Fed Cuts Pace Of Treasury QE By 50% To “Only” $15 Billion Per Day From an initial $75 billion per day when the Fed announced the launch of Unlimited QE, the us central bank reduced its daily buying to $60 billion per day, then two weeks ago announced another ‘taper’ in its bond-buying program to […]
In The Age Of Battling Narratives & Broken Consensus Authored by James Howard Kunstler via Kunstler.com, Flight Path This age of battling narratives tends to conceal the broken consensus behind it. What’s gone is a broad social agreement that there are certain fundamental realities, and then codes of conduct that follow from them. When anything […]
Navy Reports Alarming ‘Stealth Transmission’ Rate: 60% Of Infected Carrier Crew Symptom-Free In an extremely worrisome development signaling the coronavirus peak in the United States could last longer than expected, the US Navy has found that most COVID-19 cases aboard the virus-stricken aircraft carrier Theodore Roosevelt are among sailors who are asymptomatic. “Sweeping testing of the entire crew […]
This Time Might Be Different Authored by Lance Roberts via RealInvestmentAdvice.com, “Don’t fight the Fed.” – Every amateur investor who has never seen a bear market. Over the last decade, investors have been trained to “buy” the markets every time the Federal Reserve was engaging in providing liquidity to the financial markets. As I noted in “Pavlov’s Dogs:” “Classical […]
MSNBC Host Suggests Biden Form “A Shadow Government” To Counter Trump’s COVID Response Authored by Jennie Taer via SaraACarter.com, MSNBC anchor Stephanie Ruhle suggested earlier this week that former Vice President and likely Democratic nominee in the 2020 race Joe Biden form “a shadow government” to counter President Donald Trump’s daily briefing on the White […]
After Deadly Easter, More Tornados Expected For South This Weekend Severe thunderstorms and tornadoes are expected for much of the South on Sunday, including areas that are still recovering from last weekend’s deadly storm. “The highest probability will be on Sunday across many of the same areas that saw severe weather on Easter,” CNN meteorologist Dave Hennen […]
Nasdaq Tumbles Into Red As Markets Realize “There Is No Reopening Plan” Update (1215ET): While Small Caps remain up over 3.5%, Nasdaq has dropped into the red on the day… * * * US equity market have been roaring higher (especially so overnight) as hope trumped reality once again. But bonds were not buying it… […]
“Spectacular Momentum Crash” Imminent As Record Hedge Fund Selling Meets Furious CTAs Buying One of the reasons cited for the explosive move overnight in futures – along with the sketchy STATnews/Feuerstein leak of Gilead’s remdesivir coronavirus trial – is optimism over the upcoming reopening of the US. However, as Nomura’s Charlie McElligott writes this morning, […]
Overcapacity / Oversupply Everywhere: Massive Deflation Dead Ahead Authored by Charles Hugh Smith via OfTwoMinds blog, The price of a great many assets will crash, out of proportion to the decline in demand. Oil is the poster child of the forces driving massive deflation: overcapacity / oversupply and a collapse in demand. Overcapacity / oversupply and […]
Michigan Governor Changes Plan, Says State Will Start Reopening On May 1 Less than one full day has passed since President Trump officially delegated responsibility for reopening their economies to the states, and to our surprise, it appears the first governor to start pushing for a May 1 target to begin reopening is Michigan’s Gretchen […]
Cantor Fitzgerald Slashes Jobs, Prepares To Cut More Amid Economic Downturn Even before the virus pandemic crashed the global economy into recession, if not depression, for the second quarter, the investment bank industry was already on shaky ground. As we’ve noted over the last year, investment banks, such as Barclays, JPMorgan, HSBC, Deutsche Bank, and many others, have been […]
US “Leading” Economic Indicators Crash By Most In Over 60 Years The US Conference Board’s leading economic index crashed 6.7% in March – the biggest monthly drop since the series began in 1959… Source: Bloomberg Under the hood: The biggest positive contributor to the leading index was interest rate spread at 0.03 The biggest negative […]
