investmentwatchblog--2020-05-14--New Yorkers have been killed en masse by their Governer Cuomo. Two executive orders, one to kill the

New Yorkers have been killed en masse by their Governer Cuomo. Two executive orders, one to kill the elderly, one to make sure they die once they get sick.

UH , NORTHEASTERN DEMOCRATIC GOVERNORS MOSTLY ?
Who sent coronavirus-positive patients into nursing homes ?
The great influenza of 1918-19 , for example , tended to kill otherwise healthy people in the prime of life , ages 20 to 40 .
The COVID-19 virus tends to kill people age 70 and above , especially those with comorbidities .
Yet , even though that was apparent early on , America ’ s governors have done a poor job of protecting those most at risk — residents of nursing homes , elderly people with physical frailties and , often , cognitive impairment @ @ @ @ @ @ @ coronavirus deaths in the United States , according to the New York Times ’ s reporting , are of nursing home residents or workers .
And nursing homes accounted for a majority of deaths in heavily hit states , such as New Jersey ( 52 % ) , Massachusetts ( 59 % ) , Pennsylvania ( 66 % ) , and Connecticut ( 55 % ) , and for 80 % of deaths in otherwise lightly hit Minnesota .
That percentage is much lower ( 20 % ) in America ’ s COVID-19 @ @ @ @ @ @ @ Empire State still leads the nation with 5,403 nursing home deaths — about 1 out of every 14 COVID-19 deaths in the entire country .
Why so many ?
On March 25 , the state health commissioner ordered nursing homes to accept patients with the virus .
It ’ s unclear why he made this fatal decision .
Maybe he wanted to keep hospital beds available .
Or maybe he feared that sick people would be dumped onto the street .
When asked about this policy in late April , Gov .
Andrew @ @ @ @ @ @ @ , on Saturday , after 46 days in effect , he reversed it .
New York wasn ’ t the only state that insisted on placing infected patients in nursing homes .
New Jersey ’ s policy was similar , explicitly barring homes from requiring testing before admitting patients .
California had the same policy but dropped it after 10 days .
Other states , recognizing the dangers of infecting the vulnerable , required or encouraged nursing homes to set up separate units or staffs to handle patients testing positive .
Florida Gov @ @ @ @ @ @ @ the national media for avoiding a total lockdown , zeroed in on nursing homes , encouraging repeated testing and temperature-taking of residents and staff and isolating anyone testing positive .
Florida , a state with 2 million more people than New York , had just 714 nursing home deaths , 13 % of the number in New York .

by Etf88
UH, NORTHEASTERN DEMOCRATIC GOVERNORS MOSTLY? Who sent coronavirus-positive patients into nursing homes?
The great influenza of 1918-19, for example, tended to kill otherwise healthy people in the prime of life, ages 20 to 40. The COVID-19 virus tends to kill people age 70 and above, especially those with comorbidities.
Yet, even though that was apparent early on, America’s governors have done a poor job of protecting those most at risk — residents of nursing homes, elderly people with physical frailties and, often, cognitive impairment.
The result: One-third of reported coronavirus deaths in the United States, according to the New York Times’s reporting, are of nursing home residents or workers. And nursing homes accounted for a majority of deaths in heavily hit states, such as New Jersey (52%), Massachusetts (59%), Pennsylvania (66%), and Connecticut (55%), and for 80% of deaths in otherwise lightly hit Minnesota.
That percentage is much lower (20%) in America’s COVID-19 epicenter, New York, but the Empire State still leads the nation with 5,403 nursing home deaths — about 1 out of every 14 COVID-19 deaths in the entire country.
Why so many? On March 25, the state health commissioner ordered nursing homes to accept patients with the virus. It’s unclear why he made this fatal decision. Maybe he wanted to keep hospital beds available. Or maybe he feared that sick people would be dumped onto the street.
When asked about this policy in late April, Gov. Andrew Cuomo professed ignorance. Two weeks later, on Saturday, after 46 days in effect, he reversed it.
New York wasn’t the only state that insisted on placing infected patients in nursing homes. New Jersey’s policy was similar, explicitly barring homes from requiring testing before admitting patients. California had the same policy but dropped it after 10 days.
Other states, recognizing the dangers of infecting the vulnerable, required or encouraged nursing homes to set up separate units or staffs to handle patients testing positive. Florida Gov. Ron DeSantis, widely criticized in the national media for avoiding a total lockdown, zeroed in on nursing homes, encouraging repeated testing and temperature-taking of residents and staff and isolating anyone testing positive. Florida, a state with 2 million more people than New York, had just 714 nursing home deaths, 13% of the number in New York.


investmentwatchblog--2020-05-14--COMMUNIST CHINA STEALING AMERICAN CREATIVITY – MEDICAL RESEARCH EDITION:

In mid-April , a senior FBI official warned that cyber spies were attacking U.S. and allied medical research institutions developing coronavirus vaccines .
The U.S. Department of Justice later pegged China as the chief witch doctor of medical espionage and suggested a crash American COVID-19/Wuhan virus vaccine project nicknamed Operation Warp Speed is Beijing ’ s major target .
More information broke on this yesterday .
However , the facts were already appearing a month ago .
A vaccine is a powerful tool , in so many ways .
…the nation that develops and deploys the first safe and clinically @ @ @ @ @ @ @ many things .
Protecting your nation ’ s population is more than a material medical advantage .
A vaccinated population has an economic advantage over adversaries .
Developing an effective vaccine enhances diplomatic power .
Obviously , the discoverer ’ s allies are in line to benefit .
But don ’ t underestimate prestige power of an effective vaccine ’ s quick discovery and rapid employment .
Effectiveness is primary .
However , speed demonstrates a society ’ s ability to rapidly face new , threatening conditions and produce a response that benefits @ @ @ @ @ @ @ ’ t the only measure of a nation ’ s creative scientific vitality , but it is a measure even television gab shows understand .
Hence this column ’ s side bet : An effective COVID-19/Wuhan virus vaccine developed by fall 2020 will warrant a Nobel Prize in Medicine .

via strategypage
In mid-April, a senior FBI official warned that cyber spies were attacking U.S. and allied medical research institutions developing coronavirus vaccines. The U.S. Department of Justice later pegged China as the chief witch doctor of medical espionage and suggested a crash American COVID-19/Wuhan virus vaccine project nicknamed Operation Warp Speed is Beijing’s major target.
More information broke on this yesterday. However, the facts were already appearing a month ago. A vaccine is a powerful tool, in so many ways.
…the nation that develops and deploys the first safe and clinically effective vaccine will be able to do many things. Protecting your nation’s population is more than a material medical advantage. A vaccinated population has an economic advantage over adversaries.
Developing an effective vaccine enhances diplomatic power. Obviously, the discoverer’s allies are in line to benefit. But don’t underestimate prestige power of an effective vaccine’s quick discovery and rapid employment. Effectiveness is primary. However, speed demonstrates a society’s ability to rapidly face new, threatening conditions and produce a response that benefits the world.
A Nobel Prize isn’t the only measure of a nation’s creative scientific vitality, but it is a measure even television gab shows understand. Hence this column’s side bet: An effective COVID-19/Wuhan virus vaccine developed by fall 2020 will warrant a Nobel Prize in Medicine.


investmentwatchblog--2020-05-14--REVOLVING DOOR BETWEEN BIG TECH AND BIG GOVERNMENT:

Apple ’ s vice president for public policy and government affairs , Cynthia Hogan , has resigned from the company @ @ @ @ @ will be leaving Apple next month after recently being selected as one of the members @ @ @ @ @ vice presidential selection committee .
Hogan joined Apple back in April 2016 to head its @ @ @ @ @ ’ s environmental , policy , and social initiatives chief Lisa Jackson .
Prior to @ @ @ @ @ a top lobbyist for the National Football League , and before that , she served @ @ @ @ @ counsel when he was Vice President of the United States under President Barack Obama .

Apple Policy Exec Cynthia Hogan Departs Company.
Apple’s vice president for public policy and government affairs, Cynthia Hogan, has resigned from the company, reports Axios. Hogan will be leaving Apple next month after recently being selected as one of the members of Joe Biden’s vice presidential selection committee.
Hogan joined Apple back in April 2016 to head its Washington D.C. office under Apple’s environmental, policy, and social initiatives chief Lisa Jackson.
Prior to joining Apple, Hogan was a top lobbyist for the National Football League, and before that, she served as Joe Biden’s counsel when he was Vice President of the United States under President Barack Obama.


investmentwatchblog--2020-05-14--TRUMP calling for OBAMA TO TESTIFY

TRUMP calling for OBAMA TO TESTIFY

If I were a Senator or Congressman , the first person I would call to testify about the biggest political @ @ @ @ @ history of the USA , by FAR , is former President Obama .
He knew @ @ @ @ @ LindseyGrahamSC , just do it .
No more Mr. Nice Guy .
No more talk @

If I were a Senator or Congressman, the first person I would call to testify about the biggest political crime and scandal in the history of the USA, by FAR, is former President Obama. He knew EVERYTHING. Do it
@LindseyGrahamSC, just do it. No more Mr. Nice Guy. No more talk!
We are primarily funded by readers. Please subscribe and donate to support us!
If I were a Senator or Congressman, the first person I would call to testify about the biggest political crime and scandal in the history of the USA, by FAR, is former President Obama. He knew EVERYTHING. Do it @LindseyGrahamSC, just do it. No more Mr. Nice Guy. No more talk! — Donald J. Trump (@realDonaldTrump) May 14, 2020


investmentwatchblog--2020-05-14--The Press Doesn’t Do Apologies, It Just Moves On To The Next Politically-Determined Narrative:

Where Does Brian Kemp Go For an Apology ?
The IHME model has revised down significantly the expected cases in Georgia and Democrats and the press are moving goal posts .
Between April 20 and May 1 , a recurring trending “ hashtag ” on Twitter was “ KempHasBloodOnHisHands.
” Democrat politicians and others assailed Kemp , claiming people were going to die because of him .
.
.
.
Ron Fournier , formerly of the Associated Press , was not alone in that sentiment .
Stacey Abrams took to MSNBC to blast Brian Kemp .
President Trump criticized him @ @ @ @ @ @ @ ” with Kemp .
The Atlantic ran a hysterically themed article that Georgia was experimenting in human sacrifice .
The subtitle of the piece was , “ The state is about to find out how many people need to lose their lives to shore up the economy.
” We are now not just into the fourth week since Brian Kemp said the state could reopen and fourteen days past the shelter-in-place order expired , we are now past the last major revision of the IHME model , which happened yesterday .
The IHME @ @ @ @ @ @ @ relied upon model for COVID-19 .
The White House and Georgia ’ s Governor rely on it .
On May 12 , the IHME model predicted Georgia would still have hundreds of daily new cases into August and would have 1,783 daily new cases on June 12 , 2020 .
Yesterday , the model updated and the update was significant .
Georgia is now expected to have no cases of the virus by August and only 367 new daily cases on June 12 .
Where does Brian Kemp go to get his apology @ @ @ @ @ @ @ the time that Kemp was not alone in reopening .
Jared Polis of Colorado also put in place a process to reopen his state .
Georgia actually is administering more tests per capita than Colorado and the number goes up daily .
The media chose to ignore all of this , just as the media has willfully chosen to ignore problems with Andrew Cuomo ’ s leadership in New York .

