Juggling Dynamite

The pandemic has intensified rent burden on households across the nation. We spoke to an economist about what it means for the economy. Here is a direct video link.

Debt-funded government subsidies that further enrich ‘the haves’ are not economic stimulus but rather dead weight with a negative multiplier effect that reduces productivity and critical investment for years to come.

Billionaires, country clubs, private jet companies and Kanye West all received millions in government funding under the Paycheck Protection Program, according to the Small Business Administration.

The PPP loans and grants were part of the $2 trillion CARES Act, which President Donald Trump signed into law this spring. The loans were designed to help small businesses hurt by the coronavirus pandemic to retain or rehire employees. Yet according to a list of individuals and companies that received loans or grants of more than $150,000, recipients included large companies and billionaires that had access to other sources of capital and have recovered quickly from the pandemic.
Here is a direct video link.

Nortel was Canada’s star company into the 2000 cycle peak before a spectacular collapse crushed retirement savings across the land.   The usual irrational exuberance, extreme overvaluation and complacent management undoubtedly played a leading role; but a new investigation also connects Nortel’s collapse with Huawei’s ascent to 5G leader today.  You can read the story here in Did a Chinese hack kill Canada’s greatest tech company? and listen to a video report below and at this direct video link.

Increasing scrutiny and restrictions against Chinese technology and products are likely to be a dominant theme for years to come.  The “MADE IN CHINA” mania has turned.

The death of Canada’s greatest tech giant has been attributed to mismanagement, the collapse of the dot-com bubble and the 2009 fiscal crisis. However, Bloomberg News’ Natalie Obiko Pearson says a Chinese hack, possibly involving Huawei, may have dealt the death blow.