The economic crisis has left banks with slashed profits, record-thin margins, and more cash than they can find things to do with. Customers have poured money into savings accounts in record volumes during the economic crisis and banks reaped additional revenue from late fees on credit cards, mortgages, and other loans. These windfalls have given...
Author: support
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LAYOFF LAND
MGM Resorts International plans to fire 18,000 workers, about a quarter of its employees, as travelers are no longer flocking to its casinos. Stanley Black & Decker recently told a cohort of furloughed employees they will not be brought back. Yelp and the Cheesecake Factory also are among companies that are permanently trimming their labor...
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U.S. TRADE GAP SETS 12-YEAR RECORD
The U.S. imported $231.7 billion worth of goods and services in July, an 18.9-percent increase from June, the commerce department reported. The monthly trade deficit in merchandise alone for the month was the largest on record. Exports in the same month grew 8.1 percent to $168.1 billion, leaving the U.S. with a $63.6 billion trade...
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ECONOMY GAINS 1.4 MILLION JOBS IN AUGUST
The U.S. economy added 1.4 million jobs in August, including 238,000 temporary berths for census takers, dropping the official unemployment rate to 8.4 percent, according to the U.S. Bureau of Labor Statistics (BLS). Sectors hit hardest by the economic shutdown fared well: retail added 248,900 jobs and restaurants took on 133,600 more workers. The sectors...
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ETFs DRIVING GOLD RUSH
Gold futures’ 28-percent rise this year have been driven largely by $50 billion of new investment in exchange-traded funds (ETFs) backed by gold, according to the World Gold Council. ETFs made up 40 percent of the world’s gold demand in this year’s second quarter, compared to 6 percent a year previous. As a result, ETFs...
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NATIONAL DEBT HIGHEST IN 75 YEARS
The U.S. national debt will equal 98 percent of GDP by the end of this month, the debt’s largest size, compared to the size of the national economy, since the end of World War II, the Congressional Budget Office (CBO) reported. The debt was heightened by about $2.7 trillion in new federal spending to fight...
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COLLEGE STUDENTS: OUT OF THEIR MINDS
While the mainstream media repeat without question the new rules that politicians, bureaucrats, businesses, and the education system invent which have instantly – and negatively – altered life as we know it that existed previous to this past March, there is limited coverage of the adverse mental health effects of these unprecedented and formerly unimaginable...
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SOVIET STATE OF COLLEGES: MORE “RATS”
A 12 August Op-Ed piece was published in The New York Times with the headline: “Don’t Make College Kids the Coronavirus Police.” The article, co-authored by Dr. Karen Levy, Assistant Professor in the Department of Information Science at Cornell Law School, and her doctoral candidate Lauren Kilgour, begins, “Many universities are asking students to wear...
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COLLEGE GULAG
Since the lockdowns across the globe began in March, for generations, what used to be the “college life” for students has changed into the draconian New ABnormal in just a few months. To fight the COVID War, college “authorities” must know how you feel, where you are, when you got there, who you were with,...
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COLLEGE PRESIDENTS WAGE WAR ON PARTIES
As Gerald Celente long has been saying, “When all else fails, they take you to war.” Aside from having lost every war politicians launched since the end of World War II, all of the other wars the U.S. has started, military and otherwise, continue unabated. How is the “War on Cancer,” launched in 1971, going?...