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Economics And Finance

Bitcoin Enthusiasts, Liberal Lawmakers Cheer A Fed-Backed Digital Dollar

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One out of every 14 households in America have no bank account. Bitcoin Enthusiasts, Liberal Lawmakers Cheer A Fed-Backed Digital Dollar Negotiations over the $2.2 trillion coronavirus aid package signed by President Trump on Friday weren’t just historic for the cost, nor the speed with which it was reached. Though…

If You Didn’t Get The Memo IMF Says Global Recession Is Underway, Worse Than 2009 (#GotBitcoin?)

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International Monetary Fund Chairman Kristalina Georgieva said Friday a global recession is underway and predicted it will be worse than the 2009 financial crisis, especially in developing nations. If You Didn't Get The Memo IMF Says Global Recession Is Underway, Worse Than 2009 (#GotBitcoin?)   “We have reassessed the prospect…

Stimulus Bill Allows Federal Reserve To Conduct Meetings In Secret (#GotBitcoin?)

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Gives Fed $454 Billion Slush Fund for Wall Street Bailouts. Stimulus Bill Allows Federal Reserve To Conduct Meetings In Secret (#GotBitcoin?) The U.S. Senate voted 96-0 late yesterday on a massive bailout of Wall Street banks versus a short-term survival plan for American workers thrown out of their jobs –…

Dramatic Stock Rise Over-shadows Record 30 Million Rise In Jobless Claims (#GotBitcoin?)

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More than 3 million workers file for jobless benefits as coronavirus hits the economy. Dramatic Stock Rise Over-shadows Record 3.28 Million Rise In Jobless Claims (#GotBitcoin?) A record 3.28 million workers applied for unemployment benefits last week as the new coronavirus hit the U.S. economy, marking an abrupt end to…

Digital Payments Soar Amid Coronavirus Restrictions (#GotBitcoin?)

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In Italy, e-commerce transactions have risen 81% since the end of February, McKinsey says. Digital Payments Soar Amid Coronavirus Restrictions (#GotBitcoin?) [caption id="attachment_16828" align="aligncenter" width="600"] An Instacart Shopper Scans Bar Codes While Picking Up Groceries For A Delivery Customer In North Hollywood, Calif.[/caption] Digital-payment services are facing a surge in…

Canada’s Largest Bank Is Amongst First Victims Of Mortgage Debt Crisis (#GotBitcoin?)

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Canada’s largest bank by assets is moving to protect itself as pain spreads through the mortgage market. Canada’s Largest Bank Is Amongst First Victims Of Mortgage Debt Crisis (#GotBitcoin?) The Royal Bank of Canada RY 5.89% moved Wednesday to unload hundreds of millions of dollars worth of commercial real-estate debt…

Federal Reserve Taps BlackRock To Purchase Bonds For The Government (#GotBitcoin?)

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World’s largest money manager by assets to purchase agency CMBS on behalf of New York Federal Reserve. Federal Reserve Taps BlackRock To Purchase Bonds For The Government The Federal Reserve on Tuesday asked BlackRock Inc. to steer tens of billions of dollars in bond purchases, a reflection of the influence…

Economic Downturn Could Cost Five Million U.S. Jobs (#GotBitcoin?)

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Economic output seen shrinking by as much as $1.5 trillion with recession all but certain. Economic Downturn Could Cost Five Million U.S. Jobs (#GotBitcoin?) The fallout from the coronavirus outbreak is expected to have a significant negative impact on U.S. economic prospects, with predictions emerging for losses of up to…

Consumers Face A Massive Credit Crunch. Lenders Are Still Figuring Out What To Do (#GotBitcoin?)

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Out-of-work customers could miss loan payments and suffer plunging credit scores; lenders and credit-reporting firms are being asked to help. Consumers Face A Massive Credit Crunch. Lenders Are Still Figuring Out What To Do (#GotBitcoin?) U.S. consumers are facing what could become the biggest credit crunch since the Great Depression.…

Investors Create Cash Shortage As They Sell Everything From Treasurys To Gold (#GotBitcoin?)

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A rush for cash shook the financial system Wednesday, as companies and investors hunkered down for a prolonged economic stall, taking the recent market turmoil into a new, more troubling liquidation phase. Investors Create Cash Shortage As They Sell Everything From Treasurys To Gold (#GotBitcoin?) Investors sold nearly everything they…

Bitcoin, Not Governments Will Save the World After Crisis, Tim Draper Says

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Amid some notable recovery of Bitcoin (BTC) after a number of subsequent market crashes last week, billionaire investor Tim Draper delivered another optimistic forecast about Bitcoin. Bitcoin, Not Governments Will Save the World After Crisis, Tim Draper Says In a March 16 interview with 415 Stories podcast, Draper outlined decentralization…

JPMorgan Sees Negative GDP Growth In Addition To Negative Interest Rates (#GotBitcoin?)

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An economic slowdown is inevitable in the face of the fast-spreading coronavirus, but the U.S. will eventually avoid a technical recession, JPMorgan economists said. JPMorgan Sees Negative GDP Growth In Addition To Negative Interest Rates (#GotBitcoin?) As the outbreak situation continued to worsen, JPMorgan slashed its forecast for U.S. and…