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REAL Wages Decline as Economy Worsens Despite Stimulus! Store Closures, Jobs Cuts

NOTHING WILL REMAIN.

source

There have been considerable changes in 2020, just from a year ago. We have watched the markets fall and rise. Many have wondered what tomorrow will bring. More questions than answers. More uncertainty. More volatility. But one [thing] is for certain, our currency will lose value against real goods thanks to reckless policies, designed to enrich a small group at the top.

 

The Jobless Fear Being In Dire Straits As Savings Start To Run Out : NPR

‘I’m Still Unemployed’: Millions In Dire Situation As Savings Start To Run Out

When the coronavirus pandemic hit this spring, government relief payments provided a life raft to millions of people who had been thrown out of work. That life raft, however, is now losing air, threatening to leave the unemployed in a perilous situation just as Washington leaders struggle to clinch a new package of aid ahead of the November election.

AP-NORC/SAP poll: 1 in 4 US workers have weighed quitting

AP-NORC/SAP poll: 1 in 4 US workers have weighed quitting

New York (AP) – The coronavirus pandemic has put millions of Americans out of work. But many of those still working are fearful, distressed and stretched thin. A quarter of U.S.

Coronavirus Pandemic Putting Damper on Holiday Shopping Season – WSJ

Coronavirus Pandemic Putting Damper on Holiday Shopping Season

The coronavirus pandemic is creating novel hurdles for Americans’ spending this holiday season, posing potential challenges for an economy that leans heavily on their willingness to consume. Households face the prospect of Halloween without trick or treaters, Thanksgiving without family travels, Black Friday without crowds, and a December without parties and in-person gift-giving.

Real wages to go backwards in 2021, warns Deloitte

Real wages to go backwards in 2021, warns Deloitte

Workers are unlikely to get a decent pay rise for years after the pandemic left the economy “shuttered and shattered”. New forecasts released by Deloitte Access Economics on Monday shows wages growing slower than inflation in 2021 and unemployment staying above 6 per cent until at least 2024.

The next economic crisis: Empty retail space – POLITICO

The next economic crisis: Empty retail space

There’s also the fear that directing significant relief to the industry would be seen as a “handout to the president’s friends” since Donald Trump made his fortune in commercial real estate, said one lobbyist frustrated with the lack of traction the issue is getting with policymakers.

INSIGHT-Time’s up: After a reprieve, a wave of evictions …

INSIGHT-Time’s up: After a reprieve, a wave of evictions expected across U.S.

By Michelle Conlin and Christopher Walljasper Oct 19 (Reuters) – On Sept. 1, U.S. health officials announced they would suspend evictions across the United States to help stem further spread of the novel coronavirus. That was three days too late for Latrise Bean. About 72 hours before the declaration by the U.S.

Store closures: twice the rate of last year as net decline now at highest level in five years

Store closures: twice the rate of last year as net decline now at highest level in five years

Due to COVID-19, this year’s data covers the period from January to August, with no fieldwork undertaken during the national lockdown. In later months, sites that had yet to re-open have not been counted as closed, and may be included in future surveys.

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Pentagon estimates cost of new nuclear missiles at $95.8B

Pentagon estimates cost of new nuclear missiles at $95.8B

WASHINGTON (AP) – The Pentagon has raised to $95.8 billion the estimated cost of fielding a new fleet of land-based nuclear missiles to replace the Minuteman 3 arsenal that has operated continuously for 50 years, officials said Monday. The estimate is up about $10 billion from four years ago.

Federal Reserve debates tougher regulation to prevent asset bubbles | Financial Times

Federal Reserve debates tougher regulation to prevent asset bubbles

Senior Federal Reserve officials are calling for tougher financial regulation to prevent the US central bank’s low interest-rate policies from giving rise to excessive risk-taking and asset bubbles in the markets. The push reflects concerns that the Fed’s ultra-loose monetary policy for struggling families and businesses risks becoming a double-edge sword, encouraging behaviour detrimental to economic recovery and creating pressure for additional bailouts.

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These Are the World’s Best (And Worst) Pension Systems in 2020 – Bloomberg

https://www.bloomberg.com/news/articles/2020-10-19/these-are-the-world-s-best-and-worst-pension-systems-in-2020

Miso Robotics Flippy robot on sale for $30,0000 – Business Insider

Flippy, the $30,000 automated robot fast-food cook, is now for sale with ‘demand through the roof’ – see how it grills burgers and fries onion rings

Miso Robotics’ kitchen robot, Flippy, just became available to purchase for $30,000. Flippy can cook 19 items, including burgers and hash browns. Flippy works as a kitchen assistant, moving along a rail. Visit Business Insider’s homepage for more stories.

Smoothie-making bot at Walmart signals the rise of the robot fast-food worker

Smoothie-making bot at Walmart signals the rise of the robot fast-food worker

You know that robots are going mainstream when they pop up in Walmart. That was the case for startup Blendid which debuted its fourth Bay Area location at the Fremont Walmart in California this week. The kiosk, open seven days a week, allows customers to place contactless orders for a 12-ounce smoothie, which will then be whipped up by an on-site autonomous robot.


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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.

Investors are asking what are the best tech stocks to buy in 2020. Many financial analysts are looking at different stocks in the tech sector but also in others. We are watching extreme valuations in growth stocks. The economy right now in 2020 is a very different scenario.

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Luka-the-K9
October 22, 2020

Of course the UK is suffering as we see here:

UK Column News – 21st October 2020

Luka-the-K9
October 22, 2020

Effectively the “western international community” has self destructed.

Meanwhile the global “south” and “east” watches in despair:

https://valdaiclub.com/multimedia/video/live-valdai-club-presents-its-annual-report-the-utopia-of-a-diverse-world-how-history-goes-on/

Another humanitarian disaster in Al-Hol camp

Landmark antitrust lawsuit: Justice Department says Google is an illegal monopoly