investmentwatchblog--2020-06-09--We’re in a very odd situation right now in terms of evaluating the state of the economy…

Editor ’ s Note : We keep hearing from the Fed ’ s defenders that the current spate of new stimulus and bailouts from the central bank are really not a big deal and are all very prudent and moderate .
I asked Senior Fellow Bob Murphy to provide some much needed perspective .
Ryan McMaken : We ’ re in a very odd situation right now in terms of evaluating the state of the economy .
We can see that there is rising unemployment , and there is likely to be a wave of missed mortgage and rent payments @ @ @ @ @ @ @ the government-mandated “ shutdowns ” or are there deeper economic issues here ?
Robert P. Murphy : In economics there are no controlled experiments , so partisans on a policy dispute can both continue to claim that the evidence is on their side .
That ’ s why Keynesians and Austrians still disagree about the “ lessons ” of the 1930s , or whether the Obama stimulus package created or destroyed jobs .
During the present economic crisis , I am firmly in the camp that it was not due merely to the @ @ @ @ @ @ @ ) coercive lockdowns that various governments instituted , ostensibly as a public health response .
I agree with Jeff Deist , who argued back in April that “ The supposed greatest economy in US history actually was a walking sick man , made comfortable with painkillers , and looking far better than he felt—yet ultimately fragile and infirm .
The coronavirus pandemic simply exposed the underlying sickness of the US economy .
If anything , the crash was overdue.
” What evidence can we marshal to support such a perspective ?
Well , @ @ @ @ @ @ @ my economic prognostications , but back in October 2007 I did write an article for Mises.org , worrying that the US could be in store for the worst recession in twenty-five years—this was almost a full year before the actual crash in the fall of 2008 .
And in that article I wasn ’ t throwing darts at a GDP chart ; instead I used Austrian business cycle theory to gauge the extent of Fed distortions in the financial system .
Now , if I then made a good prediction in real time @ @ @ @ @ @ @ s artificially low interest rates , that gives me confidence that the Fed ’ s post-2008 rounds of QE ( quantitative easing ) and seven full years of virtually zero percent interest rates quite clearly drove the booming stock market under Obama , yet set us up for a much bigger crash .
Even non-Austrians had enough information to know to worry .
Back in September of 2019 , I explained how the inverted yield curve signaled an impending recession for the summer of 2020—i.e.
, right now .
RM : As the @ @ @ @ @ @ @ lowered the target rate from 1.75 to 0.25 percent in a two-week period .
That ’ s a big drop .
What was the Fed trying to do when it did this , and can it achieve its goals ?
RPM : I think regular Americans would be shocked if they realized just how crude the basic models are that guide central banking policy .
I ’ m simplifying somewhat , but the official rationale was that a weak/panicked economy needs more spending in order to maintain employment , and the way you @ @ @ @ @ @ @ .
There ’ s also the notion that the markets want reassurance that the Fed is waiting to help , and so by taking a “ bold ” move quickly , the Fed could possibly nip a self-fulfilling prophecy in the bud .
Having said all of that , it ’ s possible that behind the scenes the real reason the Fed did what it did was that certain powerful players were caught with their pants down , and they needed cheap loans to salvage their positions .
I don ’ t think @ @ @ @ @ @ @ no , it won ’ t ( in the long run ) help the financial sector or the broader economy .
In the Austrian view , interest rates aren ’ t merely a gas pedal/brake for spending ; they help coordinate long-term plans made by consumers and businesses .
So if the Fed pushes interest rates below the correct market level corresponding to genuine saving decisions and the state of the economy , then it will foster an unsustainable structure of production .
This was Ludwig von Mises ’ s theory of the @ @ @ @ @ @ @ be appreciated by most other free market economists—let alone the Keynesians .
RM : Many commentators on the Fed ’ s stimulus packages have claimed that it ’ s not really that big a deal because the Fed is only exchanging liquidity for collateral , and Fed stimulus is mostly just loans that will be paid back anyway .
So is this just much ado about nothing ?
RPM : Back when the Fed ’ s “ extraordinary ” injections of liquidity started , I argued that this nonchalance was wrong .
Look @ @ @ @ @ @ @ check for my Nissan Sentra for $ 100,000 , then on the moment of sale my car would have a “ market value ” of $ 100,000 and the Fed would just be adding equal amounts to its assets and liabilities .
Yet that clearly would bail me out , even though it would appear to be a mere “ asset swap ” rather than a transfer payment .
Put it this way : If the Fed ’ s injections of “ liquidity ” don ’ t really help the fat cats in @ @ @ @ @ @ @ just cancel them and won ’ t affect anybody , right ?
RM : We seem to now be in a time of unprecedented fiscal and monetary stimulus .
In the past , there seemed to be some political and legal limits on what could be done in this regard .
Why do you think there are now almost no limits on what the Fed and Congress can get away with in terms of spending and bailouts ?
RPM : In an essay I wrote for a collection edited by David Howden and @ @ @ @ @ @ @ Bernanke was “ the FDR of central bankers.
” What I meant was the Bernanke took the economic crisis and used it as an opportunity to fundamentally expand what Americans perceived as the proper role of the Federal Reserve .
It wasn ’ t merely that Bernanke doubled the holdings of the Fed in mere months , but that the type of assets the Fed bought or lent against was greatly expanded .
To appreciate just how dubious these moves were , realize that the Fed back in 2008 created “ Maiden Lane @ @ @ @ @ @ @ that would get loans from the Fed , then go out and buy mortgage-backed securities ( MBS ) .
Since the Fed didn ’ t have the statutory authority to buy MBS , they could say , “ We ’ re not buying these forbidden assets , we ’ re just lending money to Maiden Lane LLC .
We have the ability to lend money to whichever institution we want .
Now if Maiden Lane LLC takes the money and goes and buys some mortgage-backed securities , that ’ s their business… ” @ @ @ @ @ @ @ s not just that Bernanke ’ s Fed did things that were bad policies .
They were also arguably illegal .
We see a similar phenomenon with Jay Powell and the coronavirus panic .
When people are scared they let the authorities get away with all sorts of nonsense .
The Fed got rid of reserve requirements in the last section of an addendum to the main press release of a surprise Sunday night meeting , and barely anybody even covered it .
Likewise with fiscal policy .
Apparently the folks who brought @ @ @ @ @ @ @ of having its price tag exceed $ 1 trillion , but that ’ s obviously not stopping anybody now .
The American people have been so desensitized to these gigantic numbers that nothing is shocking .
But for what it ’ s worth , the CBO ( Congressional Budget Office ) itself is now saying that federal debt held by the public—as a share of the economy—will break 101 percent by October .
I think the only thing that will reinstill a sense of discipline is if there is a tangible and immediate @ @ @ @ @ @ @ a Fed announcement of more asset purchases causes the dollar to fall 20 percent against other currencies , or if the projection of another $ 1 trillion deficit causes Treasury rates to spike , then maybe Americans will stop looking to Washington as a magic source of financing .

Bob Murphy and Ryan McMaken via Mises
Editor’s Note: We keep hearing from the Fed’s defenders that the current spate of new stimulus and bailouts from the central bank are really not a big deal and are all very prudent and moderate. I asked Senior Fellow Bob Murphy to provide some much needed perspective.
Ryan McMaken: We’re in a very odd situation right now in terms of evaluating the state of the economy. We can see that there is rising unemployment, and there is likely to be a wave of missed mortgage and rent payments. Is this all just due to the government-mandated “shutdowns” or are there deeper economic issues here?
Robert P. Murphy: In economics there are no controlled experiments, so partisans on a policy dispute can both continue to claim that the evidence is on their side. That’s why Keynesians and Austrians still disagree about the “lessons” of the 1930s, or whether the Obama stimulus package created or destroyed jobs.
During the present economic crisis, I am firmly in the camp that it was not due merely to the coronavirus or even to the (counterproductive) coercive lockdowns that various governments instituted, ostensibly as a public health response. I agree with Jeff Deist, who argued back in April that “The supposed greatest economy in US history actually was a walking sick man, made comfortable with painkillers, and looking far better than he felt—yet ultimately fragile and infirm. The coronavirus pandemic simply exposed the underlying sickness of the US economy. If anything, the crash was overdue.”
What evidence can we marshal to support such a perspective? Well, I have been far from flawless in my economic prognostications, but back in October 2007 I did write an article for Mises.org, worrying that the US could be in store for the worst recession in twenty-five years—this was almost a full year before the actual crash in the fall of 2008. And in that article I wasn’t throwing darts at a GDP chart; instead I used Austrian business cycle theory to gauge the extent of Fed distortions in the financial system.
Now, if I then made a good prediction in real time based on Austrian theory and Greenspan’s artificially low interest rates, that gives me confidence that the Fed’s post-2008 rounds of QE (quantitative easing) and seven full years of virtually zero percent interest rates quite clearly drove the booming stock market under Obama, yet set us up for a much bigger crash.
Even non-Austrians had enough information to know to worry. Back in September of 2019, I explained how the inverted yield curve signaled an impending recession for the summer of 2020—i.e., right now.
RM: As the crisis grew during March, the Fed lowered the target rate from 1.75 to 0.25 percent in a two-week period. That’s a big drop. What was the Fed trying to do when it did this, and can it achieve its goals?
RPM: I think regular Americans would be shocked if they realized just how crude the basic models are that guide central banking policy. I’m simplifying somewhat, but the official rationale was that a weak/panicked economy needs more spending in order to maintain employment, and the way you goose spending is to lower interest rates. There’s also the notion that the markets want reassurance that the Fed is waiting to help, and so by taking a “bold” move quickly, the Fed could possibly nip a self-fulfilling prophecy in the bud.
Having said all of that, it’s possible that behind the scenes the real reason the Fed did what it did was that certain powerful players were caught with their pants down, and they needed cheap loans to salvage their positions.
We are primarily funded by readers. Please subscribe and donate to support us!
