“Never Built To Fight A 50-State Pandemic”: DHS Medical Emergency Stockpile Nearly Depleted In yet more dire outbreak-induced medical supplies shortage news, the federal government’s own emergency stockpile of respirator masks, gloves, and ventilators is already nearly depleted. Two Homeland Security Department officials told the Washington Post that crucial supplies kept in the Health and Human Services Department’s Strategic National Stockpile are […]
“When The Tide Rolls Out”: Jim Chanos Delivers CNBC Master-Class In Shorting Stocks Jim Chanos had a good start to the day today. Hours before his appearance on CNBC, where he weighed in on a number of topics, he had already covered his short on Luckin Coffee. Recall, we reported this morning that Luckin Coffee was […]
“50-Cent” Shifts Away From VIX ‘Catastrophe Insurance’: “Gold Is Now The Right Place To Be For Battles Ahead” Having ‘come out’ as the infamous VIX-whale “50-Cent,” London-based fund manager Jonathan Ruffer has called it quits on his VIX-call-buying strategy: “In sum, the catastrophe insurance did absolutely everything that might be expected of it. And it […]
Here Comes The Next Crisis: Up To 30% Of All Mortgages Will Default In “Biggest Wave Of Delinquencies In History” Unlike in the 2008 financial crisis when a glut of subprime debt, layered with trillions in CDOs and CDO squareds, sent home prices to stratospheric levels before everything crashed scarring an entire generation of homebuyers, […]
Fed’s Balance Sheet Hits $6 Trillion: Up $1.6 Trillion In 3 Weeks “We’re going to need a bigger chart.” That’s all one can say when seeing what happened to the Fed’s balance sheet in the past week. According to the Fed’s latest weekly H.4.1 (i.e., balance sheet) update, as of April 1 the Fed’s balance […]
Real-World Problems: The Current State Of The Gold Market In Plain Language Written By Sam Laakso for Voima Insight, There have been recent rumors in the gold market about the availability of physical gold. Some social media personalities and news agencies have claimed that there is a shortage of physical gold on the market. However, […]
Federal Prison System Goes Into Lockdown Mode To Prevent Virus Outbreak The Bureau of Federal Prisons (BOP) issued an order this week, directing all prisons to lockdown facilities and keep inmates in cells for two weeks. The order will affect 122 federal prison facilities across the country. Bureau Director Michael Carvajal activated “Phase 5 of its COVID-19 Action Plan” […]
Watch Live: Trump Holds Thursday Briefing Amid Reports White House Will Push Masks On Public Following reports about the administration deciding on an official ‘recommendation’ that the public wear facemasks when outside, President Trump, Vice President Pence and the rest of the White House coronavirus task force are holding their Thursday press briefing. Over the […]
Peter Schiff: It’s Not Going To Be Fine Via SchiffGold.com, We just wrapped up the worst first quarter in the history of the US stock market. Think about that in context. Even during the dark days of the Great Depression, there has never been a worse start to a year for the US stock market […]
Uber, Lyft Revenues Drop By Staggering 50% Due To Coronavirus Outbreak The one-time IPO darlings of yesteryear are about to take another beating. We already knew that the COVID-19 pandemic would deliver a huge blow to the so-called ‘sharing economy’, at least in the short term,as Airbnb to permanently delay plans for an IPO and […]
CBO Reveals Apocalyptic Forecast: Expects -28% GDP, 10% Unemployment Rate One of the many side effects of the coronavirus pandemic is that it has thrown out all recent economic forecasts right out of the window, certainly those of the perpetually cheerful CBO. In a publication released on Thursday afternoon, the CBO said that it now […]
Trump Sparks “Sh*tshow” In Black-Gold As Bullion Demand Soars To 3-Year Highs Two things were “unprecedented” today… America’s labor market collapse and global oil markets’ surge in price. Just shy of 10 million Americans have signed up for unemployment benefits in the last two weeks… quite an outlier historically… Source: Bloomberg For oil traders, it […]
Amazon Bans Sale Of N95 And Surgical Masks To General Public Amazon has banned the sale of N95 and surgical masks to the general public, claiming it would restrict sales to hospitals and government organizations dealing with the COVID-19 pandemic. The ban took effect April 1, according to Recode, after the company said in a […]