Where Does Brian Kemp Go For an Apology? The IHME model has revised down significantly the expected cases in Georgia and Democrats and the press are moving goal posts.
Between April 20 and May 1, a recurring trending “hashtag” on Twitter was “KempHasBloodOnHisHands.” Democrat politicians and others assailed Kemp, claiming people were going to die because of him. . . .
Ron Fournier, formerly of the Associated Press, was not alone in that sentiment. Stacey Abrams took to MSNBC to blast Brian Kemp. President Trump criticized him for reopening saying he “strongly disagreed” with Kemp. The Atlantic ran a hysterically themed article that Georgia was experimenting in human sacrifice. The subtitle of the piece was, “The state is about to find out how many people need to lose their lives to shore up the economy.”
We are now not just into the fourth week since Brian Kemp said the state could reopen and fourteen days past the shelter-in-place order expired, we are now past the last major revision of the IHME model, which happened yesterday.
The IHME model is the most widely cited and relied upon model for COVID-19. The White House and Georgia’s Governor rely on it. On May 12, the IHME model predicted Georgia would still have hundreds of daily new cases into August and would have 1,783 daily new cases on June 12, 2020.
Yesterday, the model updated and the update was significant. Georgia is now expected to have no cases of the virus by August and only 367 new daily cases on June 12.
Where does Brian Kemp go to get his apology?
The media failed to note at the time that Kemp was not alone in reopening. Jared Polis of Colorado also put in place a process to reopen his state. Georgia actually is administering more tests per capita than Colorado and the number goes up daily. The media chose to ignore all of this, just as the media has willfully chosen to ignore problems with Andrew Cuomo’s leadership in New York.


investmentwatchblog--2020-05-14--Negative Rates Are Not An Option, Economic Outlook “Highly Uncertain”

Negative rates are not an option .
That was Fed Chair Jerome Powell ’ s point as he reiterated the Fed ’ s position on negative rates .
He gave his economic assessment as well .
In a live economic interview with PIIE , Jerome Powell discussed the Fed ’ s outlook for the economy and the advisability of negative interest rates .
The video interview is above and here is Here is Powell ’ s Prepared Transcript .
The scope and speed of this downturn are without modern precedent , significantly worse than any recession since World War II @ @ @ @ @ @ @ in economic activity and in employment , and already the job gains of the past decade have been erased .
Since the pandemic arrived in force just two months ago , more than 20 million people have lost their jobs .
A Fed survey being released tomorrow reflects findings similar to many others : Among people who were working in February , almost 40 percent of those in households making less than $ 40,000 a year had lost a job in March .
While the economic response has been both timely and appropriately @ @ @ @ @ @ @ final chapter , given that the path ahead is both highly uncertain and subject to significant downside risks .
Economic forecasts are uncertain in the best of times , and today the virus raises a new set of questions : How quickly and sustainably will it be brought under control ?
Can new outbreaks be avoided as social-distancing measures lapse ?
How long will it take for confidence to return and normal spending to resume ?
And what will be the scope and timing of new therapies , testing , or a vaccine @ @ @ @ @ @ @ go a long way toward setting the timing and pace of the economic recovery .
Since the answers are currently unknowable , policies will need to be ready to address a range of possible outcomes .
The loss of thousands of small- and medium-sized businesses across the country would destroy the life ’ s work and family legacy of many business and community leaders and limit the strength of the recovery when it comes .
These businesses are a principal source of job creation—something we will sorely need as people seek to return @ @ @ @ @ @ @ weak recovery could also discourage business investment and expansion , further limiting the resurgence of jobs as well as the growth of capital stock and the pace of technological advancement .
The result could be an extended period of low productivity growth and stagnant incomes .
The current downturn is unique in that it is attributable to the virus and the steps taken to limit its fallout .
This time , high inflation was not a problem .
There was no economy-threatening bubble to pop and no unsustainable boom to bust .
The @ @ @ @ @ @ @ usual suspects—something worth keeping in mind as we respond .
At the Fed , we will continue to use our tools to their fullest until the crisis has passed and the economic recovery is well under way .
Recall that the Fed has lending powers , not spending powers .
A loan from a Fed facility can provide a bridge across temporary interruptions to liquidity , and those loans will help many borrowers get through the current crisis .
But the recovery may take some time to gather momentum , and the passage @ @ @ @ @ @ @ solvency problems .
Additional fiscal support could be costly , but worth it if it helps avoid long-term economic damage and leaves us with a stronger recovery .
This tradeoff is one for our elected representatives , who wield powers of taxation and spending .
The above transcript takes up the first 9 minutes of the video .
The rest is a Q & A discussion between PIIE president Adam S. Posen and Powell .
“ The committee ’ s view on negative rates has not changed .
This is not something that @ @ @ @ @ @ @ revisited this question last October and the minutes said all FOMC presidents – and that ’ s not a sentence you get to say very often – that participants did not see negative rates as an attractive policy.
” This subject comes up time and time again .
Even before the Fed openly discussed negative rates I was of the view the Fed would never do so .
That Tweet was in response to articles like these .
• It Begins : For The First Time Ever , Futures Price “ Fatal ” @ @ @ @ @ @ @ Why The Fed Will Go Negative In Search of the Effective Lower Bound Also last September I discussed the lower bound in In Search of the Effective Lower Bound Whereas the Fed slowly recapitalized banks over time by paying interest on excess reserves , the ECB further punished the banks , perhaps purposely .
What better way to get Eurobonds or debt commingling that to purposely kill the banks ?
I strongly disagree with the Fed ’ s self-serving statement “ There was no economy-threatening bubble to pop and no unsustainable boom to @ @ @ @ @ @ @ third major economic bubble in 20 years .
What many label as the “ Everything Bubble ” is really a junk bond and asset bubble .
What one label ’ s it isn ’ t important , how it came about is .
The Fed embarked on a nonsensical battle against routine CPI deflation spawning the third major asset bubble .
There was plenty of inflation , in housing , in junk bonds , in Airbnb leverage , in borrowing everywhere and in the search for yield .
None of that shows up @ @ @ @ @ @ @ nor in the CPI , just rent .
Very Deflationary Outcome Has Begun : Blame the Fed On March 5 , well before the Covid-19 bust , I cautioned Very Deflationary Outcome Has Begun : Blame the Fed To be fair , that was not timely because something like this would trigger a deflationary bust , all in the name of “ preventing deflation ” Of all the widely believed but patently false economic beliefs is the absurd notion that falling consumer prices are bad for the economy and something must be done @ @ @ @ @ @ @ “ Prove Rising Prices Provide an Overall Economic Benefit ” has gone unanswered .
The BIS did a historical study and found routine deflation was not any problem at all .
“ Deflation may actually boost output .
Lower prices increase real incomes and wealth .
And they may also make export goods more competitive , ” stated the BIS study .
So prepare for another round of debt deflation , possibly accompanied by a lower CPI especially if one accurately includes home prices instead of rents in the CPI calculation .
For @ @ @ @ @ @ @ please see Historical Perspective on CPI Deflations : How Damaging are They ?
Fed Lie of the Day : “ Low Inflation is One of the Major Challenges of Our Time ” Please recall my May 18 , 2019 post Fed Lie of the Day : “ Low Inflation is One of the Major Challenges of Our Time ” .
In reality , Fed-sponsored bubbles were the major challenge .
Then when bubbles pop , what the Fed claimed to be preventing happens .
A Supply Shock and a Demand Shock are Coming @ @ @ @ @ @ @ with the Fed ’ s Balance Sheet Ballooning Out of Control hoping to prevent the asset bubble deflation that the Fed itself caused .

