"Every day that passes without an extension of supplemental unemployment benefits brings greater and greater pain for tens of millions of families," Stettner said. Source: https://tinyurl.com/y6em55l7
i have friends in 3 families who r really struggling badly now thxs to trump leadership
"I'm the MOST HONEST human being that GOD EVER created!" - Donald "the felon" Trump
Quote Originally Posted by fubah2:
"Every day that passes without an extension of supplemental unemployment benefits brings greater and greater pain for tens of millions of families," Stettner said. Source: https://tinyurl.com/y6em55l7
i have friends in 3 families who r really struggling badly now thxs to trump leadership
American Airlines is dropping service to these 15 cities. This is likely only the beginning
By Jackie Wattles, CNN Business Updated 2:59 PM ET, Thu August 20, 2020
Though airlines have drastically reduced the number of flights they're operating, major carriers that accepted federal aid through the CARES Act earlier this year have so far been barred from cutting off service to an entire market.
But that requirement expires this fall, and American Airlines has already notified 25,000 workers that they may be furloughed beginning October 1. The company has said it supports a CARES Act extension through March 2021, however. Small-city airports have already been hit particularly hard by the pandemic's economic fallout, and if airlines stop serving certain areas altogether, it could leave a smattering of air travel "deserts" that will make it more difficult for those locations to bring their economies back to life when the pandemic subsides. https://tinyurl.com/y55tjvda
American Airlines is dropping service to these 15 cities. This is likely only the beginning
By Jackie Wattles, CNN Business Updated 2:59 PM ET, Thu August 20, 2020
Though airlines have drastically reduced the number of flights they're operating, major carriers that accepted federal aid through the CARES Act earlier this year have so far been barred from cutting off service to an entire market.
But that requirement expires this fall, and American Airlines has already notified 25,000 workers that they may be furloughed beginning October 1. The company has said it supports a CARES Act extension through March 2021, however. Small-city airports have already been hit particularly hard by the pandemic's economic fallout, and if airlines stop serving certain areas altogether, it could leave a smattering of air travel "deserts" that will make it more difficult for those locations to bring their economies back to life when the pandemic subsides. https://tinyurl.com/y55tjvda
trump's proposed cuts to Medicare will be devastating to surgeons and their patients CNN Business Perspectives Updated 11:42 AM ET, Thu August 20, 2020 Previously trump had PROMISED he would NOT make any cuts to Medicare
Democrats in the house will never ok such a budget, and unlikely to pass the Senate too.
Quote Originally Posted by fubah2:
trump's proposed cuts to Medicare will be devastating to surgeons and their patients CNN Business Perspectives Updated 11:42 AM ET, Thu August 20, 2020 Previously trump had PROMISED he would NOT make any cuts to Medicare
Democrats in the house will never ok such a budget, and unlikely to pass the Senate too.
Quote Originally Posted by fubah2: trump's proposed cuts to Medicare will be devastating to surgeons and their patients CNN Business Perspectives Updated 11:42 AM ET, Thu August 20, 2020 Previously trump had PROMISED he would NOT make any cuts to Medicare Democrats in the house will never ok such a budget, and unlikely to pass the Senate too.
Democrats won't accept any cuts to Medicare.
Quote Originally Posted by fubah2:
Quote Originally Posted by fubah2: trump's proposed cuts to Medicare will be devastating to surgeons and their patients CNN Business Perspectives Updated 11:42 AM ET, Thu August 20, 2020 Previously trump had PROMISED he would NOT make any cuts to Medicare Democrats in the house will never ok such a budget, and unlikely to pass the Senate too.
Quote Originally Posted by fubah2: Quote Originally Posted by fubah2: trump's proposed cuts to Medicare will be devastating to surgeons and their patients CNN Business Perspectives Updated 11:42 AM ET, Thu August 20, 2020 Previously trump had PROMISED he would NOT make any cuts to Medicare Democrats in the house will never ok such a budget, and unlikely to pass the Senate too.Democrats won't accept any cuts to Medicare.
Really doubt that how many Republican and Trumpster retirees will be supporting Trump's Medicare cuts. Can't imagine ideology make people idiotic and dump.
