Jack Mallers, CEO of bitcoin investment and payment company Zap, made a promise at Bitcoin Conference 2021: “One small step for Bitcoin, one giant leap…
Posts published in “Economy”
Patrick Byrne spoke at Bitcoin Magazine’s Bitcoin Conference 2021 on the End of Fiat stage in what he termed a “rare, rare appearance.” After the…
Social structures tend to have what Charles Hoskinon calls “the social sinkhole effect.” What’s that mean? “…A sinkhole grows from the bottom up,” the blockchain…
Should you invest in bitcoin right now? When bitcoin was launched initially, it was meant to be a platform that allows for anonymous payments. The…
The World Bank is working closely with 100 countries to undermine rules that ensure individuals injured by vaccines can sue vaccine makers through legislation or…
From Anchorage, Alaska to Miami, Florida, millions of Americans worry where from their next meal will come. Since the coronavirus outbreak began 10 months ago,…
The outlook for the gold price in 2021 is still positive, although the recent news about COVID-19 vaccines has taken a bite out of this latest brief…
The response to the COVID-19 pandemic will bring about serious change. Factory and service jobs, for instance, will be assumed by robots. There will be…
American manufacturing appears to be at a crossroads. With a 5.5% climb in November, the U.S. trade deficit made a new record high. U.S. exports…
Joe Biden’s “build back better” plan is far different than Donald Trump’s “America First” platform. The so-called ‘Great Lockdown’ has devastated the global economy. Biden accused Trump of “economic policies that rewarded wealth over work and corporations over working families.” He also claimed that black and Latinos, native Americans, immigrants and women were never “ welcomed as full participants in the economy.” These groups came out in droves for Trump during the election.
The World Bank released last week its report “Human Capital Index 2020 Update.” It notes how certain countries, namely South Korea and Iceland, “successfully implemented” contract tracing strategies early on in 2020, while most countries employed lockdowns and movement restrictions.
Facebook, World Bank, and the OECD surveyed 30,000 SMBs in 50 countries. They found that 26% closed between January and May. 74% of those businesses…
Throughout his whole life, Ed Bugos, Senior Investment Analyst and Financial Editor at The Dollar Vigilante, always thought that the common cold would wipe humans…
Although public debt has swelled to the highest in history, the International Monetary Fund (IMF) warned Friday that cutting stimulus could undermine the recovery and…
The worst global economic crisis since World War II might push up to 100 million people into poverty, warns the World Bank. The international financial…
Leading international organizations on nutrition, including Action Against Hunger, Concern Worldwide, the Eleanor Crook Foundation, the International Rescue Committee, and World Vision, wrote a letter…
The “unprecedented” fiscal policy response of 11 trillion U.S. dollars worldwide has pushed global public debt to reach a record high, according to the International…
International Monetary Fund chief economist Gita Gopinath has advised governments to implement “equity-like” support instead of loans as firms increasingly become insolvent due to lower…
The UK must borrow more than 400 billion pounds over two years. The coronavirus response has led to a recession, taking a toll on public…
The Federal Reserve demonstrates that household wealth declined by $6.5 trillion from the end of 2019 to March 2020. The loss stems from a sharp…
The International Monetary Fund lowered its global growth forecast for this year and next in the wake of “The Great Lockdown.” The IMF forecasts a…
The Great Lockdown will lead to the worst depression since World War II. Not since 1870 have so many economies simultaneously experienced declines in per…
As economies begin to close again, with politicians citing increases in COVID-19 cases, retail sales have been on the increase. For instance, retail sales rose…
75 years after the creation of the Bretton Woods conference, The IMF is saying now is the hour of the Special Drawing Right (SDR), which…
Stephen Roach, a leading authority on Asia, is worried of a quickly shifting global order and the U.S. budget deficit, suggesting it might spark a…
85% of independent restaurants may be forced to close by the end of 2021, according to a report commissioned by the Independent Restaurant Coalition. “What…
The National Bureau of Economic Research Monday said that the COVID-19 crisis launched the US economy into a recession, thus ending the longest economic expansion…
Number of contracts for Manhattan apartments were down nearly 84% from May 2020 to May 2019. While there were a total of 160 contracts signed…
Nearly two billion people, more than half of the world’s workforce, could lose their job or move into part-time work in 2020, according to a…
Before the coronavirus pandemic lockdown, total household debt was more than $1.6 trillion higher than during the previous peak in 2008, increasing to $155 billion in Q1 to total $14.3 trillion, according to data released by the New York Fed.
