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U.S. home sales spike an unprecedented 24.7% in July

August 25th, 2020 at 11:45 am » Comments Off

Sales exploded in every region in the country, led by the Northeast and West The coronavirus pandemic helped shape the housing market by influencing everything from the direction of mortgage rates to the inventory of homes on the market to the types of homes in demand and the desired locations. SILVER SPRING, Md. — U.S. […]

Germany is beginning a universal-basic-income trial with people getting $1,400 a month for 3 years

August 24th, 2020 at 11:24 am » Comments Off

Starting this week, 120 Germans will receive a form of universal basic income every month for three years. The volunteers will get monthly payments of €1,200, or about $1,400, as part of a study testing a universal basic income. The study will compare the experiences of the 120 volunteers with 1,380 people who do not […]

The rise of the upper middle class

August 22nd, 2020 at 11:33 am » Comments Off

We all know that economic inequality has increased in recent decades, but just who has won and who has lost are harder questions to answer. A new study suggests that, even before the coronavirus pandemic, much of the increase in inequality was generational. People born earlier in the post-World War II decades experienced faster income […]

Quarterly sales of new cars in California down almost 50%

August 18th, 2020 at 1:51 pm » Comments Off

Rosendo Nevarez makes the rounds at John Hine Mazda in Mission Valley on May 26, cleaning surfaces to maintain hygiene standards during the COVID-19 pandemic. The numbers are in and the economic consequences wrought by the COVID-19 pandemic landed a body blow to new car sales in California, with dealers reporting a drop of 48.9 […]

Op-ed: Let’s double down on PPP and save America’s endangered small businesses

July 29th, 2020 at 12:09 pm » Comments Off

KEY POINTS We’re working to pass legislation that does two things: First, make Paycheck Protection Program funds available to eligible businesses through at least the end of this year, and second, authorize a second round of forgivable loans to the businesses most severely impacted by the pandemic. We want to double down on PPP because, […]

Elon Musk advocates for universal basic income instead of second stimulus check

July 26th, 2020 at 1:57 pm » Comments Off

Tesla CEO Elon Musk wants his followers to know he still supports universal basic income, even though he thinks another coronavirus stimulus package from the U.S. government is a bad idea. In a Twitter thread published early Friday morning, Musk tweeted that any additional stimulus package from Congress is “not in the best interests of […]

Coronavirus caused income loss for nearly half of American households

June 24th, 2020 at 2:24 am » Comments Off

  Chief Economist on U.S. recovery and how we’re ‘standing at the bottom of the canyon’  She had been working as a concierge services coordinator at a nonprofit performing arts organization in New York City for four years before the closure of entertainment venues across the city destroyed demand for her skills. “Job hunting is […]

The rich have stopped spending and that has tanked the economy

June 22nd, 2020 at 11:06 am » Comments Off

A worker paints over a Louis Vuitton storefront, boarded up after the coronavirus outbreak, on March 30 in San Francisco. The wealthiest American households are keeping a tight grip on their purse strings even as their lower-income counterparts are spending a lot more freely when they emerge from weeks of lockdown. That decline in spending […]

Say goodbye to six-figure starting salaries – with these exceptions

June 21st, 2020 at 12:05 pm » Comments Off

KEY POINTS Starting salaries for newly minted college graduates are lower almost across the board as a result of the economic fallout from Covid-19. However, some entry-level positions in tech still pay near six figures, according to new data from Glassdoor. Some entry-level job offers and internship opportunities are being rescinded, another survey found. Those […]

Almost half of Universities may be gone in 5 to 10 years, professor admits

June 19th, 2020 at 2:28 pm » Comments Off

  Scott Galloway, lecturer in Marketing at New York University, speaking at the DLD (Digital-Life-Design) conference in Munich, Germany, 18 January 2016. An NYU professor of business surmises that because of the effects of the coronavirus, anywhere from one-quarter to almost one-half of universities in the nation may go out of business in the next […]

The looming bank collapse

June 12th, 2020 at 12:08 pm » Comments Off

  The U.S. financial system could be on the cusp of calamity. This time, we might not be able to save it.  After months of living with the coronavirus pandemic, American citizens are well aware of the toll it has taken on the economy: broken supply chains, record unemployment, failing small businesses. All of these […]

San Francisco rents plunge as tech employees abandon high-priced city to work remotely

June 12th, 2020 at 11:35 am » Comments Off

Twitter, Facebook among companies that will allow employees to work remotely moving forward  Coronavirus causes ‘big movement’ out of New York City: Moving company president Roadway Moving President Ross Sapir says more people are leaving New York City for nearby states or southern states, like Florida and Texas. Coronavirus-related work-from-home policies at the country’s biggest […]

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