Category: #Economy
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How the Fed’s Rescue Program Is Worsening Inequality
Americans have been justifiably disturbed by stories of deep-pocketed corporations accepting loans from the Paycheck Protection Program designed to save small businesses and non-profits. But…
U.S. scrutinizes meatpackers as beef prices soar amid pandemic
Supermarket customers are paying more for beef than they have in decades during the coronavirus pandemic. But at the same time, the companies that process…
A Just Reopening Prioritizes People Over Profits
As Trump’s “reopening” endangers lives, Democrats must advance policy that gives working people something to fight for, argues In These Times’ Sarah Lazare. The post…
Coronavirus could push Social Security to insolvency before 2030
Social Security could be insolvent by the end of this decade because of the coronavirus pandemic, according to some new estimates, creating new pressure for…
Fed’s Powell warns unemployment could reach Depression-level 25 percent
Federal Reserve Chair Jerome Powell on Sunday warned that the nation’s unemployment rate could soar to 25 percent during the worst of the coronavirus crisis,…
Congress nowhere close to a coronavirus deal as unemployment spikes
Americans hoping for the next round of coronavirus relief will probably be waiting for weeks — if not much longer. Though House Democrats on Friday…
‘Unprecedented’: States face hundreds of billions in lost revenue, NBC News finds
More than 30 states were surveyed to get a detailed picture of the coronavirus-caused crisis. Source: https://www.nbcnews.com/politics/politics-news/unprecedented-states-face-hundreds-billions-lost-revenue-nbc-news-finds-n1206316 Droolin’ Dog sniffed out this story and shared…
LNG price war could send natural gas into negative territory
Natural gas producers could soon be about to fight out a battle for market share in which prices could fall to negative levels until some…
House passes Democrats’ $3T coronavirus ‘HEROES’ aid: Stimulus checks, money for states, rent assistance
President Donald Trump called it “DOA,” and Sen. Mitch McConnell said the bill was little more than an unrealistic wish list. Source: https://www.nbcnews.com/politics/congress/house-vote-democrats-3t-coronavirus-heroes-aid-stimulus-checks-money-n1207816 Droolin’ Dog…
Grocery prices are on the rise — here are 6 ways to keep your food budget under control
Here’s how to keep your food budget low while on lockdown, according to experts. Source: https://www.nbcnews.com/better/lifestyle/grocery-prices-are-rise-here-are-6-ways-keep-your-ncna1207896 Droolin’ Dog sniffed out this story and shared it…
Unconditional bailouts to big business do not make sense. We should focus on 'good' business instead
People have limited sympathy for CEOs going cap in hand to ask for state support when those same CEOs have previously decided it’s not in…
Fed chair Powell warns of “lasting” economic damage without more stimulus
Federal Reserve Chairman Jerome Powell said Congress may need to do more to prevent a worse economic downturn triggered by the coronavirus pandemic, in an…
House Democrats push new round of stimulus checks in coronavirus bill
The Democratic legislation provides for another $1,200 per person with income thresholds similar to the CARES Act Source: https://www.nbcnews.com/politics/congress/house-democrats-push-new-round-stimulus-checks-coronavirus-bill-n1205421 Droolin’ Dog sniffed out this story…
Poll: only 36% of Americans trust Donald Trump on coronavirus
According to a new CNN poll, only 36% of Americans trust what President Donald Trump says about the coronavirus pandemic. But his approval rating is…
One in five Wendy’s is out of beef, analyst says
The national meat shortage spurred by the coronavirus pandemic is making its presence felt among fast food chains, with an analysis showing that Wendy’s – one of the U.S.’s largest fast food…
Why China is better prepared than other economic powers for any global crisis
While the world’s second-largest economy, China, has suffered its first contraction on record due to the Covid-19 pandemic, some experts argue the country has been…
Unemployment soars to 14.7 percent in April amid coronavirus fallout
The unemployment rate shot up to 14.7 percent in April, its highest level since the Great Depression, the Bureau of Labor Statistics reported Friday. U.S….
Weekly unemployment claims rise by 3.2M as states move to reopen
The number of Americans losing jobs to the coronavirus pandemic continued last week to climb steeply, the Labor Department reported Thursday, with 3.2 million new…
Treasury to borrow record $2.99 trillion in second quarter
The U.S. Treasury will need to borrow a record $2.99 trillion this quarter to pay for coronavirus relief efforts, it announced Monday. Why it matters:…
Shell: OK, We May Actually Be Fucked This Time
The coronavirus has sent oil demand plummeting, and it may never return to where it once was. In a stunning admission, Shell CFO Jessica Uhl…
Donald Trump is igniting a Cold War with China to win the election
Global cooperation is essential to fight coronavirus. Yet many nation states are led by Trump-type populist leaders Source: https://www.independent.co.uk/voices/coronavirus-trump-china-us-cold-war-election-economy-iraq-a9494451.html Droolin’ Dog sniffed out this story…
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