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  • History Prof Debunks Central Claim In Pulitzer-Winning New York Times ‘1619 Project’

    ZeroHedge - May 6th 2020 3:06pm EDT

    History Prof Debunks Central Claim In Pulitzer-Winning New York Times ‘1619 Project’ Authored by Jon Street via CampusReform.org, A Northwestern University history professor called into question the accuracy of a New York Times Magazine essay that won a Pulitzer Prize.  The Pulitzer Prize Board announced Monday that Nikole Hannah-Jones had won a Pulitzer Prize for her essay published as […]

  • “Stocks Have Never Been More Expensive”: Disconnect Between Markets And Reality Hits Idiotic Levels

    ZeroHedge - May 6th 2020 2:50pm EDT

    “Stocks Have Never Been More Expensive”: Disconnect Between Markets And Reality Hits Idiotic Levels One month ago, with the S&P500 staging an impressive V-shaped rebound from the March 23 lows after the Fed unleashed a nuclear bomb of monetary stimulus, we showed that forward stock multiples had surged right back 19.4x, which was just above […]

  • “Desperate” Hedge Fund Sold CLO At 80% Discount In Liquidity Panic

    ZeroHedge - May 6th 2020 2:20pm EDT

    “Desperate” Hedge Fund Sold CLO At 80% Discount In Liquidity Panic A few weeks ago we reported that something “impossible” just happened in the world of structured credit: a CLO had just failed its AAA overcollateralization test, an event that was formerly considered impossible perhaps because it did not take place even during the depths […]

  • Jim Bianco Warns Buying When (& What) The Fed Is Buying May Not Work Anymore

    ZeroHedge - May 6th 2020 2:05pm EDT

    Jim Bianco Warns Buying When (& What) The Fed Is Buying May Not Work Anymore Authored by James Bianco, op-ed via Bloomberg.com, The S&P 500 Index has rallied 28% from its low this year on March 23, with Wall Street praising the Federal Reserve for basically creating money to purchase a broad range of securities, […]

  • “Hostile” Russia Excluded From Trump’s ‘Moon Mining Pact’ Dubbed The Artemis Accords

    ZeroHedge - May 6th 2020 1:50pm EDT

    “Hostile” Russia Excluded From Trump’s ‘Moon Mining Pact’ Dubbed The Artemis Accords In a bombshell exclusive, Reuters reports the Trump administration is readying plans to initiate a pact among US allies for mining the moon:  The Trump administration is drafting a legal blueprint for mining on the moon under a new U.S.-sponsored international agreement called […]

  • As The Gold Market Broke In March, HSBC Was Hit With A Record 12 VaR Breaches

    ZeroHedge - May 6th 2020 1:20pm EDT

    As The Gold Market Broke In March, HSBC Was Hit With A Record 12 VaR Breaches Every quarter, banks proudly announce their VaR limits to demonstrate to the world just how overcapitalized they are for a worst case scenario. The only problem is that VaR calculations look at the past, not future, and when we […]

  • Fed Study Ties 1918 Flu Pandemic To Rise Of “Right Wing Extremist” Nazi Party

    ZeroHedge - May 6th 2020 1:05pm EDT

    Fed Study Ties 1918 Flu Pandemic To Rise Of “Right Wing Extremist” Nazi Party Well, as TargetLiberty.com’s Robert Wenzel notes,  this is quite a justification for more government spending and for keeping an eye on “right-wing extremists.” [tl;dr] – High death tolls from the 1918 influenza pandemic likely helped the Nazis gain power in “crucial” […]

  • Thousands Donate To GoFundMe For Jailed Salon Owner Who Stood Up To Judge In Viral Video

    ZeroHedge - May 6th 2020 12:45pm EDT

    Thousands Donate To GoFundMe For Jailed Salon Owner Who Stood Up To Judge In Viral Video A GoFundMe account set up for a Texas salon owner who was sentenced to seven days in jail for denying Governor Greg Abbott’s stay-at-home rules has raised over $175,000 as of this writing. Shelly Luther, owner of Salon À […]

