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California Has 2nd Lowest Homeownership Rate In U.S.

California Has 2nd Lowest Homeownership Rate In U.S.

Mike LaFirenza Income inequality has been a major social, political, and economic issue since the Great Recession, and the uneven effects of the COVID-19 economy has only made the gaps between America’s haves and have-nots even starker. These divergent economic fortunes will continue to have a major effect on housing in the U.S. During the […]

China Yuan Swaps Soar Amid Fears Evergrande Default Will Lead To Liquidity Crisis

China Yuan Swaps Soar Amid Fears Evergrande Default Will Lead To Liquidity Crisis

BY Tyler Durden | ZeroHedge The initial contagion from the upcoming default of Evergrande, which after the company’s hiring of bankruptcy advisor Houlihan Lokey is just a matter of days, is starting to emerge. China’s one-year onshore swap curves surged to the highest in almost four years, signaling market worries over liquidity shortage on potential default […]

Endgame Begins: Evergrande Hires Bankruptcy Advisors As Furious Investors Protest Imminent Default

Endgame Begins: Evergrande Hires Bankruptcy Advisors As Furious Investors Protest Imminent Default

BY Tyler Durden | ZeroHedge It took Evergrande less than a day to go from denying “rumors” of bankruptcy (as per a statement posted on its website earlier today), to confirming that a bankruptcy is imminent. In a filing on the Hong Kong stock exchange on Tuesday, Evergrande which was busy trying to convince angry Chinese mobs that […]

Evergrande Denies Rumors Of Bankruptcy As Crisis Boils Over, Social Unrest Breaks Out Across China

Evergrande Denies Rumors Of Bankruptcy As Crisis Boils Over, Social Unrest Breaks Out Across China

BY Tyler Durden | ZeroHedge China Evergrande Group, the largest and most indebted, and certainly most insolvent property developer in China, is – together with its $300+ billion in debt – rapidly approaching its “China moment.” Five days after reports of a technical default at Evergrande, which slammed China’s property market and sent Chinese junk […]

Democrat Select Committee On Wealth Inequality Sparks Controversy

Democrat Select Committee On Wealth Inequality Sparks Controversy

By Casey Harper | The Center Square (The Center Square) – The House Democrats’ new select committee on wealth inequality is sparking controversy. The select committee was created in January of this year, but its seats remained empty until this week. House Speaker Nancy Pelosi, D-Calif., announced eight members this week to make up the committee, […]

Here’s How Much More Jeff Bezos And Walmart Heirs Made Than Their Employees During The Pandemic

Here’s How Much More Jeff Bezos And Walmart Heirs Made Than Their Employees During The Pandemic

THOMAS CATENACCI CONTRIBUTOR Amazon CEO Jeff Bezos and the Walmart heirs have made 35 times the amount given to their companies’ roughly 2.5 million workers during the pandemic, according to a Brookings Institution report. Amazon and Walmart gave employees just $0.99 and $0.71 extra per hour over the course of the pandemic, which was significantly less […]

US Household Net Worth Surged to Record High in 2nd Quarter

US Household Net Worth Surged to Record High in 2nd Quarter

BY TOM OZIMEK   American household wealth has hit a historic high, with savings accounts and equity portfolios seeing a big boost from federal pandemic relief and surging stock markets, according to a Federal Reserve report. The Fed’s most recent Flow of Funds report, released Sept. 21, provides a snapshot of the wealth and income of U.S. households and […]

Many Are the Ways in Which the Corona Virus Extorts Wealth Or, How Enforced Solitude Invites Materialism

Many Are the Ways in Which the Corona Virus Extorts Wealth Or, How Enforced Solitude Invites Materialism

    By Sigrid Weidenweber We all know the material costs of dealing with the epidemic—the huge supplies needed to keep people safe, hygienic, and, supplied with life-saving ventilators and drugs. Then there is the economy—it is ticking along anemically, loosing billions every week because of the shut-down. Add to that the huge amounts lost […]

NEWS ANALYSIS | Will California’s ‘Temporary’ Tax on Wealth Ever Fade Away?

NEWS ANALYSIS | Will California’s ‘Temporary’ Tax on Wealth Ever Fade Away?

BY BRAD JONES   When Californians voted to “temporarily” raise taxes to fund education on Nov. 6, 2012, they probably never expected the hikes would linger in one form or another until 2030, but that’s exactly what happened. Prop. 30, officially tagged as “Temporary Taxes to Fund Education,” was billed as a ballot measure to increase taxes to […]

L. Neil Smith’s The Libertarian Enterprise | Meet Me In St Louis

L. Neil Smith’s The Libertarian Enterprise | Meet Me In St Louis

  By L. Neil Smith   Sometime soon, I want you to do something for me — and for yourself. Click on: http://www.zianet.com/jjohnson/stlouis.htm I want you to go someplace that rents classic films and check out Meet Me in St. Louis, a swell old MGM musical with Judy Garland, Leon Ames, Mary Astor, Marjorie Main, […]

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