As the U.S. passes the half-million mark on Covid-19 deaths, it may seem unsurprising that life expectancy, in the first half of 2020, dropped by an entire year.
But shrinking American longevity is startling for reasons that extend beyond the pandemic trib.al/yWlUW6X
Life expectancy estimates based on mortality patterns from January - June 2020 show a decline in life expectancy at birth, compared to 2019:
These declines stand to grow larger when the full-year data become available, because deaths from Covid-19 nearly doubled in the second half of 2020:
📆125,000 deaths from Jan. to June
📆Almost 250,000 from July to Dec trib.al/yWlUW6X
Overall, this has been the biggest drop since 1943. And for Black Americans, the decline is the largest since 1936.
The 2020 life expectancy numbers also underscore longer-term health challenges that were already alarming trib.al/yWlUW6X
For decades, life expectancy has been improving rapidly for higher earners compared to lower, and 2020 has probably made the gap worse.
The one pre-pandemic bright spot was a narrowing of racial differences. New estimates show a dramatic reversal of that trib.al/yWlUW6X
This lowering of life expectancy deviates from the pattern of former recessions. In other downturns, deaths rates have fallen as unemployment rates have gone up.
The 2008 financial crisis and the Great Depression both surprisingly boosted life expectancy trib.al/yWlUW6X
In stark comparison, 2020 mortality data indicate that death rates from non-Covid causes rose, despite the economic recession. Deaths exceeded projections in three major categories:
Some of these deaths may have been misreported, and actually caused by Covid. But a large number may also reflect the challenges in non-Covid health-care.
The pandemic will provide hard lessons on which types of care truly improve health trib.al/yWlUW6X
The only good news in this otherwise heartbreaking landscape is that, in 2021, the Covid-19 death rate has been declining sharply, and is about a third lower than at the beginning of the year trib.al/yWlUW6X
Ideally, we will continue to drive the mortality rate lower via a combination of:
🚫Precaution
💉Vaccination
👩🏽⚕️Care
And other deaths should fall as health-care services return. After a very deadly 2020, a dramatic reversal would be a relief in 2021 trib.al/yWlUW6X
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Research suggests that those unlucky enough to start careers in a recession see:
🎓Lower earnings for 10 to 15 years after graduation
💔Higher divorce rates
⚰️Shorter lifespans bloom.bg/3dSuNfC
In the U.S., a 3.9 percentage point increase in the unemployment rate at job market entry has been found to decrease life expectancy by about 6 to 9 months.
For the Class of 2020, that could translate into a shortened life span of 1 to 1.5 years bloom.bg/3dSuNfC
When the country began closing down last March, it was clear that food supply chains would be severely tested.
But nobody predicted that we’d run out of Grape-Nuts trib.al/eMfXm5K
Grape-Nuts ran out in early December, and won’t be back at full capacity until mid-March. Other cereals have also been hit by capacity and supply constraints:
The past year has been weird for the breakfast-cereal industry. Not bad -- sales were up.
But for companies that were used to decline, or at least stagnation, the sudden increase in demand was a shock. So, do Americans really love cereal again? trib.al/eMfXm5K
In October 1999, 5 months before the internet bubble burst, @opinion_joe wrote a cover story for Fortune magazine titled “Trader Nation.”
It was about how Americans were embracing the stock market, with some even quitting their jobs to become day traders trib.al/t0aIgaQ
Two decades later, Nocera is interviewing the same individuals again to find out how living through a stock bubble can affect investors for the rest of their lives trib.al/t0aIgaQ
The original Fortune article was set in Providence, R.I., where residents were getting caught up in the stock market.
Even the mayor, Vincent “Buddy” Cianci, was addicted to the market during the dot-com bubble trib.al/t0aIgaQ
Surprise! As much as Trump promoted fossil fuels, more coal was retired under his watch than during Obama's last four years.
The lesson: When it comes to clean energy, never underestimate the power of state and local leadership — and market forces trib.al/dzkD45b
Fun fact: The U.S. is actually within striking distance of reaching the goal it set under the Paris climate agreement, a 26% to 28% reduction in emission levels by 2025.
In fact, local and state leadership alone could take us to 37% by 2030 trib.al/dzkD45b
At a time when most major companies are working on plans to cut their carbon emissions, one of the darlings of green investing is working to increase its emissions footprint bloom.bg/3umtBXJ
Not only are Tesla's total emissions set to grow — an inevitable consequence of growth in our carbonized world — but the amount of pollution each of its cars generates will, too, thanks to:
🇨🇳An explosive expansion in China
🇮🇳A planned car plant in India bloom.bg/3umtBXJ
Carmakers’ emissions include the pollution their vehicles emit while they’re being driven.
Thanks to all the gasoline and diesel that gets burned over the lifetime of the cars they sell, Volkswagen is responsible for more emissions than oil producer Total bloom.bg/3umtBXJ
The Covid-19 housing boom is even bigger than we Imagined.
The latest data on household finances shows the extent to which record-low mortgage rates and surging home prices turbocharged the economic recovery trib.al/5FJjtRb
Each quarter, the Federal Reserve Bank of New York releases a report on household debt and credit. Its strategists decided to dig deeper into:
🏡Mortgage originations
🏡The types of buyers during Covid
🏡Those who take out cash against their home equity trib.al/5FJjtRb
While much of what they found confirms many of the narratives about the housing market, it’s the sheer magnitude of the move that’s breathtaking.
It puts into context where the economy stands almost one year after the coronavirus crisis began in the U.S. trib.al/5FJjtRb