Is this rush for the exits going to turn into a stampede? Stock prices have been plummeting in recent days, and most of the talking heads on television have been blaming the declines on the COVID-19 pandemic. Yes, it is true that the number of confirmed cases in the...
Hardly anyone expected that things would get this bad in 2020. Once the pandemic hit and states all over the country started instituting lockdowns, economic activity collapsed dramatically. U.S. GDP was down 31.4 percent during the second quarter of 2020, and that...
The U.S. economy was supposed to be turning a corner by now, but instead it looks like we are headed for an exceedingly painful winter. All over the country, big companies are laying off thousands of workers, and in some cases the numbers are even larger than that. ...
A fully financialized, totally debt and speculation-dependent economy is terminal once leverage and debt stop expanding exponentially. We all know the movie scene in which the character is wounded but dismisses it as no big deal, and then lurches into the closing...
If Trump wants to make a comeback in the polls, he really needs to fully embrace an anti-lockdown message… Another wave of lockdowns has begun, and that is really bad news for the U.S. economy. The first wave of lockdowns resulted in the permanent closing of more...
The Saudis want to break free from U.S. influence and hedge their bets with China and the Russians
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