by jochexum So, this is all second hand obviously so take it with a grain of salt or ignore it outright if you wish. But i have heard from multiple sources at big banks that they’re blaming lenders like Lendio for R1 PPP funds being exhausted and are asking the SBA to hold them accountable. … Read more
CNBC: New $310 billion in aid for small businesses is likely already used up, banks say. https://www.cnbc.com/2020/04/23/new-310-billion-in-aid-for-small-businesses-is-likely-already-used-up-banks-say.html The more than $300 billion set aside to replenish the emergency loan program for small businesses impacted by the coronavirus pandemic is likely already all spoken for, banking industry groups said. Banks say the volume of applications already sent … Read more
by Sparkyeanon Please listen. I have been reading that some small business owners have not applied for the PPP Loan. They feel guilty about applying because they have savings, or that their business hasn’t been affected yet, or they think the pandemic will not affect them. I ask you all to think on this. Production … Read more
by QuaintSofaChallenge So how do we feel about these numbers? Some of these jobs are gone for good. Demand depressed even on the “re-opening,” leaving most out of work. My impression is that most blue states stay closed for another month, which would keep this rate/unemployment claims up. Ultimately, there are probably two rates. A … Read more
by stream5482 Credit Card processing is very important as it’s a key indicator for consumers spending. Scroll down for Puts/Calls. Parties Involved to make it work ? 1.) Consumer — end user. Credit Card holder. 2.) Merchant — Business establishment accepting payment. These guys pay out all the fees 3.) Card Brand —- Visa, Mastercard, … Read more
by ldrum13 I’m starting to think the reason stocks aren’t going down is that the people who own stocks (or who have money with institutions that invest on their behalf) have not really seen a change in their life. Same for the pundits who are talking about stocks on the news and giving people advice. … Read more
by -Tyrion-Lannister-
Tldr: Economic data is backwards looking, stock prices are forward looking, and economic growth doesn’t directly translate to stock gains because of the rapid increase in the number of companies representing that growth. Here is a good video for some of the newer investors to understand why negative news, such as unemployment #s can move stocks … Read more
This is the best summation I’ve heard as to why we’re doing it all wrong! AC
by GreenBax1985 Never try to catch a falling knife. Stop trying to find the bottom of a falling stock, you exacerbate FOMO this way. Not only will you make mistakes financially, you can also bring about health issues that no amount of money can fix. Let the other guys determine the bottom for you. You … Read more
by SpontaneousDisorder Many talking heads think the worst is over, at least for financial markets, the virus is peaking we’re told (and will presumably just disappear), governments and central banks are apparently flooding the world with “money”. The tone has become decidedly more optimistic than late march, even as the economy hurtles toward the ground. Ben … Read more
This happened JUST TODAY:#Germany's consumer confidence collapsed way beyond anything seen during the GFC. The Eurozone Services #PMI dropped to an unprecedented 11.7. US initial jobless claims rose another 4.43 million, totaling more than 26 million in 5 weeks. pic.twitter.com/0qjVbkyhAD — jeroen blokland (@jsblokland) April 23, 2020 ICYMI overnightIHS Markit Eurozone PMI and GDP Flash … Read more
The Fed’s SPV’s at Treasury are not technically on balance sheet which would violate Federal Reserve Act. Less appreciated as pointed out by @bondstrategist is the fact that aside from commercial paper, NONE have been deployed and put to use. Premature celebration? https://t.co/BwK6aHyR0J — Danielle DiMartino Booth (@DiMartinoBooth) April 23, 2020 Unbelievable. Can I short … Read more
https://www.youtube.com/watch?v=nmAkiFt-wiw
https://twitter.com/bullmarketsco/status/1253272567584079873 When $8 trillion dollars in fiscal stimulus isn't enough, you gotta ask yourself: 1. Is the amount too small?2. Is the amount too big but execution flawed?3. Do we just need to wait a bit longer?https://t.co/vhjIK8PQuM pic.twitter.com/7bvfwsL05S — David Ingles (@DavidInglesTV) April 23, 2020 April loan defaults will likely top the 2009 record, with14 … Read more
by The Phoenix There’s a saying that “in bull markets, stocks don’t sell off on bad news.” I mention this because the latest jobs data is out and it’s horrific. Another 4.4. million Americans have filed for unemployment bringing the total the number of unemployed to 26 million. These are DE-pression type numbers. And yet stocks are … Read more
Tucker Carlson: Governors all over the country are taking advantage of this Pandemic because they want Total Control, not because of Science pic.twitter.com/VqMKjjD3oe — Benny Johnson (@bennyjohnson) April 23, 2020 We found out how quickly our rights are infringed by state and local governments. AC
Ms Panahi told Sky News host Paul Murray the Chinese communist regime “lie like you and I breathe,” evidenced by its “ineptitude and recklessness” in handling the virus. https://www.skynews.com.au/details/_6151034581001
The experience of a small business owner in Washington state is highlighting the unintended consequences of the massive coronavirus relief bill passed to keep employees receiving a paycheck. Jamie Black-Lewis told CNBC that she was able to obtain loans for $177,000 and $43,800, and thought that her 35 spa employees would be happy that they … Read more