Below is the weekly summation, the main positive being the gains in the markets brought on by an accelerating recovery, the main negative that the worst yet COVID spike threatens the entire recovery. (But at least from my point of view, I'm happy to announce that I finally received Dose #1 of the Pfizer vaccine this afternoon!!!) Your bonus this Sunday night is a 23 minute video in which comedian John Oliver explains how the national debt really works and that it's not really a bad thing, something my econ professor in business agreed with. It's a 23 minute mini-course well worth checking out for perspective for those who believe any kind of debt is a bad thing, something that any business school prof would disagree with. Hope everyone enjoyed the weekend.
Succinct Summation of Week’s Events 4.09.21
Succinct Summations for the week ending April 9th, 2021
Positives:
1. Markets gain strength as economic re-opening and recovery accelerate.
2. Job openings rose to 7.367M in February, above expectations.
3. Consumer credit rose $27.6B in February, above expectations.
4. ISM Services Index came in at 63.7 for March, expectations.
5. PMI Composite came in at 59.7 for March, above expectations.
Negatives:
1. Upswing in infections and worse variants threatens entire recovery;
2. Home mortgage apps fell 5.0% w/o/w, below previous decrease.
3. Jobless claims rose 16k w/o/w from 728k to 744k, above expectations.
4. International trade in goods and services fell from $-67.8B to $-71.1B in February.
5. Factory orders fell 0.8% m/o/m, below prior increase of 2.6%.
4-11-21 John Oliver on The National Debt- The Big Picture
John Oliver on The National Debt
The national debt has long been portrayed as a burden we’re placing on future generations. John Oliver discusses how national debt works, why people are so concerned about it, and why it might be more helpful that you think.
The National Debt: Last Week Tonight with John Oliver (HBO)
Source: YouTube
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