Small businesses are responsible for about half of U.S. employment, half of gross domestic product, and 40% of total business revenue. They are key to recovery but investors have largely discounted the threat their struggles pose for the broader economy.
In 2006, Nouriel Roubini warned that the US housing market was about to collapse. Today, he predicts that the coronavirus pandemic has put the world on a path to a decade-spanning "Greater Depression."
Government stimulus checks and a temporary ban on evictions are tiding over the suddenly jobless residents of housing complexes owned by Jared Kushner's company. But what will happen when both soon run out?
Erik Prince, the founder of private military contractor Blackwater and an adviser to Donald Trump, is suing The Intercept over an article published in April that accused him of attempting to offer military services to a Russian military contractor connected to the Russian government.
The economy is in free fall but Wall Street is thriving and stocks of big private equity firms are soaring dramatically higher. That tells you who investors think is the real beneficiary of the federal government's massive rescue efforts.
The New York Times dramatically illustrated the enormity of the economic downturn on their front page Saturday, showing how job losses in the United States from April were the worst since The Great Depression with this stunning infographic.
The central bank said Thursday that the British economy could shrink by 14% this year. That would be the biggest annual contraction since 1706, based on the bank's own best estimate of historical data.
Because Disney is in so many businesses — theme parks, hotels and resorts, cruises, movies, television, streaming, retail — it will provide a nice case study of whether the coronavirus "changes everything" in the long run.