Category Archives: corona virus

Menendez provides an end around the Corona virus aid hold up.

Last Friday, U.S. Senator Bob Menendez, Democrat of New jersey, introduced S. 3550, the Municipal Bonds Emergency Act.  The bill aims to amend the Federal Reserve Act to permit the Board of Governors of the Federal Reserve System to engage in certain open market operations during unusual and exigent circumstances.  The Federal Reserve’s authority would be extended to purchase bonds with any maturity period versus the current six month maturity period under Section 14 of the Federal Reserve Act.

Mr. Menendez’s rationale for the bill is to provide cities with another avenue of financing the rising costs of addressing the COVID-19.  Mr Menendez’s argument for the bill may get an additional boost given that the U.S. Senate failed to advance a bill that is apparently blocking negotiations for a corona virus response bill that would provide between $1 trillion to $2 trillion in support, including financial aid for individuals, small businesses, and affected airlines, according to reporting by Reuters.

The bill holding up the process, HR 748, is a designed to repeal an excise tax on high-cost employer-sponsored insurance coverage. It appears that Republicans want to get the bill, which was introduced back in July 2019, out of the way before proceeding to a, now estimated, $2 trillion stimulus package that contains financial support for banks, hospitals, other health care providers, and individuals.

Until tomorrow, we stay in wait and see mode….

 

Corona virus: Atlanta looked quiet today

Auburn Avenue was not popping…

Atlanta was quiet today.  I took a MARTA ride to Auburn Avenue for a haircut.  There were no major events that I knew of occurring in the city, although I did see a few members of the Sigma Gamma Rho sorority heading to some type of get together at the Martin Luther King, Jr. Recreational Center.  I was tempted to stop and introduce myself to a couple of the ladies and let them know I was a Sigma Gamma Rho “Rhomeo” (their little brother organization), but I figured it wasn’t that damned important, so I kept trucking to my barber.

Traffic at the barbershop was a little lighter than usual.  I guess some people have decided to forego the crowds even if it meant not keeping their hair tight.  Or maybe it is the middle of the month and some people are short on cash until month’s end.  Who knows.

Quiet in the West End also …

The West End, which usually gets “lit” on a weekend has been very quiet.  Traffic on the street was not heavy.  The neighborhood CVS was quiet as well. Fortunately, I was able to find toilet paper which for some reason has evaporated off of the shelves at Kroger, Target, and other large stores.  I heard Family Dollar had toilet paper in stock but I can’t confirm this since I haven’t stepped in that store in probably six or seven years and would like to keep that streak going.

And yes, the hysteria is annoying …

The highly politicized climate has Democrats coming yea close to blaming President Trump for the Corona virus outbreak.  By China’s admission, the outbreak started in their country and continuing almost twenty years of reduction to the budgets of agencies that make their name on responding to or studying diseases didn’t give Mr Trump any leadership optics.  Nor does providing the public updates on the virus while wearing a “Make America Great Again” red hat and open collar shirt while members of your administration stand behind you wearing suits make you look presidential.

But on the flip side, maybe just enough Atlantans decided to follow the President’s relaxed lead, opting for shopping, sipping coffee outside, and taking a jog in warm today’s warm weather.

No worries.  We are still alive….