User: newstrust Topic: US Economy
Category: Financial Markets
Last updated: Sep 15 2020 23:29 IST RSS 2.0
 
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Extreme weather and permanent disaster zones will force a new American migration: research 15.9.2020 Raw Story
August besieged California with a heat unseen in generations. A surge in air conditioning broke the state’s electrical grid, leaving a population already ravaged by the coronavirus to work remotely by the dim light of their cellphones. By midmonth, the state had recorded possibly the hottest temperature ever measured on earth — 130 degrees in […]
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Our Capitalist Economy’s Dependence on Credit Is Driving Us Toward Fascism 12.9.2020 Truthout.com
Private capitalists and the top political circles in both major parties are merging into a dangerous political ...
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America’s fast-evolving credit system shows the transition to fascism is already under way 10.9.2020 Raw Story
Viewing the GOP convention seemed a little like binge-watching the last several years’ parade of none-too-subtle signs of incipient fascism. We saw extreme nationalism, scapegoating immigrants and foreigners in general, white supremacy, “strong (narcissistic)-man” government, aggressive foreign policies, and hysterical red-baiting. Those signs reflect how capitalism’s deepening crisis undermines both the center-left (Democrat) and center-right […]
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The Fed Invested Public Money in Fossil Fuel Firms Driving Environmental Racism 3.9.2020 Truthout.com
The Fed Reserve should not be propping up a dying industry with a track record of harming communities of ...
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ANATOMY OF A MAN-MADE DISASTER: 595 ways Trump has failed to protect us from COVID-19 30.8.2020 Raw Story
Crises have a way of sorting the good presidents from the bad. Historians rank Abe Lincoln and Franklin Delano Roosevelt among the top three presidents for their handling of the Civil War, the Great Depression, and World War II. By contrast, the string of catastrophes that trailed George W. Bush, from 9/11 to Iraq to Hurricane Katrina to his obliviousness to warning signs in the housing […]
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Corporate Landlords Get Big Tax Breaks. They Should Pay Rent Our During COVID. 22.8.2020 Truthout.com
The real estate industry, led by some of the richest people in the world, can't be allowed to exploit renters ...
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Three reasons stocks are soaring despite the coronavirus’ economic toll 13.8.2020 Chicago Tribune: Business
Why has Wall Street flourished while Main Street struggles? Credit Washington aid, Big Tech and market optimism about the future.
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Millions of Working Poor May Lose Out on EITC Benefits Due to Pandemic 5.8.2020 Truthout.com
Democrats push to reform the earned income tax credit in the next relief bill to make it like a basic income ...
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Tesla's insane stock price makes sense in a market gone mad 22.7.2020 LA Times: Business

Can Tesla and the stock market as a whole continue to defy gravity?

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The pandemic has exposed a disturbing fact about who the government helps most 16.7.2020 Raw Story
In January 2020, the NASDAQ stock market’s index stood just under 10,000. In the March crash, it fell to 7,000. As of July 10, 2020, it hit 10,600. The U.S. government’s economic policies produced a “recovery” for the rich who own the vast bulk of stocks. Their holdings are worth more now than before COVID-19 […]
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Largest bank in the US holds back $10 billion anticipating Americans won’t be able to pay their mortgage 14.7.2020 Raw Story
Last week it was revealed that nearly one-third of Americans couldn’t pay their mortgages or their rent. It’s the third month in a row with over 30 percent of American renters and homeowners showing that they’re in trouble, despite the stimulus check from Washington. Tuesday, the Wall Street Journal wrote that the largest bank in […]
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JPMorgan Chase hit hard by pandemic, sets aside billions to cover loan losses as consumers struggle 14.7.2020 Chicago Tribune: Business
JP Morgan Chase said it earned a profit of $4.69 billion, or $1.38 per share. That’s down 51% from a year ago. The results offer a glimpse into how badly the pandemic is impacting the financial health of American consumers and businesses.
This Treasury Official Is Running the Bailout. It’s Been Great for His Family. 2.6.2020 Truthout.com
Justin Muzinich’s ongoing ties to the family firm present a thicket of potential conflicts of ...
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This behind-the-scenes Trump Treasury official is running the bailout — and it’s been great for his family 2.6.2020 Raw Story
Federal Reserve Chairman Jerome Powell and Treasury Secretary Steven Mnuchin have become the public faces of the $3 trillion federal coronavirus bailout. Behind the scenes, however, the Treasury’s responsibilities have fallen largely to the 42-year-old deputy secretary, Justin Muzinich. A major beneficiary of that bailout so far: Muzinich & Co., the asset manager founded by […]
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Op-Ed: Coronavirus brought economic catastrophe. Here are 10 experts on how to recover 31.5.2020 LA Times: Opinion

Ten economists suggest remedies, ranging from aiding state and local governments, paying employers to keep workers and offering universal coronavirus testing to restore public confidence.

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We Must Respond to the COVID Crash Like We Did to the Great Depression — Boldly 28.5.2020 Truthout.com
In the face of devastation today, despite trillions in federal stimulus, real political action has been ...
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The numbers are in — and the rich are making out like bandits during this pandemic 24.5.2020 Raw Story
Tens of millions of Americans are cashless, many desperate to feed their children. Meanwhile the richest Americans merrily float on a rapidly rising tide of money thanks mainly to Trump & Co. My analysis of Federal Reserve data shows a record flow of greenbacks let the corporate rich pour trillions of dollars into their accounts […]
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The rich are making out like drug dealers in this pandemic — and Trump’s GOP is the main culprit 21.5.2020 Raw Story
While tens of millions of Americans are out of work, many desperate for cash to feed their children, the richest Americans merrily float on a rapidly rising tide of cash thanks in good part to Trump & Co. My analysis of Federal Reserve data shows a record flow of greenbacks let the corporate rich pour […]
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Whistleblower Says Systemic Mortgage Fraud Has Returned to Wall Street 16.5.2020 Truthout.com
Whistleblower Says Systemic Mortgage Fraud Has Returned to Wall Street
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Whistleblower: Wall Street has engaged in widespread manipulation of mortgage funds 16.5.2020 Raw Story
Among the toxic contributors to the financial crisis of 2008, few caused as much havoc as mortgages with dodgy numbers and inflated values. Huge quantities of them were assembled into securities that crashed and burned, damaging homeowners and investors alike. Afterward, reforms were promised. Never again, regulators vowed, would real estate financiers be able to […]
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