investmentwatchblog--2020-06-10--Engineering A Race War: Will This Be the American Police State’s Reichstag Fire?

by John Whitehead via The Rutherford Institute Watch and see : this debate over police brutality and accountability is about to get politicized into an election-year referendum on who should occupy the White House .
The Deep State , the powers-that-be , want us to turn this into a race war , but this is about so much more than systemic racism .
This is the oldest con game in the books , the magician ’ s sleight of hand that keeps you focused on the shell game in front of you while your wallet is being picked clean by @ @ @ @ @ @ @ s the Reichstag Fire all over again .
It was February 1933 , a month before national elections in Germany , and the Nazis weren ’ t expected to win .
So they engineered a way to win : they began by infiltrating the police and granting police powers to their allies ; then Hitler brought in stormtroopers to act as auxiliary police ; by the time an arsonist ( who claimed to be working for the Communists in the hopes of starting an armed revolt ) set fire to the Reichstag , @ @ @ @ @ @ @ were eager for a return to law and order .
That was all it took : Hitler used the attempted “ coup ” as an excuse to declare martial law and seize absolute power in Germany , establishing himself as a dictator with the support of the German people .
Fast forward to the present day , and what do we have ?
The nation in turmoil after months of pandemic fear-mongering and regional lockdowns , a national election looming , a president with falling poll numbers , and a police state that @ @ @ @ @ @ @ costs .
It ’ s entirely possible that Americans have finally reached a tipping point over police brutality after decades of abuse .
After all , until recently , the legislatures and the courts have marched in lockstep with the police state , repeatedly rebuffing efforts to hold police accountable for official misconduct .
Then again , it ’ s also equally possible that the architects of the police state have every intention of manipulating this outrage for their own purposes .
It works the same in every age .
As author Jim @ @ @ @ @ @ @ economic pressures , the media , mind control , agent provocateurs : thesis .
Counter it with totalitarian measures , more mind control , police crackdowns , surveillance , drugging of the population : antithesis .
What ensues is Orwell ’ s vision of 1984 , a society of total control : synthesis.
” Here ’ s what is going to happen : the police state is going to stand down and allow these protests , riots and looting to devolve into a situation where enough of the voting populace is so desperate @ @ @ @ @ @ @ that they will gladly relinquish some of their freedoms to achieve it .
And that ’ s how the police state will win , no matter which candidate gets elected to the White House .
You know who will lose ?
Every last one of us .
Listen , people should be outraged over what happened to George Floyd , but let ’ s get one thing straight : Floyd didn ’ t die merely because he was black and the cop who killed him is white .
Floyd died because America is @ @ @ @ @ @ @ badge—who are part of a government-run standing army that is waging war on the American people in the so-called name of law and order .
Not all cops are warrior cops , trained to act as judge , jury and executioner in their interactions with the populace .
Unfortunately , the good cops—the ones who take seriously their oath of office to serve and protect their fellow citizens , uphold the Constitution , and maintain the peace—are increasingly being outnumbered by those who believe the lives—and rights—of police should be valued more than @ @ @ @ @ @ @ paid by the citizenry , but they don ’ t work for us and they certainly aren ’ t operating within the limits of the U.S. Constitution .
This isn ’ t about racism in America .
This is about profit-driven militarism packaged in the guise of law and order , waged by greedy profiteers who have transformed the American homeland into a battlefield with militarized police , military weapons and tactics better suited to a war zone .
This is systemic corruption predicated on the police state ’ s insatiable appetite for @ @ @ @ @ @ @ is a military coup waiting to happen .
Why do we have more than a million cops on the taxpayer-funded payroll in this country whose jobs do not entail protecting our safety , maintaining the peace in our communities , and upholding our liberties ?
I ’ ll tell you why .
These warrior cops—fitted out in the trappings of war , drilled in the deadly art of combat , and trained to look upon “ every individual they interact with as an armed threat and every situation as a deadly force encounter @ @ @ @ @ @ @ s standing army .
This is the new face of war , and America has become the new battlefield .
Militarized police officers , the end product of the government—federal , local and state—and law enforcement agencies having merged , have become a “ standing ” or permanent army , composed of full-time professional soldiers who do not disband .
Yet these permanent armies are exactly what those who drafted the U.S. Constitution and Bill of Rights feared as tools used by despotic governments to wage war against its citizens .
American police @ @ @ @ @ @ @ branch of the military , nor were they meant to be private security forces for the reigning political faction .
Instead , they were intended to be an aggregation of countless local police units , composed of citizens like you and me that exist for a sole purpose : to serve and protect the citizens of each and every American community .
As a result of the increasing militarization of the police in recent years , however , the police now not only look like the military—with their foreboding uniforms and phalanx of @ @ @ @ @ @ @ as well .
Thus , no more do we have a civilian force of peace officers entrusted with serving and protecting the American people .
Instead , today ’ s militarized law enforcement officials have shifted their allegiance from the citizenry to the state , acting preemptively to ward off any possible challenges to the government ’ s power , unrestrained by the boundaries of the Fourth Amendment .
They don ’ t work for us .
As retired Philadelphia Police Captain Ray Lewis warned , “ Corporate America is using police forces @ @ @ @ @ @ @ a bill of goods .
For years now , we ’ ve been told that cops need military weapons to wage the government ’ s wars on drugs , crime and terror .
We ’ ve been told that cops need to be able to crash through doors , search vehicles , carry out roadside strip searches , shoot anyone they perceive to be a threat , and generally disregard the law whenever it suits them because they ’ re doing it to protect their fellow Americans from danger .
We ’ ve @ @ @ @ @ @ @ protections because of the risks they take .
None of that is true .
