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+13 +4
Stocks Could Plunge Even if the Economy Booms
We keep being reminded that the stock market isn’t the economy. But then, is it possible for the market to go into a long bear run even if the economy booms? Yes, although there is little record of it ever happening.
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+14 +1
How housing became the world’s biggest asset class
It is only a recent phenomenon
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+21 +3
Yelp data shows 60% of business closures due to the coronavirus pandemic are now permanent
Yelp on Wednesday released its latest Economic Impact Report, revealing business closures across the U.S. are increasing as a result of the coronavirus.
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+16 +3
America Can’t Even Produce the Things It Invented
The United States can bring manufacturing back — which will bring back good jobs and protect national interests.
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+4 +1
Covid-19: sacrificing lives does not mean saving the economy
A study of 45 countries shows those who have contained the virus also tend to have less severe economic impacts than those which haven’t
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+6 +1
50 years of tax cuts for the rich failed to trickle down, economics study says
Tax cuts for the wealthy have long drawn support from conservative lawmakers and economists who argue that such measures will "trickle down" and eventually boost jobs and incomes for everyone else. But a new study from the London School of Economics says 50 years of such tax cuts have only helped one group — the rich.
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+14 +4
The four-day work week's time may be here
It's a good idea as devastated economies reopen, but it's no magic bullet.
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+19 +1
In pandemic America's tent cities, a grim future grows darker
Nadeen Bender stood outside her home, a tattered two-man tent, surrounded by the re-purposed Amazon Prime boxes she uses to store her life's belongings. One by one, she checked the cartons to make sure nothing had been stolen in the night.
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+24 +4
We Need Five Days’ Pay for Four Days’ Work
Working time reduction has always been used as a way of distributing available work and reducing unemployment. In our era of crisis, we need to fight for a four-day week.
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+4 +1
'People will die': Chicago could lose an essential hospital in the middle of the pandemic
Closing Mercy hospital, an oasis in a medical desert on the South Side, would worsen racial health disparities, activists say
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+23 +6
Eye-popping wage report charts 40 years of worsening income inequality as the top 1% thrive
Wage inequality is getting worse, according to new data from the Social Security Administration, which shows a steady trickle-up effect in worker income during every period for the last four decades. That’s happening as wages for the bottom 90% of earners are being “continuously redistributed upward” to the top 10% and often even further to the top 1% and 0.1%, reports the Economic Policy Institute, which analyzed the data. Since the year 1979, while wages for the bottom 90% saw a modest growth of 26%, wages for the top 10% grew between 51.8% to 75.1%.
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+15 +4
Landlords have filed more than 150,000 eviction notices already. By January it will get much worse.
"This is a very dangerous moment in terms of the welfare of the American people."
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+20 +4
The coming war on the hidden algorithms that trap people in poverty
A growing group of lawyers are uncovering, navigating, and fighting the automated systems that deny the poor from housing, jobs, and basic services.
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+17 +3
Early, steady investment in wind, solar best way to decarbonize economy
To decarbonize the economy, European researchers recommend early, steady efforts to "electrify" economic sectors with wind and solar energy. For the study, researchers at Aarhus University used high-resolution data to model the decarbonization of the sector-coupled European energy system -- that is the energy that heats and cools buildings, fuels transport and powers industry.
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+16 +1
Biden Got It Right With His Treasury Secretary Pick
On Monday, President-elect Joe Biden announced he would nominate Janet Yellen as his treasury secretary. This news was greeted favorably all across the political spectrum, by progressives and even Senate Republicans. As former chair of the White House Council of Economic Advisers and chair of the Federal Reserve, Yellen would bring a lot of experience helping the country recover from financial pitfalls—and reshaping the role of government money in public life.
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+18 +3
Data from 45 countries show containing COVID vs saving the economy is a false dichotomy
There is no doubt the COVID-19 crisis has incurred widespread economic costs. There is understandable concern that stronger measures against the virus, from social distancing to full lockdowns, worsen its impact on economies.
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+15 +4
Secondhand clothing sales are booming – and may help solve the sustainability crisis in the fashion industry
Fast fashion is far from green. But the rapid expansion of online clothing resale platforms could help shrink the garment industry's negative impact on the environment.
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+17 +2
The 'market' won't save us from climate disaster. We must rethink our system
Expecting the free market to fix global warming is like trying to pound nails with a saw
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+12 +2
What Rent Drop? Listed Prices Aren’t Budging Where COVID-19 Hit Hardest
In some parts of the city, rents have dropped since the COVID-19 crisis began. But for neighborhoods that felt the effects of the coronavirus most, listed prices have risen slightly, according to a new analysis. The annual rental report by the apartment-listings site StreetEasy paints a very different price picture between the neighborhoods with the lowest coronavirus infection rates — primarily wealthier neighborhoods in Manhattan and Brooklyn — and the hardest-hit areas, mostly in Queens and The Bronx.
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+25 +4
The economy as we knew it might be over, Fed Chairman says
The Covid-19 pandemic brought the economy to a screeching halt, and while it has started its long road to recovery, the economy we knew is probably a thing of the past, said Federal Reserve Chairman Jerome Powell on Thursday.
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