On Wire

Breaking news, updates, and reports on current events.

No matter how cheap the Fed make money, someone has to be willing to buy the artificially inflated asset at even higher prices.

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https://twitter.com/hks55/status/1261904650690838534 Over $550bn of investment-grade bonds will fall to junk status by October https://t.co/QMHHi2qq2l — The Economist (@TheEconomist) May 16, 2020 Hedge funds cut bullish bets on #commodities by 9% in wk to May 12. Most of the selling hit #natgas, #Brent, #corn and #gold while buyers concentrated their efforts in #WTI, #soybeans and #cattle. … Read more

What Could Go Wrong?

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Authored by Chris Hamilton via Econimica blog, In 2019, US population growth fell to +1.55m or +0.5%…this was due to a trifecta of declining births, lower immigration, and higher deaths than anticipated.  However, as with everything “2020”, all three trends are only intensifying to blow away 2019.  Births are falling faster and further, deaths moving … Read more

Massive Explosion at Marijuana Product Wholesaler in Los Angeles, Multiple Buildings Burning

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At Least Ten Injured — 230 Firefighters Responding — Mayday Call Reported A massive explosion at a marijuana product wholesale distributor in downtown Los Angeles has left multiple buildings burning. Over 230 firefighters have responded to the blaze and ten have been injured. The fire department issued a “mayday” call and characterized the incident as … Read more

Markets sent a sign November 2019 when CLO’s started defaulting at 5% and the market reacted in December. The FED answered the market with a rate cut and opened up the repo market and started to buy up CLO’s. The CLO defaults are up to 20%+.

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by shanish82 Check graph on page 53 Sources: https://www.federalreserve.gov/publications/files/financial-stability-report-20200515.pdf Go to pages 50-53. Also https://www.propublica.org/article/whistleblower-wall-street-has-engaged-in-widespread-manipulation-of-mortgage-funds  

House Passes $3 Trillion Democratic Stimulus With No Path to Law

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The House passed a $3 trillion Democratic economic stimulus bill Friday that Republicans and President Donald Trump have already rejected and isn’t likely to trigger bipartisan negotiations any time soon. The measure, passed 208-199, would give cash-strapped states and local governments more than $1 trillion while providing most Americans with a new round of $1,200 … Read more

MSNBC’s Joe Scarborough Has COMPLETELY Lost It! Watch His Childish Meltdown Live on the Air!

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https://www.youtube.com/watch?v=0y92K-lu9p8 Mark Finklestein from NewsBusters reports, Rarely does a day go by without Morning Joe averring some variation on the notion that President Trump is not “well.” But perhaps the time has come for Joe Scarborough himself to take a hard look in the mirror. Read More/Source/Credit/FairUse: https://www.newsbusters.org/blogs/nb/…

Vladimir Putin on Russian state television responds to President Trump’s ‘Super Duper Missile’ comment

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Putin claims that Russia possesses unique types of weapons that no other country has. Kremlin-controlled Russian state media translates Trump’s bragging about his “super-duper missile” as “super-pooper,” compares his rhetoric to that of a “schoolboy raving about computer games.” Putin claims that Russia possesses unique types of weapons that no other country has. Kremlin-controlled Russian … Read more

TRUMP signs EO banning importation of goods made, mined, manufactured using slave labor or child labor!

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EXECUTIVE ORDERS EO on the Establishment of the Forced Labor Enforcement Task Force Under Section 741 of the United States-Mexico-Canada Agreement Implementation Act ECONOMY & JOBS Issued on: May 15, 2020 NEWS By the authority vested in me as President by the Constitution and the laws of the United States of America, including section 301 … Read more

HOW THE WH KNEW: Comey Briefed Clapper on Flynn-Kislyak Call as a Result of Pen Register on Flynn Phone…

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 by sundance First things first: ♦Understand Obama’s Surveillance Operation HERE.  ♦Michael Flynn wasn’t under a FISA (Title-1) HERE …. that’s the background. The riddle of how the White House discovered the telephone call and subsequent content between Michael Flynn and Russian Ambassador Sergey Kislyak appears to have been solved. The FBI used a “Pen Register.”  There was no unmasking, and … Read more

DOJ to Hit Google w/Antitrust Case in the Summer—GOOD!

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Both the Justice Department and a group of state attorneys general are likely to file antitrust lawsuits against Alphabet Inc.’s Google—and are well into planning for litigation, according to people familiar with the matter. The Justice Department is moving toward bringing a case as soon as this summer, some of the people said. At least … Read more