Here We Go Again: When Bubbles Pop, Only the First Sellers Avoid Destruction

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by Charles Hugh-Smith Bubbles always burst, and the confidence that “this isn’t a bubble” and “the Fed has our back” are counter-indicators. Here we go again: stocks have once again reached nosebleed valuations completely disconnected from reality–in other words a repeat of the speculative-frenzy bubble that reached its peak on February 19. Once again, stocks are … Read more

Munger: “Nobody Knows What’s Going to Happen.” And This Time, Berkshire Is Not Piling into Stocks & Companies

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“I don’t think we’ll have a long-lasting Great Depression…. But we may have a different kind of a mess. All this money-printing may start bothering us.” By Wolf Richter for WOLF STREET. There is something refreshing during these insane times when a guy in his mid-90s who has seen it all and has been successful at navigating it, … Read more

There’s a Significant Risk of Cascading Defaults in Form of a “Debtors’ Strike”

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The bailouts are better described as organized protection racket run by banks, hedge funds, private equity investors & large corporations. By Karen Parker Feld, The Irreverent Economist at Paladin Advisors: The Fed has used the coronavirus crisis to double down on a failed strategy of supporting financial markets while the real economy declines. Our latest Quarterly Market Outlook & Strategy letter … Read more

Kellyanne Conway Shuts Down Reporter With One BRUTAL Reality Check

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https://www.youtube.com/watch?v=swfeiJBXmUE Courtney O’Brien from Town Hall reports, CBS News reporter Paula Reid irked President Trump at one of his coronavirus task force briefings last week with her snarky line of questioning. “Why are there no consequences for China for the misinformation?” she asked at one presser. Read More/Source/Credit/FairUse: https://townhall.com/tipsheet/cortney…

More depression era-style news.

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More depression era-style news. Over 50% of Los Angeles is now unemployed. #COVID19 #coronavirus https://t.co/vUOhjU1jio — Stephen Punwasi 🏚️📉🐈☃️ (@StephenPunwasi) April 19, 2020 More than half of Los Angeles workers are now unemployed, according to a national survey. Research from the USC Downside Center for Economic and Social Research found that only 45% of LA residents are … Read more

Tales From A NYC Small Business Owner

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by  andersondylan087   I am a small business owner in NYC. My business is currently shutdown. I run/ran a hospitality-based company. This is my story. TLDR: My business Bank didn’t accept applications for Paycheck Protection Program prior to funds running out. Business interruption insurance doesn’t cover us because “f*ck off”. Personal insurance doesn’t cover loss of … Read more

For the past three months this guy has been writing article after article saying to buy oil. He’s finally decided to NOT buy oil.

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by adayofjoy tl;dr Do the inverse of everything this analyst says. Now’s probably the time to buy oil. So this guy has been almost consistently wrong telling everyone to buy oil in the past 3 months, and only last week did he finally say to NOT BUY oil (right away). Most of his articles are … Read more

‘Live Free or Die’: Protesters march against California stay-at-home rules in Huntington Beach

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A group of more than 100 protesters converged on Huntington Beach on Friday in a demonstration against California’s coronavirus stay-at-home rules, part of a series of national demonstrations organized by conservative groups. The protesters — some with Trump banners and American flags — mostly were not wearing masks or practicing social distancing by standing at … Read more

Going Short Is Now American II

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by JimCramerSober Your name is Jim, born and raised in America, went to Stanford University for business. You have a good heart and an entrepreneurial spirit. You recently graduated and it’s 2012. You notice that average folk are financially illiterate beyond comprehension. This is an opportunity for you to create a financial app to help … Read more

Credit Suisse view on the S&P500

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by BlueTreeCloud The S&P 500 is showing signs of stalling as expected at the beginning of our flagged resistance/objective, seen stating at 2855 and stretching up to 2934 – the 61.8% retracement of the Q1 collapse. Although the market fell yesterday, volume was actually muted and this suggests that even if our view is correct … Read more

How Big banks manipulated Payroll Protection Program to benefit their preferred client

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by FearlessActions There are lot of Businesses applied for PPP with proper documents and did not get funds because of non-transparent Bank Process and handling. Here is my experience. Please share your experience and help others in gaining info. 1.Filled online PPP form on bank of America website. Got email to upload documents on 6th April … Read more

Danielle DiMartino Booth said Beijing officials were aware of the outbreak in Wuhan in November

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Danielle DiMartino Booth said Beijing officials were aware of the outbreak in Wuhan in November She said Chinese officials had countless lives on their hands for under-reporting The economist points to a ‘pandemic clause’ in the January US-China trade deal It came as Wuhan revised its official death toll to add nearly 1,300 fatalities China … Read more

Michael Pento – Losing Faith in Fiat – Record High Gold Around the World. Coming a Time When the Money is No Good & Bonds are No Good

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Money manager and economist Michael Pento predicts a “tsunami of inflation” is coming in the not-too-distant future. Pento says, “People are losing faith in fiat currencies. The price of gold in other currencies is already at all-time record highs. Even in dollar terms it’s $1,700 per ounce and on its way to record highs. What … Read more

Local newspapers owned by MEGACORP received large loans in the millions from stimulus for small businesses SBA

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Here’s just one example from Tampa Bay, FL. Taxpayer dollars went to bailout a dying industry owned by large companies with “small business loans.” SNIP The Tampa Bay Times and its related companies received a loan of $8.5 million under the federal government’s program to support businesses harmed by the coronavirus pandemic. The loan is … Read more