Rick Adelman, Midwest, Iowa discussed on CBS Sunday Morning with Jane Pauley
$1.1 billion on TV advertising for sports last year for those college games. And they're not going to spend anywhere near that this year. Major revenue problems for those major TV networks and the Midwest as you know, this week suffered from a massive, fast moving windstorm in Iowa. They lost 14 million acres of corn and soybeans. The fields were destroyed, more than a third of the state's farmland was damaged. Something else that we talked about. In my special report on Cove it and your money that we published in June. It's not just in the us where this is happening. England is in a recession. Their GDP fell 20% in the second quarter, the biggest quarterly drop in that nation's history. The virus is now the third leading cause of death globally. And we are still in the thick of it. A new study just released by the physics of Fluid journal. Yeah, there is a journal that studies the physics of fluids. They just released a study saying that urinals can launch plumes of cove in 19, and they say, wearing a mask in public restrooms should be mandatory until it is Please wear a mask. Whenever you're in public. Meanwhile, we're still waiting anxiously for the development of a vaccine. What's going on there? While I'm sad to report that researchers who are involved in a dozen clinical trials Say staffing shortages, space constraints and reluctant patients are delaying efforts to produce a vaccine. Regeneron said it was going tohave emergency stash of its vaccine by Labor Day. They now say they might have initial data by October, and Eli Lilly, which said in June that its treatment might be ready by September. They now say they're hoping For the end of the year, So we're going to be with this pandemic for longer than many people had hoped. So there's a lot of stuff that's in on a lot of stuff. That's out as a result of new lifestyles due to the cove it crisis. What's in Among other things, outside tables at restaurants. So much so that restaurants or getting permission from cities to place tables in the street where cars normally drive city's air, turning their streets over two pedestrians because there's so much less Traffic. Let's get people outdoors, socially distance. So let's let restaurants bring the tables from inside to outside, at least during the good weather, so people are now dining tables, literally eating in the street. This doesn't mean there's no traffic. However, if there were four lanes they've cut down to two so that people can eat in one lane, while cars drive in another. Guess what happens when you have cars driving next took diners. Well, According to the storefront Safety council, the number of crashes is skyrocketing cars that are plowing into diners seated for meals. There have been 20 cases so far this year. Over the past eight years, there've only been four per year We've had 20 since March. So maybe this outside dining Isn't such a hot idea. Meanwhile, what's out, among other things going to the dentist since March, 20% of Americans who say they have dental issues have not gone to the dentist out of a fear of infection. You know what else is out? Workplace romances in 1995 20% of couples met their partner at work by 2017. It was down to 11%. This year. The number is virtually zero because it's kind of hard to flirt. Via zoom. You know what else is out? Long term, They say blowing out the candles on your birthday cake. How disgusting. So we're not gonna be doing that anymore. How about sharing a drag? You know you're not going to be too quick to put your friend's cigarette in your mouth. Or how about you're letting your kid jump into a ball pit talk about a disease, festive environment, or how about getting a quick makeover? Women love to leave work. Go to that makeup counter in the department store and have a quick makeover. Really? You're gonna let them put on you the stuff that they just put on Who knows who before you got there? I think getting those quick makeovers is either going to be radically altered or eliminated completely. You know what else is probably on the way out going to an escape room where you have to touch all kinds of stuff in a desperate effort to get out of that room that used to be fun. Nowadays, it's I think not. Goingto allowed crowded bar huge environment for infections. That's out. So's putting two straws into a giant glass sharing is not going to be a cz much fun as it used to be. Hosting a poker game is probably something of the past. You really want to be touching the cards that everyone else at the table touched and the chips as well while sitting closely together and I don't think so. Shopping aimlessly. Not anymore. You're going to go into the store, grab what you need and leave the notion of wandering around in a poorly ventilated space for hours for the heck of it. I think that's a thing of the past, Along with shaking, hands, hugging friends and kissing on the cheek. All of that is probably gone. And ifyou're lamenting any of that, I get it. But there is one of the thing that is gone. That frankly, I'm thrilled is gone. Karaoke is gone. Yes, Sharing that microphone and a bar is something that people are not going to want to do anymore, and frankly, I won't miss it. A bit. I have a lot more to share with you on the program, including when we return. What's going on with the stock market with the S and P. 500, the NASDAQ reaching all time highs. What's the strategy for you today? And if you want to read my 62 page special report on covert 19 and its impact on your personal finances, go to Ric Edelman dot com. You can download the report for free. It's rice, Delmon dot com By investment news as the nation's largest independent registered investment advice refer. This is the Rick Adelman show. Hi. I'm Rick Adelman with a warning. Millions of people are buying stocks they think or low in price. Watch out. A lot of investors have no idea the risks they're taking..