by Mike Shedlock
Negative rates are not an option. That was Fed Chair Jerome Powell’s point as he reiterated the Fed’s position on negative rates. He gave his economic assessment as well.
Economic Outlook “Highly Uncertain”
In a live economic interview with PIIE, Jerome Powell discussed the Fed’s outlook for the economy and the advisability of negative interest rates.
The video interview is above and here is Here is Powell’s Prepared Transcript.
Key Transcript Snips
The scope and speed of this downturn are without modern precedent, significantly worse than any recession since World War II. We are seeing a severe decline in economic activity and in employment, and already the job gains of the past decade have been erased. Since the pandemic arrived in force just two months ago, more than 20 million people have lost their jobs. A Fed survey being released tomorrow reflects findings similar to many others: Among people who were working in February, almost 40 percent of those in households making less than $40,000 a year had lost a job in March. While the economic response has been both timely and appropriately large, it may not be the final chapter, given that the path ahead is both highly uncertain and subject to significant downside risks. Economic forecasts are uncertain in the best of times, and today the virus raises a new set of questions: How quickly and sustainably will it be brought under control? Can new outbreaks be avoided as social-distancing measures lapse? How long will it take for confidence to return and normal spending to resume? And what will be the scope and timing of new therapies, testing, or a vaccine? The answers to these questions will go a long way toward setting the timing and pace of the economic recovery. Since the answers are currently unknowable, policies will need to be ready to address a range of possible outcomes.
Job Losses & Economic Impact
The loss of thousands of small- and medium-sized businesses across the country would destroy the life’s work and family legacy of many business and community leaders and limit the strength of the recovery when it comes. These businesses are a principal source of job creation—something we will sorely need as people seek to return to work. A prolonged recession and weak recovery could also discourage business investment and expansion, further limiting the resurgence of jobs as well as the growth of capital stock and the pace of technological advancement. The result could be an extended period of low productivity growth and stagnant incomes. The current downturn is unique in that it is attributable to the virus and the steps taken to limit its fallout. This time, high inflation was not a problem. There was no economy-threatening bubble to pop and no unsustainable boom to bust. The virus is the cause, not the usual suspects—something worth keeping in mind as we respond. At the Fed, we will continue to use our tools to their fullest until the crisis has passed and the economic recovery is well under way. Recall that the Fed has lending powers, not spending powers. A loan from a Fed facility can provide a bridge across temporary interruptions to liquidity, and those loans will help many borrowers get through the current crisis. But the recovery may take some time to gather momentum, and the passage of time can turn liquidity problems into solvency problems. Additional fiscal support could be costly, but worth it if it helps avoid long-term economic damage and leaves us with a stronger recovery. This tradeoff is one for our elected representatives, who wield powers of taxation and spending.
Negative Interest Rates
The above transcript takes up the first 9 minutes of the video. The rest is a Q&A discussion between PIIE president Adam S. Posen and Powell .
Posen asked Powell about negative interest rates.
“The committee’s view on negative rates has not changed. This is not something that we are looking at. … We revisited this question last October and the minutes said all FOMC presidents – and that’s not a sentence you get to say very often – that participants did not see negative rates as an attractive policy.”
This subject comes up time and time again. Even before the Fed openly discussed negative rates I was of the view the Fed would never do so.
That Tweet was in response to articles like these.
In Search of the Effective Lower Bound
Last September I penned Negative Interest Rates Are Social Political Poison.
Also last September I discussed the lower bound in In Search of the Effective Lower Bound
The Fed pays interest on excess reserves but the ECB charges them. Whereas the Fed gave free money to banks, the ECB charged the banks for excess reserves it forced into the system.
Whereas the Fed slowly recapitalized banks over time by paying interest on excess reserves, the ECB further punished the banks, perhaps purposely.
What better way to get Eurobonds or debt commingling that to purposely kill the banks?
No Economy-Threatening Bubble
I strongly disagree with the Fed’s self-serving statement “There was no economy-threatening bubble to pop and no unsustainable boom to bust. “
The Fed blew the third major economic bubble in 20 years.
Dotcom Bubble Housing Bubble Everything Bubble
What many label as the “Everything Bubble” is really a junk bond and asset bubble.
We are primarily funded by readers. Please subscribe and donate to support us!
What one label’s it isn’t important, how it came about is.
The Fed embarked on a nonsensical battle against routine CPI deflation spawning the third major asset bubble.
Plenty of Inflation
There was plenty of inflation, in housing, in junk bonds, in Airbnb leverage, in borrowing everywhere and in the search for yield.
None of that shows up in the CPI. Home prices are nor in the CPI, just rent.
Very Deflationary Outcome Has Begun: Blame the Fed
On March 5, well before the Covid-19 bust, I cautioned Very Deflationary Outcome Has Begun: Blame the Fed
To be fair, that was not timely because something like this would trigger a deflationary bust, all in the name of “preventing deflation”
Economic Challenge to Keynesians
Of all the widely believed but patently false economic beliefs is the absurd notion that falling consumer prices are bad for the economy and something must be done about them.
My Challenge to Keynesians “Prove Rising Prices Provide an Overall Economic Benefit” has gone unanswered.
BIS Deflation Study
The BIS did a historical study and found routine deflation was not any problem at all.
“Deflation may actually boost output. Lower prices increase real incomes and wealth. And they may also make export goods more competitive,” stated the BIS study.
The existing bubbles ensure another deflationary outcome.
So prepare for another round of debt deflation, possibly accompanied by a lower CPI especially if one accurately includes home prices instead of rents in the CPI calculation.
Historical Perspective on Deflation
For a discussion of the BIS study, please see Historical Perspective on CPI Deflations: How Damaging are They?
Fed Lie of the Day: “Low Inflation is One of the Major Challenges of Our Time”
Please recall my May 18, 2019 post Fed Lie of the Day: “Low Inflation is One of the Major Challenges of Our Time”.
In reality, Fed-sponsored bubbles were the major challenge. Then when bubbles pop, what the Fed claimed to be preventing happens.
Supply Shock and a Demand Shock Coming Up
A Supply Shock and a Demand Shock are Coming Up.
So prepare for another round of debt deflation, possibly accompanied by a lower CPI especially if one accurately includes home prices instead of rents in the CPI calculation. Central banks’ seriously misguided attempts to defeat routine consumer price deflation is what fuels the destructive asset bubbles that eventually collapse.
And here we are, with the Fed’s Balance Sheet Ballooning Out of Control hoping to prevent the asset bubble deflation that the Fed itself caused.


investmentwatchblog--2020-05-14--CHICAGO MAYOR: Leaders must pledge allegiance to the New World Order

Lori Lightfoot : “ We must pick the people in those agencies and the deputies who are pledging allegiance to @ @ @ @ @ good governance .
”

Lori Lightfoot: “We must pick the people in those agencies and the deputies who are pledging allegiance to the New World Order and good governance.”
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h/t Dr. Daniel Jackson


investmentwatchblog--2020-05-14--The Democrat’s “War on Work”

The Democrat’s “War on Work”

Have you been watching the politicians , government bureaucrats , media know-it-alls , and so-called “ medical experts ” who want you and me to keep our businesses closed…to stop working and earning…to stay locked down at home…to keep the US economy closed indefinitely .
They all have something in common .
Can you guess ?
All of these people are getting paid .
They haven ’ t missed one paycheck .
They ’ re feeling no pain .
They don ’ t live in our world .
They have nothing in common with the rest of us .
They @ @ @ @ @ @ @ paid , while we go broke and lose everything we ’ ve worked for our entire lives .
While we can ’ t pay bills .
While we have no idea if we ’ ll ever work again .
And we ’ re supposed to just “ trust them ” that everything is going to be okay ?
Really ?
Funny how that works .
Virtually everyone screaming about how we must keep the economy closed , doesn ’ t depend on the economy being open .
All those Democrat Governors are getting @ @ @ @ @ @ @ Dr. Fauci hasn ’ t missed a paycheck .
Chris Cuomo , Don Lemon and Rachel Maddow haven ’ t missed any paychecks .
It ’ s pretty easy for them to tell the rest of us “ serfs ” and “ deplorables ” not to work .
They ’ ve never walked a mile in our shoes .
Those people are the leaders : the elite and privileged hypocrites ordering us around .
But the story is even worse…and more conflicted .
Because this elite class has created a country where the @ @ @ @ @ @ @ about working .
Have you seen the polls ?
Two thirds of Americans in many recent polls want to keep the economy closed and even worse , “ move slowly to reopen.
” The media loves to tout those polls .
But they ’ re not telling you the full story .
First , let ’ s examine the population of America for clues about why a majority would want to keep the economy closed .
About 120 million Americans are either over age 65 , or under age 18 .
The seniors @ @ @ @ @ @ @ Security , Medicare , pensions and savings .
The under 18 crowd lives off mom and dad .
Neither group depends on a job .
There ’ s also about 20 million more in college or grad school .
There ’ s also about 100 million Americans living on some form of government welfare .
Government takes care of them .
Whether the economy is open , or closed , they get a government check .
So why would they want to rush back to work ?
They don ’ t work in @ @ @ @ @ @ @ about 90 million Americans who actually work , earn , and pay taxes .
90 million out of 330 million .
That ’ s who carries this entire economy on our backs .
But wait .
It gets better .
Of those 90 million , 22 million are government employees on the federal , state and local level .
Some are great people .
Some are heroes ( law enforcement , first responders , etc . )
But none of them relies on the US economy to get paid .
When the economy @ @ @ @ @ @ @ paychecks , gold-plated healthcare packages and pensions .
So , after subtracting those 22 million government employees who have no real connection to whether the US economy is open , or not… That leaves only 68 million Americans who truly depend on the US economy to pay their bills .
That ’ s 68 million out of 330 million .
That ’ s only about 20 % of America .
But there ’ s one more poll that really ties it all together .
Rasmussen recently asked Americans about going back to work @ @ @ @ @ @ @ ’ s time for the U.S. to get back to work , versus only 14 % of liberals .
Folks , it ’ s very clear what ’ s going on here .
Most of the people working are Republicans .
Most of the people who rely on the US economy being open to pay bills are Republicans .
We either work , or starve .
Democrats on the other hand either don ’ t need or want to work , or don ’ t depend on the private sector economy to survive @ @ @ @ @ @ @ pay their bills .
So now you understand why polls that show two thirds of Americans are in no hurry to go back to work .
It ’ s because many of them don ’ t work in the first place , or don ’ t rely on the private sector in any way .
Democrats have spent a century chipping away at work .
Making sure a majority of Americans rely on government , not work .
So , when it comes time to re-open the economy , they just don ’ @ @ @ @ @ @ @ .
America is badly divided .
We do live in different worlds .
We do respond to this Coronavirus pandemic differently .
Some of us need the economy to re-open , some of us are in no rush .
It ’ s all because of “ The Democrat ’ s War on Work .
”

