On Wire

Breaking news, updates, and reports on current events.

Many New York and New Jersey residents are losing hope, and are out of cash.

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NEW YORK (CBSNewYork) – Unemployment remains a major issue across the country. Many New York and New Jersey residents are losing hope, and are out of cash. Adam D’Aleo has listened to the New York Department of Labor’s “we are experiencing high call volume” recording more times than he can count. “It’s embarrassing, I remember it,” D’Aleo said. … Read more

I’m terrified that we are going to reopen our economy too quickly at the expense of human lives.

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by Luma44 I’m a father, a husband, a taxpayer, a full time employee. I’m working hard to provide for my family. I’ve never accepted a handout. I’ve fortunate enough to say that I’ve never needed unemployment. I’ve never filed an insurance claim. If I need more money, I’ve been lucky enough to have opportunities to … Read more

Traders Are Betting Big On An Oil Price Rebound

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By Irina Slav Global oil storage space is running low, production is not falling quickly enough, and yet last week hedge funds bought a record amount of WTI contracts, Reuters’ John Kemp said Monday. At the equivalent of 122 million barrels, the amount of crude futures purchased last week was the highest since at least … Read more

The old saw that dividend stocks are good for bear markets is actually a high-risk gamble.

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By Wolf Richter for WOLF STREET. Dividend yield can be an irresistible siren song in the era of central-bank interest-rate and bond-yield repression: Harley Davidson’s dividend yield was over 7% until this morning – when it announced that it would slash its dividend by 95%, from 38 cents to a symbolic 2 cents to conserve cash. Going forward, … Read more

With Superfluous Demand in Free-Fall, What’s the Upside of Re-Opening a Small Business?

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by Charles Hugh-Smith Since superfluous demand was the core driver of most consumer spending, and that demand is in free-fall, what’s the upside of re-opening? The mainstream view assumes everyone will be gripped by an absolutely rabid desire to return to their pre-pandemic frenzy of borrowing and spending and consuming, the more the better. While the urge to … Read more

Carnival Cruise Chest CT Findings: Of 104 cases, 76 (73%) were asymptomatic, 41 (54%) of which had lung opacities on CT

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This is pretty wild. They took scans of 104 patients from the cruise ship and of 104, 76 (73%) showed no symptoms including difficulty breathing yet ground-glass opacities were found in 54% of them. That means that the disease was eating at their lungs even without any symptoms. Remember that Harvard study which showed up … Read more

The market rate for virus supplies 3 months ago…

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by TeRiYaki32 I’ve heard from friends at two different companies in the past week that are getting pandemic supplies for their staff. There are large, national business supply companies out there who have started reaching out to other businesses, offering to be their supplier for pandemic items like gloves, masks, sanitizer, etc., in addition to … Read more

The US Navy guided missile destroyer USS Barry conducted a “freedom of navigation” operation in the South China Sea Tuesday

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The US Navy guided missile destroyer USS Barry conducted a “freedom of navigation” operation in the South China Sea Tuesday aimed in part at challenging China’s claims on the Paracel Islands https://twitter.com/rabrowne75/status/1255197690792730624   .@USPacificFleet: “By conducting this operation, the United States demonstrated that these waters are beyond what China can lawfully claim as its territorial … Read more

Chinese internet users who uploaded coronavirus memories to GitHub have been arrested. Project Terminus2049

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A group of volunteers in China who worked to prevent digital records of the coronavirus outbreak from being scrubbed by censors are now targets of a crackdown. Cai Wei, a Beijing-based man who participated in one such project on GitHub, the software development website, was arrested together with his girlfriend by Beijing police on April … Read more

MISSING: 96%!

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Hard to believe, but look it up on Congress website for HR 748 from 116th Congress. American population: 330,483,530 Stimulus bill: $2,000,000,000,000 Dividing the cost by every person in America is $6,051.74 The government could have given every person over $6,000, but instead will give $1,200 to each adult under a certain income. Wanna know … Read more

Worldwide 1930s Style Depression Has Begun!

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by Michael Markowski SCPA (statistical crash probability analyses) forecast:  100% probability the first worldwide economic depression has begun!  This bold statement is based on statistical crash probability analyses of two new research findings noted below: The alarming discovery of nine additional countries whose markets commenced simultaneous crashes on 2/20/20 is now known.   These crashes of … Read more