Economic Events Reference
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news from April 2020
The facts and only
the facts, without editorialization or opinion. You decide what to believe.
May 11, 2020 - New York City Mayor William DeBlasio stated that New
York City may open up in June, 2020
May 11, 2020 - New York Governor Cuomo stated that several upstate
districts will partially return to normal business activities this
week. Businesses will still be required to observe social distancing
rules and mask wearing rules, while indoors.
May 8, 2020 - The United States Labor Department have determined that
the United States lost 20,500,000 jobs in April. This amounts to a
14.5% unemployment rate. Other sources claim that the unemployment
rate is significantly higher with some saying 25.5% unemployment
rate. It should be noted that James Bullard, the
chairman of the St. Louis Federal Reserve stated in a memo in late
March, 2020, that the unemployment rate may exceed 30% if the
lockdown extended to the end of August, 2020.
April 21, 2020 - President Donald Trump says that his immigration
restrictions will also apply for 60 days to green card applicants.
April 21, 2020 - President Donald Trump is demanding that Harvard
University pay back corona virus aid. Harvard University has over 40
billion dollars endowment in reserve.
April 21, 2020 - Oil prices continued to fall to its lowest price
since 2002. The American shale oil industry is at a complete standstill.
April 20, 2020 - President Donald Trump states that he
will issue an order to suspend immigration.
April 20, 2020 The Governors of South Carolina,
Georgia, and Tennessee have announced that most businesses will be
permitted to open either now or by April 30.
April 20, 2020 - Oil prices crash. A 55 gallon barrel
of "West Texas Crude" crashed to negative numbers today, to
an astounding minus $39 per barrel, that is that the producers were
paying the buyers to take the oil. The reason for this is that all of
the storage facilities are filled to capacity and because of the lock
down, oil consumption has dropped dramatically. This price drop is
clearly temporary since now the wells have stopped pumping and thus
output has dropped. In certain cases, such as the Alaska pipeline, it
is extremely difficult and costly to stop oil flow for a variety of
April 16, 2020 - The $349 billion dollar Paycheck
Protection Program for small businesses, distributed by the Small
Business Administration (SBA), has run out of money and their
application website now states "NOTICE: Lapse in Appropriations.
The SBA is currently unable to accept new applications for the
Paycheck Protection Program based on available protections". In
the few days that the money was available, the SBA made 1,660,000
loans. According to the SBA, there are 30,200,000 small businesses in
the country, thus about one in twenty small businesses received these
loans. There is some controversy since a publicly traded company with
over 5,000 employees received a loan and another major company
received a loan, only to file for bankruptcy that was apparently pre-planned.
April 16, 2020 - Protests by thousands of protesters
have converged on the state houses of Minnesota, Pennsylvania,
Kentucky, Michigan and other states demanding that businesses and
other activities be resumed. Many constitutional guarantees are
mentioned including freedom of religion, freedom to assemble, the
pursuit of happiness and others. Many protesters do not believe in
the severity of the Corona Virus and compare it with the yearly flu.
April 15, 2020 - New York Governor Andrew Cuomo
extends PAUSE till May 15, 2020.
April 15, 2020 - New York Governor Andrew Cuomo issues
an executive order stating that all people must wear masks or face
coverings, if they might be closer than six feet from one another in
public or if they go into a supermarket.
April 14, 2020 - President Donald Trump stopped
funding the controversial United Nations World Health Organization
(WHO). Up to this point, the United States had funded approximately
50% of the WHO's annual budget.
March 30, 2020 - A report from the Federal Reserve of
St. Louis district said in a recent analysis that the US
will lose 47 million jobs, resulting in an unemployment rate of
32.1%. During the Great Depression of 1929 to 1936, the highest
unemployment rate was 24.9%. The original projections by James
Bullard, the chairman of the St. Louis Federal Reserve was an
unemployment rate of 30%.
