May 8, 2020

Top JPMorgan Investment Officer: It Will Take ’10 to 12 Years’ for U.S. Employment Levels to Return

“When you look at the congressional budget office forecast for the end of 2021, they have unemployment at 9 percent…So even looking out a year and a half from now, we’re still going to be roughly where we were at the peak of the (2008) financial crisis.”

A record 20.5 million jobs were lost in April as unemployment rate jumps to 14.7%

“A more encompassing measure that includes those not looking for work as well as those holding part-time jobs for economic reasons also hit an all-time high of 22.8%. That reading may be a more accurate picture of the current jobs situation.”

Dow jumps 300 points higher, shaking off report that shows the worst U.S. unemployment rate since the Great Depression

“…the steps that the Federal Reserve Bank has already taken, coupled with the stimulus that Washington is also providing, are the main reasons why we are unlikely to re-experience that terrible time in world history”

U.S. companies cut thousands of workers while continuing to reward shareholders during pandemic

Caterpillar…announced a $500 million distribution to shareholders April 8, about two weeks after indicating that operations at some plants would stop.

Restaurants Reopen, but Not Everyone Is Coming Back to Work

Restaurant Owners say they have little sense of how many customers will feel safe to eat out again.

Tech firms emerge as big winners in new COVID-19 economy

“Investors now are looking forward to those kinds of business models and companies that will not only survive this environment but thrive as a result of it,”

Layoffs Start Turning From Temporary to Permanent Across America

Plenty of layoffs that just a month ago were labeled “temporary” are now tagged “indefinite” or “permanent.”

Vegan rivals smell blood as virus hits meat supply

“…plant-based burgers and chicken alternatives have a window of opportunity right now to present themselves as more reliable alternatives –- or potentially the only choice –- next to empty meat cases in grocery stores”

Grubhub Collected Record Fees From Restaurants Struggling To Stay Alive During The Pandemic

They also discovered Grubhub was secretly buying up thousands of restaurant domain names and using them to build shadow websites that competed with pages operated by restaurants

The first quarantine concert foretells music’s dystopian future

“When we think about the live music business returning to something like normalcy, it’s hard to imagine that happening until there’s a reliable, highly effective treatment, and probably a vaccine.”

Sex robots so realistic you can ‘hear heartbeat and breath’ in AI breakthrough

“I’m waiting for a way you can just plug in your Alexa or Siri into your doll, and your doll will just start talking to you…These are just plans, nothing official yet, but we’re tinkering along with how we can put dolls in a mode where they can just talk to you, or flirt with you, all those romantic things you would expect your doll to do.”

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