As coronavirus-related restrictions are eased and temperatures climb, people are flocking back to the Jersey Shore. And with the July Fourth holiday weekend upon us, that’s making some people nervous, particularly given the large crowds that have surfaced at some popular shore spots recently and poor compliance with mandated measures to help slow the spread of the virus. “I am really concerned,” said Paul Kanitra, mayor of Point Pleasant Beach, a popular shore town that was unexpectedly overrun by thousands of tourists who swarmed the beach and boardwalk a few weeks ago at a “pop-up party,” paying little heed to social distancing or masks. “We’re seeing spikes across the country in states that opened up weeks ago, and while we’re doing a good job in New Jersey, there are a lot of people that are way too cavalier about social distancing,” he said. “There’s inherent risk in all of this.” Large crowds are expected at the shore for the holiday weekend: New Jersey’s casinos have reopened, along with amusement rides and water parks. Beaches are open, though at reduced occupancy levels. Restaurants can offer limited outdoor dining, and stores and shopping malls have reopened. But not everyone is following rules designed to prevent the spread of the virus, including wearing masks and keeping 6 feet apart. In late June, large crowds swarmed D’Jais, a popular oceanfront nightclub in Belmar in scenes reminiscent of pre-pandemic days. Few patrons wore face coverings, and fewer still kept their distance from others on a packed dance floor. Gov. Phil Murphy saw videos of the packed club and warned the state will not hesitate to reimpose harsher restrictions if people don’t behave. “We cannot let up on our social distancing or our responsibility just because the sun is out,” the governor said. “We can’t be lulled into complacency and think it’s OK to crowd around a bar. That is how flare-ups happen.” COVID-19 Cases Rising Among Young People in NJ Officials worry about lack of social distancing and PPE use as people flock to the shore. Nick Note: Where are the clowns. I know at the crowd fests practicing pass the plague
US unemployment falls to 11%, Still at Depression era levels
U.S. unemployment fell to 11.1% in June as the economy added a solid 4.8 million jobs, the government reported Thursday. But the job-market recovery may already be faltering because of a new round of closings and layoffs triggered by a resurgence of the coronavirus.
While the jobless rate was down from 13.3% in May, it is still at a Depression-era level. And the data was gathered during the second week of June, just before a number of states began to reverse or suspend the reopenings of their economies to try to beat back the virus again.
“This is a bit of a dated snapshot at this point,” said Jesse Edgerton, an economist at J.P. Morgan Chase. The news came as the number of confirmed infections per day in the U.S. soared to an all-time high of 50,700, more than doubling over the past month, according to the count kept by Johns Hopkins University. The spike, centered primarily in the South and West, has led states such as California, Texas, Arizona and Florida to re-close or otherwise clamp down again on bars, restaurants, movie theaters, beaches and swimming pools, throwing some workers out of a job for a second time. President Donald Trump said the jobs report shows the economy is “roaring back,” though he acknowledged there are still areas where “we’re putting out the flames” of the virus. Economists expect the recovery to take longer than Trump’s optimistic projections, with the unemployment rate likely to be near double-digit levels by year’s end. “Even as we move into the second half of the year, a large number of people will still be looking for work,” said Eric Winograd, senior U.S. economist at asset manager AllianceBernstein.
The shutdowns over the past two weeks will be reflected in the July unemployment report, to be released in early August.
While the job market improved in June for a second straight month, the Labor Department report showed that the U.S. has recouped only about one-third of the colossal 22 million jobs lost during the lockdowns this spring. Layoffs are still running high: The number of Americans who applied for unemployment benefits fell only slightly last week to 1.4 million, according to another report. Though the weekly figure has declined steadily since peaking in March, it is still extraordinarily large by historic standards. And the total number of people who are drawing jobless benefits remains at a sizable 19 million. U.S. job growth in June was driven mainly by companies recalling workers who had been laid off during the widespread business shutdowns across the country. In an ominous trend contained in the Labor Department report, the number of Americans who said they had lost their jobs permanently rose by 600,000 last month to nearly 2.9 million.
