“The problem is the economy is still shut down,” says Torsten Slok, the chief economist for Deutsche Bank Securities. “The doors are still closed. There is still no smoke coming out of the chimneys in corporate America.” Given that, he adds, it is “not surprising that you continue to see significant layoffs.”
A week ago, he and his advisers released “Guidelines for Opening Up America Again." They suggest governors should decide when to ease restrictions. Since then,Over the last three weeks, initial jobless claims have declined, but they are still jaw-dropping totals. Many economists worry that, as the crisis continues, there could be a second wave of layoffs and applications for unemployment benefits.
There are some 30 million small businesses in this country, and many of them are struggling to stay afloat. The $350 billion Paycheck Protection Program, part of the $2 trillion Coronavirus Aid, Relief, and Economic Security Act, helped some business owners secure low-interest loans. However, the majority of America's small businesses missed out,New legislation would replenish the fund, and many businesses are hopeful they will have better luck in a second round, but time is of the essence.
Morning_Joe
Thanks to MSM, the WHO, global elites and the democrats
dustinlong What do you expect when you’re not allowed to work?!
Cuomo shows that he doesn’t feel Small Business Owners or their employee’s are essential or worth worrying about in their work or livelihood! He shows how Democrats feel about regular Americans! No $13 pint ice cream for them! NYGovCuomo SpeakerPelosi
'bRiAn kEmP Is oPeNinG toO soOn'
davidgura TG Trump is blocking virus testing. Imagine how bad the economy would appear if the real numbers were out there. Now he can say he has created the best economy in the history of the world.
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