And as the numbers prove, while there are job opportunities in the low-paying service sectors, enormous numbers of middle and upper-class workers are out of work.
Author: admin
FED CONTINUES TO STONEWALL ON OFFICIALS’ POSSIBLE CRIMES
The U.S. Federal Reserve continues to withhold details about its most notorious public scandal in recent history.
CORPORATE BANKRUPTCIES CONTINUE TO RISE
To 27 May, eight companies, each with more than $500 million in liabilities, filed Chapter 11 bankruptcy this month, including five in one day. Last year, the monthly average was three filings, the Financial Times noted.
COMMERCIAL REAL ESTATE VALUES FALL
For the first time since at least 2012, the sale price of U.S. commercial real estate declined in the first quarter, year over year, according to a review of sales data by Moody’s Analytics.
MORE HIGH EARNERS LIVING PAYCHECK TO PAYCHECK
The number of U.S. six-figure earners living paycheck to paycheck has reached 49 percent, according to the latest LendingTree study, compared to 42 percent at the end of last year.
U.S. CONSUMERS: DEEP IN DEBT, BUYING MORE
Consumer spending rose 0.8 percent last month after rising just 0.1 percent in both February and March, the U.S. commerce department reported. Even adjusted for inflation, spending was up 0.5 percent in April.
INFLATION RISES UNEXPECTEDLY IN APRIL
The Personal Consumption Expenditures Price Index, the U.S. Federal Reserve’s favorite measure of inflation, rose 0.4 percent in April after gaining just 0.1 percent in March.
DOLLAR TREE MISSES EARNINGS TARGET, CUTS OUTLOOK
Dollar Tree’s earnings in its most recently completed quarter missed analysts’ expectations and sent the company’s share price sliding 14 percent.
MONEY MARKET FUNDS CONTINUE TO RAKE IN RECORD CASH
Investors and bank depositors seeking a combination of safety and high returns continued sending their cash into money market funds last week as a U.S. debt default remained possible and fears about the banking industry continued to reverberate.
NO HEALTHY INDIVIDUALS UNDER 50 DIED FROM COVID-19 IN ISRAEL: DATA
Not one healthy person under the age of 50 died from COVID-19 in Israel, according to data released by Israel’s Ministry of Health in response to a freedom of information request—further proving that the outbreak was never a “pandemic.”