Michael Cohen Gets Early Prison Release Due To COVID-19 Former Trump attorney Michael Cohen can drop the soap in peace, after the federal Bureau of Prisons ruled that he can spend the remainder of his three-year sentence at home due to concerns over COVID-19 spreading in prisons, his lawyer said Thursday night. The 53-year-old Cohen […]
Irony Defined – Adam Schiff Blasts Grenell For ‘Politicizing The Intelligence Community’ Authored by Sara Carter via SaraACarter.com, House Intelligence Committee Chairman Adam Schiff accused acting Director of National Intelligence Richard Grenell last week of ‘undermining critical intelligence functions’ but nothing could be further from the truth. Why? Because Grenell is restructuring an agency that should have […]
The Market Is Now Just 5 Stocks: S&P Now More Concentrated In Top 5 Names Then Ever Yesterday, when we showed that the Nasdaq had turned green for the year as FANG stocks hit a new all time high… … even as small cap stocks were down 30% in 2020, we showed that the ratio […]
We’re Not Going Back To ‘Normal’… Authored by Michael Muharrey via SchiffGold.com, Turn the key and the economy will restart. That’s a myth a lot of people in the mainstream have peddled since governments started shutting down the economy in response to the coronavirus pandemic. That’s not going to happen. We’re not going back to […]
Twitter Outlaws Political Satire, Civil Disobedience With Fresh Bans Of Conservative Influencers Twitter has taken it upon themselves to remove two prominent voices from the public square, once again. The first victim of Twitter’s ban hammer was Infowars host Owen Shroyer – who was encouraging followers to gather in person at the Texas state Capitol […]
COVID-19 Is A Man-Made Virus: HIV-Discoverer Says “Could Only Have Been Created In A Lab” As the mainstream media and politicians begin to raise/admit the possibilities that the source of COVID-19 was likely a lab in Wuhan (accidentally leaked or otherwise) – something we first brought to the world’s attention in January before being mocked, […]
‘Secret’ National Guard Unit Ready To Enforce ‘Martial Law’ In Washington DC Ever since governors started calling up national guard units last month, the Pentagon has insisted that the soldiers remain firmly under the command of the governors that called them up, and that the Pentagon isn’t using the troops to plan for any federal […]
Story Time 1929-1936 Submitted by Nicholas Colas of DataTrek Research We’ll cover some upbeat earnings reports from GM, Firestone, AT&T and Texaco. The hook: they are from 1929 – 1936. Yes, every company here was profitable in the Great Depression; they cut their workforces until they could earn their dividend (basically the cost of capital […]
Futures Soar On Reopening, Corona Cure Optimism; Ignore Mountains Of Bad News Even though the Gilead “miracle drug” report was refuted by the company itself, which slammed the market-moving Statnews article (sourced reportedly from hedge funds who were seeking to take profit in GILD) as “anecdotal reports with no statistical power”, and even though Trump’s […]
European Car Sales Crash Most On Record In March With lockdowns enforced across much of Europe in March, sheltering at home was on everyone’s agenda, and not purchasing a new vehicle (although one wouldn’t know it by looking at TSLA stock). The latest data from the European Auto Industry Association (ACEA) confirmed this after showing […]
Wuhan Coronavirus Death Toll Revised 50% Higher, Chicago Remdesivir Trial Revives Hopes For ‘Miracle Drug’: Live Updates Shortly after 11pmET Thursday night, a headline came trundling across the wire that caught our eye: Health authorities in Wuhan raised the official death toll from the city’s coronavirus outbreak by 50%, equivalent to 1,290 patients, to a […]
Over Half The World Has Asked IMF For Bailout To Weather “Great Lockdown” Recession The International Monetary Fund revealed this week that half the world’s countries have requested emergency loans to weather the global coronavirus-fueled financial crisis. IMF Managing Director Kristalina Georgieva told a meeting of G20 finance ministers and central bank governors on Wednesday that over […]
CBC Instructs Kids On How To Shut Down Their Parents’ “Conspiracy Theories” Authored by Paul Joseph Watson via Summit News, A CBC News report gives kids advice on how to shut down “conspiracy theories” voiced by their parents about coronavirus being created by China in a lab. Because apparently that’s the media’s job now. The […]
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