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Economics And Finance

Magic Johnson Steps-up To Address Deficiencies In PPP’s Small Business Aid Program

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Former Laker is looking for ways to help hard-hit minority communities during the coronavirus crisis. Magic Johnson Steps-up To Address Deficiencies In PPP's Small Business Aid Program Citing concerns that minority-owned businesses are being overlooked, Earvin “Magic” Johnson said his EquiTrust Life Insurance Co. will provide $100 million in capital…

Lessons Of The Great Depression: Preserving Wealth Amid The Covid-19 Crisis

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The hobbled American economy lies uneasily under what has been described as an “induced coma.”  Lessons Of The Great Depression: Preserving Wealth Amid The Covid-19 Crisis Across the nation, businesses have been shut down entirely or significantly curtailed to stanch the spread of the coronavirus that has already infected more…

After Devastating Economic Contraction, Glimmers of Growth Emerge

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Daily and weekly data suggest a recovery might be brewing, though its strength is unclear. After Devastating Economic Contraction, Glimmers of Growth Emerge There are signs the economic contraction caused by the pandemic, the steepest since the Great Depression, has bottomed out and a tentative recovery may be under way.…

JPMorgan Provides Banking Services To Crypto Exchanges Coinbase And Gemini (#GotBitcoin?)

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Coinbase and Gemini reportedly had their accounts approved with JPMorgan Chase in April. JPMorgan Provides Banking Services To Crypto Exchanges Coinbase And Gemini (#GotBitcoin?) [caption id="attachment_17681" align="aligncenter" width="600"] Tyler Winklevoss, Left, And Cameron Winklevoss Are Co-Founders Of The Gemini Bitcoin Exchange.[/caption] JPMorgan Chase, the United States’ largest bank, has reportedly…

In Leaked Audio, Obama Slams Trump Coronavirus Response, Concerned About DOJ Dropping Flynn Case

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In leaked audio obtained Friday by Yahoo News, former President Barack Obama told ex-members of his administration that President Donald Trump’s response to the coronavirus has been an “absolute chaotic disaster.” In Leaked Audio, Obama Slams Trump Coronavirus Response, Concerned About DOJ Dropping Flynn Case [embed]https://www.youtube.com/watch?v=A81dhTxfyzc[/embed] Obama also claimed the…

Formal Talks Paused On Next Stimulus Package, Trump Economic Adviser Larry Kudlow Says

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House Democrats are working on a plan to provide new aid for states and cities, additional money for households. Formal Talks Paused on Next Stimulus Package, Trump Economic Adviser Larry Kudlow Says A top economic adviser to President Trump said formal negotiations over the next coronavirus relief package won’t resume…

BoE Warns UK Set To Enter Worst Recession For 300 Years (#GotBitcoin?)

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Central bank predicts 30 per cent drop in output in first half of 2020 but opts against new stimulus. BoE Warns UK Set To Enter Worst Recession For 300 Years (#GotBitcoin?) The Bank of England has forecast that the coronavirus crisis will push the UK economy into its deepest recession…

California Sues Uber, Lyft Saying They Mis-classified Drivers As Independent Contractors

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Lawsuit sets up confrontation over new state law. California Sues Uber, Lyft Saying They Mis-classified Drivers As Independent Contractors California sued Uber Technologies Inc. and Lyft Inc. for allegedly misclassifying their drivers as independent contractors instead of employees, a move that intensifies a battle between the ride-hailing giants and their…

California Is First State To Borrow From Federal Government To Make Unemployment Payments

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Illinois, Connecticut receive approval for federal loans of up to $12.6 billion, $1.1 billion, respectively. California Is First State To Borrow From Federal Government To Make Unemployment Payments California has become the first state to borrow money from the federal government so it can continue paying out rising claims for…

The National Debt Has Grown To $25 Trillion!! (#GotBitcoin?)

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US Treasury Seeks To Borrow A Record $3 Trillion This Quarter. The National Debt Has Grown To $25 Trillion!! (#GotBitcoin?) Massive stimulus to support the U.S. economy through the coronavirus crisis will cause the Treasury to borrow a record $3 trillion this quarter. The department on Monday announced the total,…

Buffett ‘Killed His Reputation’ by Being Stupid About BTC, Says Max Keiser (#GotBitcoin)

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One of the most successful investors of all time, Warren Buffett might be killing his reputation by being so harsh on Bitcoin, Max Keiser believes. Buffett ‘Killed His Reputation’ by Being Stupid About BTC, Says Max Keiser (#GotBitcoin) Warren Buffett, the fifth-richest person on the planet, has repeatedly expressed his…

WeWork Troubles Take Deeper Bite Out of SoftBank (#GotBitcoin?)

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Japanese tech investor now expects $8.4 billion loss for recently ended fiscal year after it backed loans for shared-office company. WeWork Troubles Take Deeper Bite Out of SoftBank (#GotBitcoin?) SoftBank Group Corp. 9984 -0.54% said steeper-than-expected losses on office-share firm WeWork pushed its expected net loss for the latest fiscal…