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Following economic shutdowns to slow the spread of the coronavirus, and with the US still dealing with the spread forthe pandemic, experts from the UCLA foresee a US economic depression into 2023.The researchers say that unemployment levels of 10% could persist into the fall, and 6% unemployment could remain through the end of 2022.US unemployment was below 4% earlier this year."To call this crisis a recession is a misnomer. We are forecasting a 42% annual rate of decline in real GDP for the current quarter, followed by a 'Nike swoosh' recovery that won't return the level of output to the prior fourth quarter of 2019 peak until early 2023," writes UCLA Anderson Forecast senior economist David Shulman in an essay titled "The Post-COVID Economy."The researchers note that the economy has already hit rock bottom. But GDP and employment levels won’t see a quick recovery.But Shulman said that the entire economic meltdown cannot be blamed on the coronavirus. Shulman and UCLA researchers say the pandemic has accelerated economic trends that were already moving toward increased digitization of business functions and online commerce. 1149

Former Michigan Governor Jennifer Granholm has been picked by President-elect Joe Biden to run the Energy Department, the Associated Press confirmed and was first reported by Politico.The department plays a key role in helping develop the technologies needed to fulfill Biden's pledge to move the country off fossil fuels.Granholm served two terms as Michigan's Governor and is experienced in dealing with the auto industry, which could be an advantage as the president-elect seeks to speed up the roll out of electric vehicles and the network of charging stations used to power them.If confirmed, Granholm would be the second woman to lead the department since its creation in 1977."She really worked very hard in 2016 to place herself as Energy secretary with the Clinton team," said Skip Pruss, the director of the Michigan Department of Energy, Labor, and Economic Growth under Granholm. "She’s really a student of the [energy] transition. If you were to ask me what was a limitation in Michigan, I would say that she was slightly ahead of her time."This article was written by Kellen Voss for WXMI. 1111

First toilet paper, then coins, and now aluminum cans and the beverages that come inside could disappear from store shelves.Some in the beer industry say they are being impacted by a shortage of aluminum cans. Molson Coors, Brooklyn Brewery and others are reportedly cutting back on the different types of beer they produce, focusing on their most popular drinks, because of the shortage according to CNN.??"Everyone who makes anything that goes into a 12-ounce can is being challenged to some respect," Adam Collins, Molson Coors' spokesperson, told CNN Business.As with the national shortage of coins, the lack of aluminum cans is because of American’s changing habits during the pandemic. More beer, spritzers, seltzers and other drinks in aluminum cans are being sold in stores for home consumption, instead of kegs and larger containers destined for bars and restaurants."The can industry is working 24/7 on meeting the unprecedented demand," Robert Budway, president of the Can Manufacturers Institute, the industry's trade association, told USA Today.Another factor, according to CNN, is the sharp rise in popularity of White Claw and other hard seltzers. The trend has added more aluminum cans to store shelves. 1227

Former President Barack Obama is expected to report for jury duty in Chicago on Wednesday morning.The former President is expected to appear at Chicago's Daley Center alongside a Secret Service detail, CNN affiliate WLS reports.Several black vans and SUVs were spotted outside his home in the Kenwood neighborhood early Wednesday morning.See the SUV's waiting for the Former President in this video: 407

Former Republican vice presidential nominee Sarah Palin admitted Friday that it hurt "a bit" to hear Sen. John McCain say he wished he picked Connecticut Sen. Joe Lieberman as his running mate in 2008."I don't lie, so I'll tell you -- a bit. You know, I think I described it earlier as a gut punch," Palin told NBC News in an interview Friday. "But again, I'm going to choose to look back on the good times that we did have together."In his forthcoming memoir, "The Restless Wave," and in a separate documentary, the Arizona Republican said he regrets not choosing Lieberman, a Democrat-turned-independent senator, calling it "another mistake that I made," The New York Times reported. Palin, the former Alaska GOP governor, was ultimately on the 2008 ticket with McCain.Palin's supporters have jumped on McCain's remarks and implied they mean he regrets choosing Palin as his running mate.Palin told NBC News that she hopes McCain, who is battling brain cancer, finds some "positive aspect in decisions that he's made in the past -- even about that campaign.""It is kind of sad to hear that he and or someone speaking for him does have regrets," Palin said. "And I hope that he finds that kind of peace and contentment also to be able to look back on decisions and realize, really, things work out the way that they're supposed to work out."She called McCain a "friend" and said she will "never disparage someone who has served our country and made a lot of sacrifices as a vet.""I always had a lot of respect for his maverick nature," Palin said. "He going rogue -- wish he would have been kind of going rogue more on the common-sense conservative side of some issues. No, I certainly have respect for many of the things that he's accomplished."Palin told The Daily Mail in an interview published Thursday that hearing McCain's admission that he regrets not choosing Lieberman is "like a perpetual gut-punch," but she attributes "a lot of what we're hearing and reading regarding McCain's statements to his ghostwriter or ghostwriters."The-CNN-Wire 2058

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