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More depression era-style news. Over 50% of Los Angeles is now unemployed. #COVID19 #coronavirus https://t.co/vUOhjU1jio — Stephen Punwasi 🏚️📉🐈☃️ (@StephenPunwasi) April 19, 2020 More than half of Los Angeles workers are now unemployed, according to a national survey. Research from the USC Downside Center for Economic and Social Research found that only 45% of LA residents are … Read more
by ricenbeats Look at this goddamn chart: https://imgur.com/gallery/scPTvaH Strong indicator that there is about to be a big drawn down of value among the top five. But given the circumstances, how will it play out the next ten years? What will be the top five ten years from now? Amazon: Seems best positioned for success given … Read more
by andersondylan087 I am a small business owner in NYC. My business is currently shutdown. I run/ran a hospitality-based company. This is my story. TLDR: My business Bank didn’t accept applications for Paycheck Protection Program prior to funds running out. Business interruption insurance doesn’t cover us because “f*ck off”. Personal insurance doesn’t cover loss of … Read more
So Amazon is definitively challenging the French way to treat US top tech companies (see recent huge fines to Google and Facebook). We can expect it doesn’t end with this virus issue, it is the first one to take strong positions against what they think is unfair treatment (the majority of French e-shops are permitted … Read more
by adayofjoy tl;dr Do the inverse of everything this analyst says. Now’s probably the time to buy oil. So this guy has been almost consistently wrong telling everyone to buy oil in the past 3 months, and only last week did he finally say to NOT BUY oil (right away). Most of his articles are … Read more
(Bloomberg) — In Fargo, North Dakota, cheap fuel has never been so unwelcome. The Midwestern city is so awash in gasoline, the fuel last week sold for a record 12 cents a gallon at the rack — its last stop before the pump. In better times, the price dip would be a boon for gas … Read more
A group of more than 100 protesters converged on Huntington Beach on Friday in a demonstration against California’s coronavirus stay-at-home rules, part of a series of national demonstrations organized by conservative groups. The protesters — some with Trump banners and American flags — mostly were not wearing masks or practicing social distancing by standing at … Read more
by BattletoadRash From a TA perspective this should be a pivotal week, as we are now approaching 3 separate levels of resistance: In our initial downturn, we hit the 2860 level as a low on 02/28 where it acted as support. We then hit it again as a high (2880) on 03/10, where it flipped … Read more
by JimCramerSober Your name is Jim, born and raised in America, went to Stanford University for business. You have a good heart and an entrepreneurial spirit. You recently graduated and it’s 2012. You notice that average folk are financially illiterate beyond comprehension. This is an opportunity for you to create a financial app to help … Read more
BY JOHN RUBINO Alasdair Macleod: Currency destruction is coming this year … Danielle DiMartino-Booth: Is the next Great Depression here? … Classic 2019 Matt Tiabbi on the Joe Rogan Show … McAlvany: Living in the long emergency … Max Keiser: The Fed can’t print a supply chain …
by BlueTreeCloud The S&P 500 is showing signs of stalling as expected at the beginning of our flagged resistance/objective, seen stating at 2855 and stretching up to 2934 – the 61.8% retracement of the Q1 collapse. Although the market fell yesterday, volume was actually muted and this suggests that even if our view is correct … Read more
by FearlessActions There are lot of Businesses applied for PPP with proper documents and did not get funds because of non-transparent Bank Process and handling. Here is my experience. Please share your experience and help others in gaining info. 1.Filled online PPP form on bank of America website. Got email to upload documents on 6th April … Read more
Danielle DiMartino Booth said Beijing officials were aware of the outbreak in Wuhan in November She said Chinese officials had countless lives on their hands for under-reporting The economist points to a ‘pandemic clause’ in the January US-China trade deal It came as Wuhan revised its official death toll to add nearly 1,300 fatalities China … Read more
Money manager and economist Michael Pento predicts a “tsunami of inflation” is coming in the not-too-distant future. Pento says, “People are losing faith in fiat currencies. The price of gold in other currencies is already at all-time record highs. Even in dollar terms it’s $1,700 per ounce and on its way to record highs. What … Read more
Here’s just one example from Tampa Bay, FL. Taxpayer dollars went to bailout a dying industry owned by large companies with “small business loans.” SNIP The Tampa Bay Times and its related companies received a loan of $8.5 million under the federal government’s program to support businesses harmed by the coronavirus pandemic. The loan is … Read more
Sunday Laws are the mark of the beast. The powers that be are pushing forward in that direction. It will force worship. Religious freedom will come to an end. You must worship on Sundays for them. It will not matter if you “truly believe” Sunday is the Sabbath or not. Think of Shadrach, Meschach, and Abednego. Do you … Read more
by AlexanderEfrosCPA Per review of the Paycheck Protection Program reports released by the SBA on 4/13/2020 and 4/16/2020 (a difference of just 3 days), the average approved loan size decreased from $239,152 to $206,000 (a decrease of over 13%). Furthermore, the total number of loans approved in the amount of $150,000 and lower increased by … Read more
by gobigorange86 This week’s SPY fund flows, though, are quite interesting – and perhaps? suggest the bull gang momentum is waning. I’m not saying gung ho the drop cometh, but interesting stat to chew on. Weekly SPY FUND FLOWS since 1/19/2020 (week beginning): 1/19-1/25 : $1,987 mil outflow 1/26-2/1: $57.4 mil outflow 2/2-2/8: $1,320 mil … Read more
I’d like to report the Mayor of NYC who was encouraging people to ride the subway in early March. Where do I send this text? https://t.co/cRhKscGHpI — Paranoid Bull (@paranoidbull) April 18, 2020
by SpontaneousDisorder This new index is now being updated here, I’ll add this to the wiki. Notice how it compares to the trough of the Financial crisis. https://www.newyorkfed.org/research/policy/weekly-economic-index Read this article to understand more about its construction. Its designed to show more immediate and high frequency estimate of GDP “growth”. https://libertystreeteconomics.newyorkfed.org/2020/03/monitoring-real-activity-in-real-time-the-weekly-economic-index.html The data its based … Read more