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Economic Crisis Hits Americans as Millions Out of Job, Buildings Empty, More Wage Cuts Coming

ECONOMY OFF THE CLIFF — “I DON’T SEE A PROBLEM”

source / The Money GPS

The financial system has seen its fragility appear in September 2019. The Repo Crisis was covered up but ultimately for those paying attention, this should have been a signal. The Fed can’t actually prevent a crisis. It’s the perception that they can that calms the market. But if the Fed is unable to convince the market of that, the crutch will be pulled from under them. Not good.

 

SEC.gov | SEC Charges Robinhood Financial With Misleading Customers About Revenue Sources and Failing to Satisfy Duty of Best Execution

SEC Charges Robinhood Financial With Misleading Customers About Revenue Sources and Failing to Satisfy Duty of Best Execution

FOR IMMEDIATE RELEASE 2020-321 The Securities and Exchange Commission today charged Robinhood Financial LLC for repeated misstatements that failed to disclose the firm’s receipt of payments from trading firms for routing customer orders to them, and with failing to satisfy its duty to seek the best reasonably available terms to execute customer orders.

US jobless claims rise to 885,000 amid resurgence of virus

US jobless claims rise to 885,000 amid resurgence of virus

WASHINGTON (AP) – The number of Americans applying for unemployment benefits rose again last week to 885,000, the highest weekly total since September, as a resurgence of coronavirus cases threatens the economy’s recovery from its springtime collapse. The Labor Department said Thursday that the number of applications increased from 862,000 the previous week.

Assets: Total Assets: Total Assets (Less Eliminations from Consolidation): Wednesday Level (WALCL) | FRED | St. Louis Fed

Assets: Total Assets: Total Assets (Less Eliminations from Consolidation): Wednesday Level

Source: Board of Governors of the Federal Reserve System (US) Release: H.4.1 Factors Affecting Reserve Balances Units: Frequency: Suggested Citation: Board of Governors of the Federal Reserve System (US), Assets: Total Assets: Total Assets (Less Eliminations from Consolidation): Wednesday Level [WALCL], retrieved from FRED, Federal Reserve Bank of St.

Hardly Anyone Is Actually Inside Wall Street’s Big Office Towers – Bloomberg

https://www.bloomberg.com/news/articles/2020-12-17/hardly-anyone-is-actually-inside-wall-street-s-big-office-towers?srnd=premium-canada

NYC Hotel Bust Means Even $1,000 Rooms Aren’t Profitable – Bloomberg

https://www.bloomberg.com/news/articles/2020-12-17/holiday-season-darkens-for-nyc-hotels-with-shutdown-risk-looming?srnd=premium-canada

DoorDash (DASH) Stock Sinks After Citron Calls IPO ‘Most Ridiculous’ of 2020 – Bloomberg

https://www.bloomberg.com/news/articles/2020-12-17/doordash-sinks-after-citron-calls-ipo-most-ridiculous-of-2020

Work From Home: Tech Companies Cut Pay of Workers Moving Out of Big Cities – Bloomberg

https://www.bloomberg.com/news/features/2020-12-17/work-from-home-tech-companies-cut-pay-of-workers-moving-out-of-big-cities?srnd=premium-canada

Swiss Dismiss U.S., BOJ to Extend Aid, Pay-Cut Pointer: Eco Day – Bloomberg

https://www.bloomberg.com/news/articles/2020-12-17/swiss-dismiss-u-s-boj-to-extend-aid-pay-cut-pointer-eco-day?srnd=premium-canada

Coca-Cola to Cut 2,200 Jobs – WSJ

Coca-Cola to Cut 2,200 Jobs

Coca-Cola Co. said it is cutting 2,200 jobs globally, including 1,200 in the U.S., as the coronavirus pandemic accelerates the soda giant’s restructuring efforts. The Atlanta company, which had about 86,000 employees at the start of the year, has been trimming expenses and products amid the closures of restaurants, bars, movie theaters and sports stadiums that sell its drinks around the world.

StockX Raises $275 Million in Series E Funding Round

StockX Raises $275 Million in Series E Funding Round

Led by Tiger Global Management, LLC with new participation from Altimeter Capital, Sands Capital, and Whale Rock Capital Management, the raise marks the largest VC funding round in Michigan history and brings the total funds raised to $490 million.

South Carolina Legislature Online – Bill Search by Bill Number

South Carolina Legislature Online – Bill Search by Bill Number

H 3377 General Bill, By Jones Summary: Not yet available A BILL TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING ARTICLE 17 TO CHAPTER 1, TITLE 1 SO AS TO PROVIDE THAT GOLD AND SILVER COINS MINTED FOREIGN OR DOMESTIC SHALL BE LEGAL TENDER IN THIS STATE, AND TO PROVIDE THAT NO PERSON MAY COMPEL ANOTHER PERSON TO TENDER OR ACCEPT GOLD OR SILVER COIN UNLESS AGREED UPON BY THE PARTIES.

The ‘Fake Wealth’ Industry Making Influencers Look Rich

The ‘Fake Wealth’ Industry Making Influencers Look Rich

Pretending you were gifted those trainers might be the reason you’re not an influencer.

A New Satellite Can Peer Inside Buildings, Day or Night

A new satellite can peer inside some buildings, day or night

A few months ago, a company called Capella Space launched a satellite capable of taking clear radar images of anywhere in the world, with incredible resolution. It can even see inside some buildings, including spotting airplanes inside hangars – though only in the case of lightweight structures, the company clarified, and not dense ones like high rises or residential homes.


The financial system is seeing a major change in 2020. With more investment in tech stocks, people are asking which tech stocks should [I] buy? More cash, debt, money is flowing into equities.


— APPENDICES —

— The Money GPS: Aim Higher (Instagram Dec 17, 2020)

— The Money GPS: Never lose money (Instagram Dec 16, 2020)

— The Money GPS: Master one thing before moving on. Know where you are in the cycle. (Instagram Dec 15, 2020)

— The Money GPS: Be a better investor | How to be a better investor. Window shop! (Instagram Dec 12, 2020)


— FOOTNOTES —

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Wake up to the suits and ties. They’re all lying to you. None are your friends. None wish to help you. Wolves in sheep clothing. More distractions than ever before. The magician always makes a spectacle to hide the trick.

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IF THEY WILL FIGHT OVER PLAYSTATION…What would they do for food? #ps5 #PlayStation5 #playstation #ps5fight #walmart pic.twitter.com/hbimVKzeta

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We live in a fantasy land. More money flowing in than ever before, IPO frenzy, housing skyrocketing. Euphoria never end well. The higher it goes the worse it will be. Slow and steady growth is much safer. #money #investments #debt


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How To Fix the Economy – Media
How To Fix the Economy – Overseas Investment


No Title

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Sources Used in This Video: http://bit.ly/TheMoneyGPSSources2020


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.

#money #finance #invest

 

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David Bowlas
David Bowlas
December 24, 2020

And you Americans believe all you hear from the likes of Rachel Madcow. She is making millions while you numbnuts are having problems keeping your kids fed.

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