Quote Originally Posted by fubah2:
Quote Originally Posted by fubah2: Quote Originally Posted by fubah2: trump's proposed cuts to Medicare will be devastating to surgeons and their patients CNN Business Perspectives Updated 11:42 AM ET, Thu August 20, 2020 Previously trump had PROMISED he would NOT make any cuts to Medicare Democrats in the house will never ok such a budget, and unlikely to pass the Senate too.Democrats won't accept any cuts to Medicare.
Really doubt that how many Republican and Trumpster retirees will be supporting Trump's Medicare cuts. Can't imagine ideology make people idiotic and dump.
Really doubt that how many Republican and Trumpster retirees will be supporting Trump's Medicare cuts. Can't imagine ideology make people idiotic and dump.
thats true too . the old redneckfarts r a sizable part of his base and they need every dollar particularly because of this pandemic mess ttrump put them all in
"I'm the MOST HONEST human being that GOD EVER created!" - Donald "the felon" Trump
Quote Originally Posted by Europa:
Democrats won't accept any cuts to Medicare.
Really doubt that how many Republican and Trumpster retirees will be supporting Trump's Medicare cuts. Can't imagine ideology make people idiotic and dump.
thats true too . the old redneckfarts r a sizable part of his base and they need every dollar particularly because of this pandemic mess ttrump put them all in
Quote Originally Posted by Europa: Democrats won't accept any cuts to Medicare. Really doubt that how many Republican and Trumpster retirees will be supporting Trump's Medicare cuts. Can't imagine ideology make people idiotic and dump.thats true too . the old redneckfarts r a sizable part of his base and they need every dollar particularly because of this pandemic mess ttrump put them all in
Yes. Over 20% someone said.
Quote Originally Posted by KellyM_1964:
Quote Originally Posted by Europa: Democrats won't accept any cuts to Medicare. Really doubt that how many Republican and Trumpster retirees will be supporting Trump's Medicare cuts. Can't imagine ideology make people idiotic and dump.thats true too . the old redneckfarts r a sizable part of his base and they need every dollar particularly because of this pandemic mess ttrump put them all in
Mets become 10th team to postpone game as two players test positive
The Thursday evening game between the New York Met and Miami Marlins was postponed after two Mets players tested positive for the coronavirus, Major League Baseball announced.
The Mets become the 10th team with a postponement related to COVID-19, meaning one-third of MLB teams have had a game pushed back.
Sports in jeopardy because of trump.
Mets become 10th team to postpone game as two players test positive
The Thursday evening game between the New York Met and Miami Marlins was postponed after two Mets players tested positive for the coronavirus, Major League Baseball announced.
The Mets become the 10th team with a postponement related to COVID-19, meaning one-third of MLB teams have had a game pushed back.
The word you are guaranteed to hear uttered most frequently at the Republican National Convention is "Democrats"
This will be closely followed by names/words including: Biden, Obama, Pelosi, crooked Hillary, Cam-uh-la Harris, "HOAX", "witch hunt" China.
Words, names, and phrases we are NOT likely to hear much if at all include:
I alone can fix it drain the swamp Russian bounties yosa-might national park IMPEACHED president disinfectant hydroxchloroquine cure preventable death toll record budget deficit crippling national debts record opioid deaths worst unemployment since great depression my low approval ratings the Kurds cognitive test Dr. Fauci George Floyd Breonna Taylor Rudy Giuliani Vladimir Putin General Mattis General Kelly John Bolton Michael Cohen Mayanne trump-Barry Mary trump Miles Taylor (former DHS) Steve Bannon Stormy Daniels
The word you are guaranteed to hear uttered most frequently at the Republican National Convention is "Democrats"
This will be closely followed by names/words including: Biden, Obama, Pelosi, crooked Hillary, Cam-uh-la Harris, "HOAX", "witch hunt" China.
