North American economy in retreat

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1 month 3 weeks ago #125674 by DearJohn
DearJohn replied the topic: North American economy in retreat
Companies including Disney, the insurance giant Allstate and two major airlines announced plans to fire or furlough more than 60,000 workers in recent days, and more cuts are expected without a new federal aid package to stimulate the economy.

www.nytimes.com/2020/10/01/business/econ...ployment-claims.html

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1 month 3 weeks ago #125670 by alexgreat
alexgreat replied the topic: North American economy in retreat
Job numbers out and weaker than expected. Next month could start to reflect end of wage/job subsidy

Nonfarm payrolls rose by 661,000 in September, lower than the 800,000 Dow Jones estimate.
The unemployment rate was 7.9%, better than the 8.2% estimate.
This is the final jobs report before the November election.

www.cnbc.com/2020/10/02/jobs-report-september-2020.html

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2 months 1 week ago #125619 by Gambler
Gambler replied the topic: North American economy in retreat
Their total assets are of €1.3t and equity of €62b, accordingly, the equity is 4.7% of their total assets. Consequently, loan losses of 5% would wipe out their capital, but strategists have been discussing that the coming loan losses of Deutsche bank could top 25%. So, adding the gross derivatives exposure of $50t, a 0.1% loss would be enough to bankrupt Deutsche Bank.

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2 months 1 week ago #125618 by Gambler
Gambler replied the topic: North American economy in retreat
From 1971 the US$ has lost 98% of it's value.. WOW!!!!!!!

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2 months 1 week ago #125617 by Gambler
Gambler replied the topic: North American economy in retreat
Interesting video on current banking crisis

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2 months 2 weeks ago #125559 by alexgreat
alexgreat replied the topic: North American economy in retreat
Jobs numbers out today
Nonfarm payrolls increased by 1.37 million in August vs. Dow Jones estimates of 1.32 million.
The unemployment dropped to 8.4% from 10.2% in July and well below expectations of 9.8%.
Government hiring led the way, with gains also coming in retail and education and health services.

But here is the reality chart
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3 months 3 weeks ago #125378 by alexgreat
alexgreat replied the topic: North American economy in retreat
very good video

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4 months 3 weeks ago #125256 by RonS
RonS replied the topic: North American economy in retreat
Lots of news that could move markets this week

Federal Reserve Chair Jerome Powell and Treasury Secretary Steven Mnuchin testify before Congress on June 30 in what's expected to be a broad overview of the economy and monetary policy. The Fed's John Williams and Charles Evans also have speeches on the calendar and FOMC minutes are due out on July 1. On the economic front, reports on factory orders, trade balance, and manufacturing PMI will all pour in before the June jobs report steals the show on July 2. Economists project a gain of 3M jobs during the month to take the unemployment rate to 12.2% from 13.3%.

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4 months 3 weeks ago #125249 by RonS
RonS replied the topic: North American economy in retreat
Apple really needs the help

The central bank has purchased the bonds of 794 different companies, with the paper of Apple (NASDAQ:AAPL), Verizon (VZ), AT&T (NYSE:T), and the U.S. divisions of Toyota (NYSE:TM), Volkswagen (OTCPK:VWAGY), and Daimler (OTCPK:DDAIF) making up 10% of the amount spent. The plan is to buy $250B of debt already issued, and $500B in newly issued bonds. Fed officials have said the goal of the buying is to maintain liquidity in the market for corporate debt, so that issuers are able to access capital despite the economic downturn created by the COVID-19 pandemic.

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5 months 1 week ago #125181 by GoldnBoy
GoldnBoy replied the topic: North American economy in retreat
I wonder how much of the sales rebound is from one time government handout?

At May 6 was reported that the IRS sent 159 million stimulus checks

www.businessinsider.com/personal-finance...tions-answers-2020-4

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5 months 1 week ago #125171 by GoldnBoy
GoldnBoy replied the topic: North American economy in retreat
Have you heard, big mistake in job numbers, they were much worse

Unfortunately, after delving into the footnotes of the numbers, it now looks like the jobs report has been inaccurate for the last two months. BLS has admitted that government household survey takers mistakenly counted about 4.9 million people as employed, although they were unemployed.

Had the mistake been corrected, the unemployment rate would have risen to 16.1% in May. The corrected April figure would have been more than 19.5%—rather than 14.7%.

www.forbes.com/sites/jackkelly/2020/06/0...oyment/#4c0b250f60d3

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5 months 2 weeks ago #125155 by alexgreat
alexgreat replied the topic: North American economy in retreat
No guesses this month, here is the numbers. Surprise

The U.S. unemployment rate unexpectedly dropped to 13.3 percent in May, down from a record high in April, indicating the nation's economy is recovering faster than expected from the coronavirus lockdown.

The Labor Department said in its Friday report that employers added a stunning 2.5 million jobs in May -- the biggest increase on record. The economy shed a combined 22.1 million jobs in April and March.

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