Some people originally stated that all would be back
to normal by August, with some optimistically saying as early as
March 25, 2020 - Congress passes a 2 Trillion dollar
economic stimulus package that includes a one time payment to every
citizen who earns less than $95,000 per year. A working couple
earning less than $190,000 will get $2400 and a further $500 per
child. The initial payment is based on a persons 2018 tax return or
their 2019 return, if it has been filed. However the final
determination will be the 2020 tax return so that in theory, if the
person earns above the threshold in 2020, the money will have to be
returned. The exact procedure has not be announced as of today. A
variety of emergency loans for businesses and banks has been also
been authorized. One such loan, that may not have to be repaid is a
$10,000 Small Business Agency SBA loan, but there is a cap as to the
total amount available.
March 24, 2020 - Mayor Bill DeBlasio plans to release
non violent prisoners from jail to prevent the rapid spread of Corona
Virus in prison. District Attorneys from most New York City Borough's
object to this plan stating that crime will rise.
March 23, 2020 - The Internal Revenue Service (IRS)
has extended the April 15 tax filing deadline to July 15, 2020.
March 20, 2020 - New York Governor Andrew Cuomo issued
an executive order known as "Pause" which is a ten point
program. Key points include:
100% closure of non essential businesses statewide,
effective at 8PM on Sunday. Exceptions made for essential service
such as groceries and health care.
"Matilda's Law, named after his mother, provides
protections for those who are 70 and older, people with compromised
immune systems and those with underlying illnesses.
Orders a 90 day moratorium on any residential or
The ten point executive order includes:
Effective at 8PM on Sunday, March 22, all
non-essential businesses statewide will be closed
Non-essential gatherings of individuals of any size
for any reason (e.g. parties, celebrations or other social events)
are canceled or postponed at this time
- Any concentration of individuals outside their
home must be limited to workers providing essential services and
social distancing should be practiced
- When in public individuals must practice social
distancing of at least six feet from others;Businesses and entities
that provide other essential services must implement rules that help
facilitate social distancing of at least six feet
- Individuals should limit outdoor recreational
activities to non-contact and avoid activities where they come in
close contact with other people
- Individuals should limit use of public
transportation to when absolutely necessary and should limit
potential exposure by spacing out at least six feet from other riders
- Sick individuals should not leave their home
unless to receive medical care and only after a telehealth visit to
determine if leaving the home is in the best interest of their health
- Young people should also practice social
distancing and avoid contact with vulnerable populations
- Use precautionary sanitizer practices such as
using isopropyl alcohol wipes.
"Matilda's Law" includes the following rules
for vulnerable populations:
- Can go outside for solitary exercise;Pre-screen
all visitors and aides by taking their temperature and seeing if
person is exhibiting other flu-like symptoms
- Do not visit households with multiple people;Wear
a mask when in the company of others
- To the greatest extent possible, everyone in the
presence of vulnerable people should wear a mask
- Always stay at least six feet away from individuals
- Do not take public transportation unless urgent
and absolutely necessary.
March 18, 2020 - Macy's announced that it is laying
off the majority of its123,000 employees.
March 15, 2020 - There is a belief that after the
economic shutdown is over, the economy and life will snap back to
normal. There is considerable question to this, as there is a fear
that those who have their jobs suspended, will not be able to pay
their accumulated rent, mortgage payments and other accumulating
bills, even after they return to work after the shutdown. There is
the further issue that restaurants, and companies may not be able to
catch up with their own accumulating rents, mortgages, loans and
other bills and may have to layoff or fire employees or close their
businesses entirely, if the shutdown continues over a period of time.
March 12, 2020 - President Donald Trump suspends all
travel to Europe. This order is soon extended to the rest of the world.
York City, USA)
1977 - 2020 by Frank X. Didik, All Rights Reserved
X. Didik with NYC Mayor Bill DeBlasio and first lady Chirlane
McCray, at Gracy Mansion.
