Daily Bread for 6.24.20 | FREE WHITEWATER
FREE WHITEWATER

Daily Bread for 6.24.20

Good morning.

Wednesday in Whitewater will see an afternoon thunderstorm with a high of seventy-seven. Sunrise is 5:17 AM and sunset 8:37 PM, for 15h 19m 42s of daytime.  The moon is waxing crescent with 11.5% of its visible disk illuminated.

Today is the one thousand three hundred twenty-fourth day.

On this day in 1948, the Soviets begin the Berlin Blockade.

Recommended for reading in full —

 Annie Lowrey writes about risks of The Second Great Depression:

At this fraught moment, no one knows enough about consumer sentiment and government ordinances and business failures and stimulus packages and the spread of the disease to make solid predictions about the future. The Trump administration and some bullish financial forecasters are arguing that we will end up with a strong, V-shaped rebound, with economic activity surging right back to where it was in no time. Others are betting on a longer, slower, U-shaped turnaround, with the pain extending for a year or three. Still others are sketching out a kind of flaccid check mark, its long tail sagging torpid into the future.

Excitement about reopening aside, that third and most miserable course is the one we appear to be on. The country will rebound, as things reopen. The bounce will seem remarkable, given how big the drop was: Retail sales rose 18 percent in May, and the economy added 2.5 million jobs. But absent dramatic policy action, a pandemic depression is possible: the Congressional Budget Office anticipates that the American economy will generate $8 trillion less in economic activity over the next decade than it projected just a few months ago, and that a full recovery might not take hold until the 2030s.

At least four major factors are terrifying economists and weighing on the recovery: the household fiscal cliff, the great business die-off, the state and local budget shortfall, and the lingering health crisis. Three months ago, the pandemic and ensuing shelter-in-place orders caused mass job loss unlike anything in recent American history. A virtual blizzard settled on top of the country and froze everyone in place. Nearly 40 percent of low-wage workers lost their jobs in March. More than 40 million people lost their jobs in March, April, or May.

Karoun Demirjian, Matt Zapotosky, and Rachael Bade report Prosecutor to tell Congress of pressure from ‘highest levels’ of Justice Dept. to cut Roger Stone ‘a break’:

A federal prosecutor and another Justice Department official plan to tell Congress on Wednesday that Attorney General William P. Barr and his top deputies issued inappropriate orders amid investigations and trials “based on political considerations” and a desire to cater to President Trump.

Aaron Zelinsky, an assistant U.S. attorney in Maryland formerly detailed to Robert S. Mueller III’s Russia investigation, will tell the House Judiciary Committee that prosecutors involved in the criminal trial of Trump’s friend Roger Stone experienced “heavy pressure from the highest levels of the Department of Justice to cut Stone a break” by requesting a lighter sentence, according to Zelinsky’s prepared remarks. The expectation, he intends to testify, was that Stone should be treated “differently and more leniently” because of his “relationship with the President.”

(Read Aaron Zelinsky’s opening statement to the House Judiciary Committee.)

Zelinsky will be joined by John Elias, an official in the Justice Department’s Antitrust Division, who will say that Barr ordered staff to investigate marijuana company mergers simply because he “did not like the nature of their underlying business,” according to his prepared testimony.

 Apple stock hits all-time high:

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