Words, names, and phrases we are NOT likely to hear much if at all include:
I alone can fix it drain the swamp Russian bounties yosa-might national park IMPEACHED president disinfectant hydroxchloroquine cure preventable death toll record budget deficit crippling national debts record opioid deaths worst unemployment since great depression my low approval ratings the Kurds cognitive test Dr. Fauci George Floyd Breonna Taylor Rudy Giuliani Vladimir Putin General Mattis General Kelly John Bolton Michael Cohen Mayanne trump-Barry Mary trump Miles Taylor (former DHS) Steve Bannon Stormy Daniels
Trump's $300 supplemental unemployment benefit is 'too little too late,' Goldman Sachs says
CNN Business, Mon August 24, 2020
New York (CNN Business)Goldman Sachs analysts slammed President Trump's $300 supplemental unemployment benefit as "too little too late," and warned that consumer spending may take a hit this month.
Goldman Sachs says the lapse in the bigger insurance payments will result in a roughly $70 billion decline in monthly personal income in August.
Source: https://tinyurl.com/yxdldzc3
Trump's $300 supplemental unemployment benefit is 'too little too late,' Goldman Sachs says
CNN Business, Mon August 24, 2020
New York (CNN Business)Goldman Sachs analysts slammed President Trump's $300 supplemental unemployment benefit as "too little too late," and warned that consumer spending may take a hit this month.
Goldman Sachs says the lapse in the bigger insurance payments will result in a roughly $70 billion decline in monthly personal income in August.
We'll be stuck in this recession for years, economists say
CNN Business, Mon August 24, 2020
New York (CNN Business) America remains in a deep downturn and is running a serious risk of a worsening recession that will last at least another year, economists warned Monday.
About half of the National Association of Business Economists members expect US gross domestic product — the broadest measure of the economy — won't return to its pre-pandemic level until 2022.
A majority of those experts also say the US job market will not be back to its February level until 2022 at the earliest.
Nearly 80% say there is a one-in-four chance of a double-dip recession - - an economic downturn that begins to recover, then worsens again, before fully recovering.
NABE's findings are based on 235 responses to its August economic policy survey.
All of this economic turmoil is taking place in an election year. The majority of surveyed experts — 62% — said Democratic candidate and former Vice President Joe Biden, would be better for US economic growth than President Donald Trump.
We'll be stuck in this recession for years, economists say
CNN Business, Mon August 24, 2020
New York (CNN Business) America remains in a deep downturn and is running a serious risk of a worsening recession that will last at least another year, economists warned Monday.
About half of the National Association of Business Economists members expect US gross domestic product — the broadest measure of the economy — won't return to its pre-pandemic level until 2022.
A majority of those experts also say the US job market will not be back to its February level until 2022 at the earliest.
Nearly 80% say there is a one-in-four chance of a double-dip recession - - an economic downturn that begins to recover, then worsens again, before fully recovering.
NABE's findings are based on 235 responses to its August economic policy survey.
All of this economic turmoil is taking place in an election year. The majority of surveyed experts — 62% — said Democratic candidate and former Vice President Joe Biden, would be better for US economic growth than President Donald Trump.
American Airlines will lay off 19,000 workers if it doesn't get additional federal help
CNN Business, Tue August 25, 2020
New York (CNN Business)American Airlines says it will lay off or involuntarily furlough 19,000 employees as of October 1 unless the airline industry gets more help from Congress. The world's largest airline, which had 133,700 employees heading into this year, says it will need to reduce headcount by "at least" 40,000 employees. It said that 12,500 had agreed to leave the company with early retirement or buyout packages, and another 11,000 had agreed to voluntary furloughs for October. "Even with those sacrifices, approximately 19,000 of our team members will be involuntarily furloughed or separated from the company on October 1, unless there is an extension of the [federal help]," said the letter that American CEO Doug Parker and President Robert Isom sent to employees. American said layoff notices were sent out Tuesday to 17,500 employees.
"That is obviously not the case. Based on current demand levels, we at American now plan to fly less than 50% of our airline in the fourth quarter, with long-haul international particularly reduced to only 25% of 2019 levels," they added.
