Archive for the 'Economy' Category
Millions Of Americans Skip Payments As Tidal Wave Of Defaults And Evictions Looms
June 4th, 2020Via: NPR: Americans are skipping payments on mortgages, auto loans and other bills. Normally, that could mean massive foreclosures, evictions, cars repossessions and people’s credit getting destroyed. But much of that has been put on pause. Help from Congress and leniency from lenders have kept impending financial disaster at bay for millions of people. But […]
Pandemic Effects Could Leave 54 Million Americans Without Food
June 1st, 2020Via: Guardian: A record number of Americans face hunger this year as the catastrophic economic fallout caused by the coronavirus pandemic looks set to leave tens of millions of people unable to buy enough food to feed their families. Nationwide, the demand for aid at food banks and pantries has soared since the virus forced […]
California Hospitals Struggle Financially After Preparing for COVID-19 Surge that Never Came
May 28th, 2020Don’t worry: Now, reeling from the twin financial blows, hospitals are struggling to get ready for a possible new surge in cases this autumn, and wrestling with the question of whether they over-prepared last time around. Via: Reuters: As the novel coronavirus tore through Italy and then New York in March, California, anticipating a deadly […]
Boeing Cutting More than 12,000 U.S. Jobs with Thousands More Planned
May 27th, 2020Via: Reuters: Boeing Co said Wednesday it was eliminating more than 12,000 U.S. jobs, including involuntary layoffs of 6,770 U.S. workers as the largest American planemaker restructures in the face of the coronavirus pandemic. Boeing also disclosed it plans “several thousand remaining layoffs” in the next few months but did not say where those would […]
Hong Kong Security Law Is Going to Devastate Its Economy
May 27th, 2020Via: Nikkei: China’s announcement last week that it plans to impose national security legislation on Hong Kong raised grave concerns about the city’s democracy. But the economic toll could be sizable, too. At the very least, Hong Kong can kiss goodbye its status as the world’s second-freest economy, a halo bestowed by the Heritage Foundation. […]
Salaries Get Chopped for Many Americans Who Manage to Keep Jobs
May 27th, 2020Via: Bloomberg: Companies across the U.S. are cutting salaries as they fight to survive the coronavirus, upending a key assumption in modern economics and raising another hurdle to rapid recovery.
Moderna Executives Cashed Out $89M in Shares as Stock Soared on Vaccine Hopes
May 27th, 2020Via: Stat News: The top five executives at the biotech company Moderna have sold more than $89 million of stock so far this year — initiating nearly three times as many stock transactions than in all of 2019 — as the company’s share price has soared on hopes for its Covid-19 vaccine. The trades, which […]
Lockdown Suicide Data Reveal Predictable Tragedy
May 26th, 2020Via: American Institute for Economic Research: On March 28, the American Institute for Economic Research ran a terrifying article that didn’t receive the attention it deserved, even though the research behind it was impeccable and detailed. It was Drugs, Suicide, and Crime: Empirical Estimates of the Human Toll of the Shutdown. On suicide in particular, […]
How Fear, Groupthink Drove Unnecessary Global Lockdowns
May 26th, 2020Via: Real Clear Politics: In the face of a novel virus threat, China clamped down on its citizens. Academics used faulty information to build faulty models. Leaders relied on these faulty models. Dissenting views were suppressed. The media flamed fears and the world panicked. That is the story of what may eventually be known as […]
Scared Americans Desperate to Travel Are Buying Up ‘Covid Campers’
May 26th, 2020All mainstream media are pushing the “second wave” scenario. Via: Bloomberg: Cooped-up Americans desperate to get out after months of lockdowns are dreaming of doing something—anything—that resembles a vacation. But a majority of them worry a second wave of the coronavirus is coming, and think politicians have pushed too fast to reopen. Unsurprisingly, when it […]
