Deepest Economic Contraction in History Has Only Just Begun To Wreak Havoc
There are serious consequences for attempting to stop the business cycle from functioning. The system needs an Economic Detox and yet it’s just getting more of the [s]ame garbage fed to it, every single day. The problem is only compounded. The danger is only mounting. The desire to create a bigger bubble is not to help people, help the retirement account[s], and help main street. It’s specifically to cause the biggest collapse possible to effect massive change, further erode the middle class, and enrich the elite. But hey, who cares, right?
Goldman Warns of More Job Losses With Jumbo Mergers on the Rise
Wall Street’s top matchmaker for megadeals sees a wave of corporate takeovers coming with a worrying implication for the workforce: a jump in job losses.
Pandemic worsens NYC’s food crisis
The lines are long and the need is enormous. More than 1 million New Yorkers can’t afford food, and standing on long lines at food banks is now too common amid the pandemic. “We have done disasters before but nothing is even close to what we are doing now,” Alexander Rapaport, the executive director of Masbia soup kitchen network, told FOX 5 NY.
Rampant shoplifting leads to another Walgreens closing in S.F. – SFChronicle.com
After months of seeing its shelves repeatedly cleaned out by brazen shoplifters, the Walgreens at Van Ness and Eddy in San Francisco is getting ready to close. “The last day is Nov. 11,” Walgreens spokesman Phil Caruso said.
Real Estate Market: Rental Apartments, Houses Pile Up From New York to Singapore – Bloomberg
Container slots sell out, risking holiday ‘shipageddon’ – FreightWaves
“The ships are 100% full. The containers are 100% full. You can’t get a container built. You can’t pick up a ship from the spot market. The whole container-shipping cycle is at absolutely full pelt,” exclaimed Jeremy Nixon, CEO of Ocean Network Express (ONE), the world’s sixth-largest container line.
Technically Speaking: Market Bulls Are “All-In” Again – RIA
In yesterday’s post on “Moral Hazard,” we discussed how Fed actions shifted the “risk appetite” of investors through “perceived” insurance against losses. As we head into a potentially contentious election, market “bulls” are “all in” again as hopes remain high that more “stimulus” will soon come.
U.S. Justice Department hits Google with biggest antitrust …
Top Universities Took Billions in Unreported Foreign Funds, U.S. Finds – WSJ
Cornell University initially failed to report to U.S. authorities more than $1.2 billion in foreign funds it has received in recent years, including $760 million related to its campus in Qatar and about $1 million in contracts from Chinese telecom company Huawei Technologies Co., the U.S.
Robots Encroach on Up to 800 Million Jobs Around the World
Advances in automation technology threaten a significant share of jobs in industries accounting for nearly a quarter of the global workforce, according to Bloomberg Economics’ estimates. In a report released Tuesday, economists Ziad Daoud and Scott Johnson said that could mean as many as 800 million people face a high exposure to the risk of their employment becoming obsolete.
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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 financial system is quite different than 2019, that’s for sure. People are buying into stocks. They are buying tech stocks. We have watched many equities, securities go higher. Much price appreciation.
The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of The Duran.