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Bank runs and bank failures is the new reality in many countries as credit crunch is becoming a challenge within this world economic collapse. Some of the biggest banks in … Read more
By Tsvetana Paraskova ExxonMobil is axing capital expenditure for this year by $10 billion, quantifying on Tuesday the capex cuts it announced last month in response to the oil demand and oil … Read more
Bank runs and bank failures is the new reality in many countries as credit crunch is becoming a challenge within this world economic collapse. Some of the biggest banks in … Read more
by Michael Snyder The cascading failures that have been set into motion by this “coronavirus shutdown” are going to make the financial crisis of 2008 look like a Sunday picnic. … Read more
KAMPALA, Uganda — Some of Uganda’s poorest people used to work here, on the streets of Kampala, as fruit sellers sitting on the pavement or as peddlers of everything from … Read more
BY SRSROCCO In the past two weeks, analysts have cut their global oil demand forecasts by a staggering 225%. Never in history has the world experienced such a massive reduction … Read more
by Dave Kranzler of Investment Research Dynamics The Comex Does Not Trade Gold Unequivocally, gold does not trade on the Comex. The Comex trades paper gold derivatives. It is a futures and options … Read more
As millions of Americans spend quality time with their families to avoid the global pandemic, box office sales across the US have predictably cratered – falling to just $5,179 from March 20 through March … Read more
by Michael Snyder Approximately ten million Americans have filed new claims for unemployment benefits over the past two weeks. To put that in perspective, the all-time record for a single … Read more
Sales at luxury goods stores, once the largest category, collapsed by 86% since their peak in 2013-2014. By Nick Corbishley, for WOLF STREET: As Hong Kong tourist arrivals collapsed by 96% in … Read more
Services account for 70% of the US economy. Here’s what’s happening to services and retail in economic powerhouse Texas. By Wolf Richter for WOLF STREET: The Texas Service Sector Outlook Survey, released by … Read more
from Financial Survival Network John Rubino returns… It seems like this crisis has been going on forever now. To think that just a few short weeks ago everything was relatively normal. And … Read more
“We are temporarily a company with no product and no revenue.” By Nick Corbishley, for WOLF STREET: TUI, the global travel and vacation giant that owns six European airlines, 1,600 travel agencies, … Read more
via silverdoctors SD Outlook: This week, people will likely come to terms with the stark reality of facing economic collapse along with the collapse of US healthcare… Is this the week … Read more
by GreyFox78659 Just wait until they ban the people reporting on the municipal bankruptcies and the fact that the bond market collapse that caused them is not related to Covid … Read more
nobody will come visit NYC now. The state will go bankrupt nypost.com/2020/03/29/mtas-24-hour-coronavirus-hotline-keeps-crashing-as-workers-are-ravaged-by-crisis/ The MTA’s 24-hour hot line for workers with coronavirus symptoms is constantly crashing because it’s being flooded with … Read more