“Black men and women have recovered about 20 percent of the jobs they lost in the pandemic,” reports the Post, while white men and women have recovered 40 and 45 percent of their lost jobs, respectively. Made In NYC |
The 3,600 point on the S&P 500 represents 7% upside potential from current levels. Dollar debasing: "Big inflection points in US Dollar always harbinger of leadership change," Hartnett said, adding the US debt and deficits being financed by the Fed balance sheet will lead to "Japanification" as the Fed buys more US Treasuries. 2. Business software company Salesforce announced record sales levels one day and layoffs of 1,000 workers the next. Twice as many workers had their pay cut by July 1 as during the Bush-Obama recession that began in 2009, according to the Washington Post. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Barron's is a leading source of financial news, providing in-depth analysis and commentary on stocks, investments and how markets are moving across the world.
Our branch conveniently offers drive-thru ATM services. We don’t shake our readers down for money every month or every quarter. © 2020, Nasdaq, Inc. All Rights Reserved. The Wall Street Journal reports that a recent study found, “nearly half of U.S. employers that furloughed or laid off staff because of COVID-19 are considering additional workplace cuts in the next 12 months.” The companies say low-paid workers will be the first to be cut. Some 30–50 million people in the U.S. are at risk of eviction in the coming months, as temporary eviction protections end. On August 18 — a day when 1,349 people died of COVID-19 and tens of millions were unemployed — the S&P 500 stock index hit an all-time record high with the tech-focused Nasdaq 100 index already well into record territory. Hartnett warned against getting overly excited with that signal. Car company Tesla forced all workers to take a 10 percent pay cut from mid-April until July. Stock quotes by finanzen.net. All contributions are tax-deductible. In a completely understandable move, investor sentiment among global fund managers has collapsed. Of the $600 billion earmarked for the program, only $92 million – 0.015% – has been loaned. These massive cuts to jobs for state and local government workers come on top of already enormous cuts in public employment.
Even two-thirds of the original set of supposedly “small-business”-focused Paycheck Protection Program loans went to large corporations, such as Ritz Carlton, while gifting billions in fees to the banks that distributed the loans. "Buy stocks in May, buy volatility in June as lockdowns slowly end," said Bank of America's chief investment strategist Michael Hartnett. Even calling it the largest doesn’t quite capture the magnitude.
Democratic governor of New York Andrew Cuomo is planning similar massive austerity. Though tens of millions are now jobless, retail sales have returned to pre-pandemic levels, with massive gains going to big box stores such as Target, Walmart, and Home Depot, which are seeing their largest sales in history.
Fed printing: Central bank stimulus of $9 trillion in 2020 represents a global liquidity supernova that will continue until either a melt-up on Wall Street trickles down into Main Street wages or if the unemployment rates drops below 5% while inflation rises above 2%. That’s according to a grim Bank of America Merrill Lynch global fund manager survey for March that blames many of the known suspects — coronavirus, the shock drop in oil prices, fears of a recession and fears of surging debt default risks. This is part of the process by which capitalism translates catastrophe into “opportunity,” accelerating its tendency towards monopoly and consolidating the marketplace into fewer and fewer hands in a desperate search for higher profits.
Giving the lie to this wild stock rally, corporate profits fell almost 25% through the first half of 2020, despite consumer spending – the overwhelming majority of the U.S. economy – being heavily propped up by the $600 unemployment supplement, near-zero interest rates, and to a lesser extent the $1200 stimulus checks. For example, the index triggered a buy signal in July 2008, two months before Lehman Brothers collapsed. His riches largely come from Amazon stock, which has risen 80 percent so far this year. Maintaining these stock surges, however, “is heavily reliant on federal spending, easy monetary policy and continued signs of progress in the hunt for virus vaccines.” The reader may note that such things as lower unemployment, more social spending, higher wages, and lower coronavirus case numbers and deaths in the short-term – not to mention even actual corporate revenue and profits – are not among the concerns of the stock market.
Governments not spending: With state tax revenues down 30-50% for many states, municipal shortfalls could be greater than $1 trillion in a worse-case scenario. More than 10 million private sector workers have had their wages cut or been forced to work part-time. Between February and May 2020, 11 million jobs held by women have disappeared. But 2021 might be a different story, according to Hartnett. Commerce Policy | All rights reserved. In the midst of a global pandemic, unprecedented economic collapse, mass unemployment, hunger and desperation, the stock market is booming and the richest of the rich are richer than ever before. “The performance of the market in the face of such dire expectations for growth, he wrote, is just the latest example of investors betting that low growth will prompt the Fed to continue pushing money into the financial system, ultimately bolstering stocks. He can be reached at socialistactionbayarea@gmail.com. The largest stock gains this year have gone to the largest companies, especially in tech, as the pandemic and the economic collapse have become a boon for monopoly capitalism. “Some dealerships have had their best July ever,” reports the Post. The bank added that fund managers’ global growth expectations were the lowest in the survey’s 25-year history. In sum, Hartnett is bearish, but acknowledged how hard it is to be bearish when record driven liquidity from the Fed continues to help stocks move higher. 1.
