Archive for the 'Economy' Category
11 Million Households Could be Evicted Over the Next Four Months
July 28th, 2020Via: Fast Company: Every year, about 2.3 million American renter households receive eviction papers at some point. During the COVID-19 pandemic, we might see that many evictions in one month. Global advisory firm Stout, with input from the National Coalition for a Civil Right to Counsel (NCCRC), used census survey results and income data to […]
Gold: Record High
July 27th, 2020In other news: Second Stimulus Check Coming in August Via: Market Watch: Gold prices hit a fresh record on Monday, as investors continued to fret over the state of the COVID-19 battered global economy and amid concerns over the sticking power of stock gains. August gold GC00, 2.01% GCQ20, 2.01% surged $38.70, or 2%, to […]
Trump Eases Restrictions On Armed Drone Sales Abroad
July 25th, 2020Via: DefenseOne: The Trump administration is relaxing arms export restrictions, a move long sought by drone makers but one that critics say will provide little competitive edge to U.S. companies even as it alienates allies. U.S. drone makers have complained that regulations have allowed China to sell copycat dones to U.S. allies and partners. “We […]
Tesla Will Build Next Factory in Texas
July 23rd, 2020Via: Ars Technica: On Wednesday afternoon, Tesla CEO Elon Musk answered questions from investors following the publication of the company’s latest quarterly results. The headline news is that Tesla has picked Texas as the site for its next factory. When asked how many cars this new car plant could build, Musk told the call that […]
Insider Selling Soars
July 22nd, 2020Via: ZeroHedge: Four months later, with the S&P now back to just a whisker away from all time highs, and a handful of tech stocks at never before seen levels… … insiders have had enough and, confirming that valuations are in some cases even beyond dot com levels, have turned from rabid buyers into sellers […]
The Real Unemployment Rate Is 21%… And Heading Higher
July 21st, 2020Via: Of Two Minds: It is somewhat less than reassuring that the “official” unemployment rate of around 12% is roughly half of the “real-world” unemployment rate. As always in the wonderful world of statistics, especially politically potent ones, it depends on what you measure, what you don’t measure / act as if it doesn’t exist, […]
Never Before Has So Much Stimulus Been Injected In The Economy In A Single Quarter
July 21st, 2020Via: ZeroHedge: Pandemic-Driven Recession Is Not Over Back-to-back strong monthly gains in retail sales in May and June and a powerful rebound in the equity markets in Q2 create the impression the recession is over. But the recessionary environment is only delayed, hidden by the record amount of fiscal and monetary stimulus that has postponed […]
Boeing Is Running Out of Space to Stash Newly-Built 787 Dreamliners
July 20th, 2020Via: Bloomberg: Boeing Co. is running out of space to stash newly-built 787 Dreamliners, with jetliners seemingly tucked onto every available patch of pavement on airfields near its factories in Washington and South Carolina. Dozens of the planes are sitting on the company’s premises, according to people familiar with the situation. Uresh Sheth, a much-followed […]
On Eve of Bankruptcy, U.S. Firms Shower Execs with Bonuses
July 17th, 2020Via: Reuters: Nearly a third of more than 40 large companies seeking U.S. bankruptcy protection during the coronavirus pandemic awarded bonuses to executives within a month of filing their cases, according to a Reuters analysis of securities filings and court records. Under a 2005 bankruptcy law, companies are banned, with few exceptions, from paying executives […]
Eviction Looms for Millions of Americans Who Can’t Afford Rent
July 16th, 2020Via: Morningstar: Millions of Americans who have missed rent payments due to the coronavirus pandemic could be at risk of being evicted in the coming months unless government measures to protect them are extended, economists and housing experts say. Nearly 12 million adults live in households that missed their last rent payment, and 23 million […]
