U.S. Economic Recession Created Zombie Companies With $1.4 Trillion of Debt!
There has been a huge flow of money going into equities. In fact, it’s a record amount. At the same time debt has accelerated in countless corporations, including Apple, the biggest company in the world. Debt is so cheap and manageable for corporations with consistent revenue. But when things become unusual, suddenly you have a bunch of zombies and there’s no way out.
Hundreds of Companies That Got Stimulus Aid Have Failed – WSJ
About 300 companies that received as much as half a billion dollars in pandemic-related government loans have filed for bankruptcy, according to a Wall Street Journal analysis of government data and court filings.
Atlas Air refuses to repay US bailout funds – FreightWaves
Atlas Air Worldwide Holdings (NASDQ: AAWW) last week reported an eightfold increase in adjusted net income and 25% more revenue in the third quarter compared to last year, but will not return $406 million in emergency coronavirus aid the U.S. government intended for financially battered airlines to retain workers.
America’s Zombie Companies Have Racked Up $1.4 Trillion of Debt – Bloomberg
Thousands Line Up In Dallas For North Texas Food Bank’s ‘Largest Mobile Food Distribution Ever’ – CBS Dallas / Fort Worth
DALLAS (CBSDFW.COM) – Thousands of families lined up in Dallas on Saturday for a giveaway hosted by the North Texas Food Bank, and the organization called it its largest ever. Organizers said the NTFB gave away over 7,000 turkeys and around 600,000 pounds of food in Fair Park to those families in need as the holidays approach and the COVID-19 pandemic continues.
Thousands line up outside drive-thru Texas food bank where 600,000 pounds of food was given away | Daily Mail Online
The food bank distribution event, held by North Texas Food Bank (NTFB) in Dallas on Saturday, saw 600,000 pounds of food given away, including 7,000 turkeys Families were also handed 20 pounds of non-perishables, 15 pounds of fresh produce and bags of wheat bread during the Thanksgiving-themed distribution Photos taken
(18) CBS News on Twitter:
“Thousands of cars lined up to collect food in Dallas, Texas, over the weekend, stretching as far as the eye can see. https://t.co/xLFGOcBkPK” / Twitter
Thousands of cars lined up to collect food in Dallas, Texas, over the weekend, stretching as far as the eye can see. pic.twitter.com/xLFGOcBkPK
Year-End Fiscal Cliffs Are Approaching for Millions of Americans – Bloomberg
Goldman Plans New Round of Job Cuts as Pandemic Pause Ends – Bloomberg
MTA plots steep NYC subway, bus cuts in COVID budget crunch – New York Daily News
‘An end to the New York way of life’: MTA proposes catastrophic service cuts amid COVID-19 budget crunch
A 40% cut in weekday subway service and layoffs of more than 9,000 transit workers are on the table as MTA honchos battle a COVID-19 financial catastrophe, the Daily News has learned. “This would absolutely be an end to the New York way of life,” said Andrew Albert, the non-voting rider advocate on the MTA board.
U.S. Household Debt Rises To Record as Refinances Surge – Bloomberg
Recession-Defying Home Prices Challenge New Zealand Central Bank – Bloomberg
Fannie-Freddie Watchdog Demands Capital Above $280 Billion – Bloomberg
More money has been moving into the stock market right now while we have seen more debt accumulated. All forms of debt [whether] it is student loans, credit cards, line of credit, mortgages, etc. They’re all rising. Corporate debt has also accelerated.
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