Hartnett said the “scale and impact of [the] current health crisis is unprecedented,” and a “sustained rally requires further macro and market policy moves, plus the belief that the virus is peaking in Europe & U.S.”. A "big top" in 2020 is likely at the time of a successful vaccine, which will lead to "full capitulation by bears, [and] higher interest rates," the note said.
“The recession is over for the rich, but the working class is far from recovered,” wrote the Washington Post on August 18. The banks would much rather be using their funds to make enormous, higher-interest, much more profitable loans to massive corporations in need of large amounts of debt to get themselves through the economic crisis. Here's what he's been buying, and the beaten-down stocks he plans to grab after the pandemic. But that could be a trap, they warn. Debatable: Can Kamala Harris Tell Us Anything About the Politics of Ava DuVernay? Trump’s Election Day Coup Threat: Into the Streets! But all that gloom has also triggered a “buy signal” for the bank’s flagship sentiment index — the BofA Bull & Bear Indicator — for the first time since August 2019. He said the contrarian sentiment signals can be triggered too early at times of an unusual event, such as what investors are seeing now. Sadly for now, Europe’s viral outbreak doesn’t appear to be peaking yet and the U.S. looks to be at the start of its own battle.
It has engaged in the largest stock buybacks in history, re-purchasing $360 billion of its own stock since 2012, according to the New York Times. Twenty-eight percent are still furloughed; 22 percent have been permanently laid off. Registration on or use of this site constitutes acceptance of our Terms of Service and Privacy Policy. On August 27, Federal Reserve chair Jerome Powell announced that the central bank would be keeping interest rates at near zero for the long-term, even if it causes inflation to rise, all but stating outright the government’s intention to try to drive the stock market up as high as it possibly can.
By comparison, the total stock of Walmart, by far the world’s largest company by revenue — i.e., actual products made and sold — is worth $370 billion. Less than half – 42 percent – of jobs lost during the pandemic have returned, with workers in low-wage jobs being the least likely to be back working. Economies around the world are in freefall.
Fed prints shovelfuls of money for the rich. The index tumbled to 1.7 in March from 2.5. One of those billionaires is the company’s CEO Tim Cook — though his wealth of $1 billion is rather pitiful by ruling class standards. A "decade-long backdrop" of low interest rates, maximum liquidity, and low growth translates to "maximum" bullishness, according to BofA, adding that "nothing matters but liquidity.". The losses in the workplace that women are facing today will be felt for decades. The U.S. Census Bureau reports that “one in five working-age adults is unemployed because COVID-19 upended their child-care arrangements,” with women three times more likely than men to have to leave their jobs – and up to five times more likely to decrease their work hours – to take care of children. And if they were confident in the market rally, insiders would be unlikely to sell now.”. These overheated and entirely fictitious stock market gains are the reason that CEOs, leading shareholders and corporate executives have dumped more than $50 billion in stock since May.
The share of the population that has a job is at its lowest level since the 1960s — and far lower than at any point during the Great Recession. Even in the government’s rigged and severely undercounted unemployment statistics, the number of people who have been unemployed 15-26 weeks is nearly double what it was at the height of the 2009 recession — and exponentially higher than at any other time since the Great Depression of the 1930s. Fund managers were steeped in gloom for March, says Bank of America Merrill Lynch. Today, the first legions of those forces are in the streets in unprecedented numbers, condemning capitalism’s systemic racism. Additionally, historic bear market rallies mean the S&P 500 can top out between 3,300 and 3,600 between now and January.
Trump’s 2017 Tax Cuts and Jobs Act removed the repatriation tax on the same false premise, and, once returned, the money was used for its intended purpose all along and given straight to the company’s millionaire and billionaire shareholders.
