Archive for the 'Economy' Category
Almost 46 Million Americans Have Now Filed For Unemployment Claims Since Lockdowns Began
June 19th, 2020Via: ZeroHedge: Despite the hope-restoring nonfarm payrolls “recovery” and the over-hyped bounce in retail sales (ignoring the lack of ‘V’ in industrial production), in the last week 1.508million more Americans filed for unemployment benefits for the first time (notably worse than the 1.29mm expected). That brings the thirteen-week total to 45.7million, dramatically more than at […]
Feds Close to Spending More Than on Revolutionary, Civil War, WWI, II Combined
June 18th, 2020Via: CNS News: A coalition of conservative leaders sent a letter to President Donald Trump and Senate Majority Leader Mitch McConnell (R-Ky.) warning that the congressional spending in the coronavirus must stop because it’s getting very close to $10 trillion, which is more than the government spent fighting the Revolutionary War, Civil War, and World […]
COVID-19 Coin Shortage?
June 18th, 2020Via: CNBC: Federal Reserve Chairman Jerome Powell told Congress on Wednesday that the circulation of physical coinage has ground to a halt amid the coronavirus outbreak but that the central bank is working to fix the flow. … The spread of Covid-19 across the U.S. over the first half of the year has led to […]
Is The ‘Second Wave’ Another Coronavirus Hoax?
June 17th, 2020Via: Ron Paul: Just a week or so ago the mainstream media and thousands representing the “medical community” told us we must throw out the “stay-at-home” orders and go to the streets to protest the death of George Floyd at the hands of the police. The Covid-19 virus will not bother people who are protesting […]
Trillions in Stimulus Go Unchecked With Watchdogs Kept Toothless
June 17th, 2020Via: Bloomberg: The U.S. has spent more than half of $3 trillion in economic rescue funds passed by Congress — with little of the oversight intended to ensure the money goes to the right places.
Trump Team Prepares $1 Trillion Infrastructure Plan to Spur Economy
June 16th, 2020Via: Reuters: The Trump administration is preparing an up to $1 trillion infrastructure package focused on transportation projects as part of its push to spur the world’s largest economy back to life, a source familiar with the situation said on Tuesday. The Department of Transportation’s preliminary version reserves most funds for projects such as roads […]
Starlink Will Cause Large Change in Seismic Oil and Gas Exploration
June 15th, 2020Oil companies use tape to store information collected from reflection seismology. A lot of tape. A lot of bulky, slow, expensive tape. Starlink will allow for the fast movement of terabytes of data from remote exploration vessels to cloud storage for analysis. Currently, the data moves by crates in helicopters and trucks. Via: BigMarker: For […]
Central Banks Bailed Out Markets To Avoid Trillions In Pension Losses
June 14th, 2020Via: ZeroHedge: The Organization for Economic Co-operation and Development (OECD) recently published a report showing how pension funds in OECD countries recorded a massive loss of approximately $2.5 trillion during the stock market meltdown in February through late March. Shortly, after that, central banks intervened with monetary cannons to rescue stock markets and other financial […]
Hawaii: Great Depression-Level Unemployment as Tourism Plummets
June 13th, 2020Via: ABC: Roughly 25% of the jobs in Hawaii are connected to tourism, which has almost entirely vanished, according to Bonham. “Because we rely completely on air travel, when you shut down tourism with a 14-day quarantine and you go from 30,000 airline passengers per day to a few hundred, that’s a very different situation […]
Homelessness Jumps 13% in Los Angeles County
June 12th, 2020Via: AP: The number of homeless people counted across Los Angeles County jumped 12.7% over the past year to more than 66,400 and authorities fear that figure will spike again once the full impact of the coronavirus pandemic is felt, officials said Friday. The majority of those experiencing homelessness were found within the city of […]
