Reopening Isn’t About Class Warfare

by Patrick Watson In theory, outside threats should make people set aside differences. The novel coronavirus seems to be doing the opposite. That may be because two influential groups—politicians and the news media—actually need conflict. If none exists, they create it. The …

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“This is still the most bearish bear market that we have seen so early in a global recession. It’s too early to call the all-clear.”

https://twitter.com/TenYearNote/status/1262888028533477376 https://twitter.com/ThinkTankCharts/status/1262828860233695233 In Georgia, where restaurants have been open for three weeks, bookings are still down by 84% https://t.co/fqlY1AT9Xr — The Economist (@TheEconomist) May 20, 2020 The retail sales report in the US suggests a disastrous fall in personal consumption …

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Buying markets at a forward P/E of 23 because a central committee self-admittedly has flooded the system with money it has digitally created is not investing. It’s stupefied herd behavior. And no, it doesn’t build immunity.

https://twitter.com/NorthmanTrader/status/1262688423896375299 Price/Earnings to Growth (PEG) ratio is Price to Earnings (P/E) divided by the expected earnings growth rate. This particular example shows a 5-year earnings growth expectations. The ratio's value is the highest for at least 25 years How this …

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Worst global, economic crisis in 90 years?

Worst global, economic crisis in 90 years. https://t.co/GdcCDJZU3U — Carl Quintanilla (@carlquintanilla) May 18, 2020 https://t.co/XMhjk6yL8J — Alastair (@StockBoardAsset) May 18, 2020 "The proponents of 'Modern Monetary Theory' are wrong in suggesting that a government that issues debt in its …

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Dow closes up more than 900 points. On the same day the Atlanta Fed estimates Q2 real GDP at -42.8%. Meanwhile, 100,000+ small businesses have closed forever.

On the same day the Atlanta Fed estimates Q2 real GDP at -42.8%. Meanwhile, 100,000+ small businesses have closed forever. Totally normal. https://t.co/cCm7EkMRgH — Nomi Prins (@nomiprins) May 18, 2020 https://twitter.com/vixsquared/status/1262454006326210561 "It's different this time""It's different this time""It's different this …

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ShadowStats Alternate Unemployment for April 2020 is, 39.6% net of BLS errors

The seasonally-adjusted SGS Alternate Unemployment Rate reflects current unemployment reporting methodology adjusted for SGS-estimated long-term discouraged workers, who were defined out of official existence in 1994. That estimate is added to the BLS estimate of U-6 unemployment, which includes short-term discouraged …

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