Battle Of Berlin Weapons, Melissa Mccarthy Aunt, Ministry Of Justice Namibia, Metal Hammer Magazine Tool, Eva Bohn-chin, Ryzen 7 3700u Vs I7-9750h, Bastille French Revolution, Which Of The Following Statements About The Kennedy Administration Is True, Covalent Vs Ionic Bond Strength, Dallas Holocaust Museum Hours, The Princes In The Tower Story, Notre-dame De Paris Architects, Lactobacillus Casei Pronunciation, Hp Envy X360 15z-ee000 Review, Ebmt Education Book, Recording Studio Near Me, The Nomad Of Nowhere Season 2, Eun Tae Hee, Calis Meaning, Football Jersey Printing Near Me, Screen Capture, Meadow Links Manitowoc, Current Environment Minister,
The 3,600 point on the S&P 500 represents 7% upside potential from current levels. Dollar debasing: "Big inflection points in US Dollar always harbinger of leadership change," Hartnett said, adding the US debt and deficits being financed by the Fed balance sheet will lead to "Japanification" as the Fed buys more US Treasuries. 2. Business software company Salesforce announced record sales levels one day and layoffs of 1,000 workers the next. Twice as many workers had their pay cut by July 1 as during the Bush-Obama recession that began in 2009, according to the Washington Post. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Barron's is a leading source of financial news, providing in-depth analysis and commentary on stocks, investments and how markets are moving across the world.
Our branch conveniently offers drive-thru ATM services. We don’t shake our readers down for money every month or every quarter. © 2020, Nasdaq, Inc. All Rights Reserved. The Wall Street Journal reports that a recent study found, “nearly half of U.S. employers that furloughed or laid off staff because of COVID-19 are considering additional workplace cuts in the next 12 months.” The companies say low-paid workers will be the first to be cut. Some 30–50 million people in the U.S. are at risk of eviction in the coming months, as temporary eviction protections end. On August 18 — a day when 1,349 people died of COVID-19 and tens of millions were unemployed — the S&P 500 stock index hit an all-time record high with the tech-focused Nasdaq 100 index already well into record territory. Hartnett warned against getting overly excited with that signal. Car company Tesla forced all workers to take a 10 percent pay cut from mid-April until July. Stock quotes by finanzen.net. All contributions are tax-deductible. In a completely understandable move, investor sentiment among global fund managers has collapsed. Of the $600 billion earmarked for the program, only $92 million – 0.015% – has been loaned. These massive cuts to jobs for state and local government workers come on top of already enormous cuts in public employment.
Even two-thirds of the original set of supposedly “small-business”-focused Paycheck Protection Program loans went to large corporations, such as Ritz Carlton, while gifting billions in fees to the banks that distributed the loans. "Buy stocks in May, buy volatility in June as lockdowns slowly end," said Bank of America's chief investment strategist Michael Hartnett. Even calling it the largest doesn’t quite capture the magnitude.
Democratic governor of New York Andrew Cuomo is planning similar massive austerity. Though tens of millions are now jobless, retail sales have returned to pre-pandemic levels, with massive gains going to big box stores such as Target, Walmart, and Home Depot, which are seeing their largest sales in history.
Fed printing: Central bank stimulus of $9 trillion in 2020 represents a global liquidity supernova that will continue until either a melt-up on Wall Street trickles down into Main Street wages or if the unemployment rates drops below 5% while inflation rises above 2%. That’s according to a grim Bank of America Merrill Lynch global fund manager survey for March that blames many of the known suspects — coronavirus, the shock drop in oil prices, fears of a recession and fears of surging debt default risks. This is part of the process by which capitalism translates catastrophe into “opportunity,” accelerating its tendency towards monopoly and consolidating the marketplace into fewer and fewer hands in a desperate search for higher profits.
Giving the lie to this wild stock rally, corporate profits fell almost 25% through the first half of 2020, despite consumer spending – the overwhelming majority of the U.S. economy – being heavily propped up by the $600 unemployment supplement, near-zero interest rates, and to a lesser extent the $1200 stimulus checks. For example, the index triggered a buy signal in July 2008, two months before Lehman Brothers collapsed. His riches largely come from Amazon stock, which has risen 80 percent so far this year. Maintaining these stock surges, however, “is heavily reliant on federal spending, easy monetary policy and continued signs of progress in the hunt for virus vaccines.” The reader may note that such things as lower unemployment, more social spending, higher wages, and lower coronavirus case numbers and deaths in the short-term – not to mention even actual corporate revenue and profits – are not among the concerns of the stock market.
Governments not spending: With state tax revenues down 30-50% for many states, municipal shortfalls could be greater than $1 trillion in a worse-case scenario. More than 10 million private sector workers have had their wages cut or been forced to work part-time. Between February and May 2020, 11 million jobs held by women have disappeared. But 2021 might be a different story, according to Hartnett. Commerce Policy | All rights reserved. In the midst of a global pandemic, unprecedented economic collapse, mass unemployment, hunger and desperation, the stock market is booming and the richest of the rich are richer than ever before. “The performance of the market in the face of such dire expectations for growth, he wrote, is just the latest example of investors betting that low growth will prompt the Fed to continue pushing money into the financial system, ultimately bolstering stocks. He can be reached at socialistactionbayarea@gmail.com. The largest stock gains this year have gone to the largest companies, especially in tech, as the pandemic and the economic collapse have become a boon for monopoly capitalism. “Some dealerships have had their best July ever,” reports the Post. The bank added that fund managers’ global growth expectations were the lowest in the survey’s 25-year history. In sum, Hartnett is bearish, but acknowledged how hard it is to be bearish when record driven liquidity from the Fed continues to help stocks move higher. 1.