The House passed a $3 trillion Democratic economic stimulus bill on Friday that was largely rejected by Republicans and President Donald Trump. Passed 208-199, the bill would provide insolvent states and local governments with more than $1 trillion, and most Americans with another $1,200 check.
Americans seeking unemployment benefits increased by nearly three million last week, bringing total jobless claims to 36 million––nearly a quarter of the American workforce of about 156 million. “Today’s unemployment claims continue their ascent on a cumulative weekly basis; not since the Great Depression has the US job market been in such a sorry state,” said Richard Flynn, UK managing director at Charles Schwab.
The Labor Department reported Tuesday that prices US consumers paid for groceries increased 2.6% in April, marking the largest one-month increase since February 1974.
The World Bank Group has been hands on in the response to COVID-19 with one goal in mind: “to build a more resilient and sustainable future.”
“For the first time in history virtually all people on earth are faced with the same, imminent common threat,” writes Jürgen Zattler for the Center fo Global Development blog in a piece called Never Let a Crisis Go To Waste.
“The coronavirus outbreak has harmed communities and disrupted economic activity in many countries, including the United States,” the Federal Reserve said as it cut interest rates to essentially zero and embarked upon a $700 billion quantitative easing program to shelter the economy from the effects of the virus.
New Orleans business owners will be required to maintain records of their customers as the city eases lockdown restrictions, according to Mayor LaToya Cantrell said Tuesday. The city’s goal is to track down residents who may have come into contact with people found to be infected with COVID-19. City officials instructed businesses to create their own method of tracking employees with further details forthcoming.
White House senior adviser Kevin Hassett said last week that the U.S. faces a Second Great-Depression due to the COVID-19 pandemic. Major business leaders say there is no way we will experience a substantial economic rebound before the fall.
The Federal Reserve may stop targeting inflation, the measure of price increases for goods and services over time, as the coronavirus response threatens economic depression…
With unemployment claims above 26 million, reports have surfaced that state UI systems cannot handle the volume of applications, leaving millions of laid-off and furloughed…
Global central banks have already set interest rates at record lows and earmarked trillions of dollars on asset purchases as an economic response to the coronavirus pandemic.
As 26 million people have filed their unemployment claims, U.S. billionaires’ wealth increased 10% or $282 billion more since the beginning of March. Their new…
With 1 in 6 U.S. workers out of work, U.S. unemployment is reaching Great Depression levels. More than 4.4 million laid-off Americans applied for unemployment…
Instead of bailing out states at the federal level, Senate Majority Leader Mitch McConnell said he prefers states struggling with high public employee pension costs to declare bankruptcy.
“I would certainly be in favor of allowing states to use the bankruptcy route,” he said Wednesday. “It’s saved some cities, and there’s no good reason for it not to be available.”
Public debt is skyrocketing as central banks expand their balance sheets to record levels.
“The amounts being purchased are enormous, and it just tells you how much support is needed when the economy is closed down,” said Torsten Slok, Deutsche Bank’s chief economist. “Just have a look at how long it took to unwind from the financial crisis of 2008 and 2009. Now we are adding at a pace that is multiples faster.”
The IMF calls the quarantines and social distancing practices to contain the coronavirus pandemic “The Great Lockdown.” In a recent blog post, the Fund discussed the effects.
Twelve Major commercial banks, and Istanbul Gold Refinery (IAR), embarked upon a project to change people’s gold saving habits, according to Ayşe Esen, CEO of IAR. The goal was to dissuade them from hoarding precious metal at home, reports Daily Sabbah.
Bank of America’s survey of global fund managers showed “extreme investor pessimism” regarding cash held to the bleak outlook they hold for the global economy.
Paul Singer’s Elliott Management said global stocks might lose half or more of their value from the high reached in February, predicting a 1930s-esque Great Depression. In a letter to clients, the New York-based hedge fund wrote that the sharp market decline seen between late February and late March “provided a heavy bookend to a dozen years of basically nonstop positive returns in global stocks, bonds, and real estate.”