I don’t think this was a wise move, and no, it won’t (in the long run) help the financial sector or the broader economy. In the Austrian view, interest rates aren’t merely a gas pedal/brake for spending; they help coordinate long-term plans made by consumers and businesses. So if the Fed pushes interest rates below the correct market level corresponding to genuine saving decisions and the state of the economy, then it will foster an unsustainable structure of production. This was Ludwig von Mises’s theory of the business cycle, which has yet to be appreciated by most other free market economists—let alone the Keynesians.
RM: Many commentators on the Fed’s stimulus packages have claimed that it’s not really that big a deal because the Fed is only exchanging liquidity for collateral, and Fed stimulus is mostly just loans that will be paid back anyway. So is this just much ado about nothing?
RPM: Back when the Fed’s “extraordinary” injections of liquidity started, I argued that this nonchalance was wrong. Look, if the Fed wrote me a check for my Nissan Sentra for $100,000, then on the moment of sale my car would have a “market value” of $100,000 and the Fed would just be adding equal amounts to its assets and liabilities. Yet that clearly would bail me out, even though it would appear to be a mere “asset swap” rather than a transfer payment.
Put it this way: If the Fed’s injections of “liquidity” don’t really help the fat cats in the financial sector, then we can just cancel them and won’t affect anybody, right?
RM: We seem to now be in a time of unprecedented fiscal and monetary stimulus. In the past, there seemed to be some political and legal limits on what could be done in this regard. Why do you think there are now almost no limits on what the Fed and Congress can get away with in terms of spending and bailouts?
RPM: In an essay I wrote for a collection edited by David Howden and Joe Salerno, I argued that Ben Bernanke was “the FDR of central bankers.” What I meant was the Bernanke took the economic crisis and used it as an opportunity to fundamentally expand what Americans perceived as the proper role of the Federal Reserve. It wasn’t merely that Bernanke doubled the holdings of the Fed in mere months, but that the type of assets the Fed bought or lent against was greatly expanded.
To appreciate just how dubious these moves were, realize that the Fed back in 2008 created “Maiden Lane” LLCs, which were intermediate companies that would get loans from the Fed, then go out and buy mortgage-backed securities (MBS). Since the Fed didn’t have the statutory authority to buy MBS, they could say, “We’re not buying these forbidden assets, we’re just lending money to Maiden Lane LLC. We have the ability to lend money to whichever institution we want. Now if Maiden Lane LLC takes the money and goes and buys some mortgage-backed securities, that’s their business…” So, to reiterate, it’s not just that Bernanke’s Fed did things that were bad policies. They were also arguably illegal.
We see a similar phenomenon with Jay Powell and the coronavirus panic. When people are scared they let the authorities get away with all sorts of nonsense. The Fed got rid of reserve requirements in the last section of an addendum to the main press release of a surprise Sunday night meeting, and barely anybody even covered it.
Likewise with fiscal policy. Apparently the folks who brought us the Obama stimulus package were afraid of having its price tag exceed $1 trillion, but that’s obviously not stopping anybody now. The American people have been so desensitized to these gigantic numbers that nothing is shocking. But for what it’s worth, the CBO (Congressional Budget Office) itself is now saying that federal debt held by the public—as a share of the economy—will break 101 percent by October.
I think the only thing that will reinstill a sense of discipline is if there is a tangible and immediate reaction to these crazy policies. If a Fed announcement of more asset purchases causes the dollar to fall 20 percent against other currencies, or if the projection of another $1 trillion deficit causes Treasury rates to spike, then maybe Americans will stop looking to Washington as a magic source of financing.


investmentwatchblog--2020-06-09--THE GREAT RESET IS HERE: PREPARE FOR THE NWO & ENSLAVEMENT

Some of us have tried everything we can to wake people up , and people are still falling for every single little move the system makes .
It ’ s time to prepare for what ’ s coming .
We are all owned by an elite few , and if they decide you will be allowed to live , you will do so as their slave and on their terms .
People love to hate the messenger when their own cognitive dissonance is threatened .
Whether you hate someone or not , at least do yourself the honor of researching @ @ @ @ @ @ @ and ignorance is exactly what those who are trying to maintain power want from you : blind compliance and enslavement .
Wake up .
Many admit they don ’ t want to live in the NWO and won ’ t “ submit ” to it , yet are doing exactly what the powers that be need them to do .
This is the beginning of the economic reset that will transfer wealth to all the elitists impoverishing the rest of us .
The martial law is to keep you from fighting back .
@ @ @ @ @ @ @ now .
People better wise up pretty quick , ” says Jeff Berwick .
The Greatest Depression is here , and it ’ s going to usher in the New World Order and allow for the global reset into a one-world currency .
How the state still has anyone backing it is all but beyond comprehension at this point .
We handed over all of our power to politicians and now people seem shocked that the government wants even more power to steal , harass , and enslave us .
If you want @ @ @ @ @ @ @ for us , go to the World Economic Forum ’ s plan by clicking here .
They have set off the New World Order and so many people fell for it .
We ’ ve been played .
This is not going to end well if you don ’ t wake up and realize what has been done to humanity and what they will be pushing for soon .
I don ’ t care if you hate me .
The shit has hit the fan and it ’ s going everywhere .
Stop @ @ @ @ @ @

by Mac Slavo of SHTFplan
Some of us have tried everything we can to wake people up, and people are still falling for every single little move the system makes. It’s time to prepare for what’s coming. We are all owned by an elite few, and if they decide you will be allowed to live, you will do so as their slave and on their terms.
We are primarily funded by readers. Please subscribe and donate to support us!
People love to hate the messenger when their own cognitive dissonance is threatened. Whether you hate someone or not, at least do yourself the honor of researching their message. Time is short, and ignorance is exactly what those who are trying to maintain power want from you: blind compliance and enslavement. Wake up.
Many admit they don’t want to live in the NWO and won’t “submit” to it, yet are doing exactly what the powers that be need them to do. This is the beginning of the economic reset that will transfer wealth to all the elitists impoverishing the rest of us. The martial law is to keep you from fighting back. “They’re coming for everybody now. People better wise up pretty quick,” says Jeff Berwick. The Greatest Depression is here, and it’s going to usher in the New World Order and allow for the global reset into a one-world currency.
How the state still has anyone backing it is all but beyond comprehension at this point. We handed over all of our power to politicians and now people seem shocked that the government wants even more power to steal, harass, and enslave us. If you want to see exactly what’s planned for us, go to the World Economic Forum’s plan by clicking here.
They have set off the New World Order and so many people fell for it. We’ve been played. This is not going to end well if you don’t wake up and realize what has been done to humanity and what they will be pushing for soon. I don’t care if you hate me. The shit has hit the fan and it’s going everywhere. Stop blindly obeying and wake up.


investmentwatchblog--2020-06-09--Investors Were Being Blocked from Fund Withdrawals Months Before the Pandemic

Wall Street On Parade has previously written that a financial crisis was already well under way before the first case of COVID-19 was reported anywhere in the world .
This should matter greatly to Americans because the Federal Reserve is attempting to blame the financial crisis on the virus to avoid Congressional investigations of its second epic failure in a dozen years at regulating the behemoth Wall Street banks .
America needs a comprehensive investigation of what really triggered this financial crisis in order to restructure the U.S. financial system away from a casino culture into one that doesn ’ @ @ @ @ @ @ @ government bailouts .
These bailouts are piling more and more debt on the shoulders of taxpayers and becoming a crushing drag on the U.S. economy , notwithstanding Fed Chairman Jerome Powell ’ s dismissive remark to Congress that we ’ ll worry about the debt later .
Today we ’ re expanding our financial crisis timeline to include pre-COVID-19 announcements of big job cuts at global banks ; mutual funds and hedge funds taking the desperate measure of locking out investors from access to their money ; and the massive sums investors were @ @ @ @ @ @ @ throughout 2019 — all prior to the first case of COVID-19 anywhere in the world .
According to the timeline at the World Health Organization , on December 31 , 2019 , China first reported a cluster of cases of pneumonia which were identified in early January to be the coronavirus now known as COVID-19 .
This is the timeline of events suggesting that a financial crisis was in the works months before December 31 , 2019 .
June 3 , 2019 : The highly-touted $ 4.7 billion Woodford Equity Income Fund in @ @ @ @ @ @ @ It had too many illiquid securities .
July 7 , 2019 : Deutsche Bank , the large German bank that is heavily intertwined via derivatives with the behemoth Wall Street banks , confirms it is slashing 18,000 jobs .
July 29 , 2019 : Bloomberg News runs this headline : “ Citi to Cut Hundreds of Trading Jobs in Bad Wall Street Omen.
” August 8 , 2019 : Reuters reported that the amount of foreign sovereign debt carrying negative yields had “ increased to an all-time peak of $ 13.2 trillion.
” @ @ @ @ @ @ @ from just a month earlier .
Large , rapid inflows into government bonds , which drives down the yield , signals a flight to safety from a financial storm .
August 14 , 2019 : The Wall Street Journal reported that “ Investors continued their run on bank stocks , sending shares of some of America ’ s biggest financial institutions sharply lower following the latest sign of trouble ahead for the U.S. economy.
” On this day , the Dow Jones Industrial Average plunges 800.49 points , or 3.05 percent but the @ @ @ @ @ @ @ Street banks , JPMorgan and Citigroup , significantly outpaced those losses .
JPMorgan Chase lost 4.15 percent on the day while Citigroup gave up 5.27 percent .
Also on this day , for the first time since the onset of the financial crisis in 2007 , the U.S. saw an inversion of the yield curve , with the 2-year Treasury note yielding more than the 10-year note .
An inverted yield curve is viewed by market veterans as a harbinger of an economic downturn .
Also on this date , the Financial Times @ @ @ @ @ @ @ the economic engine of Europe , had contracted in the second quarter and its annualized growth was now the slowest in six years .
August 30 , 2019 : Buenos Aires Times reports that more than a dozen “ Argentine mutual funds block redemptions as locals rush for exit.
” September 17 , 2019 : The New York Fed announces it is intervening in the repo loan market for the first time since the financial crisis of 2007-2010 .
The Fed says it will provide a maximum of $ 75 billion per day @ @ @ @ @ @ @ primary dealers ) with a cap of $ 40 billion going to any one firm .
( This large cap suggests the New York Fed knows that one or more specific firms are in trouble . )
There had been no news reports of coronavirus COVID-19 anywhere in the world at this point .
