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  • IRS Orders The Dead To Return Stimulus Money

    ZeroHedge - May 6th 2020 6:05pm EDT

    IRS Orders The Dead To Return Stimulus Money One week after Treasury Secretary Steven Mnuchin said that dead people aren’t eligible for stimulus check after it emerged that an unknown number of recently deceased Americans had received a $1200 tax credit as part of the coronavirus helicopter money package, the Internal Revenue Service made sure […]

  • Larry Fink Says Fed Must “Provide More Support” To Markets, Expects Higher Corporate Taxes

    ZeroHedge - May 6th 2020 5:45pm EDT

    Larry Fink Says Fed Must “Provide More Support” To Markets, Expects Higher Corporate Taxes Since the Fed first revealed that it was hiring BlackRock, the world’s largest asset manager, to administer several of the central bank’s new debt-buying programs, front-running the central bank’s asset purchases has became the latest rec du jour. Mnuchin may play […]

  • China Won’t Cooperate With COVID-19 Investigation Until ‘Final Victory’ Against Virus

    ZeroHedge - May 6th 2020 5:25pm EDT

    China Won’t Cooperate With COVID-19 Investigation Until ‘Final Victory’ Against Virus China has refused to allow international experts into the country to investigate the source of COVID-19 until a “final victory” is secured over the virus, according to Beijing’s UN ambassador Chen Xu. According to France 24, China’s first priority is beating the pandemic, then […]

  • Police Are Complicit In Politicians’ Disregard For The Rule Of Law

    ZeroHedge - May 6th 2020 5:05pm EDT

    Police Are Complicit In Politicians’ Disregard For The Rule Of Law Authored by Ryan McMaken via The Mises Institute, People of a certain age might remember the old John Birch Society slogan “Support your local police!” The idea here is that your local policeman is a liberty-loving buddy of yours who would only ever support just […]

  • “Biblical” Wave Of Bankruptcies Is About To Flood The US

    ZeroHedge - May 6th 2020 4:45pm EDT

    “Biblical” Wave Of Bankruptcies Is About To Flood The US One of the silver linings of the coronacrisis to date is that despite the unprecedented collapse in the broader economy and the 30 or so million unemployed, the pace of bankruptcy filings has been relatively stead compared to the pre-covid levels, as the following Goldman […]

  • Lyft Soars After Smashing Expectations, But An Ugly Future Awaits

    ZeroHedge - May 6th 2020 4:28pm EDT

    Lyft Soars After Smashing Expectations, But An Ugly Future Awaits Back at the start of February, just before the world shut down due to the Wu Flu, Uber delighted investors when it predicted that it would (somehow) reach profitability one year ahead of schedule, a move which its main competitor Lyft failed to copy, and […]

  • While Pandemic Destroys Lives, The Surveillance State Celebrates

    ZeroHedge - May 6th 2020 4:25pm EDT

    While Pandemic Destroys Lives, The Surveillance State Celebrates Authored by Lee Camp via ConsortiumNews.com, If we don’t fight back against the secretive surveillance state growing steadily around us, your wife/husband may find out you love a Cinnabon more than you love her/him. And that might be just the beginning of it. While many of us […]

  • Nasdaq Continues Record Run Despite Biggest Job Loss Ever

    ZeroHedge - May 6th 2020 4:01pm EDT

    Nasdaq Continues Record Run Despite Biggest Job Loss Ever Nasdaq outperformed once again today…(as everything else lagged)…NOTE – like yesterday, everything got a bit jiggy in the last 20-30 mins… …because nothing says buy stocks like over 20 million job losses!! Source: Bloomberg Sending the Nasdaq Composite within a few points of unchanged for 2020… […]

  • “Land Of The Free?” – The Polarizing Politics Of A Pandemic Exposed

    ZeroHedge - May 6th 2020 3:50pm EDT

    “Land Of The Free?” – The Polarizing Politics Of A Pandemic Exposed America’s polarization continues to increase by the day. Political and economic divides among Democrats and Republicans predate the pandemic, but lockdowns are now catalyzing new divides and exacerbating old ones. Before diving into the new survey, generally speaking, Midwest and Southeast states are dominated by Republican governors. […]

  • “Extraordinarily Uncertain” Indeed

    ZeroHedge - May 6th 2020 3:35pm EDT

    “Extraordinarily Uncertain” Indeed Authored by Michael Lebowitz and Jack Scott via RealInvestmentAdvice.com, On April 29, 2020, Jerome Powell said: “both the depth and duration of the economic downturn are extraordinarily uncertain.” We are often critical of Federal Reserve policy and contradictory economic jargon coming from Fed presidents and governors.  However, to our amazement, Fed Chairman Jerome […]

  • Belgium Accuses China Of Bio-Espionage; Targeted Biological Warfare Program And Vaccine Experts

    ZeroHedge - May 6th 2020 3:20pm EDT

    Belgium Accuses China Of Bio-Espionage; Targeted Biological Warfare Program And Vaccine Experts Belgian intelligence suspects Chinese spies of targeting biological warfare and vaccine experts, according to Belgium’s security service, which also believes Beijing is targeting the Belgium office of British pharmaceutical giant and vaccine manufacturer GlaxoSmithKline (GSK) as well as domestic high-tech firms, according to […]

  • 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 […]