Economy

Customers Turn Down American LNG in Growing Numbers Amid Global Supply Glut, Traders Say

American LNG exports are estimated to have dropped by around a half since January due to a collapse in demand which led to lack of storage space in overseas facilities. Buyers of US-extracted liquefied natural gas (LNG) may cancel up to 60 percent of July orders, as the energy industry is reeling from a global […]

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As US Jobless Numbers Top 38.6 Million, Billionaires’ Wealth Balloons by $434 Billion

The staggering increase in wealth inequality comes despite, or perhaps in part because of, several rounds of cash injections by the federal government to corporations, big banks and to a lesser extent, ordinary Americans which have added trillions of dollars to the US national debt. The wealthiest 600+ Americans saw their total wealth increase by […]

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Europe needs €1.5 TRILLION to recover or single market could ‘break in two’ – EU economy commissioner

The European Union urgently requires financial injections to stay afloat and survive the coronavirus epidemic currently ravaging the continent, the European commissioner for economy, Paolo Gentiloni, has warned. A whopping €1.5 trillion ($ 1.63 trillion) could be needed to “deal with this crisis,” Gentiloni told Der Spiegel ahead of the EU leaders summit on the […]

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Forget the oil prices, the whole US dollar bubble is deflating – Peter Schiff 🎞️

The drop in oil prices is likely to be short-lived, veteran stock broker Peter Schiff told RT, since the deflation of the whole US debt bubble and crash of the dollar will make the prices of oil and other commodities bounce up. Decline in demand for oil due to the coronavirus epidemic, further reinforced by […]

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American clinics report up to 400% rise in abortion requests. If there’s a Covid-19 economic collapse, this will get much worse

“Having a child right now feels like a big luxury.” Facing an out-of-control disease, a grim economic climate and with some states banning abortions as non-essential, many women are rushing to terminate their pregnancies. “Having a child right now feels like a big luxury.” Facing an out-of-control disease, a grim economic climate and with some […]

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‘Historic Yet Insufficient’: Goldman Sachs Predicts Crude Prices to Further Dip After OPEC+ Deal

Fresh market data shows that Brent as well as WTI prices briefly rebounded by 1-3 percent in the hours after the OPEC+ talks on Sunday, but then showed a downward trend, which a top Wall Street bank says is likely to continue in the coming weeks. Goldman Sachs has forecast that oil prices will continue […]

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How Record Global Cuts Brokered by Russia, Saudi Arabia, & US Will Affect Oil Market

After days of intense negotiations and video conferences OPEC+ and G20 have sealed a deal aimed at tackling the oil market imbalance. Economic analysts have explained how the newly introduced cuts will affect the market in the short- and medium-term. On Sunday, Russia, Saudi Arabia, and the US struck a deal with the world’s petroleum […]

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Covid-19 may cause deepest economic crisis ‘of our lifetimes’ — WTO chief

The coronavirus pandemic is likely to spark an unprecedented fall in global trade as well as an economic crisis rivaling the Great Depression, the head of the World Trade Organization (WTO) has warned. “We confront what may well be the deepest economic downturn of our lifetimes,” the organization’s Director General Roberto Azevedo said in a […]

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For 40 years I watched ‘rampant fraud’ on Wall Street destroy capitalism, Covid-19 nailed its coffin shut

The Covid-19 market turmoil set off a chain of flashbacks in my mind, from crisis to crisis over the past 40 years. They all fit together in a picture of Wall Street fraud and criminal policies, with the virus as the last straw. Last week, I spoke with a young stock trader currently working on […]

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The US was named the best equipped country to deal with a pandemic not a year ago — what happened there?

Just last year, the US topped a list of the countries best equipped to deal with a pandemic. But the experts have egg on their face as America spirals into Covid-19 catastrophe. What went wrong? It looks clear now that the US is going to be one of the countries worst affected by the coronavirus […]

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US stimulus just ‘another temporary bandage’ adding to massive amounts of debt – chief strategist tells Boom Bust 🎞️

The US Senate and the White House have reached an agreement on a $2 trillion relief plan to buffer the economy as fears of a deep global recession continue to mount amid the coronavirus outbreak. RT’s Boom Bust is joined by Todd Horwitz of Bubba Trading to discuss the measure and its impact on financial markets. […]

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Decadent like the late Roman Empire, the West is committing suicide through its irrational response to Covid-19

Many think Covid-19 is some kind of alien invasion that spells the end of the world. But the real threat to us is a much deadlier virus: a hatred of all the values that have underpinned our civilization for centuries. For years, I was puzzled as to why the Roman Empire ceased to exist and […]

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Here are the six countries that will be most affected by coronavirus-induced economic chaos

Time to buckle up: economists believe the looming Covid-19 crash will throw millions out of work and bankrupt thousands of businesses across the globe in a downturn that might even surpass the Great Depression of the 1930s. Economics is the study of choices, and never more so than now. It’s now clear that, with the […]

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US stocks plunge despite Fed promises to pump unlimited amount of money into economy

Wall Street’s main indices are down after opening on Monday for the first ever all-electronic trading session, which is aimed at protecting New York Stock Exchange employees from the coronavirus. Both the Dow Jones Industrial Average and the S&P 500 are down around two percent. The Nasdaq Composite, an index comprised of America’s top technology […]

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US Economy in Free Fall, Could Lose Up to 24% of GDP and Face Ocean of Unemployment Due to COVID-19

Most major global economies have already been affected by the outbreak, which has forced many workers to stay in their homes and almost entirely dried up the restaurant and hospitality industries. The US economy is facing the prospect of sustaining a heavier blow from the COVID-19 coronavirus outbreak than it suffered from the financial crisis […]

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