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Why the Global Economy CAN’T Recover! More Job Cuts, Recession, and Rapidly Growing Debt

GLOBAL ECONOMIC ROT.

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This is the global economic rot. A world in which most cannot escape. There has been an attempted rescue of the financial system from the Repo actions of the Fed, the excessive money printing, and on the economic side, we watch as governments go further and further into debt to try and fill the holes in this proverbial boat. Sadly, this is all just a cover for a massive transfer of wealth and control to the globalist elite.

 

US, China, India, Europe can’t save global economy from recession – Business Insider

No one is coming to save the global economy this time

During the financial crisis, two countries kept the global economy from cratering even further than it did – China and India. Unfortunately this time around – in the economic crisis caused by the corornavirus pandemic – no country is coming to save us.

The coming wave of defaults | TheHill

The coming wave of defaults

With COVID-related income supplements and unemployment benefits now expired or reduced, we face a new wave of mortgage and rental delinquencies, many of which will come in the next few months. According to the Mortgage Bankers Association, as of June 30, mortgage delinquency in the U.S.

Automotive’s new reality: Fewer trips, fewer miles, fewer cars?

Click to access automotives-new-reality.pdf

The average credit card interest rate by credit score and card – Business Insider

The average credit card interest rate by credit score and card

The average credit card interest rate in the US is 14.52%, according to data from the Federal Reserve. The type of credit card you plan to get and your credit score will affect the total amount of interest you could pay if you carry a balance on your credit card.

Capital One Cuts Card Limits Amid U.S. Jobless-Aid Impasse – Bloomberg

https://www.bloomberg.com/news/articles/2020-08-28/capital-one-cuts-card-limits-amid-u-s-impasse-on-jobless-aid?srnd=premium

Tech Shares Roil Market as Stocks Fall for Second Week – WSJ

Tech Shares Roil Market as Stocks Fall for Second Week

U.S. stocks capped off a topsy-turvy trading session with a second straight week of declines, continuing a stretch of volatility that many say is a bellwether for the autumn months. Gyrations in highflying tech stocks have injected volatility into the broader market, a rapid about-face after a summer where U.S.

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About derivatives statistics

About derivatives statistics

These statistics cover derivatives traded on organised exchanges, outstanding positions in over-the-counter (OTC) derivatives markets, and turnover in foreign exchange and OTC interest rate derivatives markets. Together, they provide comprehensive measures for the size and structure of global derivatives markets. OTC derivatives notional amount outstanding by risk category

The Big Corporate Rescue and the America That’s Too Small to Save

The Big Corporate Rescue and the America That’s Too Small to Save

ProPublica is a nonprofit newsroom that investigates abuses of power. Sign up to receive our biggest stories as soon as they’re published. On a recent Thursday evening in downtown Chagrin Falls, a Cleveland suburb named for a picturesque cascade in a nearby river, little was amiss: Diners in loafers and sundresses dropped off their BMWs and Alfa Romeos with valets before positioning themselves on patios at prudently spaced tables.

Department Store Century 21 Files Bankruptcy, Will Shut Down – Bloomberg

https://www.bloomberg.com/news/articles/2020-09-10/department-store-century-21-files-for-bankruptcy-will-shut-down

Las Vegas Monorail Company files for Chapter 11 bankruptcy | Las Vegas Local Breaking News, Headlines | fox5vegas.com

Las Vegas Monorail Company files for Chapter 11 bankruptcy

LAS VEGAS (FOX5) — The Las Vegas Monorail Company filed for Chapter 11 bankruptcy, the company announced Monday. According to a statement to media, the company “filed a voluntary petition for protection under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of Nevada.”

GameStop Will Close at Least 400 Stores This Year | Game Rant

GameStop Will Close at Least 400 Stores This Year

Amidst massive Q2 losses due to Covid-19, Gamestop has increased the number of stores it plans to close by the end of the current fiscal year. Gamestop’s woes continue, as the company has announced the closure of a total 400 stores by the end of fiscal year 2020.

Delta Air Lines to furlough 1,941 pilots in October, according to internal memo

Delta Air Lines to furlough 1,941 pilots in October, according to internal memo

Delta Air Lines is set to furlough 1,941 pilots in October, the carrier said in a memo seen by Reuters on Monday that noted the fallout from the COVID-19 pandemic and plunging air travel demand. In a memo to pilots, Delta’s head of flight operations John Laughter said there were roughly 11,200 active pilots still on Delta’s roster after a voluntary early departure program.

Singapore Air Cuts 20% of Workforce as Virus Smashes Travel – Bloomberg

https://www.bloomberg.com/news/articles/2020-09-10/singapore-airlines-plans-to-slash-a-quarter-of-workforce

Ford wants to cut 1,400 jobs through voluntary retirement: What we know

Ford wants to cut 1,400 salaried jobs in U.S.: Who is targeted

Ford Motor Company alerted its employees early Wednesday during a weekly virtual global meeting that the automaker plans to trim its headcount by 1,400 salaried workers by offering them an opportunity to retire this year if they meet certain qualifications.

Amtrak tells employees it will furlough 1,950 workers | Trains Magazine

Amtrak tells employees it will furlough 1,950 workers

Amtrak will furlough approximately 1,950 of its unionized workers as part of cutbacks for fiscal 2021, according to a message sent to workers today and obtained by Trains News Wire. Additionally, approximately 100 managerial positions will be eliminated. The largest portion of those, 698 employees, will come from on-board staff represented by the Amtrak Service Workers Council.

Retail Store Databank | Coresight Research

Retail Store Databank | Coresight Research

This chart shows the number of major retail store openings, store closures and net store openings in the US from 2012 to 2020 YTD, by retail sector. For more information on specific sectors, please select from the dropdown list. Sector:


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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 global economy and stock market have behaved very differently in 2020. We have seen the stock market rising considerably. We have watched the equities, bonds, ETF’s all seeing massive inflows of cash, currency, money, debt.

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