Re-Opening the Economy Won’t Fix What’s Broken

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by Charles Hugh-Smith Re-opening a fragile, brittle, bankrupt, hopelessly perverse and corrupt “normal” won’t fix what’s broken. The stock market is in a frenzy of euphoria at the re-opening of the economy. Too bad the re-opening won’t fix what’s broken. As I’ve been noting recently, the real problem is the systemic fragility of the U.S. economy, … Read more

Despite Record-Low Mortgage Rates, New House Prices Drop to Lowest April since 2015, Sales to Lowest April since 2017

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More than plenty of supply: 6.3 Months’ unsold inventory of speculative houses. By Wolf Richter for WOLF STREET. Sales of new single-family houses in April dropped 6.2% from a year ago, after having dropped 11.6% in March, to a seasonally adjusted annual rate of 623,000 houses, down nearly 20% from the peak in January: This decline in sales … Read more

RUSH: Trump’s just dosing out some medicine. “Okay, Joe, how does it feel?”

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via rushlimbaugh RUSH: Everybody’s jumping all over Trump. I got a headline here on Drudge: “Twitter Apologizes for Trump Tweets.” This is about Trump tweeting that Scarborough murdered somebody, and a lot of people say, “What is Trump doing? Why is he punching down? Why is he wasting time on Scarborough?” I have no idea, folks, … Read more

Chinese oil firm MIE defaults on US$248 million bond after value of its assets fall sharply

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The crash in international crude prices has not only burnt small Chinese investors who bought wealth management products from one of China’s largest banks but also a listed oil and gas firm that announced last week that it would default on a US$248 million bond. https://www.scmp.com/economy/china-economy/article/3084773/chinese-oil-firm-mie-defaults-us248-million-bond-after-value

Trump (Who Says He Doesn’t Watch The Stock Market) Pumps The Dow And S&P Today While Proclaiming “Transition to Greatness has started”

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(by Half Dollar) You may not know this, but Trump actually said he doesn’t watch the stock market: And if we disregard the thousands upon thousands of times he’s talked or Tweeted about the stock market, then I guess that’s true. Regardless, I guess I’ve gotta make some people mad again, because while I’d rather not write … Read more

Dr. Fauci has finally admitted — this happened back on Friday — that the lockdown might do “irreparable damage,” something I opined on, something I told you two weeks into this.

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via rushlimbaugh RUSH: Dr. Fauci… Dr. Fauci has finally admitted — this happened back on Friday — that the lockdown might do “irreparable damage,” something I opined on, something I told you two weeks into this. Dr. Fauci, up until last Friday, was dead set against any opening. Now, what happened? What made Dr. Fauci…? I … Read more

Reporter: “Isn’t the guidance to wear a mask when you’re outside though, not when you’re necessarily in your home?” Press Sec. Kayleigh McEnany: “The guidance is it’s recommended but not required.”

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Reporter: "Isn't the guidance to wear a mask when you're outside though, not when you're necessarily in your home?" Press Sec. Kayleigh McEnany: "The guidance is it's recommended but not required." pic.twitter.com/fJGZmxmj3c — The Hill (@thehill) May 26, 2020

YOU KNOW WHO OWNS YOU BY WHAT YOU’RE NOT ALLOWED TO SAY:

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YouTube Censorship and That Which May Not Be Said About Chinese Propaganda. Just for future reference, the magic words are 五毛党 or just 五毛. They mean “paid commenter”. UPDATE: (Charlie) YouTube got back to me. A spokesperson said: “This appears to be an error in our enforcement systems and we are investigating. Users can report suspected … Read more