US Banks Brace For Surge In Loan Losses (S&P 500 Bank / S&P 500 Index Back To Early 2009 Levels)

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by confoundedinterest Here we go again? With the economic shutdown thanks to the Wuhan virus, the Big Banks are in the US are preparing to be over, under, sideways, down. (Financial Times) — Loan loss charges at six big American banks reached a total of $25.4bn in the first quarter. This marks a 350 per cent surge in … Read more

U, W, V, or L ??

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https://twitter.com/WallStJesus/status/1251668167627280385 [Thread] 👇 After one month of coronavirus lockdown, more than 50% of Los Angeles is now unemployed. Follow along for live updates on the latest #coronavirus news around the globe.https://t.co/lMHXVn84ka — Win Smart, CFA (@WinfieldSmart) April 18, 2020 Who's next? Will be a plethora of companies going bankrupt ever so shortly. 90% of companies … Read more

Comrade deBlasio Introduces New York City Snitching Program – Take a Photo of Non-Compliant Behavior…

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by sundance Comrade Bill deBlasio in New York City is making it easier than ever to snitch on your neighbors. If you happen to spot someone not obeying social isolation orders, or if you spot someone without a mask, the mayor is now asking people to take a picture of the rebellious activity and text it to the … Read more

The fed bought 700 billion in treasure securities and 200 billion in MBS. How did that help to “stabilize” the market?

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by enginerd03   banks have a lot of treasuries banks do not have a lot of cash businesses need cash to operate banks cant give them cash, because banks have a lot of treasuries fed buys treasuries from banks, giving them cash. banks have cash banks can give cash to businesses in the form of loans. … Read more

The Real Reason Russia Teamed up with China…Here’s What Comes Next for American Preeminence and the Dollar

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Via International Man Editor’s Note: Vladimir Pozner is Russia’s most influential political TV talk-show host, journalist and broadcaster. Pozner has hosted several shows on Russian television, where he has interviewed famous figures such as Hillary Clinton, Alain Delon, President Dimitri Medvedev and Sting. Pozner has appeared on a wide range of networks, including NBC, CBS, … Read more

Jim Rogers Warns : This is a Financial Crisis Like No Other – Preparing for Economic Collapse

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by Amy S.   Jim Rogers Warns : This is a Financial Crisis Like No Other – Helicopter Money Wont Fix Debt Bubble The markets took a lot of aspirins today, but they will wear off tomorrow, and the headaches should return. Dow should finish below 20,000 tomorrow. Unless they are given more aspirins. Eventually, though, … Read more

Some Of This Is About Insufficient Contagion Control, And Some Of It Is About Density And Inadequate Medical Infrastructure:

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New wave of infections threatens to collapse Japan hospitals. Hospitals in Japan are increasingly turning away sick people as the country struggles with surging coronavirus infections and its emergency medical system collapses. In one recent case, an ambulance carrying a man with a fever and difficulty breathing was rejected by 80 hospitals and forced to … Read more

The largest US bank is quietly shutting down ahead of a historic defaul shitstorm that is about to hit the US.

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via Zerohedge: Earlier this week, JPMorgan reported that its loan loss provision surged five fold to over $8.2 billion for the first quarter, the biggest quarterly increase since the financial crisis (even if its total reserve for losses is still a fraction of what it was during the 2008-2009 crash). And while Jamie Dimon was … Read more

The Miami Beach Convention Center is completely turned into a Hospital!

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The Army Corps of Engineers has just completed turning the Miami Beach Convention Center into a Field Hospital after the curve has flattened and handed it over to the NG. Anyone think it is strange they completed this so late in the game? Or is it for when the food runs out? https://www.remiamibeach.com/citywide/miami-beach-convention-center-lease-for-temporary-hospital-includes-a-reduced-rental-rate-sanitization-requirements/   One … Read more

Berkshire will shut some businesses, stay cautious in coronavirus ‘typhoon,’ Munger tells WSJ

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https://finance.yahoo.com/news/berkshire-shut-businesses-stay-cautious-184551618.html (Reuters) – Warren Buffett’s Berkshire Hathaway Inc <BRKa.N> will close some smaller businesses and is positioning itself conservatively as it rides out the coronavirus pandemic, Berkshire Vice Chairman Charlie Munger said in an article published on Friday. “We’re like the captain of a ship when the worst typhoon that’s ever happened comes,” the 96-year-old … Read more