On Wire

Breaking news, updates, and reports on current events.

VIX is rising and the Fed is withdrawing liquidity…. JPMorgan: We are dialing down our positive outlook on stocks…Credit Suisse: The Fed has created the illusion of years of forward earnings in 2 months with QE

by

by charvo Liquidity withdraw. Lowest weekly Fed stimulus since the market top. Not only that: Public debt increased ~4x the Fed’s $60B in the last 7 days! Largest net decline in Fed assets vs. government debt since the repo crisis started. Debt overhang sucking all new liquidity. pic.twitter.com/lcFjk2PuX5 — Otavio (Tavi) Costa (@TaviCosta) May 29, … Read more

This is just what Americans needed to see on Friday morning to help calm their nerves…

by

CNN Crew Arrested While Covering Minneapolis Riots Millions of Americans feel like the country is drifting precariously close to the point where social cohesion unravels. What’s the Minneapolis PD’s solution? Arrest a team of journalists live on air… The same police department that hired the officer who cruelly and arbitrarily murdered George Floyd has responded to … Read more

Social Media’s Plantation of the Mind

by

by Charles Hugh-Smith The Company Store is open, buy whatever you want on easy credit, and don’t forget to take an approved narrative with you. I’ve been discussing the neocolonial-plantation structure of the U.S. economy since 2008, and now this model has reached perfection in social media’s Plantation of the Mind. Once you’re firmly enmeshed in … Read more

There Will Be A Lot More Rioting, Looting And Civil Unrest As The U.S. Economy Continues To Crumble

by

by Michael Snyder What we have been witnessing on the streets of Minneapolis is just the beginning.  Our nation is so deeply divided, and a large portion of the population is losing faith in the basic institutions that govern our society.  Personally, I don’t know how anyone can watch the video of what happened to … Read more

The Housing Market Faces Ferocious Headwinds

by

By Wolf Richter for WOLF STREET. Pending sales of existing homes of all types in April – contracts on houses, condos, etc., that were signed in April but that haven’t closed yet – collapsed by 33.8% from April last year, after having plunged 16.3% year-over-year in March, with the index plunging to 69, according to the National Association of … Read more

The Oil Storage Crisis Is Far From Over

by

By Alex Kimani It’s more than a month since the oil markets sunk to a nadir in the mother-of-all market routs. Since then, oil prices have staged an impressive recovery, especially from WTI’s negative trade zone visited on April 20. There’s real optimism in the air with the formidable headwinds of a massive supply glut … Read more

The Cheerleaders of War

by

by Martin Armstrong China Proposes A Law Allowing Citizens To Sue US For Starting Coronavirus Pandemic which is entirely understandable after the US Congress proposed Americans can sue China in US courts for the same reason. So lawsuits will be filed, each country will decide against the other, and the people will be entitled to confiscate each … Read more

How Long Until Hydrogen Is Competitive At The Pump?

by

By Jon LeSage Hydrogen might have a way to break through one of the barriers that keeps it from reaching mass-scale adoption for fuel cell electric cars and trucks. French fuel company Air Liquide just released a new product in the US that can make hydrogen competitive with the average gasoline and diesel fuel station. Its high capacity of … Read more

RUSH: Facebook fact-checks too. Facebook even has a page that explains how their fact-check system works, and Facebook exiles people they don’t like.

by

via rushlimbaugh RUSH: Mark Zuckerberg of Facebook was on Fox yesterday afternoon. He was on the Dana Perino show, and he said that he disagreed with Twitter fact-checking President Trump. He said, “We have a different policy, I think, than Twitter on this. So I just believe strongly Facebook should not be the arbiter of truth … Read more

Liquidity is the excuse not to understand anything.

by

https://twitter.com/Techs_Global/status/1266048279315451905 BLACKROCK'S LARRY FINK SAYS MARKETS ARE ASSUMING A LOT OF GOOD NEWS AT THIS MOMENT — *Walter Bloomberg (@DeItaone) May 27, 2020 https://twitter.com/MacroTechnicals/status/1266049478076874753 #recession … US #Corporate #Earnings edition https://t.co/msy2bFPLoL — Invariant Perspective (@InvariantPersp1) May 28, 2020 Investors’ appetite for junk bonds is growing as retail funds are expected to add about $6 billion … Read more

Is Hong Kong really over as a financial centre?

by

by Shaun Richards Today I thought I would take a slightly different tack and look at a potential shift in world financial markets. It concerns a place that for many years has had an economic party based on “location, location, location” as Hong Kong has been a sort of add-on to China. We have previously … Read more

Russia Ready To Boost Production As Soon As OPEC+ Deal Ends

by

By Tsvetana Paraskova Russia’s government approved on Tuesday a plan to have new oil wells drilled this year and next for 2022 production, the office of First Deputy Prime Minister Andrey Belousov said in a statement. A Russian government commission backs the proposals of the energy and finance ministries to create a ‘fund of uncompleted wells’ with … Read more