In fact , a study by a political scientist at Princeton University concludes that militarizing police and SWAT teams “ provide no detectable benefits in terms of officer safety or violent crime reduction.
” According to researcher Jonathan Mummolo , if police in America are feeling less safe , it ’ s because the process of transforming them into extensions of the military makes them less safe , less popular and less trust-worthy .
The study , the first @ @ @ @ @ @ @ of militarized force , reveals that “ police militarization neither reduces rates of violent crime nor changes the number of officers assaulted or killed.
” In other words , warrior cops aren ’ t making us or themselves any safer .
Militarized police armed with weapons of war who are allowed to operate above the law and break the laws with impunity are definitely not making America any safer or freer .
The problem , as one reporter rightly concluded , is “ not that life has gotten that much more dangerous , @ @ @ @ @ @ @ to respond to even innocent situations as if they were in a warzone.
” Consequently , Americans are now eight times more likely to die in a police confrontation than they are to be killed by a terrorist .
Militarism within the nation ’ s police forces is proving to be deadlier than any pandemic .
This battlefield mindset has gone hand in hand with the rise of militarized SWAT ( “ special weapons and tactics ” ) teams .
Frequently justified as vital tools necessary to combat terrorism and deal with rare @ @ @ @ @ @ @ as those involving hostages , SWAT teams have become intrinsic parts of local law enforcement operations , thanks in large part to substantial federal assistance and the Pentagon ’ s military surplus recycling program , which allows the transfer of military equipment , weapons and training to local police for free or at sharp discounts while increasing the profits of its corporate allies .
Where this becomes a problem of life and death for Americans is when these SWAT teams— outfitted , armed and trained in military tactics—are assigned to carry out relatively @ @ @ @ @ @ @ a search warrant .
Nationwide , SWAT teams have been employed to address an astonishingly trivial array of criminal activity or mere community nuisances : angry dogs , domestic disputes , improper paperwork filed by an orchid farmer , and misdemeanor marijuana possession , to give a brief sampling .
Remember , SWAT teams originated as specialized units dedicated to defusing extremely sensitive , dangerous situations .
They were never meant to be used for routine police work such as serving a warrant .
Unfortunately , the mere presence of SWAT units has @ @ @ @ @ @ @ violence into police-citizen interactions that was not present as long as these interactions were handled by traditional civilian officers .
There are few communities without a SWAT team today , and there are more than 80,000 SWAT team raids per year .
Yet the tension inherent in most civilian-police encounter these days can ’ t be blamed exclusively on law enforcement ’ s growing reliance on SWAT teams and donated military equipment .
It goes far deeper , to a transformation in the way police view themselves and their line of duty .
@ @ @ @ @ @ @ with today is a skewed shoot-to-kill mindset in which police , trained to view themselves as warriors or soldiers in a war , whether against drugs , or terror , or crime , must “ get ” the bad guys—i.e.
, anyone who is a potential target—before the bad guys get them .
The result is a spike in the number of incidents in which police shoot first , and ask questions later .
Making matters worse , when these officers , who have long since ceased to be peace officers , violate @ @ @ @ @ @ @ tasering , shooting and killing their employers—the taxpayers to whom they owe their allegiance—they are rarely given more than a slap on the hands before resuming their patrols .
This lawlessness on the part of law enforcement , an unmistakable characteristic of a police state , is made possible in large part by police unions which routinely oppose civilian review boards and resist the placement of names and badge numbers on officer uniforms ; police agencies that abide by the Blue Code of Silence , the quiet understanding among police that they should @ @ @ @ @ @ @ and misconduct ; prosecutors who treat police offenses with greater leniency than civilian offenses ; courts that sanction police wrongdoing in the name of security ; and legislatures that enhance the power , reach and arsenal of the police , and a citizenry that fails to hold its government accountable to the rule of law .
Indeed , not only are cops protected from most charges of wrongdoing—whether it ’ s shooting unarmed citizens ( including children and old people ) , raping and abusing young women , falsifying police reports , trafficking @ @ @ @ @ @ @ even on the rare occasions when they are fired for misconduct , it ’ s only a matter of time before they get re-hired again .
Much of the “ credit ” for shielding these rogue cops goes to influential police unions and laws providing for qualified immunity , police contracts that “ provide a shield of protection to officers accused of misdeeds and erect barriers to residents complaining of abuse , ” state and federal laws that allow police to walk away without paying a dime for their wrongdoing , and rampant @ @ @ @ @ @ @ s happening all across the country .
This is how perverse justice in America has become .
Incredibly , while our own Bill of Rights are torn to shreds , leaving us with few protections against government abuses , a growing number of states are adopting Law Enforcement Officers ’ Bill of Rights ( LEOBoR ) , which provide cops accused of a crime with special due process rights and privileges not afforded to the average citizen .
This , right here , epitomizes everything that is wrong with America today .
Even @ @ @ @ @ @ @ the side of justice , it ’ s the American taxpayer who ends up paying the price .
Because police officers are more likely to be struck by lightning than be held financially accountable for their actions .
As Human Rights Watch explains , taxpayers actually pay three times for officers who repeatedly commit abuses : “ once to cover their salaries while they commit abuses ; next to pay settlements or civil jury awards against officers ; and a third time through payments into police ‘ defense ’ funds provided by the @ @ @ @ @ @ @ doesn ’ t just go away because politicians and corporations suddenly become conscience-stricken in the face of mass protests and start making promises they don ’ t intend to keep .
As I explain in my book Battlefield America : The War on the American People , we need civic engagement and citizen activism , especially at the local level .
However , if it ends at the ballot box without achieving any real reform that holds government officials at all levels accountable to playing by the rules of the Constitution , then @ @ @ @

