BARRACK: Commercial Mortgages on Brink of Collapse… Bond Sales Flood Market Amid Pleas for Help… Virus Reveals Financial Irresponsibility of Americans

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Jobless Rate May Soar to 30%… BARRACK: Commercial Mortgages on Brink of Collapse… (Bloomberg) — Real estate billionaire Tom Barrack said the U.S. commercial-mortgage market is on the brink of collapse and predicted a “domino effect” of catastrophic economic consequences if banks and government don’t take prompt action to keep borrowers from defaulting. Barrack, chairman … Read more

The System Will Not Return to “Normal,” and That’s Good; We Can Do Better

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by Charles Hugh-Smith Essential home lockdown reading. The pandemic is revealing to all what many of us have known for a long time: the status quo was designed to fail and so its failure was not just predictable but inevitable. We’ve propped up a dysfunctional, wasteful and unsustainable system by pouring trillions of dollars in borrowed money … Read more

This Video Is For Everyone That Used To Mock Preppers

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by Michael Snyder As fear of the coronavirus spreads across America like wildfire, we have witnessed “panic buying” on a scale that is absolutely unprecedented. On Saturday, Zachary Drew posted a video that shows what the shelves at his local Wal-Mart now look like.  He lives in Illinois, and now that a “shelter-in-place” order has been issued … Read more

NEW YORK — Military is Outlining Plans to Take Over Hotels, Dormitories, Arenas to Treat Patients

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NY State Declared Major Disaster Area After 56 Coronavirus Deaths — Military is Outlining Plans to Take Over Hotels, Dormitories, Arenas to Treat Patients On Friday President Trump declared New York State a major disaster area as the number of confirmed coronavirus cases jumped to 10,356 by Saturday morning. There have been 56 deaths reported in the state due … Read more

ITALY – “We no longer help those over 60”

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Israeli medical doctor Gai Peleg told Israeli television that in northern Italy the orders are not to allow those over 60 access to respiratory machines. Israeli doctor Gai Peleg, who is currently working to save lives in Parma, Italy, told Channel 12 that things are only getting worse as the number of patients keeps growing. … Read more

Worst of the Global Selloff Isn’t Here Yet

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Wall Street is only now coming to grips with the dislocation being wrought by the coronavirus The most brutal stretch for global markets since the financial crisis likely isn’t over yet, say investors and analysts who believe it is too early to assess the possible scale of economic damage from the coronavirus. In just a … Read more

FYI Tesla or any other automaker making ventilator is BS

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“The effective operation of a production facility for ventilators is only possible in an integrated supply chain with sub-suppliers of components,” wrote Kamann. “To meet the technological and quality requirements, close integration and exchange are necessary. New production lines would only generate additional output if the supply industry were also doubled, which is impossible in … Read more

Where Will the US Stock Market Crash End?

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by David Haggith   As the carnage continues with stocks now ignoring anything the Fed throws at them — and the Fed has pretty well thrown everything it has used in the past and is now moving into bailout mode — where is the US stock market crash likely to to stop falling? So far, it’s … Read more

The Global Economy Won’t Bounce Back Soon

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Authored by Daniel Lacalle via The Mises Institute, In February, the general consensus between large investment banks and supranational entities was that there would be a one-time hit to GDP in the first quarter due to the impact of the coronavirus, followed by a stronger, V-shaped recovery. The IMF expected a modest correction of global GDP … Read more

There goes the sewage system.

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As the toilet paper crisis ramps up, many Australians are turning to alternative products — but these photos prove using them is a big mistake. Shocking photos have emerged online revealing exactly what happens to sewage pipes when people attempt to flush items other than toilet paper. Right now amid coronavirus pandemic fears, Australian shoppers … Read more

Ohio shutting down

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We just got word that the Ohio governor will close all non critical infrastructure starting tomorrow. We’ve been given our travel document in case we get stopped.   h/t Jay