“The U.S. budget deficit…will be at least $4 trillion in total, which is $2.6 trillion more than the peak suffered under the Great Recession.”
“32 million people collecting unemployment insurance as of June 27th”
“Of course, our central bank has destroyed capitalism by ensuring the businesses that still make typewriters and white-out can continue to borrow money. This means a tidal wave of bankruptcies has been put temporarily on ice, but the size of the insolvency storm is rapidly intensifying. Indeed, 1 out of every 5 U.S. companies are now considered Zombies. Meaning, they don’t make enough profits to cover the interest expense on existing debt.
Q2 earnings season has kicked off this week, and S&P profits are expected to plunge by 44%.
AAPL, AMZN, and MSFT have a market cap that is equal to nearly 25% of the entire GDP of the United States
32% of U.S. Households did not make a full mortgage payment in July, according to a survey done by Apartment List.