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U.S. still faces possible default wave, asset declines due to pandemic, Fed warns
Monday, November 9, 2020
WASHINGTON -- The United States may still face a wave of debt defaults and "significant declines" in asset prices because of the coronavirus pandemic and recession, the Federal Reserve warned today, in a stark reminder the economy is far from out of the woods.
"As many households continue to struggle, loan defaults may rise, leading to material losses" for lenders, the Fed said in its latest biannual Financial Stability Report. Business debt "has risen sharply as businesses increased borrowing to weather the period of weak earnings. The general decline in revenues associated with the severe reduction in economic activity has weakened the ability of businesses to services these obligations."
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Asset prices "remain vulnerable to significant declines should investor risk sentiment fall or the economic recovery weaken."
The comments were issued on a day when U.S. stock markets surged on news that a coronavirus vaccine may be on the horizon -- a possible boon to businesses and households globally. ...
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Mining Investment North America (Virtual)
Thursday-Friday, November 12-13, 2020
Toast to a free gold market
with great GATA-label wine
Wine carrying the label of the Gold Anti-Trust Action Committee, cases of which were awarded to three lucky donors in GATA's recent fundraising campaign, are now available for purchase by the case from Fay J Winery LLC in Texarkana, Texas. Each case has 12 bottles and the cost is $240, which includes shipping via Federal Express.
Here's what the bottles look like:
Buyers can compose their case by choosing as many as four varietals from the list here:
GATA will receive a commission on each case of GATA-label wine sold. So if you like wine and buy it anyway, why not buy it in a way that supports our work to achieve free and transparent markets in the monetary metals?
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Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon --
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