Bear Market – May 22


TGIF

Friday is usually a day when people begin to wind down—unless you are a hungry investor who is always looking for fresh financial news. If that’s you, you came to the right place. In today’s Bear Market you’ll find lots to chew on: Facebook is radically changing its approach to hiring employees, and this will positively impact their bottom line (see how below)…Have you ever wondered how the U.S. government can afford to pay out trillions of dollars in relief funds when it is trillions of dollars in debt? Answer below…And JPMorgan Chase has done a study on how effective the lockdown actually was in slowing the spread of the virus, and their results are surprising. All this and more awaits you. 

Have a good read… 

Tech Industry

Facebook Plans to Expand Payroll with Remote Hiring: Mark Zuckerberg is permanently embracing remote work even after the coronavirus lockdown ceases. On Thursday, the CEO said the world’s largest social network would start “aggressively opening up remote hiring” in July, and the plan is for about half of the company’s workforce to be conducting their jobs outside of Facebook’s offices over the next five to 10 years. The move is the boldest yet by a tech giant to reimagine what work culture will look like in a post-COVID-19 world, as the pandemic is currently disrupting office and commuting habits around the globe. An internal survey found that about 60% of Facebook employees preferred… READ MORE

U.S. Economy

How Will Our Federal Government Pay for All This Stimulus Spending? That’s the trillion-dollar question: how can the U.S. government afford to dole out trillions of dollars in economic relief stimulus when it already owes $19.3 trillion in public debt? IT WON’T AND HERE’S WHY THAT’S OKAY

Fashion Industry

Victoria’s Secret Slammed by Coronavirus, Suffers Jaw-Dropping Quarterly Loss: The world’s most famous lingerie company announced they will permanently close around 250 stores in the U.S. and Canada in 2020, parent company L. Brands announced Wednesday. HERE’S HOW MUCH MONEY THEY LOST IN Q1

U.S. Economy

The Good News & The Bad News on U.S. Unemployment Now: New claims for unemployment benefits fell to 2.438 million last week, according to data from the Department of Labor. This brings the total of unemployment claims for the past nine weeks to around… READ MORE

Real Estate

Investing in Residential Real Estate During This Pandemic—Here’s What You Need to Know: The coronavirus has disrupted the residential real estate market. But does that mean now is a good time to buy a property? The answer depends on what you plan to do with the home—particularly if you are an investor. GET THE SCOOP ON RESIDENTIAL REAL ESTATE DURING THE PANDEMIC

U.S. Economy

Shock Opinion: Ray Dalio Says China About to Surpass U.S. Power: For many years now, we have heard how China is the second-largest economy and ranks second on the shortlist of “superpowers.” However, the Chief Investment Officer of Bridgewater Associates has outlined his case as to why the world’s largest economy would be overtaken by China in the near future. SEE DALIO’S REMARKS ON WHY HE THINKS THE U.S. IS DECLINING

U.S. Economy

No Need to Worry About a Second Economic Shutdown, According to President Trump:Yesterday, President Trump flat out said “we are not closing the country” if the U.S. is hit by a second wave of coronavirus infections.” It sounds like Trump is adjusting his coronavirus pandemic strategy. “We are going to put out the fires. We’re not going to close the country.” SEE WHAT DR. FAUCI THINKS ABOUT ALL THIS

U.S. Economy

How Effective Has the Coronavirus Shutdown Been? Analysis Raises Questions: 

Lockdowns designed to slow the spread of COVID-19 were initially justified. However, they likely failed to “alter the course of the pandemic,” according to a statistical analysis by JPMorgan Chase. SEE WHY THEY THINK REOPENING THE U.S. ECONOMY WILL NOT LEAD TO SECOND WAVE OF INFECTIONS

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