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In today’s video Mike Maloney asks an obvious question, one that no one else seems to be addressing…How, exactly, would a universal basic income work economically?An article today quotes a London professor who says there is “no prospect of a global economic revival without a universal basic income.” He went so far as to say “it’s almost a no-brainer… we are going to have some sort of basic income system sooner or later…”Even the Pope weighed in: “This may be the time to consider a universal basic wage.”
If the negative economic consequences linger, it’s reasonable to expect that governments and central banks will shovel piles of cash into...
Billionaire Paul Singer's Elliott Management said global stocks could tumble more — ultimately losing half of their value from February's high — as the world braces for the deepest recession since the 1930s-era Great Depression, according to a letter sent to clients on Wednesday and reviewed by Reuters.
U.S. small businesses may need as much as $500 billion a month to fully ensure their survival through the widespread closures and disruptions slamming their revenue during the coronavirus crisis, Atlanta Federal Reserve bank President Raphael Bostic said Thursday.
How did consumers become so vulnerable to a loss of income, job security, and standard of living?
The International Monetary Fund warned the economic havoc caused by the coronavirus pandemic could spark further social unrest around the globe and urged governments to take steps to prevent the di…
Homeless shelters across the country are facing volunteer shortages and increased operation costs as they find ways to respond to the deadly coronavirus outbreak while continuing to take in residents.
Average asking rents in the city continued to fall during the first quarter, which ended on March 31, with the average of the New York City neighborhoods surveyed dropping 9% year over year to $714 per square foot, according to CBRE.
Nobel economist Robert Shiller discusses the power of narratives during a pandemic.
It’s a quarter of GDP. That is to say, the response from Congress and the Fed totals significantly more than the $5.4 trillion of goods and services spewed forth by the U.S. economy in the fourth quarter of 2019.
Government confusion has undermined public understanding of the crisis, and has potentially compromised California's response....
Some Americans say they haven’t gotten their coronavirus stimulus checks because the feds sent the money to the wrong bank accounts.
What’s more, it appears the survivors can keep the money, Markowitz and other tax experts told MarketWatch.
Social Security is now dipping into its reserves—the so-called “trust fund”—to pay benefits. That’s because the system isn’t taking in enough cash from payroll taxes, which is how the gargantuan Social Security program—by far the single biggest source of federal spending—is financed.
Distressed credit investors are already assembling funds to take advantage of what may be the largest liquidation of commercial properties in a century. Rather than 2008, however, the operative model for the COVID19 crisis may be closer to the deflationary years of the mid-1930s. The chart below shows unemployment through March from the Bureau of Labor Statistics and the consensus estimate for April unemployment.
With all of the economic chaos and uncertainty spurred by the government lockdowns in response to coronavirus, the demand for physical gold and physical silver has skyrocketed. That has put a significant squeeze on the supply of gold bullion products.That squeeze is about to get tighter.
"The damage that is being done every day is enormous," Expedia and IAC Chairman Barry Diller told CNBC on Thursday.
The Small Business Administration’s rescue loan program has hit its $349 billion limit and is now out of money.
U.S. homebuilding fell more than expected in March as the Covid-19 outbreak slammed the housing industry, despite lower mortgage rates.
22 Million Jobless Claims Erase All Jobs Created Since The Great RecessionApr 16, 2020 - 07:04:35 PDT
What is most disturbing is that in the last four weeks, more Americans have filed for unemployment than jobs gained during the last decade since the end of the Great Recession... (22.13 million gained in a decade, 22.025 million lost in 4 weeks).