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Friday, July 31, 2020

The Rundown: U-S Economy Plunges


CORONAVIRUS DEATHS CONTINUE TO RISE AS SURGE LEVELS; ECONOMY PLUNGES 32.9 PERCENT: The number of daily coronavirus deaths in the U.S. is continuing to rise, even as the number of confirmed cases in the Sun Belt hot spot states appear to be leveling off. Still, cases are growing in the Midwest, and in close to 30 states overall. There were more than 1,500 deaths yesterday, as the average number of daily deaths has increased more than 25 percent over the past week. Florida reported 253 deaths, its third straight daily record, Texas had 322 deaths and California had 391. There have been more than 152,000 deaths in the U.S. overall, according to Johns Hopkins University's count as of early this morning, and more than 4,494,000 confirmed cases.

NY Times 7/31/20
The U.S. economy plunged by just under one-third in second quarter, with the Commerce Department yesterday estimating a 32.9 percent annual rate decline in gross domestic product (GDP) from April to June, driven by the business shutdowns and lockdowns caused by the coronavirus pandemic. The U.S. hasn't hadn't anything close to that kind of decline in GDP dating back to when records began in 1947, with the previous worst quarter being a 10 percent drop in 1958. The steep drop was driven by a collapse of consumer spending, which plunged at 34.6 annual rate last quarter.

It was also reported by the Labor Department yesterday that more than 1.4 million people applied for first-time unemployment benefits last week, the 19th straight week that more than one million Americans have made initial unemployment benefits claims. That news came as Congress remained at a stalemate on negotiations on a new coronavirus aid package and the Senate adjourned for the weekend, even as the $600 weekly in additional federal unemployment benefits is expiring today.

European Union Extends Ban on U.S. Travelers: The European Union again extended its ban on travelers from the U.S. yesterday (July 30th). The E.U. began lifting its travel ban on people from outside the E.U. on July 1st, but the U.S. wasn't included among the initial list of countries whose citizens would be allowed in. The E.U. extended the ban on the U.S. on July 16th, and has now done it again. The decision is based on the key metric that travelers will be allowed from countries that have contained the coronavirus virus as well as or better than the E.U., which the U.S. hasn't.

➤TRUMP SUGGESTS ELECTION DELAY TO BIPARTISAN REJECTION: President Trump yesterday suggested delaying the November election, which drew a quick rejection from Democrats as well as Republicans. It's also not something a president can do, with only Congress having the constitutional power to move an election. Trump floated the idea in a tweet, as he continued to make unfounded claims that expanding mail-in voting because of the coronavirus pandemic would lead to widespread voter fraud:  "With Universal Mail-In Voting (not Absentee Voting, which is good), 2020 will be the most INACCURATE & FRAUDULENT Election in history. . . . Delay the Election until people can properly, securely and safely vote???"

In a press conference later in the day, Trump said, "I don’t want to delay. I want to have the election. But I also don’t want to wait for three months and then find out that the ballots are all missing, and the election doesn’t mean anything." 


Republicans expressed rare disagreement with Trump in shooting down the idea, and Democrats charged Trump is trying to undermine the election because polls show him losing to Joe Biden, and claimed he was trying to distract from the day's news about the GDP plunging by nearly one-third last quarter. Senate Minority Leader Chuck Schumer said, "He’s always trying to divert attention from his overwhelming failure on Covid. And it’s not going to happen."

➤PROSECUTOR SAYS WON'T BRING CHARGES AGAINST EX-OFFICER AFTER REOPENED PROBE INTO MICHAEL BROWN SHOOTING: St. Louis County Prosecuting Attorney Wesley Bell announced yesterday that he won't bring charges against the former police officer who shot and killed Michael Brown in Ferguson, Missouri, in 2014, saying he'd reached decision after having opened up an unannounced new probe into the case that lasted five months. Bell's decision comes after a St. Louis grand jury declined to indict Darren Wilson in 2014, and the Justice Department also declined to charge him the following year. Bell, who said his "heart breaks" for Brown's parents, explained, "The question for this office was a simple one: Could we prove beyond a reasonable doubt that when Darren Wilson shot Michael Brown he committed murder or manslaughter under Missouri law? After an independent and in-depth review of the evidence, we cannot prove that he did." However, he said, "our investigation does not exonerate Darren Wilson." The killing of the African-American Brown by Wilson, who is white, was an early focus of the Black Lives Matter movement. Brown's parents had hoped that Bell, who is the county's first Black prosecutor, would file charges after a new investigation.

Newsday 7/31/20
➤JAZZ, LAKERS WINS AS NBA SEASON RESTARTS: The Utah Jazz and the L.A. Lakers were the winners yesterday as the NBA restarted its season with two games in its Walt Disney World "bubble." The Jazz beat the New Orleans Pelicans 106-104 in the first game of the restart, and the Lakers beat the L.A. Clippers 103-101 in the second.


In both games, the players, coaches and referees kneeled together during the National Anthem in support of racial justice and equality, their actions following the weeks of protests after George Floyd's death. Although the NBA has a rule that players must stand during the anthem, Commissioner Adam Silver announced: "I respect our teams’ unified act of peaceful protest for social justice and under these unique circumstances will not enforce our long-standing rule requiring standing during the playing of our national anthem."

➤PHILLIES-BLUE JAYS SERIES POSTPONED AFTER TWO PHILLIES STAFF TEST POSITIVE: MLB has postponed this weekend's series between the Philadelphia Phillies and the Toronto Blue Jays after two Phillies staffers tested positive for the coronavirus. That came after it was reported earlier in the day that another Miami Marlins player tested positive, for a total of 17 players on the team. Miami's games have been postponed through the weekend.

➤REPORTS: MLB DOUBLEHEADERS TO BE SEVEN-INNING GAMES: Any MLB doubleheaders played this season will now be seven-inning games, according to media reports yesterday. The rule will go into effect on Saturday. The change is the latest big rules change MLB has made for the coronavirus-shortened season. Others include having designated hitters in the National League and putting a runner at second base to start all half-innings in extra innings.

SEC TO HAVE CONFERENCE-ONLY GAMES: The Southeastern Conference will play only conference games this season, with the SEC schools agreeing to a 10-game schedule that will begin September 26th. The SEC championship game, originally scheduled for December 5th will be pushed back to December 19th, 13 days before the College Football Playoff semifinals are scheduled to be played. The Big Ten and Pac-12 have already announced plans to play only conference games, and the ACC will play only one nonconference game.


➤HURRICANE ISAIAS FORMS: Hurricane Isaias formed Friday in the Caribbean just north of the Dominican Republic with sustained winds of 80 mph, the National Hurricane Center announced in a special midnight bulletin.

An Air Force Reserve Hurricane Hunter determined winds were strong enough for Isaias to be the second named hurricane of the season, the NHC said. In its 11 p.m. update, the NHC reported winds were 60 mph.

While the latest track is off the coast of Florida, a tropical storm watch has been issued for the east coast of Florida from Ocean Reef northward to Sebastian Inlet, with more watches or warnings for the state possible.

“There is a risk of impacts from winds, heavy rainfall, and storm surge this weekend along the Florida east coast and spreading northward along the remainder of the U.S. east coast through early next week,” the NHC said, though Isaias’ track and intensity forecast remain uncertain.

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