‘Can’t Even Give It Away’: Gasoline at $1 Is Warning for Economy

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London, Kentucky, became the first U.S. city to see pump prices fall below $1 a gallon as coronavirus-related lockdowns halt transit across the country — and it won’t be the last.

Several others are poised to join the club in the coming days as the pandemic crushes fuel demand and sends the economy to the brink of a recession. While cheap fuel usually spurs gas-guzzling Americans to hit the highways, the latest downturn in prices portends dark times ahead.

“You almost can’t even give it away,” said Paul Bingham, head transportation economist at IHS Markit Ltd. “The price elasticity has totally changed. It’s full-on demand destruction.”

Nationwide, pump prices are headed for depths not seen since the Great Recession. Retail gasoline is expected to average $1.99 a gallon in the next two days and fall as low as $1.49 by mid-April, the lowest level in 16 years, according to Patrick DeHaan, head of petroleum analysis at Gasbuddy.

The downturn comes as large swathes of the country are under containment orders in an effort to curb the virus that’s killed more than 15,000 people globally. U.S. unemployment could rise 30% this quarter while the GDP may drop by 50%. In that environment, low gasoline prices won’t induce consumption in the way it typically does, and may instead be yet another indicator of a struggling economy. (Read more from “‘Can’t Even Give It Away’: Gasoline at $1 Is Warning for Economy” HERE)

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MSNBC’S Joe Scarborough Ripped for Falsely Claiming ‘No Doctors’ Were at White House Presser, Urges Networks to Cut Away

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MSNBC host Joe Scarborough was slammed on social media for falsely claiming that “no doctors” were present at Monday’s White House press briefing on the coronavirus outbreak.

Scarborough was among many media personalities on Twitter who quickly noticed that Dr. Anthony Fauci, a prominent figure in the White House’s coronavirus task force, was missing from the briefing. The liberal TV personality quickly concluded that the briefing wasn’t necessary.

“There is no public benefit to this briefing. The networks should all cut away,” Scarborough tweeted. “Bland pronouncements, the repeating of catch phrases daily, bad medical advice. No science, no doctors, no Fauci. Just Trump’s Roy Cohn.” . . .

“Dr Birx is right next to him,” National Republican Senatorial Committee senior adviser Matt Whitlock told Scarborough.

“Are you dumb or just a liar?” The Daily Wire reporter Ryan Saavedra reacted. “Dr. Deborah Birx spoke and the press conference is not over.”

(Read more from “MSNBC’S Joe Scarborough Ripped for Falsely Claiming ‘No Doctors’ Were at White House Presser, Urges Networks to Cut Away” HERE)

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Federal Prisons Are Failing To Monitor Communication Between Terrorist Inmates, Audit Finds

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The Federal Bureau of Prisons is not properly monitoring the communication of inmates with ties to terrorism, an audit by the Department of Justice’s inspector general (IG) Wednesday found.

The IG’s 61-page report showed that the Bureau of Prisons (BOP) did not take adequate steps to track cellblock conversations, phone calls, emails, postage mail, and video sessions of domestic and international terrorist inmates.

The audit also found that the BOP failed to realize that 28 individuals who fit the federal definition of an international or domestic terrorist were even in its custody.

“We identified significant deficiencies related to the BOP’s identification of terrorist inmates and its monitoring of terrorist, other high-risk, and general population inmate communications,” the audit said.

“Specifically, we found the BOP’s list of terrorist inmates provided to us at the beginning of our audit did not include 28 incarcerated individuals that had an identified nexus to terrorism and, as a result, their communications were likely not monitored according to BOP policy,” the audit continued. (Read more from “Federal Prisons Are Failing To Monitor Communication Between Terrorist Inmates, Audit Finds” HERE)

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Costco Just Told Hoarders What They Can Do With All Their Excess Toilet Paper

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For days and days it looked like Black Friday at Costco. Or, as the Instagram account “CostcoBuys” put it, “Panic at the Costco.” . . .

Customers lined up around stores to buy things they most certainly did not want to run out of in the case they’d be under quarantine for days on end.

And the rolled gold was increasing in value in the eyes of the hoarders. As a joke, this toilet paper roll was put in the fine jewelry section of Costco with a $200 price tag. . .

View this post on Instagram

So it’s come to this 😂

A post shared by Costco Buys (@costcobuys) on

But now Costco has made an announcement. All of the toilet paper, paper towels, hand sanitizer, wipes, Lysol, water bottles, and rice hoarded by people by the cart and truck full will not be taken back. Signs in the store read (in all caps), “RETURNS WILL NOT BE ACCEPTED ON TOILET PAPER, PAPER TOWELS, SANITIZING WIPES, WATER, RICE, LYSOL.”

