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  • Oil Producers Will Pay You $54/Barrel To Take South Texas Sour Off Their Hands

    ZeroHedge - Apr 20th 2020 6:35pm EDT

    Oil Producers Will Pay You $54/Barrel To Take South Texas Sour Off Their Hands All day long we have been told, “ignore the price collapse in the May WTI futures contract,” look over here instead at how well stocks have rebounded… Excuses vary from “it’s purely technical” to “a fund or twelve probably blew up, […]

  • Burning Down The House

    ZeroHedge - Apr 20th 2020 6:15pm EDT

    Burning Down The House Authored by Jim Quinn via The Burning Platform blog, Watch out you might get what you’re after Hold tight wait till the party’s over Hold tight We’re in for nasty weather There has got to be a way Burning down the house Talking Heads – Burning Down the House The risk […]

  • NYPD Confiscates Drone Belonging To Freelance Photojournalist Documenting NYC’s Mass Burials

    ZeroHedge - Apr 20th 2020 5:55pm EDT

    NYPD Confiscates Drone Belonging To Freelance Photojournalist Documenting NYC’s Mass Burials By now, many Americans have probably seen the photos of mass graves being dug at New York’s Hart Island, a small island in the Bronx that has for more than a century served as a burial ground for NYC’s unclaimed bodies. Over the past […]

  • Illinois Senate Democrats Seek Massive Federal Bailout for State, Going Far Beyond Coronavirus Impact

    ZeroHedge - Apr 20th 2020 5:35pm EDT

    Illinois Senate Democrats Seek Massive Federal Bailout for State, Going Far Beyond Coronavirus Impact Submitted by Mark Glennon and Ted Dabrowski of Wirepoints Wirepoints has obtained a copy of a letter detailing a federal bailout request sent by Illinois Senate President Don Harmon (D-Chicago) in substantially similar form to all members of the Illinois Congressional […]

  • Small Business Owners Sue Wells Fargo, JPMorgan Over Virus Loan Debacle

    ZeroHedge - Apr 20th 2020 5:15pm EDT

    Small Business Owners Sue Wells Fargo, JPMorgan Over Virus Loan Debacle Several large banks have been sued by small businesses who say large business loans for coronavirus relief were prioritized over small firms, who were then unable to access the much-needed funds. Wells Fargo, Bank of America, JPMorgan Chase US Bankcorp were named in the […]

  • “What If The Lockdown Was A Giant Mistake?”: Ron Paul Rages “They Shouldn’t Be Able To Get Away With This”

    ZeroHedge - Apr 20th 2020 4:55pm EDT

    “What If The Lockdown Was A Giant Mistake?”: Ron Paul Rages “They Shouldn’t Be Able To Get Away With This” Submitted by Ron Paul of the Ron Paul Institute For Peace And Prosperity From California to New Jersey, Americans are protesting in the streets. They are demanding an end to house arrest orders given by […]

  • Watch Live: White House Task Force Holds Monday Briefing

    ZeroHedge - Apr 20th 2020 4:55pm EDT

    Watch Live: White House Task Force Holds Monday Briefing With the chaos in the oil market Monday, we imagine President Trump will have something to say about the state of the economy and the US energy industry during tonight’s task force press briefing. It’s slated to start at 5pmET…but we wouldn’t be surprised to see […]

  • IBM Reports Lowest Revenue This Century; Pulls Guidance But Keeps Dividend

    ZeroHedge - Apr 20th 2020 4:43pm EDT

    IBM Reports Lowest Revenue This Century; Pulls Guidance But Keeps Dividend There was some hope last quarter that IBM was finally turning things around: after all, after 5 consecutive quarters of declining revenues, the company had just managed to grow its top-line for the first time since Q2 2018, and only for the 4th time […]

  • Here Is The Full Explanation Behind Today’s Unprecedented Negative Oil Price

    ZeroHedge - Apr 20th 2020 4:14pm EDT

    Here Is The Full Explanation Behind Today’s Unprecedented Negative Oil Price Courtesy of IHSMarkit’s energy vice president Roger Diwan How did you end up with negative oil prices today?  This happens when a physical futures contract find no buyers close to or at expiry.  Let me explain what that means: A physical contract such as […]

