The Daily Valet. - 3/27/20, Friday
✔️ A Dangerous Rise and a Weekend Assignment
Friday, March 27th Edition
For better or worse, I’m giving in and watching “Tiger King” this weekend.
Cory Ohlendorf , Editor ⋯ @coryohlendorf
Today’s Big Story
A Record Rise in Unemployment
More than 3 million Americans filed for jobless benefits this week
Over the past couple of days, nearly 3.5 million people lost their jobs, sending a collective shudder throughout the economy that is unlike anything Americans have experienced. It was a jolting end to the nation’s historic, decade-long run of job growth, reports the Wall Street Journal.
To put the numbers in perspective, the New York Times found that just a few weeks ago, barely 200,000 people applied for unemployment—a historically low number. In the half-century that the government has tracked applications, the worst week ever, in 1982, counted 695,000 claims.
Economists say the jobless numbers reported Thursday is just the start to a massive spike in unemployment that could result in over 40 million Americans losing their jobs by mid-April.
Until this week, American employers added jobs for a record 113 straight months. The unemployment rate, which was 3.5% in February, had been at levels not seen since the 1960s.
Now, some forecasters think the unemployment rate could hit 10% this summer, which would equal the highest level from the last recession more than a decade ago. Back then, it took nearly two years for the jobless rate to reach that height. But things move faster in 2020, even the economic free falls. So we can only hope that once life returns to some form of normal, the recovery will pick up just as quick also.
↦ Who's Hiring? Because of the outbreak, 7-Eleven and the National Guard have more job openings than any other employer.
The U.S. Now Leads the World in Cases
Just in New York alone, the number of hospitalized COVID-19 patients jumped by 40% in a day
The number of American coronavirus infections climbed above 82,000 on Thursday, surpassing the national tallies of China and Italy, as New York, New Orleans and other hot spots faced a surge in hospitalizations and looming shortages of supplies, staff and sick beds, reports Reuters.
With 330 million residents, the U.S. is the world’s third most populous nation, meaning there's a large pool of people who can potentially get sick. And as states set their own policies (and the president continues to send mixed messages), there isn't a coherent, unified response to such a grave public health threat.
According to the Associated Press, New York (where the number of hospitalized patients jumped by 40% in a day) is currently scrambling to find enough breathing machines to treat its rapidly expanding group of critical patients. Meanwhile, the White House called off a plan to have General Motors make over 80,000 desperately-needed ventilators after the cost to retool the auto factory was deemed too high.
In a White House briefing, Deborah L. Birx, the administration’s coronavirus response coordinator, said that the fear of ventilator and hospital bed shortages was unnecessary, but did warn of new hot spots developing in and around Chicago, Detroit and New Orleans.
↦ FYI: The COVID-19 pandemic is generating tons of medical waste, meaning sanitation workers need personal protective equipment too.
We’re Running Out of Places to Store Oil
Saudi Arabia is due to ramp up output while demand slows due to pandemic shutdowns
A rising tide of crude oil—courtesy of a plunge in demand due to a global pandemic and a price war between oil pumping Russia and Saudi Arabia—is filling up storage tanks around the world so fast that in as little as three months, there won't be anywhere else to put it, reports MarketWatch.
The oil industry is expected to keep filling oil storage with crude in the weeks and months ahead as COVID-19's economic contagion spreads through the rest of the world (which continues to decrease demand).
According to The Guardian, oil producers may increasingly look to offshore tankers to store their extra oil, but for this to be economic it would require barrel prices to fall further.
The global oil price fell to lows of $25 a barrel last week, down from more than $65 at the start of the year. Experts warned that prices could still go lower, with $10 a barrel likely by fall.
Females Really Do Live Longer. Period.
A new study of 101 mammal species confirms it
In every human population, women live longer than men—so much so that 90% of people who live to be over 100 years old are female.
And such longevity may not be limited to human females; according to a sweeping new study in the Proceedings of the National Academy of Sciences, a range of female mammals live longer than their male counterparts, too. According to Smithsonian magazine, the team’s analysis covered 134 populations and 101 species, from lions and orcas to reindeer and squirrels.
Why? Scientists have long sought to answer this question as it pertains to humans, and it often leads them to behavioral differences. Men, for instance, "are more likely to smoke, drink excessively and be overweight," Perminder Sachdev, a professor of neuropsychiatry at the University of New South Wales in Australia who has studied human longevity, told Time. Men are also less likely to seek medical help and to adhere to medical treatments.
But when it comes to all species, it might be more biological. Testosterone, for instance, increases levels of the low-density cholesterol lipoprotein in men, putting them at greater risk of hypertension, stroke and heart disease.
↦ FYI: Currently, the oldest known living person is Kane Tanaka of Japan, who is 117 years old.
In Other News
Other Things We’re Talking About Today
+
I’m Giving You a Weekend Assignment
It’s time to shake up your routine
We're heading into the weekend and amid all the voluntary social distancing, it's important that you take some time over the next couple of days to break up your routine.
If you don't, you might end up hanging around the house and just binging on Netflix and snacking. Then, as Monday rolls around, it'll feel like you didn't really have a weekend. Get outside, if you can. After all this time indoors staring at the same four walls, it'll feel good to take in some fresh air and sunshine.
I'm planning a long, early morning solitary bike ride. With the roads all but cleared, it'll be easy (and safe) to keep my distance and the exercise will certainly do me some good. It's a welcome relief from the day to day and I know the time outdoors will be appreciated. I simply plan on following Arnold Schwarzenegger's advice—no stopping along the way, no socializing.
↦ Unplug: Here's why you should be doing puzzles while you're spending time indoors these days.
What We’re Buying
Your daily driver is the reliable, sturdy car that's made to last the long haul. That's exactly what this crew neck sweatshirt from Madewell is. Cut from a soft, tri-blend material with all the heritage details, this will last years if you treat it right. The raglan sleeves give it enough room to move, but it's not too baggy. And with the code HAPPYPLACE, it's marked down an extra 30% (along with other classics like garment-dyed tees and selvedge jeans). Then just wear it over and over again.
↦ Get It $98 / $62.65 at Madewell
Today’s Deals
Expires 3/29
Expires 3/30
Ongoing Sale
↦ Want More? See all 72 sales
Morning Motto
You made it to the end of the week. Treat yourself.
↦ Follow: @dreamsnlives
That’s all for today...
...but we could use your help.
The more people who know about The Daily Valet., the stronger it can become. So grab your unique referral code below and start sharing with your friends, family and coworkers to earn some exclusive discounts to our favorite brands and cool stuff you'll actually want (not just throw-away “swag”).
Your Unique Referral Code:
↦ Want to Learn More? Check out your personal Valet. Ambassor page for program details and get a closer look at the available rewards (and how many referrals are needed to score them).
Valet Media LLC1111 Lincoln Road, 5th FloorMiami Beach, FL 33139[email protected]