Absent in the reporting of daily cases and the non-stop spreading of COVID Fear by the mainstream media, as we have been reporting for months, on a global scale, some 50 percent of all deaths from COVID-19 are in elder care facilities. Remember, when the virus first struck the U.S in March, the vast majority...
Author: support
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LEBANON: FREE FALL INTO THE ABYSS
Last Tuesday, a massive explosion ripped through the heart of Beirut, the capital city of Lebanon, killing some 180 people and injuring an estimated 6,000. On top of the loss of life, estimated property damage hovers between $3-15 billion, and hundreds of thousands are now homeless due to the explosion’s widespread damage. The source of...
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AUTO LOANS RISK RISING DEFAULTS
Vehicle loans, which have almost doubled in number since 2010, face a rising likelihood of mass-scale defaults with millions unemployed, future federal unemployment bonuses in doubt, and banks less able, or less willing, to defer payments or negotiate lower balances. During the current crisis, auto lenders offered to defer payments for many borrowers for as...
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THREE FACTORS SHAPING THE JOBS MARKET
With new claims for unemployment benefits topping one million for 20 weeks in a row, whether job growth continues robustly, weakly, or at all depends on three factors, analysts say. First, 45 million working Americans have school-age children. If schools do not fully reopen, many parents will forego full-time work to remain at home to...
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JOBS MARKET SLOWS AMID CLOUDY FUTURE
The U.S. economy sprouted 1.76 million jobs in July, significantly fewer than the 4.79 million added in June but surpassing analysts’ consensus expectation of 1.5 million. The gain still leaves the economy 12.88 million jobs short of the number it supported in February, according to the U.S. labor department. The unemployment rate dropped to 10.2...
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ARTIFICIAL INTELLIGENCE DESIGNS NEW PROTEINS
Life is a byproduct of proteins interacting. Now scientists have figured out how to add brand new proteins into those processes. Biologists at the University of Chicago showed an artificial intelligence system the genomes of thousands of organisms, from yeast to humans. From those, the AI program deduced the rules by which proteins are assembled...
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POWER COMPANY TESTS WIRELESS ELECTRICITY TRANSMISSION
Powerco, New Zealand’s second-largest electric utility, has teamed with start-up Emrod to test a commercial power system that scientists have fantasized about for a century: transmitting electric power wirelessly, safely, and without major losses en route. A prototype, able to transmit only a few kilowatts, will be built by October. The companies then will spend...
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STRICTER LOCKDOWN LAWS
Manila, the capital of the Philippines; New York City; and the state of New Jersey all had something in common last week: they are re-instituting stricter lockdowns despite small percentages of COVID-19 deaths. In Manila, city officials forced the cancellation of most domestic flights and imposed a night curfew. Police established road checkpoints to restrict...
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FED’S RESCUE PROGRAM NOT WORKING, BUSINESSES SAY
Among the 15,000 members of the Association for Corporate Growth who tried to borrow money through the U.S. Federal Reserve’s Main Street Lending Program, 81 percent were unable to, association officials told a Congressional hearing last week. Under the program, which began this month, the Fed will buy 95 percent of a bank’s loan to...
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FEDERAL RESERVE: WORLD’S CHEAP MONEY BARRON
From the beginning of the global economic shutdown until April, the U.S. Federal Reserve had loaned almost $500 billion to the central banks of other nations. The Fed’s goal was to prevent panic sales of dollar-denominated assets by countries desperate to raise cash to treat virus victims and prop up their economies. Fire sales would...