Yesterday’s Top Stories From the Breitbart News Desk

[Maganomics]( Yesterday’s Top Stories From the Breitbart News Desk The RNC began Monday night, with the entirety of the Republican Party touting President Trump as the better option to lead the economy to growth. Seemingly every speaker touted Trump as the premier president for job creation in modern times; they also name-checked the promise of additional tax cuts throughout the night. Cuban-American businessman Maximo Alvarez was arguably the star of the night, telling his rags-to-riches story. Pure Americana. Eric Trump, who is in charge of the Trump Organization, spoke last night and touted his father’s business acumen. Meanwhile, another American city is on fire over a police-involved shooting. This time it’s Kenosha, Wisconsin. While the media hypes racial unrest, more small businesses fall victim to the endless string of riots. Breitbart News reported on Portland businesses leaving downtown after months of rioting. The local CBS affiliate reported that more than half of San Francisco storefronts have shuttered due to the coronavirus and lockdowns. The deterioration of city life certainly helps explain why new home sales surged again this month. These numbers are now at the highest since 2006 and are up over a third from last year. The media paid more attention yesterday to mortgage delinquencies spiking to record levels; that data broke late last week. This is more evidence that the end of some unemployment benefits has begun to ripple through a number of areas of the economy. Tom Barkin of the Richmond Fed warned yesterday, “It’s quite possible even with a vaccine or treatment we will be in a world where highly exposed personal service sectors such as restaurants, retail, and entertainment operate at reduced capacity, with fewer jobs.” This is a sobering but important perspective, especially since there are no known coronavirus vaccines currently in use. Barkin suggested the lagging service sector is particularly bad news for young people. Consumer confidence also plummeted, which is understandable considering Americans’ bank accounts are lighter and the establishment press keeps sharing gloomy virus data ’round the clock. – Alex Marlow, Breitbart News Network --------------------------------------------------------------- TOP STORY [image] [American Airlines Plans 19,000 Furloughs, Layoffs in October]( American Airlines said Tuesday it will cut more than 40,000 jobs, including 19,000 through furloughs and layoffs, in October as it struggles with a sharp downturn in travel because of the pandemic. American executives said the furloughs can only be avoided if the federal government gives airlines another $25 billion to help them cover labor costs for six more months. The airline said 23,500 employees have accepted buyouts, retired early, or taken long-term leaves of absence, but that was not enough to avoid involuntary cuts. The furloughs of union workers and layoffs of management staff announced Tuesday will fall heaviest on flight attendants, with 8,100 being terminated in October. American began the year with about 140,000 employees but expects fewer than 100,000 to remain in October. [[Click here for more]( Recommended Link [The economy will never go back to normal…]( [image]( It wasn’t the least bit normal when this crisis started. Bill Bonner spent the majority of his career trying to figure out how an economy can function on “fake” money. Dan Denning and Bill have discussed this challenge for years. In fact, Bill has been working on this issue since the money system changed on August 15, 1971. In a new report, they explain how that change set in motion a whole financial cycle. They will address where we are now and how to help you make money, instead of losing it in the midst of what could be the worst crisis of our lifetimes. [Get all the details here.]( -- IN OTHER STORIES… [Portland Businesses Pulling Out amid Nightly Riots: City No Longer Clean or Safe]( As the nightly violent Antifa riots continue, businesses are deciding to pull up roots in downtown Portland because of the lawlessness preventing their safe and profitable operation. Greg Goodman, co-president of the Downtown Development Group, wrote a letter to Mayor Ted Wheeler and members of the city council saying businesses in the center of town want to leave the dangerous riot zone behind. [[Click here for more]( [Cuban-American Businessman Warns at RNC: I Hear Echoes of Castro in Chicago, Portland]( Cuban-American businessman Maximo Alvarez, who came to the U.S. alone as a child under Operation Peter Pan, warned the audience at the Republican National Convention Monday that the promises and mob violence characterizing the modern left remind him of the nation he fled. “I’m speaking to you today because I’ve seen people like this before. I’ve seen movements like this before. I’ve seen ideas like this before and I’m here to tell you, we cannot let them take over our country,” Alvarez asserted, referring both to Democrat Party presidential nominee Joe Biden and to the socialist faction of the party that largely supported rival Sen. Bernie Sanders (I-VT). [[Click here for more]( [Amazon Plans to Make Whole Foods’ Human Cashiers Obsolete]( Amazon executive Jeff Wilke, a 20-year veteran of the company, plans to retire next year, but not before completing one of his major projects – eliminating human cashiers at Whole Foods Market locations across the country. [[Click here for more]( [Montana Business Owner: My Company Was ‘One of the First’ to Receive PPP Loan, Was a ‘Lifesaver’ Thanks to Trump]( A Montana coffee shop owner said Monday during the Republican National Convention that her business would not be alive today if it were not for a Paycheck Protection Program (PPP) loan handed out by the Trump administration during the coronavirus shutdowns. [[Click here for more]( --------------------------------------------------------------- FROM THE MAGANOMICS INSTITUTE… [Tesla Needs a Recharge]( Teslas need some work to compete with the experiences other vehicles can give us… [[Click here for more]( [Maganomics]( Maganomics Institute 55 NE 5th Ave, Delray Beach, FL 33484 [www.maganomics.com]( To ensure our emails continue reaching your inbox, please [add our email address]( to your address book. This editorial email containing advertisements was sent to {EMAIL} because you subscribed to this service. 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