CUTTING BACK….DOOM AND GLOOM

JORADAN LEWIS RING, ESQUIRE, AN AMERICAN LAWYER

Americans are again cutting back on flights and going out to eat less often.

Public-transit use is still low while jobless numbers remain four times as high as pre-pandemic levels. With no effective vaccine likely to appear before 2021, Wall Street is resigning itself to a grim fall. Goldman Sachs halved its forecast for growth and pay cuts introduced by employers in the spring are looking permanent. The virus is also taking a toll on U.S. college enrollment.

More darkly, France and the U.K. reported the highest number of infections since the crisis started. On Wednesday alone, there were 262,000 new confirmed cases of Covid-19 worldwide and more than 5,500 death

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