September 20 , 2019 : Three days after launching its daily $ 75 billion of overnight repo loans , the New York Fed announces that these will continue but it is also adding $ 30 billion in 14-day terms @ @ @ @ @ @ @ during the week of September 23 .
This is a clear indication that banks have backed away from lending to other financial institutions , just as happened in the financial crisis of 2007 to 2010 .
October 1 , 2019 : Reuters ’ David Henry reported the following : “ Publicly-filed data shows JPMorgan reduced the cash it has on deposit at the Federal Reserve , from which it might have lent , by $ 158 billion in the year through June , a 57 % decline.
” Why did JPMorgan need that @ @ @ @ @ @ @ at the Fed ?
October 4 , 2019 : the Fed announces that it will be offering an additional $ 310 billion in repo term loans to the trading houses on Wall Street as well as offering at least $ 75 billion daily in overnight loans .
October 11 , 2019 : The New York Fed announces that on top of its overnight and term repo operations , it will begin buying up $ 60 billion of U.S. Treasury bills monthly ( to add further liquidity to dampen the Wall Street crisis ) @ @ @ @ @ @ @ Asset Management , a top Korean hedge fund , freezes $ 710 million as investors try to make withdrawals .
October 23 , 2019 : The New York Fed announces that effective October 24 , it will increase its daily overnight repo loans from $ 75 billion to $ 120 billion – an increase of 60 percent – while 14-day term repos will also continue .
Clearly , there is a cash crunch on Wall Street that is getting worse , not better .
November 12 , 2019 : Wall Street On Parade @ @ @ @ @ @ @ FOIA ) request with the Federal Reserve seeking emails and correspondence related to why JPMorgan Chase needed to reduce its cash reserves at the Fed by $ 158 billion .
Wall Street On Parade does not receive a response to its FOIA request until March 11 , 2020 .
The response , under the law , should have come within 20 business days .
Instead , it came four months later with no explanation for the delay .
The Fed conceded that it had 223 pages of relevant documents but it was not @ @ @ @ @ @ @ Street On Parade .
December 4 , 2019 : The £2.5 billion ( $ 3.3 billion ) U.K. commercial real estate fund , M & G Property Portfolio gates ( lock outs ) investors from withdrawing their money .
Prudential ’ s property funds act quickly to do the same .
At the time of the gating , M & G Property Portfolio had seen outflows of 25 percent through the third quarter .
December 5 , 2019 : Bloomberg News reports that “ U.K .
real estate funds have suffered 14 successive @ @ @ @ @ @ @ 2019 : The Guardian reports that other property funds in the U.K. have seen a wave of redemptions and “ the core of the problem with property funds is their exposure to beleaguered assets in the retail sector , such as shopping centres and malls , where shops are going bankrupt and rents are falling.
” December 12 , 2019 : The New York Fed announces that it will add an extra $ 185 billion of liquidity over the turn of the year on top of the ongoing repo loans .
December 23 @ @ @ @ @ @ @ reports that “ Hedge-fund firms York Capital Management and Southpaw Asset Management are barring clients from getting back all of the money they have requested for year-end , a sign of the pressure that investors in distressed assets are facing.
” December 31 , 2019 : According to eVestment , there were massive outflows from hedge funds and mutual funds in 2019 .
Traditional asset managers reported outflows in 2019 of a negative $ 210.7 billion while hedge funds saw outflows of a negative $ 102.25 billion in 2019 .
January 27 , @ @ @ @ @ @ @ using the New York Fed ’ s own Excel spreadsheet data on its repo loans , publishes the finding that the New York Fed has pumped out a cumulative $ 6.6 trillion in super cheap loans to the trading houses of Wall Street with no explanation as to whether Wall Street banks are experiencing a funding , liquidity or insolvency crisis .
February 29 , 2020 : CNN reports first coronavirus COVID-19 death in the United States occurred one day earlier .

via wallstreetonparade
Wall Street On Parade has previously written that a financial crisis was already well under way before the first case of COVID-19 was reported anywhere in the world. This should matter greatly to Americans because the Federal Reserve is attempting to blame the financial crisis on the virus to avoid Congressional investigations of its second epic failure in a dozen years at regulating the behemoth Wall Street banks.
America needs a comprehensive investigation of what really triggered this financial crisis in order to restructure the U.S. financial system away from a casino culture into one that doesn’t regularly need massive Federal Reserve and government bailouts. These bailouts are piling more and more debt on the shoulders of taxpayers and becoming a crushing drag on the U.S. economy, notwithstanding Fed Chairman Jerome Powell’s dismissive remark to Congress that we’ll worry about the debt later.
Today we’re expanding our financial crisis timeline to include pre-COVID-19 announcements of big job cuts at global banks; mutual funds and hedge funds taking the desperate measure of locking out investors from access to their money; and the massive sums investors were pulling from mutual funds and hedge funds throughout 2019 — all prior to the first case of COVID-19 anywhere in the world.
According to the timeline at the World Health Organization, on December 31, 2019, China first reported a cluster of cases of pneumonia which were identified in early January to be the coronavirus now known as COVID-19. This is the timeline of events suggesting that a financial crisis was in the works months before December 31, 2019.
~~~
June 3, 2019: The highly-touted $4.7 billion Woodford Equity Income Fund in the U.K. froze withdrawals by investors. It had too many illiquid securities.
July 7, 2019: Deutsche Bank, the large German bank that is heavily intertwined via derivatives with the behemoth Wall Street banks, confirms it is slashing 18,000 jobs.
July 29, 2019: Bloomberg News runs this headline: “Citi to Cut Hundreds of Trading Jobs in Bad Wall Street Omen.”
August 8, 2019: Reuters reported that the amount of foreign sovereign debt carrying negative yields had “increased to an all-time peak of $13.2 trillion.” This was an increase of 13.4 percent from just a month earlier. Large, rapid inflows into government bonds, which drives down the yield, signals a flight to safety from a financial storm.
August 14, 2019: The Wall Street Journal reported that “Investors continued their run on bank stocks, sending shares of some of America’s biggest financial institutions sharply lower following the latest sign of trouble ahead for the U.S. economy.” On this day, the Dow Jones Industrial Average plunges 800.49 points, or 3.05 percent but the shares of two of the biggest Wall Street banks, JPMorgan and Citigroup, significantly outpaced those losses. JPMorgan Chase lost 4.15 percent on the day while Citigroup gave up 5.27 percent. Also on this day, for the first time since the onset of the financial crisis in 2007, the U.S. saw an inversion of the yield curve, with the 2-year Treasury note yielding more than the 10-year note. An inverted yield curve is viewed by market veterans as a harbinger of an economic downturn. Also on this date, the Financial Times reported that Germany’s economy, the economic engine of Europe, had contracted in the second quarter and its annualized growth was now the slowest in six years.
August 30, 2019: Buenos Aires Times reports that more than a dozen “Argentine mutual funds block redemptions as locals rush for exit.”
September 17, 2019: The New York Fed announces it is intervening in the repo loan market for the first time since the financial crisis of 2007-2010. The Fed says it will provide a maximum of $75 billion per day to 24 Wall Street trading houses (primary dealers) with a cap of $40 billion going to any one firm. (This large cap suggests the New York Fed knows that one or more specific firms are in trouble.) There had been no news reports of coronavirus COVID-19 anywhere in the world at this point.
September 20, 2019: Three days after launching its daily $75 billion of overnight repo loans, the New York Fed announces that these will continue but it is also adding $30 billion in 14-day terms loans that will be offered three times during the week of September 23. This is a clear indication that banks have backed away from lending to other financial institutions, just as happened in the financial crisis of 2007 to 2010.
October 1, 2019: Reuters’ David Henry reported the following: “Publicly-filed data shows JPMorgan reduced the cash it has on deposit at the Federal Reserve, from which it might have lent, by $158 billion in the year through June, a 57% decline.” Why did JPMorgan need that massive amount of money from its reserves at the Fed?
We are primarily funded by readers. Please subscribe and donate to support us!
October 4, 2019: the Fed announces that it will be offering an additional $310 billion in repo term loans to the trading houses on Wall Street as well as offering at least $75 billion daily in overnight loans.
October 11, 2019: The New York Fed announces that on top of its overnight and term repo operations, it will begin buying up $60 billion of U.S. Treasury bills monthly (to add further liquidity to dampen the Wall Street crisis).
October 14, 2019: Lime Asset Management, a top Korean hedge fund, freezes $710 million as investors try to make withdrawals.
October 23, 2019: The New York Fed announces that effective October 24, it will increase its daily overnight repo loans from $75 billion to $120 billion – an increase of 60 percent – while 14-day term repos will also continue. Clearly, there is a cash crunch on Wall Street that is getting worse, not better.
November 12, 2019: Wall Street On Parade files a Freedom of Information Act (FOIA) request with the Federal Reserve seeking emails and correspondence related to why JPMorgan Chase needed to reduce its cash reserves at the Fed by $158 billion. Wall Street On Parade does not receive a response to its FOIA request until March 11, 2020. The response, under the law, should have come within 20 business days. Instead, it came four months later with no explanation for the delay. The Fed conceded that it had 223 pages of relevant documents but it was not going to be sharing them with Wall Street On Parade.
December 4, 2019: The £2.5 billion ($3.3 billion) U.K. commercial real estate fund, M&G Property Portfolio gates (lock outs) investors from withdrawing their money. Prudential’s property funds act quickly to do the same. At the time of the gating, M&G Property Portfolio had seen outflows of 25 percent through the third quarter.
December 5, 2019: Bloomberg News reports that “U.K. real estate funds have suffered 14 successive months of outflows.”
December 9, 2019: CNN reports that Morgan Stanley is cutting 1500 jobs.
December 12, 2019: The Guardian reports that other property funds in the U.K. have seen a wave of redemptions and “the core of the problem with property funds is their exposure to beleaguered assets in the retail sector, such as shopping centres and malls, where shops are going bankrupt and rents are falling.”
December 12, 2019: The New York Fed announces that it will add an extra $185 billion of liquidity over the turn of the year on top of the ongoing repo loans.