(Read more from “Costco Just Told Hoarders What They Can Do With All Their Excess Toilet Paper” HERE)

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LARGEST IN HISTORY: President, Congress Agree on $2 Trillion Coronavirus Emergency Relief Bill

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By Breitbart. President Donald Trump and Congress reached a deal on the terms for a $2 trillion emergency relief bill to address the economic impact of the ongoing coronavirus outbreak, early in the morning on Wednesday.

Politico reported:

Lawmakers and the Trump administration reached an agreement on a nearly $2 trillion coronavirus emergency rescue package, a move intended to assist businesses and millions of Americans amid an unprecedented halt in the economy.

The announcement caps five days of tense negotiations between senators and the White House. Both the Senate and House still need to approve the bill before sending it to President Donald Trump for his signature.

The president had sounded an optimistic tone in his briefing for reporters at the White House on Tuesday evening, though Republicans had been scathing in their criticism of Democrats for blocking Senate passage of a relief bill that had been agreed to by the two parties on Sunday. (Read more from “President Trump, Congress Agree on $2 Trillion Coronavirus Emergency Relief Bill” HERE)

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White House and Senate Reach Deal on $2 Trillion Coronavirus Relief Package

By Axios. The White House and Republican and Democratic Senate leaders struck a bipartisan deal early Wednesday over a $2 trillion stimulus package designed to ease the economic impact of the novel coronavirus, per AP.

Details: Senate Majority Leader Mitch McConnell tweeted soon after the deal was reached, “At last, we have a deal. After days of intense discussions, the Senate has reached a bipartisan agreement on a historic relief package for this pandemic. We’re going to pass this legislation later today.”

White House legislative affairs director Eric Ueland, told reporters just before 1 a.m. a deal had been reached but the bill’s text had yet to be completed, the New York Times reports.

“We have either, clear, explicit legislative text reflecting all parties or we know exactly where we’re going to land on legislative text as we continue to finish,” he added.

. . .Per Axios’ Alayna Treene, the emergency legislation will deliver desperately needed aid to American families, small businesses and corporations hit hardest by the virus. (Read more from “White House and Senate Reach Deal on $2 Trillion Coronavirus Relief Package” HERE)
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What’s in the Emergency Relief Bill?

The stimulus bill — by far the largest ever proposed — comes with a price tag equivalent to 9% of the nation’s gross domestic product and is meant to provide direct financial aid to help individuals, hospitals and businesses. It includes $300 billion for small businesses, $150 billion for local and state governments and $130 billion for hospitals, according to those involved in the negotiations. . .

The amounts of the one-time payments, which officials hope could go out to Americans as soon as early April, will be based on income reported in 2018 taxes, declining gradually beginning with individuals who made $75,000 or married couples filed jointly who made $150,000. Individuals making $99,000 or above or married couples making $198,000 or more would receive no check. People would also receive an additional $500 per child.

Schumer said negotiators agreed to put “unemployment insurance on steroids” by expanding those covered to include people who are furloughed, gig workers and freelancers, and by increasing the payments by $600 dollars per week for four months on top of what states provide as a base unemployment compensation. (Read more about the emergency relief bill HERE)

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Recent Poll: Trump’s Approval Rating Jumps 5 Points to 49%, Matching His All-Time High

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President Donald Trump’s job approval rating jumped 5 percentage points to 49% in the latest Gallup survey, matching the highest mark of his presidency.

Trump enjoyed a 49% approval rating in late January and early February during the time of his acquittal in the Senate impeachment trial. That week was a really good week for the president. But since then, his rating had dropped. Now it appears that the president is again enjoying a “small rally of public support,” as he has reclaimed his all-time high.

The bump is likely due to a favorable view of how Trump has handled the COVID-19 outbreak within the United States, Gallup reported:

Trump’s response to the novel coronavirus pandemic may be behind his higher overall approval rating. Americans give the president generally positive reviews for his handling of the situation, with 60% approving and 38% disapproving. Ninety-four percent of Republicans, 60% of independents and 27% of Democrats approve of his response.

Trump also gained favor from two unlikely sources: Democrats and independents. While the president’s approval rating among Republicans held steady at just over 90%, his approval rating among Democrats grew by 6 points and grew among independents by 8 points in the recent survey. (Read more from “Recent Poll: Trump’s Approval Rating Jumps 5 Points to 49%, Matching His All-Time High” HERE)

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State Department Responds After Chinese Ambassador Says It’s ‘Crazy’ to Blame Coronavirus on U.S. Military

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The State Department backed up China’s Ambassador to the U.S. Cui Tiankai for calling the Chinese Foreign Ministry’s coronavirus conspiracy that the U.S. Army was responsible for the virus’ outbreak in Wuhan a “crazy thing.”

