The unbelievable rise of stocks has been unfazed throughout this period of trauma, of stress, and of ultimate chaos. Look around and the stats have ranged from below normal to absolutely horrible. What’s the solution? Growth. Growth will fix it all. And what we can’t grow out of, we’ll just add more taxation to fill those gaps. What a load of garbage. But I guess people are servants to their overlords anyway. They’ll accept what they’re given, regardless of how bad it gets. Just give them their Panem et Circenses, their bread and circus.
Black Knight’s First Look at July 2020 Mortgage Data
Mortgage delinquencies continued to improve in July, falling 9% from June, with more than 340,000 fewer past due mortgages than in the month prior Early-stage delinquencies – loans with a single missed payment – have fallen below pre-pandemic levels, suggesting that the initial inflow of new COVID-19-related delinquencies has subsided
Mortgage delinquencies are on the rise – The Washington Post
Overall mortgage delinquency numbers are improving, but the delinquency rate for homeowners who are seriously behind in their payments is soaring, another indication of a bifurcated housing market. The number of borrowers delinquent on their mortgages fell by 340,000 in July, a 9 percent drop from June, according to data released Friday by Black Knight, a mortgage data and technology company.
Bubble Watch: 5.5% of mortgages in California are delinquent – Orange County Register
Buzz: An estimated 5.5% of all first mortgages in California were delinquent in July. Source: Black Knight’s tally of skipped mortgage payments counts all homeowners tardy on payments whether they are in forbearance plans or not. The Trend California delinquencies have risen from 1.8% in February.
American Airlines is cutting 19,000 jobs when federal aid expires in October
American Airlines will cut 19,000 employees in October when federal aid that protected those jobs expires and as the coronavirus pandemic continues to devastate travel demand, the carrier said Tuesday. The Fort Worth, Texas-based airline, which employed more than 140,000 people in March, is prohibited from laying off workers through Sept.
More Than Half Of San Francisco Storefronts Closed Due To Pandemic – CBS San Francisco
SAN FRANCISCO (KPIX) – More than half of all storefronts in San Francisco are no longer in business due to COVID-19, according to the survey by the San Francisco Chamber of Commerce. “The survey showed only 46 percent of storefront businesses in San Francisco that were open at the beginning of the pandemic are still operating,” said Jay Cheng, spokesman of the San Francisco Chamber of Commerce.
The Great Inflation Debate Is Heating Up With Trillions at Stake – Bloomberg
Winter is coming — and restaurants are scrambling – CNN
For months, restrictions on indoor dining have forced restaurants across the country to rely on outdoor seating to survive. But as the weather gets colder, that lifeline is going away.
Inflation will become a serious headwind on a vaccine: Peter Boockvar
As U.S. makes progress on the virus front, Peter Boockvar predicts inflation will become a serious headwind – with or without Fed involvement
With or without the Federal Reserve’s involvement, Peter Boockvar of the Bleakley Advisory Group sees signs inflation is making a comeback. His call comes two days before Fed Chair Jerome Powell is scheduled to deliver a key policy speech at this week’s virtual Jackson Hole event.
One in Three Cars Worldwide Is Produced in China – 22664.jpeg (1200×1629)
Condo Supply Soars in Greater Downtown Miami
The supply of unsold condos is growing in downtown Miami, as the pandemic continues to pummel South Florida’s economy. Greater Downtown Miami has more than 30 months – or two-and-a-half years – of supply of condos, and 100 months – or more than eight years – of supply of luxury units, according to an analysis of Multiple Listing Service data by Condo Vultures Realty.
N.J. Budget’s $1 Billion in New Taxes Targets Millionaires – 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 financial issues from 2008 never ended. In fact in many ways they are worse. They will tell you the same line over and over again “The banks are more capitalized today” and everyone just goes back to sleep. But what they don’t realize is that they just created new schemes to try and make profit.
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