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China a Bigger Threat to the US than Russia: Director of National Intelligence Ric GrenellDec 22, 2020 - 12:43:55 PST
China is a bigger threat than Russia because they have become a “crisis" for U.S. "business, academia, and the public,” former acting Director of National Intelligence Ric Grenell said on Tuesday.
Biden sees the current Covid-19 relief package as a "down payment" on more to come when he takes office.
The pandemic relief deal that Congress struck this week is long overdue. Unfortunately, the package includes a provision that threatens to make this and future crises worse — by limiting the emergency powers of the Federal Reserve.
Consumers cut back on applying for credit cards, and the Fed is not amused.
The ramifications, however, are unknown. Something in those 5593 pages is certain to bite in a big way.
Lance Roberts: Smaller Stimulus May Have Only "Muted" Effect On Economy This Time AroundDec 22, 2020 - 11:05:10 PST
Real Investment Advice's Lance Roberts explains in a Tuesday morning market update that the passage of the latest stimulus bill is only half as much as what was seen earlier this year.
Dec 22, 2020 - 09:53:11 PST
Jim Bianco is President and Macro Strategist at Bianco Research, L.L.C. Since 1990 Jim’s commentaries have offered a unique perspective on the global economy and financial markets.
Debt, Evictions, Job Losses: America’s Hollowed Out Middle Class Needs More HelpDec 22, 2020 - 09:29:19 PST
Even before the pandemic, many middle-class families lacked sufficient financial cushions in case of an emergency, never mind multiple emergencies such as job losses, higher childcare costs and more health care expenses. They turned to more debt, amid rising costs for childcare and health care.
Republicans like to mock Modern Monetary Theory — the idea that government can print money with impunity, that government can spend whatever it wants without the need to tax.
The second largest item is helicopter money ($166 billion). Direct checks will be sent as soon as next week according to Mnuchin. The checks will be $600 per individual, i,e, $600 per adult and $600 per child.
Dec 22, 2020 - 09:07:17 PST
This sums up the negative aspects that fiat currencies find themselves. Bitcoin and precious metals, anyone?
The Single Greatest Risk Today Is the Loss of the U.S. Dollar As the Reserve Currency: Sam ZellDec 22, 2020 - 08:21:47 PST
“Unlimited debt and irresponsible activity don’t lead to positive outcomes,” the billionaire real-estate mogul added. “That’s a disastrous kind of scenario.”
The Fed’s muscle and fresh government stimulus have buttressed markets. But the amount of ungaugable risk in the system remains high.
Europe’s top banking supervisor is writing to the region’s biggest lenders to warn that many of them are failing to do enough to prepare for a likely increase in bad loans due to the fallout from the coronavirus pandemic.
Social Security Is A Mess: There Are 6 Million Active Accounts Of People Aged 112+ Dec 22, 2020 - 08:10:08 PST
Our friends at Open The Books continue to expose government waste - and fraud - and in their latest investigation, they have shone the spotlight on one of the largest wastes in the US government: the Social Security Administration.
It's the biggest relative drop in emissions since the Second World War.
The Cruise Industry Won’t Return to Pre-Pandemic Levels Until 2030: AnalystDec 22, 2020 - 08:05:48 PST
The arrival of COVID-19 vaccines could give the beleaguered travel industry a much-needed shot in the arm heading in 2021.
‘It Feels Like We’re Back to March’: Restaurant Owners Say Additional COVID Relief Is ‘Not Enough’Dec 22, 2020 - 07:59:36 PST
"It's deja vu. It feels like we're back to March, April," says Di Pietro, referring to New York Gov. Andrew Cuomo's recent order to once again close indoor dining in New York City as daily Covid-19 cases state-wide surpassed 10,000 since the spring.
The 44 bankruptcies by companies with over $50 million since Oct. 1 make the fourth quarter of 2020 the worst for that period since 2009.
The coronavirus pandemic shuttered thousands of U.S. restaurants, gyms and stores, kept office workers at home and left hotel rooms sitting empty. Yet, so far, the commercial real estate market hasn’t really had a reckoning.