Welcome to one of my new features here on WayneDupree.com.
Below are stories that were big over the weekend and what you need to look at during that current day. My thoughts are that you should never be afraid of the news because it surrounds us every day and an informed populace is the only way to make better decisions on how to move forward.
Pres. Trump seemed very happy about the Federal Reserve’s move to slice interest rates to zero but the markets this morning are already showing a major dip with the DOW Jones futures already under 1200. Stay calm and make sure you take care of your families because there are crazies out there.
NEWS FOR TODAY
There are more shutdowns in the US. New York City schools are closing. Mayor Bill de Blasio called the move, which affects 1.1 million children, 75,000 teachers and over one million parents, “extraordinarily painful”. California Governor Gavin Newsom called for the closure of all bars and told those over 65 to self-isolate. Vegas casinos will shutter from Tuesday.
The US also clamps down on social gatherings… The Centers for Disease Control and Protection discouraged gatherings of 50 or more people, including weddings, funerals, sporting events, concerts, and parades for at least eight weeks.
… and bans travelers from the UK and Ireland. The US is extending its travel restrictions, currently applied to 26 European countries, at midnight eastern time, vice president Mike Pence announced.
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The US central bank said it is now targeting a federal funds rate of zero to 0.25%. It is “prepared to use its full range of tools” as the impact of coronavirus ripples through the economy, including buying an extra $700 billion in Treasury and agency mortgage-backed securities.
China released disastrous economic data. Industrial production for the combined months of January and February fell 13.5% from a year earlier, while retail sales plunged 20.5%. China instituted large-scale lockdowns nearly two months ago to contain the coronavirus outbreak.
Coronavirus deaths in Europe have surpassed China. As the Chinese lockdowns show signs of success, Germany closed its borders, domestic transportation in Spain was severely reduced, and Turkey and France shutbars, restaurants, and cinemas, with more stringent measures expected.
Airlines cut pay and schedules. As more countries put travel restrictions in place, carriers asked for government help, drastically reduced capacity, and said they are also forced to pay their staff much less.
More Stories On WayneDupree.com
- Report: Trump Coronavirus Plan is So Amazing the Stock Market Soared During His Presser
- Report: Nation of Islam Follower Murders Three People “I Just Found Some White Men to Kill”
- Report: Joy Behar Takes Leave of Absence From “The View”
- Report: Carefree Meghan Spotted in Canada Walking Baby Archie, While Harry’s Still in UK With Fed-Up Royals
This piece was written by Wayne Dupree on March 16, 2020. It originally appeared in WayneDupree.com and is used by permission.
Read more at WayneDupree.com:
Report: Carefree Meghan Spotted in Canada Walking Baby Archie, While Harry’s Still in UK With Fed-Up Royals
Report: Man in Hotel Room With Andrew Gillum is an Openly Gay “Male Escort”
James Woods Shares Slurring Pelosi Video, Calls Her ‘Booze-and-Botox Besotted Old Bag’ Who Can’t Manage Her Dentures
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