  • They Want To Make “Social Distancing” A Permanent Part Of Our Lives

    ZeroHedge - May 6th 2020 12:25pm EDT

    They Want To Make “Social Distancing” A Permanent Part Of Our Lives Authored by Michael Snyder via TheMostImportantNews.com, Humans are inherently social creatures, and that is never going to change.  Within each one of us there is a fundamental need for connection with others, but now these coronavirus lockdowns have separated us from one another […]

  • Lord & Taylor Plans To Liquidate, ‘Going Out Of Business’ Sales Expected As Soon As Stores Reopen

    ZeroHedge - May 6th 2020 12:05pm EDT

    Lord & Taylor Plans To Liquidate, ‘Going Out Of Business’ Sales Expected As Soon As Stores Reopen During an interview with Bloomberg News that aired yesterday, billionaire real-estate investor Sam Zell warned that Americans probably won’t realize the depths of the economic scarring caused by the coronavirus shutdown until restrictions are lifted, and thousands of […]

  • Rabo: Voluntary Lockdowns Are Worse Than Official Ones As They Can’t Be Turned Off By Decree

    ZeroHedge - May 6th 2020 11:45am EDT

    Rabo: Voluntary Lockdowns Are Worse Than Official Ones As They Can’t Be Turned Off By Decree Submitted by Michael Every Of Rabobank Confidence-building The US is weighing winding-down its White House virus task force. It’s not yet winding down the actual virus itself, regrettably, though it may well be past the peak in New York. […]

  • Comptroller Warns 1 In 5 Jobs Will Evaporate As NYC Faces Biggest Crisis Since Great Depression

    ZeroHedge - May 6th 2020 11:25am EDT

    Comptroller Warns 1 In 5 Jobs Will Evaporate As NYC Faces Biggest Crisis Since Great Depression During the depths of the financial crisis as Lehman collapsed and fears about another Great Depression spiked, nearly 200,000 Wall Street professionals lost their jobs. But that figure will likely pale in comparison to the broad-based economic destruction brought […]

  • America Has Become “The Land Of The Snitches” During This Coronavirus Pandemic

    ZeroHedge - May 6th 2020 11:05am EDT

    America Has Become “The Land Of The Snitches” During This Coronavirus Pandemic Authored by Michael Snyder via TheMostImportantNews.com, For those that wondered if Americans would be willing to report on their neighbors on a widespread basis during a major crisis, you now have your answer.  All over the country, calls have been pouring in to […]

  • Nomura’s McElligott Turns Bearish: With No More Buyers Left, Stocks To Slide Across The Summer

    ZeroHedge - May 6th 2020 10:50am EDT

    Nomura’s McElligott Turns Bearish: With No More Buyers Left, Stocks To Slide Across The Summer Failing to take advantage of positive dealer gamma, the S&P is now stuck in “no man’s land” and as Nomura’s Charlie McElligott writes in his latest note, the market is “essentially near the Dealer “Neutral Gamma” level (~2845) and between […]

  • WTI Rebounds On Smaller-Than-Expected Crude Build, Production Cuts

    ZeroHedge - May 6th 2020 10:38am EDT

    WTI Rebounds On Smaller-Than-Expected Crude Build, Production Cuts Oil prices suddenly tumbled this morning after a five-day surge as it appears the surge in ADP unemployment data (completely expected) seemed to remind the machines of the persistent concern that the global glut will take a long time to eliminate as demand remains crushed by the […]

  • Uber Slashes 3,700 Jobs As Lockdowns Crush Gig-Economy 

    ZeroHedge - May 6th 2020 10:33am EDT

    Uber Slashes 3,700 Jobs As Lockdowns Crush Gig-Economy  On Tuesday, it was Airbnb Inc. announcing layoffs. Now it appears Uber has done the same, indicating in a company filing on Wednesday morning that it will cut 3,700 of its 26,900 employees or about 14% of its workforce. “On May 6, 2020, Uber Technologies, Inc. (the “Company”) announced plans […]

  • Illinois Delays $1.2 Billion Bond Issue. Will It Tap New Fed Bailout Program?

