14 September 2020

1) With 13 million Americans unemployed and their unemployment benefits running out, many will have only seasonal jobs to turn to. But with such wide spread unemployment, getting hired for seasonal work wont be easy. With the coming holidays, seasonal jobs traditionally mushroom with major companies already hosting hiring events to fulfill their temporary ranks. Companies like Michael’s will hire over 16,000 temporary people, with UPS expecting to hire over 100,000 for holiday package delivery. Retailers doing e-commerce, such as Amazon or Walmart are expected to need many seasonal workers and therefore are good places for job seekers to apply.

2) Fears are growing that the coronavirus crisis could cause a double dip recession, that the recession could end up looking like a roller coaster of ups and downs. The upsurge in virus cases is eroding consumer confidence and leading to renewed limits on certain businesses. Economic recovery can bloom then fade away only to repeat again. Some economic factors point to a recovery, yet others point downwards, with the picture further complicated by the ‘what ifs’ of the coronavirus and just how it will play out, where a second wave of the virus could be just as economically disruptive as the first one, maybe even more so. Additionally, a significant portion of the economy has been destroyed. Half the businesses in America are small businesses and at the start of the crisis, about half of those had cash reserves of just fifteen days or less . . . meaning by now they have gone bust! No one knows what the repercussion from such massive losses of business will ultimately have on the economy in general.

3) Mechanical breakdown insurance, which isn’t an extended warranty, but rather is insurance that pays for mechanical auto repairs of a car’s power train, much as accident insurance pays for the repair of body damage. It will have some amount for a deductible, then pays the remainder of a mechanic’s bill for repair, both labor and parts. Usually, any mechanic can be used. Most major insurance companies who offer auto insurance will also offer breakdown insurance too. Prices range from $20 to $100 a year.

4) Stock market closings for – 11 SEP 20:

Dow 27,665.64 up 131.06
Nasdaq 10,853.54 down 66.05
S&P 500 3,340.97 up 1.78

10 Year Yield: down at 0.67%

Oil: up at $37.39

21 March 2019

1) Fears of climate change is causing some retired seniors to pull up and move out of Florida, which for many years has drawn the ‘sixty plus year olds’ demographics for a life of peaceful retirement with its low cost of living, no income tax and nice warm weather. But the threat of hurricane damage from flooding and rising sea levels is also making the associated insurance cost soar, in turn causing retirees to reconsider and move more inland, the result some are claiming from global warming.

2) Losses from the flooding in Nebraska is estimated to be over one billion dollars with more flooding forecasted. But even worst is the anticipated impact on farmers. Last year, 19% of Nebraskan farms filed for bankruptcy, and many more are now anticipated to file as the consequence of the flooding pushes more farmers under.

3) The Feds have elected to not raise interest rates again this year, expecting an economic slowdown ahead. There isn’t any need to guard against inflation coupled with indicators of slower growth from household spending and business fixed investment. The GDP was 2.1% instead of the expected 2.3%.

4) 20 MAR 19 Stock market closings:

Dow                25,745.67    down     141.71
Nasdaq             7,728.97          up         5.02
S&P 500            2,824.23     down         8.34

10 Year Yield:    down   at    2.54%

Oil:     down   at     $59.99

30 January 2019

1) California produce prices are going up because of labor shortages and increasing cost for labor. Agriculture workers are now under California’s minimum wage and overtime laws, plus mandated medical care. In response, farmers are turning more to automation to reduce labor cost and requirements. In the mean time, farm production is down which can further drive prices of produce up nation wide. Also, farming is moving off shore.

2) Pacific Gas and Electric (PG&E) filed for bankruptcy, which puts pending lawsuits on hold and will consolidate them in bankruptcy court.

3) Insurance losses for California wildfires top $11.4 billion dollars, from 46,000 insurance claims. The fires destroyed 13,000 houses and businesses and left 89 dead.

4) 29 JAN 19    Stock market closings:

Dow              24,579.96          up       51.74
Nasdaq           7,028.29     down       57.40
S&P 500          2,640.00     down          3.85

10 Year Yield:    down   at    2.71%

Oil:    up   at    $53.37

BERKSHIRE HATHAWAY, JP MORGAN & AMAZON SETTING UP HEALTHCARE VENTURE………

By: Economic & Finance Report

Investment, finance/banking & retail powerhouses; Berkshire Hathaway, JP Morgan Chase & Amazon, seem to be in collaboration for a new healthcare venture that is speculated to be one of a kind in the healthcare sector. The deal seems to be under wraps.

What is somewhat known is that the venture is supposed to be beneficial to their respective employee healthcare  benefits. Perhaps making healthcare cheaper for all Amazon employees per se?

The wait and see game on this venture continues……-SB