It must be great to be so rich that you can shut down businesses during a pandemic without a care. The State of California has gone after Uber and Lyft, claiming that drivers are employees and not contractors. Never mind that drivers don’t have to drive for the companies, can set their own hours, are
The Council of Economic Advisors for the White House might think things are going great, but the numbers tell a different story. It’s sort of like the old Groucho Marx line, “Who are you going to believe, me or your own lyin’ eyes?” With the pandemic still spreading and the federal unemployment bonus checks either
Are we talking about the same economy, the U.S. economy, where 28 million people filed for continuing jobless claims this week and almost one million (963,000) filed for initial unemployment? According to the White House, or more specifically, the White House Council of Economic Advisors (CEA), yes! This economy is quickly on the mend because
Insurance companies learned during SARS and other virus outbreaks that such things could be overwhelming, so they did what insurance companies always do, they excluded virus outbreaks from business interruption policies. While some did so explicitly, other insurance companies only offered coverage against “physical damage” that rendered a business inoperable. With hundreds of thousands of
There was a time, not so long ago, when a half-percent change in interest rate was little more than a rounding error. Now a half-percent interest rate is a yield on many investments, including 10-year U.S. Treasury bonds. On Wednesday, the U.S. Treasury Department auctioned off another $38 billion worth of 10-year bonds at a
