Each sector has felt the Crisis of 2020 differently, that’s for sure. Retail has taken a huge hit, there’s no doubt and as a result, the data is piling up and won’t stop. We have seen such a massive injection of capital into the system but it won’t do any good. This sector was weakened before 2020 and this just put it over the edge. W[h]at will come of all of this commercial real estate?
Struggling Retailers Rack Up $52 Billion in Missed Rent – Bloomberg
Delayed unemployment benefits led to $20,000 in credit card debt
change in debt to gdp.jpg (720×694)
Kenya Seeks $2.3 Billion Loan From IMF to Help Economic Recovery – Bloomberg
. [Guitar Center Takes Next Step to Recapitalize Company with Comprehensive Support Agreement and Financing]
Guitar Center Takes Next Step to Recapitalize Company with Comprehensive Support Agreement and Financing All Financial Obligations to Vendors, Suppliers and Employees Will Continue to Be Paid in Full in the Normal Course Business Operations Will Continue Uninterrupted Agreement Includes Up To $165 Million In New Equity Investments to Recapitalize Company And Reduce Debt by Nearly $800 Million Provides for $375 Million in Additional Near-Term Liquidity Guitar Center, Inc.
Dow could hit the 40,000-point level next year, analyst says
The Dow Jones Industrial Average stock index has the potential to reach the 40,000-point mark in 2021, according to Patrick Spencer, the vice chair of equities at investment bank Baird. He explained on CNBC’s ” Street Signs Europe” Wednesday that the index contained more value than growth stocks, and expects the former to outperform while the latter stabilizes.
Amazon Expands Push Into Health Care With Online Pharmacy – Bloomberg
Buffett bets on big pharma and bails on banks
Mr Buffett’s company had stakes valued at more than $1.8bn each in AbbVie, Bristol-Myers Squibb and Merck at the end of the quarter, and about $136m in Pfizer. Berkshire omitted some confidential information with its routine regulatory filing.
Tech icon criticizes San Francisco, announces move to Florida: ‘Impossible to stay here’
Bay Area tech icon Keith Rabois announced he’s leaving San Francisco permanently – and he is criticizing the city on his way out. Rabois, an early executive at PayPal, Square, LinkedIn and more, told Fortune he is “moving imminently” because he’s finding it “impossible to stay” in San Francisco.
Caribbean Island Work Rule and Covid-19: How to Enter, What Visa, How Long Stay – Bloomberg
Canadian Housing Market Gets Reality Check With Drop in Sales – Bloomberg
Worldwide Cost of Living 2020 – Economist Intelligence Unit
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The stock market has been driven higher by ultra low interest rates. The economy is going in a very different direction in 2020.
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