Economy - Part 3

China’s CNPC Set to Jumpstart Joint Oil Ventures in Venezuela
The China National Petroleum Corporation (CNPC) is reportedly laying the groundwork to revive projects in Venezuela. According to unnamed sources cited by Bloomberg, CNPC is hiring local enterprises and sending its own staff, including engineers, for main ...[Read more]
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Americans Who Say They Pay Taxes Are Probably Lying
The Urban-Brookings Tax Policy Center recently released a report saying that 61% of U.S. households had paid no federal income tax in 2020, up from 44% in 2019, as the pandemic led to high unemployment and loss of income. Although the number will likely r ...[Read more]
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Federal Jobless Aid, a Lifeline to Millions, Reaches an End
The abrupt loss of pandemic unemployment benefits on a broad scale could have long-term effects not only for the recipients but also for the economy. ...[Read more]
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Why Is Capitalism Creating An Economy That Is 40% Bullsh*t Jobs?
As a society, we’re forcing millions of people to go to offices five days a week, eight hours a day, and do nothing ...[Read more]
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Chicago Is Being Amazonified
Chicago recently made headlines for turning public parks space over to Amazon package lockers. But those lockers are only one example of Amazon and public officials using public-private “partnerships” to give away public resources and harm communities ...[Read more]
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750,000 Households May Face Eviction If Congress Doesnt Act, Says Goldman Sachs
Anew analysis from finance firm Goldman Sachs finds that if Congress doesn’t act soon to pass an eviction moratorium, 750,000 households could face eviction in the fall and winter. The investment bank estimates that between 2.5 and 3.5 million people in ...[Read more]
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China tightens scrutiny on $9.3 trillion fund industry
China's top securities regulator pledged on Monday to crack down on mismanaged private funds and weed out fake ones, as the government becomes more assertive in dealing with an industry worth 60 trillion yuan ($9.28 trillion). ...[Read more]
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How the rich get free money and don’t pay taxes on it
When you are very rich, you can borrow money at interest rates that are next to zero; you can also take your income in stock, rather than cash. Stock is only taxed when you sell it, and then at the lower capital gains rate, because the IRS rewards gamblin ...[Read more]
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Exclusive: Report Details Corporate Landlord Gluttony as Millions Face Eviction
Despite their loud public complaints to lawmakers about the supposed "economic hardships" caused by the CDC's now-terminated eviction moratorium, large real estate companies have privately touted their solid performance during the coronavirus pandemic—a ...[Read more]
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Food, beer, toys, medical kit. Why is Britain running out of everything?
Gaps on supermarket shelves. Fast food outlets pulling milkshakes and bottled drinks from their menus. Restaurants running out of chicken and closing. Empty vending machines. Online grocery orders full of substitutions. Fruit and vegetables rotting in the ...[Read more]
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“Im utterly sick of it” – UK workers on returning to the commute
As September approaches, employers are increasingly asking workers to come in, with many offices adopting hybrid systems after months of working from home – prompting mixed emotions. Commuting can be both expensive and polluting. UK workers pay more of ...[Read more]
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