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Cuomo’s Tax Ultimatum: New York’s Governor says bail him out or he’ll punish New Yorkers: WSJJan 25, 2021 - 08:11:08 PST
Viewers of Andrew Cuomo’s Emmy-award winning Covid-19 briefings may have noticed how the New York Governor has become increasingly excitable. In this week’s budget show, he pointed an economic gun at New York and threatened to shoot if Washington doesn’t fork over $15 billion.
Today we are going to focus on my stock market expectations. As I promised last week, this is a “Generational Call.” For reasons we will go into below, I think we are at a pivot point for stocks, with some clear exceptions I will outline.
“This has been the most severe crisis for the world of work since The Great Depression of the 1930s. Its impact is far greater than that of the global financial crisis of 2009,” said ILO Director-General Guy Ryder. The fallout was almost equally split between reduced work hours and “unprecedented” job losses...
After an initial spike higher, the dollar has been falling steadily since the Covid-19 pandemic took hold in the U.S. last March. It is down about 10% to 12% relative to America’s major trading partners, dropping to its weakest levels since early 2018 as measured by several of the broad dollar indexes. There is more to come.
Now, with excitement building ahead of a hotly-anticipated virtual "bitcoin corporate strategy" summit in the first week of February, a record near-$4 billion worth of bitcoin options are set to expire this Friday, January 29.
World gold production dropped by 5.4% in 2020 according to preliminary estimates released by GlobalData last week.Global data projects gold production came in at 108 million ounces last year. The sharp decline was largely due to mine closures during the coronavirus pandemic. But it also fits into a broader trend of declining mine output we've seen over the last several years.
A common thread runs through these scenes from the plague year 2020: Cheap money, gushing in from the world’s major central banks, inflated assets and reshaped how we save, invest, and spend. And that’s not the end of it.
Bridgewater Associates founder Ray Dalio wrote on Twitter on Sunday that the United States is still in a "terrible financial state" and remains "terribly divided"...
China Overtakes U.S. as World’s Leading Destination for Foreign Direct Investment: WSJJan 25, 2021 - 05:41:42 PST
New investments by overseas businesses into the U.S., which for decades held the No. 1 spot, fell 49% in 2020, according to U.N. figures.
While global growth is still on course to rebound quickly from the recession of last year at some point, it may take longer to ignite and not be as healthy as previously forecast. The World Bank already this month trimmed its prediction to 4% in 2021 and the International Monetary Fund will this week update its own outlook. Double-dip recessions are now...
A U.S. aircraft carrier group led by the USS Theodore Roosevelt has entered the South China Sea to promote "freedom of the seas", the U.S. military said on Sunday, at a time when tensions between China and Taiwan have raised concern in Washington.
COVID-19’s Financial Toll Mounts As Homeowners Keep Postponing Mortgage Payments: WSJJan 25, 2021 - 05:33:06 PST
Some 2.7 million homeowners are still pausing their monthly mortgage bills, and more might need help in the coming months.
An ‘Aggressive’ Fight over Containers Is Causing Shipping Costs to Rocket by 300%Jan 25, 2021 - 05:26:28 PST
Industry watchers said desperate companies wait weeks for containers and pay premium rates to get them, causing shipping costs to skyrocket.
Stocks Will Fall at Least 30% in a Drawn-Out Bear Market, Investor David Tice WarnsJan 25, 2021 - 05:24:48 PST
Former Prudent Bear Fund manager David Tice is cautious due to Washington policies, an overvalued market and Covid-19 vaccine concerns.
Biden Pushes Elusive ‘Buy American’ Goal to Order the Government to Buy More U.S. GoodsJan 25, 2021 - 05:21:54 PST
President Joe Biden will take steps to harness the U.S. purchasing power to increase domestic manufacturing and create markets for new technologies.
Chinese President Xi Jinping is speaking at Davos Agenda, a virtual event organized by the World Economic Forum, joined by the organization’s founder Klaus Schwab.
Chinese President Xi Jinping warned global leaders at an all-virtual Davos forum Monday against starting a "new Cold War", and urged global unity in the face of the coronavirus pandemic.
Mega-Rich Have Already Recovered from Pandemic Losses, but It Could Take the Poor a Decade: OxfamJan 25, 2021 - 05:09:02 PST
The 1,000 richest people on the planet recouped their losses caused by the coronavirus pandemic within nine months, according to estimates from charity Oxfam.
The U.S. is recording at least 170,000 new Covid-19 cases and at least 3,080 virus-related deaths each day, based on a seven-day average of JHU data.
The Joe Biden administration got underway last week. The newly inaugurated issued a flurry of executive orders, many of them relating to the economy. In his podcast, Peter Schiff talked about the potential impact of these EOs. He said it looks like Americans voted for Joe Biden, but they ended up with Bernie Sanders.