The Cruise lines decided to base their operations in other countries to avoid paying taxes. That decision may come back and haunt them now that stimulus money is on the table. According to the New York Times, Cruise Lines may not get the bailout money they need because they don’t qualify as American companies.
Fed Chairman Jerome Powell told the press the United States is in a recession. But Powell said the Feds will protect the banks and capital markets during and after the deadly virus moves on. Lawmakers passed the first emergency bill that will help ease some of the pain for businesses and workers, but it’s a short-term fix, according to the New York Times.
Sending Americans $1,200 will help, but the health experts believe the virus will stick around for months. If the virus continues to keep people home in May and June, Congress will have to open its bottomless wallet again to keep workers afloat.
President Trump continues to confuse, irritate, and bewilder the nation with his version of daily coronavirus updates. He continues to hold the conferences closer to the prime time news spots, and that has the networks seeing red. The networks don’t like Trump rambling news conferences that feel more like his political rallies than coronavirus updates. He attacks Democrats and the media. And he praises his team for doing a great job.
But Mike Pence and his team seem more concerned with keeping the president’s ego drenched in praise rather than helping the states battle the pandemic, according to the Washington Post. Dr. Fauci got under Trump’s skin when he repeatedly contradicted the half-baked assertions Trump makes about FDA approved drugs and developing a vaccine. Trump wants to keep Fauci away from his coronavirus news conferences, but it seems Americans want to hear what Fauci has to say after Trump makes a weird pandemic claim, according to the Washington Post.
Mr. Trump blames Obama for not having enough personal protection gear or ventilators. A CNN reporter let Peter Navarro know he dropped the ball since he’s in charge of the supply chain. Navarro tried to blame Obama, but the reporter brought up the pandemic drill the Trump administration went through in 2019.
The Labor Department claims more than 6.6 million Americans applied for unemployment during the last week of March. More than 3.3 million folks applied during the third week. The 6.6 million number shatters the October 2,1982 total of 695,000 people, according to Yahoo Finance.
Read More: https://www.washingtonpost.com/business/2020/04/16/unemployment-claims-coronavirus/
