Mortgage Servicing Crisis 2 – Forbearance

by

by HowGreatAreYourDanes Mortgage Servicing Crisis – Chapter 2 – Forbearances I submitted a post last week summarizing some issues in the mortgage industry. It was a long article from Barry Habib with some insight/conclusions. I’m writing this to add to that post with some additional info about what’s going on in the industry and how … Read more

China’s unemployment crisis mounts, but nobody knows true number of jobless

by

As many as 205 million Chinese workers cannot find jobs or are unable to return to their previous posts, according to one analyst Debate over China’s unemployment reality amid coronavirus heats up, with holes picked in official government statistics https://www.scmp.com/economy/china-economy/article/3078251/coronavirus-chinas-unemployment-crisis-mounts-nobody-knows

TSLA default protection trade

by

by hanudu Someone took advantage of the pop in the stock and paid $0.44 for 631 of the June 2022 $5 strike puts The stock is trading around 500. Risking $0.44 to make $4.56, so getting more than than 10 to 1. This might be someone that is long TSLA bonds or has some other … Read more

Number of “fallen angels” has risen as rating & subsequent downgrade activity has picked up. 30% mortgage defaults coming! VIX about to explode in coming weeks again?

by

Number of “fallen angels” has risen as rating & subsequent downgrade activity has picked up; & in @MoodysInvSvc worst-case scenario, default rate could spike above 20% (past GFC levels) @Reuters @SPGlobal pic.twitter.com/6d39olHH0W — Liz Ann Sonders (@LizAnnSonders) April 3, 2020 Sure is interesting how all those BBBs have maintined their investment grade ratings with Fitch … Read more

The forthcoming cascade of job losses, bankruptcies, oil gluts, and economic destruction could far exceed the Great Depression of the 1930s.

by

via MN Gordon “The bank is something more than men, I tell you.  It’s the monster.  Men made it, but they can’t control it.” – John Steinbeck, The Grapes of Wrath Mass Dollar Debasement The monster of all monsters is rampaging far and wide.  The Federal Reserve, the central bank responsible for issuing U.S. legal tender notes, … Read more

Fed Economic Bust With Socialized “Public Health”

by

100 years ago, American politicians convinced Americans that a new age was here. Individual liberty was yesterday’s news. The principles of the Declaration of Independence and Constitution were ideas of a bygone era. Government would now take over. It would micromanage, “regulate” and “run” life in America. After 100 years of never-ending wars and intervention … Read more

VIRUS COULD BREAK UP EU…

by

BERLIN —The coronavirus pandemic, with its simultaneous health and economic crises, is deepening fault lines within Europe in a way some leaders fear could prove to be a final reckoning. The cohesion of the European Union had been battered by Brexit, bruised by the political fallout from the 2015 migration surge and the 2008 financial … Read more

Has Russia Reached Its Limit In The Oil Price War?

by

By RFE/RL staff When Vladimir Putin was given a dire forecast of the economy under the cloud of a crippling coronavirus pandemic and a sharp fall in global demand for petroleum, the Russian president was much less bullish about his country’s prospects in a price war with oil-producing rival Saudi Arabia. “For our economy, yes definitely, this is … Read more

Face coverings recommended, but Trump says he won’t wear one… ‘I don’t see it for myself, I just don’t’

by

Face coverings recommended, but Trump says he won’t wear one WASHINGTON (AP) — President Donald Trump announced new federal guidelines Friday recommending that Americans wear face coverings when in public to help fight the spread of the new coronavirus. The president immediately said he had no intention of following the advice himself, saying, “I’m choosing … Read more

China’s deadly coronavirus-lie co-conspirator — the World Health Organization

by

The fog of war obscures much about the novel coronavirus pandemic. But two facts seem absolutely certain. First, China’s Communist authorities have lied, concealed and misled about the origins of the epidemic and the toll of the virus in China. Second, the World Health Organization has acted as Beijing’s handmaid. The result: The global toll … Read more

The Largest Oil Market Intervention In History?

by

By Josh Owens As the world continues to grapple with the fallout from the coronavirus crisis, some of the largest oil producers in the world are coming together with the potential of a joint global oil output cut. (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to … Read more

Pandemic Drones to Identify Fever and Coughing

by

“Pandemic drones” outfitted with specialized sensor and computer vision system that can fly around cities and detect if people have elevated body temperatures, respiratory rates, as well as to identify if people are sneezing and coughing A US-based drone company called Dragonfly is spearheading the effort to build a drone network across public areas to … Read more

AMAZING: You’ll Never Get What POTUS Was Busted Doing

by

EXCLUSIVE: The Trump campaign has been donating meals to hospitals across the country to feed doctors, nurses and first responders on the front lines of the coronavirus battle, Fox News has learned. Since last Thursday, President Trump’s reelection campaign has been calling up local restaurants and ordering large amounts of food to be delivered to more than … Read more

Derailed Corporate Buyback “Gravy Train” May Sink Markets Further

by

From Birch Gold Group It appears the “sleight of hand” that corporations use to inflate share prices and bloat balance sheets may be slowing down, for now. The website Wolf Street highlighted the beginning of the end for this round of corporate share buybacks: So far into this crash, over 50 companies have suspended share buybacks, accounting for … Read more