6/30/20 Power Five

1. In 2008, Everyone Thought The Recession Was Bad. But in 2020, Many Americans’ Views Depend on Their Party – Don’t be surprised on Thursday when the latest jobs report shows a large number of job “gains”. As we showed last month, these are mainly people returning to their jobs, not a result of new job creation. Despite an unemployment rate not seen for 100 years, the political divide continues to blur the lines between perception and reality.

2. The True Cost of Dollar Stores“The number of incidents can be explained in part by the stores’ ubiquity: there are now more than sixteen thousand Dollar Generals and nearly eight thousand Family Dollars in the United States, a fifty-per-cent increase in the past decade. (By comparison, Walmart has about forty-seven hundred stores in the U.S.) The stores are often in high-crime neighborhoods, where there simply aren’t many other businesses for criminals to target. Routine gun violence has fallen sharply in prosperous cities around the country, but it has remained stubbornly high in many of the cities and towns where these stores predominate. The glowing signs of the discount chains have become indicators of neglect, markers of a geography of the places that the country has written off.”

3. From Enron to Wirecard, the Big Four Accounting Firms Haven’t Fixed Their Problems – The juggernauts of the accounting world are under fire in Europe after £2 billion went missing from Wirecard’s balance sheet, resulting in the CEOs arrest. As regulators try to find someone to blame, Ernst & Young becomes the easiest target. Taking a page out of the EU’s increased regulation on Google and the other FAANGs, expect a similar crackdown on the Big 4.

4. Here’s Why Many Utah Dems Registered as Republicans to Vote in Tuesday’s Primary – Webster’s defines an optimist as a Democrat in Utah. See also Glutton for Punishment.

5. Carl Reiner, Master of Comedy – A shoe-in for comedy’s Mount Rushmore, a true gentleman, and quite possibly the only active 98 year old Twitter user. May he rest in Peace. Where to watch his best work.