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Trump signs $484 billion coronavirus relief bill to boost small business, hospitals and testing

https://www.cnbc.com/2020/04/24/coronavirus-updates-trump-signs-relief-bill-for-small-business-hospitals.html

Summary-
This article was written about Donald Trump recently signing a relief bill that is wroth $484 billion. This relief bill is for the coronavirus. The money will be used to boost small businesses, hospitals, and testing. This bill was signed on Friday, April 24, 2020. The $484 billion I split into three parts. $370 billion goes to support small businesses and their employees. $75 billion goes to hospitals. $25 is goes towards efforts to improve testing. "The package becomes the fourth passed by Congress to respond to the outbreak, with a total cost approaching $3 trillion. As Covid-19 cases rise and sustained economic shutdowns keep millions of Americans out of work, many in Congress predict lawmakers will have more work to do to buoy the country — even as Republicans start to grow wary of the mammoth spending."

Reflection-
I chose this article because this signing of the bill just took place on Friday. Therefore, it is extremely current news. I am hopeful that this relief fund could help our nation get back on it's feet. At this point, anything helps. The things that the money has been allotted for are all extremely important and need the money if we want to reopen our economy and also flatten the curve of Covid-19 cases in the United States.

Citation-
Pramuk, Jacob. “Trump Signs $484 Billion Coronavirus Relief Bill to Boost Small Business, Hospitals and Testing.” CNBC. CNBC, April 24, 2020. https://www.cnbc.com/2020/04/24/coronavirus-updates-trump-signs-relief-bill-for-small-business-hospitals.html.

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WRe-Open Florida Task Force given sobering economic data

https://www.clickorlando.com/news/local/2020/04/20/re-open-florida-task-force-given-sobering-economic-data/

Summary-
This article was written about Governor DeSantis and how he plans to reopen Florida. More than 40 percent of tourism, recreation, retail, real estate, construction and transportation jobs are at risk. Governor DeSantis wants just as much as anyone for Florida's task force to reopen, but he wants it to be done when it is safe to do so. Florida hasn't reached it's peak yet so therefore, it isn't safe to reopen yet. As I wrote in my padlet last week, it seems like it is either we open up the economy and risk more people getting sick and dying or we keep it closed and try to flatten the curve. "The chamber’s chief economist said an optimistic projection is that Florida’s gross domestic product will take a 2.3% hit and should come back by the end of the year. His pessimistic projection is an 8.9% dip in GDP and it could take four years to recover."

Reflection-
I chose this article because it is about how my state will reopen. I am very interested in that obviously. It is scary to think that our economy could take up to four years to get back to normal. I really want our state to reopen, but South Florida is still a hot spot. Therefore, it is not safe. I just don't see how it will ever be safe to reopen without a vaccine. Without a vaccine, people will continue to get sick. Our world is so advanced. We have self driving cars, but don't have a vaccine for this yet.

Citation-
Wjxt. “Re-Open Florida Task Force given Sobering Economic Data.” WKMG. WKMG News 6 & ClickOrlando, April 21, 2020. https://www.clickorlando.com/news/local/2020/04/20/re-open-florida-task-force-given-sobering-economic-data/.

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'Lesser of these two evils': GOP congressman argues for sending Americans back to work during pandemic

https://www.usatoday.com/story/news/politics/2020/04/14/gop-congressman-saving-economy-is-lesser-of-these-two-evils/2993864001/

Summary-
This article was written about how the GOP congressman feels about the next step to fixing our economy during this pandemic. This congressman is the Indiana Republican Representative. His name is Trey Hollingsworth. Hollingsworth's office gave a statement saying, " It's hyperbolic to say that the only choices before us are the two corner solutions: no economy or widespread casualties. We can use the best of biology and economics to enable as much of the economy to operate as possible while we work to minimize disease transmission." President Trump suggested May 1 as a starting date for large parts of the economy, but the government's top infectious disease expert said that May 1 is overly optimistic. He does not believe that we will be ready to reopen our economy that early.

