“Disastrous Economic Situation” – Small Firm Bust Goes Unnoticed As Economy Flounders

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13-08-20 07:08:00,

The virus-induced recession has resulted in deep economic scarring that will be seen for years. Tens of millions of Americans remain unemployed, broke, and hungry. US bankruptcies of large companies are on pace to hit a 10-year high, with even more devastation seen among smaller firms.

The collapse of small business is absolutely shocking, considering firms with under 500 employees account for about 44% of US economic activity. 

Bloomberg notes a “wave of silent failures goes uncounted in part because real-time data on small business is notoriously scarce, and because owners of small firms often have no debt, and thus no need for bankruptcy court.” 

“Probably all you need to do is call the utilities and tell them to turn them off and close your door,” said William Dunkelberg, chief economist for the National Federation of Independent Business. 

Dunkelberg warned: Small business closures “are going to be well above normal because we’re in a disastrous economic situation.”

Yelp’s latest data on business activity shows more than 80,000 companies permanently shuttered operations from March 1 to July 25. What’s concerning is that 60,000 of these closings were small firms. 

We recently pointed out small restaurants across the country have listed their eateries for sale on Facebook Marketplace. The number of listings is stunning, a clear indication the bust cycle is far from over. Another round of closures could be seen later this year, or into next, as the recovery reverses and fears of a double-dip recession materialize. 

A July report from the US Chamber of Commerce survey showed 58% of small business owners are worried about permanently closing. The problem today is that the economic recovery stalled in June and has started to reverse, a fiscal cliff has been festering underneath the surface in August, which could result in lower consumption among tens of millions of Americans that would pressure businesses sales. 

A combination of firms going bust and depressionary unemployment levels have tremendous spillover effects in the mostly dominated consumer-driven economy.

President Trump’s orders to provide more direct transfer payments to broke Americans have tremendous consequences; first, a quarter of all US income is derived from the government,

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Gone with the Wind: The Disastrous Passion of Angela Merkel and Emmanuel Macron

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06-03-19 11:17:00,

Gone with the Wind: The Disastrous Passion of Angela Merkel and Emmanuel Macron

Chancellor Angela Merkel and President Emmanuel Macron of France have run their once great nations into the ground as rage, frustration, poverty and fear erupt across the streets of Western Europe. But Merkel and Macron are not concerned: They have eyes only for each other. Their mutual regard and unlimited support for each other’s catastrophic policies continue unabated.

Merkel has been in power for more than 13 years and is old enough to be Macron’s mother. Macron is a neophyte of less than two years in power, though with an inflated sense of self-regard as ridiculous as the comic character of Mr. Toad in the British children’s book, “The Wind in the Willows.”

Merkel and Macron share the same assumptions, were raised up by the same forces and are endless feted and fraudulently praised by the same worthless pundits.

Both are arrogant elitist intellectuals. Both believe in stripping and shrinking the social functions and responsibilities of the state towards the weak and the poor. Both agree that the state should help and protect large national corporations and that ordinarily people rate a poor second to this: In fact they do not rate at all.

Both believe that they and their regimes represent the absolute perfections of human achievement and therefore must be replicated around the world, instantly if possible. Merkel looks to advance regime change to the east, across all of Eurasia. Macron in his faux-Mussolini style dreams of being the neo-Napoleonic wise leader of the Mediterranean, orchestrating the remaking of the Maghreb across North Africa and of the Arab Middle East.

Both leaders see themselves selfless, visionary internationalists and regard Presidents Donald Trump in the United States and Vladimir Putin in Russia with fastidious distaste because they presume to put the interests of their own peoples first.

Both Merkel and Macron have condescending contempt for their own peoples and believe the native populations of their countries need injections of millions of immigrants from around the world as quickly as possible. Neither of them cares a fig for the values of the Christian civilizations that built and embodied their nations for more than a millennium. Instead, they openly despise those who take their national heritage seriously.

Yet there is also a strange,

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The Disastrous Brexit Plan You Knew Nothing About | Global Research – Centre for Research on Globalization

The Disastrous Brexit Plan You Knew Nothing About | Global Research – Centre for Research on Globalization

19-12-17 02:43:00,

Last September in New York City, the EU’s Foreign Minister Federica Mogherini said something quite telling in a speech on the sidelines of the UN General Assembly, where the great and the good of business and politics rub shoulders. Individuals such as Canadian prime minister Justin Trudeau and Blackrock CEO Larry Fink, Apple’s CEO Tim Cook, billionaire Mike Bloomberg and IMF managing director Christine Lagarde graced it with their presence.

The rest of world is now looking at Europe for leadership. And we can do it,” Mogherini said.

There’s no doubt that the loss of Britain to the EU has been felt. Britain is a big diplomatic hitter. It is a nuclear armed nation and has deep connections all over the world, especially with it being only one of two EU countries with permanent membership of the UN Security Council. In terms of real international clout, only France and Germany come close.

Recently, the EU has signed trade agreements with JapanAustraliaNew Zealand, and Latin America’s Mercosur bloc (which includes Brazil and Argentina). Meanwhile, Liam Fox has been travelling all over the world and signed …. nothing at all. Fox is a dangerous man for Britain. He is all about ripping down public protection in favour of ‘free markets’.

In the meantime, in Brussels, the leaders of the EU27 are now expected to come to some sort of agreement that sufficient progress has been made in the Brexit talks for negotiations to move to the next stage of the trading relationship.

If you think getting to this stage was difficult – now the hard work really starts, especially now that the Cabinet is to decide what sort of trade deal it wants, let alone what the EU27 has in mind.

At the heart of this domestic debate is whether we want to follow the plans of hardline Brexiteers or the plans of moderate Brexiteers. The truth is that it makes little difference what you, I or they want. As I have said all along from before the EU referendum took place, the hardliners, supported by the insatiable appetite of American corporate billionaires – want far more than the simple sentimental yearnings to regain national sovereignty,

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