The economic situation is not one which looks positive for the foreseeable future. Many of the current issues, like the lack of a solution for jobs, just won’t come about in 2020. Stimulus measures are not solutions of course and must eventually be paid back. Knowing that higher taxes is the only way to wind down the amount of debt in place, economic growth which was already trending down, is sure to slow even further. But don’t let me try and convince you. Look at the data itself.
Why some states are struggling to pay unemployment benefits
The ‘black hole’ of unemployment benefits: Six months into the pandemic, some are still waiting for aid
For an instant, luck seemed to change for Sam Fornasiero. The 21-year-old’s phone call was put on hold – a noteworthy improvement relative to the 2,000-plus prior attempts to reach New Jersey’s unemployment bureau, by his estimation. The call went dead after a half hour of waiting.
COVID-19: Protecting workers in the workplace: COVID-19 leads to massive labour income losses worldwide
GENEVA (ILO News) – The devastating losses in working hours caused by the COVID-19 pandemic have brought a “massive” drop in labour income for workers around the world, says the International Labour Organization (ILO) in its latest assessment of the effects of the pandemic on the world of work.
[ILO Monitor: COVID-19 and the world of work. Sixth edition Updated estimates and analysis] wcms_755910.pdf
It’s too risky to put new money in stocks: Wells Fargo’s Chris Harvey
The man in charge of building investment strategy for Wells Fargo Securities won’t put new money to work in stocks right now. Christopher Harvey believes the market is too vulnerable to another correction and a 50% surge in volatility.
The Sell-Off Is Overdone. The Correction May Not Be. 09-25-20 – RIA
In this issue of “The Sell-Off Is Overdone. The Correction May Not Be.” “Policies, Not Politics.” Join Richard Rosso, CFP, and Danny Ratliff, CFP, for an in-depth look at both party’s platforms and how upcoming changes could affect your retirement, social security, medicare, and how you invest.
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Market volatility prompts investors to seek out long-short equity | Reuters
LONDON, NEW YORK (Reuters) – Stretched valuations and the resulting pullback in equities have prompted more interest in long/short fund strategies that can provide some protection against market declines and wild swings, hedge fund and asset managers say. The S&P 500 index is down nearly 10% from its Sept.
San Francisco housing: Suburbs red-hot, but city still in demand
Greg Tribulato is having trouble getting buyers interested in two extensively renovated condominiums he’s trying to sell in San Francisco’s Mission district. They’ve been on the market for three months. The one with two bedrooms is going for $1.5 million, and the four-bedroom unit costs $2.3 million.
Ex-Deutsche Bank Gold Traders Found Guilty in Spoofing Trial
(Bloomberg) — Federal prosecutors behind a sweeping crackdown on market “spoofing” scored a big win Friday after a Chicago jury convicted former Deutsche Bank AG traders Cedric Chanu and James Vorley of fraud for manipulating gold and silver prices.
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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 has accelerated in 2020 as we watch tech stocks rising higher in a short period of time. The financial companies have not done so well. Low interest rates, debt, and mortgages are all here, interconnected.
The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of The Duran.