Administration faces significant hurdles in getting Fed to help rescue an oil industry squeezed by plunging crude prices given CB’s aversion to helping specific industries & ITS LACK OF AUTHORITY TO HELP BUSINESSES THAT ARE INSOLVENT …BECAUSE IT’S AGAINST THE LAW!

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Administration faces significant hurdles in getting Fed to help rescue an oil industry squeezed by plunging crude prices given CB’s aversion to helping specific industries & ITS LACK OF AUTHORITY TO HELP BUSINESSES THAT ARE INSOLVENT …BECAUSE IT’S AGAINST THE LAW!@business — Danielle DiMartino Booth (@DiMartinoBooth) April 24, 2020 How to ruin your banking system… … Read more

If corporate America expects us to bail them out every time we have a crisis, then maybe we need to start charging corporations a higher tax rate as an insurance premium…

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If corporate America expects us to bail them out every time we have a crisis, then maybe we need to start charging corporations a higher tax rate as an insurance premium… Jim Chanos @jfc_3_ https://t.co/K6fBI00Ozt pic.twitter.com/nIDw1WaSRL — Real Vision (@RealVision) April 24, 2020  

This is broken. Fed buying junk and it’s still broken. Almost back to levels prior to the announcement.

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https://twitter.com/Simple_Trends/status/1253446395215953921 https://twitter.com/RealTianZeng/status/1253726965070270467 https://twitter.com/tyler_bryant/status/1253531527574507520 https://twitter.com/NorthmanTrader/status/1253325114013151233 Longer term HYG risk proxy and S&P 500 are now back after massive Fed backed move. Interesting that HYG is trending down while Spooz are running higher. Careful peeps. pic.twitter.com/0fvIcnj335 — Gubb (@gubbmintcheese) April 24, 2020 https://twitter.com/jtepper2/status/1253564461308403712

Dollar shortage warning. New lows for EM currencies with $BRL being decimated. Blood in the streets? Not even close.

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Dollar shortage warning. New lows for EM currencies with $BRL being decimated. Blood in the streets?Not even close. Wall Street still estimates a 20+% appreciation in $BRL and further rate cuts by end of 2021. Good luck with that. pic.twitter.com/qrKJAJQ7OM — Otavio (Tavi) Costa (@TaviCosta) April 24, 2020 https://twitter.com/HaulingWolves/status/1253666839307132928 Red flag in the Umich sentiment … Read more

Watch for the ripple effects… More homeowners seeking to delay mortgage payments; Credit card companies are reducing card limits; US earnings revision ratio is back to ‘08 lvls;

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Bloomberg News with some distressing news: U.S. homeowners seeking to delay mortgage payments topped 3.4 million, up 17% from a week earlier, according to Black Knight. About 6.4% of mortgage borrowers have entered forbearance — Robert Burgess (@BobOnMarkets) April 24, 2020 Credit card companies are reducing card limits to mitigate future losses from borrowers who … Read more

U.S. Gasoline & Jet Fuel Days Of Supply Explode To Record Highs As Demand Collapses

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by Steve St Angelo of SRSrocco Report Unfortunately, for the already vulnerable U.S. Energy Market, the worst is still yet to come.  As one energy analyst forecasted, we may see a negative $100 for oil a barrel of oil.  While this may sound totally insane, domestic oil producers still haven’t cut anywhere near the amount necessary. As the … Read more

Will The Fed Bail Out Struggling U.S. Oil Companies?

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By Irina Slav The Department of Treasury may set up a lending fund for oil companies, Secretary Steven Mnuchin told Bloomberg this week, adding that there was nothing final yet. “One of the components we’re looking at is providing a lending facility for the industry,” Mnuchin said. “We’re looking at a lot of different options, and we … Read more

How many US Dollars are enough?

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by Shaun Richards The issue of what you might call King Dollar is not one which gets the coverage it deserves. Instead the media coverage tends to highlight claims that its period of rule is on the way out with China demanding more use of the Yuan or Russia the rouble and so on. Or … Read more

“We Need Big Brother to Beat This Virus: Do not let the civil liberties lobby blind us to the fact that greater state surveillance, including ID cards, is required.” – UK Times

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This is behind a pay wall, but do you really need more than a title? “Civil liberties lobby.” I am laughing. The NWO is not coming. It is already here. https://www.thetimes.co.uk/article/we-need-big-brother-to-beat-this-virus-5b0njl68r   h/t  girlwithpolkadots

Trump asked about how Coronavirus might impact the election.: “We have a sleepy guy in the basement of a house that the press is giving a free pass to… they’re keeping him sheltered.”

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Trump asked about how Coronavirus might impact the election. “We have a sleepy guy in the basement of a house that the press is giving a free pass to… they’re keeping him sheltered.” pic.twitter.com/5RlMyH16kQ — Benny Johnson (@bennyjohnson) April 23, 2020 A sleepy guy in a basement, he’s not moving around much. LOL!   AC

Michigan Gov. Whitmer Could be in “Big Trouble,” after No-Bid Contract Attempt. Democrat money laundering at it’s finest.

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Somehow, she’ll place the blame on Trump. DURRR!!!! If Trump didn’t make the Chinese start the plandemic, I wouldn’t have been forced to act in a corrupt manner! Former Nevada Attorney General Adam Laxalt said Democratic Michigan Gov. Gretchen Whitmer could be “in big trouble” for attempting to give a no-bid contract to a Democratic … Read more

A U.S. warship has sailed through the sensitive Taiwan Strait for the second time in a month

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TAIPEI, April 24 (Reuters) – A U.S. warship has sailed through the sensitive Taiwan Strait for the second time in a month, Taiwanese and U.S. militaries said on Friday, amid heightened tensions between Taiwan and China and as a Chinese aircraft carrier passes near the island. — Vincent Lee (@Rover829) April 24, 2020 A US … Read more