December 23, 2019: The Wall Street Journal reports that “Hedge-fund firms York Capital Management and Southpaw Asset Management are barring clients from getting back all of the money they have requested for year-end, a sign of the pressure that investors in distressed assets are facing.”
December 31, 2019: According to eVestment, there were massive outflows from hedge funds and mutual funds in 2019. Traditional asset managers reported outflows in 2019 of a negative $210.7 billion while hedge funds saw outflows of a negative $102.25 billion in 2019.
January 27, 2020: Wall Street On Parade, using the New York Fed’s own Excel spreadsheet data on its repo loans, publishes the finding that the New York Fed has pumped out a cumulative $6.6 trillion in super cheap loans to the trading houses of Wall Street with no explanation as to whether Wall Street banks are experiencing a funding, liquidity or insolvency crisis.
February 29, 2020: CNN reports first coronavirus COVID-19 death in the United States occurred one day earlier.


investmentwatchblog--2020-06-09--The Euro area has an inflation problem that the ECB ignores

Yesterday brought us up to date with the thoughts of ECB President Christine Lagarde as she gave evidence to the European Parliament , and grim reading and listening it made .
The numbers for 2021 and 22 are pure fantasy of course an area where President Lagarde has quite a track record after her claims about Greece and Argentina .
But the fundamental polnt here is of a large and in many ways unprecedented fall in this quarter .
We have received some hints this morning via the April trade figures for the Euro areas largest economy Germany .
In @ @ @ @ @ @ @ trade is hit harder than economic output or GDP and the impact was severe .
This meant that the German trade surplus which is essentially the Euro area one faded quite a bit .
In itself that is far from a crisis as both Germany and the Euro area have had plenty of surpluses in this area .
But it will be a subtraction to GDP although some will be found elsewhere .
So for the first 2 countries the falls will be gains although of course they will have their own losses @ @ @ @ @ @ @ on the economy although we need the caveat that these compete with retail sales to be the least reliable numbers we have .
If we return to President Lagarde there was also this .
There are serious problems with inflation measurement right now and let me explain them .
This is clearly an issue when expenditure patterns have changed so much .
This is illustrated by the area highlighted by President Lagarde oil prices as we note automotive fuel demand was down 46.9 % on a year ago .
So she is being @ @ @ @ @ @ @ asked about imputed rent well it has plenty of company right now .
So if you can not get a price you make it up .
You really could not er make it up….. Also online quotes are used if necessary .
That reflects reality but there is a catch as the prices are likely to be lower than store prices in more than a few cases .
What you might think are minor issues can turn into big ones as we saw last year from a rethink of the state of play @ @ @ @ @ @ @ it did change the overall number for the Euro area which is I suppose a case f the mouse scaring and moving the elephant .
This really matters when we are told this .
So we got this in response to a number which is dodgy to say the least .
In context there is also this from Peter Schiff which raises a wry smile .
George Orwell must wish he had put that in 1984 , although to be fair his themes were spot on .
He would have enjoyed how Christine @ @ @ @ @ @ @ worse off .
Let ’ s face it even the ( wo ) man on Mars will probably be aware that these days wages do not necessarily grow faster than prices .
Let me now spin around to the real game in town for central bankers which is financial markets .
Once they had helped the banks by letting them benefit from a -1 % interest-rate which of course will in the end be paid by everyone else then boosting asset markets is the next game in town .
I have already mentioned @ @ @ @ @ @ @ governments borrow more cheaply with the 1.35 trillion .
As a former finance minister Christine Lagarde can look forwards to being warmly welcomed at meetings with present finance ministers .
After all Germany is being paid to borrow and even Italy only has a ten-year yield of 1.42 % in spite of having debt metrics which are beginning to spiral .
Next comes equity markets where the Euro Stoxx 50 index was at one point yesterday some 1000 points higher than the 2386 of the 19th of March .
The link from all @ @ @ @ @ @ @ for example bonds providing less ( and in many cases negative income ) make dividends from shares more attractive .
As an aside this poses all sorts of risks from pensions investing in wrong areas .
But my main drive is that central banks can push asset prices higher but the problem is that the asset rich benefit but for everyone else there is them inflation .
The inflation is conveniently ignored as those responsible for putting housing inflation in the numbers have been on a 20 year holiday .
As even the @ @ @ @ @ @ @ third of consumer spending you can see again how the numbers are misleading .
Or to put it another way how the ordinary person is made worse off whilst the better off gain .

by Shaun Richards
Yesterday brought us up to date with the thoughts of ECB President Christine Lagarde as she gave evidence to the European Parliament, and grim reading and listening it made.
After a contraction in GDP of 3.8% in the first quarter of the year, our new staff projections see it shrinking by 13% in the second quarter. Despite being expected to bounce back later in the year and recover some of its lost ground, euro area real GDP is now projected to fall by 8.7% over the whole of 2020, followed by growth of 5.2% in 2021 and 3.3% in 2022.
The numbers for 2021 and 22 are pure fantasy of course an area where President Lagarde has quite a track record after her claims about Greece and Argentina. But the fundamental polnt here is of a large and in many ways unprecedented fall in this quarter.
Germany
We have received some hints this morning via the April trade figures for the Euro areas largest economy Germany.
WIESBADEN – Germany exported goods to the value of 75.7 billion euros and imported goods to the value of 72.2 billion euros in April 2020. Based on provisional data, the Federal Statistical Office (Destatis) also reports that exports decreased by 31.1% and imports by 21.6% in April 2020 year on year.
In a pandemic it is no surprise that trade is hit harder than economic output or GDP and the impact was severe.
That was the largest decline of exports in a month compared with the same month a year earlier since the introduction of foreign trade statistics in 1950. The last time German imports went down that much was in July 2009 during the financial crisis (-23.6%).
This meant that the German trade surplus which is essentially the Euro area one faded quite a bit.
The foreign trade balance showed a surplus of 3.5 billion euros in April 2020. That was the lowest export surplus shown for Germany since December 2000 (+1.7 billion euros). In April 2019, the surplus was 17.8 billion euros. In calendar and seasonally adjusted terms, the foreign trade balance recorded a surplus of 3.2 billion euros in April 2020.
In itself that is far from a crisis as both Germany and the Euro area have had plenty of surpluses in this area. But it will be a subtraction to GDP although some will be found elsewhere.
exports to the countries hit particularly hard by the corona virus pandemic dropped sharply from April 2019: France (-48.3%), Italy (-40.1%) and the United States (-35.8%).
So for the first 2 countries the falls will be gains although of course they will have their own losses.
There was a considerable decline in German imports from France (-37.3% to 3.5 billion euros) and Italy (-32.5% to 3.2 billion euros).
So we have a sharp impact on the economy although we need the caveat that these compete with retail sales to be the least reliable numbers we have.
Inflation
If we return to President Lagarde there was also this.
The sharp drop in economic activity is also leaving its mark on euro area inflation. Year-on-year HICP inflation declined further to 0.1% in May, mainly due to falling oil prices. Looking ahead, the inflation outlook has been revised downwards substantially over the entire projection horizon. In the baseline scenario, inflation is projected to average 0.3% in 2020, before rising slightly to 0.8% in 2021, and further to 1.3% in 2022.
There are serious problems with inflation measurement right now and let me explain them.
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The HICP sub-indices are aggregated using weights reflecting the household consumption expenditure patterns of the previous year.
This is clearly an issue when expenditure patterns have changed so much. This is illustrated by the area highlighted by President Lagarde oil prices as we note automotive fuel demand was down 46.9% on a year ago. So she is being very misleading. Also I am regularly asked about imputed rent well it has plenty of company right now.
The second principle means that all sub-indices for the full ECOICOP structure will be compiled even when for some categories no products are available on the market. In such cases prices do not exist and they should be replaced with imputed prices.
So if you cannot get a price you make it up. You really could not er make it up…..
Also online quotes are used if necessary. That reflects reality but there is a catch as the prices are likely to be lower than store prices in more than a few cases.
What you might think are minor issues can turn into big ones as we saw last year from a rethink of the state of play concerning package holidays in Germany.
In the following years, the impact of the revision is smaller, between -0.2 and +0.3 p.p. Consequently, the euro area all-items annual rates are revised between 0.0 and +0.3 p.p. in 2015 and between -0.1 and +0.1 p.p. after.
Yes it did change the overall number for the Euro area which is I suppose a case f the mouse scaring and moving the elephant. This really matters when we are told this.
the deteriorating inflation outlook threatening our medium-term price stability objective.
So we got this in response to a number which is dodgy to say the least.
The Governing Council last Thursday decided to increase the amount of the pandemic emergency purchase programme (PEPP) by an additional €600 billion to a total of €1,350 billion, to extend the net purchase horizon until at least the end of June 2021, and to reinvest maturing assets acquired under the programme until at least the end of 2022.
In context there is also this from Peter Schiff which raises a wry smile.
ECB Pres. Christine Lagarde claims that emergency action is necessary to protect Europeans from a mere 1.3% rise in their cost of living in the year 2022. Lagarde said such a small rise is inconsistent with the ECB’s goal of price stability. Prices must rise more to be stable.
George Orwell must wish he had put that in 1984, although to be fair his themes were spot on. He would have enjoyed how Christine Lagarde sets as her objective making people worse off.
The ECB measures will continue to be crucial in supporting the return of inflation towards our medium-term inflation aim after the worst of the crisis has passed and the euro area economy begins its journey to economic recovery.
Let’s face it even the (wo)man on Mars will probably be aware that these days wages do not necessarily grow faster than prices.
Comment
Let me now spin around to the real game in town for central bankers which is financial markets. Once they had helped the banks by letting them benefit from a -1% interest-rate which of course will in the end be paid by everyone else then boosting asset markets is the next game in town. I have already mentioned the large sums being invested to help governments borrow more cheaply with the 1.35 trillion. As a former finance minister Christine Lagarde can look forwards to being warmly welcomed at meetings with present finance ministers. After all Germany is being paid to borrow and even Italy only has a ten-year yield of 1.42% in spite of having debt metrics which are beginning to spiral.