Reflection-
I chose this article because it is what is currently happening in. our world right now, so it is important to understand it. Many people are wondering when we will begin to try to return to normal, and this article just shows how uncertain things are. Trey Hollingsworth makes a good point when he discusses these two evils. Yes, everyone wants to return to work, see their friends, eat at a restaurant, etc. But, no one wants to get sick and possibly die. These seem to be our two options at the moment, and it is very sad.

Citation-
Lesser of These Two Evils': GOP Congressman Argues for Sending Americans Back to Work during Pandemic.” Google. Google. Accessed April 15, 2020. https://www.google.com/amp/s/amp.usatoday.com/amp/2993864001

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Coronavirus economic updates: Dow, S&P have their worst month since financial crisis

https://abcnews.go.com/Business/coronavirus-economic-updates-markets-slip-slightly/story?id=69893563

Summary-
This article was written about how the economy is being effected by the coronavirus. People are not only worried about their health now, they are worried about their jobs and our nation's economy. The dow has its worst first quarter in history. "Markets fell again in the late hours of Tuesday's trading session, with the Dow Jones Industrial Average closing down more than 400 points, or 1.84%. The S&P 500 slipped 1.6% and the Nasdaq was down by 0.95% at the close. The S&P 500 saw its biggest quarterly decline since the financial crisis of 2008. For the Dow, it was the worst first quarter -- ever."  This has happened after the amount of cases in the United States has continued to grow. There are more than 164,000 cases in the United States. Also, about 3,200 deaths in the U.S. were from COVID-19 and these numbers are growing daily.

Reflection-
I chose this article because if I wasn't taking this class, I wouldn't be thinking about the economy during the coronavirus. At first, I only was worried about health, but this has now changed. I feel as if this article relates back to our class because we have discussed The Dow throughout many of our padlet discussions. I am sure people in our class also relate to this article because of family members or themselves and how jobs are being effected.

Citation-
ABC News. ABC News Network. Accessed April 1, 2020. https://abcnews.go.com/Business/coronavirus-economic-updates-markets-slip-slightly/story?id=69893563.

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Galinat: Week 9 /                  March 23, 2020

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Galinat: Week 9 /                  March 23, 2020

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Aulani, Disney's sprawling Hawaii resort, to shutter amid coronavirus concerns

https://www.usatoday.com/story/travel/news/2020/03/21/coronavirus-disney-hawaiian-resort-aulani-close-through-march/2893606001/

Summary-
This article was written about the Disney Resort that's in Hawaii. It is going to close Tuesday, March 24th at 5:00pm local time. This will last at least until the end of March. According to the article, "Reservations for guests who had booked hotel rooms from March 24-31 will automatically be canceled, according to the advisory. Change and cancellation fees will be waived through June 30." This is going to hurt Hawaii's economy because tourism will be way less. Also, Disney is already hurting because of all of their theme parks being closed. This will be an added loss to Disney's revenue. For example, the resort has 351 hotel rooms and 481 Disney vacation club timeshare villas. With all of these emptied for multiple weeks, there will be a huge loss of money. Not to mention the amount of people that will be cancelling upcoming reservations for the summer.

Reflection-
I chose this article because I have heard multiple people say that because flights are so cheap during this time that they are going to go on vacations. Hawaii is a major vacation destination. Even if the flights are super cheap, there are very minimal hotels and restaurants open at this time. Also, it is extremely unsafe for people to travel right now if it isn't absolutely necessary. Disney corporations are extremely successful and rarely ever have had to close down. The amount of money that they make is huge and it is wild to see the shift in that due to coronavirus.

Citation-
Dinges, Gary. “Aulani, Disney's Sprawling Hawaii Resort, to Shutter amid Coronavirus Concerns.” USA Today. Gannett Satellite Information Network, March 22, 2020. https://www.usatoday.com/story/travel/news/2020/03/21/coronavirus-disney-hawaiian-resort-aulani-close-through-march/2893606001/.

