US Energy Secretary Dan Brouillette announces he has been authorized to expand the Strategic Petroleum Reserves to 1 billion barrels.

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#BREAKING: US Energy Secretary Dan Brouillette announces he has been authorized to expand the Strategic Petroleum Reserves to 1 billion barrels. Brouillette to meet with Congress today. Current US oil reserve levels are at 713.5 million barrels.@OANN — Chanel Rion OAN (@ChanelRion) April 21, 2020 1 Billion barrels sounds like a lot, but broken down: … Read more

President Trump says his immigration ban will last 60 days and after will assess any “need for any extension or modification”

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From WSJ The ex­ec­u­tive or­der wouldn’t im­pact im­mi­grants al­ready liv­ing in the U.S. or for­eign­ers com­ing on tem­po­rary visas for work or travel. That cat­e­gory in­cludes H-1B visas, which al­low more than 85,000 high-skilled for­eign­ers to come to the U.S. for at least three years to work. It also in­cludes sea­sonal mi­grant work­ers who come … Read more

False Reading: The Fed’s Equities Light Is “Green” But the Economy Is Crashing

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by Charles Hugh-Smith Sadly, as markets stall and crash, participants will still be in their seats thinking all is well. The tragic 2009 crash of Air France Flight 447 offers an apt analogy for the global economy and central bank-driven false signals. Flight 447 entered an area of frigid turbulence over the Atlantic which caused the air-speed sensors … Read more

$10 Billion more for EIDL Grants

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by 9mmNATO $310 billion total for PPP, with $250 billion unrestricted and $60 billion set aside for smaller institutions $50 billion for EIDL loans and $10 billion for EIDL grants $75 billion for hospitals $25 billion for testing, $11 billion of which will be distributed to states $2.1 billion for Small Business Administration administrative expenses ​ … Read more

Complete List of Publicly Traded Companies Who Accepted PPP Loans with the Amount Awarded Ordered from Largest to Smallest. Via the Wall Street Journal

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by goldenj234 These Are the Public Companies That Got Small Business Loans (WSJ) Ruths Hospitality Group Inc. $20,000,000 J. Alexander’s Holdings. Inc. $15,100,000 Shake Shack Inc. $10,000,000 (Returning the money) Fiesta Restaurant Group Inc. $10,000,000 Quantum Corp. $10,000,000 Potbelly Corp. $10,000,000 Gulf Islanda Fabication, Inc. $10,000,000 Broadwind Energy, Inc. $9,500,000 Zagg Inc. $9,443,728 Air T … Read more

Here comes the Oil bailout:

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We will never let the great U.S. Oil & Gas Industry down. I have instructed the Secretary of Energy and Secretary of the Treasury to formulate a plan which will make funds available so that these very important companies and jobs will be secured long into the future! We will never let the great U.S. … Read more

Credit Markets Turmoil: More Collateral Problems; Automobile Collateral to Impact Ford and GM

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https://finance.yahoo.com/news/gm-ford-face-billions-losses-135232626.html There is nothing the Fed can do about these problems, and as collateral continues to deflate, credit markets will increase their distress. This is the 3rd in a series of Posts that highlight the deterioration of collateral in the credit markets. 1st we had CMBS reporting that delinquencies are sending many loans to special … Read more

Facebook tells you when you are wrong.

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by voodooshrimps I posted this link corona virus Facebook very kindly informed me I was wrong. As of 2019 79% of the us population uses Facebook. This presents a massive influence on the information people view as real or fake. This isn’t news to most of us, but it is upsetting to see this, control the … Read more

After many wins, the Left prepares for the final battle

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by Fabius Maximus Summary:  The Left has been winning since the 1970s. Now their war on us enters the pursuit phase of battle, the last phase. Their success results from a powerful but unmentioned alliance. The next battles will help determine America’s course for the 21st century. Leftists celebrating their generations of victories. By Rawpixel.com – … Read more

SHAME LIST: Here are the largest public companies taking payroll loans meant for small businesses

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Hundreds of millions of dollars of Paycheck Protection Program funds have been claimed by large, publicly traded companies. In fact, the U.S. government has allocated at least $243.4 million of the total $349 billion to publicly traded companies, according to Morgan Stanley. Several of the companies have market values well in excess of $100 million, … Read more

They’ll wreck the currency if they have to

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by Simon Black Nearly seven centuries ago in the mid-1300s, the first major outbreak of the Bubonic Plague forced Europeans into some of the harshest social distancing measures in history. As Boccacio wrote in The Decameron in 1353, the hysteria was so extreme that “brother abandoned brother. . . fathers and mothers refused to see and … Read more

Oil Market Crash Could Lead To Mass Bankruptcies

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By Irina Slav After U.S. crude oil fell into negative territory yesterday, one expert has warned that the oil industry crisis could force many companies to stop operating. U.S. oil companies have different production costs and different debt burdens, and the most vulnerable are those that have borrowed heavily in anticipation of higher prices, former … Read more