House panel votes against limiting Trump’s power under Insurrection Act
Internal Messages Reveal Crisis at Houston Hospitals as Coronavirus Cases Surge
Texas was one of the first states in the nation to ease social distancing mandates. In Houston, the number of patients hospitalized with COVID-19 has quadrupled since Memorial Day. “It’s time to be alarmed,” one expert said
HOUSTON — At Lyndon B. Johnson Hospital on Sunday, the medical staff ran out of both space for new coronavirus patients and a key drug needed to treat them. With no open beds at the public hospital, a dozen COVID-19 patients who were in need of intensive care were stuck in the emergency room, awaiting transfers to other Houston area hospitals, according to a note sent to the staff and shared with reporters. A day later, the top physician executive at the Houston Methodist hospital system wrote to staff members warning that its coronavirus caseload was surging: “It has become necessary to consider delaying more surgical services to create further capacity for COVID-19 patients,” Dr. Robert Phillips said in the note, an abrupt turn from three days earlier, when the hospital system sent a note to thousands of patients, inviting them to keep their surgical appointments. And at The University of Texas MD Anderson Cancer Center, staff members were alerted recently that the hospital would soon begin taking in cancer patients with COVID-19 from the city’s overburdened public hospital system, a highly unusual move for the specialty hospital. These internal messages highlight the growing strain that the coronavirus crisis is putting on hospital systems in the Houston region, where the number of patients hospitalized with COVID-19 has nearly quadrupled since Memorial Day. As of Tuesday, more than 3,000 people were hospitalized for the coronavirus in the region, including nearly 800 in intensive care. “To tell you the truth, what worries me is not this week, where we’re still kind of handling it,” said Roberta Schwartz, Houston Methodist’s chief innovation officer, who’s been helping lead the system’s efforts to expand beds for COVID-19 patents. “I’m really worried about next week.”
What’s happening in Houston draws eerie parallels to New York City in late March, when every day brought steep increases in the number of patients seeking care at overburdened hospitals — though, so far, with far fewer deaths. But as coronavirus cases surge in Texas, state officials here have not reimplemented the same lockdown measures that experts say helped bring New York’s outbreak under control, raising concern among public health officials that Houston won’t be able to flatten the curve. “The time to act and time to be alarmed is not when you’ve hit capacity, but it’s much earlier when you start to see hospitalizations increase at a very fast rate,” said Lauren Ancel Meyers, a professor of integrative biology who leads the University of Texas at Austin COVID-19 Modeling Consortium. “It is definitely time to take some kind of action. It is time to be alarmed.” “The hospitalizations you see today, they’re not just going to linearly increase in the next two weeks,” said Dr. Clay Johnston, dean of the Dell Medical School at the University of Texas at Austin. “They’re going to accelerate. When you overwhelm the hospitals, you’re in big trouble. That to me is the impossible task that the governor faces. It’s like steering a giant tanker through a tiny strait without any maps.”
Trump: We will have COVID-19 vaccine soon
President Trump predicted Thursday during a “Hannity” town hall in Green Bay, Wis. that “before the end of the year, we’ll have a vaccine” for the coronavirus. Trump told host Sean Hannity that vaccines and therapeutics “are coming along great.” “I think we’re going to have an answer very soon. Very soon indeed … ” the president said. “We have great companies and we’re totally mobilized. You know, the military is doing it, we’re ready to go. As soon as we have it, we’ll be ready to distribute it all over the country.” Earlier Thursday, the governors of Texas, Arizona, and New Mexico announced that they had put their states’ reopening process on hold as the number of cases continued to surge. The U.S. reported 34,500 COVID-19 cases Wednesday, slightly fewer than the day before but still near the high of 36,400 reached April 24, according to a count kept by Johns Hopkins University. Several states set single-day case records this week, including Arizona, California, Nevada, Texas and Oklahoma. “When you do tests, you have cases,” said Trump, who touted that the U.S. had carried out “almost 30 million coronavirus tests.” “But, what they don’t say is that there are fewer deaths than there have been,” the president went on. “Way, way down and our mortality rate is among the best in the world.” According to data from the Centers for Disease Control and Prevention (CDC), hospital visits were six times higher among patients with underlying conditions, and those same patients were 12 times more likely to die from COVID-19 than their counterparts without medical conditions. The five most prevalent underlying conditions in coronavirus patients are hypertension, cardiovascular disease, diabetes, obesity, and chronic lung disease. Nick Note: Let me ask you a very important question, Are you willing to bet your life YOU wlil get a working vaccine? WELL THAT IS WHAT TRUMP WANTS YOU TO DO!