Next comes equity markets where the Euro Stoxx 50 index was at one point yesterday some 1000 points higher than the 2386 of the 19th of March. The link from all the QE is of portfolio shifts as for example bonds providing less ( and in many cases negative income) make dividends from shares more attractive. As an aside this poses all sorts of risks from pensions investing in wrong areas.
But my main drive is that central banks can push asset prices higher but the problem is that the asset rich benefit but for everyone else there is them inflation. The inflation is conveniently ignored as those responsible for putting housing inflation in the numbers have been on a 20 year holiday. As even the ECB confesses that sector makes up a third of consumer spending you can see again how the numbers are misleading. Or to put it another way how the ordinary person is made worse off whilst the better off gain.


investmentwatchblog--2020-06-09--Suspect accused of killing retired police captain once got 7-year prison sentence but didn’t serve O

Suspect accused of killing retired police captain once got 7-year prison sentence but didn’t serve ONE day

The man charged with the murder of retired St. Louis police Captain David Dorn was previously convicted in St. Louis @ @ @ @ @ served a day in prison .

The man charged with the murder of retired St. Louis police Captain David Dorn was previously convicted in St. Louis County in 2014 but never served a day in prison.
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investmentwatchblog--2020-06-09--Robinhood traders cash in on the market comeback that billionaire investors missed. Small trader cal

Robinhood traders cash in on the market comeback that billionaire investors missed. Small trader call buying made up more than 50% of total volume last week, the highest since 2000.

[ CNBC ] Robinhood traders cash in on the market comeback that billionaire investors missed .
One Chicago-resident flipped his sister ’ s stimulus check into nearly $ 10,000 .
One 26-year-old Robinhood trader made $ 1,500 in less than 24 hours betting on a beaten-down airline stock , while many so-called experts on Wall Street warned about buying into an overvalued stock market that was bound to tumble again amid the coronavirus pandemic .
Last Thursday , Lequon Godbolt , purchased a call option for American Airlines that made him $ 200 on the millennial-favored stock trading app .
@ @ @ @ @ @ @ increasing domestic flying for summer travel , Godbolt bought another call option minutes before the close .
When the market opened higher last Friday after a surprisingly positive jobs report , Godbolt raked in his profits .
“ I just started taking it seriously about two months ago , ” Godbolt — a New York resident— told CNBC .
“ I ’ ve been watching AAL since the beginning of that time and I felt eventually , once Covid relaxed , markets would move up.
” Godbolt is not alone is his success @ @ @ @ @ @ @ his sister ’ s stimulus check into nearly $ 10,000 .
Robinhood traders lived up to their outlaw name during the coronavirus market downturn .
The young investors booked profits — trading stocks with some of the best returns in the past two months — while other Wall Street veterans were left scratching their heads .
“ There ’ s nothing like momentum begetting momentum , ” Tim Welsh , founder and CEO of wealth management consulting firm Nexus Strategy , told CNBC .
“ The aspect of just access is really driving @ @ @ @ @ @ @ upward tick in the markets , again , just fuels demand.
” Young investors , like Godbolt , appeared to have a prescient understanding of the market , unlike the billionaire hedge fund managers who said stocks would retest their lows .
Longtime investor Stanley Druckenmiller — who misjudged equities ’ comeback — said Monday that the market ’ s strong performance over the last three weeks has “ humbled ” him and that he underestimated the power of the Federal Reserve .

[CNBC] Robinhood traders cash in on the market comeback that billionaire investors missed. One Chicago-resident flipped his sister’s stimulus check into nearly $10,000.
One 26-year-old Robinhood trader made $1,500 in less than 24 hours betting on a beaten-down airline stock, while many so-called experts on Wall Street warned about buying into an overvalued stock market that was bound to tumble again amid the coronavirus pandemic.
Last Thursday, Lequon Godbolt, purchased a call option for American Airlines that made him $200 on the millennial-favored stock trading app.
After seeing reports that the airline was increasing domestic flying for summer travel, Godbolt bought another call option minutes before the close. When the market opened higher last Friday after a surprisingly positive jobs report, Godbolt raked in his profits.
“I just started taking it seriously about two months ago,” Godbolt — a New York resident— told CNBC. “I’ve been watching AAL since the beginning of that time and I felt eventually, once Covid relaxed, markets would move up.”
Godbolt is not alone is his success trading this market. One Chicago-resident flipped his sister’s stimulus check into nearly $10,000.
Robinhood traders lived up to their outlaw name during the coronavirus market downturn. The young investors booked profits — trading stocks with some of the best returns in the past two months — while other Wall Street veterans were left scratching their heads.
“There’s nothing like momentum begetting momentum,” Tim Welsh, founder and CEO of wealth management consulting firm Nexus Strategy, told CNBC. “The aspect of just access is really driving a lot of this and the whole upward tick in the markets, again, just fuels demand.”
Young investors, like Godbolt, appeared to have a prescient understanding of the market, unlike the billionaire hedge fund managers who said stocks would retest their lows. Longtime investor Stanley Druckenmiller — who misjudged equities’ comeback — said Monday that the market’s strong performance over the last three weeks has “humbled” him and that he underestimated the power of the Federal Reserve.


investmentwatchblog--2020-06-09--Banks Peaking As They Kiss 7-Year Resistance?

If Banks peak here would they send a caution message to the stock rally over the past couple of months ?
Yes !
This chart looks at the Bank Index ( BKX ) on a weekly basis since the summer of 2012 .
Since the lows in July of 2012 , the index has spent the majority of the time inside of bullish rising channel ( 1 ) .
The Bank index has been weaker than the broad market since January of 2018 , where it attempted a breakout of its rising channel .
Earlier this year banks broke below @ @ @ @ @ @ @ sent the first bearish message from banks in 7-years .
Banks hit 2016 support in March and a strong counter-trend rally has taken place .
The recent rally has the index kissing the underside of the rising channel at ( 2 ) .
At the same time , the index is testing old support as new resistance for the first time in years , it is also testing its 61 % Fibonacci retracement level of the large decline this year at ( 2 ) .
The 91 level at this time comes into @ @ @ @ @ @ @ .
If banks would start turning lower and experience selling pressure at this resistance zone , they would send a concerning price message to the broad market .
Stock bulls would receive a quality bullish message from banks if the index succeeds in breaking above the resistance zone at 93 .
Keep a close eye on what the bank index does here friends , as it could send a very important message to the broad markets .

by Kimble Charting
If Banks peak here would they send a caution message to the stock rally over the past couple of months? Yes!
This chart looks at the Bank Index (BKX) on a weekly basis since the summer of 2012. Since the lows in July of 2012, the index has spent the majority of the time inside of bullish rising channel (1).
The Bank index has been weaker than the broad market since January of 2018, where it attempted a breakout of its rising channel. Earlier this year banks broke below rising channel (1), which sent the first bearish message from banks in 7-years.
Banks hit 2016 support in March and a strong counter-trend rally has taken place. The recent rally has the index kissing the underside of the rising channel at (2).
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At the same time, the index is testing old support as new resistance for the first time in years, it is also testing its 61% Fibonacci retracement level of the large decline this year at (2).
The 91 level at this time comes into play as resistance for the bank index. If banks would start turning lower and experience selling pressure at this resistance zone, they would send a concerning price message to the broad market.
Stock bulls would receive a quality bullish message from banks if the index succeeds in breaking above the resistance zone at 93.
Keep a close eye on what the bank index does here friends, as it could send a very important message to the broad markets.


investmentwatchblog--2020-06-09--“No choice” but to “go crazy” and loot? Toronto BLM protest

Che Guevara was “ for the people ” : Rebel News visits the dueling protests at Queen ’ s Park @ @ @

Che Guevara was “for the people”: Rebel News visits the dueling protests at Queen’s Park, Toronto.
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investmentwatchblog--2020-06-09--WWE Star: “Law Enforcement Saved My Life”

Titus O ’ Neil appears with community leaders and speaks in an effort to save his hometown of Tampa .
@ @ @ @ @ a pre-teen mother .
He claims that he would have been lost if it wasn @ @ @ @ @ run by law enforcement agencies which helped him formulate goals and priorities which he wasn @ @ @ @ @ male role models in his life .

Titus O’Neil appears with community leaders and speaks in an effort to save his hometown of Tampa.
This man was born to a pre-teen mother. He claims that he would have been lost if it wasn’t for youth programs run by law enforcement agencies which helped him formulate goals and priorities which he wasn’t getting without positive male role models in his life.
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h/t BadProgBad


investmentwatchblog--2020-06-09--I CANT TAKE IT ANYMORE Glen Beck

I CANT TAKE IT ANYMORE Glen Beck

The best video on my feelings and most Americans .
This needs to go viral

The best video on my feelings and most Americans.
This needs to go viral
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h/t Force King


investmentwatchblog--2020-06-09--George Floyd resisting arrest footage—it says ‘missing footage’…apparently it’s rare. Get it before

George Floyd resisting arrest footage—it says ‘missing footage’…apparently it’s rare. Get it before it’s gone

They will eventually delete this .
Does it look like what we ’ ve already seen or is this new @

They will eventually delete this.
Does it look like what we’ve already seen or is this new?
We are primarily funded by readers. Please subscribe and donate to support us!
Is he resisting?


investmentwatchblog--2020-06-09--This woman is very upset she can’t loot a mobile phone store being protected by armed owners.

“ Dey ready to keeel me over they cheap ass shit from China , yeah….
” “ This muthafucka standing @ @ @ @ @ whole muthafucking AK-47 !
”

“Dey ready to keeel me over they cheap ass shit from China, yeah….”
“This muthafucka standing on the roof with a whole muthafucking AK-47!”
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This woman is very upset she can’t loot a mobile phone store being protected by armed owners. pic.twitter.com/jQXY1sqKSS — Mark Dice (@MarkDice) June 9, 2020
h/t BFD


investmentwatchblog--2020-06-09--“Criminal referrals have already been sent to the Justice Department and the overall number may reac

“Criminal referrals have already been sent to the Justice Department and the overall number may reach as many as 16-17 by the end of next week.

