The European Union has suspended its ban on government subsidies to businesses as member nations pledge hundreds of billions of euros to save industries, sustain companies, and pay laid-off workers as the implications of their response to the virus plays out. France already has promised €45 billion to re-inflate its economy. The Netherlands has announced...
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THE BIG OIL BUST
As the Trends Journal has been reporting, U.S. oil companies – especially those heavily invested in fracked wells – are facing three threats to their existence: oil prices lower than they’ve been for years and, for many companies, lower than the cost of pulling oil out of the ground; the global economic shutdown; and $86...
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THE BANKING CARTEL
U.S. Mega-Banks Going Bust? From 14 February through 20 March, five of the largest U.S. banks lost an average of 45 percent of their stock market value, reports Wall Street on Parade (WSOP): Bank of America: -43.6 percent Citigroup: -51.7 percent Goldman Sachs: -41.6 percent JP Morgan Chase: -39.3 percent Morgan Stanley: -46.9 percent The...
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BOND MARKET TIGHTENS, JUNK BONDS IN CRISIS
The overloaded $1.2 trillion market in junk bonds – bonds issued by high-risk companies – is showing strains and may break down completely. Years of low interest rates and easy credit have encouraged companies to borrow to buy their own or others’ stocks, to buy other companies, or to expand operations, among other financial adventures....
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UNEMPLOYMENT: WORSE THAN GREAT DEPRESSION
The coronavirus is killing more jobs, businesses, and industries than people. In America alone, some 43 percent of people are now locked down. While the International Labor Organization projects some 25 million people will be out of work worldwide over the next several months, with income loss from $860 billion to $3.4 trillion, we forecast...
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U.S. MARKETS
On Monday, the Dow Jones Industrial Average continued its sell off, falling another 582 points, or 3 percent, erasing three years of gains and was on pace to clinch its worst calendar month since 1931. The S&P 500 dropped 2.9 percent, down more than 30 percent from a record close set on 19 February. Analysts...
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COVID-19 SPREADS GOVERNMENT SURVEILLANCE
Taking advantage of the coronavirus scare, Congressional and Justice Department moves are being proposed to give government more control of the private lives of citizens. The Senate Judiciary Committee is recommending passage of the “Earn It” bill, co-sponsored by Republican Senator Lindsey Graham and Democratic Senator Richard Blumenthal. Provisions in this bill allow the government...
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MAKING CANCER CELLS POISON THEMSELVES
by Bennett Daviss What if every time you flushed your toilet, it emptied into your food supply? Researchers at the Institute of Basic Sciences in South Korea have found a way to do the same for cancer cells. The parts of cells that take out the trash are called lysosomes. In cancer cells, they’re more...
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3D PRINTING A THOUSAND TIMES FASTER
by Bennett Daviss 3D printing is revolutionizing the manufacture of everything from jet engine parts to artificial human organs – or at least it has the power to if it wasn’t so slow. Now engineers at the Chinese University of Hong Kong have collaborated with colleagues at the Lawrence Livermore National Laboratory to develop a...
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COVID-19 = VICTORY GARDENS 2.0
by Amber Freda With nations in lockdown and a ban on all “non-essential” work sweeping the globe, hundreds of millions suddenly have a lot of free time on their hands. And with masses out of work, short on cash, and millions wanting to improve their health, planting a vegetable garden is not only practical, but also...