PUBLISHED THU, MAY 21 2020 12:43 PM EDT By Robert Frank America’s billionaires saw their fortunes soar by $434 billion during the U.S. lockdown between mid-March and mid-May, according to a new report. Amazon’s Jeff Bezos and Facebook’s Mark Zuckerberg had the biggest gains, with Bezos adding $34.6 billion to his wealth and Zuckerberg adding $25 […]
Former Barack Obama adviser Rahm Emanuel, during a recent interview, reminded us of his 2008 financial crisis quotation, “Never allow a crisis to go to waste.” The COVID-19 pandemic has presented a wonderful opportunity for those of us who want greater control over our lives. Sadly, too many Americans have already taken the bait. We’ve […]
What happens when you have an auto glut that simply won’t go away? What do you do with all of those unsold cars? It’s a question we first explored way back in 2014 in an article called “Where the World’s Unsold Cars Go to Die”. In that piece, we highlighted images from around the world of various […]
There are just seven steps from pandemic declaration to permanent totalitarianism – and many jurisdictions are about to start Step 5 By Rosemary Frei As if it was planned in advance, billions of people around the globe are being forced step by rapid step into a radically different way of life, one that involves far […]
Courtesy of IHSMarkit’s energy vice president Roger Diwan How did you end up with negative oil prices today? This happens when a physical futures contract find no buyers close to or at expiry. Let me explain what that means: A physical contract such as the NYMEX WTI has a delivery point at Cushing, OK, & date, […]
24-Hour Fitness is also considering bankruptcy … this according to CNBC Neiman Marcus, one of the largest retailers of its kind in America, has hit the mat and can’t get up in the wake of the coronavirus pandemic, and the chain is reportedly ready to file for bankruptcy. Neiman’s 43 stores all shut down during […]
U.S. retail sales fell at a record pace in March, with many retail categories seeing jaw-dropping declines. And economists are scrambling to find the right words to illustrate the rapid deterioration of the U.S. economy, as the world attempts to deal with the deadly coronavirus pandemic. On top of this, the Small Business Bailout Fund is expected […]
By Emily Zanotti Speaker of the House Nancy Pelosi (D-CA), the architect behind Democrats’ decision to block $250 billion in additional funding to small businesses suffering because of coronavirus-related lockdowns, now says there’s “no data” to support an influx of emergency cash, even as banks are reaching their lending capacity due to unprecedented demand for […]
Small businesses will be able to access new loans starting Friday to help them stay afloat during the economic crisis wrought by the coronavirus. The $2.2 trillion coronavirus relief bill passed by Congress and signed by President Donald Trump established a $350 billion Paycheck Protection Program. “This relief will help stabilize the small business sector […]
By Noah Buhayar, Oshrat Carmiel, Nic Querolo Chuck Sheldon, a landlord and property manager in Albuquerque, New Mexico, has owned apartments for more than half a century. These days, he can barely keep up with all the moving pieces. He’s talking with owners of roughly 1,700 units he manages, who are worried what’s going to […]
