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News & Articles By Ramon Tomey
09/09/2021
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By Ramon Tomey
El Salvador adopts bitcoin as legal tender to unsteady start characterized by glitches
The tiny Central American nation of El Salvador saw a rocky start on its first day of adopting the bitcoin cryptocurrency as legal tender. The country passed a law in June 2021 mandating its use as legal currency alongside the U.S. dollar. But the first day of the rollout on Sept. 7 hit a roadblock […]
09/07/2021
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By Ramon Tomey
Survey: Argentinians believe inflation will hit 50% in 2022
Argentinians believe that inflation will hit a record high of 50 percent by next year, according to a survey. The poll conducted by Torcuato di Tella University (UTDT) in Buenos Aires found that the projected 50.2 percent rise is the highest average reading since it started surveying citizens in 2006. The prediction came as the […]
08/19/2021
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By Ramon Tomey
Bank of America analyst dubs Moderna stock price as ridiculous
An analyst for Bank of America (BofA) has dubbed Moderna’s current stock price as “ridiculous.” BofA Securities Analyst Geoff Meacham said the Massachusetts-based biotechnology firm’s valuation is “unjustifiable on a fundamental basis.” Meacham’s Aug. 10 analysis ultimately suggested that Moderna’s stock should be 75 percent lower than its current price. Meacham wrote that Moderna’s valuation went “from unreasonable to […]
08/11/2021
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By Ramon Tomey
Restaurants look to ROBOTS to fill openings amid labor shortage
The early days of the pandemic saw a lot of companies, especially those in the food and beverage industry, lay off employees. However, employers had a hard time filling in the positions formerly held by the retrenched workers. Thus, some establishments looked to robots to address the shortage of qualified workers. One branch of American fast-food […]
08/02/2021
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By Ramon Tomey
New home sales drop to lowest level since pandemic began as engineered economic implosion spreads
Sales of newly built homes plunged to their lowest level in June 2021, data from the U.S. Census Bureau (USCB) revealed. A July 26 statement by the USCB said new home sales dropped to 676,000 in that month. This was the lowest number of home sales recorded by the USCB since the beginning of the […]
07/30/2021
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By Ramon Tomey
Some states resume paying out federal benefits after citizens sue
Jobless Americans sued their respective states after the latter ended their participation in the federal government’s unemployment benefits program. Judges in Maryland and Indiana sided with the plaintiffs who were affected by the premature end of the extra aid. The judges ruled that payouts for the $300 weekly benefit must resume until the suits are […]
07/23/2021
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By Ramon Tomey
Bitcoin’s 50 percent drop in value hits crypto loans and derivatives
The 2021 Bitcoin bubble is showing signs of deflation, negatively impacting previously optimistic forecasts on the cryptocurrency. Its current trading price of around $31,700 is near the lower end of its range for the past two months. The price also reflects a fall of about 50 percent from its highest prices this past April. Bitcoin’s drop affected a $1.3 […]
07/22/2021
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By Ramon Tomey
States ending pandemic unemployment benefits see increase in jobs as more people decide to work
States that opted out of the federal government’s pandemic unemployment benefits program in June saw an increase in their job numbers. According to the Daily Caller, these mostly Republican states experienced a 33 percent drop in new jobless claims compared to the roughly 4 percent drop in states that did not. Stagnating job growth and […]
07/07/2021
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By Ramon Tomey
States that stopped federal pandemic benefits see rapid job recovery gains
While the Wuhan coronavirus (COVID-19) pandemic saw record levels of unemployment in the United States, several states are now seeing their job markets recover at a faster rate after ending unemployment benefits. Twenty-six states have opted out of the expanded unemployment benefits program ahead of its Sept. 6 expiration, 25 of which have Republican governors. Many economists […]
06/25/2021
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By Ramon Tomey
Businesses lobbying for new round of federal aid as pandemic wanes
A number of businesses badly affected by the Wuhan coronavirus (COVID-19) pandemic are asking the federal government for additional aid to stay afloat. These businesses, which include restaurants, gyms and hotels, claimed coronavirus restrictions caused them to suffer financial losses. Prior to this new tranche of stimulus money, the Biden administration implemented the American Rescue […]
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