Bear Market – April 5


A new week begins…

In today’s news, we discover some of the industries who are quietly feeling the pain of the coronavirus recession. Industries that are not getting a lot of attention in the news right now—like the Space Industry. Both private companies like Virgin Orbit and publicly funded agencies such as NASA are all feeling the economic effects of this bear market.

Pour yourself some coffee and have a good read…

Restaurant Industry

Restaurant Industry Calls for Bailout; Trump Wants Tax Deductions: The White House and the Restaurant Industry have different opinions on what is needed for restaurants to survive the coronavirus pandemic. The President wants to fully revive a meal and entertainment tax deduction. The restaurant industry has been devastated by the pandemic—7 out of 10 establishments have had to lay off employees or reduce hours. The restaurant industry is requesting a bailout package: READ MORE

Imports

Trump Won’t Budge: Tariffs Will Remain (At Least for Now): Corporate Leaders are calling on President Trump to lift tariffs on foreign goods. So far, he’s resisting those requests, arguing that the levies don’t impose a cost on American companies. Does the economic evidence support his claim? READ MORE

Investing

Berkshire Hathaway Dumps Part of Delta, Southwest Airline Stakes: Warren Buffet’s Berkshire Hathaway Inc has announced they sold roughly 18% of its stake in Delta Air Lines and 4% of its holdings in Southwest Airlines Co. last week due to the high impacts made on the airline industry by the coronavirus. READ MORE

Tech Industry

Tech Industry Avoids Pain as Their Lobbyists Make Gains: Silicon Valley is not feeling the effects of the coronavirus crash while other industries are being pummeled. One reason why happens to be the tech lobbyists in D.C. and Sacramento, who persuade legislators at the State and Federal level to support policies that work to their advantage: READ MORE

Fitness Industry

Fitness Industry Weakened by Coronavirus Pandemic: One industry that is quietly being seriously injured by COVID-19 is the Fitness Industry. The financial blow is palpable across many brands and franchises, as people cannot go to the gym or refuse to go. And memberships have dropped like a rock. This has already led to thousands of layoffs. READ MORE

Dairy Industry

Dairy Farmers in U.S. Told to Dump Milk As Pandemic Upends Food Markets: “We need you to start dumping your milk,” said the man from the Dairy Farmers of America (DFA), the largest U.S. dairy cooperative. Dairy Farmer Jason Leedle felt his stomach churn. READ MORE

Cryptocurrency

Bitcoin and Dark Web Markets Feel Pain from COVID-19: The global pandemic is causing the price of Bitcoin to drop sharply, which is reducing the activity in the Dark Markets, which are a part of the Dark Web, which is a subset of the Deep Web. What is the “Deep Web”? The Deep Web is the part of the internet that is not indexed by Google or other search engines. Experts will tell you that the Deep Web is the largest part of the internet. READ MORE

Space Industry

7 Space Industry Organizations Facing Hard Times from Coronavirus: Madonna called COVID-19 “the great equalizer.” Her description appears to apply to the economy as well, where almost every industry is feeling some effects from the pandemic. One is the Space Industry, where both private companies and publicly funded organizations are feeling the pain of the sudden recession. Yes, NASA and Virgin Orbit are two of the 7 on the list. SEE 5 MORE

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