Cartoon

Nasty Woman

JM Ashby
Written by JM Ashby

(Cartoonist - Nick Anderson)

In other news, retail sales dropped sharply in July compared to June as congressional action ceased.

Retail sales for the month rose by 1.2%, less than the 2.3% expected by economists polled by Dow Jones and considerably lower than the 8.4% rise in consumer spending in June. Electronics and appliance sales surged more than 22% and spending on clothing and on bars and restaurants jumped roughly 5% each.

This more than 7 percent drop in July occurred while the pandemic unemployment program was giving people $600 per week. That's gone now.

Meanwhile, Trump's Department of Justice claims Yale University discriminates against Asian and -- *checks notes* -- white people?

The department said it was prepared to file a lawsuit against Yale if the school, in New Haven, Connecticut, did not take “remedial measures.”

A Yale spokeswoman said the university “categorically denies” the allegations but has cooperated fully with the investigation.

Yale is 43 percent white, 15 percent Asian, 10 percent Hispanic, and only 6 percent black according to their own statistics, so who exactly is being discriminated against here? It's probably not white people.

Finally, the Small Business Administration's system for Paycheck Protection Program loan forgiveness is open, but businesses are being advised not to use it yet because of general confusion as the rules are still changing.

Even though the forgiveness window is open, small businesses are sitting on the sidelines, accountants said. That's because the SBA continues to issue guidance in the form of frequently asked questions.

For instance, on Aug. 11, the agency clarified that employers' payments toward vision and dental benefits are considered "group health-care benefits" and are deemed payroll costs eligible for forgiveness.

Professionals are also still waiting for Congress to address a burning issue on the mind of many PPP applicants: Will expenses covered by these forgivable loans be deductible on tax returns?

"My advice on all of these clients is that you don't want to be the first to rush into the forgiveness process," said Ann Kummer, CPA and partner at Kirshon & Co. in Poughkeepsie, New York.

"Things will probably continue to change," she said. "Do you really want to be the guinea pig?"

Great system!

Regular reminder that you can follow me on Twitter where I occasionally post photos and talk about my transition, among other things.

Have a good weekend!

  • KanaW

    I’m too horrified at the current shit-show to even comment on that, but I will say you look terrific, Jordan! Love the hair, and the shape of those glasses complements your face beautifully!

    • JMAshby

      Thank you!

  • muselet

    • Less money in consumers’ hands means lower retail sales. It shouldn’t be all that hard to understand, even for economists. Or politicians.

    • Another blast from the past from the Trump administration. “Those unqualified Blacks and Browns took the places of deserving white and Asian people at a university” is a tired, old, racist notion that needs badly to die. I’m not sure it’s an electoral winner in the burbs, either, since suburbanites nowadays come in colors other than pink.

    • The administration couldn’t organize a booze-up in a brewery if everyone brought a glass.

    • RIP, Julian Bream. (Purists wailed that his technique was inauthentic since he used *gasp shock horror* his nails to pluck the strings, he used steel strings instead of gut, his lute had frets, and on and on. Phooey.)

    Have a safe weekend, all.

    –alopecia

  • Kevin Krasnansky

    Retail sales didn’t drop. The rate of increase in retail sales dropped. It dropped significantly, but it didn’t turn negative, which would be retail sales dropping. This is bad news for the economy, but it’s still growth, not contraction.

    • JMAshby

      “dropped sharply in July compared to June.

      I even highlighted that sales still grew. What I wrote is effectively accurate.

      • Kevin Krasnansky

        I’m in agreement with the overall point. That line, though, is not good. I think it’d be an easy correction, but that’s your call. All I can do is point it out.

        You only see me comment a couple times a year (when there’s something I think is off), but I love your content. Thank you for providing it.

  • Aynwrong

    How Democrats haven’t launched a full court press attack against the Trump regime, especially regarding all things economic, is a complete mystery to me.

    The Republican definition of what constitutes discrimination is beyond warped. It’s a complete inversion of reality. They actually believe their own rhetoric of “reverse racism.”

    Everyone please stay safe and have a good, relaxing weekend.

    This feels apt.
    https://youtu.be/e2lmyKE9vjU

    • muselet

      Hadn’t thought of that song in … lessee … 37 years. Good grief, I really am old.

      –alopecia