money
Restaurant Blames CARES Act For Labor Shortage Due to High Unemployment Pay
An Arizona restaurant owner says that many of her furloughed employees are staying home and have told her their pay from the government is better than working at her restaurant. She says there are about 30 job openings, but rehiring is challenging because people are comfortable with unemployment benefits.
COVID CRISIS: What Happens When U.S. Fed Creates $6 Trillion on Its Balance Sheet?
Few Americans realize that the US Federal Reserve Bank has just piled $6 trillion in assets on its ledger. What happens when those assets turn to losses? Remember 2008 subprime mortgage crash? In short: the banking profits are privatized, while their losses are socialized (the people will pay in the end).
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