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Miami Beach, Fort Lauderdale closing beaches, limiting hours at restaurant due to COVID-19 outbreak

https://www.local10.com/news/local/2020/03/15/watch-live-miami-beach-fort-lauderdale-officials-discuss-spring-break-crowds-and-covid-19-outbreak/

Summary-
This article was released after a meeting on Sunday night where the mayors of both Miami and Fort Lauderdale announced the measures that are bing taken to prevent the spread of the coronavirus. The beaches are now fully closed, bars and restaurants must close by 10pm, bars and restaurants must only operate at 50% capacity, nightclubs are closed, and concerts are cancelled or postponed. This is a very bad time financially for South Florida to have to do this. It is currently the season. Meaning that these are the months where snowbirds come to visit Florida. Also, March is an extremely busy month in South Florida due to spring break. “It simply can’t be business as usual in our City,” said Miami Beach Mayor Dan Gelber. “COVID-19 is a threat as much here as anywhere. We simply cannot endure these kinds of gatherings and crowds. Our measures are intended to send a clear message that Spring Break is cancelled and that everyone, even young people home from school, need to embrace these health and safety concerns. We are proud of our hospitality industry, and concerned with the toll it will have on our businesses and workers but we cannot elevate those concerns above very real health risks.”

Reflection-
I chose this article because this I live in Fort Lauderdale and these precautionary measures will effect me and my family. I am now back in Fort Lauderdale and was very sad to leave Regis. I tried to focus on the positive that at least I would get to go to the beach, but now I can't even do that. While on my flight home, there were many spring breakers on the plane that had already booked their trips. Little did they know that they would not be able to go to the beach or any bars. Spring break brings in thousands of college kids every week of March. The amount of money that is being lost now because of this is crazy.

Citation-
“Miami Beach, Fort Lauderdale Closing Beaches, Limiting Hours at Restaurants Due to COVID-19 Outbreak.” WPLG. WPLG Local 10, March 16, 2020. https://www.local10.com/news/local/2020/03/15/watch-live-miami-beach-fort-lauderdale-officials-discuss-spring-break-crowds-and-covid-19-outbreak/.

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With Ultra and Calle Ocho Music Festival canceled, South Florida event organizers watch coronavirus news

https://www.sun-sentinel.com/coronavirus/fl-ne-coronavirus-miami-postponed-ultra-music-festival-okeechobee-20200305-m74h7ra2z5cpzobchpbnm6fggq-story.html

Summary-
This article was written this week because there have been multiple cases of the corona virus confirmed in South Florida. Ultra music festival is an electronic music festival that occurs once a year in Miami. It bring in tons of money and travelers. The festival draws over 100,000 people. Another festival in Miami called Calle Ocho brings in over 500,000 people. Ultra has been postponed while Calle Ocho was cancelled all together. This is will ultimately hurt the economy in South Florida. The lack of tourists and concertgoers will affect airlines, hotels, restaurants, vendors, etc. The Miami city commissioner said, "We are at a point in time where cities, states and the nation are struggling to find the right balance of protecting both public health and the economy,” Russell said. “Major events like Ultra are important to our local businesses. But our first duty is to the health and safety of our residents. It’s better for all of us in the long run to make that the priority." There are other musical festivals set to take place in South Florida in the next month or two. They have yet to be cancelled or postponed though.

Reflection-
I chose this article because I live about 45 minutes away from where Ultra takes place. Many people I know go every year and have already purchased their tickets. They are extremely upset. I'm sure many business owners in the are are also upset at the money. they are going to lose without the concert happening this year. I already have my plane tickets booked for a country music festival in Fort Lauderdale called Tortuga. It is  at the end of April. In this article,  it says that Tortuga has not been cancelled or postponed yet, but they are keeping a very close eye on things. After cancelling Ultra and Calle Ocho, Miami Mayor Francis Suarez said the city made the move consistent with “guidance from the CDC, which defines mass gatherings as those with 25,000 people or more.” Tortuga brings in over 90,000 people so it will be interesting to see if Fort Lauderdale follows what Miami did.