by John Whitehead via The Rutherford Institute
“Those who do not remember the past are condemned to repeat it.”— George Santayana
Watch and see: this debate over police brutality and accountability is about to get politicized into an election-year referendum on who should occupy the White House.
Don’t fall for it.
The Deep State, the powers-that-be, want us to turn this into a race war, but this is about so much more than systemic racism. This is the oldest con game in the books, the magician’s sleight of hand that keeps you focused on the shell game in front of you while your wallet is being picked clean by ruffians in your midst.
It’s the Reichstag Fire all over again.
It was February 1933, a month before national elections in Germany, and the Nazis weren’t expected to win. So they engineered a way to win: they began by infiltrating the police and granting police powers to their allies; then Hitler brought in stormtroopers to act as auxiliary police; by the time an arsonist (who claimed to be working for the Communists in the hopes of starting an armed revolt) set fire to the Reichstag, the German parliamentary building, the people were eager for a return to law and order.
That was all it took: Hitler used the attempted “coup” as an excuse to declare martial law and seize absolute power in Germany, establishing himself as a dictator with the support of the German people.
Fast forward to the present day, and what do we have? The nation in turmoil after months of pandemic fear-mongering and regional lockdowns, a national election looming, a president with falling poll numbers, and a police state that wants to stay in power at all costs.
Note the similarities?
It’s entirely possible that Americans have finally reached a tipping point over police brutality after decades of abuse. After all, until recently, the legislatures and the courts have marched in lockstep with the police state, repeatedly rebuffing efforts to hold police accountable for official misconduct.
Then again, it’s also equally possible that the architects of the police state have every intention of manipulating this outrage for their own purposes.
It works the same in every age.
As author Jim Keith explains, “Create violence through economic pressures, the media, mind control, agent provocateurs: thesis. Counter it with totalitarian measures, more mind control, police crackdowns, surveillance, drugging of the population: antithesis. What ensues is Orwell’s vision of 1984, a society of total control: synthesis.”
Here’s what is going to happen: the police state is going to stand down and allow these protests, riots and looting to devolve into a situation where enough of the voting populace is so desperate for a return to law and order that they will gladly relinquish some of their freedoms to achieve it. And that’s how the police state will win, no matter which candidate gets elected to the White House.
You know who will lose? Every last one of us.
Listen, people should be outraged over what happened to George Floyd, but let’s get one thing straight: Floyd didn’t die merely because he was black and the cop who killed him is white. Floyd died because America is being overrun with warrior cops—vigilantes with a badge—who are part of a government-run standing army that is waging war on the American people in the so-called name of law and order.
Not all cops are warrior cops, trained to act as judge, jury and executioner in their interactions with the populace. Unfortunately, the good cops—the ones who take seriously their oath of office to serve and protect their fellow citizens, uphold the Constitution, and maintain the peace—are increasingly being outnumbered by those who believe the lives—and rights—of police should be valued more than citizens.
These warrior cops may get paid by the citizenry, but they don’t work for us and they certainly aren’t operating within the limits of the U.S. Constitution.
This isn’t about racism in America.
This is about profit-driven militarism packaged in the guise of law and order, waged by greedy profiteers who have transformed the American homeland into a battlefield with militarized police, military weapons and tactics better suited to a war zone. This is systemic corruption predicated on the police state’s insatiable appetite for money, power and control.
This is a military coup waiting to happen.
Why do we have more than a million cops on the taxpayer-funded payroll in this country whose jobs do not entail protecting our safety, maintaining the peace in our communities, and upholding our liberties?
I’ll tell you why.
These warrior cops—fitted out in the trappings of war, drilled in the deadly art of combat, and trained to look upon “every individual they interact with as an armed threat and every situation as a deadly force encounter in the making—are the police state’s standing army.
This is the new face of war, and America has become the new battlefield.
Militarized police officers, the end product of the government—federal, local and state—and law enforcement agencies having merged, have become a “standing” or permanent army, composed of full-time professional soldiers who do not disband.
Yet these permanent armies are exactly what those who drafted the U.S. Constitution and Bill of Rights feared as tools used by despotic governments to wage war against its citizens.
American police forces were never supposed to be a branch of the military, nor were they meant to be private security forces for the reigning political faction. Instead, they were intended to be an aggregation of countless local police units, composed of citizens like you and me that exist for a sole purpose: to serve and protect the citizens of each and every American community.
As a result of the increasing militarization of the police in recent years, however, the police now not only look like the military—with their foreboding uniforms and phalanx of lethal weapons—but they function like them, as well.
Thus, no more do we have a civilian force of peace officers entrusted with serving and protecting the American people. Instead, today’s militarized law enforcement officials have shifted their allegiance from the citizenry to the state, acting preemptively to ward off any possible challenges to the government’s power, unrestrained by the boundaries of the Fourth Amendment.
They don’t work for us. As retired Philadelphia Police Captain Ray Lewis warned, “Corporate America is using police forces as their mercenaries.”
We are primarily funded by readers. Please subscribe and donate to support us!
We were sold a bill of goods.
For years now, we’ve been told that cops need military weapons to wage the government’s wars on drugs, crime and terror. We’ve been told that cops need to be able to crash through doors, search vehicles, carry out roadside strip searches, shoot anyone they perceive to be a threat, and generally disregard the law whenever it suits them because they’re doing it to protect their fellow Americans from danger. We’ve been told that cops need extra legal protections because of the risks they take.
None of that is true.
In fact, a study by a political scientist at Princeton University concludes that militarizing police and SWAT teams “provide no detectable benefits in terms of officer safety or violent crime reduction.” According to researcher Jonathan Mummolo, if police in America are feeling less safe, it’s because the process of transforming them into extensions of the military makes them less safe, less popular and less trust-worthy.
The study, the first systematic analysis on the use and consequences of militarized force, reveals that “police militarization neither reduces rates of violent crime nor changes the number of officers assaulted or killed.”
In other words, warrior cops aren’t making us or themselves any safer.
Militarized police armed with weapons of war who are allowed to operate above the law and break the laws with impunity are definitely not making America any safer or freer.
The problem, as one reporter rightly concluded, is “not that life has gotten that much more dangerous, it’s that authorities have chosen to respond to even innocent situations as if they were in a warzone.” Consequently, Americans are now eight times more likely to die in a police confrontation than they are to be killed by a terrorist.
Militarism within the nation’s police forces is proving to be deadlier than any pandemic.
This battlefield mindset has gone hand in hand with the rise of militarized SWAT (“special weapons and tactics”) teams.
Frequently justified as vital tools necessary to combat terrorism and deal with rare but extremely dangerous criminal situations, such as those involving hostages, SWAT teams have become intrinsic parts of local law enforcement operations, thanks in large part to substantial federal assistance and the Pentagon’s military surplus recycling program, which allows the transfer of military equipment, weapons and training to local police for free or at sharp discounts while increasing the profits of its corporate allies.
Where this becomes a problem of life and death for Americans is when these SWAT teams— outfitted, armed and trained in military tactics—are assigned to carry out relatively routine police tasks, such as serving a search warrant. Nationwide, SWAT teams have been employed to address an astonishingly trivial array of criminal activity or mere community nuisances: angry dogs, domestic disputes, improper paperwork filed by an orchid farmer, and misdemeanor marijuana possession, to give a brief sampling.
Remember, SWAT teams originated as specialized units dedicated to defusing extremely sensitive, dangerous situations. They were never meant to be used for routine police work such as serving a warrant. Unfortunately, the mere presence of SWAT units has actually injected a level of danger and violence into police-citizen interactions that was not present as long as these interactions were handled by traditional civilian officers.
There are few communities without a SWAT team today, and there are more than 80,000 SWAT team raids per year.
Yet the tension inherent in most civilian-police encounter these days can’t be blamed exclusively on law enforcement’s growing reliance on SWAT teams and donated military equipment.
It goes far deeper, to a transformation in the way police view themselves and their line of duty.
Specifically, what we’re dealing with today is a skewed shoot-to-kill mindset in which police, trained to view themselves as warriors or soldiers in a war, whether against drugs, or terror, or crime, must “get” the bad guys—i.e., anyone who is a potential target—before the bad guys get them. The result is a spike in the number of incidents in which police shoot first, and ask questions later.
Making matters worse, when these officers, who have long since ceased to be peace officers, violate their oaths by bullying, beating, tasering, shooting and killing their employers—the taxpayers to whom they owe their allegiance—they are rarely given more than a slap on the hands before resuming their patrols.
This lawlessness on the part of law enforcement, an unmistakable characteristic of a police state, is made possible in large part by police unions which routinely oppose civilian review boards and resist the placement of names and badge numbers on officer uniforms; police agencies that abide by the Blue Code of Silence, the quiet understanding among police that they should not implicate their colleagues for their crimes and misconduct; prosecutors who treat police offenses with greater leniency than civilian offenses; courts that sanction police wrongdoing in the name of security; and legislatures that enhance the power, reach and arsenal of the police, and a citizenry that fails to hold its government accountable to the rule of law.
Indeed, not only are cops protected from most charges of wrongdoing—whether it’s shooting unarmed citizens (including children and old people), raping and abusing young women, falsifying police reports, trafficking drugs, or soliciting sex with minors—but even on the rare occasions when they are fired for misconduct, it’s only a matter of time before they get re-hired again.
Much of the “credit” for shielding these rogue cops goes to influential police unions and laws providing for qualified immunity, police contracts that “provide a shield of protection to officers accused of misdeeds and erect barriers to residents complaining of abuse,” state and federal laws that allow police to walk away without paying a dime for their wrongdoing, and rampant cronyism among government bureaucrats.
It’s happening all across the country.
This is how perverse justice in America has become.
Incredibly, while our own Bill of Rights are torn to shreds, leaving us with few protections against government abuses, a growing number of states are adopting Law Enforcement Officers’ Bill of Rights (LEOBoR), which provide cops accused of a crime with special due process rights and privileges not afforded to the average citizen.
This, right here, epitomizes everything that is wrong with America today.
Even when the system appears to work on the side of justice, it’s the American taxpayer who ends up paying the price.
Literally.
Because police officers are more likely to be struck by lightning than be held financially accountable for their actions. As Human Rights Watch explains, taxpayers actually pay three times for officers who repeatedly commit abuses: “once to cover their salaries while they commit abuses; next to pay settlements or civil jury awards against officers; and a third time through payments into police ‘defense’ funds provided by the cities.”
Deep-seated corruption of this kind doesn’t just go away because politicians and corporations suddenly become conscience-stricken in the face of mass protests and start making promises they don’t intend to keep.
As I explain in my book Battlefield America: The War on the American People, we need civic engagement and citizen activism, especially at the local level. However, if it ends at the ballot box without achieving any real reform that holds government officials at all levels accountable to playing by the rules of the Constitution, then shame on us.


