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  • 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 […]

  • Oil Suddenly Crashes After Jobs Report

    ZeroHedge - May 6th 2020 8:27am EDT

    Oil Suddenly Crashes After Jobs Report It would appear no one told the machines that ADP would report a devastatingly ugly jobs print this morning… Oil started sliding earlier but the ‘better than expected’ ADP print actually seemed to spark a panic puke for some reason ahead of this morning’s EIA inventory/production report.     […]

  • “Unprecedented” – Companies Slashed Over 20 Million Jobs In April, ADP

    ZeroHedge - May 6th 2020 8:19am EDT

    “Unprecedented” – Companies Slashed Over 20 Million Jobs In April, ADP Given the fact that over 30 million Americans have filed for initial jobless claims in the last six weeks, it is perhaps no surprise that economists expected a 20.5 million ADP job loss in April. In fact, silver lining, the number ‘beat’ with 20.236 […]

  • ‘Everything Is Fixed’: China Sees 0 New Coronavirus Cases As Brussels Warns Outbreak Could Destroy EU: Live Updates

    ZeroHedge - May 6th 2020 7:33am EDT

    ‘Everything Is Fixed’: China Sees 0 New Coronavirus Cases As Brussels Warns Outbreak Could Destroy EU: Live Updates Summary: China reports 0 new cases Brussels warns of massive contractions, virus threatens EU Russia reports 10k+ cases for 4th day in a row Volkswagen reports China sales may near pre-corona targets for 2020 NYC subway closes […]

  • Here Is The “Achilles Heel” Of The Fed’s ETF Buying Program

    ZeroHedge - May 6th 2020 7:29am EDT

    Here Is The “Achilles Heel” Of The Fed’s ETF Buying Program Last Friday, Bank of America and Jeff Gundlach opened a can of worms when they pointed out two things: i) that the Fed had not yet bought a single corporate bond under its month-old Secondary Market Corporate Credit Facility and ii) that it’s time […]

  • Mysterious Coronavirus-Linked Syndrome Spreads From London To New York

    ZeroHedge - May 6th 2020 6:30am EDT

    Mysterious Coronavirus-Linked Syndrome Spreads From London To New York An unusually deadly coronavirus-linked respiratory syndrome initially observed among a cluster of children in the UK has apparently popped up in New York City, according to local media reports. ABC 7 says a group of 15 children in NYC have been hospitalized with unusual symptoms similar […]

  • “Where’s The Beef?” – Not On The Horizon!

    ZeroHedge - May 6th 2020 6:00am EDT

    “Where’s The Beef?” – Not On The Horizon! Authored by Tom Luongo via Gold, Goats, ‘n Guns blog, The reports continue to come in that there’s a real problem with the U.S. food supply. From McDonald’s reviewing their supply chain for beef to the pleas of ranchers already staring at feeding issues with last year’s […]

  • “Winter-Like Chill” Targets East For Mother’s Day Weekend 

    ZeroHedge - May 6th 2020 5:30am EDT

    “Winter-Like Chill” Targets East For Mother’s Day Weekend  Warming weather trends across the US over the last week forced many people out of their homes and into parks and beaches, to only ignore the government enforced stay-at-home public health orders. Now there’s a blast of frigid air that is expected to bring record-low temperatures in some areas for […]

  • While Brits Are On Lockdown, 100,000 People From Abroad Arrive At Airports Every Week

    ZeroHedge - May 6th 2020 5:00am EDT

    While Brits Are On Lockdown, 100,000 People From Abroad Arrive At Airports Every Week Authored by Paul Joseph Watson via Summit News, While Brits remain on lockdown and most domestic flights are cancelled, it has been revealed that 100,000 people are arriving at British airports from abroad every single week. The detail was revealed in […]

  • Zimbabwe Begs For Aid To Avoid “Collapse”

    ZeroHedge - May 6th 2020 4:15am EDT

    Zimbabwe Begs For Aid To Avoid “Collapse” Zimbabwe finds itself in economic dire straits. Again. The South African nation which previously wiped out its debt with a historic round of hyperinflation, is trying a different approach this time and is pleading with international institutions to help it eliminate billions of dollars in debt so the […]

  • Masks In Sweden

    ZeroHedge - May 6th 2020 3:30am EDT

    Masks In Sweden Authored by Daniel Klein via The American Institute for Economic Research, I have been puzzling over attitudes about masks and other facial coverings, particularly in Sweden. Here I use “mask” to mean also a scarf or any other kind of covering over one’s mouth and nose. In early March 2020, at the […]

  • Ferrari Touts “Strong Order Book”, Expects To Outperform In 2H 2020 Despite Auto Industry Implosion

    ZeroHedge - May 6th 2020 2:45am EDT

    Ferrari Touts “Strong Order Book”, Expects To Outperform In 2H 2020 Despite Auto Industry Implosion If there’s one topic we have covered widely since the coronavirus pandemic started, it has been the collapse of the auto industry. Over the last week we have detailed how used car prices will likely cripple what little interest in […]

  • France To Use Existing Surveillance Grid To Enforce Social Distancing, Mask Wearing; Report

    ZeroHedge - May 6th 2020 2:00am EDT

    France To Use Existing Surveillance Grid To Enforce Social Distancing, Mask Wearing; Report Authored by Steve Watson via Summit News, France will use its existing network of surveillance cameras to monitor how many people are wearing masks and track how citizens are complying with social distancing after its coronavirus lockdown is eased next week, according […]

  • Chinese Buyers Flee Hong Kong Real Estate In Major Hit To World’s Priciest Property Market

    ZeroHedge - May 6th 2020 1:00am EDT

    Chinese Buyers Flee Hong Kong Real Estate In Major Hit To World’s Priciest Property Market Mainland Chinese are no fools. They’re shunning commercial real estate deals in Hong Kong as a deep recession unfolds.  According to Bloomberg, citing a new CBRE Group Inc. report, there were no mainland Chinese buyers for property transactions greater than HK$77 […]

  • Escobar: Get Ready For The Next Game-Changer – The Gold-Backed Digital Yuan

    ZeroHedge - May 6th 2020 12:05am EDT

    Escobar: Get Ready For The Next Game-Changer – The Gold-Backed Digital Yuan Authored by Pepe Escobar via The Strategic Culture Foundation, A new, radical paradigm shift is in progress. The U.S. economy may shrink as much as 40% in the first semester of 2020. China, already the world’s largest economy by PPP for a few years now, […]

  • California Liberals Using Corona-Crisis To Transform State

    ZeroHedge - May 5th 2020 11:45pm EDT

    California Liberals Using Corona-Crisis To Transform State California liberals – the majority of lawmkers, have been ‘propelled by the urgency of the coronavirus crisis’ in order to enact various facets of their agenda, according to the New York Times. In addition to letting nearly 10,000 inmates out of overcrowded jails and prisons over the last […]