A third (32%) of Americans missed their July housing payments. Banks are setting aside billions to cover potential loan defaults. Twenty-eight million Americans could be evicted in the coming months. The pandemic is causing an economic crisis like no other. The U.S housing market is on the edge of a huge crisis, as many Americans…
The ISM Manufacturing Index showed output declined 15% in April. But a Wall Street analyst says it’s much worse than it looks. Manufacturing was already in recession before the coronavirus crisis. U.S. manufacturing declined steeply in April. As measured by the ISM Manufacturing Index, industrial production in the United States fell to an 11-year low…
Jobs in the U.S. oil and gas industry are at risk as prices plunge. The median pay in the industry is significantly high. Only five shale companies are profitable at a WTI price of $31 per barrel. The price is significantly below that now. The U.S. oil industry was already in a state of flux…
The oil price collapse has added to Boeing’s pile of woes. Airlines have much bigger problems than the fuel efficiency of the 737 Max in an era of dirt-cheap jet fuel. Total order cancellations for the narrow-body aircraft are running into hundreds of units. Boeing must add collapsing oil prices to the mountain of problems…
Rep. Mo Brooks (R-AL) said the United States could likely destroy Iran’s war-making capabilities by collapsing the Persian Gulf state’s economy without “boots on the ground,” offering his remarks in a Tuesday interview on SiriusXM’s Breitbart News Tonight with host Rebecca Mansour and special guest host John Hayward. President Donald Trump’s foreign policy and national…
A satellite image shows an the apparent drone strike on an Aramco oil facility in Saudi Arabia, with the threat of further strikes flaring up. | Source: Reuters Dow Jones Industrial Average (DJIA) futures collapsed in early trading Monday after drone strikes in Saudi Arabia devastated the oil market. Two attacks on Saudi oil sites…
