Join Jim and Greg as they cheer Attorney General Bill Barr for calling out the “economic blitzkrieg” agenda of the Chinese Communist Party and hammering corporate America and big tech for turning a blind eye to China’s human rights horror show. They also wince as resurgent COVID cases seem to have job numbers sagging again. And they have fun with the news that very few Democrats will actually be in Milwaukee for the convention next month.
Join Jim and Greg as they cheer a May jobs report that was more than 10 million jobs better than the experts predicted. They also groan as the New York Times leadership continues to grovel to its millennial and Gen Z staffers who remain traumatized that an opinion column they don’t agree with ended up in the paper. And they use pop culture and common sense to explain why the plans of some Minneapolis City Council members to “dismantle” the police are insane and counterproductive.
Two good martinis and one very bad one as we head into Mother’s Day weekend. Join Jim and Greg as they marvel at how well Florida has done thus far in warding off virus that’s particularly rough on the elderly. They also shudder deeply as the U.S. lost a stunning 20.5 million jobs in April and the unemployment rate soared to 14.7 percent. And they welcome news that the percentage of positive COVID tests is declining at testing ramps up.
On Thursday, the Department of Labor reported more than 4.4 million jobs lost in the past week. Over the past five weeks, 26.4 million people have filed first-time jobless claims.
What are the short-term and long-term economic impacts of this hemorrhaging of jobs, productivity, and revenue? How much has the Paycheck Protection Program helped? And how aggressively can our economy re-engage when we’re already hearing some schools may not be opening in the fall and the Centers for Disease Control believes the coronavirus could be worse in the coming winter than it is now?
Brian Wesbury is chief economist at First Trust Advisors in Wheaton, Illinois, and formerly served as chief economist for the Joint Economic Committee of Congress. He walks us through these difficult questions, explains the indicators for and against a rise in inflation, and sizes up the recent volatility in the oil markets.
Don’t miss this critical conversation on the state of our economy.
Join Jim and Greg as they salute the stunning dedication of employees at a polypropylene plant in Pennsylvania. They’re also staggered by more than 26 million jobs lost and discuss how to re-engage the economy responsibly. And they assess data suggesting there were tens of thousands of coronavirus cases in American cities by March 1. Finally, they forecast tonight’s NFL Draft and Greg has fun imagining how National Review drafted Jim Geraghty back in the day.
Jim starts this edition by blasting the World Health Organization for suggesting that alcohol consumption makes the coronavirus worse. Then he and Greg applaud Dr. Birx for calling out the WHO and China for a deadly lack of transparency that cost the rest of the world valuable time in preparing for the virus. They also lament the 22 million lost in the past four weeks and the lack of urgency in Congress to replenish funds for the Paycheck Protection Program – and discuss how to reopen the economy most responsibly. And they unload on New Jersey Gov. Phil Murphy for admitting he never considered the Bill of Rights in having 15 people arrested for gathering at a synagogue in his state and Michigan’s Gretchen Whitmer for saying her severe restrictions are fine because it snowed in Michigan this week.
On Thursday, the Labor Department announced 6.6 million people filed for first-time unemployment last week. In the past three weeks, more than 16 million Americans lost their jobs.
How much longer can our economy afford to be locked down? How fast can it get up and running once it is restarted? And what policies will be most helpful?
Dr. Gary Wolfram teaches political economy at Hillsdale College. He addresses these questions, explains why strong government action is needed in a crisis like this, and why suggestions by Dr. Ezekiel Emanuel and others that we need to ban large gatherings for 12-18 months is simply unrealistic.
Join Jim and Greg as they discuss the gut-wrenching loss of another 6.6 million jobs over the past week but also note an economic silver lining. They also react to Dr. Fauci suggesting people permanently stop shaking hands and then muse about what should replace it. And they lose their appetites as they discuss another way China is a breeding ground for illnesses.
On Thursday, the Department of Labor reported more than 6.6 million people filed new jobless claims over the past week. Combined with the nearly 3.3 million from last week, more than 10 million people since our economy largely shut down due to the coronavirus.
With the nation effectively on pause at least through April, what will the economic toll be over the next few weeks and how quickly can those losses be reversed once we’re past the crisis?
Brian Wesbury is chief economist at First Trust Advisors and is a former chief economist for the Joint Economic of Congress. He explains where he thinks our economy is headed, how strong the relief bill from Congress is and what the big economic lessons ought to be from this crisis.
The coronavirus crisis has gotten to the point where Jim Geraghty is saying nice things about the New England Patriots and owner Robert Kraft after Kraft dispatched the team plane to China to pick up 1.2 million N95 masks. Jim and Greg also tackle the brutal loss of 6.6 million more jobs in the past week and wonder how soon we’ll have no choice but to reopen various sectors or regions of our economy. And they throw their hands up as Georgia GOP Gov. Brian Kemp says he only realized this week that COVID-19 could be spread by people before they start feeling sick.