“We welcome Ambassador Cui’s comments calling the Chinese Foreign Ministry’s statement a ‘crazy thing’ that blamed the U.S. Army for the #coronavirus outbreak in Wuhan,” tweeted State Department spokeswoman Morgan Ortagus. “Saving lives is more important than saving face.”

“There are people who are saying that these virus are coming from some military lab, not of China, maybe in the United States,” Cui said in an interview with CBS’ “Face the Nation,” adding: “How — how can we believe all these crazy things?”

Cui called the idea “crazy” even before the spokesperson for the Chinese Ministry of Foreign Affairs, Zhao Lijian, began promoting the conspiracy.

But even after the idea that the U.S. military was responsible for the coronavirus outbreak in Wuhan was state-sponsored, Cui stood by his comments, calling such an idea “crazy.” (Read more from “State Department Responds After Chinese Ambassador Says It’s ‘Crazy’ to Blame Coronavirus on U.S. Military” HERE)

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U.S. City Orders Gun Stores to Shut Down

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Gun shops in Los Angeles are nonessential businesses and will have to close their doors amid coronavirus restrictions, Los Angeles County Sheriff Alex Villanueva said Tuesday.

“There are hundreds of businesses which, through no fault of their own, do not fall under the Governor’s definition of critical infrastructure,” Villanueva said during a press conference. “As a result, I have instructed my deputies to enforce closures of businesses which have disregarded the Governor’s order (gun stores, strip clubs, and other non-designated businesses).” . . .

The announcement comes one week after California Gov. Gavin Newsom issued a shelter in place order directing the state’s nearly 40 million residents to stay home, beginning March 20 to help stop the spread of coronavirus. . .

Last week, the California Rifle and Pistol Association issued a bulletin arguing that gun stores are essential businesses and should be allowed to continue operation. (Read more from “U.S. City Orders Gun Stores to Shut Down” HERE)

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Conservatives Fear ‘Temporary Relief’ Spending Will Lock in New Government Programs Forever

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As a multitrillion dollar emergency coronavirus spending package ground toward passage Tuesday, conservative activists worried that this temporary measure to keep the economy afloat during the pandemic will instead lead to a permanent expansion of the federal government. . .

A repeatedly expressed fear was that new benefits will prove difficult to take away once enacted, even after the economy improves, and elevated spending will be difficult to claw back to pre-coronavirus levels once the crisis is averted.

“Conservatives believe economic freedom is essential to limiting the current economic crisis and accommodating a fast recovery following the economic turmoil caused by the coronavirus,” the Club for Growth, a leading conservative group, said in a statement. “And above all, whatever Congress does, it should first and foremost follow the Hippocratic Oath and ‘DO NO HARM.’” The Club is still reviewing the current bill, according to a spokesperson.

Democrats and Republicans have sparred over the exact contents of the emergency legislation, with each accusing the other of prioritizing pet programs over cash-strapped businesses and workers stuck at home in an effort to slow the spread of coronavirus. But President Trump and lawmakers mostly agree on new federal spending to avert a coronavirus-induced economic collapse, with Treasury Secretary Steven Mnuchin playing a significant role in negotiating with Senate Democrats. And Senate Republicans have repeatedly rebuked their Democratic colleagues for blocking a bill.

This has put conservative groups and lawmakers who are supportive of Trump, but critical of excessive spending, in an awkward position. While conservative opposition to the red ink billowing from Washington intensified under the Democratic administration of Barack Obama, much of this infrastructure was created in response to the bipartisan bank bailout signed into law by the previous Republican president, George W. Bush. These groups in turn helped elect members of Congress who promised to be more consistently fiscally conservative, some defeating pro-bailout incumbents in Republican primaries. (Read more from “Conservatives Fear ‘Temporary Relief’ Spending Will Lock in New Government Programs Forever” HERE)

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Trump Announces Postponed Deadline on Real ID Requirements

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President Trump announced that the federal government will delay the compliance deadline for Real ID travel requirements, minimizing the need for drivers to update their licenses in person. . .

“I’m also announcing that we’re postponing the deadline for compliance with Real ID requirements. At a time where we’re asking Americans to maintain social distancing, we do want to require people to go to their local DMV,” he said. “We will be announcing the new deadline very soon.”

Oregon Sen. Ron Wyden said last week that he would propose legislation that would delay the federal Real ID requirements for travel “until at least” September 2021, citing the coronavirus. He said the bill has bipartisan agreement, including from Republican Sens. Steve Daines and Ron Johnson. (Read more from “Trump Announces Postponed Deadline on Real ID Requirements” HERE)

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