Citation-
Crandell, Ben. “With Ultra and Calle Ocho Music Festival Canceled, South Florida Event Organizers Watch Coronavirus News.” sun. South Florida Sun-Sentinel, March 6, 2020. https://www.sun-sentinel.com/coronavirus/fl-ne-coronavirus-miami-postponed-ultra-music-festival-okeechobee-20200305-m74h7ra2z5cpzobchpbnm6fggq-story.html.

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Why You Shouldn't Believe Those G.D.P Numbers

https://www.nytimes.com/2019/12/15/opinion/gdp-america.html

Summary-
This article focuses on GDP. Not only do we hear about the economy currently, we also learn about the economy's past and future. On Friday, we will learn from the Commerce Department what the latest GDP numbers are. These numbers are expected to be good. According to this article, "Americans are dissatisfied, and have been for years, largely because the economy as most people experience it has not been booming. G.D.P. — or gross domestic product, the economy’s total output — keeps on rising, but it no longer tracks the well-being of most Americans. Instead, an outsize share of economic growth flows to the wealthy. And yet G.D.P. is treated as a totemic measure of the country’s prosperity." This is something interesting.

Reflection-
I chose this article because it is about Gross Domestic Product. We learned about this is the first few chapters that we outlined. Also, we are always talking about Gross Domestic Product in class. Therefore, this article relates to our class and what we are learning. I enjoy articles like this because it helps me continue my learning of macroeconomics out of the classroom and in the real world. the quote from this article that I found to be the most interesting was, "So it’s time to stop wondering why Americans are unhappy — and instead create a version of G.D.P. that reflects reality." It seems as if Americans won't be happy no matter what so let's see what happens.

Citation-
Leonhardt, David. “Why You Shouldn't Believe Those G.D.P. Numbers.” The New York Times. The New York Times, December 16, 2019. https://www.nytimes.com/2019/12/15/opinion/gdp-america.html.

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White House Sees Minimal Impact on U.S. Economy From China's Coronavirus

https://www.nytimes.com/reuters/2020/02/07/business/07reuters-china-health-usa-economy.html?searchResultPosition=3

Summary-
The coronavirus has continued to grow in China. In my padlet last week, I wrote about how the Coronavirus was impacting China's economy. I was curious if it was also affecting the United State's economy. According to this article, the United States is not seeing an major change in their economy because of the coronavirus. National Economic Council Director Larry Kudlow said, "There's a lot of variables involved and things we don't know. Internally we have looked at a drop in GDP of perhaps two-tenths of 1% - that's all we found so far. Again, based on the past and based on what we're seeing. We think it will be an absolute minimal impact."

Reflection-
I was interested in this article because I picked an article last week about how the coronavirus is effecting the Chinese economy. Therefore, I wanted to pick one this week about how the coronavirus is effecting the United State's economy. This article relates to our class because in our class we have learned a lot about Gross Domestic Product and in this article we hear about how much the GDP was effected by the coronavirus. This article really relates to all of us because we will in the United States and should always be informed about what is going on in our economy.

Citation-
Reuters. “White House Sees Minimal Impact on U.S. Economy From China's Coronavirus.” The New York Times. The New York Times, February 7, 2020. https://www.nytimes.com/reuters/2020/02/07/business/07reuters-china-health-usa-economy.html?searchResultPosition=3.

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Link to article- https://www.nbcnews.com/business/economy/coronavirus-hammers-chinese-stocks-economic-tolls-mounts-n1128981

Summary-
Over the last few weeks, we have seen more and more cases of the coronavirus. As of February 3, 2020, the total number of cases of the coronavirus in the United States is eleven. The coronavirus has sickened more than seventeen-thousand people in China. This has caused the economy and stocks in China to plunge. Therefore, China is expected to only show a 5.7 percent growth in Gross Domestic Product this year. Something that a lot of people are wondering right now is how far and how long the coronavirus will spread. This is obviously  important for people's health.
This also is important for the economy. For example, if the coronavirus spreads to more and more countries and people, more place's economies will be effected.