Criminal referrals have already been sent to the Justice Department and the overall number may reach as many as 16-17 @ @ @ @ @ week .
Investigators are working on additional ones as we speak and some are targeting @ @ @ @ @ @ GenFlynn investigated .
This isn ’ t about politics .
Durham ’ s investigation @ @ @ @ @ is respected .
It ’ s an intense time and getting it right is the @ @ @ @ @ told they have a lot .
We will see .

Adam Housley
@adamhousley
Emmy winning former Senior news Correspondent
Criminal referrals have already been sent to the Justice
Department and the overall number may reach as many as 16-17
by the end of next week. Investigators are working on
additional ones as we speak and some are targeting the
Mueller probe and how @GenFlynn investigated.
Criminal referrals have already been sent to the Justice Department and the overall number may reach as many as 16-17 by the end of next week. Investigators are working on additional ones as we speak and some are targeting the Mueller probe and how @GenFlynn investigated. — Adam Housley (@adamhousley) June 8, 2020
Adam Housley
@adamhousley
Emmy winning former Senior news Correspondent
We are primarily funded by readers. Please subscribe and donate to support us!
This isn’t about politics. Durham’s investigation is about
truth and he is respected. It’s an intense time and getting
it right is the necessity. I’m told they have a lot. We will
see.
This isn't about politics. Durham's investigation is about truth and he is respected. It's an intense time and getting it right is the necessity. I'm told they have a lot. We will see. — Adam Housley (@adamhousley) June 8, 2020
h/t dr0id


investmentwatchblog--2020-06-09--A police officer is eighteen and a half times more likely to be killed by a black male than an unarm

A police officer is eighteen and a half times more likely to be killed by a black male than an unarmed black male is to be killed by police.

Did you know ?
A police officer is eighteen and a half times more likely to be killed by a @ @ @ @ @ black male is to be killed by a police officer .
pic.twitter.com/ISxVohrEkX

Did you know?
A police officer is eighteen and a half times more likely to be killed by a black male than an unarmed black male is to be killed by a police officer. pic.twitter.com/ISxVohrEkX
— PragerU (@prageru) June 9, 2020


investmentwatchblog--2020-06-09--REMINDER: Active Recall Petitions in Minnesota, Michigan – Coming Soon in California – Do your part

REMINDER: Active Recall Petitions in Minnesota, Michigan – Coming Soon in California – Do your part to remove these governors who are abusing their power

These are real recall petitions going through the proper channels to recall the governors in these states .
Don ’ @ @ @ @ @ petitions you may have signed which will not lead to an actual recall .
Please @ @ @ @ @ you live in the relevant state ) , volunteer , donate , and most of @ @ @ @ @ WORD * .
The Process Has Begun To Recall Governor Walz From Office The California @ @ @ @ @ yet .
Stay tuned .

by uvontheterrible
These are real recall petitions going through the proper channels to recall the governors in these states.
Don’t confuse these with online petitions you may have signed which will not lead to an actual recall.
Please sign the petitions (if you live in the relevant state), volunteer, donate, and most of all, * SPREAD THE WORD *.
.
Minnesota Recall Page
The Process Has Begun To Recall Governor Walz From Office
.
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Michigan Recall Page
Board OKs Whitmer recall petition language; signature gathering to start July 1
.
California Recall Page
The California recall has not been approved yet. Stay tuned.
.
Oregon Recall Page
Oregon Republicans launch second recall of ‘disastrous’ Democratic Gov. Kate Brown


investmentwatchblog--2020-06-09--This explains why Robin hood traders are crazy. YOLO for life

Robinhood traders have become the new hedge fund managers .
the power of a phone and an app .

by TheSeekingEye
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Robinhood traders have become the new hedge fund managers. the power of a phone and an app.


investmentwatchblog--2020-06-09--Is this what a bubble looks like?

Is this what a bubble looks like?

I ’ m hoping to generate some discussion on if we ’ re in a bubble , and what kind of data we can look at to help us reach a consensus .
“ An asset bubble occurs when the price of a financial asset or commodity rises to levels that are well above either historical norms , the asset ’ s intrinsic value , or both.
” Now , the P/E ratio of SPY is currently around 27 according to WSJ here .
That ’ s extremely rich , but it ’ s not entirely accurate .
Earnings reports @ @ @ @ @ @ @ we have Q2 reports showing the full impact of COVID , the market is arguably overvalued .
I looked around today and saw something I ’ ve never seen in my nearly 10 years in the market ( I know I ’ ve still got lots to learn ) .
Hertz , a company on the verge of bankruptcy , went up over 100 % today .
ZM and NKLA are two more examples of stocks that have P/E ’ s in the thousands , and from the trading activity , it looks @ @ @ @ @ @ @ me .
So is this what a stock market bubble looks like ?

by LuxGang
I’m hoping to generate some discussion on if we’re in a bubble, and what kind of data we can look at to help us reach a consensus.
From Investopedia:
“An asset bubble occurs when the price of a financial asset or commodity rises to levels that are well above either historical norms, the asset’s intrinsic value, or both.”
We are primarily funded by readers. Please subscribe and donate to support us!
Now, the P/E ratio of SPY is currently around 27 according to WSJ here. That’s extremely rich, but it’s not entirely accurate. Earnings reports are backward looking, so even before we have Q2 reports showing the full impact of COVID, the market is arguably overvalued.
I looked around today and saw something I’ve never seen in my nearly 10 years in the market (I know I’ve still got lots to learn). Hertz, a company on the verge of bankruptcy, went up over 100% today.
ZM and NKLA are two more examples of stocks that have P/E’s in the thousands, and from the trading activity, it looks like a game of greater fool to me.
So is this what a stock market bubble looks like?


investmentwatchblog--2020-06-09--The stock market is at unsustainable technical extremes. Never mind the abysmal fundamentals.

The stock market is at unsustainable technical extremes .
The narrative for markets `` has been win-win , ” Allianz @ @ @ @ @ .
“ That narrative is so deeply embedded now that it takes a major shock @ @ @ @ @ pic.twitter.com/MhfItST84D the Fed just agreed to buy 95 % of loans made to risky companies @ @ @ @ @ Ebitda ( adjusted ofc ) ) companies now do n't have to fully pay back @ @ @ @ @ – used to be 4 years ( friendly reminder that state & local govts only @ @ @ @ @

Never mind the abysmal fundamentals. pic.twitter.com/a4OyuoXNmr
The stock market is at unsustainable technical extremes.
Hertz and JC Penney rallying after bankruptcy. pic.twitter.com/ON7pl7ZbAR
The narrative for markets "has been win-win,” Allianz’s @elerianm says. “That narrative is so deeply embedded now that it takes a major shock to change it.” t.co/ZWc2QFyJmw pic.twitter.com/MhfItST84D
the Fed just agreed to buy 95% of loans made to risky companies (w debt at 6x Ebitda (adjusted ofc))
companies now don't have to fully pay back those loans for 5 years – used to be 4 years
(friendly reminder that state & local govts only get 3 years)t.co/ClBCxkb0Ni
— Alexandra Scaggs (@alexandrascaggs) June 8, 2020


investmentwatchblog--2020-06-09--China Daily, the propaganda outlet, paid WaPo more than $4.6 million and WSJ nearly $6 million to pu

China Daily, the propaganda outlet, paid WaPo more than $4.6 million and WSJ nearly $6 million to publish propaganda inserts since Nov. 2016.

One of China ’ s main propaganda outlets has paid American newspapers nearly $ 19 million for advertising and printing @ @ @ @ @ years , according to documents filed with the Justice Department .
China Daily , an @ @ @ @ @ Chinese Communist Party , has paid more than $ 4.6 million to The Washington Post @ @ @ @ @ to The Wall Street Journal since November 2016 , the records show .
China Daily @ @ @ @ @ several other newspapers : The New York Times ( $ 50,000 ) , Foreign Policy @ @ @ @ @ The Des Moines Register ( $ 34,600 ) and CQ-Roll Call ( $ 76,000 ) @ @ @ @ @ of $ 11,002,628 on advertising in U.S. newspapers , and another $ 265,822 on advertising @ @ @

One of China’s main propaganda outlets has paid American newspapers nearly $19 million for advertising and printing expenses over the past four years, according to documents filed with the Justice Department.
China Daily, an English-language newspaper controlled by the Chinese Communist Party, has paid more than $4.6 million to The Washington Post and nearly $6 million to The Wall Street Journal since November 2016, the records show.
China Daily also paid for advertising in several other newspapers: The New York Times ($50,000), Foreign Policy ($240,000), The Des Moines Register ($34,600) and CQ-Roll Call ($76,000).
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It spent a total of $11,002,628 on advertising in U.S. newspapers, and another $265,822 on advertising with Twitter.
dailycaller.com/2020/06/08/chinese-propaganda-china-daily-washington-post/


investmentwatchblog--2020-06-09--CHINA Threatens Australia AGAIN

CHINA Threatens Australia AGAIN

China ’ s education ministry has warned Chinese students to consider whether to study in Australia , amid escalating tensions @ @ @ @ @ The Ministry warned that there have been multiple cases of racial incidents targeting Asians in @ @ @ @ @ .
“ Multiple discriminatory events against Asians happened in Australia during the epidemic outbreak , @ @ @ @ @ a statement published to its website today .
It urged students studying overseas to make @ @ @ @ @ to be “ cautious ” when choosing Australia as a destination .
The warning follows @ @ @ @ @ warning to Australia for Chinese tourists on Friday .
A spokeswoman for China ’ s @ @ @ @ @ Chunying , defended the call at a press conference yesterday , accusing Australian politicians of @ @ @ @ @ ” .
“ For example , some Australian politicians and media called the coronavirus a @ @ @ @ @ maliciously tampered with the Chinese national flag and national emblem , ” she is quoted @ @ @ @ @ The Global Times .

China’s education ministry has warned Chinese students to consider whether to study in Australia, amid escalating tensions between Beijing and Canberra.
The Ministry warned that there have been multiple cases of racial incidents targeting Asians in Australia amid the COVID-19 epidemic.