by Wayne Allyn Root
Have you been watching the politicians, government bureaucrats, media know-it-alls, and so-called “medical experts” who want you and me to keep our businesses closed…to stop working and earning…to stay locked down at home…to keep the US economy closed indefinitely. They all have something in common. Can you guess?
All of these people are getting paid.
They haven’t missed one paycheck. They’re feeling no pain. They don’t live in our world. They have nothing in common with the rest of us. They’re hypocrites.
They all get paid, while we go broke and lose everything we’ve worked for our entire lives. While we can’t pay bills. While we have no idea if we’ll ever work again. And we’re supposed to just “trust them” that everything is going to be okay? Really?
Funny how that works. Virtually everyone screaming about how we must keep the economy closed, doesn’t depend on the economy being open. All those Democrat Governors are getting paid. Congress is getting paid. Dr. Fauci hasn’t missed a paycheck. Chris Cuomo, Don Lemon and Rachel Maddow haven’t missed any paychecks. It’s pretty easy for them to tell the rest of us “serfs” and “deplorables” not to work. They’ve never walked a mile in our shoes.
Those people are the leaders: the elite and privileged hypocrites ordering us around. But the story is even worse…and more conflicted. Because this elite class has created a country where the majority of the population no longer cares about working.
Have you seen the polls? Two thirds of Americans in many recent polls want to keep the economy closed and even worse, “move slowly to reopen.” The media loves to tout those polls. But they’re not telling you the full story.
First, let’s examine the population of America for clues about why a majority would want to keep the economy closed.
About 120 million Americans are either over age 65, or under age 18. The seniors are mostly retired and live on Social Security, Medicare, pensions and savings. The under 18 crowd lives off mom and dad. Neither group depends on a job. There’s also about 20 million more in college or grad school.
There’s also about 100 million Americans living on some form of government welfare. Government takes care of them. Whether the economy is open, or closed, they get a government check. So why would they want to rush back to work? They don’t work in the first place.
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That leaves only about 90 million Americans who actually work, earn, and pay taxes. 90 million out of 330 million. That’s who carries this entire economy on our backs.
But wait. It gets better. Of those 90 million, 22 million are government employees on the federal, state and local level. Some are great people. Some are heroes (law enforcement, first responders, etc.) But none of them relies on the US economy to get paid. When the economy is closed, they still get their paychecks, gold-plated healthcare packages and pensions.
So, after subtracting those 22 million government employees who have no real connection to whether the US economy is open, or not…
That leaves only 68 million Americans who truly depend on the US economy to pay their bills. That’s 68 million out of 330 million. That’s only about 20% of America.
But there’s one more poll that really ties it all together. Rasmussen recently asked Americans about going back to work. 71% of conservatives reported it’s time for the U.S. to get back to work, versus only 14% of liberals.
Folks, it’s very clear what’s going on here. Most of the people working are Republicans. Most of the people who rely on the US economy being open to pay bills are Republicans. We either work, or starve.
Democrats on the other hand either don’t need or want to work, or don’t depend on the private sector economy to survive. Many of them depend on governmentto pay their bills.
So now you understand why polls that show two thirds of Americans are in no hurry to go back to work. It’s because many of them don’t work in the first place, or don’t rely on the private sector in any way.
Democrats have spent a century chipping away at work. Making sure a majority of Americans rely on government, not work. So, when it comes time to re-open the economy, they just don’t care, or see the importance.
America is badly divided. We do live in different worlds. We do respond to this Coronavirus pandemic differently. Some of us need the economy to re-open, some of us are in no rush.
It’s all because of “The Democrat’s War on Work.”


investmentwatchblog--2020-05-14--Big Tech Is Turning Hospitals Into Real-Time Surveillance Centers

Recent events have come to light about hospital surveillance that should concern everyone .
Big Tech is using the pandemic as an excuse to turn hospitals into mirror images of law enforcement ’ s real-time crime centers .
When Google announced that they were donating 10,000 Nest cameras to hospitals , my jaw dropped .
What makes Google ’ s donation so jaw dropping is how Big Tech companies are using the pandemic to make them appear magnanimous .
Because nothing says reputation builder , like putting real-time surveillance cameras in patients rooms .
Not only will hospitals record patients @ @ @ @ @ @ @ doctors , hospital staff and anyone else who enters a patients room .
That also includes minors , so no one will be safe from Big Brother ’ s prying eyes .
As The Guardian found out , it also sends that information to Google servers .
Why would Google donate 10,000 Nest cameras to 6,146 hospitals ?
Because they are hoping that the staff and patients will grow accustomed to being surveilled 24/7 , and they hope hospitals will eventually purchase a Nest Aware subscription .
Nest cameras also record audio , @ @ @ @ @ @ @ for law enforcement .
Although a Google search of ‘ total hospital police departments in the U.S. ’ turned up nothing , we know that there are more than 6,000 hospitals and there are more than 17,000 law enforcement agencies in the U.S .
So if we were to make a conservative guess and say that at least half of America ’ s hospitals have police departments , that puts the number at roughly 3,075 .
Does anyone really think that 3,075 hospital police departments will return Google ’ s Nest cameras after @ @ @ @ @ @ @ Journal article warned that hospitals are also using thermal imaging to scan everyone entering hospitals .
Nest cameras are notorious for being easy to hack It is reprehensible to see how the mass media portrays Big tech in such a positive light as they slowly turn our hospitals into real-time surveillance centers .
A recent news release by Care.ai revealed that the largest hospital association in the country , the Texas Hospital Association ( THA ) is using Artificial Intelligence ( AI ) to monitor patients in real-time .
“ Through this new @ @ @ @ @ @ @ have the opportunity to experience the use of AI in a hands-on local lab environment .
They will get to see in real time the value that autonomous monitoring can bring to their facilities .
We ’ re proud to connect our members to cutting-edge technologies that have a transformative impact on healthcare delivery in Texas , ” Fernando Martinez , Ph.D. , president and CEO of the Texas Hospital Association Foundation said .
As THA ’ s “ history ” page notes , they are easily the largest health care association in @ @ @ @ @ @ @ respected health care association in the country ” thinks it is OK to use AI to monitor patients in real-time then America ’ s hospitals have truly become real-time surveillance centers .
Care ai ’ s business model is not built on helping patients recover from the coronavirus : it is built on monitoring patients in real-time .
According to Care ai they are continuously monitoring everyone in every Texas hospital room .
Care ai calls it a “ the self aware room ” , I call it the real-time surveillance room .
@ @ @ @ @ @ @ perverted them into three real-time surveillance devices .
The AMS-M1 , AMS-M2 and AMS-M2R smart devices are packed with cameras and deep learning sensors .
Question , if Google is donating 10,000 Nest Cameras and Care ai is using multiple smart devices equipped with cameras at what point do we ask , how many surveillance devices are too many ?
There is no word if Google plans to “ donate ” Nest Hub Max ’ s to hospitals but if they do , they would turn America ’ s hospitals into real-time facial @ @ @ @ @ @ @ to live in a future where hospitals mirror police department real-time crime centers ?
Once hospitals acquire surveillance technology , mission creep dictates that it will grow and grow until there is no turning back .

by mapi
Recent events have come to light about hospital surveillance that should concern everyone.
Big Tech is using the pandemic as an excuse to turn hospitals into mirror images of law enforcement’s real-time crime centers.
When Google announced that they were donating 10,000 Nest cameras to hospitals, my jaw dropped.
“With these Nest Cams, nurses and doctors will be able to check in on patients, supplementing in-person checks. This means there will be a reduction of physical contact, and therefore less of a need for personal protection equipment (PPE), which has fast become a scare resource.”
What makes Google’s donation so jaw dropping is how Big Tech companies are using the pandemic to make them appear magnanimous.
“With both contact tracing and the Nest Cam solution, however, Google needs to rebuild a reputation as a privacy concerned company due to the sensitive nature of both projects. It’s not going to be an easy task, but one that should remain at the forefront of all such efforts.”
Because nothing says reputation builder, like putting real-time surveillance cameras in patients rooms. Not only will hospitals record patients but they will record, nurses, doctors, hospital staff and anyone else who enters a patients room. That also includes minors, so no one will be safe from Big Brother’s prying eyes.
As The Guardian found out, it also sends that information to Google servers.
“However, Nest admits that when connected to Google’s “Works with Nest integration” system, which allows other devices such as ceiling fans, washing machines and car sensors to integrate with Nest’s products, it does share personal information with Google.”
Why would Google donate 10,000 Nest cameras to 6,146 hospitals? Because they are hoping that the staff and patients will grow accustomed to being surveilled 24/7, and they hope hospitals will eventually purchase a Nest Aware subscription.
Nest cameras also record audio, making them the perfect hospital surveillance tool for law enforcement. Although a Google search of ‘total hospital police departments in the U.S.’ turned up nothing, we know that there are more than 6,000 hospitals and there are more than 17,000 law enforcement agencies in the U.S.
So if we were to make a conservative guess and say that at least half of America’s hospitals have police departments, that puts the number at roughly 3,075. Does anyone really think that 3,075 hospital police departments will return Google’s Nest cameras after the pandemic?
A recent Wall Street Journal article warned that hospitals are also using thermal imaging to scan everyone entering hospitals.
We are primarily funded by readers. Please subscribe and donate to support us!
Nest cameras are notorious for being easy to hack
It is reprehensible to see how the mass media portrays Big tech in such a positive light as they slowly turn our hospitals into real-time surveillance centers.
A recent news release by Care.ai revealed that the largest hospital association in the country, the Texas Hospital Association (THA) is using Artificial Intelligence (AI) to monitor patients in real-time.
“Through this new partnership with care.ai, Texas hospitals will have the opportunity to experience the use of AI in a hands-on local lab environment. They will get to see in real time the value that autonomous monitoring can bring to their facilities. We’re proud to connect our members to cutting-edge technologies that have a transformative impact on healthcare delivery in Texas,” Fernando Martinez, Ph.D., president and CEO of the Texas Hospital Association Foundation said.
As THA’s “history” page notes, they are easily the largest health care association in the country.
“Today, THA is one of the largest, most respected health care associations in the country, and the only association that represents the entire Texas hospital industry. The Texas Hospital Association serves as the political and educational advocate for more than 430 hospitals and health systems statewide.”
If the “most respected health care association in the country” thinks it is OK to use AI to monitor patients in real-time then America’s hospitals have truly become real-time surveillance centers.
Care ai’s business model is not built on helping patients recover from the coronavirus: it is built on monitoring patients in real-time.
“Continuous monitoring that can locate and identify individuals and their behaviors in real time, minimizing risks before they happen.”
Care ai: monitoring and safeguarding patients in real time
According to Care ai they are continuously monitoring everyone in every Texas hospital room. Care ai calls it a “the self aware room”, I call it the real-time surveillance room.
Care ai has taken smart devices and perverted them into three real-time surveillance devices.
The AMS-M1, AMS-M2 and AMS-M2R smart devices are packed with cameras and deep learning sensors.
Question, if Google is donating 10,000 Nest Cameras and Care ai is using multiple smart devices equipped with cameras at what point do we ask, how many surveillance devices are too many?
There is no word if Google plans to “donate” Nest Hub Max’s to hospitals but if they do, they would turn America’s hospitals into real-time facial recognition centers.
Do we really want to live in a future where hospitals mirror police department real-time crime centers? Once hospitals acquire surveillance technology, mission creep dictates that it will grow and grow until there is no turning back.


