BC ECONOMY
Saved by @Jacobtldr

Many of our restaurants, and the JOBS they provide, will not survive being forced to close for indeterminate time periods. Here’s what one restaurant owner shared...

 As I walk into the grocery store with 30 other people at the same time, I think about my restaurant which allows parties of 6 total, and meticulously spaces out reservations by 10 minutes ensuring guests that aren’t from the same party do not arrive at the same time.
As I take a cart, that has had just the handle sanitized, I think about my restaurant which invested thousands of dollars (so far) on ink and paper to print disposable menus to ensure no two guests touch the same menu.
As I walk to the produce aisle with 15-20 other people around me, I’m reminded of the strict “no mingling /no walking around the restaurant other than to use the washroom or enter/exit” policy we have in place and the 6ft distance btwn tables which has cut our capacity in half.
As I watch the woman next to me pick up apples, check them over closely and put them back on the open pile and repeat this until she finds the perfect apples,the same thing that all other people that day who want an apple will then do and then put those apples into their mouths,
I think about the two step sanitation process in place at my restaurant for all cutlery and dishes and glassware in between every single guest, and the sanitation of every surface guests touch (tables, chairs, salt and pepper shakers, etc)
As I watch a man in the next aisle ignore directional arrows on the ground, I think about my restaurant & the constant redirecting staff does of guests,by locking certain doors, blocking areas off & the work my team does to not allow guests to walk where they’re not supposed to.
As I walk down the cereal aisle, I see a person with their mask off so they can talk on the phone, and I’m reminded of my restaurant where our masking policy has lost us so much business.
As I check out at the cashier, I use my debit card to pay and see the plastic film covering the terminal. It was not sanitized after the person before me used it. I am reminded of the sanitizer used on the debit terminals in between each guest every time at my restaurant.
As I stand at a crowded exit trying to leave, I’m reminded of the detailed contact tracing in place at my restaurant that records the name, phone number, table number, arrival and exit time, as well as the server and section the guest sat in that is in place at my restaurant.
As I get into my car and watch all these people leave the store, I wonder which person will visit my establishment after contracting covid at this grocery store, and I wonder why on earth my restaurant will be blamed as the source.
Someone with Covid could have gone to Costco, Home Depot, Walmart, the Mall food court....any grocery store, etc. Yet it’s the restaurant that took their detailed information that will be forced to close and deemed responsible for the infection.

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Adwa: “Last time, they made us sign 15 kg while giving only 7 kg”.
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Student debt is more concentrated amongst high earners, but disproportionately amongst Black borrowers. The plot below plots the average within Income Quartiles.
1/n


But those are the averages. What's the share that's above 10k? (This is the Biden current cutoff for debt forgiveness, so a useful benchmark).

For comparison, 20% of white Americans have student debt, and 31% of Black Americans.


Let's contrast that with say, above 20k. I was surprised at how high the share remains.


When we get to 50k of student debt, or more, we see it's only about 5% of the US, and around 8% of Black Americans. Strikingly, it's a huge share of high income Black Americans (this is a known fact in the education literature, I believe).


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🚨🇬🇧🇪🇺💄👠👗💅🏻🕺💃🇪🇺🇬🇧🚨
UK’s £35bn fashion industry warns of “decimation” from #brexit - big names sign open letter to @BorisJohnson urging action. Many of 50,000 SMEs on the rack due to VAT, customs and work permit issues. Stay with me/1


You can read the full text of the letter here, co-ordinated by Fashion Round Table @FashionRoundTab, but tl;dr it says that #Brexit has left a "gaping hole" in an industry that relies of free movement of professionals. It's a familiar cry /2



@FashionRoundTab The industry, already whacked by #COVID19, is now discovering that cross-border sales are a horror (VAT, Customs, long delays) and models, stylists, photographers that used to blat around Europe can't any more. They need permits, for themselves, for their gear /3

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1- lack of clarity regarding whether a proposed change is seen as a morally good END in itself, versus a MEANS to another end, and if the latter what that end is

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I can't tell if I'm agreeing or disagreeing with @jc_econ.


Increasing government spending or reducing taxes increases demand (or reduces saving). This raises the price of loanable funds or the interest rate.

In a dynamic context, more demand means a stronger economy, the central bank raises interest rates sooner, and long rates rise.

(As an aside, we are not close to the United States needing to worry about credit risk and the risks are more overstated than understated in most other advanced economies too. But credit risk is not always & everywhere irrelevant, just look at the UK in 1976 or Canada in 1994.)

Interest rates have fallen over the last 20 yrs while debt has risen. This does not necessarily mean that debt rising causes interest rates to fall. It could also mean that other things have happened at he same time that pushed down interest rates more than debt pushed them up.

The suspects for these "other things" include slower productivity growth, slower popln growth, higher inequality, less investment, etc. All of which either increase the supply of saving or reduce the demand for investment, reducing the equilibrium interest rate.
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