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UMI Staking is Your Rock in an Era of Global Economic Crisis
The global economic crisis has been growing on the planet’s body as a huge and painful furuncle for a few years now, but it couldn’t rupture. However, events of the last few months have drastically changed the situation. This year’s coronavirus pandemic became a catalyst of sorts that helped the furuncle finally burst. The global quarantine with its severe restrictions instantaneously brought to light all weaknesses of the global economy — the crisis made dramatically worse and still ripping round all sectors and industries.
According to Standard&Poor’s forecasts, the global GDP is set to shrink by 3.8% in 2020 which is a lot worse than the previously expected 2.4%. On the surface, these numbers may seem quite insignificant, but it’s far from being so. In monetary terms, it translates into trillions (not even billions!) of dollars in losses to be suffered by the world’s companies and the ordinary public.
An economic slump of this scale is an unfortunate event for the most powerful states while for emerging economies it’s a disaster. Even though today analysts predict some economic recovery following relaxation of quarantine measures, they are certain the recovery to at least previous levels will be extremely slow and fraught with difficulties.
To better understand today’s economic climate in the world, let’s look at some graphic examples. These demonstrate the financial insolvency of seemingly stable and successful manufacturing and trading companies. You may be surprised to know it’s the companies everyone has been looking up to.
● Zara, Bershka, Pull&Bear and Massimo Dutti are the trademarks owned by Inditex, a large distribution company and the world’s leading apparel retailer. Due to quarantine measures, the company’s earnings in Q1 2020 fell by as much as 44%, or EUR 3.3 bln. Consequently, Inditex intends to close 1,000–1,200 stores in Europe and Asia. In addition, the company’s management made another strategic decision — that of boosting online sales — and even drafted a two-year plan. It should be noted, however, that online sales do not require as many sales people and support staff as conventional stores. This, in its turn, will contribute to growing unemployment.
● Starbucks Corporation — the world’s most popular US-based coffeehouse chain — also plans to close 400 stores in the US and Canada over the next 18 months. At the same time, the number of carryout stores will grow. Yet again, it means that thousands of wait staff (waiters, bartenders, janitors, etc.) are bound to lose their jobs as this new format has nearly zero demand for this kind of labor.
● Hertz — one of the world’s largest car rental firms owned by the Hertz Corporation — filed for bankruptcy protection back in May. Since the start of the year, demand for the firm’s services plummeted while its debts grew considerably.
● Nike — an American multinational corporation engaged in the manufacturing of sports apparel and footwear — is currently in a deplorable financial condition despite being highly popular all over the world. Based on Q4 2019 data, its net loss amounted to 790 (!) mln US dollars. However, Nike CEO John Donahoe refrained from pointing fingers at COVID-19. The problems were caused by the “overburdened matrix” — this is what Donahoe said while emphasizing that Nike had to simplify its work and increase its speed and responsiveness for the market of the future. To resolve the issue, the corporation would be restructured, with layoffs scheduled to happen in phases. Even though the company’s management “do not yet know how many jobs will be reduced, nor who will be specifically impacted”, a huge number of people will be left unemployed and will hardly be able to easily find new jobs amid a global crisis.
● JCPenney Company (JCP) — one the biggest US retail chains existing since 1902 — has also filed for bankruptcy protection. The company direly needs restructuring of debt resulting in closing of 242 stores all over the United States. This strategy was selected as a way out of the crisis by reducing the amount of debt. It should be noted that the company has been in trouble since 2011, having closed 20% of all stores and laid off about 40% of its staff. It is rumored Amazon intends to purchase the company. However,the goal is not breathing new life into it — Amazon just needs sales premises for new-generation offline stores — such as Amazon Go — that operate with a minimum number of employees, thus contributing to growing global unemployment.
● Berkshire Hathaway Investment Firm founded by Warren Buffett, one of the most famous and affluent players on the stock market, reported $50 bln losses in the previous quarter. The firm said it was due to the coronavirus pandemic “hitting common stock investments”. However, rather than being the reason, it’s most likely the consequence of the global economy being unable to adapt to the current situation.