“Multiple discriminatory events against Asians happened in Australia during the epidemic outbreak,” the Ministry said in a statement published to its website today.
It urged students studying overseas to make a thorough risk assessment and to be “cautious” when choosing Australia as a destination.
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The warning follows the issuing of a travel warning to Australia for Chinese tourists on Friday.
A spokeswoman for China’s minister of culture, Hua Chunying, defended the call at a press conference yesterday, accusing Australian politicians of “ignoring rampant racist abuse”.
“For example, some Australian politicians and media called the coronavirus a ‘Chinese virus’ and maliciously tampered with the Chinese national flag and national emblem,” she is quoted as saying in government-controlled publication The Global Times.
www.news.com.au/finance/economy/australian-economy/china-tells-students-to-avoid-studying-in-australia/news-story/f2bda13bb8ea715a1277fb13a2184b3a


investmentwatchblog--2020-06-09--LONDON Mayor KHAN wants to TAKE DOWN NELSONS COLUMN, remove statues, rename streets to reflect diver

LONDON Mayor KHAN wants to TAKE DOWN NELSONS COLUMN, remove statues, rename streets to reflect diversity

London ’ s landmarks will be reviewed to ensure they reflect the capital ’ s diversity after protesters tore down @ @ @ @ @ Edward Colston in Bristol .
Mayor Sadiq Khan ’ s office said London is “ @ @ @ @ @ cities in the world ” , but recent Black Lives Matter protests have highlighted that @ @ @ @ @ , plaques and street names largely reflect Victorian Britain .
The Commission for Diversity in @ @ @ @ @ the city ’ s landmarks – including murals , street art , street names , @ @ @ @ @ and consider which legacies should be celebrated before making recommendations .

London’s landmarks will be reviewed to ensure they reflect the capital’s diversity after protesters tore down a statue of slave trader Edward Colston in Bristol.
Mayor Sadiq Khan’s office said London is “one of the most diverse cities in the world”, but recent Black Lives Matter protests have highlighted that the city’s statues, plaques and street names largely reflect Victorian Britain.
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The Commission for Diversity in the Public Realm will review the city’s landmarks – including murals, street art, street names, statues and other memorials – and consider which legacies should be celebrated before making recommendations.
www.stalbansreview.co.uk/news/national/18504706.khan-forms-diversity-commission-review-london-landmarks-amid-racism-protests/


investmentwatchblog--2020-06-09--People Found Admitting Out Loud To Looting, Selling Stolen Goods On Facebook

CHICAGO ( CBS ) — Selling looted goods on Facebook – CBS 2 found it ’ s happening right now @ @ @ @ @ photos sent our way .
One woman posted a Facebook Live video publicly on Sunday @ @ @ @ @ it got about 6,600 views and 41 shares .
It showed looting at a strip @ @ @ @ @ to the brim .
In a second public Facebook Live video , posted days later @ @ @ @ @ the videos and photos posted on her page – admitting out loud that she had @ @ @ @ @ the people tagging police in the video , and defended her selling of the looted @ @ @ @ @ to it as stolen and saying it wasn ’ t the first time .
“ @ @ @ @ @ no ( expletive ) about this s**t. I upload stolen ( expletive ) 365 a @ @ @ @ @ heard saying .
“ This ain ’ t ( expletive ) first time I did @ @ @

CHICAGO (CBS) — Selling looted goods on Facebook – CBS 2 found it’s happening right now, with several videos and photos sent our way.
One woman posted a Facebook Live video publicly on Sunday, May 31, and it got about 6,600 views and 41 shares. It showed looting at a strip mall and a van filled to the brim.
In a second public Facebook Live video, posted days later, a woman stands behind the videos and photos posted on her page – admitting out loud that she had looted.
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She called out the people tagging police in the video, and defended her selling of the looted clothing and liquor – referring to it as stolen and saying it wasn’t the first time.
“I don’t give no (expletive) about this s**t. I upload stolen (expletive) 365 a year,” she is heard saying. “This ain’t (expletive) first time I did this.”
chicago.cbslocal.com/2020/06/08/people-found-admitting-out-loud-to-looting-selling-stolen-goods-on-facebook/


investmentwatchblog--2020-06-09--Chicago NYC – EVERYTHING Boarded Up Video

THIS shows a Reality that the Narrative has avoided .
It ’ s absolutely crazy that you have half of @ @ @ @ @ You ’ ve got congressmen dressed up in African garb taking a knee to THIS @ @ @ @ @ of NYC as well :

THIS shows a Reality that the Narrative has avoided.
It’s absolutely crazy that you have half of the nation supporting this….
You’ve got congressmen dressed up in African garb taking a knee to THIS!
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It’s just so surreal…
Here is a video of NYC as well:
h/t AggregateThreat


investmentwatchblog--2020-06-09--IBM steps back from facial recognition technology; to enact reforms to advance racial justice and co

IBM steps back from facial recognition technology; to enact reforms to advance racial justice and combat systemic racism?

What does that even mean ?
IBM CEO Arvind Krishna called on Congress Monday to enact reforms to advance racial justice and combat systemic racism while announcing the company was getting out of the facial recognition business .
The decision for IBM to get out of the facial recognition business comes amid criticism of the technology , employed by multiple companies , for exhibiting racial and gender bias .
Amazon ’ s own use of facial recognition was put to a shareholder vote last year , with 2.4 percent of shareholders voting in favor of banning the sale of the @ @ @ @ @ @ @ civil rights concerns “ IBM firmly opposes and will not condone uses of any technology , including facial recognition technology offered by other vendors , for mass surveillance , racial profiling , violations of basic human rights and freedoms , or any purpose which is not consistent with our values and Principles of Trust and Transparency , ” Krishna wrote in the letter delivered to members of Congress late Monday .
“ We believe now is the time to begin a national dialogue on whether and how facial recognition technology should be employed @ @ @ @ @ @ @

What does that even mean?
IBM CEO Arvind Krishna called on Congress Monday to enact reforms to advance racial justice and combat systemic racism while announcing the company was getting out of the facial recognition business.
The decision for IBM to get out of the facial recognition business comes amid criticism of the technology, employed by multiple companies, for exhibiting racial and gender bias. Amazon’s own use of facial recognition was put to a shareholder vote last year, with 2.4 percent of shareholders voting in favor of banning the sale of the technology to government agencies amid privacy and civil rights concerns
“IBM firmly opposes and will not condone uses of any technology, including facial recognition technology offered by other vendors, for mass surveillance, racial profiling, violations of basic human rights and freedoms, or any purpose which is not consistent with our values and Principles of Trust and Transparency,” Krishna wrote in the letter delivered to members of Congress late Monday.
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“We believe now is the time to begin a national dialogue on whether and how facial recognition technology should be employed by domestic law enforcement agencies.”
www.nbcnews.com/tech/security/ibm-steps-back-facial-recognition-technology-calls-reforms-n1228186?cid=ed_npd_bn_tw_bn
Q33


investmentwatchblog--2020-06-09--Anyway, don’t trust China. China is asshole.

SURE : National security law for Hong Kong to boost ‘ one country , two systems ’ and ensure freedoms @ @ @ @ @ in most candid comments yet from Beijing .
Contrary to alarmist warnings of the opposition @ @ @ @ @ demonise the central government , the new legislation would target “ very few ” people @ @ @ @ @ secession , subversion , terrorism and foreign intervention , said Zhang Xiaoming , deputy director @ @ @ @ @ Macau Affairs Office ( HKMAO ) .
The vast majority of Hong Kong people , @ @ @ @ @ and order restored in the city , and their rights and freedoms better protected from @ @ @ @ @ those behind violent protests , those demanding independence and others who colluded with foreign powers @ @ @ @ @ “ destructive forces ” , Zhang said , the new law was enlarging the space @ @ @ @ @ two systems principle and this in turn would ensure the country ’ s leadership would @ @ @ @ @ 2047 , when the model was due to expire .

SURE: National security law for Hong Kong to boost ‘one country, two systems’ and ensure freedoms beyond 2047: top official in most candid comments yet from Beijing.
Contrary to alarmist warnings of the opposition and foreign powers eager to demonise the central government, the new legislation would target “very few” people committing the four crimes of secession, subversion, terrorism and foreign intervention, said Zhang Xiaoming, deputy director of the Hong Kong and Macau Affairs Office (HKMAO).
The vast majority of Hong Kong people, meanwhile, would have peace and order restored in the city, and their rights and freedoms better protected from negative elements, such as those behind violent protests, those demanding independence and others who colluded with foreign powers.
In dealing with such “destructive forces”, Zhang said, the new law was enlarging the space for the one country, two systems principle and this in turn would ensure the country’s leadership would support it being continued beyond 2047, when the model was due to expire.


investmentwatchblog--2020-06-09--This woman has a message for antifa…STAY THE HELL OUTTA MY STATE

This woman has a message for antifa YOU WILL BE MADE TO CARE : “ To all of the apolitical @ @ @ @ @ just keep sitting these things out , that ’ ll prove increasingly difficult as the @ @ @ @ @ aggressively rapacious.
” MOSTLY PEACEFUL PROTESTS UPDATE : This Vandalism Gives the Lie to Antifa @ @ @ @ @

This woman has a message for antifa
YOU WILL BE MADE TO CARE: “To all of the apolitical STEM-types who think you can just keep sitting these things out, that’ll prove increasingly difficult as the woke Antifa Left becomes more aggressively rapacious.”
The proper response is “fuck off.”
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MOSTLY PEACEFUL PROTESTS UPDATE: This Vandalism Gives the Lie to Antifa’s Anti-Fascist Claims.
h/t Goneviral


investmentwatchblog--2020-06-09--Biden says he opposes defunding the police. Issue is, his history of flip flopping makes me think he

Biden says he opposes defunding the police. Issue is, his history of flip flopping makes me think he will change that belief.

Joe Biden now claims he opposes defunding the police .
If you think Biden wo n't flip-flop on defunding the @ @ @ @ @ I suggest you think again !

Joe Biden now claims he opposes defunding the police.