investmentwatchblog--2020-06-10--Charles Nenner – Cycle Says Trump Wins in 2020. Lower Highs, Lower Lows, Eventual Dow 5,000

Renowned geopolitical and financial cycle expert Charles Nenner sees , “ A reversal in rates long term , and they @ @ @ @ @ .
.
Rates are going to rise.
” On gold and silver , Nenner says @ @ @ @ @ “ $ 2,500 per ounce on gold and $ 20.50 on silver .
.
.
@ @ @ @ @ higher in the next few years .
.
.
.
Until 2026 in the gold @ @ @ @ @ to be a bull market.
” On President Trump getting re-elected , Nenner says , @ @ @ @ @ years , once the cycle on interest rates turns up , the party in the @ @ @ @ @ re-elected .
Isn ’ t that interesting ?
Don ’ t ask me why .
@ @ @ @ @ ( Trump ) he ’ s going to be the next President based on that @ @ @ @ @ as he goes One-on-One with cycle expert Charles Nenner .

Renowned geopolitical and financial cycle expert Charles Nenner sees, “A reversal in rates long term, and they are headed up. . . . Rates are going to rise.”
On gold and silver, Nenner says his next price targets are “$2,500 per ounce on gold and $20.50 on silver . . . And prices can go much higher in the next few years . . . . Until 2026 in the gold market, there is going to be a bull market.”
We are primarily funded by readers. Please subscribe and donate to support us!
On President Trump getting re-elected, Nenner says, “For the last 130 years, once the cycle on interest rates turns up, the party in the White House continues to be re-elected. Isn’t that interesting? Don’t ask me why. So, it looks like (Trump) he’s going to be the next President based on that cycle.”
Join Greg Hunter as he goes One-on-One with cycle expert Charles Nenner.


investmentwatchblog--2020-06-11--No, The U.S. Economy Will Definitely Not Be Returning To “Normal”. In Fact, Things Will Soon Get Eve

No, The U.S. Economy Will Definitely Not Be Returning To “Normal”. In Fact, Things Will Soon Get Even Worse.

