Economy – THE OVAL CIRCLE

Op-ed

Lee Camp: Housing is human right and US has homes & money to provide it. But it spends billions bailing out industries & banks

Posted on August 7, 2020August 7, 2020By Editor

Congress’s inability to actually represent the real-live human beings of America, combined with an economic system that rewards lack of empathy and an excess of greed, has brought us to a dark time when an oncoming tsunami of financial ruin, destitution and evictions towers over our heads, blocking out the sunlight. … Read More >Lee Camp: Housing is human right and US has homes & money to provide it. But it spends billions bailing out industries & banks

China’s exports surge in July due to demand for medical masks & other lockdown goods

Posted on August 7, 2020August 7, 2020By Editor

Data from China’s General Administration of Customs showed on Friday the country’s dollar-denominated exports rose 7.2 percent last month, well ahead of analysts’ expectations. Imports fell 1.4 percent from a year ago. … Read More >China’s exports surge in July due to demand for medical masks & other lockdown goods

Russia

Back to normality? With Covid-19 measures removed, Russian demand for cash falls to pre-crisis levels

Posted on August 5, 2020August 5, 2020By Editor

When Russians saw the destructive potential of the Covid-19 pandemic, many rushed to the bank to take out their cash. Now, just a few months later, the demand for physical money is back to levels last seen before lockdown. … Read More >Back to normality? With Covid-19 measures removed, Russian demand for cash falls to pre-crisis levels

Russia’s wealthiest lose billions due to coronavirus… but they’re still obscenely rich

Posted on August 5, 2020August 5, 2020By Editor

Russia’s richest are $27.89 billion poorer than they were at the beginning of the year, when the coronavirus started spreading across the globe, according to Bloomberg Billionaires Index (BBI). … Read More >Russia’s wealthiest lose billions due to coronavirus… but they’re still obscenely rich

Russia

Dumping the dollar: Record gold price justifies Moscow’s choice to abandon greenback & bet on precious metal

Posted on August 1, 2020August 1, 2020By Editor

Washington’s weaponization of the dollar in an effort to crush Russia’s economy seems to be backfiring. The policy encouraged Moscow to pivot to gold and this week the cost of an ounce broke the $2,000 barrier for the first time. … Read More >Dumping the dollar: Record gold price justifies Moscow’s choice to abandon greenback & bet on precious metal

China’s manufacturing recovery accelerates while global economies grapple with coronavirus fallout

Posted on August 1, 2020August 1, 2020By Editor

Chinese factory activity has beaten expectations once again, expanding for the fifth straight month and recovering at a faster pace, new data shows. … Read More >China’s manufacturing recovery accelerates while global economies grapple with coronavirus fallout

France suffers worst economic collapse on record due to Covid-19 lockdown

Posted on August 1, 2020August 1, 2020By Editor

The French economy contracted by a record 13.8 percent in the second quarter, data from the national statistics agency INSEE has revealed, highlighting the cost of coronavirus lockdowns. … Read More >France suffers worst economic collapse on record due to Covid-19 lockdown

US becoming more like Greece as national debt explodes, market analyst tells Boom Bust

Posted on August 1, 2020August 1, 2020By Editor

The US Federal Reserve left interest rates near zero and vowed to use all the tools to support the recovery from an economic downturn that Chairman Jerome Powell called the most severe “in our lifetime.” … Read More >US becoming more like Greece as national debt explodes, market analyst tells Boom Bust

Coronavirus pandemic triggers huge contraction in eurozone economy

Posted on August 1, 2020By Editor

The 19 euro-area countries experienced the biggest GDP drop on record during the height of the coronavirus pandemic. The eurozone economy shrank 12.1 percent, while the EU economy as a whole contracted 11.9 percent. … Read More >Coronavirus pandemic triggers huge contraction in eurozone economy

Dollar crash will topple the entire US ‘house of cards’ economy by year end – Peter Schiff

Posted on August 1, 2020August 1, 2020By Editor

No one seems to be worried about the falling dollar, veteran stockbroker Peter Schiff writes on Twitter, as the US currency continues to slide versus major rivals amid gold and silver record growth. … Read More >Dollar crash will topple the entire US ‘house of cards’ economy by year end – Peter Schiff