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  • The Worst Is Over: Goldman Finds US Economy Is Now “Through The Trough”

    ZeroHedge - May 13th 2020 10:55am EDT

    The Worst Is Over: Goldman Finds US Economy Is Now “Through The Trough” The worst, for the US economy, is over. That’s the conclusion from Goldman’s chief economist Jan Hatzius, who writes that “the US economy now appears to be through the trough.” Hatzius points to the following chart to show that “a range of […]

  • LA Mayor Backpedals Lockdown Extensions After Furious Reaction 

    ZeroHedge - May 13th 2020 10:45am EDT

    LA Mayor Backpedals Lockdown Extensions After Furious Reaction  The mayor of Los Angeles on Tuesday quickly backpedaled from his top health director’s extension of the stay-at-home order that would now last through July, after residents were furious about further quarantines, reported Reuters.  Barbara Ferrer, LA County’s Health Director, said the new public health order, now […]

  • WTI Spikes After Surprise Crude Draw, Production Plunge

    ZeroHedge - May 13th 2020 10:34am EDT

    WTI Spikes After Surprise Crude Draw, Production Plunge Oil prices have roundtripped from last night’s API print, as overnight gains were erased after OPEC presented a bleaker assessment of global oil markets for the second quarter as the COVID-19 crisis continues to drain demand. Notably, just as OPEC members begin to cut production, the cartel […]

  • Trump Slams Druckenmiller’s Apocalyptic Outlook, Says “So-Called ‘Rich Guys’ Are Betting Against Economy”

    ZeroHedge - May 13th 2020 10:28am EDT

    Trump Slams Druckenmiller’s Apocalyptic Outlook, Says “So-Called ‘Rich Guys’ Are Betting Against Economy” One day after investing legend Stanley Druckenmiller slammed the stock market, saying “the risk-reward for equity is maybe as bad as I’ve seen it in my career,” warned the Fed will not be able to reverse the economic fallout from the coronavirus, […]

  • Flynn Judge Causes Bizarre Delay After DOJ Moves To Dismiss Case

    ZeroHedge - May 13th 2020 10:10am EDT

    Flynn Judge Causes Bizarre Delay After DOJ Moves To Dismiss Case After the Justice Department moved to drop the case against former National Security Adviser Michael Flynn last week, the judge in the case signaled in a filing that he will allow outside parties to file “amicus” filings, also known as “friend-of-the-court” filings, which allow […]

  • Europe In Crisis: German Judges Strike Back, Say ECB Isn’t “Master Of The Universe”

    ZeroHedge - May 13th 2020 10:01am EDT

    Europe In Crisis: German Judges Strike Back, Say ECB Isn’t “Master Of The Universe” One week after Germany’s constitutional court sparked a crisis about the legality of the ECB’s QE, promoting an angry response from both the EU and the ECB, members of Germany’s top court continued to defend their controversial decision that questioned the […]

  • Half Of Illinois’ COVID-19 Deaths Come From Retirement Homes

    ZeroHedge - May 13th 2020 9:44am EDT

    Half Of Illinois’ COVID-19 Deaths Come From Retirement Homes Authored by Ted Dabrowski and John Klingner via Wirepoints.org, More than 85 percent of DuPage County’s 236 COVID-19 deaths originated in long-term care facilities, or LTCs. In McHenry County, the percentage is nearly 80 percent. And in downstate Macon County, all 15 of its deaths are […]

  • Paul Manafort Freed From Prison, Will Serve Rest Of Sentence Under Home Confinement

    ZeroHedge - May 13th 2020 9:25am EDT

    Paul Manafort Freed From Prison, Will Serve Rest Of Sentence Under Home Confinement While a federal judge throws up new roadblocks in the exoneration of Michael Flynn, who was allowed by the DoJ to withdraw from his guilty plea before the charges against him were to be dropped, the lawyer of ex-Trump Campaign Executive Paul […]

  • Powell Says “Fed Not Looking At Negative Rates” Reversing Dovish Kneejerk Reaction