2020 has been quite a year so far .
It has been one nightmare after another , and yet the economic optimists continue to insist that economic activity will soon snap back to normal levels somehow .
So the economic optimists aren ’ t really alarmed by the fact that the core areas of our major cities have been torched , gutted and looted by rioters , because they assume that all of this violence is just a temporary phenomenon and that any damage that has been done can be repaired .
And they aren ’ t really alarmed by @ @ @ @ @ @ @ starting to escalate again .
In fact , over the last seven days we have seen the number of newly confirmed cases around the globe hit levels that we have never seen before .
They just assume that “ the worst is behind us ” and that the vast majority of the businesses and jobs that have been lost during this pandemic will be quickly recovered .
Wouldn ’ t it be wonderful if they were actually correct ?
Sadly , the truth is that economic conditions will not be returning to normal @ @ @ @ @ @ @ that were lost will be recovered as states start to “ reopen ” their economies .
But more than 100,000 businesses have already permanently closed during this new economic downturn , and all of those jobs are lost forever .
And yes , the level of economic activity will rise as states end their lockdowns , but it will still be much lower than it was before COVID-19 started spreading like wildfire in the United States .
At this point , even the perpetually optimistic OECD is admitting that global economic activity as @ @ @ @ @ @ @ 2020… If a second outbreak is seen , the OECD forecasts global growth will plunge by 7.6 % in 2020 , and “ remain well short ” of its growth activity levels from 2019 , suggesting no V-shaped recovery .
If a second wave can be avoided , the OECD forecasts the world economy will still contract by 6 % this year and again fail to recover to pre-corona levels by the end of 2021 .
“ Both scenarios are sobering , as the economic activity does not and can not return to @ @ @ @ @ @ @ chief economist Laurence Boone wrote in the report .
A 6 or 7 percent decline in worldwide GDP is definitely not “ normal ” .
Actually , if this OECD projection turns out to be accurate , we will be talking about a “ global depression ” by the end of the year .
Here in the U.S. , a key measure of consumer optimism just dropped by 5.4 percent even though state economies all over the country are “ reopening ” … But all of the optimists keep telling me that things @ @ @ @ @ @ @ fact , they just keep on insisting that a new golden age for America is right around the corner .
Well , apparently the largest jewelry retailer in the U.S. doesn ’ t share that optimism , because they just announced that they will be closing at least 150 stores… Overall , the U.S. retail industry is facing a tsunami of store closings that is unlike anything we have ever seen before… That sure doesn ’ t sound like an “ economic recovery ” to me .
Meanwhile , the reckless money creation @ @ @ @ @ @ @ in is starting to show up in our food prices .
According to Nielsen , we have seen some startling food inflation over the past three months… Unfortunately , this is just the beginning .
The cost of living is going to continue to rise aggressively , and this comes at a time when more than 42 million Americans have already lost their jobs .
Yes , some of those jobs are starting to come back .
But more Americans continue to lose jobs each week as well .
And economic activity will @ @ @ @ @ @ @ everything was closed down .
But more businesses are shutting their doors permanently and declaring bankruptcy on a daily basis .
This new chapter in our economic history is just getting started , and a tremendous amount of pain is ahead of us .
Of course Fed Chair Jerome Powell completely disagrees with that assessment , and he is trying really hard to convince all of us that a new economic depression has not begun… And I would actually concur with Powell that what we are facing will not be very similar to @ @ @ @ @ @ @ In the long run , what we are facing will be far worse .
The “ perfect storm ” is here , and our economy is being shaken to the core .
Many people continue to be hopeful that the worst is now behind us , but what they don ’ t realize is that what we have experienced so far is just a warm up act for what is still to come .

by Michael Snyder
2020 has been quite a year so far. It has been one nightmare after another, and yet the economic optimists continue to insist that economic activity will soon snap back to normal levels somehow. So the economic optimists aren’t really alarmed by the fact that the core areas of our major cities have been torched, gutted and looted by rioters, because they assume that all of this violence is just a temporary phenomenon and that any damage that has been done can be repaired. And they aren’t really alarmed by the fact that the COVID-19 pandemic is starting to escalate again. In fact, over the last seven days we have seen the number of newly confirmed cases around the globe hit levels that we have never seen before. They just assume that “the worst is behind us” and that the vast majority of the businesses and jobs that have been lost during this pandemic will be quickly recovered.
Wouldn’t it be wonderful if they were actually correct?
Sadly, the truth is that economic conditions will not be returning to normal. Yes, some of the jobs that were lost will be recovered as states start to “reopen” their economies. But more than 100,000 businesses have already permanently closed during this new economic downturn, and all of those jobs are lost forever.
And yes, the level of economic activity will rise as states end their lockdowns, but it will still be much lower than it was before COVID-19 started spreading like wildfire in the United States.
At this point, even the perpetually optimistic OECD is admitting that global economic activity as a whole will be way down in 2020…
If a second outbreak is seen, the OECD forecasts global growth will plunge by 7.6% in 2020, and “remain well short” of its growth activity levels from 2019, suggesting no V-shaped recovery. If a second wave can be avoided, the OECD forecasts the world economy will still contract by 6% this year and again fail to recover to pre-corona levels by the end of 2021. “Both scenarios are sobering, as the economic activity does not and cannot return to normal under these circumstances,” OECD chief economist Laurence Boone wrote in the report.
A 6 or 7 percent decline in worldwide GDP is definitely not “normal”.
Actually, if this OECD projection turns out to be accurate, we will be talking about a “global depression” by the end of the year.
Here in the U.S., a key measure of consumer optimism just dropped by 5.4 percent even though state economies all over the country are “reopening”…
The IBD/TIPP Economic Optimism Index, a leading national poll on consumer confidence, declined by 5.4% in June. The index’s reading of 47.0 is at its lowest mark since September 2016. It also places the index in negative territory for the third consecutive month. For the IBD/TIPP indexes, a reading below 50.0 indicates pessimism.
But all of the optimists keep telling me that things are “getting better”.
In fact, they just keep on insisting that a new golden age for America is right around the corner.
Well, apparently the largest jewelry retailer in the U.S. doesn’t share that optimism, because they just announced that they will be closing at least 150 stores…
The world’s largest retailer of diamond jewelry says it will not reopen at least 150 of its North America stores that were temporarily shuttered in March due to the COVID-19 pandemic. Signet Jewelers, which operates 3,172 stores globally primarily under the name brands of Kay Jewelers, Zales, Jared The Galleria Of Jewelry and Piercing Pagoda, also plans to close an additional 150 stores by the end of its fiscal year, which ends in February 2021.
Overall, the U.S. retail industry is facing a tsunami of store closings that is unlike anything we have ever seen before…
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As many as 25,000 U.S. stores could close permanently this year after the coronavirus pandemic devastated an industry where many mall-based retailers were already struggling. The number would shatter the record set in 2019, when more than 9,800 stores closed their doors for good, according to a report from retail and tech data firm Coresight Research.
That sure doesn’t sound like an “economic recovery” to me.
Meanwhile, the reckless money creation that the Federal Reserve has been engaging in is starting to show up in our food prices. According to Nielsen, we have seen some startling food inflation over the past three months…
Market-research firm Nielsen said food prices rose 5.8% in the 13 weeks from March 1 to May 30 compared with the year-ago period.
Unfortunately, this is just the beginning. The cost of living is going to continue to rise aggressively, and this comes at a time when more than 42 million Americans have already lost their jobs.
Yes, some of those jobs are starting to come back.
But more Americans continue to lose jobs each week as well.
And economic activity will be higher than it was when virtually everything was closed down.
But more businesses are shutting their doors permanently and declaring bankruptcy on a daily basis.
This new chapter in our economic history is just getting started, and a tremendous amount of pain is ahead of us.
Of course Fed Chair Jerome Powell completely disagrees with that assessment, and he is trying really hard to convince all of us that a new economic depression has not begun…
Sure, unemployment’s only comparison is the Great Depression. And businesses across the country are closed. And many people are struggling to buy food. But Federal Reserve Chairman Jerome Powell doesn’t see any similarities. “I don’t think that the Great Depression is a good example or likely outcome for a model of what’s happening here at all, I really don’t,” he said. “There are so many fundamental differences.”
And I would actually concur with Powell that what we are facing will not be very similar to the Great Depression of the 1930s.
In the long run, what we are facing will be far worse.
The “perfect storm” is here, and our economy is being shaken to the core. Many people continue to be hopeful that the worst is now behind us, but what they don’t realize is that what we have experienced so far is just a warm up act for what is still to come.


