News Story of the Day: It was a blood bath in April, but the United States economy was not hemorrhaging as bad as the experts had predicted.
Last month, the U.S. lost 20.5 million jobs, less than the 22 million economists had predicted. The unemployment rate shot up to 14.7 percent, which was less than the expected 16 percent. The February and March jobs reports were also revised downward.
Of course, because that is how it goes, the U.S. stock market rallied on the news as investors shrugged off the historic jobs numbers. Thanks Federal Reserve!
Chart of the Day: Uber Eats is a wasted investment for the company. Right now, it is just staying the course and hoping for a miracle. Until then, the company is losing money offering the service.
Illustration of the Day: Are you worried about death by Asian Murder Hornets? It’s time to place the nation under house arrest. If you don’t, you want your grandmother to die.
Quote of the Day: Liberty Nation’s Mark Angelides is out with a great V-E Day piece. Here is a snippet:
But it was not all parades and parties attended by hundreds and thousands of newly liberated souls. There were private celebrations, tears of joy and relief from individuals, as they realized that their lives could now continue with a little less fear, a little less hopelessness. And these are the stories that are the most interesting. These are the stories that we will most connect with when COVID-19 is but a distant memory – the quiet moments of joy as we can once again embrace a loved-one and bid hale and hearty welcome to visiting friends. These will be private celebrations, and more special perhaps because of their exclusivity.
When we emerge from this Coronavirus cocoon, we should take care not to compare our minor suffering, our inconvenience, to such a grand liberation. Perhaps we can take a moment to understand that what we have suffered, although important to us, is not even on the same scale. Yet celebrate we must, for any small victory is worthy of cheer, but let us share it with those who had it so much worse. Let our celebrations not overshadow the relief and tears of those who survived to Victory in Europe.
Tweet of the Day: Has CNBC been taken over by the Chinese Communist Party? It is quite possible. Or, the business news network is ignorant to how the country is run.
China gets top score as citizens rank their governments’ response to the coronavirus outbreak https://t.co/iwgMbWyXkM
— CNBC (@CNBC) May 7, 2020
Video of the Day: Joe Biden held a virtual rally in Tampa Bay, Florida. It was, well, not so good.
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