    ZeroHedge - May 13th 2020 9:17am EDT

    Powell Says “Fed Not Looking At Negative Rates” Reversing Dovish Kneejerk Reaction Update: and there it is – after failing to mention negative rates in his prepared remarks, Powell responded to a question from Adam Posen, saying that the FOMC’s view on negative rates has not changed and even though Powell knows “there are fans […]

  • Putting A Price On The S&P 500

    ZeroHedge - May 13th 2020 9:11am EDT

    Putting A Price On The S&P 500 Authored by Michael Lebowitz and Jack Scott via RealInvestmentAdvice.com, Honey, I bought a new set of golf clubs for 40% off. What a deal! Dearest, I also found a bargain. I bought XYZ stock at $30, and it was trading at $50 two weeks ago. Our happy couple […]

  • Watch Live: Jerome Powell’s “Economic Update” And Discussion Of Negative Rates

    ZeroHedge - May 13th 2020 8:52am EDT

    Watch Live: Jerome Powell’s “Economic Update” And Discussion Of Negative Rates In what is this week’s most closely watched event, at 9am Fed Chair Powell will speak live at the Peterson Institute for International Economics (via webcast of course). The description of the event says he’ll make “remarks on current economic issues”, which will be […]

  • The Rise Of Policy-Mistake-Risk

    ZeroHedge - May 13th 2020 8:48am EDT

    The Rise Of Policy-Mistake-Risk Authored by Bill Blain via MorningPorridge.com, “How should men in suits know best when they never brought up the kids?” Headlines remain focused on the Coronavirus. Its terrible, its frightening, its tragic and it’s a very real threat. But it isn’t the primary story. Neither is yesterday’s small wobble in stocks. […]

  • PPI Exposes Real-Life Under Lockdown – Booze Costs Soar As Gas Prices Plunge

    ZeroHedge - May 13th 2020 8:39am EDT

    PPI Exposes Real-Life Under Lockdown – Booze Costs Soar As Gas Prices Plunge After the collapse in consumer prices (surging food costs offset by a collapse in energy costs), producer prices are expected to follow suit but actually printed far worse than expected. Headline PPI fell 1.3% MoM – a record and notably worse than […]

  • Rabobank: US-China Relations Are About To Fall Off A Cliff

    ZeroHedge - May 13th 2020 8:26am EDT

    Rabobank: US-China Relations Are About To Fall Off A Cliff Submitted by Rabobank’s Michael Every The title of today’s Daily may go over the head of those who don’t speak French (even very poorly, like me). It nonetheless still coveys a message, I hope – albeit one that has yet again gone right over the […]

  • Port Of LA Chief: “We Will Need To Reinvent Ourselves”

    ZeroHedge - May 13th 2020 8:20am EDT

    Port Of LA Chief: “We Will Need To Reinvent Ourselves” Authored by Kim Link-Wills of Freight Waves, The Port of Los Angeles loses approximately $400,000 in revenue with each canceled sailing. With 28 blanked sailings forecast for the remainder of the second quarter through June 30, that’s $11.2 million in revenue the port won’t collect. […]

  • Futures Stage Another Overnight Rebound As Dollar Tumbles Ahead Of Powell NIRP Speech

    ZeroHedge - May 13th 2020 8:07am EDT

    Futures Stage Another Overnight Rebound As Dollar Tumbles Ahead Of Powell NIRP Speech   The pajama-traders were active again overnight, ramping US equity futures to overnight highs of 2,870 some 45 points above the late Tuesday lows when fresh fears about new China sanctions accelerated yesterday’s selloff. The rebound was facilitated by another sharp overnight […]

  • Second Wave? China Orders ‘Partial Lockdown’ Of Border City; Seoul’s Newest Cluster Explodes To 120 Cases: Live Updates

    ZeroHedge - May 13th 2020 6:41am EDT

    Second Wave? China Orders ‘Partial Lockdown’ Of Border City; Seoul’s Newest Cluster Explodes To 120 Cases: Live Updates As we reported last night, news that LA County suspects its reopening will take up to 3 months – a month longer than previously expected – sent markets lower into the close. That news, combined with Dr. […]

  • Can Easy Money Really Save The Stock Market? Or Will It Buy More Stagnation?