investmentwatchblog--2020-06-11--As Businesses Flee The Violence, Will Major U.S. Cities Be Transformed Into Economic Wastelands?

Urban communities all over the U.S. are now facing the possibility of a mass exodus of businesses , and many local leaders are freaking out because they realize what such a mass exodus will mean for their cities .
In the aftermath of George Floyd ’ s death , peaceful protests were held in more than 300 cities all across America , and a recent CNN poll found that 84 percent of all Americans supported those peaceful protests .
Unfortunately , rioting , looting and violence also erupted in major cities from coast to coast , and very little was @ @ @ @ @ @ @ a result , the core areas of many of our largest cities now resemble war zones , and in the months ahead there will be a constant threat that the violence could flare up again at any time .
Needless to say , many businesses that have been torched or looted are going to be extremely hesitant to rebuild and start over in the same location when the same thing could easily happen again .
For example , one manufacturing company that proudly operated in the heart of Minneapolis for a long time @ @ @ @ @ @ @ the city for good… The owner of a manufacturing company based in Minneapolis has decided to move his factory after law enforcement was unable to protect the plant from burning during riots .
The plant shut down early in anticipation of the second night of riots and to ensure the safety of employees , the Minneapolis Star Tribune reported .
President and Owner of 7-Sigma Inc. Kris Wyrobek said a production supervisor and maintenance worker who live near the plant kept watch over the business and reported a fire at an apartment complex @ @ @ @ @ @ @ Mayor Lori Lightfoot is saying that it will require a “ Herculean effort ” to prevent a mass exodus of businesses from happening… Chicago Mayor Lori Lightfoot said it would take a “ Herculean effort ” to keep businesses open in disadvantaged neighborhoods after looting and damage that occurred during the first weekend of protests following the death of George Floyd .
“ I ’ ve been on calls and text messages with people all day who fought hard to bring economic development to areas of the city , only to see the @ @ @ @ @ @ @ store , everything vanish in an eye blink , ” Lightfoot said on a May 31 call with distraught aldermen .
“ It ’ s going to take a Herculean effort on the part of all of us to convince businesses not to disappear , to come back .
We ’ re prepared to fight that fight.
” Perhaps if a “ Herculean effort ” had been made to prevent the violence from happening in the first place , Chicago and other major cities would not be facing such a crisis today .
@ @ @ @ @ @ @ remain open in the heart of our major cities will now look a whole lot different than they did before .
In Manhattan , the Saks Fifth Avenue store now closely resembles the U.S. embassy in Baghdad… Of course most other stores in New York City did not take such precautions , and many of them got absolutely gutted as a result .
Thankfully , the violence has subsided in recent days , but chaos continues to reign in some of our biggest cities .
For example , a radical group of protesters @ @ @ @ @ @ @ of downtown Seattle and has dubbed it the “ Capitol Hill Autonomous Zone ” … As protesters around the country demand that cities defund their police departments , one group of demonstrators in Seattle is out to prove they don ’ t need the law enforcement officers .
On Tuesday night , protesters from what is now known as the “ Capitol Hill Autonomous Zone ” ( CHAZ ) were joined by other demonstrators as they briefly occupied Seattle ’ s City Hall .
Speakers called for the resignation of Mayor Jenny Durkan @ @ @ @ @ @ @ Department before leaving the building about 1 a.m. , chanting “ defund SPD ” as they returned to the zone .
In this “ autonomous zone ” , demonstrators are passing out free food to everyone and they want to show the world that society actually doesn ’ t need any police .
I am sure that their “ utopia ” will be fun for a few days , but soon they will run out of money to feed everyone and it will be very interesting to watch how they handle any serious @ @ @ @ @ @ @ , angry protesters all over the nation continue to attack statues , monuments and other political symbols .
In fact , in one part of California there have been several incidents where American flags have been set on fire… Hopefully things will start to cool down for a while , but everyone knows that another round of senseless violence could be sparked at any moment .
Yes , some businesses will stick it out and risk being torched or looted again , but many others will leave our major cities and never look @ @ @ @ @ @ @ could create a new cycle of crushing inner city poverty all over America , and that is something that none of us should want to see .