Wirecard drops 26%, ex-COO reportedly on the run

Wirecard shares plunged over 25% on Wednesday as Munich prosecutors raided its offices and widened the probe into the company’s executives over the recent accounting scandal. Meanwhile, media reported that former COO Jan Marsalek, who is under investigation, is on the run. According to the reports, German prosecutors have issued an arrest warrant for Marsalek but he traveled to the Philippines last week and is believed to have left the country for China in the meantime.
Workers getting laid off for second time as virus’s surge closes businesses
Millions of American workers are suffering from economic whiplash, thinking they were finally returning to work only to be sent home again because of the coronavirus’s latest surge. Stores, restaurants, gyms and other businesses that reopened weeks ago are shuttering again, and this time Congress appears less inclined to provide additional aid. Other businesses that had banked on customers returning and restrictions lifting – such as hotel chains, construction firms and movie theaters – are seeing hours cut and reopening dates pushed back indefinitely as consumer demand stalls. And many governors, including some who had drawn scrutiny for initially playing down the virus’s risks, are issuing new safety restrictions, in some cases just weeks after the first round of guidelines had begun to lift. In recent weeks, three states – California, Florida and Texas – have implemented policies that partly restrict restaurant or bar service. Nine others – Arkansas, Delaware, Idaho, Louisiana, Michigan, Nevada, New Jersey, New Mexico and North Carolina – have postponed or slowed reopening plans. Thousands of workers are caught in these rapidly shifting seas, many of them hourly and low-wage service employees, and are now facing unemployment for a second time. They say the past few months have been jarring: navigating unemployment in March, preparing to go back to work in April or May, and now confronting the prospect of what could be another long stretch without a paycheck. This time, many say they’re on even shakier financial ground as they topple into yet another period without a job. They face what experts have begun calling a “fiscal cliff”: the July end date for the $600 in weekly supplemental aid that has helped keep so many families afloat. For many restaurant and bar owners and workers, the past few weeks have brought an onslaught of bad news. Some said they watched wearily as infections began to tick up, just as they were starting to reopen after months of being closed. Then came all the new cases. In Phoenix, more than a dozen restaurants closed in early June after customers or employees were found to have been infected with the virus. In Jacksonville, Fla., restaurants began closing after cases rose there – in one outbreak, 16 friends tested positive for the coronavirus after dining at an Irish pub, where seven employees later tested positive. In Houston, restaurant owners are warning that they may not survive the new round of closures. In California, Democratic Gov. Gavin Newsom ordered bars closed in seven counties, including Los Angeles. The food-service and bar industry – which employed more than 8 million people, or about 5% of the workforce before the pandemic – has been devastated by the virus, losing more than 6 million jobs in March and April. But a strong rebound of 1.4 million jobs in May had helped drive down the country’s unemployment rate, sending hopes soaring that an economic recovery was underway. This new round of closures points to the significant challenges that will exist until a treatment or vaccine is developed. The fresh round of closures is raising fears that the already challenged recovery could stall. The country has been processing about 1.5 million new unemployment insurance applications a week for most of June – an alarmingly high rate that remains well-above pre-pandemic records – although it has come down from a peak of more than 6 million in March. According to a preliminary study by two Harvard University researchers, limitations at restaurants, bars and nonessential businesses amounted for 4.4% to 8.5% of the significant increase in unemployment in mid-March. Public health experts said the threat of a new wave of closures is why stringent public health measures have been needed to prevent the virus’s spread. “It’s an impossible choice,” said Emily Timm, an executive director at the Texas-based Worker’s Defense Project, a nonprofit organization that helps immigrant and