  • The Market Is Breaking… Everywhere

    ZeroHedge - Apr 20th 2020 4:00pm EDT

    The Market Is Breaking… Everywhere Today was historic… …for a number of reasons. 1) Front-month oil traded at an utterly irrational and unprecedented negative $43 intraday (this was not about storage into settlement, this was forced selling into settlement, then notice the bounce, and then later more selling.) 2) Oil’s prompt-spread exploded to a record […]

  • COVID-19 ‘Immunity Passports’ Stoke ‘Grave Concerns’

    ZeroHedge - Apr 20th 2020 3:45pm EDT

    COVID-19 ‘Immunity Passports’ Stoke ‘Grave Concerns’ With the global economy in freefall as worldwide COVID-19 cases surpass 2 million this week, officials in hard-hit countries are suggesting that so-called ‘immunity passports’ may be a path back to economic stability, according to France 24. Photo via The Hustle The way it would work is that those […]

  • “Very Ugly Setup” – As Unemployment Claims Rise, Missed Mortgage Payments Soar

    ZeroHedge - Apr 20th 2020 3:25pm EDT

    “Very Ugly Setup” – As Unemployment Claims Rise, Missed Mortgage Payments Soar Authored by Mike Shedlock via MishTalk, Over 22 million people have filed for unemployment benefits in the past 4 weeks. Many struggle with payments. Black Knight reports More than 2.9 Million in Forbearance, 5.5% of All Mortgages Key Details  As of April 16, more […]

  • Here’s The Next Problem: Where Do 100 Million Oil Barrels Get Delivered… And What Happens Next Month?

    ZeroHedge - Apr 20th 2020 3:08pm EDT

    Here’s The Next Problem: Where Do 100 Million Oil Barrels Get Delivered… And What Happens Next Month? The entire financial world is watching in stunned amazement as the May WTI contract crashed as low as -$40, an unprecedented – until today – event, and one which is sparking frenzied speculation who will be oil’s “Amaranth”, […]

  • Something Impossible Just Happened: A CLO Just Failed Its AAA Overcollateralization Test

    ZeroHedge - Apr 20th 2020 2:21pm EDT

    Something Impossible Just Happened: A CLO Just Failed Its AAA Overcollateralization Test Over the weekend, we reported that in its quest to bailout the richest Americans and the country’s financial system, the Fed unleashed an unprecedented array of actions meant to backstop capital markets, going so far as buying investment grade, high yield bonds and […]

  • Exactly How Many Deaths Are Needed To Justify Giving Government’s Control Of Everything?

    ZeroHedge - Apr 20th 2020 2:06pm EDT

    Exactly How Many Deaths Are Needed To Justify Giving Government’s Control Of Everything? Authored by Jim Fedako via The Mises Institute, The CDC estimates that 61,000 Americans died from the flu during the 2017–18 flu season (with a range of 46,000 to 95,000 deaths). Few of us even remember that event. Stores stayed open, folks […]

  • Facebook Bans Civil Disobedience, Removes Posts Organizing Anti-Lockdown Protests

    ZeroHedge - Apr 20th 2020 1:45pm EDT

    Facebook Bans Civil Disobedience, Removes Posts Organizing Anti-Lockdown Protests Facebook has removed several pages promoting protests against state quarantine orders designed to slow the spread of coronavirus. The social media giant acknowledged removing the posts promoting protests in California, New Jersey and Nebraska which violated measures taken by governors to slow the spread of COVID-19. […]

  • The Extremely-Overvalued & Top-Heavy US Stock Market

    ZeroHedge - Apr 20th 2020 1:25pm EDT

    The Extremely-Overvalued & Top-Heavy US Stock Market Via Global Macro Monitor, Caveat freaking emptor. After the Fed effectively fully nationalized the financial markets by bailing out junk bonds on April 9th, turning Wall Street into a Soviet Sausage Factory,  almost any type of analysis, which was on its way out anyway,  was rendered completely meaningless. The new rocket scientists […]

