US lost all job gains made since “Great Recession,” some of these claims have to be people who will get their job back when the storm passes, but their employer doesn’t want to pay them. On the other hand, claims probably understate the problem.

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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

Ben Felix – The Stock Market vs The Economy

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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

Avoiding FOMO and FUD

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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

Wall St and the Fed Will Soon Discover They’re not Invincible.

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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

The Eurozone Services #PMI dropped to an unprecedented 11.7. Germany’s consumer confidence collapsed way beyond anything seen during the GFC.

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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.

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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

Rising risks to the stock market’s rally

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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

In Bull markets, Stocks Don’t Sell Off on Bad News

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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

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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

Business owner obtains payroll loan to keep paying 35 employees — they respond with a ‘firestorm of hatred’

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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

CA Govorner sigs a $1 billion contract to buy masks for more than $5ea, while any shmuck with an internet connection can buy them for $2ea

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  via foxnews: California Gov. Gavin Newsom is facing pushback as state lawmakers have begun demanding details of his nearly $1 billion deal to receive 200 million masks per month from a Chinese manufacturer. Just two weeks after announcing the deal, Newsom has remained largely mum on the specifics. Advisers to the California Democrat have declined requests for comment from … Read more

Watch NY Gov Cuomo say his life is more important than yours, running out of money is no big deal, and you go get an “essential job” if you are suffering so bad!

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A reporter asked Gov. Cuomo what he’d say to New Yorkers who want to go back to work because they’re running out of money, to which he replied, “economic hardship doesn’t equal death” “You want to go to work? Go take a job as an essential worker” he added https://t.co/BgwoOZsQRy pic.twitter.com/WxGQxtg49p — CBS News (@CBSNews) … Read more