undocumented workers. “People don’t want to risk their family’s health. But it’s not a choice if you don’t have access to the safety net or you were living paycheck to paycheck before the coronavirus hit.” There are some indications that factors beyond the shutdowns weigh more heavily on the economy. The Federal Reserve Bank of St. Louis issued a recent report show that businesses said declining demand from consumers was the top constraint on their recovery, ahead of social distancing requirements and concerns about their workers’ health. “The pace of business reopening has to be completely in sync with the amount that demand is going up,” one of the authors, Charles Gascon, an economist at the Federal Reserve Bank in St. Louis, said in an interview. “It’s not like there’s an on or off switch in the economy that you flip and things go back to normal. Things have to get back up to whatever the new normal is.” Nick Note: Tomorrow we get the pie in the sky heavily doctored unemployment report. I have started laughing already……
Fed’s Kashkari: Headline unemployment rate deeply flawed as measure of joblessness
The headline unemployment rate is deeply flawed as a measure of joblessness, Minneapolis Fed President Neel Kashkari said on Tuesday. “It’s not clear that something like black unemployment rate could be targeted to improve racial equity but the Fed should be open-minded on the issue.” Meanwhile, Atlanta Fed President Raphael Bostic noted that bias is seen as a drag on the economic potential and said the Fed’s growing attention to the economic equity issues will not change. “The Fed can only do so much to improve economic outcomes across race, will require work by multiple parts of the government.” Nick Note: Hear me well i do not care how much V bottom bullshit they want to blow up your ass. This is not even close to being over. KEEP YOUR POWDER DRY. Wait to you see the white in their bankruptcy eyes before you shoot your wand. 10 cents on the dollar from today’s prices. The fed cannot save the day. You will see massive starving in the streets of America.
GM Q2 sales drop 34% YoY, sees signs of recovery
(RTTNews) – General Motors (GM) said Wednesday that it delivered 492,489 vehicles in the second quarter of 2020, a decrease of about 34 percent from last year, reflecting Covid-19 pandemic’s effect on demand and tight inventories. The company stated that the industry experienced significant declines due to the outbreak of COVID-19, but full-size pickup truck sales performed exceptionally well, and overall sales showed signs of recovery, especially deliveries to retail customers. Retail sales were off by about 24 percent in the quarter. Retail sales in April were down the most in the quarter, off by about 35 percent compared to last year, but recovered significantly in May and June with year-over-year declines of around 20 percent or less. The majority of GM’s U.S. plants, including all truck and SUV plants, will continue to operate during the traditional two-week summer shutdown. In, the majority of GM’s increasing output will be devoted to restocking retail channels with capacity made available by lower rental volumes. Nick Note: 33% drop in sales is a BIG deal. To get a slight increase in sales off the bottom they are giving them away. Wait even bigger bargains are coming.
2020 Election Odds: Donald Trump Has Only 33% Probability of Beating Joe Biden
As COVID-19 cases continue to surge throughout the United States while the country confronts issues of systemic racism, Donald Trump’s odds to be re-elected continue to fall. Trump is now a +175 betting underdog, giving him only a 33% implied probability of winning the election compared to Joe Biden’s 59.3% implied probability. The latest polling backs it up: According to FiveThirtyEight’s average of national polls, Biden has an average +9.6 edge over Trump — that’s tied for Biden’s second-biggest edge over Trump in FiveThirtyEight’s average since late February. Trump’s implied probability has steadily declined since outrage over George Floyd’s death swept the nation, falling from 45.2% on June 2 to 33% on June 30. Trump hits this new low just days after The New York Times released new polling that showed him falling six to 11 points behind in six battleground states that helped deliver his 2016 victory. Nick Note: What a humiliation. Knowing Trumps ego I would not be surprised if things get much worse to see him withdraw from the election or worse. WORSE IS him declaring a national Pandemic emergency. Freedom is won by a guy and lost by decree.