Looming pain for tenants with freeze on rental evictions set to end as economic fallout of coronavirus continues

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Tenants Queensland says the Federal Government must extend a moratorium on rental evictions to stop thousands of tenants in financially precarious situations from “falling off a cliff” amid the ongoing economic fallout of the coronavirus pandemic.

Earlier this year, the Government imposed a ban on landlords evicting tenants who had lost jobs or income due to the pandemic.

The freeze has applied to any tenants who has suffered an income loss of 25 per cent, and to those whose rent equates to more than 30 per cent of their income.

With the freeze on evictions due to end on September 30, advocacy groups and tenants are anxious for extensions to be granted until December 31.

Mum risks homelessness amid rent dispute

Joanne Harding-Smith rents a shopfront in Samford, north of Brisbane, where she runs a travel agency business.

Due to global coronavirus travel restrictions, Ms Harding-Smith lost 97.3 per cent

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Coronavirus Erodes Countries’ Economic Resilience; Global Insurance Gaps Widen

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The COVID-19 pandemic is expected to reduce global macroeconomic resilience by about 20% in 2020 from 2019 levels as stimulus packages deplete countries’ fiscal and monetary buffers around the world.

At the same time, the combined global protection gap for key perils is reaching a new high.

According to the latest annual Swiss Re Institute resilience indices, the UK, Japan and the U.S. will experience the greatest falls in resilience among major economies. Switzerland, Finland and Canada remain the world’s three most resilient countries, reflecting their comprehensive economic strength against future crises.

Global economic resilience held up in 2019 compared with 2018, but the world entered the COVID-19 crisis with less shock-absorbing capacity than before the global financial crisis of 2008-09, the last major economic downturn. The Swiss Re Institute Macroeconomic Resilience Index (E-RI) for the world stood at 0.62 in 2019, against 0.61 in 2018.

Key findings:

  • COVID-19 is
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U.S. Bureau of Economic Analysis (BEA)

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Exploring the Space Economy

February 6, 2020

BEA has launched a research project to measure the multibillion-dollar U.S. space economy, such as satellites, rocket launches, and benefits like GPS navigation here on Earth.

The goal is to create a prototype set of statistics showing the space sector’s impact on the national economy. We are researching how to measure both public programs and private endeavors, with emphasis on capturing the value of the expanding commercial space…

December 2019 Trade Gap is $48.9 Billion

February 5, 2020

The U.S. monthly international trade deficit increased in December 2019 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $43.7 billion in November (revised) to $48.9 billion in December, as imports increased more than exports. The previously published November deficit was $43.1 billion. The goods deficit increased $5.1 billion in December to $69.7 billion. The services surplus

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