Nissan Motor co may close down in USA
1. Biggest Car Rental company ( Hertz) filed for bankruptcy - they also own Thrifty and Dollar
2. Biggest Trucking company ( Comcar) filed for bankruptcy - they have 4000 trucks
3. Oldest retail company ( JC Penny) filed for bankruptcy - to be
acquired by Amazon for pennies
4. Biggest investor in the world ( Warren Buffet) lost $50B in the last
2 months
5. Biggest investment company in the world ( Blackrock ) is signalling
disaster in the world economy - they manage over $7 Trillion
6. Biggest mall of America ( Mall of America) stopped paying mortgage
payments
7. Most reputable airline in the world ( Emirates) laying off 30% of its
employees
8. US Treasury printing trillions to try to keep the economy on life
support - their balance sheet will become $7 T+
9. Estimated no. of retail stores closing in 2020 - 12,000 to 15,000.
Following big retailers have announced closing:
-- J. Crew
-- Gap
-- Victoria's Secret
-- Bath & Body Works
-- Forever 21
-- Sears
-- Walgreens
-- Gamestop
-- Pier 1 Imports
-- Nordstrom
-- Papyrus
-- Chico's
-- Destination Maternity
-- Modell's
-- A. C. Moore
-- Macy's
-- Bose
-- Art Van Furniture
-- Olympia Sports
-- KMart
-- Specialty Cafe & Bakery
and many more................
Massive mortgage loan defaults, credit card defaults and auto loan defaults
are expected
The real impact of Covid -19 will be known in the third quarter of 2020.
The unemployment claims reached all-time high of 38+Million - unemployment
is over 25% ( out of 160 million of working population, close to 40 Million
are jobless). With no income, consumer demand will fall drastically and
the economy will go into a free fall .
This is just USA.. similar things may happen in other parts of the world .
So, develop the second stream of income and we will teach and train you to get
going in Indian stock market using the tips to do intraday trading as one must
have a Plan B up the sleeve to counter the recession.