investmentwatchblog--2020-05-14--MIC DROP: McEnany DUNKS on Liberal Hacks, Slams Obama Regime, Then Closes Her Book and Leaves the Ro

MIC DROP: McEnany DUNKS on Liberal Hacks, Slams Obama Regime, Then Closes Her Book and Leaves the Room

ZING !
WH Spokeswoman Kayleigh McEnany DUNKS on Liberal Hacks , Slams Obama Regime , Then Closes Her Book and @ @ @ @ @ hack asked Kayleigh if President Trump ’ s DOJ is investigating any Obama officials caught @ @ @ @ @ Kayleigh responded to the question , dunked on the corrupt Obama regime , closed her @ @ @ @ @ !
Kayleigh McEnany : “ For 3 years the American people were dragged through the @ @ @ @ @ for the President of the United States might have been a Russian asset , based @ @ @ @ @ .
This president was exonerated by the Mueller Report .
There ’ s some real @ @ @ @ @ individuals who were saying one thing publicly and another thing privately .
Thank you so @ @ @ @ @ 3 years the American people were dragged thru the mud & told their choice for @ @ @ @ @ might have been a russian asset , based on no evidence at all .
”

ZING! WH Spokeswoman Kayleigh McEnany DUNKS on Liberal Hacks, Slams Obama Regime, Then Closes Her Book and Leaves the Room
Tuesday’s presser was like a feel-good movie ending.
Some liberal hack asked Kayleigh if President Trump’s DOJ is investigating any Obama officials caught up in Obamagate scandal.
Kayleigh responded to the question, dunked on the corrupt Obama regime, closed her book and left the room!
Kayleigh McEnany: “For 3 years the American people were dragged through the mud and told their choice for the President of the United States might have been a Russian asset, based on no evidence at all. This president was exonerated by the Mueller Report. There’s some real questions for some of these individuals who were saying one thing publicly and another thing privately. Thank you so much!”
www.thegatewaypundit.com/2020/05/zing-wh-spokewoman-kayleigh-mcenany-dunks-liberal-hacks-slams-obama-regime-closes-book-leaves-room-video/
LINK TO SEGMENT MENTIONED:
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The Columbia Bugle
@ColumbiaBugle
Epic Ending to WH Press Conference
@PressSec Responding to Newly Released Transcripts From Obama Officials
“For 3 years the American people were dragged thru the mud & told their choice for the President of the U.S. might have been a russian asset, based on no evidence at all.”
Epic Ending to WH Press Conference@PressSec Responding to Newly Released Transcripts From Obama Officials "For 3 years the American people were dragged thru the mud & told their choice for the President of the U.S. might have been a russian asset, based on no evidence at all." pic.twitter.com/v32wzaBBnn — The Columbia Bugle 🇺🇸 (@ColumbiaBugle) May 12, 2020
VIDEO OF ENTIRE Q&A PORTION:
h/t CrsCrpr


investmentwatchblog--2020-05-14--John Solomon: ‘Everything about the Schiff-show is falling apart

Documents show Amb .
Yovanovitch ’ s impeachment testimony left out mention of Burisma meetings , letters ; insight from @ @ @ @ @ and Rep. Lee Zeldin , Republican member of the House Foreign Affairs Committee .
# @ @ @

Documents show Amb. Yovanovitch’s impeachment testimony left out mention of Burisma meetings, letters; insight from Fox News contributor John Solomon and Rep. Lee Zeldin, Republican member of the House Foreign Affairs Committee. #FoxNews #IngrahamAngle
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investmentwatchblog--2020-05-14--Global economy suffers unprecedented collapse amid COVID-19 pandemic

China ’ s consumers have lost their appetite for restaurants .
It ’ s an ominous sign for malls t.co/ifsMujvNaH

China’s consumers have lost their appetite for restaurants. It’s an ominous sign for malls t.co/ifsMujvNaH
— Bloomberg Next China (@next_china) May 14, 2020


investmentwatchblog--2020-05-14--“there’s no new net-liquidity” – The Druck

`` there 's no new net-liquidity '' – The Druck pic.twitter.com/duQK8Cbb5J

"there's no new net-liquidity" – The Druck pic.twitter.com/duQK8Cbb5J
— Volatility Quant (@VolatilityQ) May 14, 2020


investmentwatchblog--2020-05-14--The good news is that there apparently is no shortage of ‘dumb money’

The good news is that there apparently is no shortage of 'dumb money' The @ federalreserve is not a 'learning @ @ @ @ @ repeating the same mistakes .
Exactly as in the 1920s , the 1990 's & @ @ @ @ @ stable consumer prices blinded the Fed to the asset bubbles its policies were creating.t.co/5SLZfYGDCe pic.twitter.com/ph0dT1s6OA

The good news is that there apparently is no shortage of 'dumb money'
The @federalreserve is not a 'learning organization;' it keeps repeating the same mistakes. Exactly as in the 1920s, the 1990's & the post-2008 era, relatively stable consumer prices blinded the Fed to the asset bubbles its policies were creating.t.co/5SLZfYGDCe pic.twitter.com/ph0dT1s6OA
— Peter Schmidt (The 92ers) (@The92ers) May 14, 2020


investmentwatchblog--2020-05-14--Evidence Suggests U.S. Financial Crisis Started on August 14, 2019

By Pam Martens and Russ Martens : May 14 , 2020 ~ In the Federal Reserve ’ s most recent “ Supervision and Regulation Report ” on the big bank holding companies it “ supervises , ” the Fed continued its attempts to perpetuate the narrative that “ The banking industry came into 2020 in a healthy financial position ” and has simply unraveled as a result of the COVID-19 pandemic .
That narrative is built on the same flimsy house of cards that the New York Times and Andrew Ross-Sorkin built the narrative that the mega banks on Wall @ @ @ @ @ @ @ financial collapse .
The Fed is desperate to promote this narrative to stop a new Congress next year from holding hearings on why the Fed , for the second time in 12 years , had to engage in trillions of dollars in Wall Street bank bailouts after reassuring Congress for years that the financial system was fine as the Fed loosened or rolled back reforms like the Volcker Rule .
The Fed needs this narrative to prevail in order to cover up its own negligent supervision of the behemoth banks .
Depending on @ @ @ @ @ @ @ those hearings might bring about not only a restoration of the Glass-Steagall Act ( which bans trading houses on Wall Street from combining with federally-insured , deposit-taking banks ) but might also put an end to the Fed ’ s ability to negligently supervise the big banks with one hand , while bailing them out with the other hand , using money it creates out of thin air .
( The Fed will report its latest balance sheet tally today at 4:30 .
It is expected to be close to $ 7 trillion @ @ @ @ @ @ @ last week – which is $ 2.8 trillion more than it was exactly one year ago .
The growth in the Fed ’ s balance sheet has come as a result of efforts to prop up Wall Street banks . )
The Fed knew , or should have known ( since it has hundreds of people monitoring the markets at the New York Fed ) that there was a big banking crisis brewing in August of last year .
Here ’ s the timeline : On August 8 Reuters reported that the amount @ @ @ @ @ @ @ were 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 , either from a brewing crisis or a brewing economic downturn , or both .
On August 14 , the Wall Street Journal reported that “ Investors continued their run on bank stocks , sending shares of some of America ’ s biggest financial institutions @ @ @ @ @ @ @ trouble ahead for the U.S. economy.
” On that day , August 14 , the Dow Jones Industrial Average had plunged 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 August 14 , 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 10-year note .
This is viewed by market watchers as a harbinger of an impending recession .
Also notable on August 14 , the Financial Times reported that Germany , Europe ’ s largest economy , had contracted in the second quarter and its annualized growth was now the slowest in six years .
On August 15 , analysts at Zacks Equity Research wrote the following : “ It has been about a month since the last earnings report for JPMorgan Chase ( JPM ) .
Shares have lost about 8.1percent in @ @ @ @ @ @ @ & P 500.
” JPMorgan Chase is the largest bank in the U.S .
It holds more than $ 1.6 trillion in deposits for businesses and moms and pops across America .
On September 16 , 2019 the U.S. Department of Justice announced that it had indicted three of the bank ’ s traders for turning its precious metals desk into a criminal racketeering enterprise .
The bank ’ s traders , for the first time in history , were charged under the RICO statute , which is typically used to charge members @ @ @ @ @ @ @ bad news for any bank .
But if you are already a three-count felon , as is JPMorgan Chase , it is excruciatingly bad news .
In 2014 the U.S. Department of Justice charged the bank with two felony counts for the way it handled Ponzi-schemer Bernie Madoff ’ s business account for decades .
The bank told U.K. authorities it thought Madoff was running a Ponzi scheme but failed to share that information with U.S. authorities .
In 2015 the bank , along with other global banks , was charged with one @ @ @ @ @ @ @ rigging foreign exchange markets .
JPMorgan Chase pleaded guilty to all three felony counts .
Apparently the Fed didn ’ t see any pattern here and allowed Chairman and CEO Jamie Dimon to continue running the bank through three felony counts and the unprecedented racketeering charges of last year .
The very day after the U.S. Department of Justice brought the RICO charges , the Fed began an unprecedented intervention in the repo loan market as a result of a lack of liquidity which had driven overnight loan rates from about 2 percent @ @ @ @ @ @ @ By January 6 , the Fed had admitted that it had made more than $ 6 trillion cumulatively in emergency repo loans to the trading houses on Wall Street .
That was weeks before the first coronavirus outbreak had occurred in the United States .
For the Fed ’ s interventions from September 17 , 2019 forward , see our ongoing series here .

