Retail Bankruptcies Are Piling Up At A Record Pace, Small Business Earnings & Employment Crashed, Economic Recovery Stalling….

Retail bankruptcies are piling up at a record pace, via @joshfromalaska "Five filed in the first two weeks of July, matching the record for a month with more than two weeks to go," with the latest being the parent of New York & Co. yesterday. @theterminal pic.twitter.com/4y0BC9zXH8

— Lisa Abramowicz (@lisaabramowicz1) July 14, 2020

SMALL BUSINESS EARNINGS pic.twitter.com/PZX98PnIvi

— Win Smart, CFA (@WinfieldSmart) July 15, 2020

SMALL BUSINESS EMPLOYMENT pic.twitter.com/j17hgHQatg

— Win Smart, CFA (@WinfieldSmart) July 15, 2020

Bankruptcies have not only been rising quickly — they have been rising in scale as "mega" firms go bust.

"More than 30 American companies with liabilities exceeding $1 billion have already filed for Chapter 11" this year.t.co/c04ftsA27Q via @denisewee1

— Sonali Basak (@sonalibasak) July 15, 2020

pic.twitter.com/oX5Lmsdgyb

— M/I_Investments (@MI_Investments) July 14, 2020

DO YOU LIKE CMBS HERE? pic.twitter.com/gVXiB9BrNR

— Win Smart, CFA (@WinfieldSmart) July 15, 2020

Crazy to think that Wells Fargo is now down 53% YTD.

Worst annual performance ever.

That’s the 4th largest US bank with near $2T of assets.

Hard to rationalize a revamp of economic growth in this macro environment:

– Low yields
– Record corporate debt
– Historic valuations. pic.twitter.com/HoQ6bbSuXh

— Otavio (Tavi) Costa (@TaviCosta) July 13, 2020

3 BIG BANK PROVISIONS pic.twitter.com/ISizntuSdY

— Win Smart, CFA (@WinfieldSmart) July 15, 2020

* U.S. HOUSE SPEAKKER PELOSI SAYS 'ABSOLUTELY' WILL DELAY AUGUST RECESS TO PASS CORONAVIRUS RELIEF BILL – @CNN INTERVIEW@Reuters

— Carl Quintanilla (@carlquintanilla) July 14, 2020

IP pic.twitter.com/KoDpP43JnK

— J. Brett Freeze, CFA (@Techs_Global) July 15, 2020

Goldman is more bearish on earnings pic.twitter.com/aDZAFWtz2c

— Win Smart, CFA (@WinfieldSmart) July 15, 2020

TSA data definitely appears to be stalling out/reversing. Big week-over-week drop yesterday without any obvious seasonal/weekly reason: pic.twitter.com/JG4dF6Mq9P

— Conor Sen (@conorsen) July 15, 2020

Banks Brace For A Historic Crash With Record Loss Provisions

“This is not a normal recession. The recessionary part of this you’re going to see down the road. You will see the effect of this recession. You’re just not going to see it right away because of all the stimulus.”

Executives at Bankrupt Companies Scored $131 Million in Bonuses…

JPMORGAN reports highest quarterly revenue ever…

U.S. units of Chinese companies got bailout money…

Small businesses fight for survival…

Banks Ready for Wave of Defaults…

Inflation Spikes…

Banks make $18 billion in fees for processing PPP loans…