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Economic Recovery #5

  • Migration Down Under
  • Line of Rich and Poor
  • Marriage and recession
  • Stimulus “odd couple”
Published every Friday


Covid-19 Is Killing Affordable Housing, Just as It’s Needed Most

After the eviction cliff, a different U.S. housing crisis looms: Low-cost home production is lagging, thanks to construction slowdowns and budget cuts.

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The Guardian

Migration to Australia has fallen off a cliff – will it take the economy with it?

If Pritam Deb had waited another year, his dream of moving to Australia with his young family probably would not have come true.

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Barry Ritholtz

CARES Act 2: The Line Between Rich & Poor in America – The Big Picture

How much money do you need to be rich in America? How little must you have to be poor?

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We Don’t Just Need More Stimulus — We Need Smarter Stimulus

Karabell is an author, investor, and commentator. He is the president of River Twice Research. His forthcoming book is Inside Money: Brown Brothers Harriman and the American Way of Power.

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The Dispatch

What’s Missing From Senate GOP Plan

Senate Republicans released their long-awaited plan for the next round of COVID relief, kicking off congressional negotiations centered on vital issues such as extending emergency unemployment benefits (though to a lesser degree), issuing another round of recovery rebates, and increasing testing. But what’s largely missing are targeted plans to help caregivers — who face unprecedented responsibilities largely due to child care center and school closures — return to work.

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‘If Coronavirus Doesn’t Kill Me, Hunger Will’: Mexico’s Poor Bear Brunt Of Pandemic

Relatives of victims who died from COVID-19 visit graves in the special area of the Municipal Pantheon of Valle de Chalco, Mexico. The coronavirus has taken a heavy toll on the country, especially its poorest citizens.

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Will the Recession Rock Marriage?

At a time when people are already marrying less, the latest recession could lend a crippling blow to the institution of marriage.

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Irish Times

Winner takes all is simply unsustainable, even for tech giants

Hopes of a V-shaped economic recovery have been dashed pretty much everywhere. That said, it is clear that activity has recovered from trough levels seen during March and April. The problem is that the growth we have seen looks patchy and is far from consistent with an early return to where we were pre-coronavirus.

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‘The odd couple’: Mnuchin and Meadows struggle to make a deal

So far, the Meadows-Mnuchin combo hasn’t gotten anywhere. The White House and Senate Republicans wasted a week piecing together their own relief plan. Despite hours of private sessions with Pelosi and Schumer, there doesn’t seem to be any progress at all. Lawmakers in both parties have also rejected an offer by Trump and Mnuchin for a short-term extension of federal unemployment benefits that expire this week, in addition to keeping an eviction moratorium in place.

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This is the only city in America where unemployment is actually down

The small city of Owensboro, Kentucky, has been extremely lucky in this recession. While the rest of America grapples with historically high unemployment, Owensboro’s job market has emerged relatively unscathed.

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