    ZeroHedge - May 13th 2020 6:00am EDT

    Can Easy Money Really Save The Stock Market? Or Will It Buy More Stagnation? Authored by Amanda Howard via The Mises Institute, After eleven years of nearly uninterrupted advancement, the record-long, QE-spawned bull market is on life support, facing the effects of pandemic lockdown and a massively leveraged global financial system. The sheer scale of […]

  • World’s Largest Sovereign Wealth Fund Is About To Dump $40 Billion In Bonds & Stocks

    ZeroHedge - May 13th 2020 5:30am EDT

    World’s Largest Sovereign Wealth Fund Is About To Dump $40 Billion In Bonds & Stocks One of the world’s biggest piles of oil money is taking some profits and planning to dump nearly $40 billion of assets on the market in the coming months in what Bloomberg described as a “historic” sale. As a uniquely […]

  • Is This The Beginning Of The End Of German Support For NATO?

    ZeroHedge - May 13th 2020 5:00am EDT

    Is This The Beginning Of The End Of German Support For NATO? Authored by Mike Shedlock via MishTalk, Make way for the Greens and the Leftists. They do not want US nuclear weapons on German soil. Angela Merkel will soon be gone. The next German coalition already shares new ideas in many areas including NATO. […]

  • Spanish Beaches Completely Redesigned In Post-Corona World  

    ZeroHedge - May 13th 2020 4:15am EDT

    Spanish Beaches Completely Redesigned In Post-Corona World   Leave it to the Spaniards to come up with “social ropes” as the country attempts to reopen financially battered resort towns this summer after months of closure due to coronavirus lockdowns. Some beaches in Spain are preparing to introduce specially designated areas that are roped off and will separate different ages and family groups […]

  • Europe’s COVID-19 Chaos: Lockdown For Locals, Amnesty For Illegals

    ZeroHedge - May 13th 2020 3:30am EDT

    Europe’s COVID-19 Chaos: Lockdown For Locals, Amnesty For Illegals Authored by Soeren Kern via The Gatestone Institute, European governments are using the coronavirus pandemic to grant mass amnesties to hundreds of thousands of illegal immigrants from Africa, Asia and the Middle East. While Europe is experiencing an economic shock without precedent, and tens of millions […]

  • EU Threatens To Sue After Germany Questions Legality Of ECB Bond Buying Program

    ZeroHedge - May 13th 2020 2:45am EDT

    EU Threatens To Sue After Germany Questions Legality Of ECB Bond Buying Program Germany and the EU are in the midst of an escalating legal struggle that could wreak havoc for the Eurozone.  The struggle came to a head on Sunday when the EU threatened to sue Germany after the country’s top court questioned the […]

  • Who Controls The British Government Response To COVID-19, Part 2

    ZeroHedge - May 13th 2020 2:00am EDT

    Who Controls The British Government Response To COVID-19, Part 2 Authored by Vanessa Beeley via Off-Guardian.org, “To achieve world government, it is necessary to remove from the minds of men their individualism, loyalty to family tradition, national patriotism, and religious dogmas.” – Dr George Brock Chisholm, who served as the first Director-General of the World […]

  • Pentagon Has An Obsession With This Robot Minesweeping Stealth Boat  

    ZeroHedge - May 13th 2020 1:00am EDT

    Pentagon Has An Obsession With This Robot Minesweeping Stealth Boat   The Pentagon has agreed to allocate an additional $20.7 million in funding to AAI Corp., a unit of Textron Systems, for engineering and technical services to develop more robot stealth boats that probe for underwater mines and can attack enemy forces with its machine gun.  AAI’s stealth boat is badass, and made […]