Economic

Peter Schiff: Economic "Rescue" Plan Like Throwing A Drowning Man An Anchor

Via SchiffGold.com, President-elect Joe Biden unveiled his massive stimulus plan last week touted as the “American Rescue Plan.” In his podcast, Peter Schiff said it was more like throwing a drowning man an anchor. Before Biden announced his stimulus plan, Jerome Powell spoke and reassured everybody that the Fed will continue with its loose monetary…

America's Slide Into Economic Oblivion Is Already Starting To Accelerate Here In 2021

Authored by Michael Snyder via TheMostImportantNews.com, Isn’t it fun to live in a rotting, decaying society that is coming apart at the seams all around us?  The latest economic numbers are extremely depressing, but now that free speech is being abolished and the elite are consolidating control over every aspect of our society, we are being assured…

America’s Slide Into Economic Oblivion Is Already Starting To Accelerate

By Michael Snyder Isn’t it fun to live in a rotting, decaying society that is coming apart at the seams all around us?  The latest economic numbers are extremely depressing, but now that free speech is being abolished and the elite are consolidating control over every aspect of our society, we are being assured that better…

Saudi Arabia Lifts Its 3.5 Year Economic Blockade Of Qatar In US-Brokered Deal

Within the Gulf Cooperation Council (GCC) a more than three-year diplomatic and economic war has raged between Saudi Arabia and Qatar, which has even involved the closing of borders and airspace between the two (with UAE firmly in the Saudi camp), hardening into a total economic blockade of Qatar by other members (also including Bahrain and Egypt) but the…

Xi's Feigned Economic 'Success' A Mounting 'Powder Keg' With World

“The gap between Xi’s confidence and the world’s grim reality is glaring,” analysis in Nikkei Asia Review recently observed. This need “to portray ‘success’ at party anniversary will be powder keg with the world.” The analysis begins, “When it comes to statements issued after key meetings of the Chinese Communist Party, what is not written – especially what…

High Wage Vs. Low Wage: Visualizing America's K-Shaped Economic 'Recovery'

While it’s not uncommon for low wage workers to bear the brunt of an economic recession, this year’s economic collapse has been exceptionally brutal for America’s lower income employees. Employment rates for high wage workers have bounced back from their spring slump, but, as Visual Capitalist’s Carmen Ang points out, unfortunately, the recovery hasn’t been as…

Crappy Holidays & Other Economic Carols For 2020

While singing of all sorts is officially off the table in Newsom’s Californiastan, the kind gentle folk at BMO Capital Markets offer the following ‘Economic Carols’ for your entertainment… It’s Beginning To Look A Lot Like Stimulus (sung to the tune of It’s Beginning To Look A Lot Like Christmas) It’s beginning to look a…

Why The Second Stimulus Won't Have Much Economic Impact

Authored by Lance Roberts via RealInvestmentAdvice.com, In October, I discuss how the “2nd Derivative Effect” would mute the impact of future stimulus programs. With the passage of the $900 billion stimulus package, we can update the estimates for the economic impact heading into 2021. While most hope more stimulus will cure the economy’s ills, the “2nd derivative…

MBA Applications Surge Despite Fed Defiling All Economic Laws As We Know Them

Who in their right mind would want to be an MBA in this environment? That’s the first question that came to our minds when we found out that MBA application volume was surging. Thanks to vast distortions in both capital markets and the economy brought on by the Fed rigging interest rates and introducing limitless money…

Restaurant Industry Warns Of “Economic Free Fall” As 110,000 Eateries And Counting Are Permanently Shuttered

By Tyler Durden The National Restaurant Association (NRA) sent a damning letter to Congress today (Dec. 7) addressing the collapse of more than one hundred thousand restaurants across the country this year because of the virus pandemic. In just the last three months, the letter said more than 10,000 eateries have closed, and thousands of others are in…

Restaurant Industry Warns Of “Economic Free Fall” As 110,000 Eateries And Counting Are Permanently Shuttered

The National Restaurant Association (NRA) sent a damning letter to Congress today (Dec. 7) addressing the collapse of more than one hundred thousand restaurants across the country this year because of the virus pandemic. In just the last three months, the letter said more than 10,000 eateries have closed, and thousands of others are in “economic freefall.”  The…

Growing Food Bank Lines Across America Signal Economic Crisis Far From Over

By Tyler Durden Millions of Americans face food and housing insecurity this holiday season. The unemployment rate stands around 6.9%, with more than ten million folks still out of work. Permanent job loss continues to soar, now about 3.8 million, as a double-dip recession becomes increasingly likely by year-end. We recently pointed out that food bank lines…

Growing Food Bank Lines Across America Signal Economic Crisis Far From Over 

Millions of Americans face food and housing insecurity this holiday season. The unemployment rate stands around 6.9%, with more than ten million folks still out of work. Permanent job loss continues to soar, now about 3.8 million, as a double-dip recession becomes increasingly likely by year-end.  We recently pointed out that food bank lines continue to increase…

Number Of 401(k) Millionaires Hit New Highs Amid Worsening Economic Inequality

Fidelity, the largest 401(k) provider in the US, has just released its third-quarter analysis titled “Building Financial Futures” that outlines the number of 401(k) millionaires hit a new high during the pandemic, reported WaPo.  Fidelity said client balances of more than one million dollars for 401(k) accounts increased to 262,000, up 17% from the previous quarter….

Election Distraction Has Taken Eyes Off Our Economic Ills

Authored by Bruce Wilds via Advancing Time blog, Lately it has been difficult to write about the economy because of all the noise flowing from the election and covid-19 hype. There is a growing reluctance to opine by many economic skeptics because it appears we have been wrong on recent predictions. Only time will tell…

Tales Of Cobras, Windows, And Economic Promise

Authored by Michael Lebowitz and Jack Scott via RealInvestmentAdvice.com, The heart of him who has understanding seeks knowledge, but the mouths of fools feed on folly. Proverbs 15:14 The term “cobra effect” is used when an attempted solution to a problem worsens the problem by unleashing unintended consequences. The name derives from a tale originating in…

In Moment Of Brutal Honesty, JPMorgan Says Economic Disaster And More Lockdowns Will Be Great For Stocks

After reading months of ridiculously goalseeked Wall Street commentary, where first a Trump victory was the best outcome for stocks (at a time when Trump was seen as a favorite to win), then a Biden victory becoming the best-case outcome for risk assets (this predictably emerged around the time Biden took a lead in the…

Deep Recession and Contraction of Global Economy: “Second Wave” Covid Economic Impact?

  The reopening of the US economy in June—and some states as early as May—has produced a modest economic ‘rebound’. But rebound is not to be confused with economic recovery. The current rebound is the natural result of the US economy collapsing 40% between March and June 2020. In the first quarter, January-March 2020, the…

Killing Capitalism: Technocrats Spark Worst Economic Collapse In 150 Years

The coronavirus pandemic inflicted a “swift and massive shock” that has caused the broadest collapse of the global economy since 1870 despite unprecedented government support, the World Bank said Monday. The world economy is expected to contract by 5.2 percent this year — the worst recession in 80 years — but the sheer number of…