Let's face reality: It is likely that no further economic relief is coming from Congress before the election. For months, negotiations between Democrats and Republicans over a follow-up package have alternated between stopping, starting and stalling.
That leaves the Federal Reserve — gatekeeper of the world's reserve currency, America's central bank and lender of last resort — as the only game left in town. And its game is not good enough.
As with Congress, the Fed acted boldly in March. Financial markets were seizing up and stock prices plunged. The Fed stepped in and pumped trillions of dollars into credit markets to put them back in sync. They offered to lend vast sums to financial institutions and corporations temporarily short on cash. However, shortly after, the Fed fell prey to politics and, perhaps most crucially, to its own longstanding technocratic obsessions and misconceptions.
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Some Real Estate Investors Are Putting More Money in One Basket - The New York Times
For many investors, that would mean choosing funds that buy scores of buildings around the country. Instead, Mr. Starrett, who ran several retail companies before becoming a private equity executive, and Ms. Arthofer, an entrepreneur, are investing directly in specific buildings in just a few places.
The strategy is riskier — putting several million dollars, for instance, into one residential building versus using that same amount to invest in dozens of buildings. If the investment works out, however, it will offer greater returns and tax benefits.
Dave Ramsey says don't ever do these 10 things with your money
The money-management guru has doled out his signature blend of tough-love financial advice and Biblical wisdom since 1992. He learned it all the hard way: In his 20s, Ramsey built a million-dollar fortune flipping houses but lost it all when banks started calling in his debts. He had to buckle down to build back up from bankruptcy.
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"It's more about behavior change than numbers. Once your income is freed up, you can finally use it to make progress toward your savings goals," Ramsey explained on his website.
3% Social Security hike? $1,200 stimulus checks? How to get money to seniors
Rep. Peter DeFazio, D-Ore., is introducing a bill today with Rep. John Larson, D-Conn., that would boost the COLA for next year to 3% from 1.3%.
The emergency COLA would help pay for extra expenses seniors face amid the pandemic, such as the cost of having food delivered and higher utility bills as they spend more time at home.
In an interview with CNBC.com, DeFazio shared why the emergency raise for Social Security beneficiaries needs to happen, and what it will take for more stimulus aid to pass.
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'Wall of money will send bitcoin to $1 million' - Asia Times
Bitcoin will soar to a mind-boggling $1 million by 2025, predicts Real Vision founder and CEO Raoul Pal.
In an interview with Stansberry Research, the former Goldman Sachs hedge fund manager said an "enormous wall of money" will flow into the leading crypto over the next half decade.
He told host Daniela Cambone: "I think it's going to be not because the world's collapsing; it's because there's going to be adoption by the real large pools of capital.
Montgomery County officials clash over distribution of coronavirus money
The County Council criticized County Executive Marc Elrich on Tuesday for not disbursing most of the $183 million in federal money it has secured through COVID-19 relief programs.
But Elrich said in an interview Wednesday night that the county is distributing money as fast as it can.
Two administration officials say the county has been stuck waiting to find out what it will get from one potential source of funding before distributing money from another source.
17 tips to save money when starting a new business
Crises often inspire entrepreneurs to create new businesses — Airbnb, Beyond Meat, and Venmo were born in the recession . However, launching a company during an economic downturn typically forces founders to start up on a budget and save whatever they can.
Quora users with business experience were asked the question: "Is it possible to start a business with little to no money? How?"
As these answers show, it's possible to save money when starting a new business, but that doesn't replace a great idea and more drive than the competition. Additionally, making smart tax decisions at the beginning of the process can save money in the future.
'Enormous wall of money' will send Bitcoin to $1M in 2025 — Raoul Pal
Bitcoin ( BTC ) hitting $1 million by 2025 is "about right," Real Vision founder and CEO Raoul Pal has confirmed.
In an interview with Stansberry Research last week, Pal, famous for his bullish stance on Bitcoin, said an "enormous wall of money" would flow into the cryptocurrency over the next few years.
"I think that's about right, whether it's five years, six years," he said when asked about the $1 million target.
"We're going to go through two of these halving cycles, and just from what I know from all of the institutions, all of the people I speak to, there is an enormous wall of money coming into this. It's an enormous wall of money, just the pipes aren't there to allow people to do it yet, and that's coming, but it's on everyone's radar screen and there are a lot of smart people working on it[.]"
Happening on Twitter
The author of this piece @Claudia_Sahm has it wrong. The answer is to give up on the Fed and to actually turn to po… https://t.co/VQLUR0clHF matthewstoller (from Washington, DC) Fri Oct 16 13:37:21 +0000 2020
I agree with @Claudia_Sahm. The Fed should request from Congress (who refuses to do their job) the ability to get m… https://t.co/f1vUcoB5Lk scottsantens (from New Orleans, LA) Fri Oct 16 13:52:44 +0000 2020
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