On Wire

Breaking news, updates, and reports on current events.

Mnuchin Pulls It Off? ‘Economic Impact Payments’ (Free Govt Money) Hit Bank Accounts Today!

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(by Half Dollar) Stevie did say “you’ll get your money in two weeks”. And he said that on April 2nd: And it seems he’s following through with the Free Lunches! From the IRS: #IRS deposited the first Economic Impact Payments into taxpayers’ bank accounts today. We know many people are anxious to get their payments; we’ll continue … Read more

Wow – Supreme Court Will Hold Hearings Via Teleconference and Broadcast Live Audio of Consolidated Trump Financial Cases…

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by sundance The resistance appears to be coming together.  In a stunning and historic change of protocol the United States Supreme Court will hold teleconference hearings and will actually live-stream broadcast the oral arguments and questions. Two elements are remarkable. First, that the Supreme Court would permit a livestream broadcast of any hearing is historic. The … Read more

Fear of an Impending Car-Price Collapse Grips Auto Industry

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https://finance.yahoo.com/news/fear-impending-car-price-collapse-110000556.html Sort of a no-brainer here The ripple effects that the shutdowns have for every single day they go on and the general societal changes will be a disaster for many, many industries for quite some time. I’ve been saying for some time that a multi-year global Great Depression is a likely outcome from all … Read more

Mark Cuban: ‘Banks are playing’ games on loans, leaving small businesses ‘out in the cold’

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Midcaps should be hurting for a while. Billionaire entrepreneur and “Shark Tank” investor Mark Cuban said Monday that the recently launched small business loan program has been beset by challenges. “Banks are playing themselves. They’re being banks and they’re trying to determine if the credits are good,” Cuban said on “Squawk Box.” “Until we get through … Read more

DB: Google mobility data shows changes in visits compared to baseline. Since Jan, some countries have seen 80-90% decline in mobility for restaurants, cafes, shopping centers, theme parks, museums, libraries & movie theaters. For the US, decline was 50%. We are NOT locked down.

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DB: Google mobility data shows changes in visits compared to baseline. Since Jan, some countries have seen 80-90% decline in mobility for restaurants, cafes, shopping centers, theme parks, museums, libraries & movie theaters. For the US, decline was 50%. We are NOT locked down. pic.twitter.com/bmZvofkqqO — Danielle DiMartino Booth (@DiMartinoBooth) April 13, 2020

Monetary/fiscal stimulus aren’t nearly enough to quell the losses in asset prices and the shortage of dollars worldwide. It’s the beginning of a recession, not the end.

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Further action needed. Monetary/fiscal stimulus aren’t nearly enough to quell the losses in asset prices and the shortage of dollars worldwide. It’s the beginning of a recession, not the end. The S&P 500-to-Gold ratio is still above 1929 peak levels. Buy gold & sell stocks. pic.twitter.com/Iu6CsebV3c — Otavio (Tavi) Costa (@TaviCosta) April 13, 2020 I … Read more

A short timeline of Goldman’s bullsh*t

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by Chocolate_fly The S&P 500 sees 18% growth over the previous 12 months; one of the best years on record December 31 2019: Goldman declares US economy is recession-proof   The S&P500 hits 2700; officially a bear market March 11 2020: Goldman predicts bottom at 2,450 by mid-2020   The S&P500 hits 2380; blows out Goldman’s previous … Read more

I am glad that laid off workers are getting the extra $600/week on top of base benefits, but it is an abomination that many of us still working full time will be earning less than that.

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by zedthehead I manage a Subway. I make $10.25/hr. I have been there nearly every day since all this started. I have stressed myself out, crying, daily. I am NOT ESSENTIAL yet I cannot quit. I must wait for my greedy franchisee to decide he will close our store before I can file for unemployment. … Read more

Just read the CARE Act. It appears the $1200 stimulus check is a credit against your 2020 tax return

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or am I reading it incorrectly? What do you think? 21 ‘‘SEC. 6428. 2020 RECOVERY REBATES FOR INDIVIDUALS. 22 ‘‘(a) IN GENERAL.—In the case of an eligible indi-22 vidual, there shall be allowed as a credit against the tax 23 imposed by subtitle A for the first taxable year beginning 24 in 2020 an amount equal to … Read more

El-Erian: ‘We are really betting on the Fed if you want to go in and buy and put risk on in a major way’

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CNBC, Released on 4/13/20 Mohamed El-Erian, Allianz chief economic advisor, joins ‘Squawk Box’ to discuss the state of the U.S. economy and how investors are watching the stock market. Mohamed El-Erian is the Chief Economic Adviser of Allianz, a multinational financial services company. He is the former CEO and co-Chief Investment Officer of PIMCO, a … Read more

Hackers hijack Zoom meeting on Milwaukee absentee ballots

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MILWAUKEE, Wis. (WISN) — Hackers hijacked a Zoom conference call Sunday afternoon held by the Milwaukee Board of Election Commissioners. The call was scheduled to provide an update on guidelines related to last week’s primary election. The commission planned to discuss late-arriving absentee ballots. The hackers took control of the meeting and posted pornography and … Read more