Reflection-
I found this article interesting because of how current it is. We are dealing with the coronavirus right now. This is now especially true for Boston, seeing as there was a confirmed case of the cornavrins at The University of Massachusetts Boston this past week. This is a very scary thought. I also picked this article because the economic side of it relates to our class. For example, last chapter we learned all about Gross Domestic Product and in this article we hear a lot about the predictions for China's GDP this year. The coronavirus will likely place China's GDP under six percent. In an effort to stop the spread of the coronavirus, airlines have curtailed flights to and from China. This means that airlines have lost a great deal of money. Also, China is a huge exporter of goods. This is scary because many of the things we buy on a daily basis are from China. This is another example of how their economy is going to be hurt.

Citation-
White, Martha C. “Coronavirus Hammers Chinese Stocks as Economic Toll Mounts.” NBCNews.com. NBCUniversal News Group, February 3, 2020. https://www.nbcnews.com/business/economy/coronavirus-hammers-chinese-stocks-economic-tolls-mounts-n1128981.

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Link to article- https://www.nytimes.com/aponline/2020/01/16/business/ap-us-retail-sales.html?searchResultPosition=3

Summary-
Retail sales rose a large amount last month. This is due to the fact that it was the holidays. This consumer confidence is fueled by widespread hiring and low unemployment. Therefore, shoppers have become the primary driver of the economy’s business. What is interesting about this is that many people see this positive growth, but don’t think about the prior numbers. For example, in October and November, there were downward revisions. These downward revisions partially offset the positive growth in December. The sales in December rose at electronics and appliance stores, home and garden centers, grocery store, and clothing shops. Also, online sales increased 0.2% in December.

Reflection-
I was very interested in this article because I am one of the spenders that buys things during the holiday season. Therefore, it is interesting to hear about the effects of people’s holiday spending, including my own. The part of the article that caught my eye and helped me tie it to our class is when I read, “Low unemployment and widespread hiring are fueling consumer confidence. Shoppers have become the primary driver of the economy’s growth as businesses have reined in their investment in machinery and equipment and exports have slowed.” This relates to our class because we have learned and are continuing to learn about economic growth, income, level of employment, and prices. These things all have something to do with this confidence consumers life in retail sales this past December. This article also related to another class that I have taken so it made it even more interesting. The part that related to my business leadership class was this, “Many large retailers reported disappointing results for the winter holidays. J.C. Penney, Kohl’s, Macy’s, and L Brands, the parent company of Victoria’s Secret, all reported sales declines, though Macy’s drop was less than many Wall Street analysts expected.” This is interesting because these large retailers used to be the main places that people shopped.

Citation-
Press, The Associated. “Confident Consumers Lift US Retail Sales in December.” The New York Times. The New York Times, January 16, 2020. https://www.nytimes.com/aponline/2020/01/16/business/ap-us-retail-sales.html?searchResultPosition=3.

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Link to article- https://www.nasdaq.com/articles/fed-expected-to-hold-borrowing-costs-steady-for-months-2020-01-26

Summary-
The Federal Reserve is holding their first meeting of 2020 this Wednesday, January 29th. This meeting is important because they will be releasing their interest rate decisions. These decisions are important because they affect economic growth and inflation. Many people don't expect these to change. The reason these aren't projected to change is because there currently isn't a need for change. I say this because of the fact that inflation and economic growth are doing well right now. If everyone's prediction is true that there won't be any change. This will lead to the prediction that the Federal Funds rate will hold its target rate of 1.5 and 1.75 percent.

Reflection-
In this class, we are introduced to the study of the economic forces that determine
the overall level of employment, income, prices and economic growth. I found that this article related to many of those topics. Specifically, employment, income, and economic growth. For example, these  low interest rates cause higher inflation. This high inflation then causes the real income to reduce because of the dollar decreasing. Another thing that happens because of the lower interest rates is: firms are now able to take on cheaper debt. This incentivizes them to invest more, which results in higher economic growth. When these firms invest more, there is also less unemployment.

Citation-
Hyerczyk, James. “Fed Expected to Hold Borrowing Costs Steady for Months.” Nasdaq. Accessed January 26, 2020. https://www.nasdaq.com/articles/fed-expected-to-hold-borrowing-costs-steady-for-months-2020-01-26.