This is a market of 5 stocks. The broader market is much weaker than it appears. The Bloomberg consensus for the S&P 500 earnings growth in 2020 suggests the market is extremely expensive

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https://twitter.com/NorthmanTrader/status/1252646856334684160 European banks never bounced, now revisit March lows. Trouble is- difficulty to raise capital at these levels compounded by exposure to energy sector, notably for Natixis, plus billions out to S'pore oil trader fraud posted ystdy. Only one domino cannot fall. So what next? pic.twitter.com/ID2RCDpsR0 — Rich Kleinbauer (@RMKOutFront) April 21, 2020 #SouthKorea's #exports … Read more

USO ETF about to bankrupt itself. Retail investors who believed they were investing in crude oil get a rude awakening

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https://twitter.com/MarixonOng/status/1252581690095988742 https://twitter.com/hks55/status/1252645216340893696 The USO ETF controls nearly a third of the main oil-futures contract, as traders fear it too will fall into negative territory https://t.co/8QHwKgmDoc via @WSJ — M/1_LP (@MI_Investments) April 21, 2020 USO news: All this means is that only USCF has the ability to create new shares of its fund. Authorized participants can … Read more

“The class action lawsuit group in the US has already begun to sue anybody and everybody. They’re already blaming the banks, they’re going to sue nursing homes & hospitals,” Thomas J. Donohue says

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“The class action lawsuit group in the US has already begun to sue anybody and everybody. They're already blaming the banks, they’re going to sue nursing homes & hospitals,” says @ThomasJDonohue CEO @USChamber adding "it’s just not fair." #covid19 pic.twitter.com/yENkCujEUR — Julia Chatterley (@chattwithjulia) April 21, 2020

Economic Free Fall Message Could Be Sent Here!

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by Kimble Charting Is the “Mother of all support tests in play currently?” It humbly looks like it to me friends! This 2-pack looks at the Banking Index and the Thomson Reuters Equal Weight Commodity Index on a quarterly basis over the past few decades. Line (1) has been support and resistance for each over the past twenty to forty years. … Read more

Financial Times op-ed: Bailing out the oil industry brings a fate worse than death. Zombie companies would be created that must be kept afloat with taxpayer dollars

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via ft: Whenever things went wrong growing up, my dad would tell me, “What doesn’t kill you only makes you stronger.” Dying was supposed to be the worst-case scenario. He never mentioned zombies. But that’s what a bailout for the oil industry would create: zombie companies that can’t earn the cost of staying in business, … Read more

Ruth’s Chris Made $468 Million in Revenue but Gobbled Up $20 Million in Small Business Relief. The steakhouse chain has more than 150 locations and $86 million in cash reserves—and it furloughed workers.

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via gq When Congress passed the $2 trillion stimulus to help the country weather the coronavirus outbreak, it created the Paycheck Protection Program (PPP)—a $349 billion fund for small businesses with 500 or fewer employees. If the business uses more than 75 percent of the low-interest loan to keep paying employees, then the entire amount is forgiven. In less … Read more

“People shouldn’t be afraid of their government. Governments should be afraid of their people.” ― Alan Moore, V for Vendetta

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by jdd7690 ”Words offer the means to meaning, and for those who will listen, the enunciation of truth. And the truth is, there is something terribly wrong with this country, isn’t there? ” ”Cruelty and injustice, intolerance and oppression. And where once you had the freedom to object, to think and speak as you saw … Read more

To those who have had to close permanently.

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by Codex432 Don’t ever feel bad about having to look for a new job. You took a risk, which didn’t work out due to extraordinary circumstances, but at least you tried. Some people never take that chance – they sit at their desk, collect their pay and go home. That’s okay, too. It’s just a … Read more

The Fed’s Only Choice – Exacerbate The Wealth Gap, Or Else.

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by Lance Roberts “Gradual inflation has a numbing effect. It impoverishes the lower and middle class, but they don’t notice.” —Andrew Bosomworth, PIMCO Germany, as quoted in Der Spiegel The rise of populism, evidenced by the success of Donald Trump, Bernie Sanders, and Alexandra Ocasio-Cortez, is rooted in the emergence of the greatest wealth and … Read more

What do negative oil prices tell us?

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by Shaun Richards Yesterday brought a new development in the word of negativity. We regularly look at negative interest-rates and bond yields here and a couple of years ago or so noted negative prices for gas in the Permian Basin.More recently we have had to come to terms with negative economic growth rates. But then … Read more

Documents Reveal Feds Are Excited To Create A Mass Surveillance Network

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by Mass Private I A FOIA request by the Electronic Privacy Information Center revealed how excited the National Security Commission on Artificial Intelligence (NSCAI) is about using CCTV cameras to create a national surveillance network. An NSCAI presentation titled “Chinese Tech Landscape Overview” discusses China’s facial recognition CCTV camera network in glowing terms. “When we talk about data … Read more

What reliable websites show charts of the Coronavirus curve?

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https://www.worldometers.info/coronavirus/country/us/ https://coronavirus.1point3acres.com/ https://infection2020.com/ https://www.arcgis.com/apps/opsdashboard/index.html#/bda7594740fd40299423467b48e9ecf6 Below is a summary of trends from today (as of late EST), for the USA, and how it compares to Global. The data is available in more detail here. Global Confirmed Cases growth is 📉: Decreasing to 2.91% Increasing by 70,171 Total confirmed cases is 2,481,287 Deaths growth is 📉: Decreasing to 2.7% Increasing by 4,491 Total deaths is 170,436 … Read more