Powell: “Significant Uncertainty” of economic recovery

Jerome Powell, Federal Reserve Chairman commented on sluggish U.S. economic recovery, and its significant impact on small businesses, lower income, and minority Americans on Tuesday at his semiannual testimony before Congress.

During his testimony, Powell told Congress that while some indicators have shown improvement, recovery was still far off, and that “The levels of output and employment remain far below their pre-pandemic levels, and significant uncertainty remains about the timing and strength of the recovery,” to the Senate Banking Committee.

Last Wednesday, U.S. officially announced recession. With the pandemic still underway, if there is not much help from the federal level then small business, lower-income, and minority Americans are at risk.

Powell stated, “if economy recovers too slowly, we lose more than just the business. This businesses are the heart of our economy and often embody the work of generations.”

Powell also said, ”Low-income households have experienced, by far, the sharpest drop in employment, while job losses of African Americans, Hispanics, and women have been greater than that of other group,” and “If not contained and reversed, the downturn could further widen gaps in economic well-being that the long expansion had made some progress in closing.”

Powell stressed previously Fed will deploy everything in its power to aid for recovery, but he didn’t mention exactly when and how.

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Rare Giant 65 pound Turtle stumbled into Fairfax County, VA

Photo from Wikipedia

It seems that while every Human beings are in quarantine under the global pandemic with coronavirus but wild animals are free from all the rules and regulations.

Patch reported that on May 28, at the residential neighborhood in the Kingstowne area, in the suburban areas of DC region, a huge turtle crossed the road.

Local news source said, it was 65 pound alligator snapping turtle.

Snapping turtle can be found very easily in almost every pond in VA, but this alligator snapping turtle is very rare to be found in Northern VA.

Generally, alligator snapping turtle is native to river drainages flowing into the Gulf of Mexico, Florida panhandle, East Georgia, and East to west Texas.

According to animal police, it was found near a residential pond.

Police took this alligator turtle to the Fairfax County Animal Shelter and named it Lord Fairfax.  Lord Fairfax’s new house is Virginia Zoo in Norfolk now.

The Virginia Department of Game and Inland Fisheries tells residents to research what it takes to care for a turtle before getting one as a pet. Experts believe this alligator turtle can reach weights above 200 pounds.

Snapping turtle can be weights up to 50 pounds.

The turtle is one of longer living animals, and some can be over 100 years old. It is hopeful that Lord Fairfax enjoys his life in Norfolk from now on.

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Fox Compares Joe Biden to John McCain for his “ungentlemanly comments”

With less than 5 months left of battle for the US presidential election, the two runners are acting very sensitively and delicately with every moment, going against each other.

Last night, Joe Biden, the democratic nominee interviewed with the Daily Show on Comedy Central, and he said ”my single greatest concern [is that] this president is going to try to steal this election. This is a guy who said that all mail-in ballots are fraudulent … while he sits behind the desk in the Oval Office and writes his mail-in ballot to vote in a primary.” This caused a reaction and backlash from the conservative party media, primarily, Fox news network.

Karl Rove, a former deputy White House Chief of staff and Fox News contributor told “The Daily Briefing” on Thursday, as he compared the attitudes of the late Sen. John McCain during his presidential run against Former Pres. Obama, and Joe Biden’s current behavior against current Pres. Trump.

“A woman stood up at a question and answer session that he was having and stood up and said ‘I think Barack Obama is terrible and I think he is an Arab.’ [McCain] said ‘no, he is a decent American with a good family. I just happened to disagree with him on the issues,’” Rove reminded, highlighting the rather objective and gentlemanly behavior John McCain took against misinformed public, hinting, that the statement Joe Biden gave showed the biased, subjective, and ungentlemanly behavior unworthy of the US presidency.

Whether the democratic party supporters agree with Rove is another question, and the fact that Karl Rove is a Fox News contributor, also tilts his opinion towards a bias in support of the Republican party. It is ultimately up to every and each individual voter as to whether Pres. Trump is trying to steal the election, or whether Joe Biden is an ungentlemanly individual. Only the election results in November 2020 will tell how Americans truly feel about the two candidates.

