Some 42% Of Jobs Lost In Pandemic Are Gone For Good
Only some of roughly 36 million jobs lost since the beginning of the lockdowns designed to protect hospitals from surging cases of COVID-19 patients are not coming back in a V-shaped or a U-shaped recover. The University of Chicago estimates that 42% of the recent layoffs will result in permanent job losses.
“There’s no reasonable way to handicap this. If we were in a recession and you were asking me how long would it take to come out, I could handicap that pretty well just looking back at history. I can’t do that with this… (Continue to full article)
Pending Home Sales Plummet 35% YoY
Biggest Drop Ever As Buyers Forfeit Deposits “…this huge drop would indicate buyers forfeiting the deposit and walking away as they think the loss on the purchase would be higher than the deposit itself!!!
The housing market is temporarily grappling with the coronavirus-induced shutdown which reduced listings and purchases as many of these bank reserves are being depleted due to the economic downturn… (Continue to full article)
Over 40 Million Jobless In 10 Weeks
Nobody Ever Imagined It Would Get This Bad So Fast… what is most disturbing is that in the last ten weeks, almost twice as many Americans have filed for unemployment than jobs gained during the last decade since the end of the Great Recession… (Continue to full article)
Another Bank Bailout Under Cover of a Virus
Insolvent Wall Street banks have been quietly bailed out again. Banks made risk-free by the government should be public utilities.
When the Dodd Frank Act was passed in 2010, President Obama triumphantly declared, “No more bailouts!” But what the Act actually said was that the next time the banks failed, they would be subject to “bail ins” – the funds of their creditors, including their large depositors, would be tapped to cover their bad loans… (Continue to full article)
4th-Largest US Rental Car Company, Advantage, Files for Bankruptcy: 3rd Time in Decade, Hertz & Private Equity Written All Over It
The “bare bones” petition is a sign that “something was about to happen.” Pressure piles on the used-vehicle wholesale market.
The second major rental car company popped in less than a week – but this one is owned by a private equity firm, Catalyst Capital Group in Canada. Advantage Holdco Inc., the holding company of Advantage Rent-a-Car, the fourth largest rental car company in the US, filed for Chapter 11 bankruptcy on Tuesday late evening… (Continue to full article)
A Growing Wave of Bankruptcies Threatens U.S. Recovery
The bankruptcy epidemic in the U.S. started last year, long before any COVID-19 pandemic had touched down. U.S. retailers ranked among the greatest casualties of 2019 with a total of 17 bankruptcies. Big names among the retail bankruptcies in 2019 included Gymboree on January 16; Charlotte Russe on February 3; Things Remembered on February 6; Payless ShoeSource on February 18; Charming Charlie on July 11; Barneys New York on August 6; and Forever 21 on September 29. Now, the retail shutdowns resulting from COVID-19 have simply accelerated what was already a growing trend of companies seeking relief from debts they cannot pay back… (Continue to full article)
THIS $100 TRILLION FRAUD COULD COST YOU EVERYTHING!!
You don’t own what you think you own, and it could cost you everything. The DTCC is tasked with settling more than 500 MILLION shares of stock traded each day. If they aren’t doing so, you don’t own what you think you own, and it could cost you everything. The REAL NEWS the mainstream media won’t touch…
A story which I covered nearly 25 years ago… and NOW – people have stopped listening! (Continue to full article)
Food Shortages ‘May Only Get Worse’: Be Prepared ‘To See High Prices At Grocery Stores’
If you have been to a grocery store lately, then you already know that prices are higher than usual and that there are shortages of certain items. Many Americans have been assuming that as COVID-19 restrictions are slowly rolled back that these shortages will eventually disappear, but now even the Washington Post is admitting that “shortages may get worse” in the weeks and months ahead. Of course there will still be plenty of food available in the grocery stores, but… (Continue to full article)