U.S. gives China 72 hours to shut Houston consulate, Trump says other closures 'always possible'- Reuters--7.22.20
The United States has given China 72 hours to close its consulate in Houston amid accusations of spying. This marks a dramatic deterioration in relations between the U.S. and China. Communist Party rulers in Beijing were considering shutting down the U.S. consulate in Wuhan in retaliation.
US dollar to weaken as coronavirus recovery forges ahead- Fox Business--7.20.20
The U.S. dollar is set to fall even further as it sees a four-week losing streak, its longest in nearly one and a half years. A resurgence in new COVID-19 infections has put the pace of the U.S. recovery in limbo.
‘Don’t get greedy’ — Mark Cuban warns investors of stock similarities to 1990s dot-com bubble- Market Watch--7.20.20
Billionaire Mark Cuban is comparing the stock market's big run-up to the 1990s tech frenzy. According to Cuban, "everyone is making money right now" and people are interested in the stock market who were never interested before.
Debt fatigue, not coronavirus, is destroying America- The Hill--7.16.20
The U.S. is experiencing its worst crisis since WW1. The crisis destroying American right now is debt fatigue. Over the past half century, governments at all levels have experiences debt fatigue.
Decade of the Dollar at Imminent Risk as Uptrend Break Looms- Yahoo! Finance--7.16.20
The U.S. dollar slump is threatening to come to an end in its near-decade-long uptrend against major peers. A growing chorus of commentators are calling for the dollar to decline as the global economy attempts to recover from the impact of the pandemic.
The coronavirus pandemic could lead to Social Security cuts happening sooner than you think- USA Today--7.16.20
Individuals may not be able to rely on their monthly social security checks as much in the future. The program is not on the verge of collapse, but there are few signs that benefit cuts are on the table.
U.S. budget deficit hits all-time high of $864 billion in June- CNBC--7.13.20
The federal government has incurred the biggest monthly budget deficit in history. The Treasury Department reported Monday that the deficit hit $864 billion last month, an amount that surpasses most annual deficits in the nation's history.
Federal Reserve's $3 trillion virus rescue inflates market bubbles- Reuters--7.13.20
The Fed's $3 trillion bid to ward off an economic crisis in response to the coronavirus outbreak is fueling excesses across U.S. markets.
A cash cliff spells trouble for U.S. unemployed, and everyone else- Reuters--6.29.20
Emergency benefits for Americans during the pandemic are expiring in July, leaving many worried about the future. Without new support, recipients face a substantial loss of income.
US GDP fell at 5.0% rate in Q1; worse is likely on the way- AP--6.25.20
The U.S. economy shrank at a 5.0% rate in the first quarter and an even worse performance is expected in the current three-month period as the coronavirus pandemic spreads across the U.S.
41% of businesses closed on Yelp have shut down for good during the coronavirus pandemic - Market Watch--6.25.20
Many American states have been slowly reopening their economies, but thousands of businesses are still closed, and many of them for good. As of June 15, 140,000 businesses listed on Yelp remained closed due to the coronavirus pandemic.
Stocks slide on Wall Street as new coronavirus cases surge- AP--6.24.20
The S&P 500 skidded 2.6% on Wednesday as new coronavirus cases in the U.S. climbed to the highest level in two months, dimming investors' hopes for a quick economic turnaround.
U.S. to hit Japan-like levels of government debt by 2050, budget group says - Market Watch--6.24.20
The level of U.S. government debt red ink is set to explode to more than twice the size of the entire economy, according to one prominent anti-deficit group.
The decline of the U.S. dollar could happen at ‘warp speed’ in the era of coronavirus, warns prominent economist Stephen Roach - Market Watch--6.23.20
One expert is forecasting a sharp deterioration of the U.S. dollar and believes it could be a very near-term phenomenon. The comments come as the expert has been warning for weeks of an epic downturn of the dollar that could signal the end of the hegemony of the greenback as a reserve currency.
When the stock market is this overvalued, it is usually lower 12 months later- CNBC--6.23.20
The stock market could be in some trouble after its historic surge as valuations become increasingly elevated, according to data compiled by RBC Capital Markets. RBC's data shows the market tends to fall over the next 12 months when valuations are this high.
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