Here’s a list of issues he’s flip-flopped on:
Abortion
Immigration
Marriage Equality
Fracking
China
Trade
Iraq
2A
If you think Biden won't flip-flop on defunding the police, @ericbeachGOP & I suggest you think again!
— Ed Rollins (@EdRollins) June 8, 2020


investmentwatchblog--2020-06-09--Tucker: Black Lives Matter is now a political party

And it may be the strongest political party in the United States .
# FoxNews # Tucker

And it may be the strongest political party in the United States. #FoxNews #Tucker
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investmentwatchblog--2020-06-09--Defunding the police seems kind of like trying to flip the board when you know you’ve lost.

WANT TO DEFUND THE COPS ?
MEET MEXICO ’ S AUTODEFENSAS : Only here in the states , they would @ @ @ @ @ weapons rather than the drug cartels ’ enforcers .

Defunding the police seems kinda like trying to flip the board when you know you've lost. pic.twitter.com/QelCtjzUvV — Octo Zone (@Octo_Zone) June 8, 2020
Tucker Carlson On "Defund The Police" Movement "In the future the Left envisions the only people who will have guns are people on their team. That's exactly what #DefundThePolice really means. It means a woke militia policing our cities enforcing Democratic Party orthodoxy." pic.twitter.com/jur0IUtPSE — The Columbia Bugle 🇺🇸 (@ColumbiaBugle) June 9, 2020
WANT TO DEFUND THE COPS? MEET MEXICO’S AUTODEFENSAS: Only here in the states, they would be leftwing ideologues wielding the weapons rather than the drug cartels’ enforcers.
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investmentwatchblog--2020-06-09--Trump Rallies Resume in 2 Weeks!

Trump Rallies Resume in 2 Weeks!

President Trump 's re-election campaign is preparing to present the president with options to resume rallies in June despite coronavirus @ @ @ @ @ officials familiar with the plans .
t.co/O7u4ihgaQ5

President Trump's re-election campaign is preparing to present the president with options to resume rallies in June despite coronavirus concerns, according to 2 officials familiar with the plans. t.co/O7u4ihgaQ5
— NBC Politics (@NBCPolitics) June 8, 2020


investmentwatchblog--2020-06-09--Highly Respected Pollster, McLaughlin & Associates, Agrees With President Trump that Anti-Trump Poll

Highly Respected Pollster, McLaughlin & Associates, Agrees With President Trump that Anti-Trump Polls are “Intentionally” Fake

McLaughlin & Associates Report at the link below :

McLaughlin & Associates Report at the link below:
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I have retained highly respected pollster, McLaughlin & Associates, to analyze todays CNN Poll (and others), which I felt were FAKE based on the incredible enthusiasm we are receiving. Read analysis for yourself. This is the same thing they and others did when we defeated… — Donald J. Trump (@realDonaldTrump) June 8, 2020
…Crooked Hillary Clinton in 2016. They are called SUPPRESSION POLLS, and are put out to dampen enthusiasm. Despite 3 ½ years of phony Witch Hunts, we are winning, and will close it out on November 3rd! pic.twitter.com/4IhuLUZjsv — Donald J. Trump (@realDonaldTrump) June 8, 2020
h/t dr0id


investmentwatchblog--2020-06-09--Tim Pool: Leftists Have Become Fascists and They are Admitted It?

So now they are literal fascists and like.. admitting it ?
pic.twitter.com/1bwxfcxBjS

So now they are literal fascists and like.. admitting it? pic.twitter.com/1bwxfcxBjS
— Tim Pool (@Timcast) June 8, 2020


investmentwatchblog--2020-06-09--Signs Stock Rally Doomed to End After $21 Trillion Rebound

Signs Stock Rally is Doomed to End After $ 21 Trillion Rebound Signs Stock Rally is Doomed to End After $ 21 Trillion Rebound ( Bloomberg ) — As a sense of euphoria sweeps through global equity markets propelling stocks to regain $ 21 trillion in value from a March low , the asset class is looking increasingly frothy .
While stock luminaries who had advocated for a bull zone look like winners in hindsight , the debate goes on about whether the rally is a bear market bounce , doomed to end .
Asia ended the day up but @ @ @ @ @ @ @ while equities in Europe slipped in early trade , with the Stoxx Europe 600 falling as much as 1.6 % .
It ’ s a similar picture for the U.S. market as S & P 500 futures were down 0.9 % .
Global equities have climbed back to levels last seen in February , when the coronavirus began spreading rapidly outside of China .
The 42 % surge from a March low is the best advance over an equivalent time-frame since 2009 for the MSCI ACWI Index that includes stocks in both the @ @ @ @ @ @ @ is now trading at 20 times next year ’ s profits , the most expensive since 2002 .
As Many as 25,000 Stores May Close…

Signs Stock Rally is Doomed to End After $21 Trillion Rebound
Signs Stock Rally is Doomed to End After $21 Trillion Rebound
(Bloomberg) — As a sense of euphoria sweeps through global equity markets propelling stocks to regain $21 trillion in value from a March low, the asset class is looking increasingly frothy.
While stock luminaries who had advocated for a bull zone look like winners in hindsight, the debate goes on about whether the rally is a bear market bounce, doomed to end. Asia ended the day up but off the session’s high, while equities in Europe slipped in early trade, with the Stoxx Europe 600 falling as much as 1.6%. It’s a similar picture for the U.S. market as S&P 500 futures were down 0.9%.
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Global equities have climbed back to levels last seen in February, when the coronavirus began spreading rapidly outside of China. The 42% surge from a March low is the best advance over an equivalent time-frame since 2009 for the MSCI ACWI Index that includes stocks in both the emerging and developed world. The gauge is now trading at 20 times next year’s profits, the most expensive since 2002.
As Many as 25,000 Stores May Close…
USA officially in recession…


investmentwatchblog--2020-06-09--NYC UNLOCKED! TEXAS VIRUS CASES HIT RECORD

As the nation ’ s largest city began reopening Monday after more than two months of lockdown , New Yorkers expressed trepidation , relief and optimism about this first step toward getting back to business .
With the city hard hit by coronavirus , many residents have spent weeks abiding by state guidance to stay home as much as possible .
But on Monday , construction , agriculture , manufacturing and wholesale trade sites were allowed to resume .
Retail stores could also offer curbside and in-store pickup .
“ All New Yorkers should be proud that you got us @ @ @ @ @ @ @ de Blasio said at a press conference in Brooklyn .
He credited residents following strict social-distancing measures since mid-March , and predicted 200,000 to 400,000 people will return to work during this first phase .
• There are currently 1,935 Covid-19 patients in hospitals across the state , topping the previous hospitalization record of 1,888 patients on May 5 , according to new data from the Texas Department of State Health Services .
• Texas was among the first states to relax its statewide stay-at-home order , allowing it to expire April 30 @ @ @ @ @ @ @ 1 .
• The coronavirus has infected more than 75,400 people in Texas , according to Johns Hopkins University data .
Texas reported a record number of coronavirus hospitalizations Monday — weeks after Gov .
Greg Abbott took the lead among governors in easing social distancing measures to help bring jobs back .
There are currently 1,935 Covid-19 patients in hospitals across the state , topping the previous hospitalization record of 1,888 patients on May 5 , according to new data from the Texas Department of State Health Services .
Texas was among @ @ @ @ @ @ @ stay-at-home order , allowing it to expire April 30 and some businesses to resume operations May 1 .
The coronavirus has infected more than 75,400 people in Texas , according to data from Johns Hopkins University .
The positivity rate for Covid-19 tests in Texas reached a low of 4.27 % toward the end of May but has since jumped to 7.55 % , according to the state ’ s health department .
While hospitalizations are increasing , there are more than 1,600 open intensive-care beds and more than 5,800 ventilators available for @ @ @ @ @ @ @ experts say hospitalization numbers could be a better way to track a state ’ s reopening performance since it ’ s more difficult to skew than testing data , which fluctuates depending on how many tests are being run .

New York City Reopens After Covid-19 Lockdown
As the nation’s largest city began reopening Monday after more than two months of lockdown, New Yorkers expressed trepidation, relief and optimism about this first step toward getting back to business.
With the city hard hit by coronavirus, many residents have spent weeks abiding by state guidance to stay home as much as possible. But on Monday, construction, agriculture, manufacturing and wholesale trade sites were allowed to resume. Retail stores could also offer curbside and in-store pickup. “All New Yorkers should be proud that you got us to this day,” Mayor Bill de Blasio said at a press conference in Brooklyn. He credited residents following strict social-distancing measures since mid-March, and predicted 200,000 to 400,000 people will return to work during this first phase.
Texas reports a record number of hospitalized coronavirus patients after state reopened early
There are currently 1,935 Covid-19 patients in hospitals across the state, topping the previous hospitalization record of 1,888 patients on May 5, according to new data from the Texas Department of State Health Services.
Texas was among the first states to relax its statewide stay-at-home order, allowing it to expire April 30 and some businesses to resume operations May 1.
The coronavirus has infected more than 75,400 people in Texas, according to Johns Hopkins University data.
Texas reported a record number of coronavirus hospitalizations Monday — weeks after Gov. Greg Abbott took the lead among governors in easing social distancing measures to help bring jobs back.
We are primarily funded by readers. Please subscribe and donate to support us!
There are currently 1,935 Covid-19 patients in hospitals across the state, topping the previous hospitalization record of 1,888 patients on May 5, according to new data from the Texas Department of State Health Services.
Texas was among the first states to relax its statewide stay-at-home order, allowing it to expire April 30 and some businesses to resume operations May 1.
The coronavirus has infected more than 75,400 people in Texas, according to data from Johns Hopkins University. The positivity rate for Covid-19 tests in Texas reached a low of 4.27% toward the end of May but has since jumped to 7.55%, according to the state’s health department.
While hospitalizations are increasing, there are more than 1,600 open intensive-care beds and more than 5,800 ventilators available for critically ill patients.
Some infectious disease experts say hospitalization numbers could be a better way to track a state’s reopening performance since it’s more difficult to skew than testing data, which fluctuates depending on how many tests are being run.