    ZeroHedge - May 6th 2020 10:20am EDT

    Illinois Delays $1.2 Billion Bond Issue. Will It Tap New Fed Bailout Program? Authored by Ted Dabrowski via Wirepoints.org, Illinois has postponed a planned $1.2 billion short-term bond issue for tomorrow and says the deal is now day-to-day. The state plans another $1 billion the following week.  The state wants the $1.2 billion to ease cash flow issues stemming […]

  • Grenell Gives Schiff Ultimatum: ‘Release Secret Russiagate Transcripts Or I Will’

    ZeroHedge - May 6th 2020 10:04am EDT

    Grenell Gives Schiff Ultimatum: ‘Release Secret Russiagate Transcripts Or I Will’ Acting Director of National Security Richard Grenell has given Rep. Adam Schiff (D-CA) and ultimatum; release 53 the transcripts from 53 secret interviews conducted by the House Intelligence Committee’s Trump-Russia investigation, or Grenell will do it through the Office of the Director of National […]

  • Why It’s Different This Time, Part 2: This Isn’t Just Another Crash

    ZeroHedge - May 6th 2020 9:45am EDT

    Why It’s Different This Time, Part 2: This Isn’t Just Another Crash Authored by Charles Hugh Smith via The Daily Reckoning blog, Read Part 1 here… Like addicts who cannot control their cravings, financial analysts cannot stop themselves from seeking some analog situation in the past which will clarify the swirling chaos in their crystal […]

  • Trump Flip-Flops, Insists Coronavirus Task Force Will Continue “Indefinitely”

    ZeroHedge - May 6th 2020 9:32am EDT

    Trump Flip-Flops, Insists Coronavirus Task Force Will Continue “Indefinitely” After the NYT reported – then VP Pence confirmed – that the White House would be winding down its controversial coronavirus ‘task force’ – the vehicle that launched Dr. Tony Fauci to superstardom but was also widely panned for its chaotic approach, repetitiveness and penchant for […]

  • TBAC Sees “Perfect Storm” In Bond Market, Warns Flood In New Debt May Impair “Market Functioning”

    ZeroHedge - May 6th 2020 9:28am EDT

    TBAC Sees “Perfect Storm” In Bond Market, Warns Flood In New Debt May Impair “Market Functioning” Here’s the problem in a nutshell: the Treasury has a $2.7 trillion funding need (to pay for all those bailouts) this quarter which will lead to a record $3 trillion in debt sales just this quarter, and while it […]

  • US/UK Intelligence Warn China Is Trying To Hack Bio-Labs Working On COVID Research

    ZeroHedge - May 6th 2020 9:07am EDT

    US/UK Intelligence Warn China Is Trying To Hack Bio-Labs Working On COVID Research Authored by Steve Watson via Summit News, Intelligence agencies in the UK and the US have jointly warned that ‘rival states’ are conducting ‘malicious cyber campaigns’ against universities, pharmaceuticals and research institutes carrying out research on the coronavirus. A joint advisory published Tuesday by […]

  • Yields Surge After Treasury Announces Record $96BN In Treasury Refunding, Launches 20-Year Coupon Bond

    ZeroHedge - May 6th 2020 8:47am EDT

    Yields Surge After Treasury Announces Record $96BN In Treasury Refunding, Launches 20-Year Coupon Bond Two days after the Treasury announced it would sell a record $3 trillion (sorry, $2.999 trillion) in debt in the current quarter… … moments ago we got the details of what the upcoming helicopter money takeoff will look like when the […]

  • Texas Bar Owner, Quarantine Protesters Arrested After SWAT Team Swoops In

    ZeroHedge - May 6th 2020 8:45am EDT

    Texas Bar Owner, Quarantine Protesters Arrested After SWAT Team Swoops In A SWAT team in the western Texas town of Odessa arrested a bar owner and a group of armed men conducting a peaceful protest against the coronavirus lockdown on Monday, after police say they violated the state’s order to remain closed. According to Everything […]

  • “It’s Going To Get A Lot Worse” – Underestimating The Buba/ECB Split

    ZeroHedge - May 6th 2020 8:36am EDT

    “It’s Going To Get A Lot Worse” – Underestimating The Buba/ECB Split Authored by Bill Blain via The Morning Porridge, “Let us sing more cheerful songs, more songs full of joy!” I am wondering if my FT App is broken? I opened it this morning and the front pages of the Pink Un didn’t rate […]