For the latest
updates, and links, please go to the main page of www.News1.net
NYPD Chief of
Thousands of New
A new job apprenticeships website
New Federal hiring guidelines
NYPD shows extreme
professionalism and restraint Read
NYC under curfew read
Stores looted May
31, 2020 read
Protests erupt in
proposesTRACE Act read
History of Corona
fuel prices plumet read
2020 news. read
Corona Shut-down read
of2 trillion read
to shutdown read
empty New York Citymore
Federal reserve on
salary protection read
should be responsible for themselves and carry their own weight in society read
Safety-Subway Gate Every year hundreds of people are
killed or severely injured when they fall onto the tracks of trains
and subways. The prevention is cost efficient and greatly reduces liability ...
reduce train noise A significant
amount of train noise is caused by the train wheels rolling over the
expansion joint of the tracks. This vibration creates noise,
vibrations, an less pleasant ride and also reduces the life cycle of
the train. The solution is relatively simple and cost effective..read
What I have observed regarding the Corona Virus can be
read here. Further, my photographs of empty New York City, can be viewed
by Covid-19 lockdown? Unlikely. People are used to staying home, have
developed new habits, and after being out of work, will probably want
to save money.
Fears pushed in the media and other sources: What
ever happened to Y2K, the Ozone hole, nuclear winter, missile gap, read
and Bars will spring back? Very
unlikely. People go to these places not only to eat and drink but
primarily to socialize. If people are social distanced, why go out?
Who is to say who is an expert when the entire virus is a new event
and nobody has any real understanding what is going on. This is like
the transition period of Eastern Europe from 1989 to 1992, when so
many "leading experts" came from nowhere and gave the
public their speculation with truly disastrous results, causing
massive inflation and economic failure in countries who followed
If you can live for a thousand years, but have to live in a 12x12
foot (3x3 meter) room without ever leaving, would you do it? I prefer
to live life to its fullest and accept the risks. Everything in life
entails a certain risk.
vaccinations? But Why? read
more people die because of the Corona Virus or because of the lockdown? read
Covid-19 as widespread as suggested? read
Governments verses Conservative Governments read
first and family later? read
Frank X. Didik aboard "The
Futurist", anchored in a New York Harbor.
on science, business and society today
Frank X. Didik - News1.net editor.
if and what can or might be.
1956 Firebird was
to be self driving.
Driving Cars? If
you have an accident with a self driving car, who is at fault? The
car manufacturer, the owner of the car or the occupant
"driver" of the car? I
have enjoyed owning and driving some of the most interesting cars
made and have always enjoyed the freedom of driving without
impediments or restrictions. Nevertheless, if self driving cars can
help reduce accidents and enhance society, I am for them. Besides the
technical aspects, there are many other issues that must be worked
out. My concerns
regarding self driving cars including liability, safety, morality and
What ever happened to jet packs, flying cars and advanced technology
that in the past, was predicted that we would be using by today? Why
are bicycles being pushed by cities world wide?...read
If people who are protesting are paid to protest, is it really a protest?
If a humanitarian organization is paid for their services, are they
really a humanitarian organization?
If a charity receives most or all of its money from the government,
is it really a charity considering that the tax payer is paying for
Advice for the modern person -
to Rethink Bike Lanes
Advice for bicyle based cities
school and our education system
everyone attend college
college or a university
really teach a person to be a businessman
or an artist or good in any particular field? ...
come all college undergraduate degree's
require four years?
Should some degrees require only one
year while others perhaps six years? ...
courses should and should not be taught at college or university? Can
college or a university teach a person how to be a good business
person, or how to be creative? ...
Logic and intellect is not reliable.
The late Christopher Hitchens often stated that we should rely on our
logic, reason and intellect to determine the truth. Many people who
pride themselves as educated, intelligent and progressive believe the
same. As reasonable as this seems, Galileo proved over 400 years ago
that our logic, reason and intellect is unreliable and that only
direct experimental data, should be relied upon. Galileo had dropped
two balls of the same material, but different masses, from the
Leaning Tower of Pisa to demonstrate that they would hit the ground
at the same time, rather than the heavier ball hitting the ground
first, as almost everyone, including Aristotle, 2000 years ago, had
assumed. Our logic, reason and intellect is not reliable and should
only be viewed as speculation. Only direct experimentation and
obtaining the same results, over and over again should be relied upon.
