Economy Goes Down FAST. This Will Only Get Worse as Mass Job Cuts, Unemployment Escalate!

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We are in the middle of the most overvalued market ever. Despite the fact that we have come down significantly from the highest point, on many, many metrics, we are seeing massive overvaluation. It’s very clear that the market sees money printing as a positive note. Most importantly, they realize that the Fed is the only one who can save their investments, retirement accounts, and potentially, their jobs.

 

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https://www.zerohedge.com/s3/files/inline-images/SPX%20valuations%20overvalued.jpg?itok=2Xu9xdug

Nothing Is Certain But Bailouts: How Stimulus Works in a Vacuum

https://finance.yahoo.com/news/nothing-certain-bailouts-stimulus-works-110000255.html

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Moody’s May Cut $22 Billlion of CLO Bonds on Pandemic Losses – Bloomberg

https://www.bloomberg.com/news/articles/2020-04-18/moody-s-may-downgrade-22-billlion-of-clo-bonds-on-covid-risk

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Illinois Seeks a Bailout From Congress for Pensions and Cities – The New York Times

https://www.nytimes.com/2020/04/17/business/dealbook/illinois-pension-coronavirus.html

24 Hour Fitness weighs bankruptcy amid coronavirus pandemic

https://www.cnbc.com/2020/04/18/24-hour-fitness-weighs-bankruptcy-amid-coronavirus-pandemic.html

JPMorgan Chase Stops Accepting HELOC Applications Due to Coronavirus Uncertainty | Nasdaq

https://www.nasdaq.com/articles/jpmorgan-chase-stops-accepting-heloc-applications-due-to-coronavirus-uncertainty-2020-04

Mile-Long Food Bank Car Lines Between Luxury Hotels in Miami

https://www.tmz.com/2020/04/18/one-mile-long-line-of-cars-waiting-food-bank-miami-luxury-hotels/

(3) Sven Henrich on Twitter: “This crisis is following the same script as the last one 12 years ago: The poor get poorer, the middle class shrinks, the big boys get bailed out and the bottom 90% gets settled with all the new record debt. And then central bankers get “Hero” magazine covers.” / Twitter

https://twitter.com/NorthmanTrader/status/1251152108214050816