Trump Issues Order Compelling Companies To Supply Ventilator-Makers “To Save American Lives” President Donald Trump issued an order under the Defense Production Act to speed production of ventilators after state officials raised alarm that supplies are inadequate for coronavirus patients. Trump signed an executive order directing the Department of Health and Human Services to ensure supplies for: […]
Fitch Downgrades 9 Retailers In One Day, Including Macy’s, Nordstrom And J.C. Penney Authored by Ben Unglesbee of RetailDive, Summary: Ratings agency Fitch has downgraded 11 consumer and retail companies because of the financial disruption caused by the COVID-19 pandemic. On Wednesday alone, Fitch downgraded credit ratings for nine retailers, according to emailed client notes. […]
Bill Gates Slams White House, Insists US Needs “National Social Isolation Policy” To Combat COVID-19 Bill Gates has been warning about the risk of a global pandemic for years. And since the novel coronavirus slammed the US, he’s been advocating a “super painful” 10-week national shutdown that has earned him plenty of criticism for being […]
US Box Office Sales Collapse To Just $5,179; Was $204 Million During Same Period Last Year As millions of Americans spend quality time with their families to avoid the global pandemic, box office sales across the US have predictably cratered – falling to just $5,179 from March 20 through March 26 as movie theaters across […]
Robert Kraft Ferries Nearly 2 Million N95 Masks Back To US On Patriots’ Private Jet Now that Tom Brady has left town, it looks like the Patriots are getting a jump start on trying to convince the rest of the country to stop hating the most successful franchise in football. Bloomberg reported Thursday that team […]
Unprecedented Demand Destruction Marks The Return Of Crude’s Super-Contango Authored by Tsvetana Paraskova via OilPrice.com, These days, every corner of the oil market is “unprecedented” – from the demand destruction to the supply surge and the resulting glut. The oil futures curve is no exception and is also in a state never seen before. This […]
Hours Before Its Start, The Treasury’s Small Business Bailout Is On The Verge Of Collapse Tonight at midnight, the most critical – if hardly biggest – part of the Fed’s $2 trillion fiscal stimulus is expected to begin: that’s when small and medium business with 500 employees or less can request a loan of up […]
Some Americans Might Wait 20 Weeks Or Longer For Coronavirus Stimulus Checks Around the country, millions of Americans are anxiously wondering when their stimulus checks will be arriving, as they hope to God that they have a job to come back to, or that – if they’ve already been laid off – the government stimulus […]
VIX Whale Known As “50 Cent” Speaks: “Our Catastrophe Insurance Did Absolutely Everything We Expected” Since 2017, we have been following the bread-crumbs of the mysterious VIX-whale nicknamed “50-Cent” – so-called for his habit of scooping up super-cheap VIX calls at a price around 50c (and with very good timing): April 2017 – Who Is […]
The Federal Reserve’s One Last Hail Mary Authored by Alexander Deluce via GoldTelegrapoh.com, Over the last few weeks, the Federal Reserve has been in utter desperation mode to try to revive and keep the American economy on life support. What many in the mainstream media have failed to include in this recent coronavirus economic narrative […]
Democrats Rage As Google Bans Ads From Trump’s COVID-19-Critics Top Democratic strategists are furious that Google banned ads from mentioning or even discussing COVID-19, as they ramp up their efforts to criticize President Trump’s virus response on the internet. Democrats say the Google ban allows the Trump administration to promote its response to the crisis […]
GE Aviation Lays Off 50% Of Engine Manufacturing Staff Unlike Boeing, which offered all of its 160,000 employees “voluntary buyouts” just so it can still keep its bailout option alive which would certainly be snuffed if the company were to announce mass layoffs, General Electric has no such qualms and moments ago the company told […]
Featured News
Click on this icon next to any post to promote it here!
