The ADP payroll report shows a drop of 27,000 jobs, better than the forecast drop of 125,000; but many fear the worst is yet to come as millions of people file unemployment claims as a result of the coronavirus shut-down.

A big unknown question surrounds the number of employees that businesses will attempt to keep on the payroll through use of the coronavirus relief funds passed by congress.

The ADP period in the latest report ran through March 12th.  Within that data Goods-producers lost 9K jobs while Services were down twice that much. Small businesses (fewer than 50 employees) were the hardest hit, shedding 90K positions last month; while Large businesses (greater than 500 employees) actually gained 56K jobs; and Medium-sized businesses grew 7K through the March 12th period.

The big question surrounds how quickly small businesses can access the federal relief funds; and whether those businesses will use the incentives to retain their workers.

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Yesterday during the white house briefing on the status of the coronavirus, CNN asked President Trump why he wasn’t being more dramatic and emphasizing the potential downsides to the COVID-19 impact on the nation.  President Trump responded:

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[Hat Tip Carpe Donktum for the video recap]

One of the many things that makes President Trump valuable during this crisis is his non-political authenticity. We can see and feel President Trump’s desire to get through this challenge, hold our people together, and exit even stronger than before.

No decisions are easy and the pressure is enormous; yet inherently most Americans know what President Trump is trying to do is deliver the best possible outcome for our nation.

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U.S. Treasury Secretary Steven Mnuchin has announced that small businesses (0 to 500 employees) and sole proprietorships can start applying for the coronavirus relief funds on April 3rd.  One week later, April 10th,  self-employed individuals, 1099 contractors and s-corps can apply.  [Visit SBA.gov/coronavirus]

[pdf link available here]

WASHINGTON – Following President Trump’s signing of the historic Coronavirus Aid, Relief, and Economic Security (CARES) Act, SBA Administrator Jovita Carranza and Treasury Secretary Steven T. Mnuchin today announced that the SBA and Treasury Department have initiated a robust mobilization effort of banks and other lending institutions to provide small businesses with the capital they need.

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MyPillow founder Mike Lindell has shifted the majority of his U.S. manufacturing plants to generate 50,000 healthcare masks per day.   During his announcement at the White House Mr. Lindell shared a hope that Americans will revisit their faith and embrace God and hope during their time at home. The media went absolutely bananas.

Today Mr. Lindell explains why he told people to pray during their time in isolation amid the coronavirus pandemic.  Mike Lindell is buckets of awesome.

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After the DOJ Offfice of Inspector General (OIG), Michael Horowitz, presented his December 2019 findings of the FISA application used against U.S person Carter Page, the gross deficiencies and intentional fraud were so extensive the IG said he was going to review a sample of FISA applications to identify if the fraud and abuse was widespread.

The OIG began reviewing FISA applications from eight field offices (the proverbial “rank and file”).  The OIG selected 29 FISA applications from those field offices over the period of October 2014 to September 2019.  Additionally, every field office and the DOJ-NSD generate internal “Accuracy Reviews”, or self-checks on FISA applications; so the OIG inspected 42 of the accuracy review FISA files to determine if they were compliant.

The results were so bad the IG produced an interim memorandum to the DOJ and FBI [pdf link here].  Within the 17-page-memo the IG notifies Attorney General Bill Barr and FBI Director Chris Wray that all of the claimed FISA processes, in every field office, are grossly deficient, and in most cases there is zero compliance with FISA standards.  The IG memorandum is presented before the IG even looks at the specifics of the non-compliance.

Below is the report/memorandum.  Additionally I am summarizing the stunning top-lines identified by the IG memo:

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Thankfully as a nation this crisis is causing us to reevaluate our priorities: faith, family, community and freedom; and seeing the easy dispatch of liberty also reignites that oft forgotten flickering flame…

Journalists are less important than janitors. Our nation’s best athletes are healthcare workers rushing to assist those in need.  The true heroes are not celebrities, but rather farmers, truck drivers, stock clerks, and supermarket cashiers.

