Consumer borrowing reaches record highs - July 9, 2021

Pfizer and BioNTech plan to ask U.S. and European regulators to authorize a booster shot for their coronavirus vaccine, citing evidence of a higher risk of infection six months after inoculation. COVID-19 cases in the U.S. are up by 11% over the last week, almost entirely among people who have not been vaccinated. Preliminary data from the Centers for Disease Control and Prevention suggest that 99.5% of coronavirus deaths in recent months were unvaccinated people. Los Angeles County sees exponential growth in Covid-19 cases as Delta variant becomes dominant, worrying officials - CNN @USATODAY: "If you're vaccinated there is a light at the end of a tunnel. If you're unvaccinated that's probably a train," tweeted Erik Frederick, a hospital administrator in Springfield, Missouri. The city reported that hospitalizations tripled in the last month. The U.S. Chamber of Commerce warned that the labor shortage is likely the greatest threat to the U.S. economy this summer, citing a new report that estimates about 1.2 available workers per job opening. More than nine million Americans said in May that they wanted jobs that they couldn’t find, indicating a massive and complicated mismatch as people leave cities and industries where workers are most needed. “People Get Upset”: A Mass Labor Shortage Is Leaving Hamptonites to Fend for Themselves - Vanity Fair What Does A Worker Want? What The Labor Shortage Really Tells Us - Forbes Consumer borrowing has made a strong resurgence this spring, with demand for auto loans, credit cards and personal loans up 39% in April over the same period last year. Lenders extended a record number of auto loans and leases in March as consumer appetites grew for vacations and dining out. Wells Fargo is shutting down all personal line of credit accounts - CNBC @federalreserve: May consumer credit up 10%; revolving credit up 11.4%; nonrevolving credit up 9.5% (SAAR): The world’s top economic leaders will convene on Friday for G20 negotiations, kicking off a three-month process that includ