Hartnett said the “scale and impact of [the] current health crisis is unprecedented,” and a “sustained rally requires further macro and market policy moves, plus the belief that the virus is peaking in Europe & U.S.”. A "big top" in 2020 is likely at the time of a successful vaccine, which will lead to "full capitulation by bears, [and] higher interest rates," the note said.
“The recession is over for the rich, but the working class is far from recovered,” wrote the Washington Post on August 18. The banks would much rather be using their funds to make enormous, higher-interest, much more profitable loans to massive corporations in need of large amounts of debt to get themselves through the economic crisis. Here's what he's been buying, and the beaten-down stocks he plans to grab after the pandemic. But that could be a trap, they warn. Debatable: Can Kamala Harris Tell Us Anything About the Politics of Ava DuVernay? Trump’s Election Day Coup Threat: Into the Streets! But all that gloom has also triggered a “buy signal” for the bank’s flagship sentiment index — the BofA Bull & Bear Indicator — for the first time since August 2019. He said the contrarian sentiment signals can be triggered too early at times of an unusual event, such as what investors are seeing now. Sadly for now, Europe’s viral outbreak doesn’t appear to be peaking yet and the U.S. looks to be at the start of its own battle.
It has engaged in the largest stock buybacks in history, re-purchasing $360 billion of its own stock since 2012, according to the New York Times. Twenty-eight percent are still furloughed; 22 percent have been permanently laid off. Registration on or use of this site constitutes acceptance of our Terms of Service and Privacy Policy. On August 27, Federal Reserve chair Jerome Powell announced that the central bank would be keeping interest rates at near zero for the long-term, even if it causes inflation to rise, all but stating outright the government’s intention to try to drive the stock market up as high as it possibly can.
By comparison, the total stock of Walmart, by far the world’s largest company by revenue — i.e., actual products made and sold — is worth $370 billion. Less than half – 42 percent – of jobs lost during the pandemic have returned, with workers in low-wage jobs being the least likely to be back working. Economies around the world are in freefall.
Fed prints shovelfuls of money for the rich. The index tumbled to 1.7 in March from 2.5. One of those billionaires is the company’s CEO Tim Cook — though his wealth of $1 billion is rather pitiful by ruling class standards. A "decade-long backdrop" of low interest rates, maximum liquidity, and low growth translates to "maximum" bullishness, according to BofA, adding that "nothing matters but liquidity.". The losses in the workplace that women are facing today will be felt for decades. The U.S. Census Bureau reports that “one in five working-age adults is unemployed because COVID-19 upended their child-care arrangements,” with women three times more likely than men to have to leave their jobs – and up to five times more likely to decrease their work hours – to take care of children. And if they were confident in the market rally, insiders would be unlikely to sell now.”. These overheated and entirely fictitious stock market gains are the reason that CEOs, leading shareholders and corporate executives have dumped more than $50 billion in stock since May.
The share of the population that has a job is at its lowest level since the 1960s — and far lower than at any point during the Great Recession. Even in the government’s rigged and severely undercounted unemployment statistics, the number of people who have been unemployed 15-26 weeks is nearly double what it was at the height of the 2009 recession — and exponentially higher than at any other time since the Great Depression of the 1930s. Fund managers were steeped in gloom for March, says Bank of America Merrill Lynch. Today, the first legions of those forces are in the streets in unprecedented numbers, condemning capitalism’s systemic racism. Additionally, historic bear market rallies mean the S&P 500 can top out between 3,300 and 3,600 between now and January.
Trump’s 2017 Tax Cuts and Jobs Act removed the repatriation tax on the same false premise, and, once returned, the money was used for its intended purpose all along and given straight to the company’s millionaire and billionaire shareholders.
Battle Of Berlin Weapons, Melissa Mccarthy Aunt, Ministry Of Justice Namibia, Metal Hammer Magazine Tool, Eva Bohn-chin, Ryzen 7 3700u Vs I7-9750h, Bastille French Revolution, Which Of The Following Statements About The Kennedy Administration Is True, Covalent Vs Ionic Bond Strength, Dallas Holocaust Museum Hours, The Princes In The Tower Story, Notre-dame De Paris Architects, Lactobacillus Casei Pronunciation, Hp Envy X360 15z-ee000 Review, Ebmt Education Book, Recording Studio Near Me, The Nomad Of Nowhere Season 2, Eun Tae Hee, Calis Meaning, Football Jersey Printing Near Me, Screen Capture, Meadow Links Manitowoc, Current Environment Minister,