Signs the economy is bad: September 11, 2020 edition

Welcome to another edition of "Signs the Economy is Bad" here at The Itinerant Librarian. This is the semi-regular (as in when I have time and/or feel like doing it) feature where I scour the Internet in search of the oh so subtle hints that the economy is bad. Sure, pundits may say things are getting better, but what do they know? And to show not all is bad, once in a while we look at how good the uber rich have it.

Another week, and another series of signs that the economy is bad. I found a lot of stuff in education and miscellaneous iterms this week, so. . .

Education News

 

•  According to this report via UPI, school closures in the U.S. may cost the economy more than $15 trillion. Yes, that is trillion with a "t". 
• Meanwhile, in the U.S. many children go hungry due to those school closures. Many public schools are struggling to do their best to keep many of those students fed. Story via NPR. 
• However, the issue is complicated due to various issues that school cafeteria workers face due to COVID-19. Story via The Atlantic. Among other issues, cafeteria workers are often senior citizens, which puts them in the vulnerable category. 
• Across the pond, The Guardian reports that one in four students are unable to access online learning during lockdowns. I get the feeling it may not be better here in the United States, but I would need to check to make sure. 
• As if things were not bad enough in the job market, college graduates who thought they were good to go with a job offer are finding that companies are now rescinding said offers. Story via VICE. 
• The public often gripes at libraries not having everything they wish they could get. This applies to e-books, where many people think we can just get them from Kindle for cheap prices like they do at home. The reality is very different, and in a nutshell, publishers are basically price gouging libraries for those e-books. RA for All has an explanation of the issue to help people see the reality. You may want to take some time to educate yourselves, and it would be nice if you then help advocate for libraries more.
  

Health and Medical News

• In the United States, the issue of what happens if a medical catastrophe happens to the average person has always been a serious concern. If a disease or medical disaster does not kill you, the outrageous medical bills will probably send someone to the grave or bankruptcy if they are lucky. This issue has been made worse now by the pandemic, especially if you lose your income. Story via Salon. There is something to be said for having a universal health care system, like most of the civilized world already has, but Americans are always notorious for two things: bitching about paying taxes (even if said taxes would contribute to the public good and their own well being) and not giving a shit about their fellow human being (the old "I've got mine, so fuck you Jack")

 

The Bad Economy  Around the World

•  The Chinese are finding that the service sector is the new driver in their economy. Story via Telesur. This caught my eye in part because the service sector has been the economic driver in the United States for quite a while, and well, let's just say that has not worked out as well as some higher ups planned; oh, it worked fine for the higher ups doing the exploiting, not so much for all those service workers. 
• Meanwhile, over in Ireland, due to COVID-19, half their pubs are shut down. Story via The Spirits Business. 
• In Great Britain, retailers worry that return to work that is starting to happen may be too late to save many retailers. Story via The Guardian.
  

 

                                                    In Other News of the Bad Economy

•  NPR reports on findings from a poll that the pandemic is putting nearly half of U.S. households at risk. Oh hun, it is not just the disease. It is the financial disasters that come along with COVID-19. 
• As if that was not bad enough, NPR also reports that nearly half of day care centers in the U.S. could be lost due to the pandemic. 
• Salon reports about the plight of cleaning ladies due to the pandemic. This affects immigrant women particularly hard. However, I find it a bit hard to be sympathetic to the profiled employer in the story, who is an immigrant herself and to be honest is mostly exploiting undocumented women to keep her cleaning business running. I feel for the undocumented women, but not so much for the employer. This exploitation issue is not new; it's just that COVID-19 has made it worse and brought it more into the open. 
• As many people are aware of by now, the Pendejo In Chief and the Party of Stupid hate the U.S. Postal Service, and they are doing their worst to try to eliminate it despite it being an essential service to the nation. One group of people this move hurts is independent musicians and music labels that rely on the USPS to deliver their goods. Story via Rolling Stone. 
• In Texas, I am sure there will be mourning as that fine cafeteria institution Luby's is likely to close down for good. Story via Dallas Observer.
  

                                                          Hustlin' in the Bad Economy

Usually I use this segment to highlight small people and small businesses that get creative in the Bad Economy. However, some big guys are also hustlin' in the Bad Economy though not in a good way. Still, one has to admire their chutzpah in making a buck or two in the Bad Economy. 

• The Miami Herald reports on a new study that finds those school shooting drills that have become a normal part of schools may do more harm than good. However, there is a whole industry making money out of those drills. As the article states, "Meanwhile, for-profit companies charge schools thousands of dollars for the training, making the active shooter drill industry worth an estimated $2.7 billion — 'all in pursuit of a practice that, to date, is not evidence-based,' according to the researchers." 
• Speaking of guns and firearms, that industry is on pace to exceed sales from 2019 in 2020, and this year still has four months to go. That comes from a story out of The Washington Examiner. How good are sales you might ask? "Sales have been so brisk this year that many shelves in gun stores are bare. What's more, ammunition is hard to find." 
• By the way, Smith and Wesson is also reporting that their sales are booming. Story via The Epoch Times. 
• Another industry that is doing well suddenly is the camping and outdoors goods business. Story via NPR. Why? In large part because a lot of people who would usually book vacations to faraway places, plane travel, trips to amusement parks and such suddenly can't do that due to the virus. What they are finding they can do is go camping, kayaking, so on at a local park and/or lake. So there is a run on outdoor equipment. People find some entertainment wherever they can. 
• Over in France, a book has the old dilemma of not doing that well on sales, or at least it is doing OK but no big deal. How do you get some sales to go up? Well, if you get a government official to call for a ban on your book, that usually does the trick nicely. Story via The Guardian.
  

Uber Rich

• Finally for this week, a look at the world of the uber rich that you and me can only read about and imagine. The uber rich may be feeling a bit of a pinch in the pandemic times, at least in the art world. It turns out that the fine art trade, you know, buying, selling fine art, having auctions, parties, receptions, has slowed to almost a halt due to the pandemic. Story via Departures.