On Wire

Breaking news, updates, and reports on current events.

Trump rambles about ‘genius’ coronavirus during long-winded briefing: ‘The germ has gotten so brilliant that antibiotics can’t

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The leader of the free world rambled about his “brilliant enemy” during a coronavirus briefing that lasted two hours and sixteen minutes. Allies of the White House had been quoted in the press urging President Donald Trump to keep his remarks short, but that advice has apparently been ignored “They develop drugs, like the antibiotics, … Read more

Man Gets Dragged Off Bus By Police For Not Wearing Mask!

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https://youtu.be/mLGIuS1CPzo After a viral video shows a man being dragged off a bus, SEPTA reverses its coronavirus face mask requirement by Patricia Madej, Updated: April 10, 2020- 5:23 PM SEPTA says it will no longer enforce a short-lived policy requiring riders to wear facial coverings after a widely shared video showing a man being dragged … Read more

CONFIRMED: multiple DC Grand Jury subpoenas have been issued on behalf of US Atty John Durham

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https://twitter.com/greggers4usa/status/1248701382166798342 Even though we all expected it, John Solomon just confirmed, seconds ago on Sean Hannity’s radio show, that multiple DC Grand Jury subpoenas have been issued on behalf of US Atty John Durham.     Dead Eyed Kevin Clinesmith ‘should be’ screwed. He’s the one who literally altered Carter Page’s email chain that was … Read more

Why the market will go down from here

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by yolo2death   For those retards that have been here since 2018, you’ll recall that I called for a V shape rebound in the December China growth scare sell off. I’m usually a big fat bull (see flair), but I have to be realistic given the landscape. The market will have a big pivot this … Read more

Robertson: This Is The Market’s “Last Call” For Investors

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Authored by Lance Roberts via RealInvestmentAdvice.com, The first quarter was one for the record books. The fastest drawdown on record was immediately followed by the steepest recovery since the Great Depression. The wild swings sent investors’ heads spinning and were all the more unsettling because they came with virtually no warning. This turbulence didn’t just come … Read more

The average duration of unemployment

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by spillerelite I don’t know if this actually the right way to look at it, so please feel free to tear this apart, but I keep hearing mention that this is “temporary unemployment” or “artificial” or whatever else since we are being forced to stay inside. And, that as soon as this thing is over, … Read more

U.S. CPI falls at fastest pace in five years

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https://www.kitco.com/news/2020-04-10/U-S-CPI-falls-more-than-expected-in-March.html Even with the Fed printing money we still can’t seem to get inflation. It appears this drop was due to low oil prices and the oil price war. The report noted that the drop in inflation last month was the sharpest since decline since January 2015. For the year inflation is up 1.5%. The … Read more

S&P 500: $SPX 2008 VS 2020 COMPARISON.

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S&P 500: $SPX 2008 VS 2020 COMPARISON. We see a near identical setup now in a three wave bear market as in 2008. Began wave 1 bottoming on a strong daily reversal leading to CTR 1. Then wave 2 bottom with DEEP RED candle stick and BIGGER CTR. Now in wave 3, the FINAL WASHOUT. … Read more

WSJ Editorial Board: Fed “putting Wall St. ahead of companies across middle America.” “Fed is protecting Wall St first.” “Employing political discretion&picking winners & losers.” Thought 2008 bailouts were bad? This looks to be worse. Fed’s outta control

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WSJ Editorial Board: Fed "putting Wall St. ahead of companies across middle America." "Fed is protecting Wall St first." "Employing political discretion&picking winners & losers." Thought 2008 bailouts were bad? This looks to be worse. Fed's outta control https://t.co/z629cqoVQm — fred hickey (@htsfhickey) April 10, 2020 https://twitter.com/QTRResearch/status/1248724251269529600 🤔🤦‍♂️"The Facility will leverage its equity at 7 … Read more

Jim Rickards: Markets and Black Swans

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by Jim Rickards via Daily Reckoning I began studying complexity theory as a consequence of my involvement with Long-Term Capital Management, LTCM, the hedge fund that collapsed in 1998 after derivatives trading strategies went catastrophically wrong. After the collapse and subsequent rescue, I chatted with one of the LTCM partners who ran the firm about what went wrong. … Read more

Continuing to depend on China is a very serious national security threat that is no longer deniable and the US must act immediately.

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ANALYSIS: TRUE. Chinese Control of Supply Chain Is National Security Threat. Rep. Liz Cheney (R., Wyo.) said Chinese control of the pharmaceutical supply chain was a national security threat and that the United States must use its military to confront China around the world. “Look at what they’ve been able to do with respect to supply … Read more

When Even Ezra Klein Is Worried About Overintrusive Government, Your Reopening Plan Needs Work:

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I’ve read the plans to reopen the economy. They’re scary. Right and left, all the plans he’s reviewing basically come from think tanks. I expect that Trump’s plan will be better. But note that it’s all basically up to governors: The White House cannot unilaterally reopen the country. Though the Centers for Disease Control and Prevention … Read more

Either social distancing has worked, or it’s burning out on its own. Sadly, I’m pretty sure it’s the former.

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THE REPORTING IS ALWAYS QUESTIONABLE, BUT IT’S LOOKING AS IF WASHINGTON STATE IS ON THE BACKSIDE OF THE CURVE. Here’s the “confirmed cases” graph: And here’s the chart for deaths, which are usually a lagging indicator. Either social distancing has worked, or it’s burning out on its own. Sadly, I’m pretty sure it’s the former. Why are … Read more

Major Truth Bombs in this CNBC interview. The media conflates stock market performance with economic and (inter)national strength so that those self-styled ‘elites’ can continue to live like bloated parasites.

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The U.S. shouldn’t bail out billionaires and hedge funds during the coronavirus pandemic, Social Capital CEO Chamath Palihapitiya says. “Who cares? Let them get wiped out.” https://t.co/dIbizumtqG pic.twitter.com/fsoP3ITQDa — CNBC (@CNBC) April 10, 2020 Accurately calling out “zombie companies” for the con job they’re pulling on the vast majority of the human race. Those who … Read more