What about? ..
Computer Formats and the longevity of our digitally stored
we entering into a "pre-history" era? How can we preserve
our computer written records, books, photographs, video and
knowledge? We must have an international agreement and an
organization, perhaps under auspices of the United Nations, dedicated
to preserving our global digital records so that future generations
can access the information and knowledge that we store on computer
you wanted to, would you be able to read a:
1/2" or 5 1/4" or 8" floppy?
or a dvd?
you can not read these one or two generation old formats today, how
will society be able to read these documents in 200 years from now?
In a few years, our latest computer formats and storage devices, such
as USB drives, will also be obsolete. I have deep concerns about the
longevity of our knowledge and of computer records, ...read
if the decay rate of elements varies rather than being a constant? Imagine,
if this is the case, it would mean that all archeological dating is
in question. How old are artifacts? When in fact did the dinosaurs
really die out? Further, consider that ...
is the speed of gravity? If it is instantaneous, then what if
gravity can be modulated? Today
most scientists, assume that the speed of gravity is the same as the
speed of light, but what if the speed of gravity is instantaneous?
Further, if gravity can be modulated, it might allow for
instantaneous universal communication. Thus it might be possible to
communicate with space craft instantly, rather than waiting for
minutes for transmissions to reach the craft or earth. Perhaps
computer chips can be made to operate vastly faster. And this is just
the beginning since ...read
in Startups. Good idea or bad? Is
investing in a Startup, that has never proven itself in the market
place, a good idea or a waste of money (and talent)? Historically,
investors invested in companies that were swamped with orders and
making money, but needed additional money to ...
efficient brain-storming method and
how to make morning office meetings more productive and interesting ...
the very best and most effective TV commercials
The single purpose of a television commercial is to sell the product
or service. The fact that an advertisement might be interesting,
funny, informative or well produced is secondary to the main purpose,
which is to sell the product or service. One should never leave the
creation of the television commercial to the television producer or
the video editor. ...
the most effective business websites Never
let a "web designer" develop the website for you. A web
designer should be produce the website under the supervision of an on
line marketing master, usually working with ...
is an alternative to population control. Restricting
and discouraging the formation of families in order to stabilize or
reduce population infringes on the freedom and rights of every human.
There is another much better approach...read
the results of modern science. For
the last 100 years, we have been experiencing the collapse of real
science. Theories, speculation and fantasy is the norm today. By
definition, the scientific method is the ability to test and re-test
and always get the same results, over and over. If an idea or a
theory can not be tested, the idea must be viewed as speculation and
not considered true, till that idea is proven without a doubt.
Scientific theory has moved to areas that are beyond our present
capability of testing and gradually a number of unproven theories
have become accepted as fact without any real proof. Further, new
theories have been developed based on old theories. Thus we have a
situation where science today is largely based on theory upon theory.
If something can not be proven, it falls into the realm of philosophy
rather than science. This has led to...read
if time varies along with all things, rather than being a constant? Consider
the speed of light vary, even if traveling under the same
conditions, or in other words, is the speed of light really a
to Einstein's theory of relativity, the speed of light is a constant
and media hype: Any
sudden "revolutionary" scientific discovery, even if such
discovery is written about in every newspaper and scientific journal,
should be greeted with skepticism. Such a discovery should only be
accepted after the bulk of scientists have have had a chance to
review the discovery and confirm that it is in fact correct. Such
things that come to mind include cold fusion, the so called "God
Particle" and even the recent stated discovery of a
"gravitational wave". All too often such media hype has
come and gone without any real discovery or fundamental change. ..read
percentage of information, contained in science books is accurate
and true? Are we in a post science period? Many
science books today present ...read
is time to retest scientific properties. Verify results. I
suggest that the properties of all materials be re-tested using
modern technology and certify the results. Melting and boiling
points, conductivity, hardness, and all physical properties of
materials should be re-tested ...read
advance our knowledge
a scientist has worked for years to prove a particular theory and
finds out that their work hasbeen in vain, it is difficult to admit
that their original assumptions were wrong. Still it is vitally