May 6, 2020

Today’s Top Stories: May 6, 2020

Sorry, no video today. Power went out last night, the whole family was up too late watching the amazing lightning storm, two kids didn't sleep well and wound up in my bed…so I slept on the couch.

By “slept” I mean I was on the couch, not sleeping but wishing I could.

Today's Top Stories is brought to you by My Daily Grind News.

The Lede

A massive drop in car sales sparks new push in Congress to aid the auto industry

A precipitous decline in car sales amid the deadly coronavirus outbreak has caught the attention of Capitol Hill, where some lawmakers are now urging Congress to authorize new aid for the auto industry.

With consumers spending less, and factories nationwide shuttered or severely hamstrung, Democrats and Republicans largely representing the hard-hit, auto heavy-Midwest are leading an early push to persuade their colleagues to help manufacturers and suppliers as part of a future pandemic relief package. Absent that assistance, they warn that massive losses could leave workers unemployed and stall any economic recovery.


Coronavirus update:

3,691,683 confirmed infections, up from 3,606,038 yesterday.
258,256 confirmed deaths, up from 252,151 yesterday.

US stats:
1,206,886 confirmed infections, up from 1,180,634 yesterday.
71,220 confirmed deaths, up from 68,934 yesterday.

May 6, 2020 COVID-19 pandemic map
Source

Relevant COVID-19 stories:


Politics:

Rick Bright, Former Top Vaccine Scientist, Files Whistleblower Complaint

Bright says he was removed from his post as a high-ranking federal scientist focused on vaccines because of his reluctance to promote drugs such as hydroxychloroquine to treat COVID-19 patients.

Relevant Politics stories:


Economy Update:

There are fewer private-sector jobs today than in April 2001

Editorial: Read that again. We have lost fully 19 years worth of job growth in the private sector.

Over 30 million people in the US workforce have filed for unemployment.

The Dow is down about 60 points, falling back into the high 23k range.

May 6, 2020 DJIA stock chart
Source

Upcoming economic reports this week:

  • Tuesday – Trade deficit – $44.4 billion (March), slightly up from $39.8 billion in February.
  • Wednesday – ADP employment report – down 20.2 million jobs. It's even worse than this report suggests. This is a lagging indicator. Wait until next month…
  • Thursday – Jobless claims, Productivity – another 3.1 million down (jobs), productivity – not released yet but expected to be down about 5.5 percent.
  • Friday – Unemployment rate – expect the unexpected

Source: https://www.marketwatch.com/tools/calendars/economic

Relevant Economy stories:

Learn how to turn your hobbies into hustles – check out Gig Economics.


Offbeat Story of the Day:

Ohioan, 50, Arrested After Calling 911 To Report That Her Pussy Was Ablaze | The Smoking Gun

An Ohio woman called 911 late Saturday evening to report that her “pussy was on fire” and that she needed someone from the fire department to “put it out with their hose,” according to an arrest report.

I can’t tell if she was trying to be funny or if she’s just batshit crazy. Could be both?

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