“Sell The News”? Stocks Are Crashing After 2 Massive Pumps Overnight Despite getting help from Boeing’s gains, The Dow has now crashed over 1000 points twice from the post-“we have a deal” highs… and is back in the red for the day… This all has the stench of some major gamma pukes with VIX flying […]
Mortgage Apps Crash Most Since 2009 While The Fed cut rates to zero and unleashed unprecedented QE and backstops, mortgage rates have spiked in the last two weeks… Source: Bloomberg So much for “helping Main Street.” Amid COVID-19 shutdowns and quarantines and related financial turmoil, general anxiety has taken the shine off a renaissance in […]
Despite QEternity & “Record” Bailout-Bill, The US Dollar Shortage Is Intensifying… Dear Jay Powell, you have a problem… Despite unprecedented actions by The Fed: The FOMC expanded its large scale asset purchase program by promising to purchase ‘in the amounts needed.’ Previously, the FOMC had said it would purchase at least $500bn of Treasury securities […]
Details Of $2 Trillion Coronavirus Stimulus Package Emerge While it will take some time to sort through all the pork contained in the massive $2 trillion coronavirus legislation negotiated between the Trump administration and Congressional leaders early Wednesday, here are some of the major provisions via Bloomberg. The bill – which still needs to be […]
Blain: Is This The Moment To Buy? Blain’s Morning Porridge, submitted by Bill Blain, Hammersmith Palais, the Bolshoi Ballet, being rather silly and Porridge Oats..” This morning I have sniffles, a runny nose, I’m sneezing, and I’ve got a stonking headache. I’m certain it’s not the Wuhan flu – the symptoms started soon after I […]
“No Country Has An Exit Strategy” – Experts Warn Virus Disruptions Could Last Months, Years The duration of the pandemic is different among experts. Michael Levitt, a Nobel laureate and Stanford biophysicist, said earlier this week that the COVID-19 pandemic could be nearing an end as he cited China’s curve flattening to support his hypothesis. Other experts […]
Why QE Is Not Working Authored by Michael Lebowitz and Jack Scott via RealInvestmentAdvice.com, “The process by which money is created is so simple that the mind is repelled.” – JK Galbraith By formally announcing quantitative easing (QE) infinity on March 23, 2020, the Federal Reserve (Fed) is using its entire arsenal of monetary stimulus. Unlimited purchases of Treasury […]
February Durable Goods Orders Jumped Ahead Of Global Coronageddon, Thanks To War-Spending Preliminary data for February durable goods orders showed a surprise improvement (up 1.2% MoM vs expectations of a 0.9% drop) as it appears COVID-19;s impact hadn’t begun to hit quite yet. This resurgence has pushed the YoY growth in headline durable goods orders […]
ABN Amro Abandons 106 Year Physical Gold Business, Clients Forced To Sell Seven years ago – to the day – Dutch megabank ABN Amro changed its precious metals custodian rules to “no longer allow physical delivery.” Have no fear, they reassuringly added, your account will be settled at the bid or offer price in the […]
Futures Slide After Bailout Deal Struck As Schumer Says Buybacks Banned The event everyone was waiting for and knew was just a matter of time, resulting in Tuesday’s biggest one-day rally since 1933 – namely the Congressional taxpayer daylight robbery coronavirus bailout deal which started at $850BN and has since grown to $2 trillion (with […]
Prince Charles, Heir To British Throne, Tests Positive For COVID-19, Deaths In Spain Pass China After Largest Daily Jump: Live Updates The American press and the progressives who make up most of its journalists have so far focused on how the novel coronavirus will inevitably harm the poor and vulnerable. But so far, that’s not […]
White House, Senate Agree On “Largest Rescue Package In American History” We have a deal, folks! It appears on early Wednesday morning, the White House and Republican and Democratic Senate leaders reached a deal to keep the American economy humming during the virus crisis and hopefully avoid depression in the second and third quarters. The […]
COVID-19 Causes Gun Buying-Panic In Hungary Authored by Paul Joseph Watson via Summit News, Fearing the potential breakdown of law and order as a result of the coronavirus, Hungarians are panic buying guns, with one store reporting a five fold increase in sales. “We are selling five times as much as in a normal March,” […]
