Stockman’s Corner

Careening Toward The Deep End

With 97% of companies reporting, it appears that aggregate S&P 500 net income posted at a paltry $661 billion annualized rate in Q1. That’s down 50% from the Q4 2019 level of $1.289 trillion, and marks the lowest posting since since Q4 2009 when the US economy was deep in the Great Recession swamp.

America’s Daisy Chain Of Debts In The Cross-Hairs Of Lockdown Nation

It’s Memorial Day weekend, which is ordinarily a time of massive travel mobilization by the American public. But the TSA reported that airport screenings yesterday (May 21) were just 318,449, representing a whopping 88% plunge from last year’s 2,673,635.

Lockdown Nation And The 5%

It turns out the number is 43.0 million. That’s the total number of new unemployment claims filed during the past 9 weeks when you add the 38.6 million claims under the regular state programs to the 4.4 million workers who have become newly eligible under the Federal bailout.