via wallstreetonparade
By Pam Martens and Russ Martens: May 14, 2020 ~
In the Federal Reserve’s most recent “Supervision and Regulation Report” on the big bank holding companies it “supervises,” the Fed continued its attempts to perpetuate the narrative that “The banking industry came into 2020 in a healthy financial position” and has simply unraveled as a result of the COVID-19 pandemic. That narrative is built on the same flimsy house of cards that the New York Times and Andrew Ross-Sorkin built the narrative that the mega banks on Wall Street were not responsible for the 2008 financial collapse.
The Fed is desperate to promote this narrative to stop a new Congress next year from holding hearings on why the Fed, for the second time in 12 years, had to engage in trillions of dollars in Wall Street bank bailouts after reassuring Congress for years that the financial system was fine as the Fed loosened or rolled back reforms like the Volcker Rule. The Fed needs this narrative to prevail in order to cover up its own negligent supervision of the behemoth banks.
Depending on the composition of Congress next year, those hearings might bring about not only a restoration of the Glass-Steagall Act (which bans trading houses on Wall Street from combining with federally-insured, deposit-taking banks) but might also put an end to the Fed’s ability to negligently supervise the big banks with one hand, while bailing them out with the other hand, using money it creates out of thin air. (The Fed will report its latest balance sheet tally today at 4:30. It is expected to be close to $7 trillion from the $6.7 trillion it reported last week – which is $2.8 trillion more than it was exactly one year ago. The growth in the Fed’s balance sheet has come as a result of efforts to prop up Wall Street banks.)
The Fed knew, or should have known (since it has hundreds of people monitoring the markets at the New York Fed) that there was a big banking crisis brewing in August of last year. Here’s the timeline:
On August 8 Reuters reported that the amount of government bonds around the globe that were 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, either from a brewing crisis or a brewing economic downturn, or both.
On August 14, 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 that day, August 14, the Dow Jones Industrial Average had plunged 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.
We are primarily funded by readers. Please subscribe and donate to support us!
Also on August 14, 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. This is viewed by market watchers as a harbinger of an impending recession.
Also notable on August 14, the Financial Times reported that Germany, Europe’s largest economy, had contracted in the second quarter and its annualized growth was now the slowest in six years.
On August 15, analysts at Zacks Equity Research wrote the following: “It has been about a month since the last earnings report for JPMorgan Chase (JPM). Shares have lost about 8.1percent in that time frame, underperforming the S&P 500.”
JPMorgan Chase is the largest bank in the U.S. It holds more than $1.6 trillion in deposits for businesses and moms and pops across America. On September 16, 2019 the U.S. Department of Justice announced that it had indicted three of the bank’s traders for turning its precious metals desk into a criminal racketeering enterprise. The bank’s traders, for the first time in history, were charged under the RICO statute, which is typically used to charge members of organized crime.
That would be bad news for any bank. But if you are already a three-count felon, as is JPMorgan Chase, it is excruciatingly bad news. In 2014 the U.S. Department of Justice charged the bank with two felony counts for the way it handled Ponzi-schemer Bernie Madoff’s business account for decades. The bank told U.K. authorities it thought Madoff was running a Ponzi scheme but failed to share that information with U.S. authorities. In 2015 the bank, along with other global banks, was charged with one criminal felony count for its role in rigging foreign exchange markets. JPMorgan Chase pleaded guilty to all three felony counts.
Apparently the Fed didn’t see any pattern here and allowed Chairman and CEO Jamie Dimon to continue running the bank through three felony counts and the unprecedented racketeering charges of last year.
The very day after the U.S. Department of Justice brought the RICO charges, the Fed began an unprecedented intervention in the repo loan market as a result of a lack of liquidity which had driven overnight loan rates from about 2 percent to 10 percent in one day. By January 6, the Fed had admitted that it had made more than $6 trillion cumulatively in emergency repo loans to the trading houses on Wall Street. That was weeks before the first coronavirus outbreak had occurred in the United States.
For the Fed’s interventions from September 17, 2019 forward, see our ongoing series here.


investmentwatchblog--2020-05-14--The Stupidity of Politicians Who Listened to Neil Ferguson

Today , the West is desperately trying to point the finger at China .
In doing so , they are trying to deflect the problem as the politicians who authorized this lockdown have demonstrated that they are not qualified to hold office in any capacity , even as court jesters , for they are not even funny .
I have often said that with each financial crisis they ask for recommendations .
NEVER has any committee just once asked if the proposed solution has ever been used before and what happened .
In the case of Neil Ferguson , either @ @ @ @ @ @ @ fraud for I do not see any other possibility .
An idiot because he only spoke to other epidemiologists and never ran by any economist what the cost of shutting down the entire economy would be .
Perhaps he is a fraud insofar as he knew the result and did so at the direction of Bill Gates to further his climate change agenda .
Why NO GOVERNMENT is grilling this guy until you can not tell if he is crying or sweating goes to the fact that the politicians realize what they have @ @ @ @ @ @ @ old days , they would be subjected to a death ritual reserved for traitors .
Why would any politician listen to Ferguson alone ?
Not a single economist was asked what would happen if they locked everyone down on Ferguson ’ s recommendation .
Throughout history , NEVER has any government EVER been so foolish as to lockdown the entire economy .
If someone was sick , they were quarantined .
That is why leper colonies were created throughout history to contain such diseases .
There are lessons that history has to offer @ @ @ @ @ @ @ begun .
Thucydides does not identify the disease which was the Plague of Athens that took the life of Pericles .
He does describe the body politic – the civil unrest which became a plague in Athens .
Remarking upon the “ spectacle of men dying like sheep , through having caught the infection in nursing each other , ” Thucydides notes that “ this sight led others to avoid the sick , emptying many houses of their residents for want of a nurse.
” As houses emptied and burial sites filled , @ @ @ @ @ @ @ the bodies of loved ones into the closest funeral pyre .
With the collapse of all rituals came the collapse of civil unrest , with men “ now coolly venturing on what they had formerly done in a corner.
” Now that there was no longer “ fear of gods or law of man , ” misrule became the rule .
Thucydides also records the morality of Pericles in a funeral speech he delivered .
Pericles gave praise to those Athenians who died in the war against Sparta , recalling the many reasons @ @ @ @ @ @ @ this list of political achievements an “ administration that favors the many and not the few , ” laws that “ provide equal justice to all , ” and a system where advancement depends on “ capacity and merit , ” not wealth and social standing .
However , Pericles also declared that Athenians , unlike other peoples , know that discussion and reflection are not “ stumbling blocks to action , but an indispensable preliminary to any wise action at all.
” Those who have wealth spend it “ more for use @ @ @ @ @ @ @ citizens who “ attend only to their private business have no business at all in Athens.
” This is how democracy works , Pericles concluded , and why Athens serves as “ school for all Greece.
” We have long forgotten these goals .
This virus is not merely the destroyer of worlds , it has also divided families .
Far too often the breach between believing this is all natural and the world should remain locked down tends to come from the youth who really have not entered society and know nothing @ @ @ @ @ @ @ So we see the clash unfolding which is indeed dividing families .
I know of youths who have chastised their parents as fools who should be cowering in a corner with a mask never to emerge without the approval of the state .
There may still be hope once they pass the age of 25 .

by Martin Armstrong
Today, the West is desperately trying to point the finger at China. In doing so, they are trying to deflect the problem as the politicians who authorized this lockdown have demonstrated that they are not qualified to hold office in any capacity, even as court jesters, for they are not even funny. I have often said that with each financial crisis they ask for recommendations. NEVER has any committee just once asked if the proposed solution has ever been used before and what happened.
In the case of Neil Ferguson, either he is a complete idiot or a fraud for I do not see any other possibility. An idiot because he only spoke to other epidemiologists and never ran by any economist what the cost of shutting down the entire economy would be. Perhaps he is a fraud insofar as he knew the result and did so at the direction of Bill Gates to further his climate change agenda. Why NO GOVERNMENT is grilling this guy until you cannot tell if he is crying or sweating goes to the fact that the politicians realize what they have done is also unprecedented. In the old days, they would be subjected to a death ritual reserved for traitors.
Why would any politician listen to Ferguson alone? Not a single economist was asked what would happen if they locked everyone down on Ferguson’s recommendation.
Throughout history, NEVER has any government EVER been so foolish as to lockdown the entire economy. If someone was sick, they were quarantined. That is why leper colonies were created throughout history to contain such diseases.
There are lessons that history has to offer. The breakdown of civil order has begun. Thucydides does not identify the disease which was the Plague of Athens that took the life of Pericles. He does describe the body politic – the civil unrest which became a plague in Athens.
Remarking upon the “spectacle of men dying like sheep, through having caught the infection in nursing each other,” Thucydides notes that “this sight led others to avoid the sick, emptying many houses of their residents for want of a nurse.”
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As houses emptied and burial sites filled, Athenians cast aside age-old traditions, throwing the bodies of loved ones into the closest funeral pyre. With the collapse of all rituals came the collapse of civil unrest, with men “now coolly venturing on what they had formerly done in a corner.” Now that there was no longer “fear of gods or law of man,” misrule became the rule.
Thucydides also records the morality of Pericles in a funeral speech he delivered. Pericles gave praise to those Athenians who died in the war against Sparta, recalling the many reasons for this sacrifice. Pericles included in this list of political achievements an “administration that favors the many and not the few,” laws that “provide equal justice to all,” and a system where advancement depends on “capacity and merit,” not wealth and social standing.
However, Pericles also declared that Athenians, unlike other peoples, know that discussion and reflection are not “stumbling blocks to action, but an indispensable preliminary to any wise action at all.” Those who have wealth spend it “more for use than for show,” while those citizens who “attend only to their private business have no business at all in Athens.” This is how democracy works, Pericles concluded, and why Athens serves as “school for all Greece.”
We have long forgotten these goals. This virus is not merely the destroyer of worlds, it has also divided families. Far too often the breach between believing this is all natural and the world should remain locked down tends to come from the youth who really have not entered society and know nothing about having to earn a living. So we see the clash unfolding which is indeed dividing families. I know of youths who have chastised their parents as fools who should be cowering in a corner with a mask never to emerge without the approval of the state. There may still be hope once they pass the age of 25.
Others have noted:
C (ORO) NA
oro = gold C N A 3 14 1 Pi 3,141


investmentwatchblog--2020-05-14--Biggest Corruption Scandal In American History

Tucker ’ s been having fantastic shows recently .
This one tops them !