American Airlines will lay off 19,000 workers if it doesn't get additional federal help
CNN Business, Tue August 25, 2020
New York (CNN Business)American Airlines says it will lay off or involuntarily furlough 19,000 employees as of October 1 unless the airline industry gets more help from Congress. The world's largest airline, which had 133,700 employees heading into this year, says it will need to reduce headcount by "at least" 40,000 employees. It said that 12,500 had agreed to leave the company with early retirement or buyout packages, and another 11,000 had agreed to voluntary furloughs for October. "Even with those sacrifices, approximately 19,000 of our team members will be involuntarily furloughed or separated from the company on October 1, unless there is an extension of the [federal help]," said the letter that American CEO Doug Parker and President Robert Isom sent to employees. American said layoff notices were sent out Tuesday to 17,500 employees.
"That is obviously not the case. Based on current demand levels, we at American now plan to fly less than 50% of our airline in the fourth quarter, with long-haul international particularly reduced to only 25% of 2019 levels," they added.
Exxon was the world's largest company in 2013. Now it's being kicked out of the Dow
CNN Business, Tue August 25, 2020
Exxon is now losing money for the first time in decades. Its long track record of raising the dividend is in doubt. Exxon is the poster child for the fossil fuels industry at a time of deep concern about the climate crisis. And the company's market value has crumbled by a staggering $267 billion from the peak.
The latest humiliation for Exxon: It's being kicked out of the Dow Jones Industrial Average, the exclusive index it's been a part of for 92 years. Fittingly, given the swings in fortune in the modern economy and stock market, Exxon is being replaced by a technology company: Salesforce
"It's pretty symbolic," said Stewart Glickman, energy analyst at CFRA Research. "It's a recognition that the energy sector doesn't have anywhere near the same clout it used to."
Exxon was the world's largest company in 2013. Now it's being kicked out of the Dow
CNN Business, Tue August 25, 2020
Exxon is now losing money for the first time in decades. Its long track record of raising the dividend is in doubt. Exxon is the poster child for the fossil fuels industry at a time of deep concern about the climate crisis. And the company's market value has crumbled by a staggering $267 billion from the peak.
The latest humiliation for Exxon: It's being kicked out of the Dow Jones Industrial Average, the exclusive index it's been a part of for 92 years. Fittingly, given the swings in fortune in the modern economy and stock market, Exxon is being replaced by a technology company: Salesforce
"It's pretty symbolic," said Stewart Glickman, energy analyst at CFRA Research. "It's a recognition that the energy sector doesn't have anywhere near the same clout it used to."
American Airlines will lay off 19,000 workers if it doesn't get additional federal help CNN Business, Tue August 25, 2020 New York (CNN Business)
The pandemic's financial impact on airlines will be worse than the 9/11 attacks
CNN Business Perspectives, Tue August 25, 2020
As a result of the pandemic, losses in the first half of 2020 have been unprecedented.
For example, Delta Air Lines, the most profitable US airline in recent years, saw its revenues plunge 56% and its operating margin flip from a healthy 14% to negative 40%. And the current outlook for the third quarter is not much better. By contrast, after theterror attacks, Delta's revenues dropped 25% in the second half of 2001 and its margin was negative 22%.
Still, airlines will, at best, scrape by this year and emerge from the effects of the pandemic in 2021 or 2022 with more debt and reduced earnings capacity.
S&P Global Ratings has lowered its ratings on all US airlines, and only Southwest Airlines currently remains investment grade.
American Airlines will lay off 19,000 workers if it doesn't get additional federal help CNN Business, Tue August 25, 2020 New York (CNN Business)
The pandemic's financial impact on airlines will be worse than the 9/11 attacks
CNN Business Perspectives, Tue August 25, 2020
As a result of the pandemic, losses in the first half of 2020 have been unprecedented.
For example, Delta Air Lines, the most profitable US airline in recent years, saw its revenues plunge 56% and its operating margin flip from a healthy 14% to negative 40%. And the current outlook for the third quarter is not much better. By contrast, after theterror attacks, Delta's revenues dropped 25% in the second half of 2001 and its margin was negative 22%.
Still, airlines will, at best, scrape by this year and emerge from the effects of the pandemic in 2021 or 2022 with more debt and reduced earnings capacity.
S&P Global Ratings has lowered its ratings on all US airlines, and only Southwest Airlines currently remains investment grade.
International and business travel won't recover quickly
The outlook for airline passengers is uncertain, at least in the short term. The threat of infection is compelling new restrictions and procedures at airports and on board. Given what we've learned from how coronavirus spreads around the world, governments may be quicker to shut down air travel in response to any new outbreak.