  • Fauci: No Recovery Possible If Virus Isn’t “Under Control”

    ZeroHedge - Apr 20th 2020 1:05pm EDT

    Fauci: No Recovery Possible If Virus Isn’t “Under Control” President Trump’s top doctor on the White House coronavirus task force has pushed back against protesters demonstrating against stay-at-home orders, warning that the US economy won’t recover until COVID-19 is “under control.” “This is something that is hurting from the standpoint of economics,” Fauci acknowledged during […]

  • Investing In The Age Of COVID…

    ZeroHedge - Apr 20th 2020 12:30pm EDT

    Investing In The Age Of COVID… Via AdventuresInCapitalism.com, Four weeks ago, the stock market was in free-fall and I made the point that “if you aren’t buying stock down here, you’re simply doing it all wrong.” I fortuitously published it on the day that the market bottomed. Looking back at my call to “buy stuff,” the Fed […]

  • United Reports $2.1BN Loss As Airlines Brace To Fire 100,000 Once Bailout Loans Expire

    ZeroHedge - Apr 20th 2020 11:55am EDT

    United Reports $2.1BN Loss As Airlines Brace To Fire 100,000 Once Bailout Loans Expire United Airlines confirmed the carnage hitting US airlines today when it reported a $2.1 billion loss for first quarter as the coronavirus pandemic drove travel demand down to the lowest level in decades. United said revenue plunged 17% in the first […]

  • Harvard And Other ‘Well Endowed’ Colleges Face Backlash For Tapping Tens Of Millions In Stimulus Funds

    ZeroHedge - Apr 20th 2020 11:25am EDT

    Harvard And Other ‘Well Endowed’ Colleges Face Backlash For Tapping Tens Of Millions In Stimulus Funds Several US colleges with multi-billion dollar endowments have been tapping into the massive coronavirus stimulus passed by Congress and signed into law by President Trump in January. As part of the $2 trillion Coronavirus Aid, Relief and Economic Security […]

  • Losing Faith In Fiat – COVID Crisis Has Dragged Forward The Moment When “The Money Is No Good”

    ZeroHedge - Apr 20th 2020 11:12am EDT

    Losing Faith In Fiat – COVID Crisis Has Dragged Forward The Moment When “The Money Is No Good” Via Greg Hunter’s USAWatchdog.com , Money manager and economist Michael Pento says the Federal Reserve has only massive money printing left to try to save the economy from the current and ongoing debt implosion. There is going to […]

  • The Last Time This Happened To Oil, Stocks Collapsed 30%

    ZeroHedge - Apr 20th 2020 10:55am EDT

    The Last Time This Happened To Oil, Stocks Collapsed 30% While the velocity of stock markets’ rebound is making headlines, it’s the energy complex that is screaming at the top of its lungs – something is wrong, very wrong. A total bloodbath in black gold this morning as a combination of fundamental (weaker and weaker […]

  • Watch: Trump Vows To End Obama Admin’s Funding To Wuhan Virus Lab

    ZeroHedge - Apr 20th 2020 10:40am EDT

    Watch: Trump Vows To End Obama Admin’s Funding To Wuhan Virus Lab Authored by Steve Watson via Summit News, President Trump vowed over the weekend to end US funding to the tune of $3.7 million that had been approved to the Wuhan Institute of Virology by the Obama administration. With questions swirling over the lab being […]

  • Fed’s National Activity Index Crashes Into Deep Recession Territory

    ZeroHedge - Apr 20th 2020 10:25am EDT

    Fed’s National Activity Index Crashes Into Deep Recession Territory On the heels of ‘hard’ data crashing (retail sales, industrial production, and employment) and ‘soft’ data seeing all hope evaporating with regional Fed surveys collapsing at record pace, it is not surprising that The Fed’s National Activity Index has also suddenly imploded. Regional Fed Surveys have […]