Watch HANNITY, TUCKER CARLSON & LAURA INGRAHAM LAST EVENING
Tucker’s been having fantastic shows recently. This one tops them!
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AC


investmentwatchblog--2020-05-14--The Battle Over the Virus is Unsettling World Peace

The demand to investigate and blame China is really not entirely justified .
China did not order the lockdown on a global scale .
It seems like blaming China for the massive loss of jobs is like blaming the dog for eating your homework .
The problem is that there should be an investigation , but who is qualified to carry it out ?
Certainly not the agency of any government .
We can not even trust the United Nations .
How about we form an international committee with ZERO links to Bill Gates or the health organizations he manipulates @ @ @ @ @ @ @ and it MUST include NON-POLITICAL members .
It is clearly not some deliberate attack on China ’ s part .
If they were really trying to do that , they would have slipped it on a plane and started it somewhere else .
There are conspiracy theories that the US military planted it there , which is also unlikely .
Then there are those who look at who is profiting from the virus and staged practice sessions a few months before .
All fingers point to Bill Gates .
That conspiracy group believes @ @ @ @ @ @ @ he is the ONLY one who is profiting from this and is all over the world , demanding we remain locked down until he has his vaccine .
My recommendation to China is to propose a joint investigation that is trustworthy .
I strongly advise that China also cut off all funding to the World Health Organization and ban all health organizations that have any link to Bill Gates until a full review is provided by a non-corrupted panel .

by Martin Armstrong
The demand to investigate and blame China is really not entirely justified. China did not order the lockdown on a global scale. It seems like blaming China for the massive loss of jobs is like blaming the dog for eating your homework. The problem is that there should be an investigation, but who is qualified to carry it out? Certainly not the agency of any government. We cannot even trust the United Nations.
How about we form an international committee with ZERO links to Bill Gates or the health organizations he manipulates with donations. It MUST include China and it MUST include NON-POLITICAL members.
We are primarily funded by readers. Please subscribe and donate to support us!
It is clearly not some deliberate attack on China’s part. If they were really trying to do that, they would have slipped it on a plane and started it somewhere else. There are conspiracy theories that the US military planted it there, which is also unlikely. Then there are those who look at who is profiting from the virus and staged practice sessions a few months before. All fingers point to Bill Gates. That conspiracy group believes Bill Gates released it in China since he is the ONLY one who is profiting from this and is all over the world, demanding we remain locked down until he has his vaccine.
My recommendation to China is to propose a joint investigation that is trustworthy. I strongly advise that China also cut off all funding to the World Health Organization and ban all health organizations that have any link to Bill Gates until a full review is provided by a non-corrupted panel.


investmentwatchblog--2020-05-15--The U.S. Is Caught In An Economic Death Spiral, And One Group Is Being Hit Particularly Hard…

Many have been warning for years that our economic bubble would eventually burst and that a collapse was inevitably coming , but the ferocity of this new economic crisis has caught just about everyone off guard .
And even though some states have been attempting to “ reopen ” their economies in recent days , the job loss tsunami just continues to roll on .
Prior to this year , the all-time record for the most new unemployment claims in a single week was 695,000 .
That record was set all the way back in 1982 , and it had @ @ @ @ @ @ @ But now we have been absolutely dwarfing that number week after week .
On Thursday , we learned that another 2.9 million Americans filed initial claims for unemployment benefits last week , and that brings the grand total for this pandemic to more than 36 million… New filings for unemployment claims totaled just shy of 3 million for the most recent reporting period , a number that while still high declined for the sixth straight week , according to Labor Department figures Thursday .
The total 2.981 million new claims for unemployment insurance @ @ @ @ @ @ @ total to nearly 36.5 million , by far the biggest loss in U.S. history .
The count announced last week count was revised up by 7,000 to 3.176 million , putting the weekly decline at 195,000 between the two most recent reports .
To put that in perspective , at the lowest point of the Great Depression only 15 million Americans were unemployed .
Of course our population is quite a bit larger today , and so it isn ’ t a straightforward comparison .
But what everyone can agree on is the @ @ @ @ @ @ @ two month spike in unemployment like this in all of U.S. history .
And according to the Federal Reserve , low income workers are getting hit harder than anyone else… Sadly , this is what seems to happen every time that there is an economic downturn .
The powerless people on the bottom of the food chain get hurt the most , but the fat cats with political influence are able to get the big bailouts .
Millions of newly unemployed low income workers used to be employed by the restaurant industry , @ @ @ @ @ @ @ by this crisis… Of course most restaurant closings will never even make the news because they are small independent operations without corporate backing .
In the days ahead , we are going to see a “ restaurant apocalypse ” like we have never seen before in American history .
If you can believe it , one industry expert just told Bloomberg that about one-fourth of all U.S. restaurants will be closing down permanently… This is truly a great tragedy , and it is going to be so depressing to see so many buildings @ @ @ @ @ @ @ nation .
And things will be much , much different for the restaurants that are able to stay open .
For example , just check out the changes that are happening at McDonald ’ s… If that is what a trip to McDonald ’ s is going to be like , I don ’ t think that I will be visiting one for a long time to come .
What we really need is for the country to try to return to normal , but in some of the more liberal areas of @ @ @ @ @ @ @ happen for the foreseeable future .
So the U.S. economy will continue to be caught in this death spiral , and Fed Chair Jay Powell is warning that we could soon see a “ wave of bankruptcies ” from coast to coast… In particular , keep a close eye on the commercial real estate industry .
In order to service their loans , owners of commercial property need to successfully collect rent from their tenants , and right now many of those tenants are not able to pay .
For example , just @ @ @ @ @ @ @ York City commercial landlord is reporting… Unless there is some sort of a bailout , we are going to see commercial real estate carnage on a scale that is far greater than anything we have ever seen before .
Of course just about every industry needs a bailout at this point , and not everyone is going to get one .
Fear of COVID-19 did not create the conditions for this new economic crisis , but it did finally burst the debt-fueled economic bubble that was keeping conditions relatively stable the past few @ @ @ @ @ @ @ begun to spiral out of control , nobody is going to be able to put the pieces back together again , and the truth is that this is just the very beginning of our problems .
So many of the things that I have been warning about are starting to happen , and without a doubt our economy will continue to fall apart in the months ahead , but that does not mean that your life is over .
Yes , the days ahead will be exceedingly challenging , but heroes are born @ @ @ @ @ @ @ God has a plan for you , and I encourage you to be open to that no matter how radical that plan may turn out to be .

by Michael Snyder
Many have been warning for years that our economic bubble would eventually burst and that a collapse was inevitably coming, but the ferocity of this new economic crisis has caught just about everyone off guard. And even though some states have been attempting to “reopen” their economies in recent days, the job loss tsunami just continues to roll on. Prior to this year, the all-time record for the most new unemployment claims in a single week was 695,000. That record was set all the way back in 1982, and it had survived all the way until 2020. But now we have been absolutely dwarfing that number week after week. On Thursday, we learned that another 2.9 million Americans filed initial claims for unemployment benefits last week, and that brings the grand total for this pandemic to more than 36 million…
New filings for unemployment claims totaled just shy of 3 million for the most recent reporting period, a number that while still high declined for the sixth straight week, according to Labor Department figures Thursday. The total 2.981 million new claims for unemployment insurance filed last week brought the coronavirus crisis total to nearly 36.5 million, by far the biggest loss in U.S. history. The count announced last week count was revised up by 7,000 to 3.176 million, putting the weekly decline at 195,000 between the two most recent reports.
To put that in perspective, at the lowest point of the Great Depression only 15 million Americans were unemployed.
Of course our population is quite a bit larger today, and so it isn’t a straightforward comparison.
But what everyone can agree on is the fact that we have never seen a two month spike in unemployment like this in all of U.S. history.
And according to the Federal Reserve, low income workers are getting hit harder than anyone else…
The Federal Reserve Bank on Thursday reported just how unequally the coronavirus-induced economic downturn is hitting Americans. On one hand, lower-income people are getting slammed. Nearly 40% of those with a household income below $40,000 reported a job loss in March, according to the Economic Well-Being of US Households report.
Sadly, this is what seems to happen every time that there is an economic downturn.
The powerless people on the bottom of the food chain get hurt the most, but the fat cats with political influence are able to get the big bailouts.
Millions of newly unemployed low income workers used to be employed by the restaurant industry, but that industry has been absolutely decimated by this crisis…
The National Restaurant Association says some $30 billion was lost by its members in March, and $50 billion in April. In the last week alone, several restaurants have announced that they won’t re-open, including the buffet chain Souplantation and Sweet Tomatoes, Jen’s Grill in Chicago and Ristorant Franchino, which has been serving patrons in the San Francisco area for over 32 years.
Of course most restaurant closings will never even make the news because they are small independent operations without corporate backing.
In the days ahead, we are going to see a “restaurant apocalypse” like we have never seen before in American history. If you can believe it, one industry expert just told Bloomberg that about one-fourth of all U.S. restaurants will be closing down permanently…
Your favorite restaurant, now closed or only accepting take out orders due to the coronavirus, may never reopen, according to a top exec with reservation service OpenTable. Steve Hafner, CEO of Booking Holdings’ OpenTable and travel site Kayak, told Bloomberg that one out of every four restaurants won’t come back.
This is truly a great tragedy, and it is going to be so depressing to see so many buildings sitting empty in communities all across the nation.
And things will be much, much different for the restaurants that are able to stay open. For example, just check out the changes that are happening at McDonald’s…
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When McDonald’s restaurants reopen their dining rooms, customers should expect stickers on the floor encouraging social distancing and the closure of self-serve beverage bars. Workers wearing masks might check in with a thumbs up, or kindly ask you to move away from others.
If that is what a trip to McDonald’s is going to be like, I don’t think that I will be visiting one for a long time to come.
What we really need is for the country to try to return to normal, but in some of the more liberal areas of the U.S. that is not going to happen for the foreseeable future.
So the U.S. economy will continue to be caught in this death spiral, and Fed Chair Jay Powell is warning that we could soon see a “wave of bankruptcies” from coast to coast…
Federal Reserve Chief Jay Powell warned Wednesday of a potential “wave of bankruptcies” that could cause lasting harm to the world’s largest economy, and said more fiscal support may be needed to prevent the devastation, despite the massive cost. Powell, who has launched a host of key programs to support credit markets and provide funds directly to companies, said there are limits to how far the Fed can go.
In particular, keep a close eye on the commercial real estate industry.
In order to service their loans, owners of commercial property need to successfully collect rent from their tenants, and right now many of those tenants are not able to pay.
For example, just look at the numbers that one New York City commercial landlord is reporting…
A major New York City commercial landlord collected just 73 percent of its April office rent from tenants, with an increasing number defaulting on payments amid growing uncertainty over whether corporate buildings will become a thing of the past. Empire State Realty Trust, owner of the Empire State Building, collected only 73 percent of its office rents and 46 percent of its retail rents due in April.
Unless there is some sort of a bailout, we are going to see commercial real estate carnage on a scale that is far greater than anything we have ever seen before.
Of course just about every industry needs a bailout at this point, and not everyone is going to get one.
Fear of COVID-19 did not create the conditions for this new economic crisis, but it did finally burst the debt-fueled economic bubble that was keeping conditions relatively stable the past few years.
Now that our economy has begun to spiral out of control, nobody is going to be able to put the pieces back together again, and the truth is that this is just the very beginning of our problems.
So many of the things that I have been warning about are starting to happen, and without a doubt our economy will continue to fall apart in the months ahead, but that does not mean that your life is over.
Yes, the days ahead will be exceedingly challenging, but heroes are born when things are at their darkest.
God has a plan for you, and I encourage you to be open to that no matter how radical that plan may turn out to be.


