Every empire falls. It does this largely because of its own failures. It crumbles from within as more corruption and greed consume it in haste. More people are jumping onto the pile, pushing their savings into the stock market. Many inexperienced traders are rushing to buy leveraged positions in technology stocks which have completely taken over. The question is, if the Fed never takes away the punch bowl, will the party ever stop?
Airlines are now selling tickets for scenic ‘flights to nowhere’
They take off and land at the same airport, but for some jetsetters, these ‘flights to nowhere’ are enough. The Association of Asia Pacific Airlines says because of the coronavirus pandemic, there has been a 97.5 percent drop in international travel in the region.
Airlines Make Final Plea for Aid to Avoid Job Losses – WSJ
Top executives at major airlines including American Airlines Group Inc., Southwest Airlines Co. and United Airlines Holdings Inc. met Thursday with White House chief of staff Mark Meadows as the companies and their employees make a final push for more job-saving government aid.
Jim Cramer on how to invest if Congress approves coronavirus stimulus
CNBC’s Jim Cramer said Thursday that investors will want to have money in the stock market if Congress approves another coronavirus relief bill. “If we get a stimulus package and you’re out of the market, you will feel awful,” Cramer said on “Squawk on the Street.”
Nearly half of NYC’s top earners considered relocating: poll
Nearly half of New York City residents earning six figures or more have considered fleeing the Big Apple during the coronavirus crisis over cost-of-living concerns, according to a new poll. Researchers with the Siena College Research Institute and Manhattan Institute surveyed 782 city dwellers making $100,000 or more about life in the age of COVID-19.
Deal Reached in N.J. for ‘Millionaires Tax’ to Address Fiscal Crisis – The New York Times
Gov. Philip Murphy said the tax would help make up shortfalls caused by the pandemic, but Republicans warned it would lead to an exodus of wealthy residents. New Jersey officials agreed on Thursday to make the state one of the first to adopt a so-called millionaires tax to alleviate shortfalls caused by the pandemic, intensifying a national debate over whether to increase taxes on the rich to help address widening income gaps.
BlackRock, the world’s largest asset manager, may never be 100% back in the office, CEO Fink says
As work from home stretches on, BlackRock CEO Larry Fink said he doesn’t ever foresee all employees returning to the office. “I don’t believe BlackRock will be ever 100% back in office,” he said Thursday at the Morningstar Investment Conference. “I actually believe maybe 60% or 70%, and maybe that’s a rotation of people.
U.S. weekly jobless claims total 860,000, vs 875,000 expected
First-time claims for unemployment insurance beat Wall Street estimates last week as the U.S. economy enters a critical new stage. Filings totaled 860,000 for the week ended Sept. 12, the Labor Department reported Thursday. Economists surveyed by Dow Jones had expected 875,000, against the previous week’s upwardly revised 893,000.
Bank of England eyes sub-zero rates in face of virus, Brexit
LONDON – The Bank of England indicated Thursday that it could cut interest rates below zero for the first time in its 326-year history as it tries to shore up a U.K.
Monetary policy summary and minutes of the Monetary Policy Committee meeting ending on 16 September 2020
Deutsche Bank Spoofer Tells Jury His Bosses Showed Him How – Bloomberg
Ex-JPMorgan Trader Convicted for Helping Rig Currency Market – Bloomberg
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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 stock market continues to rise and the bond market is sending important signals. We have seen much cash, currency, debt flowing into the markets. The corporate debt is an issue as well as the commercial and retail real estate. Low interest rates.
The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of The Duran.