We have entered a new territory. The financial system is rotten to the core. It cannot be salvaged. Governments and empires have always done this. They debase the coinage. They devalue the currency. They ruin your savings. Those who own real assets, and have generational wealth, are able to persist and thrive. The majority will suffer. There is no restoration of previous systems, despite what you’ve been told. There is only a small group of people controlling the public and they will always continue to dominate.
U.S. planned job cuts increase in September: report | Reuters
Does Jobs Report Even Matter Anymore?
(Bloomberg Opinion) — The U.S. employment report that is usually released on the first Friday of every month has traditionally been viewed as the most important piece of economic data. No longer. The Federal Reserve’s new monetary policy regime has relegated jobs data to the back burner while thrusting
Half of Americans over 55 may retire poor – MarketWatch
How badly is COVID-19 hurting Americans on the cusp of retirement? Maybe worse than we thought. In an interview, economist Teresa Ghilarducci, a professor at The New School in New York City and one of the nation’s leading experts on retirement, told me that half-that’s right, half-of Americans aged 55 and up will retire in poverty or near poverty.
Swiss city Geneva to introduce a minimum wage of over $4,000 a month
The Swiss city of Geneva is to introduce a minimum wage of 23 Swiss francs ($25) an hour, equal to roughly 3,772 Swiss francs ($4,100) a month for a 41-hour working week. Nearly two-thirds of the canton of Geneva on Sunday voted in favor of introducing the minimum wage, which is reported to be the highest in the world.
Top Filmmakers Warn Congress That Movie Theaters Face Extinction | Hollywood Reporter
Macau Sees Little Sign of Recovery as Gaming Revenue Falls 90% – Bloomberg
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Special Report: COVID-19’s Impact on Hunger in New Jersey – CFBNJ
On September 30, the Community of New Jersey (CFBNJ) released a special report about the impact of COVID-19 on in New Jersey. The report, titled uses statistical projections from Feeding America to anticipated increases to food insecurity across the state in 2020 and advance recommendations for the public and nonprofit sectors to address this urgent need.
City of Los Angeles 2019-2020 Homeless Encampments | Open The Books
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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 financial system is quite different from 2019. In 2020 we have seen the VIX index relatively high compared to the stock market. The stocks are quite high as more and [m]ore debt, margin, cash flow into equities. Bonds have been seeing less interest compared to tech stocks for example.
The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of The Duran.