by Michael Snyder
Urban communities all over the U.S. are now facing the possibility of a mass exodus of businesses, and many local leaders are freaking out because they realize what such a mass exodus will mean for their cities. In the aftermath of George Floyd’s death, peaceful protests were held in more than 300 cities all across America, and a recent CNN poll found that 84 percent of all Americans supported those peaceful protests. Unfortunately, rioting, looting and violence also erupted in major cities from coast to coast, and very little was done to suppress that violence. As a result, the core areas of many of our largest cities now resemble war zones, and in the months ahead there will be a constant threat that the violence could flare up again at any time.
Needless to say, many businesses that have been torched or looted are going to be extremely hesitant to rebuild and start over in the same location when the same thing could easily happen again.
For example, one manufacturing company that proudly operated in the heart of Minneapolis for a long time has already made the decision to leave the city for good…
The owner of a manufacturing company based in Minneapolis has decided to move his factory after law enforcement was unable to protect the plant from burning during riots. The plant shut down early in anticipation of the second night of riots and to ensure the safety of employees, the Minneapolis Star Tribune reported. President and Owner of 7-Sigma Inc. Kris Wyrobek said a production supervisor and maintenance worker who live near the plant kept watch over the business and reported a fire at an apartment complex next door.
And in Chicago, Mayor Lori Lightfoot is saying that it will require a “Herculean effort” to prevent a mass exodus of businesses from happening…
Chicago Mayor Lori Lightfoot said it would take a “Herculean effort” to keep businesses open in disadvantaged neighborhoods after looting and damage that occurred during the first weekend of protests following the death of George Floyd. “I’ve been on calls and text messages with people all day who fought hard to bring economic development to areas of the city, only to see the Walgreens, the CVS, the grocery store, everything vanish in an eye blink,” Lightfoot said on a May 31 call with distraught aldermen. “It’s going to take a Herculean effort on the part of all of us to convince businesses not to disappear, to come back. We’re prepared to fight that fight.”
Perhaps if a “Herculean effort” had been made to prevent the violence from happening in the first place, Chicago and other major cities would not be facing such a crisis today.
And many of the businesses that will remain open in the heart of our major cities will now look a whole lot different than they did before.
In Manhattan, the Saks Fifth Avenue store now closely resembles the U.S. embassy in Baghdad…
The Saks Fifth Avenue flagship store in Manhattan is now lined with barbed wire fencing and attack dogs amid weeks of social unrest in the city. Reuters says the luxury retailer hired a third-party security firm to protect the store and associates. Amid these unprecedented times, it was found necessary to line the store with chainlink fencing with barb wire on top and private security guards with attack dogs.
Of course most other stores in New York City did not take such precautions, and many of them got absolutely gutted as a result.
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Thankfully, the violence has subsided in recent days, but chaos continues to reign in some of our biggest cities.
For example, a radical group of protesters has literally taken over a large chunk of downtown Seattle and has dubbed it the “Capitol Hill Autonomous Zone”…
As protesters around the country demand that cities defund their police departments, one group of demonstrators in Seattle is out to prove they don’t need the law enforcement officers. On Tuesday night, protesters from what is now known as the “Capitol Hill Autonomous Zone” (CHAZ) were joined by other demonstrators as they briefly occupied Seattle’s City Hall. Speakers called for the resignation of Mayor Jenny Durkan and the defunding of the Seattle Police Department before leaving the building about 1 a.m., chanting “defund SPD” as they returned to the zone.
In this “autonomous zone”, demonstrators are passing out free food to everyone and they want to show the world that society actually doesn’t need any police.
I am sure that their “utopia” will be fun for a few days, but soon they will run out of money to feed everyone and it will be very interesting to watch how they handle any serious crimes that start to happen.
Meanwhile, angry protesters all over the nation continue to attack statues, monuments and other political symbols. In fact, in one part of California there have been several incidents where American flags have been set on fire…
Police are investigating a string of arsons, targeting Citrus Heights homes with American flags on display. At least four homes were targeted in the Sungarden neighborhood early Saturday morning. So far, police say they don’t know the motive. A charred pole is all that’s left of the American Flag that had been flying outside Marie Nuzzi’s home.
Hopefully things will start to cool down for a while, but everyone knows that another round of senseless violence could be sparked at any moment.
Yes, some businesses will stick it out and risk being torched or looted again, but many others will leave our major cities and never look back.
In the end, this could create a new cycle of crushing inner city poverty all over America, and that is something that none of us should want to see.


investmentwatchblog--2020-06-11--The Chilling Things Delta Said about the Airline Business, the 90% Collapse in Q2 Revenues, and Why

The Chilling Things Delta Said about the Airline Business, the 90% Collapse in Q2 Revenues, and Why Some Demand Destruction May Be “Permanent”

