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News & Articles By Franz Walker
08/06/2020
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By Franz Walker
Gold prices could hit $15,000 in 2025 as the dollar continues to fall
Gold prices are at an all-time high thanks to the weakening value of the U.S. dollar. However, experts warn that the price of the yellow metal could increase much further. In a video conference with Kitco News, Euro Pacific Capital CEO Peter Schiff and best-selling author Jim Rickards both think that the rally is far from over. According […]
07/18/2020
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By Franz Walker
Resurgent coronavirus caused consumer sentiment to drop in early July
Consumer sentiment has declined in the first half of July following the reversal of the economic reopenings of several states in the face of a resurgent Wuhan coronavirus (COVID-19) pandemic. The University of Michigan’s Index of Consumer Sentiment slid to 73.2 percent during July’s preliminary reading, down from 78 percent at the end of June. The slump runs […]
07/13/2020
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By Franz Walker
OECD urges governments to scale back coronavirus-related wage subsidies
The Organization for Economic Cooperation and Development (OECD) is now asking governments to stop wage subsidies meant to keep workers employed to encourage these workers to move out of shrinking sectors. This is despite the organization still encouraging governments to continue paying unemployment benefits. Founded in 1961, the 37-member OECD’s job is to stimulate economic progress and world […]
06/28/2020
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By Franz Walker
Cryptocurrency is dying as young speculators shift to Robinhood and zero-cost trading
Once the darling of daring young investors looking to get into trading on the cheap, cryptocurrency hasn’t really recovered since the 2018 crash. Now, these same investors seem to have found something new to put their money into – Robinhood. With its innovative “zero-cost” trading model, Robinhood has quickly gained a following among young, tech-savvy but […]
05/15/2020
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By Franz Walker
Nearly 3 million jobless claims filed last week as coronavirus continues to ravage the economy
A total of 2.981 million Americans filed for unemployment insurance this past week, the Department of Labor reported Thursday. The figure raises the eight-week total for jobless claims to more than 36 million, by far the biggest loss in U.S. history. Last week was the sixth straight week in which new jobless claims have fallen. However, claims remain […]
05/07/2020
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By Franz Walker
Mnuchin: “Too hard to tell” when international travel will resume as coronvirus ravages airlines
As the ongoing coronavirus (COVID-19) continues to wreak havoc on the airline industry, Treasury Secretary Steven Mnuchin advised Americans to focus on domestic travel this year. According to Mnuchin, the international travel outlook for the rest of the year remained uncertain. Responding to a question from Fox Business Network‘s Maria Bartiromo on whether international travel would be […]
04/18/2020
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By Franz Walker
Jobless claims rise by 5.2 million as coronavirus continues its rampage across the economy
The Department of Labor (DOL) reported Thursday that 5.2 million more people filed first-time unemployment claims last week. The additional claims bring the total number of jobless claims for the week ended April 11 followed the 6.6 million claims reported the week before and bring the total claims filed since the coronavirus crisis forced businesses to close to around 22 […]
04/16/2020
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By Franz Walker
Federal Reserve warns coronavirus will continue to ravage US economy
The Federal Reserve warned Wednesday the impact from the coronavirus outbreak could sink the economy even further. In its Beige Book, which contains anecdotal information on current economic conditions in each of the Fed’s districts, industries affected by the lockdown said that they expect “conditions to worsen in the next several months.” Businesses surveyed in the report said […]
04/03/2020
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By Franz Walker
Jobless claims spike to 6.6 million, doubling last week’s record, as layoffs mount amid coronavirus pandemic
A record-shattering 6.6 million jobless claims were filed last week, according to the Department of Labor’s (DOL) weekly jobless claims report. This is more than double the number reported in the previous week, which itself also broke records. The week before, the DOL already reported a then record-setting 3.2 million jobless claims for the week, thanks to […]
04/02/2020
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By Franz Walker
The Fed WARNS more lay-offs are coming as the coronavirus continues to spread
The social distancing measures being put up to try to stop the spread of the coronavirus pandemic have resulted in the worst level of unemployment that the U.S. has seen in a long time. As bad as things are, however, a new estimate by the Federal Reserve is showing that they’re going to get much worse. A […]
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