Global Debt Crisis Coming to a Head

Government financial support in response to the economic crisis brought on by the Coronavirus pandemic will top $9 trillion, according to the International Monetary Fund (IMF). That equates to about 12 percent of the world’s GDB, according to a report from Zero Hedge. The rush to pass what have been described as “stimulus plans” will […]

Large And Small Corporations Rush to File Bankruptcy

Bankruptcy is becoming much more common as businesses fail in part due to the COVID-19 pandemic. The wave of bankruptcies is affecting businesses in every industry, from small retailers to sports leagues. Zero Hedge reports that Bloomberg has tracked more than 110 companies that have declared bankruptcy this year alone. Many were in financial trouble […]

Large Retailers and Restaurants Stiffing Landlords on Rent

Nordstrom has notified landlords of its full retail and Rack stores that it will only pay half the rent on its locations for the rest of the year. Retail Dive reports that president of Stores Jamie Nordstrom sent a letter to property owners dated June 3 notifying them of the decision. While Nordstrom did not […]

Bank Shutdowns Looming in U.S. Amid Pandemic

The Coronavirus pandemic should not mean that banks can close branches and shrink their footprints across the country, according to Brian Brooks, acting head of the Office of the Comptroller of Currency. Speaking in an interview with The Financial Times, Brooks said banks should not expect permanent concessions from regulators due to the virus, and […]