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There is no chance in a restoration of the previous economy. It was already weak as it was but this is just too much. We have seen tremendous weakness in 2020 in the economy, only kept barely alive by a record level of stimulus which cannot fix actual problems. As a result, we are looking at a decimation of the mom and pop shops, the consolidation of big corporations, and the rise of the remaining few. The economy will never be the same again.
City Without a Pulse – POLITICO
ATLANTIC CITY, N.J. – The boardwalk is empty, the beaches are deserted, and the casinos, though partially reopen, are limping into their fifth month of severely curtailed operations after four months of shutdowns. The coronavirus pandemic skewered the economic engine of this beachside town, taking the city’s vibrancy and its residents’ livelihoods out with it.
On Tennyson Street in Denver, mom-and-pop shops are dying amid Covid-19
DENVER – When Covid-19 hit the U.S. in March, revenue at Alyssa Manny’s yoga studio fell 60 percent to 70 percent. And it wasn’t just her. Nearly every business on Tennyson Street, in a gentrifying neighborhood about 15 minutes from downtown Denver, was hit hard by the pandemic.
Despite federal ban, renters still being evicted amid virus
BOSTON (AP) – A nationwide eviction ban was supposed to protect tenants like Tawanda Mormon, who was forced out of her two-bedroom apartment last month in Cleveland. The 46-year-old, who was hospitalized in August for the coronavirus and can’t work due to mental health issues, said she fell behind on her $500-a-month rent because she needed the money to pay for food.
Hawaii seeks to be seen as a remote workplace with a view
HONOLULU (AP) – Software engineer Raymond Berger begins his work day at 5 a.m., before the sun comes up over Hawaii. Rising early is necessary because the company he works for is in New York City, five hours ahead of Maui, where he is renting a home with a backyard that’s near the beach.
Almost one-third of small businesses in New Jersey have have closed: report | TheHill
A third of small businesses in New Jersey have closed down in 2020, according to a report from The Star-Ledger newspaper. “It’s really bad… And without federal dollars coming into New Jersey, the Main Street stores and other establishments are not gonna make it through the winter.”
“Actual” Inflation Is Rising During The Recession
“Actual” consumer price inflation is rising during the recession. That runs counter to the normal recessionary pattern when the combination of weak demand and excess capacity works to lessen inflationary pressures. The main source of faster consumer price inflation is centered in the housing market. The Case-Shiller
Market Risk Elevated Heading Into Distribution Season 11-27-20 – RIA
In this issue of “Market Risk Elevated Heading Into Distribution Season.” I wanted to take a moment to say “Thank You” for your loyal readership of our newsletter. I have produced a form of this newsletter for almost 20-years. It’s incredible to see some of the same readers from the beginning.
The financial system has seen more enthusiasm as interest rates have declined. More debt has been present on all levels. Personal debt like credit cards and mortgages. But also national debt and corporate debt. We are seeing more purchases of stocks, tech stocks.
— APPENDICES —
- The Money GPS: The Broken Economy Leaving Millions Without A Job! Economic Crisis or Opportunity?
- The Money GPS: BIS Central Banker Admits EPIC Level Crisis Is the Most Likely Result of Global Mass QE
— FOOTNOTES —
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.
Hmmmm…What do you think about this? pic.twitter.com/M87q3TLzv9
JANET YELLEN MIGHT BE BACK. Anyone suggesting government took over the Fed and not the other way around needs to wake up. Fed gained more control. Even Bloomberg admits it. The revolving door and the control over the public is very evident to those paying attention. #janetyellen pic.twitter.com/2lHmrIHw0T
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