Business travel has been hit particularly hard and will take years to recover.
Will video conferencing (and corporate cost cutting) permanently replace a large share of corporate travel? The trips for marketing or relationship purposes should mostly recover, but the hurdle to justify other corporate travel, particularly internationally, will no doubt be higher.
Covid-19 will destroy several years of growth and leave a smaller and poorer global travel industry, but air travel will eventually get back on the path toward an upward trend.
International and business travel won't recover quickly
The outlook for airline passengers is uncertain, at least in the short term. The threat of infection is compelling new restrictions and procedures at airports and on board. Given what we've learned from how coronavirus spreads around the world, governments may be quicker to shut down air travel in response to any new outbreak.
Business travel has been hit particularly hard and will take years to recover.
Will video conferencing (and corporate cost cutting) permanently replace a large share of corporate travel? The trips for marketing or relationship purposes should mostly recover, but the hurdle to justify other corporate travel, particularly internationally, will no doubt be higher.
Covid-19 will destroy several years of growth and leave a smaller and poorer global travel industry, but air travel will eventually get back on the path toward an upward trend.
US consumer confidence falls to its lowest level in six years
CNN Business, Tue August 25, 2020
Consumer confidence fell for the second-straight month in August to its lowest level in six years as Americans worry about the fragile economic recovery and an uncertain job market. A survey that measures how Americans feel about current economic and business conditions, conducted by the nonprofit research group The Conference Board, came in at its lowest level since 2014, and was worse than economists expected.
"This signals that consumers, in the face of still-high virus cases and signs of slowing employment opportunities, are becoming more cautious in their view of the continued healing of the economy"
Between July and August, consumers' views of the current and future business and labor market conditions worsened. So what changed in that time period? At 10.2%, the unemployment rate remains higher than it was during the peak of the Great Recession. In addition, the federal boost of $600 to weekly unemployment benefits dried up at the end of July, leaving millions of Americans struggling to make ends meet. (on trump's watch) Source: https://tinyurl.com/y5a7b87w
Another result of trump's pandemic failure:
US consumer confidence falls to its lowest level in six years
CNN Business, Tue August 25, 2020
Consumer confidence fell for the second-straight month in August to its lowest level in six years as Americans worry about the fragile economic recovery and an uncertain job market. A survey that measures how Americans feel about current economic and business conditions, conducted by the nonprofit research group The Conference Board, came in at its lowest level since 2014, and was worse than economists expected.
"This signals that consumers, in the face of still-high virus cases and signs of slowing employment opportunities, are becoming more cautious in their view of the continued healing of the economy"
Between July and August, consumers' views of the current and future business and labor market conditions worsened. So what changed in that time period? At 10.2%, the unemployment rate remains higher than it was during the peak of the Great Recession. In addition, the federal boost of $600 to weekly unemployment benefits dried up at the end of July, leaving millions of Americans struggling to make ends meet. (on trump's watch) Source: https://tinyurl.com/y5a7b87w
Vice President Mike Pence claimed in his RNC appearance, "We were setting records in this economy left and right."
Stock market records, yes. But the stock market is not the economy. Roughly half of American households own NO stocks. And the wealthiest households hold the vast majority of stock market wealth.
Trump, though, does not appear concerned about seeming out of touch with struggling Americans.
He is rebranding the recession as a Trump success.
And it just might work. For whatever reason, Trump, especially among Republicans, gets high marks for his stewardship of the economy, even in a pandemic. This New York Times' polling tells the story. Eight in 10 Republicans who lost a job during the recession and are still out of work approve of how Trump has handled the pandemic.
Source: CNN Business
Vice President Mike Pence claimed in his RNC appearance, "We were setting records in this economy left and right."
Stock market records, yes. But the stock market is not the economy. Roughly half of American households own NO stocks. And the wealthiest households hold the vast majority of stock market wealth.
Trump, though, does not appear concerned about seeming out of touch with struggling Americans.
He is rebranding the recession as a Trump success.
