Silver Report Uncut
Mar 11, 2020
They have begun preparing extra money for unemployment in the event restrictions cause job losses. The same could be said for NYC as several major wall street banks have had employees who have become sick. It seems many have begun to take steps to get as many employees working from home as possible. Barclays Bank in NYC, Morgan Stanley, Point72 all had affected employees all located in Manhattan. There was also the Empire city casino Yonkers Raceway which had an employee that was affected as well. Massachusetts has struggled with the biogen conference nightmare on their hands which could lead to a serious economic decline for the City of Boston. All of these cities are so close and so interconnected. The stock market just enjoyed a temporary relief rally Monday but make no mistake the reality is so much worse than many understand. The headlines in the coming days will continue to shock the dow jones in a way that we have never seen before. A recent study showed that there are only 4 Shale companies in the US that could continue to operate with $31 oil. This is probably the worst problem or economy faces right now because many of these companies have had special lending based on an assumption that one day prices would rise again to previous levels. The opposite has happened as the energy sector continues the relentless slide.
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