Watch: Putin Dons Hazmat Suit In Rare Visit To Covid-19 Patients Over the past years international media has been replete with images of Putin on horseback, Putin shirtless, Putin hunting and fishing, and the Russian president even engaged in a taekwondo competition. But here’s one that’s truly new and a scene we would have never imagined, as […]
In Spain You Can’t Use Your Own Back Yard. Police Make Sure of It… Authored by Philipp Bagus via The Mises Institute, The last days and weeks of the coronavirus epidemic give an interesting insight into the human psyche. Elementary liberties are restricted all over the world, such as the freedom of movement or private property. […]
“Very Technical Issue” – ECB Won’t Rule Out Purchases Of ETFs Central banks across the world are deploying every trick in the book to save the broken and bankrupt global economy that was derailed by bat soup. The latest trick, already tried and failed miserably by the Bank of Japan (BOJ), is that the European […]
Czech Republic Says It May Keep Borders Closed For 2 Years Authored by Paul Joseph Watson via Summit News, Officials in the Czech Republic say that the country may need to keep its borders closed for 2 years in order to fight a potential second wave of coronavirus. Czech Crisis Staff head Roman Prymula told […]
“Tinderbox For Spread”: UN Braces For Covid-19 Carnage In Refugee Camps “Around 70 million people are suffering displacement in crowded camps, awaiting the arrival of the coronavirus pandemic,” an alarming report in Foreign Policy begins. It’s been low on governments’ radar considering many are bogged down battling the pandemic in their midst, but the UN High […]
The European Central Bank Is Being Stretched To Its Breaking Point In Italy Authored by Fabrizio Ferrari via The Mises Institute, When Mario Draghi’s tenure was approaching its end, I argued for a sterner governor for the European Central Bank (ECB); hence, I was not even slightly enthusiastic when Draghi’s successor turned out to be Christine Lagarde – a patent […]
EU Shrugs Off US Sanctions, Gives Millions In Coronavirus Aid To Iran The White House has not backed off it’s ‘maximum pressure’ campaign on Iran even as the Islamic Republic’s Covid-19 cases and deaths continue to soar, approaching 25,000 confirmed cases Tuesday. Despite even close US ally Britain quietly signalling it’s had enough of Washington’s ill-timed […]
The Geopolitics Of American Fear Authored by Peter Zeihan via Zeihan.com, Today, I’m not going to go through all the country-by-country details of the ongoing coronavirus pandemic. My team and I are working diligently – franticly – to assimilate a huge amount of ever-changing information. As soon as we have some preliminary conclusions, we will […]
Pompeo Issues ‘5 Facts’ Claiming Iran Exported COVID-19 To “At Least 5 Countries” As even Britain is urging its close US ally to moderate its stance on Iran sanctions as the Mideast country’s death toll surges from the coronvirus pandemic, the Washington-Tehran tit-for-tat exchanges and blame game over Covid-19 continues unabated. Yesterday Pompeo issued a new list of […]
Cop Out: Will Coronavirus Hysteria Open Door To Full-Blown Martial Law In America? Authored by Robert Bridge via The Strategic Culture Foundation, Amid rumors of a national lock-down, and the National Guard already activated in states across the country, rumors are rife that the land of the free will soon be cordoned off behind an […]
$850 Billion In Stock Buying Is About To Be Unleashed Over the weekend we showed something striking: as market crashed, quant and various other systematic funds were unwinding their positions at the fastest rate in history. Starting with CTAs… … which are now very short stocks and long the dollar… … continuing with risk-parity… … […]
LA Mayor To Cut Off Water & Power Of “Irresponsible, Selfish” Stores That Remain Open Earlier, Los Angeles County Sheriff Alex Villanueva ordered all gun stores closed (fearing that too many first-time gun-owners were getting access to weapons), and now LA Mayor Eric Garcetti lashed out at non-essential stores that refuse to close, making an […]
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