And it just might work. For whatever reason, Trump, especially among Republicans, gets high marks for his stewardship of the economy, even in a pandemic. This New York Times' polling tells the story. Eight in 10 Republicans who lost a job during the recession and are still out of work approve of how Trump has handled the pandemic.
Quote Originally Posted by fubah2: American Airlines will lay off 19,000 workers if it doesn't get additional federal help CNN Business, Tue August 25, 2020 New York (CNN Business) The pandemic's financial impact on airlines will be worse than the 9/11 attacks CNN Business Perspectives, Tue August 25, 2020 As a result of the pandemic, losses in the first half of 2020 have been unprecedented. For example, Delta Air Lines, the most profitable US airline in recent years, saw its revenues plunge 56% and its operating margin flip from a healthy 14% to negative 40%. And the current outlook for the third quarter is not much better. By contrast, after theterror attacks, Delta's revenues dropped 25% in the second half of 2001 and its margin was negative 22%. Still, airlines will, at best, scrape by this year and emerge from the effects of the pandemic in 2021 or 2022 with more debt and reduced earnings capacity. S&P Global Ratings has lowered its ratings on all US airlines, and only Southwest Airlines currently remains investment grade. Source: https://tinyurl.com/y6j4rlle
the airlines r screwed . passenger traffic foreign and domestic is way down and likely to continue . this means massive layoffs in october and businesses inside airports will suffer as well as all those small businesses supporting the airline industry . its a nightmare
"I'm the MOST HONEST human being that GOD EVER created!" - Donald "the felon" Trump
Quote Originally Posted by fubah2:
Quote Originally Posted by fubah2: American Airlines will lay off 19,000 workers if it doesn't get additional federal help CNN Business, Tue August 25, 2020 New York (CNN Business) The pandemic's financial impact on airlines will be worse than the 9/11 attacks CNN Business Perspectives, Tue August 25, 2020 As a result of the pandemic, losses in the first half of 2020 have been unprecedented. For example, Delta Air Lines, the most profitable US airline in recent years, saw its revenues plunge 56% and its operating margin flip from a healthy 14% to negative 40%. And the current outlook for the third quarter is not much better. By contrast, after theterror attacks, Delta's revenues dropped 25% in the second half of 2001 and its margin was negative 22%. Still, airlines will, at best, scrape by this year and emerge from the effects of the pandemic in 2021 or 2022 with more debt and reduced earnings capacity. S&P Global Ratings has lowered its ratings on all US airlines, and only Southwest Airlines currently remains investment grade. Source: https://tinyurl.com/y6j4rlle
the airlines r screwed . passenger traffic foreign and domestic is way down and likely to continue . this means massive layoffs in october and businesses inside airports will suffer as well as all those small businesses supporting the airline industry . its a nightmare
The Fed's new strategy could keep rates low for longer than you think
CNN Business, Thu August 27, 2020
Critics argue the Fed's obsession with generating 2% inflation is misplaced. Peter Boockvar, chief investment officer at Bleakley Advisory Group, argued in a note to clients Thursday that the Fed's preferred measures of inflation are "flawed" because they are dragged down by healthcare costs that are largely fixed by the government through Medicare and Medicaid. He pointed out that average core consumer prices is exactly 2% since 2000.
"Letting inflation run above 2% for a period of time hurts the least-able to afford it. In other words, LOWER real wages is a growth depressant," Boockvar wrote.
The Fed acknowledged these challenges. "We are certainly mindful that higher prices for essential items, such as food, gasoline, and shelter, add to the burdens faced by many families, especially those struggling with lost jobs and incomes," Powell said
The Fed's new strategy could keep rates low for longer than you think
CNN Business, Thu August 27, 2020
Critics argue the Fed's obsession with generating 2% inflation is misplaced. Peter Boockvar, chief investment officer at Bleakley Advisory Group, argued in a note to clients Thursday that the Fed's preferred measures of inflation are "flawed" because they are dragged down by healthcare costs that are largely fixed by the government through Medicare and Medicaid. He pointed out that average core consumer prices is exactly 2% since 2000.
"Letting inflation run above 2% for a period of time hurts the least-able to afford it. In other words, LOWER real wages is a growth depressant," Boockvar wrote.
