Most Americans Are Not Going To Be Able To Handle What Lies Ahead

by

https://www.youtube.com/watch?v=Pa8zOmvMcrg For the past few days, I have been explaining the different impacts the current health situation has had on the economy. I have warned you about the stock market crash and the oncoming derivative crisis. In fact, as oil prices crashed into negative ground in an unprecedented market collapse, I was, unfortunately, proven right. … Read more

Firefighters beg “Stop microwaving face masks!”

by

Quote:It doesn’t sanitize the masks, but it could set your kitchen on fire. People across the country have been putting face masks in microwaves in attempts to kill germs, leading fire departments to caution against the move. … “The NH State Fire Marshal’s Office (NHFMO) would like to remind everyone that “microwaving their masks to … Read more

Massive layoffs and pay cuts for Gov workers

by

State and local governments are warning of a wave of layoffs and pay cuts after getting left out of the federal coronavirus relief package expected to pass Congress this week. In many places, such as Detroit and Los Angeles, those painful reductions are already taking shape. State and local governments received aid under the $2.2 … Read more

New Treasury/SBA Guidance: If you don’t need the PPP money, return it!

by

by NeoMatrix5 https://home.treasury.gov/system/files/136/Paycheck-Protection-Program-Frequently-Asked-Questions.pdf https://www.cnbc.com/2020/04/23/us-issues-new-guidance-for-small-business-loans-to-make-it-harder-for-public-companies-to-get-funds.html In addition to reviewing applicable affiliation rules to determine eligibility, all borrowers must assess their economic need for a PPP loan under the standard established by the CARES Act and the PPP regulations at the time of the loan application. Although the CARES Act suspends the ordinary requirement that borrowers must … Read more

For those of you applying for PPP 2nd tranche. .Money is likely already gone to those on waitlist…

by

CNBC: New $310 billion in aid for small businesses is likely already used up, banks say. https://www.cnbc.com/2020/04/23/new-310-billion-in-aid-for-small-businesses-is-likely-already-used-up-banks-say.html The more than $300 billion set aside to replenish the emergency loan program for small businesses impacted by the coronavirus pandemic is likely already all spoken for, banking industry groups said. Banks say the volume of applications already sent … Read more

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.

by

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

by

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

by

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.

by

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.

by

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.

by

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