investmentwatchblog--2020-05-15--MAJOR warning if you have a Great Lakes student loan right now

TLDR ; Great Lakes submitted the WRONG student loan status code to the three credit bureaus for ALL of their customers with student loans ( as part of the CARES act ) and it ’ s causing everyone ’ s credit scores to drop 40-50 points .
I ’ m in the midst of buying a house and my lender pulled my credit yesterday .
She told me what it was and I was shocked , it was lower than I thought .
I know numbers fluctuate from free services like Discover and Credit Karma , so I looked at @ @ @ @ @ @ @ two of the bureaus , and sure enough , a MAJOR drop of 45 points on both of them over a 4 day update period .
I know the numbers themselves aren ’ t super accurate , but the trends sure are .
I saw some articles on this subreddit today alluding to this issue but I wanted to verify the info .
I googled and found ONE article about this here .
It was actually pretty informative and accurate .
I called Great Lakes and a woman confirmed that it was true @ @ @ @ @ @ @ ‘ code ’ to the credit bureaus , essentially causing everyone ’ s student loans to look they are in REAL forbearance/deferral .
I asked if it was worth looking at my account to see if I was one of the ones affected and she told me that it wasn ’ t necessary because it affected everyone across the board .
Wut .
My follow up was ‘ when is this going to be fixed ?
’ and she said on May 31st they send their normal monthly report to the three bureaus @ @ @ @ @ @ @ there and will set everyone ’ s accounts back ( yeah right !
Trust but verify ! )
.
As for when the bureaus will fix it once they receive the new information , I am still sitting on hold with one of them now to find out .
The last thing I asked her was if this was written publicly anywhere so that I can show my lender proof of this information .
She said that they don ’ t have it posted anywhere .
WTF !
No press release , no @ @ @ @ @ @ @ know about something that affects so many people , yet there ’ s only one article on it .
I ’ ll update this post once I talk to someone at TransUnion .
What a crazy year .
EDIT : Since Credit Karma pulls Vantage Scores , I wanted to see what my FICO scores were .
I signed up for a free trial with Experian ’ s service that gives me access to all 3 bureaus ’ credit FICO 8 scores .
It also has , just for Experian scores , a @ @ @ @ @ @ @ mortgage , auto lending , and credit cards .
The only one that was slightly low , at the level my lender would have seen , was the mortgage one .
I can not see ‘ trends ’ here to see if it had dropped recently .
Conclusively , I can not confirm yet for SURE whether my lender uses a FICO 2 , FICO 8 , or Vantage score .
Going to talk to them this morning .
EDIT : Sidenote cuz I thought this was pretty cool : as part of @ @ @ @ @ @ @ and I would hope the other bureaus have something similar ) , you can use a ‘ score simulator ’ to click scenarios to see specifically what your credit score will do when you get a new credit card , pay off credit card balances , close down a credit card , etc .
Thought that was pretty cool .
It ’ s only on the FICO 8 score model though , not the mortgage , auto , or credit card one .
EDIT : My mortgage lender talked to the credit company @ @ @ @ @ @ @ scores to determine my rates : Experian : Fair Isaac v2Transunion – FICO Classic 4Equifax – FICO Classic In conclusion , I ’ m calling this the “ Great ” Mishap of 2020 .
As far as I know , unless anyone says otherwise in this thread to me , Great Lakes screwing up the code is only affecting the Vantage Score calculations ( used by Credit Karma ) and not Fair Isaac or FICO .
Last edit I swear : If you have student loans on automatic deferment because of CARES , @ @ @ @ @ @ @ high yield online savings account .
“ Pay ” the same monthly payment into that account every month .
If you have an emergency between now and September when payments are due again , you ’ ll have cash on hand .
If you don ’ t have an emergency , even better – take that massive lump sump you saved up with hopefully > 1.5 % interest , and make a massive payment on your loans – target the ones that HAD the highest interest rates .
It ’ s a win-win @ @ @ @ @ @ @ guest post and it doesn ’ t necessarily represent the views of IWB .

by ikegro
TLDR; Great Lakes submitted the WRONG student loan status code to the three credit bureaus for ALL of their customers with student loans (as part of the CARES act) and it’s causing everyone’s credit scores to drop 40-50 points.
I’m in the midst of buying a house and my lender pulled my credit yesterday. She told me what it was and I was shocked, it was lower than I thought. I know numbers fluctuate from free services like Discover and Credit Karma, so I looked at Credit Karma to see the numbers from two of the bureaus, and sure enough, a MAJOR drop of 45 points on both of them over a 4 day update period. I know the numbers themselves aren’t super accurate, but the trends sure are.
I saw some articles on this subreddit today alluding to this issue but I wanted to verify the info. I googled and found ONE article about this here. It was actually pretty informative and accurate.
I called Great Lakes and a woman confirmed that it was true: their company had provided the wrong ‘code’ to the credit bureaus, essentially causing everyone’s student loans to look they are in REAL forbearance/deferral. I asked if it was worth looking at my account to see if I was one of the ones affected and she told me that it wasn’t necessary because it affected everyone across the board. Wut.
My follow up was ‘when is this going to be fixed?’ and she said on May 31st they send their normal monthly report to the three bureaus and it will have the correction in there and will set everyone’s accounts back (yeah right! Trust but verify!). As for when the bureaus will fix it once they receive the new information, I am still sitting on hold with one of them now to find out.
The last thing I asked her was if this was written publicly anywhere so that I can show my lender proof of this information. She said that they don’t have it posted anywhere. WTF! No press release, no statement, NOTHING. Feels weird to know about something that affects so many people, yet there’s only one article on it.
I’ll update this post once I talk to someone at TransUnion. What a crazy year.
We are primarily funded by readers. Please subscribe and donate to support us!
EDIT: Since Credit Karma pulls Vantage Scores, I wanted to see what my FICO scores were. I signed up for a free trial with Experian’s service that gives me access to all 3 bureaus’ credit FICO 8 scores. It also has, just for Experian scores, a breakdown of a specific credit score for mortgage, auto lending, and credit cards. The only one that was slightly low, at the level my lender would have seen, was the mortgage one. I cannot see ‘trends’ here to see if it had dropped recently.
Conclusively, I cannot confirm yet for SURE whether my lender uses a FICO 2, FICO 8, or Vantage score. Going to talk to them this morning.
EDIT: Sidenote cuz I thought this was pretty cool: as part of the trial of the experian service (and I would hope the other bureaus have something similar), you can use a ‘score simulator’ to click scenarios to see specifically what your credit score will do when you get a new credit card, pay off credit card balances, close down a credit card, etc. Thought that was pretty cool. It’s only on the FICO 8 score model though, not the mortgage, auto, or credit card one.
EDIT: My mortgage lender talked to the credit company and they said they use the following scores to determine my rates:Experian: Fair Isaac v2Transunion – FICO Classic 4Equifax – FICO Classic
In conclusion, I’m calling this the “Great” Mishap of 2020. As far as I know, unless anyone says otherwise in this thread to me, Great Lakes screwing up the code is only affecting the Vantage Score calculations (used by Credit Karma) and not Fair Isaac or FICO.
Last edit I swear: If you have student loans on automatic deferment because of CARES, do yourself a favor and open a high yield online savings account. “Pay” the same monthly payment into that account every month. If you have an emergency between now and September when payments are due again, you’ll have cash on hand. If you don’t have an emergency, even better – take that massive lump sump you saved up with hopefully >1.5% interest, and make a massive payment on your loans – target the ones that HAD the highest interest rates. It’s a win-win scenario.
Disclaimer: This is a guest post and it doesn’t necessarily represent the views of IWB.