Also, one of clear signs of the aggravation of the economic recession is a global surge in unemployment. Let’s take the USA, the world’s major economy, as an example. The U.S. unemployment rate jumped to 14.7% in April. That is reported to be the highest level since the Great Depression (that number peaked at 25.6% in May 1933.) Moreover, in late March, the Federal Reserve System (the FED, the U.S. central bank) officially warned of 32% unemployment — meaning that high would be far worse than that during the Great Depression. At that rate hundreds of millions of Americans are at risk losing their jobs.
By now the situation has seen a slight improvement. According to the U.S. Bureau of Labor Statistics, the unemployment rate fell to 11.1%. Nonetheless, that is three times as high as the pre-pandemic rate of 3.5%. With the thorough research of the economic situation in the country, Bloomberg economist warn of a possibility of long-lasting or even permanent unemployment in the USA
Conclusions are as follows:
● First, most of the world’s popular and well-established brands, having billions of employees worldwide, are now facing huge financial issues. The debts they have are huge too. In other words, all their wealth can be called phantom, or bubble — in fact, they are just debtors who in the worst-case scenario may lose everything. In reality creditors — banks, credit unions, investment companies, and other entities owning a great deal of money — rule the world.
● Second, many manufacturing and trading companies began to understand that it’s time to change. In the hope of staying afloat and with the coronavirus-inflicted situation in mind, they are discovering new ways of selling goods — switching form face-to-face interaction to e-commerce or takeaway service. On the one hand, this is a step into the future. On the other hand, these changes involve trading support staff redundancy. The present-day economy is about people losing their job every minute and even more job cuts in the future.
UMI staking provides people with new opportunities that shouldn’t be missed.
The existing economic model, now more than ever before, has completely failed. It needs change, and people need new sources of income.
While the powerful keep producing oil, even with losses, ordinary people join UMI staking to produce cryptocurrency. This is a chance for the entire humanity to resolve economic problems and start a new life. This is an opportunity that allows people to be independent and “create new digital money” on their own.
UMI takes the economy from bankers and gives it to the ordinary public. Our mission is to make people feel happy, even when all around go bankrupt and when human work is no longer valued as it should be, or it becomes unnecessary.
Don’t miss this chance and join UMI staking right away. Despite crises, multiply your coins up to 40% per month!
We care about each of you,
UMI Team
The global economic crisis has been growing on the planet’s body as a huge and painful furuncle for a few years now, but it couldn’t rupture. However, events of the last few months have drastically changed the situation. This year’s coronavirus pandemic became a catalyst of sorts that helped the furuncle finally burst. The global quarantine with its severe restrictions instantaneously brought to light all weaknesses of the global economy — the crisis made dramatically worse and still ripping round all sectors and industries.
According to Standard&Poor’s forecasts, the global GDP is set to shrink by 3.8% in 2020 which is a lot worse than the previously expected 2.4%. On the surface, these numbers may seem quite insignificant, but it’s far from being so. In monetary terms, it translates into trillions (not even billions!) of dollars in losses to be suffered by the world’s companies and the ordinary public.
An economic slump of this scale is an unfortunate event for the most powerful states while for emerging economies it’s a disaster. Even though today analysts predict some economic recovery following relaxation of quarantine measures, they are certain the recovery to at least previous levels will be extremely slow and fraught with difficulties.
To better understand today’s economic climate in the world, let’s look at some graphic examples. These demonstrate the financial insolvency of seemingly stable and successful manufacturing and trading companies. You may be surprised to know it’s the companies everyone has been looking up to.
● Zara, Bershka, Pull&Bear and Massimo Dutti are the trademarks owned by Inditex, a large distribution company and the world’s leading apparel retailer. Due to quarantine measures, the company’s earnings in Q1 2020 fell by as much as 44%, or EUR 3.3 bln. Consequently, Inditex intends to close 1,000–1,200 stores in Europe and Asia. In addition, the company’s management made another strategic decision — that of boosting online sales — and even drafted a two-year plan. It should be noted, however, that online sales do not require as many sales people and support staff as conventional stores. This, in its turn, will contribute to growing unemployment.
● Starbucks Corporation — the world’s most popular US-based coffeehouse chain — also plans to close 400 stores in the US and Canada over the next 18 months. At the same time, the number of carryout stores will grow. Yet again, it means that thousands of wait staff (waiters, bartenders, janitors, etc.) are bound to lose their jobs as this new format has nearly zero demand for this kind of labor.
