WHEN COVID-19 first began to spread around the world in the spring of 2020, a health emergency risked triggering an economic and financial crisis. America's financial plumbing seized up as companies scrambled for cash, dumping even their holdings of usually safe Treasuries. Companies and investors the world over rushed into dollars. The bottom fell out of the oil market as demand collapsed.
In finance covid-19 accelerated digitisation , shifting payments and banking from the physical to the virtual sphere. The rising financial clout of tech-savvy millennials could hasten the digital transformation. But with fintechs' rising market share came greater scrutiny. The listing of Ant Group was meant to be the world's biggest initial public offering, until it was forced by Chinese regulators to halt its flotation at the last minute.
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Opinion: Economic comeback will rely on investing in child care
With over a half century in the family care business, our organization and staff have been faced with all the familiar challenges of our field. We are accustomed to enrollment flexes, challenges of finding qualified staff, the ever-developing children’s programming, plus meeting and exceeding the guidelines of the Department of Education. But 2020 has pushed us to stretch, flex and think on our feet in ways we did not know possible.
According to a survey conducted this summer by the NAEYC (National Association of Education of Young Children), it is estimated over 40% of U.S. child care centers will permanently close without public assistance. The COVID-19 pandemic has hit our industry head-on. On average, enrollment is down by 67%, while additional costs for staffing, cleaning supplies and personal protective equipment are up substantially.
Biden calls for Trump to sign COVID-19 economic relief package - CBS News
"It is the day after Christmas, and millions of families don't know if they'll be able to make ends meet because of President Donald Trump's refusal to sign an economic relief bill approved by Congress with an overwhelming and bipartisan majority," Mr. Biden said in a statement on Saturday.
Mr. Trump tweeted on Saturday "I simply want to get our great people $2000, rather than the measly $600 that is now in the bill." Mr. Trump also indicated he wanted to get rid of the "pork" in the bill.
Bloomberg - Are you a robot?
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Real World Economics: We make choices, right and wrong – Twin Cities
In the middle of a historic pandemic, people should not gather in large group settings, particularly ones where the virus may be transmitted easily. That means, among other things that businesses like restaurants, bars, theaters, fitness centers and arenas should close. That imposes a huge financial burden on owners of these establishments.
Since closing is a benefit to the population as a whole, and not due to any action by these businesses that would be harmful in normal times, they should be compensated for giving up their income. If this sounds familiar, this was last week's column.
New Signs of Economic Distress Emerge as Trump Imperils Aid Deal - The New York Times
With the fate of a federal aid package suddenly thrown into doubt by President Trump, economic data on Wednesday showed why the help is so desperately needed.
Personal income fell in November for the second straight month, the Commerce Department said Wednesday , and consumer spending declined for the first time since April, as waning government aid and a worsening pandemic continued to take a toll on the U.S. economy.
Separate data from the Labor Department showed that applications for unemployment benefits remained high last week and have risen since early November.
One Vaccine Side Effect: Global Economic Inequality - The New York Times
International aid organizations have promised that all countries will gain the tools needed to fight the pandemic but have failed to back their assurances with enough money. Credit... Hannah Yoon for The New York Times
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LONDON — The end of the pandemic is finally in view. So is rescue from the most traumatic global economic catastrophe since the Great Depression. As Covid vaccines enter the bloodstream, recovery has become reality.
The economics of protecting the planet from an asteroid disaster : Planet Money : NPR
As we were looking back over the year we realized one thing hadn't happened. We haven't been hit by an asteroid. Yet. But we do have a show on the topic in the archives, and, given the year, we thought it might be a good idea to roll it back out. You know, just in case. There are still a couple of days left.
Happening on Twitter
Testing & tracing volumes now at alarming levels. Our highest daily tests now at 23,000. Community positivity reach… https://t.co/q1CMwZIPtS paulreiddublin (from Ireland) Sun Dec 27 11:40:31 +0000 2020
Episode drops tonight at 9. We talk to @andrewschulz his new show Schulz Saves America on Netflix is a four part co… https://t.co/vtiBFU6zGy TimJDillon (from Los Angeles, CA) Sun Dec 27 00:35:20 +0000 2020
2020 year in review with the @AirNatlGuard https://t.co/RsvlGZhweg usairforce Sat Dec 26 17:21:35 +0000 2020
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