Top Stories From the Breitbart News Desk

[Maganomics Daily]( Top Stories From the Breitbart News Desk The news of yesterday started out so positive. Pfizer announced that its COVID-19 vaccine was now coming in at 95% effective and appears to be safe enough to support an Emergency Use Authorization. Federal aviation officials ungrounded the Boeing 737 Max, pronouncing the plane safe to fly after an 18-month grounding. Homebuilding continued to soar in October, according to Commerce Department data released yesterday. Stocks moved into the green at the open. But stocks wobbled as the morning unfolded, as investors began to worry that the surge of the virus was outpacing the vaccines and economically destructive lockdowns were becoming more likely. Maybe things could get worse before they get better. And then they did get worse. All the indexes turned sharply lower when New York City Mayor Bill de Blasio dropped the news that the city’s school system, the largest in the country, would close its doors again starting today. He said the city’s positive-COVID-test rating had hit the 3% threshold set over the summer as the trigger for a shutdown. Apparently, the mayor uses different figures from New York Governor Andrew Cuomo, who had reported an hour or so earlier that the test positivity rate was just 2.5%. At the very least, the competing figures suggest that whatever is guiding policy is not “the science.” [Banks Preparing for Major Devaluation of the U.S. Dollar]( Just as New York schools were a bellwether for the nationwide shutdowns in the spring, so they may turn out to be now. New York’s test positivity is actually one of the lowest in the country, so any politician looking for a justification to shut down businesses or events has a rationale ready at hand. Ironically, the vaccines may make it easier to foist lockdowns on the public on the grounds that we have to lock down only until a vaccine is available. This will almost certainly keep the great surge out of cities going. Many New York parents who thought they could hang on a bit longer will give up hope. Parents in other cities hoping that schools, sports, and other activities might restart will be dispirited. A house away from the crime, COVID, and lockdowns will seem very appealing. Yesterday’s housing starts figures showed that single-family homebuilding is up nearly 30% compared with a year ago. Is there room for further acceleration? We’re probably going to find out. – Alex Marlow, Breitbart News Network --------------------------------------------------------------- TOP STORY [image] [Bill de Blasio Shuts Down New York City Schools Again]( New York City schools will be closed for in-school instruction starting Thursday, Mayor Bill de Blasio said Wednesday. The move to shutter the schools comes eight months after schools shut down in mid-March. Most schools around the city had partially reopened, offering families the option of a “blended” education that included in-school instruction two days a week. Over the summer, when the test-positivity rate was below 1 percent, the mayor said that schools would be automatically shut if the 7-day positivity rate in COVID tests hit three percent. On Wednesday, de Blasio said that threshold had been reached. [[Click here for more]( Recommended Link [An Urgent Briefing]( [ad_img]( Dan Denning here, Bill Bonner's longtime colleague. This is the most dangerous – and potentially profitable – market that could come around in our lifetime. Bill and I teamed up with some of the brightest investment minds who appear to have predicted exactly what’s happening right now… …and who are showing their readers how to make (or preserve) money, instead of losing it in the midst of what could be the worst crisis of our lifetime. To hear from these experts, and find out what you can do to profit, [click here to read Bill’s urgent briefing.]( [Click here]( - IN OTHER STORIES… [Coronavirus: European New Car Sales Slump]( After a one-month reprieve, passenger car sales in Europe slumped again in October amid new restrictions in many countries aimed at containing a resurgence of the coronavirus, the European carmakers´ association reported Wednesday. The European industry registered 953,616 new cars last month, a decrease of 7.8%, and a reversal of fortunes after September marked the first increase of the year. Demand dropped by 21% in Spain, 9.5% in France, and 3.6% in Germany. [[Click here for more]( [U.S. Housing Starts Jump Amid Flight to Suburban Homes]( Construction started on new homes in the U.S. in October at a faster pace than expected, with a sharp rise in single-family homebuilding. Residential starts increased 4.9 percent to a 1.53 million annualized rate from a month earlier, according to a government report released Wednesday. The median forecast in an Econoday survey of economists called for a 1.46 million pace. Applications to build, a proxy for future construction, held steady at a 1.54 million rate, slightly below forecasts. Single-family home construction jumped 6.4 percent to an annualized rate of 1.179 million. [[Click here for more]( [Democrats Want $5.5 Billion Bailout of New York City’s Illegal Population]( The coronavirus crash has completely impoverished New York City’s huge illegal-migrant population, so it needs a bailout from billionaires, says a far-left group of open-border activists. The advocacy group, Make the Road NY, wants to raise $5.5 billion from 120 New York billionaires to provide roughly $750 per week in aid for up to 1.2 million illegal migrants and their dependents. Numerous Democratic legislators back the campaign. [[Click here for more]( --------------------------------------------------------------- FROM THE MAGANOMICS INSTITUTE… [$35 Billion Is a Small Price to Pay Farmers]( 2020 is going to be a record year for payments to farmers… And for good reason. [[Click here for more]( --------------------------------------------------------------- Get Instant Access Click to read these free reports and automatically sign up for daily research. [image]( [The Ultimate Guide to Taking Back Your Privacy]( [image]( [An Insider’s Guide to Making a Fortune from Small Tech Stocks]( [image]( [Trading Basics: Two Building Blocks Every Trader MUST Know]( [Maganomics]( Maganomics Institute 55 NE 5th Avenue, Delray Beach, FL 33483 [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. To stop receiving these emails, click [here](. 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