Oroville Dam Leaking Again

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by Natura Naturans Is Oroville dam going to fail AGAIN? This article notes it is leaking in the same places it did in the last failure under the spillway: March 18, 2019 Complete failure at Oroville Dam By Chriss Street The $1.1 billion spent to repair Oroville Dam is failing as water is seeping through the … Read more

Fed nominee Stephen Moore warns of ‘biggest selloff in the stock market in American history’

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Link: https://www.wsj.com/articles/dow-2400-anyone-11556549091 Moore said that if Trump loses the Dow will crash 91%. Obviously, this is bullshit, but markets do not like it when the Fed’s independance is threatened, and it seems like the nominee has a lot of political bias. Do you think this news will affect the market in any way? Not because of … Read more

Chinese car hailing company demands compensation from Tesla via advertisements in Times Square

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What is going on with Tesla in China? Global Times (aka the Chinese Communist Party) reports on “Chinese car hailing company demands compensation from Tesla in Times Square, NYC” According to information released by the company, Shenma Zhuanche is the biggest buyer of Tesla cars in the Asian Pacific region, having purchased 278 vehicles from … Read more

Chart Shows Glaring Economic Risk That Could Wipe out Record Highs

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via CNBC: Economic forecaster Lakshman Achuthan is warning Wall Street that the market’s new highs don’t signal a revitalized growth cycle. Achuthan, co-founder of the Economic Cycle Research Institute, believes it’s not an ideal environment for sustainable gains. “All the optimism is really in these risk-on assets,” he said Wednesday on CNBC’s “Trading Nation. ” … Read more

Deutsche Bank Is on the Ropes Without a Plan to Fight Back

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via CNN: London (CNN Business)Deutsche Bank is in rough shape and its leadership has gone silent on their plans for the future. First quarter results from Germany’s largest bank on Friday showed that revenue is falling faster than costs, one day after merger talks with crosstown rival Commerzbank (CRZBF) were called off. Yet CEO Christian Sewing has been … Read more

Uber and Lyft’s accounting both define drivers as customers, not passengers, and this definition increases their sales $ by over 10%

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From Wall Street Journal: Uber and Lyft each provide substantial discounts and incentives to riders, which subsidize the cost of trips and encourage usage. But they don’t account for these amounts in their sales numbers. Instead they categorize them as marketing expenses. That inflates reported gross profits and distorts common analyses of the companies’ unit economics. … Read more

Morgan Stanely: Don’t bet on a melt-up

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via themarketear: Wilson´s worried: 1. We do not change our broader call for a multi-year trading range of 2400 – 3000 for the S&P. With valuations at the high end of fair value and continued conviction that earnings estimates still need to be lowered, we would avoid betting on a melt up 2. The high … Read more

Vanguard Drops The Hammer In ETF Fee War With 21 Price Cuts

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https://finance.yahoo.com/news/vanguard-drops-hammer-etf-fee-143705599.html On April 26, Vanguard said it’s lowering fees on 21 of its ETFs, including its two largest funds, the Vanguard S&P 500 ETF (NYSE: VOO) and the Vanguard Total Stock Market ETF (NYSE: VTI). VTI and VOO are the third- and fourth-largest U.S.-listed ETFs, respectively, and are two of the four ETFs with more than $100 billion in … Read more

Record valuations and leverage alone do not make a market top. Add macro timing:

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Record valuations and leverage alone do not make a market top. Add macro timing: -Faltering consumer confidence-Liquidity drying up-Negative economic surprises-EPS growth deceleration-Yield curve inversions-Extreme VIX short-China shocks to comehttps://t.co/9DrQo35QlK — Kevin C. Smith, CFA (@crescatkevin) April 26, 2019 The recipe for a hard landing: Historical global debt imbalances.Record overvalued assets prices.Faith in central banks … Read more

42% of new cancer patients lose their life savings — A new study delivers the dark financial reality of cancer.

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via bigthink: 62 percent of cancer patients report being in debt due to their treatment. 55 percent accrue at least $10,000 in debt, while 3 percent file for bankruptcy. Cancer costs exceed $80 billion in America each year. Rebecca Meyer was diagnosed with glioblastoma when she was 5 years old. She fought bravely for 10 months … Read more

[DS] In [CB] Resisting, Trump Pushing For Change

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Savings rate plunges as more people spend their money. People are using their savings, plus credit cards to spend. The experts were wrong again, the shutdown did not collapse the economy. Trump has changed the laws regarding Dodd-Frank and the Volker Rule and the [CB] refuses to follow the new law. IMF warns of slow … Read more

How To Survive A Flash Flood In Your Car

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via readynutrition: Since flood season is upon us, and it’s “unprecedented” this year, it could be helpful to learn how to gain some knowledge and learn to survive a flash flood.  If you get caught in your car in a flash flood, knowing the proper steps to take could save your life and the lives of anyone else … Read more

Chicago Still Getting Snow

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by Martin Armstrong Chicago still just got 2.5 inches of snow cancelling numerous flights. Snowing this late in the season is concerning on our models. As I have warned, the winters will get longer and the summers shorter. This can cause severe reduction in the production of food in the years ahead. The snow over the weekend … Read more

Tesla Discloses Record Pollution Credits for Q1: Without Them, it Would Have Lost $918 Million and Bled $1.14 Billion in Cash

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Wolf Richter wolfstreet.com, http://www.amazon.com/author/wolfrichter The surprise in the SEC 10-Q filing when no one was supposed to pay attention. Today, when no one was supposed to pay attention any longer, Tesla filed its quarterly report Form 10-Q with the SEC. Tesla had reported “earnings” on April 24, a doozie of a net loss of $702 million. But … Read more