On Wire

Breaking news, updates, and reports on current events.

Lindsey Graham: “AG Barr has three goals I share: *Right wrongs like General Flynn *Hold people accountable who have engaged in misconduct.”

by

Lindsey Graham Verified account @LindseyGrahamSC Attorney General Barr needs to be complimented. He’s doing the right thing. AG Barr has three goals I share: * Restore trust. * Hold people accountable who have engaged in misconduct. *Right wrongs like General Flynn, and I believe eventually, George Papadopolous. Attorney General Barr needs to be complimented. He’s … Read more

The real reason the market is disconnected from the economy and why it will keep going up to ATH.

by

by clmohn First of all, if you say that everything is priced in or it’s forward looking then you are a retard. You are the reason the market keeps rocketing up and we are headed for all time high’s. New retail investors working from home, retired, or collecting unemployment. It’s not fund rebalancing and it’s not … Read more

Uber CTO resigns as company reportedly considers 5,400 job cuts, 20% of workforce; Lyft lays off 17% of workforce, furloughs hundreds more

by

  The Information’s Amir Efrati reported Tuesday that the company was considering further layoffs of up to 5,400 people, citing a person familiar with the matter who said the plan was not yet confirmed. The layoffs could represent up to 20% of Uber’s 27,000-person workforce and save the company up to $1 billion in expenses, … Read more

The Pandemic Is Deepening America’s Many Divides

by

by Charles Hugh-Smith And so we’ve reached the precarious state of disunion in which the only thing the warring elites can agree upon is that the Federal Reserve should rescue their private wealth, regardless of cost or consequences. America’s divides are proliferating and deepening by the day. The key political and economic divides predate the pandemic, … Read more

Every bear market gives bulls one last grand chance to get out. Facebook, Amazon, Microsoft all back to their highs. This is boomers last chance to cash out the retirement.

by

https://twitter.com/hks55/status/1255635406349045761 Our IWM Optimism Index (for small cap stocks) has reached 99, the highest level *EVER* The 2nd highest reading was in Oct 2011, when stocks fell -12.8% over the next month. Less extreme readings also led to pullbacks pic.twitter.com/WF67uR9EsJ — SentimenTrader (@sentimentrader) April 30, 2020 https://twitter.com/yuriymatso/status/1255650478542610433 "The US unemployment rate may have already reached … Read more

Mortgage Forbearance Balloons, Home Sales Plunge

by

In addition to logistical difficulties of selling a home in the era of social distancing, there is the explosion of a historic unemployment crisis. By Wolf Richter for WOLF STREET. By the end of April, there will be 4.2 million mortgages in forbearance, or 7.6% of all mortgages, the American Enterprise Institute estimated in a note, based on … Read more

Deutsche Bank Introduces Negative Interest Rates For Retail Deposits Over 100,000 Euros!

by

(by Half Dollar) If the Fed’s full display of financial repression wasn’t enough for one day, let’s kick-it up a notch with everybody’s favorite soon-to-fail-but-never-does bank, Deutsche Bank. From Handelsblatt (translated by Google): Frankfurt Deutsche Bank will soon introduce negative interest rates for large deposits in its retail banking business and that of its subsidiary Postbank. “The ongoing pressure from … Read more

Venezuela Goes From Bad To Worse To Mad Max: Roving Lawlessness And Gasoline Shortages Now, Mass Starvation Next

by

by J.G. Martinez via The Organic Prepper The Fuel Shortage in Venezuela Will Lead to Starvation Dear readers, those who already know me are aware I used to write about confirmed facts we all care about as preppers. At this point in my life I hardly can be considered a prepper, though. A survivor? Sure. I’ve been in … Read more

The Bubbles are Bursting Everywhere with Gordon T. Long

by

from Financial Survival Network “There are decades where nothing happens and there are weeks when decades happen.” – Vladimir Lennin. Everything Gordon T. Long and I have been talking about has come to fruition. The size and magnitude of the problem has been grossly understated. Oil companies, state and local government debt. Globally it’s even worse. 50-60 percent of … Read more