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As Banks Provision For Storm, Shoppers Storm Stores For Provisions
"Particular categories you’d expect were impacted: travel was down roughly 75% while dining and entertainment were down 60%", Citi CFO Mark Mason said Wednesday, on the conference call following the bank's Q1 earnings. "We’ve continued to see that pressure play through April. We also saw pressure in our commercial cards".
During the last week of March, Mason said the bank witnessed card spending plummet 30% in the wake of lockdown protocols, business closures and various other containment m
The food factories producing everything from milk and cheese, bread and pasta, to meat and canned fruit and vegetables are a deer in the headlights and need immediate help. If they close the farmers go bust. That would be really bad for us all. The Feds have dropped the ball on this. They should be right up there with the medical corps in importance with keeping us alive. They should be getting testing and whatever PPE is required to keep the food going onto the trucks. The National Guard may be making bacon and canning peas. Hey Pense, how did you guys miss this one?
Wisconsin farmers dumping milk on fields as fertilizer should scare us shitless… that’s an insane waste of food. Can you imagine the economic impact of actual famine in the United States? Even shortages of staples like milk, cheese, ice cream and pork would have crazy repercussions.