On Wire

Breaking news, updates, and reports on current events.

OPEC is creating bigger opportunities for North American shale producers.

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OPEC REPORT: Venezuela reports collapse in oil supply, tightening global market. “In a monthly report, the Organization of the Petroleum Exporting Countries said Venezuela told the group that it pumped 960,000 barrels per day (bpd) in March, a drop of almost 500,000 bpd from February.” This Reuters story describes Venezuela’s production collapse as an “involuntary curb,” which … Read more

How Big or Tiny of an Apartment Can the Median Household Income Afford to Rent in the 100 Largest US Cities?

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Wolf Richter wolfstreet.com, http://www.amazon.com/author/wolfrichter In some cities, you get what is considered a walk-in closet of a McMansion. It’s not totally fair to compare rents in Tulsa with rents in San Francisco because household incomes are different as well. One way to look at this is to figure out how big of an apartment a … Read more

Americans Are Tapped Out as Debt MAXED OUT as Delinquencies and Layoffs Rise!

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Panic sets in when delinquencies rise too high. Just like in 2007 with subprime, it doesn’t take an extremely high percentage either. Just enough to break the derivatives. Look at how many people simply look at the percentage (which is still reasonably high) and suggest it’s not a problem. They don’t understand what derivatives are. … Read more

Oil Rallies Despite Large Crude Build

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By Irina Slav Crude oil prices brushed off the Energy Information Administration inventory report today, which saw a 7-million-barrel build in crude oil inventories for the week to April 5. The authority also reported a reduction in gasoline inventories a day after the American Petroleum Institute estimated those had declined by 7.1 million barrels. The EIA confirmed a … Read more

The Fed’s Body Count

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by Michael Lebowitz “The problem with the war (Vietnam), as it often is, are the metrics. It is a situation where if you can’t count what’s important, you make what you can count important. So, in this particular case what you could count was dead enemy bodies.” – James Willbanks, Army Advisor, General of the … Read more

The 45th President Of The United States Just Said: “What They Did Was Treason. This Was An Attempted Coup.”

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Those who started Russia probe were attempting a ‘coup’, AG must start investigation – Trump President Donald Trump has called the FBI’s investigation into alleged ‘Russian collusion’ a “coup” attempt, and said he wants Attorney General William Barr to investigate the probe’s origins. “It was an illegal investigation, it was started illegally, everything about it … Read more

USA’s version of communist china’s social credit is here, it’s called the secret SIFT “trustworthiness SCORE (1-100)

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We’re All Being Judged By A Secret “Trustworthiness” Score Nearly everything we buy, how we buy, and where we’re buying from is secretly fed into AI-powered verification services that help companies guard against credit-card and other forms of fraud, according to the Wall Street Journal. More than 16,000 signals are analyzed by a service called Sift, which … Read more

HUGE gas explosion in Durham NC! At least 2 buildings have collapsed! 1 DEAD 15 INJURED

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Multiple buildings collapsed. Live: https://abc11.com/live-video-building-collapse-fire-burning-in-downtown-durham/5241686/ UPDATE: it appears they say that a contractor hit a gas line causing the explosion. UPDATE 2: reports are that 1 person has died and 15 have been injured . One of the injured is a firefighter.     h/t I’m with Trump.

Run On Aramco Bonds Could Sideline IPO

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By Charles Kennedy The Saudi plan to use their state-run oil giant, Aramco, as a piggy bank panned out fabulously for the Kingdom on Tuesday, with international investor demand topping $100 billion in Aramco’s first-ever foray into international debt markets. According to various media citing sources close to the transaction, based on demand–which can sometimes be inflated … Read more

America’s Debt Crisis: Consumer Credit Card Debt Continues To Rise

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This article was written by Mac Slavo and originally published at SHTFplan.com American consumers continue to spend money they don’t have by borrowing it.  As the problems in the economy compound, the rising levels of consumer credit card debt could make any economic downturn all but impossible for so many to come out unscathed. Americans with … Read more

The Dollar Will Crash: Printing More Dollars Will Not Save The US Economy

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by Josh Sigurdson of World Alternative Media Josh Sigurdson talks with WAM contributor Tim Picciott about the latest comments from Donald Trump regarding the Federal Reserve. As we’ve reported recently, Trump alongside adviser Larry Kudlow wants to see Jerome Powell and the Fed “lower rates.” Of course their view is that the economy is not centralized to their … Read more

New York City just went from Dumb to Dumber…

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by Simon Black A few months ago, I wrote to you about how New York City wants to tax people who own second homes there. They call it a pied-a-terre tax, and the geniuses behind it believe that it will help plug the city’s $1 billion budget shortfall. Bill de Blasio himself, the mayor of New York City, has … Read more

The Fed Created an Economy of Zombies and Unicorns

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By John Mauldin Central bankers have a well-worn playbook for handling recessions. Cut interest rates, increase liquidity, and otherwise shove capital into the private sector. This helps businesses hire more workers and raise wages. Then gradually remove all the stimulus as growth recovers. This playbook truly fell apart in 2008. The system had so much debt … Read more

Preferred v Ordinary Shares

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by Martin Armstrong QUESTION: Hi Martin, What are your thoughts on preferred shares? Especially the ones with good quality DBRS ratings. Will the survive the downturn or will they fail? Thx FS ANSWER: Ordinary and preference shares are a claim on corporate earnings and assets. Dividends for ordinary shares may be irregular and indefinite, whereas preference shareholders … Read more