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Did Department of Labor Lie about the Unemployment Rate?

US officially announced recession began in February. Since COVID-19 hit globally, most industries closed, quarantine followed, and unemployment rate skyrocketed to almost 20%.

According to Forbes’s analysis, Department of Labor’s Bureau of Labor Statistics indicated that 2.5 million jobs were added in May presenting a picture that the U.S. economy is recovering from the quick recession, but in fact, Bureau of Labor Statistics has made a big mistake by counting 4.9 million unemployed people as being employed.

If mistakes were corrected, unemployment rate would have risen to 16.1% in May. The corrected April figure would have been close to 20% rather than 14.7%.

US has officially entered first recession since 2007-2009, the housing market economic crisis. Some economists say 2020 recession and 2009 recession are of two different characteristics: first one is self-inflicted and latter one is not self-inflicted.

That being said, some economists hope that this recession might be less time consuming to overcome than the previous one, as this was an act of nature, and not one caused by mishaps in the market itself. Only time will tell; nonetheless, the world economy is expected to shrink by 6% by the end of 2020.

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BTS and Its fan club donate $2 Million to BLM

photo from Wikipedia

K-Pop Megastar BTS and its fan group, “One in An ARMY” has raised funds to support the Black Lives Matter movement and donated $2 million.

BTS initially donated $1 million to Black Lives Matter, and its fan club raised the additional $1 million more, matching the group’s donation.

BTS tweeted last week, “We stand against racial discrimination. We condemn violence. You, I and we all have the right to be respected. We will stand together.#BlackLivesMatter” on its tweet account.

The BTS is the first donor to donate to Black Live Matter movement as a foreign figure.

BTS, also known as the Bangtan Boys, is a seven-member South Korean boy band formed in Seoul in 2010 and managed under Big Hit Entertainment. The group is ranked #4 in Billboard’s Top Social Artists of the 2010s, and the highest group on the list.

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Virginia KKK Head Harry Rogers Charged for Running Car through Peaceful Protest

Harry Rogers (36, Head of Virginia’s Ku Klux Klan) revved his truck and drove into the peaceful protestors during the Black Lives Matter march last Sunday night in Richmond, VA. He was arrested and was charged with Attempted Malicious wounding, Felony Vandalism, Battery, and held without bond according to the Commonwealth’s Attorney in Henrico County.

During this event, Rogers hit a man, but the victim refused further treatment.

Witnesses reported that a vehicle had “revved their engine and drove through the protesters occupying the roadway.”

Henrico County Commonwealth’s Attorney Shannon Taylor stated “While I am grateful that the victim’s injuries do not appear to be serious, an attack  on peaceful protesters is heinous and despicable and we will prosecute to the fullest extent of the law.”

Rogers is scheduled to appear for a hearing on August 18.

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US Airline Companies Begin Stretching Wings as Traveling Restrictions Lessen

(Photo by J Kim)

After Warren Buffet’s airline stocks were sold amidst the first Coronavirus wave, Airlines saw many layoffs, both voluntary and involuntary salary cuts to maintain the industry afloat.

Coronavirus hit globally and almost all of Americans’ feet were bound by the strict stay-at-home and quarantine orders. A very few essential workers have used airlines, and within domestic borders only.

However, as people begin coming out of the stay-at-home order and quarantine orders, Airlines are beginning to hope for travelers to gather once more.

American Airlines plans to fly 55% of its domestic schedule in July, compared to May when it flew 20% of its schedule from a year earlier.

United, American, Delta, Southwest saw a boost in their schedules in June by 27% compared to May.

The optimistic view brought American Airlines stocks surging Thursday. The carrier gained 41% to close at $16.72, the biggest jump for the one day while United and Delta added 16%, and 14% respectively.

All US airlines are eyeing international flights once more, although highly cautious.

This sign seems to indicate some level of recovery being sought out in the airline industries, but it is still too early to tell.

