80% Of NYC Hotels Could Default In The Next 6 Months, And They're Telling Everyone To Avoid Hotels!
The tourism industry has been broken beyond repair it seems, perhaps that was the purpose of telling everyone to avoid hotels. It wouldn't matter anyway since business travels has collapsed as we covered in the previous episode. I wanted to talk about cruise lines and Airlines because these industries have been battered demand has plummeted and they have been desperate to convince investors they are still a sound industry. The V-shaped recovery was the story for the longest time but suddenly that has all gone silent and everyone begins to talk about the coming darkness that is supposedly "better" and telling everyone to avoid air travel, cruises, bus trips, hotel stays, etc... These companies have been struggling to survive as well as many small businesses in America. In the letters to investors, these companies have been trying to portray an unrealistic view that they have sound prospects in the near term. Many have acknowledged they will fail without more state intervention and now they are directly asking people to avoid giving them any business. They're asking people to stop going to the store and stop traveling and not seeing their family. None of this has anything to do with economic growth in fact I have that feeling you get when you're at the top of a roller coaster and the chain disengages... ... https://www.youtube.com/watch?v=xOPZHcjmEcw
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Major UK supermarkets are warning that the food supply shortages are the worst they have ever seen. The food supply chain has been disrupted by a lack of lorry drivers, and by a shortage of labour in general.
Steve Murrells, chief executive of the Co-operative Group, told the Times that they had significantly reduced the range of some products. He blamed Brexit and pandemic-related fallout.
The road haulage industry says there is currently a shortfall of around 90,000 drivers.
Meanwhile, the boss of frozen food retailer Iceland, Richard Walker, told the BBC that unless the problems are resolved now, it could affect the all-important Christmas supplies.
“The driver shortage is impacting the food supply chain on a daily basis and leading to shortages on the shelves,” Walker said.
“We’ve had deliveries cancelled for the first time since the pandemic began, about 30 to 40 deliveries a day.”
British Meat Processors Association (BMPA) yesterday also said that supplies of Christmas favourites like pigs-in-blankets could be affected.
Industry groups say that training for new drivers is taking months
...
https://www.youtube.com/watch?v=KwMOM_POhD4
Economic collapse news. Major Stock Indices break below key technical resistance once again. The issue is we needed to break through to new highs to invalidate the double top. That didn't happen As the Dow Jones Industrial average closed down 314 points. we also see the federal reserve is embarking on quantitative easing 4... The Fed has actually asked us not to call it QE though. We also see the IMF has come out and warns about a coming downgrade to global growth estimates. They downgraded the global growth outlook the last time they released the survey. We can't leave out WeWork We see more job cuts on the horizon for 2019.
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https://www.youtube.com/watch?v=dhFVK3cPNws
Another Analyst Chris Metli, Head of US Quantitative and Derivative Strategies at Morgan Stanley has come out and warned the shift into safe haven assets has begun. We cover his analysis and the rush into safe haven assets we are currently seeing. The rush our of stocks into bonds has been clear. Also The IHS Markit PMI reveals the US manufacturing sector has plunged into contraction this promptly sent the 2 year and 10 year yield curve into inversion. We also cover the Philly Fed presidents comments that shook the markets. This goes to show the markets may be in for a big surprise. Maybe they don't want to delay the recession.
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https://www.youtube.com/watch?v=OHDbIte6ZFQ
There is a food crisis brewing in our midst and for the most part it's too difficult of a situation for many leaders to deal with or even acknowledge. To acknowledge that many American families are struggling to find enough food in September when we are in this supposed V-shaped recovery is concerning. Many Americans are unemployed and unemployment remains stubbornly high so they are caught by the rapidly rising food price inflation not being able to afford to put food on the table. It's not just the quantities of food that have diminished for many American families but also the quantity of food and more and more people settle for whatever they can get their hands on. New Jersey is a special case and it's not entirely clear as to why but looking at the food needs by county we see the coastal and southern parts of NJ including Atlantic county where Atlantic City is located are all seeing their emergency food needs spike. The sad truth is demand is surging across the state bringing us to our second problem which is the fact food insecurity is rising and food banks are already pushed to the limit with current demand levels. If our economy was already recovering food bank demand would be falling and unfortunately, this seems to be a problem that can last years and can even be with us over 10 years and studies have shown once these problems begin following recession it can take significant amounts of time to resolve.
...
https://www.youtube.com/watch?v=usz_SdjX2r8
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I have really been ignoring the crazy for some time now. The way things have been it's made it impossible to ignore any more. The reason this is so concerning is they seem to be using this chaos for the same goals they could not achieve just a few weeks ago. It makes it seem like I am being lied to.
...
https://www.youtube.com/watch?v=tzaP4Hp9cNk
Economic collapse news November 7, 2019
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Today we look at some of the recent comments to from Jeffrey Gundlach on the economy. Actually what he detail was a collapse in the Corporate Bond Market. That's not all He said he has been an advocate for Gold since it was $300 an ounce. Most people have no idea how bad the coming economic collapse will be. He did state He doesn't see it in the next 3 months but He could definitely see a recession being part of the story next year.
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https://www.youtube.com/watch?v=1vgxc8veL38
So a full day we see the markets have continued their sell-off as investor's fears mount over the economic impact from the school closures in Seattle. We also see there has already been 150,000 hotel bookings that have been canceled so far for the city of San Francisco. The changes in shopping trends and tourism decline for California is going to sink many small and medium-sized businesses. Jamie Dimon is out temporarily due to heart surgery and there are a couple new co-bosses controlling JP Morgan until he recovers. and Lebanon has just seized 20 large banks along with the personal assets of several large banks amid the countries economic collapse and upcoming debt payments..
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https://www.youtube.com/watch?v=xtfxMyVx1xU