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A Blue Ribbon Committee of Housing Policy leaders released a COVID-19 Crisis report on August 7 that estimates 30 to 40 million Americans may face eviction over the next several months.
Aristotle wrote in "Politics" that the purpose of political community is not living, but living well. One measure of how well a political community is living is the quality of the opportunity for education. Clearly, the COVID-19 crisis has disrupted the traditional classroom learning model. America's school system failed the teachers, students and parents.
Puerto Rico's elections were a mess. On Sunday, August 9, Puerto Rico was forced to partially suspend voting for primaries marred by a lack of ballots, as officials called on the president of the Commonwealth's elections commissioner Juan Ernesto Davila to resign. The primaries for voting centers that had not received ballots by early Sunday afternoon were expected to be rescheduled, while voting would continue elsewhere, the commission said.
On August 4th the port of Beirut was the scene of a horrific explosion, which killed more than 150 people, injured 6,000 and left some 300,000 homeless. The damages are estimated to be in excess of $15 billion. The city’s hospitals, already struggling due to the COVID-19 pandemic, were damaged by the blast and swamped with injured. On top of already raging economic and political crises, the explosion now raises the question of food security. Prior to the explosion, 80 percent of Lebanon’s imports passed through Beirut’s port. Without a functioning port in Beirut, the country now relies on a handful of secondary ports, chief among them being Tripoli in the north, to import food and to export its products.
In truth, high-tax blue states are net "receivers" of federal funds, New York foremost among them, according to Matthew Schoenfeld, a Chicago-based municipal bond portfolio manager. He gored one of the sacred cows of New Yorkers (and many municipal analysts). What's more, Mr. Schoenfeld did it publicly — in the Wall Street Journal's Opinion Page on July 22, 2020. Governor Andrew Cuomo, (D.NY) has repeatedly flouted a list of "donor states" topped by New York, which "gives" $29 bln. a year more than it "got" from 2015 through 2018. The source of the Governor's claim is the Rockefeller Institute's "Giving or Getting" which was published in 2017.
One of the great lessons from the Puerto Rico bankruptcy was never to draw to an inside straight — in other words, state and local government politicians need to play the hand that is dealt.
Vice President Kamala Harris and former President Donald Trump are offering plans that highlight major differences in how they would approach the US economy.
State budgets are in a sound position entering fiscal 2025, according to Fitch Ratings.
European parliamentary elections were less a shock to the system and more of a signal that many people feel disconnected from what Brussels dictates on the policy front, leaving politics at the national level the place where the action is going to be.
Resilient New Orleans Innovation Challenge was created to identify innovative technologies that demonstrate the ability to lower the overall cost of building components and increase resiliency and affordability for tenants and homeowners.
While Wall Street continues to hope for cuts in the near term, we are taking our cue from Chairman Powell’s May 14th comment that the U.S. central bank will have to be “patient and let restrictive policy do its work.”
ASCE released its economic report on “Bridging the Gap.” The report describes the impact that the federal investment has had on the US Infrastructure needs.
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Smith's Research & Gradings focuses on the people, sectors and news that matter the most to you. Smith's analysis is an indispensable part of Wall Street and the world's capital markets. Our approach was inspired by the need for a consistent analytical approach across all asset classes. Smith's Gradings are a time-tested, performance proven, and principles-based approach to risk. We go beyond the numbers to connect the dots for the world's decision makers. We can enhance the performance of investments in assets around the globe, while helping to ensure the safety of portfolios here at home.
Let a subscription to The Global Economic Doctor provide you with access to sovereign news, analysis and insights. Concise and powerful, the Global Economic Doctor spans the globe, giving you a read on how today’s market developments and key players are impacting your business around the planet.