● Hertz — one of the world’s largest car rental firms owned by the Hertz Corporation — filed for bankruptcy protection back in May. Since the start of the year, demand for the firm’s services plummeted while its debts grew considerably.
● Nike — an American multinational corporation engaged in the manufacturing of sports apparel and footwear — is currently in a deplorable financial condition despite being highly popular all over the world. Based on Q4 2019 data, its net loss amounted to 790 (!) mln US dollars. However, Nike CEO John Donahoe refrained from pointing fingers at COVID-19. The problems were caused by the “overburdened matrix” — this is what Donahoe said while emphasizing that Nike had to simplify its work and increase its speed and responsiveness for the market of the future. To resolve the issue, the corporation would be restructured, with layoffs scheduled to happen in phases. Even though the company’s management “do not yet know how many jobs will be reduced, nor who will be specifically impacted”, a huge number of people will be left unemployed and will hardly be able to easily find new jobs amid a global crisis.
● JCPenney Company (JCP) — one the biggest US retail chains existing since 1902 — has also filed for bankruptcy protection. The company direly needs restructuring of debt resulting in closing of 242 stores all over the United States. This strategy was selected as a way out of the crisis by reducing the amount of debt. It should be noted that the company has been in trouble since 2011, having closed 20% of all stores and laid off about 40% of its staff. It is rumored Amazon intends to purchase the company. However,the goal is not breathing new life into it — Amazon just needs sales premises for new-generation offline stores — such as Amazon Go — that operate with a minimum number of employees, thus contributing to growing global unemployment.
● Berkshire Hathaway Investment Firm founded by Warren Buffett, one of the most famous and affluent players on the stock market, reported $50 bln losses in the previous quarter. The firm said it was due to the coronavirus pandemic “hitting common stock investments”. However, rather than being the reason, it’s most likely the consequence of the global economy being unable to adapt to the current situation.
Also, one of clear signs of the aggravation of the economic recession is a global surge in unemployment. Let’s take the USA, the world’s major economy, as an example. The U.S. unemployment rate jumped to 14.7% in April. That is reported to be the highest level since the Great Depression (that number peaked at 25.6% in May 1933.) Moreover, in late March, the Federal Reserve System (the FED, the U.S. central bank) officially warned of 32% unemployment — meaning that high would be far worse than that during the Great Depression. At that rate hundreds of millions of Americans are at risk losing their jobs.
By now the situation has seen a slight improvement. According to the U.S. Bureau of Labor Statistics, the unemployment rate fell to 11.1%. Nonetheless, that is three times as high as the pre-pandemic rate of 3.5%. With the thorough research of the economic situation in the country, Bloomberg economist warn of a possibility of long-lasting or even permanent unemployment in the USA
Conclusions are as follows:
● First, most of the world’s popular and well-established brands, having billions of employees worldwide, are now facing huge financial issues. The debts they have are huge too. In other words, all their wealth can be called phantom, or bubble — in fact, they are just debtors who in the worst-case scenario may lose everything. In reality creditors — banks, credit unions, investment companies, and other entities owning a great deal of money — rule the world.
● Second, many manufacturing and trading companies began to understand that it’s time to change. In the hope of staying afloat and with the coronavirus-inflicted situation in mind, they are discovering new ways of selling goods — switching form face-to-face interaction to e-commerce or takeaway service. On the one hand, this is a step into the future. On the other hand, these changes involve trading support staff redundancy. The present-day economy is about people losing their job every minute and even more job cuts in the future.
UMI staking provides people with new opportunities that shouldn’t be missed.
The existing economic model, now more than ever before, has completely failed. It needs change, and people need new sources of income.
While the powerful keep producing oil, even with losses, ordinary people join UMI staking to produce cryptocurrency. This is a chance for the entire humanity to resolve economic problems and start a new life. This is an opportunity that allows people to be independent and “create new digital money” on their own.
UMI takes the economy from bankers and gives it to the ordinary public. Our mission is to make people feel happy, even when all around go bankrupt and when human work is no longer valued as it should be, or it becomes unnecessary.
Don’t miss this chance and join UMI staking right away. Despite crises, multiply your coins up to 40% per month!
We care about each of you,
UMI Team