… they are aware that lifting the restrictions means they have a very serious problem. There are proposals that all past rents must be forgiven. If people have to pay back rents, this will simply be an untenable position. But that means landlords lose revenue and when mortgaged, that means they too can’t pay. This is one giant mess that can burden the economy and create a decline into 2022.
Then we have the majority are just sheep. They wear their masks and surrender all rights today and those of their children into the future. They are incapable of waking up and think the government really cares. They will be the ones with a devastating blow that will come all at once.
At least 25 companies have paid bonuses worth a
combined $24.3 million to their executives after claiming JobKeeper
subsidies, an analysis of the financial reports of 290 entities on the
ASX 300 has found
The Business Council of Australia says companies should not be paying bonuses if they are receiving JobKeeper
Governance firm Ownership Matters has criticised the lack of transparency around the JobKeeper program
“What we were doing was providing support into Victoria not just with the ADF and others, but other states, NSW in particular was offering support for tracing as was South Australia and many other states.”
…”But for that to happen you need a good information system which can task those tracing elements.”
As to why Victorian Premier Daniel Andrews did not seek out that extra help Mr Morrison said: “They are answers that only can come from Victoria, Karl, I’m afraid…”
While Mr Morrison did acknowledge there have been improvements to Victoria’s contact tracing during its outbreak, he said that could, and should,
continue to happen.
“I think the Victorian
Government have done a lot of work over the last four weeks — of necessity, clearly as well — to show that those systems have been
significantly improved,” he said.
“But I think there is a lot to learn from what’s happening in New South Wales, because they have, frankly, had the largest risks to deal with, and they have demonstrated the best capacity to deal with them and keep their state open at this day and time.”
… The “stimulus” bills signed by Trump and passed by Democrats have already given away trillions to major corporations and tens of billions in tax cuts to the richest Americans. 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.
reliable estimates put the economic collapse at the
beginning of the Depression in 1928-29 at 6.2 per cent … … the economy fell a further 9.7 per cent in 1929-30 and… another 2.1 per cent in 1930-31.
Economist Terry Rawnsley from SGS Economics and Planning said it was the
three years of constant, severe economic decline that marked out the Depression as unique.
…head of the Australian Bureau of Statistics, David Gruen made a similar observation “What turned a recession in the 1930s into the Great Depression was the continued collapse in economic output for the subsequent two years,….”
…The continued falls in economic activity saw unemployment surge from 4.2 per cent to a peak of almost 20 per cent, and then remain above 11 per
cent until the mid-1930s.
A few months ago,we publishedan amusing account of how the Ken Griffin-owned HFT firm Citadel sicced its army of white-shoe lawyers on Zero Hedge after we dared to explain to our audience exactly why RobinHood – and now its discount brokerage predecessors, all of whom have followed RH’s lead and abandoned trading fees – can afford to charge its clients nothing: Because the company takes all of that retail order flow and auctions it off to the highest HFT bidder, enabling them to profit by – and we want to be very careful with our language here – “trading ahead of customer orders,” a practice otherwise known as “front-running”.
With so many mom-and-pop traders parlaying their stimulus checks and enhanced unemployment benefits in the stock market, our warnings were promptly ignored (hardly a surprise – nobody cares when things are going good).
But as the S&P 500 roars to yet another record high – accompanied this time by a disconcerting rebound in the VIX –WSJ reportsthat the SEC is almost ready to slap Robinhood with a $10 million fine for failing to disclose to its customers exactly how their order flow would be packaged and sold to the HFT firms.
The Fed’s Big Lie Tyler Durden Sat, 08/29/2020 – 12:05
Authored by Adam Taggart via PeakProsperity.com,
Insanity is doing the same thing over and over again, but expecting different results. Federal Reserve Chairman Jerome Powell announced on Thursday that the Fed will now shift its focus from hitting inflation targets and instead prioritize closing “unemployment…
President of Belarus Alexander Lukashenko has reached an agreement with Vladimir Putin to refinance Minsk’s 1 billion dollars debt owed to Russia.
“We have agreed with the President of Russia, and today our Prime Minister will hold talks with Mikhail Mishustin about refinancing,” said Lukashenko at a meeting on the development of the essential organizations of the Ministry of Industry.
“That is, we will keep this billion dollars loan, as agreed with Russia, we will keep it,” he explained, adding that it “will be a good reinforcement for our national currency.”…