WSJ Editorial Board: Fed “putting Wall St. ahead of companies across middle America.” “Fed is protecting Wall St first.” “Employing political discretion&picking winners & losers.” Thought 2008 bailouts were bad? This looks to be worse. Fed’s outta control

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WSJ Editorial Board: Fed "putting Wall St. ahead of companies across middle America." "Fed is protecting Wall St first." "Employing political discretion&picking winners & losers." Thought 2008 bailouts were bad? This looks to be worse. Fed's outta control https://t.co/z629cqoVQm — fred hickey (@htsfhickey) April 10, 2020 https://twitter.com/QTRResearch/status/1248724251269529600 🤔🤦‍♂️"The Facility will leverage its equity at 7 … Read more

Jim Rickards: Markets and Black Swans

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by Jim Rickards via Daily Reckoning I began studying complexity theory as a consequence of my involvement with Long-Term Capital Management, LTCM, the hedge fund that collapsed in 1998 after derivatives trading strategies went catastrophically wrong. After the collapse and subsequent rescue, I chatted with one of the LTCM partners who ran the firm about what went wrong. … Read more

Continuing to depend on China is a very serious national security threat that is no longer deniable and the US must act immediately.

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ANALYSIS: TRUE. Chinese Control of Supply Chain Is National Security Threat. Rep. Liz Cheney (R., Wyo.) said Chinese control of the pharmaceutical supply chain was a national security threat and that the United States must use its military to confront China around the world. “Look at what they’ve been able to do with respect to supply … Read more

When Even Ezra Klein Is Worried About Overintrusive Government, Your Reopening Plan Needs Work:

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I’ve read the plans to reopen the economy. They’re scary. Right and left, all the plans he’s reviewing basically come from think tanks. I expect that Trump’s plan will be better. But note that it’s all basically up to governors: The White House cannot unilaterally reopen the country. Though the Centers for Disease Control and Prevention … Read more

Either social distancing has worked, or it’s burning out on its own. Sadly, I’m pretty sure it’s the former.

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THE REPORTING IS ALWAYS QUESTIONABLE, BUT IT’S LOOKING AS IF WASHINGTON STATE IS ON THE BACKSIDE OF THE CURVE. Here’s the “confirmed cases” graph: And here’s the chart for deaths, which are usually a lagging indicator. Either social distancing has worked, or it’s burning out on its own. Sadly, I’m pretty sure it’s the former. Why are … Read more

Major Truth Bombs in this CNBC interview. The media conflates stock market performance with economic and (inter)national strength so that those self-styled ‘elites’ can continue to live like bloated parasites.

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The U.S. shouldn’t bail out billionaires and hedge funds during the coronavirus pandemic, Social Capital CEO Chamath Palihapitiya says. “Who cares? Let them get wiped out.” https://t.co/dIbizumtqG pic.twitter.com/fsoP3ITQDa — CNBC (@CNBC) April 10, 2020 Accurately calling out “zombie companies” for the con job they’re pulling on the vast majority of the human race. Those who … Read more

Pelosi says there is “no evidence” that americans need financial assistance right now.

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Nancy Pelosi really just said there’s “no data” suggesting Americans need financial assistance right now pic.twitter.com/RFmcjGsjKu — Caleb Hull (@CalebJHull) April 9, 2020 OK, so businesses laying people off and the weaker ones that are now permanently closing “don’t need assistance”. F*ck RIGHT off Record Bankruptcies Predicted as Unemployment Soars… Why relief to small businesses … Read more

Declassified transcript of Papadopolus proves there was no Russian collusion

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by sundance It has been so long since the original 2018 congressional request that many people have forgotten what was included in the “Bucket Five” declassification request. Bucket Five – Intelligence documents that were presented to the Gang of Eight in 2016 that pertain to the FISA application used against U.S. person Carter Page; including all exculpatory … Read more

CNN forgot the fake news lens filter and actually told the truth!

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Watch the latest video at foxnews.com CNN was lampooned by critics on Thursday after a headline of its report on Senate Democrats blocking financial relief for small businesses was quickly changed. A $250 billion urgent request to shore up a depleting small business fund failed to pass the Senate Thursday after Democrats objected to the measure pushed … Read more

Why the stock market is going up… and it’s not because the Coronavirus is going away

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by FiscalFrontier I think I know why the stock market is up… and it’s not because the Coronavirus is going away. It requires some macroeconomic and finance knowledge, but maybe, just maybe: Fed actions (buying assets) are lowering risk premiums Fed actions (lowering rates) are lowering asset yields overall Both of these actions lower stock … Read more

USAA to Refund Partial Premium to Members

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by cjw_5110 Relevant for USAA auto insurance members: https://communities.usaa.com/t5/Press-Releases/USAA-to-Return-520-Million-to-Members/ba-p/228150 Relevant passage: USAA, the country’s fifth largest property-casualty insurer, will be returning $520 million to its members. This payment is a result of data showing members are driving less due to stay-at-home and shelter-in-place guidance across the country. Every member with an auto insurance policy in … Read more