Covid Impact - DJT Birthday
COVID-19’s Impact on the Global and US Economy
COVID-19 impacts the global and US economy
The COVID-19 pandemic is a bigger economic challenge than a health challenge. There are several ways to gauge COVID-19’s impact on the global and US economy. On a very macro level, we can gauge the impact by the fall in the US and global GDP due to the pandemic. The IMF expects the global economy to fall 3% this year. Notably, the IMF expected the global economy to expand by 3.3% in 2020 before the pandemic.
Global GDP will likely fall
The pandemic could shave off 6.3% from the global economic growth this year. Overall, the global economy is roughly $86 trillion. Going by the IMF’s estimates, COVID-19 would cost the global economy around $5.4 trillion this year. However, the situation isn’t that simple. First, some of the lost economic activity in 2020 might be back in 2021. Also, even the 3% expected contraction in global GDP growth looks like a fairly optimistic scenario.
Nearly 600 US health care workers have died of COVID-19
Nearly 600 front-line health care workers appear to have died of COVID-19, according to Lost on the Frontline, a project launched by The Guardian and KHN that aims to count, verify and memorialize every health care worker who dies during the pandemic.
The tally includes doctors, nurses and paramedics, as well as crucial health care support staff such as hospital janitors, administrators and nursing home workers, who have put their own lives at risk during the pandemic to help care for others. Lost on the Frontline has now published the names and obituaries for more than 100 workers.
Hundreds of boats fill Detroit River for MAGA parade celebrating Trump's 74th birthday
Hundreds of boats embarked on a voyage from Harrison Township to Detroit on Saturday afternoon in a birthday celebration for President Donald Trump, albeit one day before the president’s actual 74th birthday.
The "Make America Great Again" parade, hosted by the Michigan Conservative Coalition and Michigan Trump Republicans 2020, lasted nearly three hours with boats traveling at around 5 m.p.h. Trump 2020 flags could be seen from either side of the Detroit River near the Ambassador Bridge, the parade’s endpoint.
MICHIGAN: Massive 2-Mile Long Trump Boat Parade With Over 2,000 Boats
President Trump’s 74th birthday is on June 14, and his supporters are planning huge boat parades across America as a way to celebrate him.
Across America, tens of thousands of grassroots Trump supporters will join boat owners on lakes, rivers, the intercoastal waterway, and even the ocean, to show their support for President Trump and to let him know they’ll be voting for him in 2020.
President Trump showed his appreciation for the boat parades across the country with a tweet thanking them, saying “Love our Boaters, love our Country! #MAGA
Wall St jumps at open on hopes of economic rebound
Wall Street's main indexes opened sharply higher on Friday with the Nasdaq inching closer to a new record as investors bet on a quick bounce back in post-pandemic economic activity, shrugging off rising new COVID-19 cases in several U.S. states.
The Nasdaq Composite gained 99.08 points, or 1.00%, to 10,042.13 at the opening bell.
The Dow Jones Industrial Average rose 133.00 points, or 0.51%, at the open to 26,213.10. The S&P 500 opened higher by 24.95 points, or 0.80%, at 3,140.29. (Reporting by Devik Jain in Bengaluru; Editing by Shounak Dasgupta)