Bloomberg campaign hit with FEC complaint for $18M transfer to DNC

“A Federal Elections Commission complaint has been filed against former New York City mayor and 2020 presidential hopeful Mike Bloomberg for an $18 million transfer from his defunct campaign to the Democratic National Committee At the core of the complaint is the tenuous distinction between Bloomberg’s personal finances and those of his presidential campaign. The … Read more

GM Price Gouging… POTU: Signs Memorandum Ordering GM to Start Making Ventilators

Trump slams GM over ventilator production delays, costs President Donald Trump lashed out at General Motors on Twitter Friday morning after reports emerged that his administration canceled a deal to buy tens of thousands of ventilators GM had agreed to produce in partnership with a ventilator manufacturer. “As usual with ‘this’ General Motors, things just … Read more

James Howard Kunstler: When The Financial World Broke With Reality

BY JOHN RUBINO In the sound money world there are a lot of journalists, a few serious analysts, and a handful of effective polemicists. But James Howard Kunstler is an artist, whose work frequently rises to the level of literature. His latest illustrates the point: Forced Liquidation Historians of the future, pan-roasting fresh-caught June bugs over their campfires, may wonder … Read more

How the Fed Fixed the Repo Crisis

by David Haggith This week’s results in the Fed’s repo-market interventions in one fell swoop proved everything I’ve said about the Fed’s intervention being QE4ever. The following results show the repo market has been fixed: Zero Hedge Zero Hedge The instant the Fed returned to full-on, “we-now-call-it-QE” QE, the repo market settled right down to an … Read more

Watch The Virus Checks Become Permanent Income

BY JOHN RUBINO Two things about the coronavirus relief checks the government will soon start sending out: First, it looks like they’ll take a while to arrive: Show Me The Relief Money – No Promises On When Coronavirus Checks Are Coming About 90% of households — approximately 165 million — will benefit from direct payments, according … Read more

If you’re going to actively invest, read the full text of the stimulus bill. There’s a lot that the media isn’t fully reporting.

by skilliard7 If you aren’t sticking to a consistent strategy of index investing and not buying/selling, and think you can outsmart the market, then make sure you read the full stimulus bill as the details are very important. The media is focused on raw dollar amounts and what families get, they don’t focus much on … Read more

Volatility is high – There will be 12% swings

by SAnderson1986 What is Volatility? Volatility is a statistical measure of the dispersion of returns for a given security or market index. In most cases, the higher the volatility, the riskier the security. Volatility is often measured as either the standard deviation or variance between returns from that same security or market index. In the securities markets, volatility is often associated with … Read more

Sunk Cost: Why newbie are burning money

by theoneguywiththename Alright you need to learn how your own two hands work. There is a big difference between having strong hands and watching your portfolio burn for no reason. If you’re going to watch it burn, it should be in a blaze of yolo glory, none of this slow burning weak shit. There is … Read more

It’s Official: Debt Restructurings Coming Quote Tweet

It’s Official: Debt Restructurings Coming https://t.co/xcZZEyXBik — Willem Middelkoop (@wmiddelkoop) March 27, 2020 Fitch Downgrades UK Credit Rating To AA- After Sterling’s Best Week Since 1985 Plaza Accord The UK’s public finances were already set to weaken following the stimulus measures announced in the budget on 11 March, and they are now set to deteriorate more rapidly… https://twitter.com/LynAldenContact/status/1243546441844490240 … Read more

3% of restaurant operators have already closed permanently

3% of restaurant operators have already closed permanently per research from the National Restaurant Association – 11% anticipate going out of business within 30 days– 44% are temporarily closedhttps://t.co/rwRORzp9ET pic.twitter.com/MgHKtT9Ypo — Stacey (@iamstacetheace) March 27, 2020 This announcement of layoffs by United Airlines came literally a few hours after they got $25B in grants from … Read more

ECB will own half the eligible corporate market by year-end, and half the entire IG corporate market within 18 months.

ECB will own half the eligible corporate market by year-end, and half the entire IG corporate market within 18 months. pic.twitter.com/92pAMPQ9MV — Taylor-Swift Yield Spread (@TayTayLLP) March 27, 2020   Draghi: Europe Must ‘Prevent From Morphing Into a Prolonged Depression’ ‘The challenge we face now is how to act now with sufficient strength and speed … Read more

If things get uglier, will the Fed buy high yield bonds?

If things get uglier, will the Fed buy high yield bonds? They’ve proven they’ll flout the law by skirting the Federal Reserve Act by buying securities prohibited by law through special purpose vehicles. Curious on your views. Graph care of DB’s Slok ⁦@Quillintel⁩ pic.twitter.com/AWoIfBSLsi — Danielle DiMartino Booth (@DiMartinoBooth) March 27, 2020  

I still would like to know why we are bailing out corporations 5 weeks after all time highs. Corporations that have chosen to spend a cumulative $5.4 trillion in buybacks since 2009. That was their choice not to build any reserves.

https://twitter.com/NorthmanTrader/status/1243583459140030469 U.S. corporate profits have been relatively flat for several years. This chart shows the Wilshire total stock market plotted alongside corporate profits, indexed to 100 in 1995. Not a pure apples to apples comparison, but interesting. pic.twitter.com/LBnNXpZFg4 — Lyn Alden (@LynAldenContact) March 27, 2020 Fed's balance sheet adds $1 trillion in a week, up … Read more