Political campaigns used to be laser-focused on the national debt. But in the current pandemic era, both parties have been willing to spend a lot of money to support the sagging economy.
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“How can the stock market go up, while the economy is still struggling to recover amid the pandemic?” The answer is that the stock market is not the economy and vice versa.
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It’s been six months since the financial fallout from Covid-19 infected the U.S. economy. During this time, I have heard from thousands of you, some who are still struggling with a financial crisis. Here are my six financial lessons (so far) from the pandemic.
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Despite two strong months of job gains in May and June, the uptick in cases in the South and West prompted municipalities to tighten rules; caused consumers and businesses to slow down their efforts to return to pre-pandemic behavior; and slowed down job growth in July.
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For the tens of millions of Americans who have lost their jobs, there is another frightening reality to absorb: amid a global health pandemic, they no longer have health insurance.
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Government emergency efforts worked and the economy saw significant progress in May and June. But with the virus spiking in wide swaths of the country in July, hopes have dimmed hopes for a more significant third quarter bounce.
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The government is set to release the first estimate of second quarter GDP and it’s going to be a doozy.
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If the pandemic has acted as an accelerant to business trends, it has also become an accelerant to inequality. It is important to remember that there are people behind the numbers.
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As colleges and universities announce their plans for the upcoming semester, many families are worried about footing the bill for a significantly different experience. Is it worth it to shell out tens of thousands of dollars, or to go into debt, for virtual learning that may not fit the style of the student?
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