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Unsold U.S. Hotel Rooms Near 1 Billion! Financial System Hidden Risk With Debt Fiasco

GLOBAL DEBT GAMBLE

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There are many potential catalysts at this point in time which could lead to an unraveling. Nobody knows what will be the cause but where there is risk, there is fragility, and where there is fragility there will be failure. Right now, commercial property stands to lose the most. Iconic hotels which have remained open for decades have gone under. Retail properties are shutting down rapidly. And the prospects of returning to the previous state of business travel and general need for massive office towers has now been reduced. This should be front and center on everyone’s radar, going into 2021.

 

Unsold U.S. Hotel Rooms Near 1 Billion as Lodging Crisis Deepens

Unsold U.S. Hotel Rooms Near 1 Billion as Lodging Crisis Deepens

Bloomberg 3 days ago Patrick Clark (Bloomberg) — As spiking Covid-19 cases further derail travel, the U.S. hotel industry is closing in on a bleak marker: One billion empty rooms for the year. More than 962 million room nights have gone unsold through last week, according to lodging data firm STR.

63% of Americans have been living paycheck to paycheck since Covid hit

63% of Americans have been living paycheck to paycheck since Covid hit

Nearly two-thirds of Americans, 63%, say they’ve been living paycheck to paycheck since the Covid-19 pandemic hit the U.S. earlier this year. That number has been increasing since March, according to a survey fielded in October of roughly 2,000 U.S. adults by information technology company Highland Solutions.

Federal Government Spending Nearly Twice as Much As Its Taking In – Nextgov

Federal Government Spending Nearly Twice as Much As Its Taking In

Two months into fiscal 2021, the federal government has spent nearly twice as much money as it has taken in through revenue after posting a 14th consecutive month of deficit spending. According to the Treasury Department spending data released Dec.

Federal Spending Sets Record Through November; Deficit Second-Highest Ever | CNSNews

Federal Spending Sets Record Through November; Deficit Second-Highest Ever

(Photo by Doug Mills-Pool/Getty Images) (CNSNews.com) – The federal government spent a record $886,587,000,000 in the first two months of fiscal 2021 (October and November), according to the Monthly Treasury Statement released today. At the same time, the federal government ran a deficit of $429,337,000,000, which is the second highest deficit the federal government has ever run in the first two months of a fiscal year.

COVID-19 Pandemic Driving Homelessness In NYC To Record Levels, Advocates Say – CBS New York

COVID-19 Pandemic Driving Homelessness In NYC To Record Levels, Advocates Say

NEW YORK (CBSNewYork) – The Big Apple has hit a grim milestone when it comes to the homeless crisis. A new report from homeless advocates says COVID-19 has helped propel the shelter population to record numbers, CBS2’s Andrea Grymes reported Wednesday. The advocates call the numbers “astronomical.”

(1) Million-dollar mortgages common now in the GTA | Watch News Videos Online

Million-dollar mortgages common now in the GTA | Watch News Videos Online

2020 has been an up, down, and up year for real estate in the Greater Toronto Area. When the pandemic began, demand for properties dropped. By spring, that had been a turnaround. Now, as Seán O’Shea reports, prices are up and so is debt load as brokers are seeing more million-dollar mortgages than ever.

Property Boom Drives Pandemic Surge in Canada Household Wealth – Bloomberg

https://www.bloomberg.com/news/articles/2020-12-11/canadian-households-see-a-mid-pandemic-surge-in-wealth

Subzero-Rates Club Swells With Spanish Debt and Australian Bills – Bloomberg

https://www.bloomberg.com/news/articles/2020-12-10/australia-gets-paid-to-borrow-in-first-sale-at-negative-yields

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China sells first sovereign bond at negative interest rate, taking advantage of record low borrowing costs to raise capital | South China Morning Post

Getting paid to borrow? China sells bonds at negative interest rate

Investors have increasingly turned to Chinese debt in search of yield as the pandemic has extended a period of historically low interest rates globally and Beijing has moved to further open its US$16 trillion onshore debt markets to foreign investments.

Monetary policy decisions

Monetary policy decisions

The European Central Bank (ECB) is the central bank of the 19 European Union countries which have adopted the euro. Our main task is to maintain price stability in the euro area and so preserve the purchasing power of the single currency.

Pasadena Man Charged For Allegedly Buying Maserati With COVID Relief Money – CBS Los Angeles

Pasadena Man Charged For Allegedly Buying Maserati With COVID Relief Money

LOS ANGELES (CBSLA) – A Pasadena man is facing federal charges alleging he used stolen identities to fraudulently obtain unemployment insurance benefits, which he later used to purchase a Maserati luxury SUV. Robert Sloan Mateer, 30, was named on Dec.


The stock market has escalated to new heights as more money, cash, debt flow into stocks, equities. We have seen much influence from not just institutional investors, but retail investors more than ever before as trades, trade commissions have declined, lowering the barrier to entry.


— APPENDICES —

— The Money GPS: Be a better investor | How to be a better investor. Window shop! (Instagram Dec 12, 2020)


— FOOTNOTES —

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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.

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UNEMPLOYMENT RATE 6.7%.HAHAHAHAHA!.These people are hilarious! Good stuff. Thought you would enjoy a laugh in these dark times.. pic.twitter.com/hjXYiX3Y4a

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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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The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of this site. This site does not give financial, investment or medical advice.

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