As more and more people find themselves without work, governments will feel the additional pressure. T[h]is has already been highlighted in the increase of taxation on the public. More taxation equates to slower growth. As a result, more stimulus will be needed. This cycle will continue and there will be no more market. Just control from the few, over the many. In any historical similarity, this always ends badly.
Americans Not Paying Rent: Las Vegas Tops US in Apartment Delinquencies – Bloomberg
Las Vegas Tops U.S. in Rise of Apartment Tenants Not Paying Rent
(Bloomberg) — With Covid 19 tanking tourism, Las Vegas saw the biggest jump in apartment tenants who have stopped paying rent. In September, 10.6% of Vegas tenants missed a rent payment, up from 4.1% a year earlier, the largest increase in the U.S.
Cineworld brings down the curtain on U.S., U.K. theaters; 45,000 jobs hit
Cineworld, the world’s second-biggest cinema chain, will close its U.K. and U.S. movie theatres this week, leaving as many as 45,000 workers unemployed, as it fights a coronavirus-related collapse in film releases and cinema-going.
Singapore ‘cruises to nowhere’ plan sparks virus fears
Singapore hopes to start “cruises to nowhere” in a bid to revive its coronavirus-hit tourism industry, but critics warned Monday against a risky move that could spark Covid-19 outbreaks. “The cruise industry was a large contributor to Covid outbreaks in several ports around the world,” she told AFP.
Toyota’s robotic butler will serve you from the ceiling | Popular Science
The Toyota Research Institute showed off some of the robotics work it has been doing over the past five years.
IMF coronavirus recovery: public investment could create millions of jobs
Governments should step up public investments to boost their economies after the massive shock from the coronavirus pandemic, the International Monetary Fund said on Monday. The global economy has been severely damaged by the health crisis with the services sector coming to a halt, many people fearing for their jobs, and governments experiencing soaring debt levels.
The end of the dollar’s exorbitant privilege | Financial Times
The riddle once posed in the 1960s by former French finance minister (eventually president) Valéry Giscard d’Estaing is about to be solved. Giscard bemoaned a US that took advantage of its privileged position as the world’s dominant reserve currency and drew freely on the rest of the world to support its over-extended standard of living.
Eurozone Deflation Will Push ECB To Act As Soon As December – Christophe Barraud
Canadians will pay the bill for COVID-19 in higher taxes — here’s how it will likely happen | The Star
Nobody is talking about raising taxes these days. Not with the country in the midst of a pandemic-induced recession that risks getting worse if the rising infection rate forces new lockdowns. Governments and central banks are focused on getting us through this and mitigating the long-term economic damage as best they can.
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The Money GPS is the most active, most informative channel in the financial world. Day after day, breaking down the data and making it easy to understand. This channel is not here to help build a portfolio, give stock picks, or financial advice. It’s simply data that is generally not found through conventional means.
The economy is in a different position today in 2020 than it was in 2019, that’s for sure. The stock market has continuously hit record highs and it hasn’t let up. Money, debt, margin continues to expand as well. Corporate profits are expected to not matter as more stock buybacks happen.
The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of The Duran.