The Economy Continues To Unravel Despite All Stimulus Measures
By Brandon Smith Since the pandemic lockdowns were first implemented in the US I have been more concerned with the government and central bank response…
Economic Collapse
NYC Restaurants Sue Cuomo For $2BN For Refusing To Allow Return Of Indoor Dining
By Tyler Durden After slamming President Trump for acting “like a king”, NY Gov Andrew Cuomo has mercifully allowed more businesses in the Empire State…
United Airlines To Slash 16,370 Jobs As Air Travel Sinks
By Tyler Durden United Airlines joined American Airlines in the latest round of massive job cuts as the virus pandemic continues to batter the travel and…
In Unprecedented Move, CDC Halts Most Rental Evictions Until End Of 2020
By Tyler Durden In an unprecedented move on Tuesday, with Congress unable to reach a common ground on virtually any stimulus extension, the Centers for…
Pension Funds Start Looking to Gold to Avert Disaster
By Stefan Gleason Public and private pension plans face a dual crisis. The first and most obvious threat to pensioners is that defined-benefit vehicles are…
New Jersey Hikes Gas Tax By 22.5%, Bringing Total Increase Since 2016 To 250%
By Tyler Durden Not content with driving out its wealthiest with yet another tax hike on millionaires, New Jersey just made life for all of…
MGM Resorts To Fire 18,000 Employees, A Quarter Of Its Workforce
By Tyler Durden While stocks soar to record highs by the day, no prosperity is “trickling down” to the leisure and hospitality industry – the…
17 Facts That Prove The U.S. Economy Is A Complete And Total Disaster Zone At This Point
By Michael Snyder If you know people who actually believe that the U.S. economy is moving in a positive direction, just show them this article. …
Mortgage Delinquencies Soar To Decade High
By Tyler Durden Readers may recall last week we outlined the dam of pent up mortgage delinquencies continued to crack, with the share of delinquent Federal Housing Administration’s…
US Default Bomb Goes Off: 2020 Will Have A Record Number Of Large Corporate Bankruptcies
By Tyler Durden The disconnect between the all-time highs in the stock market and the broader economy has never been greater (with even Janet Yellen,…
“These Are Staggering Numbers”: Spending By Unemployed Americans Plunges As Fiscal Stimulus Ends
By Tyler Durden One month ago, with millions of newly unemployed Americans fearful about their future in an economy transformed by the covid pandemic, Deutsche…
Lodging Group Warns That Hotels Are Headed For An “Unprecedented Wave Of Foreclosures”
By Peter Romeo of Restaurant Business Payments on nearly one-fourth of all loans backed by hotel real estate are delinquent by at least 30 days,…
Lockdowns, Coronavirus, and Banks: Following the Money
By Anthony James Hall It usually makes sense to follow the money when seeking understanding of almost any major change. The strategy of following the…
250,000 Las Vegans Face Eviction Next Month
By Tyler Durden Las Vegas is expected to become one of the focal points of the eviction crisis as nearly a quarter-million people could be removed from…