On Wire

Breaking news, updates, and reports on current events.

Shorting Uber

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by chancellor-sutler Uber IPO’d 1 year ago for $42 a share raising $8.1bn with an initial market cap of $70bn. Today the stock trades at $34 and has a market cap of $62bn. It is trading at a 72x it’s 2-year forward P/E ratio. The notion that Uber will be profitable in 2022 at $.48 … Read more

Remember the pandemic?! Yeah. Neither do they.

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Remember the pandemic?! Yeah. Neither do they. https://t.co/NgXUWCis3n — IV (@iv_technicals) June 2, 2020 Hundreds of thousands take the streets in France in support of Black Lives Matter. They demand an end to racism, impunity, human rights abuses, and U.S. street executions of civilians. #ICantBreathe #GeorgeFloyd #BlackLivesMatter pic.twitter.com/ExVOsf2gYH — Anonymous (@YourAnonCentral) June 2, 2020 REPORTS … Read more

The Fed is creating the largest asset bubble ever.

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https://twitter.com/NorthmanTrader/status/1267835888781930498 Zombie world pic.twitter.com/yzrAZ5ytTP — Win Smart, CFA (@WinfieldSmart) June 2, 2020 HALF OF SMALL BUSINESSES CAN'T COVER EXPENSES pic.twitter.com/cfuI4yyoIJ — Win Smart, CFA (@WinfieldSmart) June 2, 2020 2020 is a weird and ugly mix of 1918, 1932, 1967, and 1999. — Morgan Housel (@morganhousel) June 2, 2020 https://twitter.com/CapitalPrivate1/status/1267819392173105153 SMDH https://t.co/5wPeAtT5SL — Dow (@mark_dow) June … Read more

Holy cow! The S&P downgrade/upgrade ratio on levered loans hit 43.2! GDP is now projected to fall nearly 53% in the second quarter, according to a Fed gauge

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Holy cow ! The S&P downgrade/upgrade ratio on levered loans hit 43.2 ! That's not a %, btw. That's 43.2 downgrades for 1 upgrade 😱. The peak in the GFC was 8.4. — JohannesBorgen (@jeuasommenulle) June 2, 2020 GDP is now projected to fall nearly 53% in the second quarter, according to a Fed gauge … Read more

Wikipedia removes Black Lives Matter from “list of projects supported by George Soros”.

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by ratioetlogicae Wikipedia deleted Black Lives Matter from page entitled “List of projects supported by George Soros”. Why? https://en.wikipedia.org/wiki/List_of_projects_supported_by_George_Soros   The Washington Times Black Lives Matter cashes in with $100 million from liberal foundations For all its talk of being a street uprising, Black Lives Matter is increasingly awash in cash, raking in pledges of … Read more

YOU CAN’T CALL THEM LOOTERS WHEN THEY LOOT, BECAUSE TRUMP USES THAT WORD AND HE’S THE ENEMY. THAT’S HOW #JOURNALISM WORKS:

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via Twitter: So just because they’re looting, you can’t call them “looters.” You say “some protesters broke into the store and stole whatever was on the shelves.” Weird, you’d think it would be people opposed to the protests who’d want to blur the line between peaceful protesters and violent looters. But then, we’ll have the press defending church-burning … Read more

HOW THE MEDIA CREATES NARRATIVES:

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Here is the Washington Post showing that blacks are shot to death by police more than Hispanics who are shot more than whites who are shot much more often than…. “other”. Other is about 43 million people, which would include about 21 million Asian Americans, who I’m guessing have an even lower rate of being … Read more

Looters Strike Macy’s And Manhattan Stores Before Monday’s Curfew… De Blasio Says He’s ‘proud’ Of Daughter After Arrest

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via abc7ny As the sun set Monday, the looting started once again across Manhattan as protests entered their fifth day in New York City. Police made several arrests, some inside Macy’s flagship store in Herald Square as looters struck. Businesses on 5th and Madison avenues were spotted putting up plywood to prevent looting. However, that didn’t … Read more

INTERNATIONAL TERRORIST ORGANIZATION: Sky News Australia: “Of Course Antifa Is Behind The Violence!”… VICTORIA TAFT: Leftist Rioters Try to Divide Us, but a Poll About George Floyd’s Killer Says It’s Not Working.

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Sky News Australia: “Of Course Antifa Is Behind The Violence!” Leave it to Sky News Australia to point out the obvious truth so many in the American MSM insist on ignoring. Leftist Rioters Try to Divide Us, but a Poll About George Floyd’s Killer Says It’s Not Working. There’s rioting in the streets by extremists, … Read more

Stocks Currently Care About Only One Thing.

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by The Phoenix The market continues to climb a wall of worry. Stocks rose again yesterday despite widespread riots and violence in the US. I think this is ridiculous, but as I keep telling my clients, “it’s not what we think, but what the market thinks that matters.” This is the single most important thing to … Read more