The most valuable businesses do not glitter or present themselves with self-congratulatory award shows; they do today what they have always done to keep our food supply flowing.  Perhaps now, at least for a few short weeks, we stop taking them for granted.

Effective right now comfortably invisible workers are recognized as critical priorities; or as the government has officially designated them “essential services.”  These folks form the network of our lives; they always have, but we didn’t notice. Everything else is less than.

Any average hard-working American is worth more today than all those who chase the golden statues of Hollywood; and ultimately if they want to go down the superiority path… well, what they provide is essentially useless.

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New York Mayor Bill deBlasio is officially attempting to establish himself as the United States first totalitarian dictator by announcing a revocation of all New York City citizen rights under the first amendment.   A stunning move.

“[Government] shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, and to petition the Government for a redress of grievances.”

In a stunning announcement Mayor deBlasio threatens that all religious services will be forcibly closed by city authorities “permanently” if they do not comply with the established dictates of city government. WATCH:

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Let us be clear, the government can request, suggest and recommend that faith-based assemblies suspend their services; and in many cases those churches and religious groups may indeed choose to suspend their services. However, under no circumstance, including: war, famine or virus pandemics that could leave only a hand-full of people alive, can the government force the suspension; or punish those who refuse to comply.

Religious worship, including the assembly therein, is enshrined within the first amendment as it carries the first and ultimate essential service. There is absolutely no situation where that right can be removed.

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Treasury Secretary Steven Mnuchin appears on Fox News to discuss the latest developments in the battle against COVID-19 and how the coronavirus economic relief package will roll out. Unfortunately the always insufferable Wallace wants to waste time discussing the politics of the administration effort and not communicate important details to American businesses/individuals about what financial relief efforts are available.

Smartly Secretary Mnuchin outlines the process. The Treasury Department has stood up a system inside the Small Business Administration that cuts through much of the bureaucracy. By using FDIC lenders (local banks) as the point of contact for small businesses and S-corps Treasury can backstop the process. [SEE BELOW]

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The local business (or S-corp) takes their payroll and yearly expense documents to their local bank where they already have a relationship. As long as the bank is in the FDIC network; and because the emergency funds are distributed based on a good faith relationship; the bank gives the business or individual immediate access to funds; the bank deposits in the business account. The FDIC guarantees the lender against any risk.

If the business does not continue payroll for the employees, the funds are considered a loan that must be repaid. However, if the business retains their employees (continues to keep current payroll); or -if needed- rehires any recent lay-offs using the funds provided; then the emergency loan becomes a grant the business will not have to repay. The system should be in place by this Friday.

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It seems odd to issue a “travel advisory” against travel to the New York area considering that everyone is supposed to be following ‘stay-at-home’ and social distance guidelines.

President Trump tweets the following message:

The CDC sends additional guidelines via a Domestic Travel Advisory:

Due to extensive community transmission of COVID -19 in the area, CDC urges residents of New York, New Jersey, and Connecticut to refrain from non-essential domestic travel for 14 days effective immediately.

This Domestic Travel Advisory does not apply to employees of critical infrastructure industries, including but not limited to trucking, public health professionals, financial services, and food supply. These employees of critical infrastructure, as defined by the Department of Homeland Security, have a special responsibility to maintain normal work schedules.

The Governors of New York, New Jersey, and Connecticut will have full discretion to implement this Domestic Travel Advisory. (link)

A month ago CTH pointed out the short-sighted approach when federal, state and local government dictates began enforcing restaurant closings.  By shutting down 50% of the total food supply output, the retail food supply chain was simply overwhelmed.

Since then some state governors recognized the issue their decisions made within the total U.S. food supply network; and subsequently modified their state rules permitting restaurants to sell their bulk food ingredients to retail consumers.  This was a smart move by some state and local officials.  Here’s one example of how it is working:

Miami – […] Unlike many restaurants, which are trying to stay afloat delivering and offering take out after governments ordered dining rooms closed to stem the spread of the coronavirus, Threefold Cafe is busier than ever.

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