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Sweden Regrets Relaxed Social Distancing as it see COVID Deaths Worsen

Photo from Google Images

Sweden was the envy of most people around the globe, as people went shopping, attended school, worked, and dined in restaurants during the Coronavirus pandemic, as most people were forced into strict stay-at-home enforcements.

But now, State chief epidemiologist Andre Tegnell anguishes about soaring high death rates caused by the coronavirus contagion.

Earlier this week, Sweden’s death rate per capita rose to the highest in the world, according to the Guardian. At 43 fatalities per 100,000 people, it has far surpassed neighboring countries, Denmark and Norway which have imposed strict stay at home orders.

Some Democrat critics shows strong rebuke against Tegnell’s measure which originally asserted that relaxed social distancing against Coronavirus pandemic would be more sustainable long-term than severe and sudden lockdowns enforced by most governments around the world.

Sverigedemokraterna (Sweden Democratic Party) tweeted:

“Sveriges coronahanteringen blir mer obegriplig för varje dag.” (“Sweden’s corona management is becoming more incomprehensible for each day.”)

Whether Mr. Tegnell truly regrets this or not is still unclear; however, Sweden is seeing a gross domestic product slump of 7 percent, which is about the same as the rest of Europe, but Sweden is also seeing the highest fatalities in Europe as well, showing that Mr. Tegnell’s policy of allowing more deaths initially to protect the economy and arrive at herd immunity faster than rest of Europe is not working as intended.

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SpaceX Places momentous foot in the Sky: “Endeavor” Flies 19 Hours to ISS

Photo from NASA TV

More than 300,000 people gathered nearby to watch the historical launch from the Kennedy  Space Center to the International Space Station on Saturday.

The two NASA astronauts’ family and Vice President Pence attended to bid them good luck.

And on Sunday, Douglas Hurley and Robert Behnken, two NASA astronauts arrived at the International Space Station without any inconvenience, even “succeeding sleep.”

Even with bad weather, including thunderstorms and threat of lightning strikes, could not stop the Endeavour and its astronauts.

After more than 2 months of Coronavirus pandemic stress, racial conflict, and economic turmoil, this was a ray of sunshine many Americans needed.

This Project was started since 2014 between SpaceX, Boeing, and NASA, as a way to establish 20 more years of travel between Earth and space.

SpaceX launched Complex 39A before the launch of a SpaceX Falcon 9 rocket and Dragon spacecraft at the Kennedy Space Center.

Elon Musk and his SpaceX team opened in the middle of Coronavirus pandemic to complete the project. And For the first time in nearly a decade, a space shuttle took off from American soil.

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Hero Saves Day Against a Gunman at Centennial Bridge

Photo from Google Images

A Master Sgt. David Royer’s fearless act brings hope for many Americans under gloomy quarantine.

Royer was heading to his home, and he approached the Centennial Bridge in Kansas in late morning Wednesday, Royer stopped at the bridge and heard gun shots while he was talking to his fiancé on his phone. As soon as he heard gun shots, he told her to call 911 and hang up the phone. he went to out of his car and looked around and spotted the gunman.

He saw the gun man who stopped his car, stepped out of his car and began shooting at random people who were crossing the bridge.

As soon as he saw the gunman’s location, “I accelerated my truck as quickly as possible and struck the active shooter and pinned him underneath my truck.” Royer told a CNN reporter.

A motorist wounded by gunfire is a soldier, and the gunman was injured by the truck.

Many agree that without Royer’s heroic act, it could have been much worse. The gunman’s car held multiple firearms and numerous sets of bullets.

“What was a very, very dangerous situation fortunately was ended quite quickly and… very likely countless lives were saved by the person who intervened and helped,” said the police chief at Fort Leavenworth.

The hero and an injured motorist are stationed at Fort Leavenworth. Master Sgt. Royer said however that, “I don’t necessarily myself feel like I’m a hero,”

He stated that he preferred to keep his routine the same as before the incident, but many are thankful for him, and his actions certainly made sure many others would be able to keep to that routine as well.

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