Economy RSS feed for this section
depetroshow-logo-featured

Politics This Week with John DePetro: In Search of Other Authorities

My weekly call-in on John DePetro’s WNRI 1380 AM/95.1 FM show, for May 27, included talk about:

  • #WeWantOurSummerBack
  • Justice Flanders still protecting rights
  • Trump v. Gina
  • General Assembly… still out
  • Mail ballots
  • Money for insiders
  • No jobs for Rhode Islanders

I’ll be on again Monday, June 1, at 12:00 p.m. on WNRI 1380 AM and I-95.1 FM.

depetroshow-logo-featured

Politics This Week with John DePetro: Pockets of Rebellion

My weekly call-in on John DePetro’s WNRI 1380 AM/95.1 FM show, for May 18, included talk about:

  • Providence College kids rebel
  • The Catholic bishop sends the governor a message
  • Narragansett Town Council considers resistance
  • Justice Flanders signals a challenge
  • Rally-goers take up the call
  • A delay of Phase 2 reopening
  • The teachers’ union flexes in Tiverton

I’ll be on again Monday, May 25, at 12:00 p.m. on WNRI 1380 AM and I-95.1 FM.

summerback-images-featured

We Want Our Summer Back!

For many Rhode Islanders, summer is our defining time of year; it’s the plug that recharges our batteries and motivates us to make it through another year in our challenging state. The governor needs to know what that is worth to you.

emptyhospitalroom-featured

Correction: Survival Rate is Over 98.7%.  Slow-Walk Re-Open is Unnecessary.

In a prior post, I had noted that the survival rate of COVID-19 in the United States is 94%. I was mistaken. In fact, the survival rate is 98.7%. From Health Affairs:

The IFR-S in the US was estimated to be 1.3% …. The overall IFR for COVID-19 should be lower when we account for cases that remain and recover without symptoms.

depetroshow-logo-featured

Politics This Week with John DePetro: The Push-Back Begins

My weekly call-in on John DePetro’s WNRI 1380 AM/95.1 FM show, for May 11, included talk about:

  • The governor’s New Order
  • Cops push back
  • Protesters push back
  • The press pushes back
  • Will businesses push back?
  • Will the General Assembly push back?
  • Elorza gets push-back and stumbles

I’ll be on again Monday, May 18, at 12:00 p.m. on WNRI 1380 AM and I-95.1 FM.

clayjohnson-featured

Clay Johnson: Officials Forgetting Foundational Importance of Hum of Running Economy

I applaud the decision makers, at all levels of government, that quickly responded to the medical crisis. But health issues only represent one component of the challenges in front of us. We all hunkered down for weeks to ‘flatten the curve.’ Our common goal was to ensure that, as a community, we had enough hospital beds for those most vulnerable. Well, we’ve flattened the curve. (And we know now that the survival rate of COVID-19 in the United States is almost 95%.) Why then are governments having a hard time moving to the next stage during this time of testing? I can only believe that most people were more familiar with the fears and responses to the medical side of the crisis.

Let’s explore the impact on small businesses. Almost half of all employees in the United States work for a small business. In fact, 96% of Rhode Island businesses are small businesses. They are the engine of our economy. Business owners can feel in their bones, the impact of this shutdown on Rhode Island. We owe it to the rest of the citizens of Rhode Island to communicate this feeling.

depetroshow-logo-featured

Politics This Week with John DePetro: The Emergence Begins…?

My weekly call-in on John DePetro’s WNRI 1380 AM/95.1 FM show, for May 4, included talk about:

  • The governor and reopening
  • Hospitalization counts
  • The General Assembly peeks its head out
  • Mattiello and the AG
  • Achorn drops from the Providence Journal editorial branch
  • A big budget hole

I’ll be on again Monday, May 11, at 12:00 p.m. on WNRI 1380 AM and I-95.1 FM.

lukefildes-thedoctor-featured

Contrary to the Impression We May Have, Survival Rate of COVID-19 in United States is Over 94%

This is to offer an important data point about COVID-19 that doesn’t get much attention. The United States has, to date, experienced 1,092,815 confirmed and probable cases of COVID-19.  64,283 of those cases, or 5.88%, have resulted in death.  To be clear, 5.88% of people who got the disease have died from it, not 5.88% of the US population as a whole.  (If you want that figure, divide by 328,200,000.)

This is not the picture that you are getting from the mainstream media.  They largely mean well but if you notice, when reporting on this subject, the MSM crafts headlines that invariably include the words “COVID-19″ and “death” and content that is comprised of the number of new cases and new deaths. Most people only pay attention to the news with half an eye or ear. So they understandably may have gotten the impression that the death rate from COVID-19 is sky high.

So let’s repeat this figure because it is important.  Of the 1,092,815 confirmed and probable cases of COVID-19 in the United States, 64,283 deaths have resulted.  That means that over 94% of people who got the disease have survived it.

And 94% is almost certainly on the low side because the figure of 1,092,815 only includes medically defined “confirmed and probable” cases. People can have the disease or get it and recover from it without ever knowing or being tested. As they were not counted, those are not included in that denominator of 1,092,815. Anti-body test surveys unanimously point to COVID-19 being far more infectious and, therefore, far less deadly than originally feared. Accordingly, that case fatality rate of 5.88% will almost certainly drop.

Next for our consideration is the very serious implications of this data point with regard to our government’s choice of course (not to mention that the original goal of the chosen course was accomplished weeks ago). Those will be laid out here a little later this morning.

aquidneckisland-featured

Larry Fitzmorris: Portsmouth Looks to Raise Taxes Over 4% With Unemployment Over 15%

The budget for next year is one of the worst produced in the last twenty years. This budget is characterized by the Council’s complete lack of interest in reducing costs to prepare for the economic downturn and its continuing emphasis on the growth of Town government. In fact, the only changes over a routine year are using the Fund Balance to provide revenue for routine spending and to cover any shortfalls in State funding. Currently the budget is at the Provisional stage and there are further votes, but significant changes after this point are rare.

The budget that begins next July 1 has a residential property tax increase of 4.43% at a time when the unemployment rates for Portsmouth taxpayers are probably at least 16%.