by Charles Hugh-Smith We can anticipate a federal bailout of pension funds and one-time aid to state and local governments, but bailouts won’t repair the eroding foundations of tax revenues. As we all know, the federal government can “print” money but state, county and city governments cannot. The Treasury can sell bonds to fund deficit spending, … Read more
Now even the fig leaf is gone. By Karen Parker Feld, The Irreverent Economist at Paladin Advisors: On March 23, the Fed announced its largest-ever intervention in the financial markets. Bazooka is too timid a word to describe it. More like a neutron bomb. Our central bank, supposed defender of the currency and the stability of markets, can now … Read more
by Michael Snyder It appears that we are heading into the worst economic downturn of the post-World War II era, and that is going to be true no matter how this coronavirus pandemic ultimately plays out. There are some that believe that this virus will only kill thousands, and there are others that are warning … Read more
by MW [Sebastian] Kurz said, that he is aware, that a lot of people would have loved to hear, that the measures will be lifted, but in reality, ‘it is a marathon’ (“dass viele Menschen hören wollten, dass die Maßnahmen gelockert würden. ‘Aber die Wahrheit ist, es ist ein Marathon’”) From wednesday on, it will … Read more
by DCG As you know, the World Health Organization (WHO) is an agency of the useless United Nations. Completely useless, both of them in my opinion. China has LIED to WHO and they, in turn, have LIED to the world: I’ve seen many theories online as to how China controls WHO. See an example on … Read more
Why can’t we just do what the South Koreans did, without all the drama, hysterics, lies and other assorted bullshit? Coronavirus: South Korea has more recovered patients than sick WORLD NEWS MARCH 28, 2020 / 9:59 AM March 28 (UPI) — South Korean health officials said Saturday that for the first time since the country’s … Read more
By Irina Slav As soon as U.S. shale leaves the market, prices will rebound and could reach $60 a barrel, Rosneft’s Igor Sechin said recently. As fate would have it, in what many would have until recently considered an impossible scenario, a lot of U.S. shale might do just that. Breakeven prices for U.S. shale basins … Read more
Religious congregations are warned that failing to heed his orders could result in their buildings being permanently shuttered: THE LEFTISTS ARE not letting an opportunity go to waste. They’re trying to see what we will tolerate. Pushing the borders of gov’t authority. h/t Mark
Politico says there’s “scant evidence,” but that’s ignoring multiple French studies. It’s journalistic malpractice — which is to say, journalism as usual in the age of Trump — to pretend that there’s “scant evidence.” Politico’s Dan Diamond doesn’t even mention the French studies. Related: Italy and France are now prescribing hydroxychloroquine and chloroquine as treatments for coronavirus patients. Politico’s … Read more
The Washington Post’s Gleeful Hot Take on the Crashing Economy Gets the Thrashing It Deserves. Related: h/t GR