2021 Store Closures Expected To Hit 10,000! Job Losses 4 Times Worse Than 2008 Crisis!
Alternative Data Show Growth Stumble on Fresh Virus Fear: Chart – Bloomberg
Pandemic aftershocks overwhelm global supply lines
One year after the coronavirus pandemic first disrupted global supply chains by closing Chinese factories, fresh shipping headaches are delaying U.S. farm exports, crimping domestic manufacturing and threatening higher prices for American consumers. The cost of shipping a container of goods has risen by 80 percent since early November and has nearly tripled over the past year, according to the Freightos Baltic Index.
Godiva is closing or selling all of its stores in the United States – CNN
Luxury chocolatier Godiva is getting out of the brick and mortar business.
Job losses from virus 4 times as bad as ’09 financial crisis
GENEVA (AP) – Four times as many jobs were lost last year due to the coronavirus pandemic as during the worst part of the global financial crisis in 2009, a U.N. report said Monday. The International Labor Organization estimated that the restrictions on businesses and public life destroyed 8.8% of all work hours around the world last year.
International cooperation – World stands to witness greatest rise in inequality since record-keeping began | The Economic Times
A temporary tax on excess profits made by the 32 global corporations that have profited the most during the pandemic could have raised $104 billion in 2020, Oxfam said. International cooperation would be key to implementing many changes, said Jayati Ghosh, an economics professor at the University of Massachusetts Amherst who was among the economists polled by Oxfam for the report.
U.S. Suffers Sharpest Rise in Poverty Rate in More Than 50 Years
Bloomberg 5 days ago Alex Tanzi and Catarina Saraiva (Bloomberg) — The end of 2020 brought the sharpest rise in the U.S. poverty rate since the 1960s, according to a study released Monday.
Billionaires thriving as poor suffer under COVID-19: Oxfam
(Adds quote) By Sonia Elks LONDON, Jan 25 (Thomson Reuters Foundation) – Billionaires including Amazon’s Jeff Bezos and Tesla founder Elon Musk have seen their wealth soar during the COVID-19 pandemic while the world’s poor face years of hardship, charity Oxfam said on Monday as it demanded steps to tackle inequality.
The Office Market in San Francisco Is Even Worse Than New York’s – Bloomberg
Man used $2M in COVID relief for a Bentley, Tesla, Las Vegas condos: feds
A Las Vegas man allegedly stole about $2 million in federal COVID-19 relief funds meant for small businesses – all so he could buy luxury cars and homes, prosecutors said. Jorge Abramovs has been charged with bank fraud after allegedly applying for Paycheck Protection Program funds between April and June 2020, the Las Vegas Review-Journal reported.
We are witnessing more economic challenges right now in 2021. There is more debt in the system as we have seen a jobs, manufacturing, retail, other industries. More cash, debt, taking advantage of very low interest rates. More money, stimulus needed to keep the boom going.
— APPENDICES —
CNBC’s Jim Cramer on Friday complimented the retail traders who helped spark the massive run-up in GameStop shares, but advised they take their profits now. “Take the home run. Don’t go for the grand slam. Take the home run. You’ve already won. You’ve won the game.
— The Money GPS: Jim Cramer says don’t go for grand slam. What do you think? (Instagram Jan 29, 2021)
Opening new positions in the securities listed in the table below is currently allowed, but limited. For more context about the decision to limit these securities, read our blog post. Yes. The table below shows the maximum number of shares and options contracts to which you can increase your positions.
The war between hedge funds and retail investors over shares of GameStop has one logical conclusion, according to executives and traders of a major Wall Street firm. Shares of GameStop, the video game retailer, have climbed more than 900% since the start of the year after members of the Reddit community WallStreetBets banded together in an effort to push the stock higher.
At Yahoo Finance, you get free stock quotes, up-to-date news, portfolio management resources, international market data, social interaction and mortgage rates that help you manage your financial life.
— The Money GPS: Find a company you thought was no longer in business, buy some shares, get rich quick. Is that what’s seriously happening right now?! (Instagram Jan 29, 2021)
— The Money GPS: Investing legend says bad things are coming because paper printing does not create an economy. (Instagram Jan 22, 2021)
— The Money GPS: The purpose of big tech is to absorb your data. Not to provide a service and later take advantage of you. Look up In Q Tel. (Instagram Jan 21, 2021)
— The Money GPS: To get where you want to be, you have to know where you are now. (Instagram Jan 4, 2021)
— The Money GPS: Master one thing before moving on. Know where you are in the cycle. (Instagram Dec 15, 2020)
— The Money GPS: Be a better investor | How to be a better investor. Window shop! (Instagram Dec 12, 2020)
— FOOTNOTES —
Wake up to the suits and ties. They’re all lying to you. None are your friends. None wish to help you. Wolves in sheep clothing. More distractions than ever before. The magician always makes a spectacle to hide the trick.
Powell was just asked about GameStop stock. Said he doesn’t want to comment. Yea… We know you don’t want to comment on it because you’ve created this madness. David Liesman asked a follow up, specifically asked him to talk about super low rates creating a bubble #gamestop pic.twitter.com/JF0mPhS9PY
Powell: “The real unemployment rate is close to 10% when you include those who have left the labor force” Money printing does not impact asset prices. Stocks and low interest rates not very correlated #gamestop pic.twitter.com/qruhSmyBZL
We live in a fantasy land. More money flowing in than ever before, IPO frenzy, housing skyrocketing. Euphoria never end well. The higher it goes the worse it will be. Slow and steady growth is much safer. #money #investments #debt
IF THEY WILL FIGHT OVER PLAYSTATION…What would they do for food? #ps5 #PlayStation5 #playstation #ps5fight #walmart pic.twitter.com/hbimVKzeta
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The Money GPS is the most active, most informative channel in the financial world. Day after day, breaking down the data and making it easy to understand. This channel is not here to help build a portfolio, give stock picks, or financial advice. It’s simply data that is generally not found through conventional means.
The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of The Duran.