The Fed acknowledged these challenges. "We are certainly mindful that higher prices for essential items, such as food, gasoline, and shelter, add to the burdens faced by many families, especially those struggling with lost jobs and incomes," Powell said
Even Corporate America thinks the stock market is overvalued
CNN Business, Thu August 27, 2020
New York (CNN Business) A stunning 84% of Fortune 500 CFOs say the US stock market is overvalued, according to a survey released Thursday by Deloitte. That's up from the 55% who felt that way a quarter ago. Just 2% of finance chiefs say US stocks are undervalued. The findings add to the mounting evidence suggesting the slingshot rise in stocks created in part by the Federal Reserve may be overdone.
Even as elevated levels of unemployment show that the real economy is still suffering from the pandemic, the S&P 500 has skyrocketed 55% since its March 23 lows.
For the first time in the decade Deloitte has been doing the survey, CFOs were more bullish on the Chinese economy than on North America's. Deloitte said the findings suggest "growing skepticism about the pace going forward."
Even Corporate America thinks the stock market is overvalued
CNN Business, Thu August 27, 2020
New York (CNN Business) A stunning 84% of Fortune 500 CFOs say the US stock market is overvalued, according to a survey released Thursday by Deloitte. That's up from the 55% who felt that way a quarter ago. Just 2% of finance chiefs say US stocks are undervalued. The findings add to the mounting evidence suggesting the slingshot rise in stocks created in part by the Federal Reserve may be overdone.
Even as elevated levels of unemployment show that the real economy is still suffering from the pandemic, the S&P 500 has skyrocketed 55% since its March 23 lows.
For the first time in the decade Deloitte has been doing the survey, CFOs were more bullish on the Chinese economy than on North America's. Deloitte said the findings suggest "growing skepticism about the pace going forward."
Even Corporate America thinks the stock market is overvalued CNN Business, Thu August 27, 2020 New York (CNN Business)A stunning 84% of Fortune 500 CFOs say the US stock market is overvalued, according to a survey released Thursday by Deloitte. That's up from the 55% who felt that way a quarter ago. Just 2% of finance chiefs say US stocks are undervalued.The findings add to the mounting evidence suggesting the slingshot rise in stocks created in part by the Federal Reserve may be overdone. Even as elevated levels of unemployment show that the real economy is still suffering from the pandemic, the S&P 500 has skyrocketed 55% since its March 23 lows. For the first time in the decade Deloitte has been doing the survey, CFOs were more bullish on the Chinese economy than on North America's.Deloitte said the findings suggest "growing skepticism about the pace going forward."
happening at the same time as many people r being forced to pull out of the markets
"I'm the MOST HONEST human being that GOD EVER created!" - Donald "the felon" Trump
Quote Originally Posted by fubah2:
Even Corporate America thinks the stock market is overvalued CNN Business, Thu August 27, 2020 New York (CNN Business)A stunning 84% of Fortune 500 CFOs say the US stock market is overvalued, according to a survey released Thursday by Deloitte. That's up from the 55% who felt that way a quarter ago. Just 2% of finance chiefs say US stocks are undervalued.The findings add to the mounting evidence suggesting the slingshot rise in stocks created in part by the Federal Reserve may be overdone. Even as elevated levels of unemployment show that the real economy is still suffering from the pandemic, the S&P 500 has skyrocketed 55% since its March 23 lows. For the first time in the decade Deloitte has been doing the survey, CFOs were more bullish on the Chinese economy than on North America's.Deloitte said the findings suggest "growing skepticism about the pace going forward."
happening at the same time as many people r being forced to pull out of the markets
"The Republican convention is designed for one purpose: To soothe Donald Trump's ego, to make him feel good," But here's the thing: He's the President of the United States, and it's not supposed to be about him. It's supposed to be about the health and the safety and the well-being of all the American people." "And on that measure Donald Trump has failed." -- our next VP Kamala Harris
"The Republican convention is designed for one purpose: To soothe Donald Trump's ego, to make him feel good," But here's the thing: He's the President of the United States, and it's not supposed to be about him. It's supposed to be about the health and the safety and the well-being of all the American people." "And on that measure Donald Trump has failed." -- our next VP Kamala Harris
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