Shares go to heck after the mother of all revenue-warnings , plunge 20 % in two days , including 7 % after hours .
Its disclosure confirms Buffett ’ s decision to dump his airlines in mid-crash .
Delta Airlines came out with the mother of all revenue-warnings when it said in an SEC filing this morning that its revenues in the second quarter , ending June 30 , would collapse by 90 % compared to the second quarter last year .
In addition to the collapse of demand , it has “ experienced significant ticket cancellations ” ( refunds @ @ @ @ @ @ @ and it has waved change fees , which used to be a big profit center , and it is giving out “ other refunds , ” and they all “ have negatively affected our revenues and liquidity , and we expect such negative effects to continue.
” And it can not predict the effects of this unpredictable future , not even the near-term effects .
“ The longer the pandemic persists , the more material the ultimate effects are likely to be , ” Delta said .
“ It is likely that there @ @ @ @ @ @ @ can not presently predict , including effects.
” It added a slew of dismal data points and warnings , along with the hoops it has already jumped through and still needs to jump through to stay in business , including billions of dollars in help from the taxpayer .
It was a doom-and-gloom report that not even a sworn doom-and-gloomer would have been able to imagine not too long ago .
Delta ’ s shares dropped 7.4 % during regular hours , and another 7.0 % after hours , to $ 29.40 , @ @ @ @ @ @ @ .
It seems , some people knew yesterday what Delta would announce this morning .
Over those two days combined , including after hours today , shares have plunged 20.3 % .
Delta ’ s 90 % -revenue collapse in Q2 came even as travel restrictions have begun “ to ease , ” it said .
In response to the collapse in demand , Delta has cut its capacity system-wide by 85 % .
As demand returns , it plans on rebuilding its flight schedule .
This is an industry-wide problem .
According @ @ @ @ @ @ @ US airports – a measure of how many people are getting on a plane – were still down 86.1 % yesterday , compared to the same weekday last year .
This has been inching up only in tiny increments .
TSA checkpoint screenings over the Memorial Day weekend were down around 87 % .
During the worst days two months ago , screenings were down 95 % : Only a “ modest ” demand recovery .
And some demand destruction could be “ permanent.
” Delta said that “ we believe ” that @ @ @ @ @ @ @ demand recovery , particularly with domestic leisure travel beginning to return as states lift shelter-in-place orders.
” But it expects international demand to “ lag ” domestic demand .
Demand issues could drag on as private and public sector employers have switched to work form home and are “ otherwise dissuading or restricting air travel , ” it said .
Conventions , conferences , big sporting events , concerts , and similar events “ have been , and are continuing to be , cancelled , reducing the demand for both business air travel @ @ @ @ @ @ @ sales ) and leisure air travel.
” And some demand destruction could be “ permanent.
” Delta said it can not predict whether the pandemic “ will result in permanent changes to our customers ’ behavior , ” such as “ a permanent reduction in business travel as a result of increased usage of ‘ virtual ’ and ‘ teleconferencing ’ products and more broadly a general reluctance to travel by consumers.
” People may be “ dissuaded from flying… ” Delta lists some reasons that may dissuade people from getting on a @ @ @ @ @ @ @ airports and planes “ where they may view the risk of contagion as increased ” ; • “ Concern that additional travel restrictions implemented between their departure and return may affect their ability to return to their homes.
” The mad scramble to stanch the cash bleed .
Delta expects to reduce average daily cash outflow to about $ 40 million per day by June 30 , down from about $ 100 million per day as of March 30 .
This reduction in cash outflow is a result of two factors : • @ @ @ @ @ @ @ over 50 % • The “ recent improvement in net sales , ” in part due to the “ stabilization in refund requests.
” It is already implementing or is considering other cost cuts , “ such as deferral of nonessential maintenance , capital expenditure reductions , voluntary early retirement and opt-out programs , hiring freezes , facility closures , deferral of pension funding , and compensation reductions.
” Alas , yup , all these cuts “ could also negatively affect our service to customers , revenues and results of operations.
” But @ @ @ @ @ @ @ The goal is to reduce the average daily cash bleed “ to zero ” by the end of the year , it said .
To get there , it expects to cut costs further , and demand will have to pick up .
Delta has raised “ more than $ 10 billion ” since early March , it said .
At a burn-rate of $ 100 million a day , as was the case at the end of March , this would have lasted a little over three months .
At the burn-rate @ @ @ @ @ @ @ June 30 , the breathing room lengthens .
This “ more than $ 10 billion ” in cash came from these sources : • $ 3.8 billion from taxpayers via the Payroll Support Program in the CARES Act .
The package , when released in full , will be $ 5.4 billion : $ 1 billion in loans at an interest rate of 1 % for five years ; and $ 4.4 billion in warrants with a five-year term and an exercise price of $ 24.39 per share .
Aircraft , “ some @ @ @ @ @ @ @ have not yet been pledged as collateral amount to “ $ 6-7 billion of unencumbered collateral ” that could be used as collateral for more debt , to raise more cash .
Some of the “ unencumbered ” aircraft might also be sold and leased back .
Since March 31 , Delta has already raised $ 1.2 billion from such sale-leaseback transactions .
These leases are a form of debt .
Delta said it will classify them as “ other noncurrent liabilities.
” And they can get expensive .
But hey , the @ @ @ @ @ @ @ is survival .
And it said that it still has borrowing capacity under its revolving credit facilities .
The goal is to pile up as much cash as possible to get through this and worry about the mountain of debt later .
This is the most unpredictable future ever .
“ We are unable to predict how long these conditions will persist , what additional measures may be introduced by governments or private parties or what effect any such additional measures may have on air travel and our business , ” Delta said @ @ @ @ @ @ @ the duration of the pandemic and future correlative combative measures at present unknown , the overall situation is extremely fluid , and it is impossible to predict the timing of future material changes in the situation , ” it said .
“ It therefore is impossible to predict whether any such unknown future developments will occur in the near , medium or long terms , and depending on the duration of the pandemic , such negative developments may occur over the entirety of the event , ” it said .
Warren Buffett sold @ @ @ @ @ @ @ huge position in Delta in mid-March , when everything appeared to go to heck in a straight line .
This was an unusual move for him : Blood was on the tarmac , and that would normally have been a buy-signal .
But he dumped his shares .
For him , the entire equation for airlines changed .
For him , this wasn ’ t a short-term blip followed by a steep V-shaped recovery , but a long-term structural issue that would leave the survivors burdened with so much debt and so many @ @ @ @ @ @ @ new normal , whatever that would be , would stretch over years for the lucky ones .
And Delta today confirmed those fears .

Shares go to heck after the mother of all revenue-warnings, plunge 20% in two days, including 7% after hours. Its disclosure confirms Buffett’s decision to dump his airlines in mid-crash.
By Wolf Richter for WOLF STREET.
Delta Airlines came out with the mother of all revenue-warnings when it said in an SEC filing this morning that its revenues in the second quarter, ending June 30, would collapse by 90% compared to the second quarter last year.
In addition to the collapse of demand, it has “experienced significant ticket cancellations” (refunds are counted as negative revenues), and it has waved change fees, which used to be a big profit center, and it is giving out “other refunds,” and they all “have negatively affected our revenues and liquidity, and we expect such negative effects to continue.”
And it cannot predict the effects of this unpredictable future, not even the near-term effects. “The longer the pandemic persists, the more material the ultimate effects are likely to be,” Delta said. “It is likely that there will be future negative effects that we cannot presently predict, including near term effects.”
It added a slew of dismal data points and warnings, along with the hoops it has already jumped through and still needs to jump through to stay in business, including billions of dollars in help from the taxpayer. It was a doom-and-gloom report that not even a sworn doom-and-gloomer would have been able to imagine not too long ago.
Delta’s shares dropped 7.4% during regular hours, and another 7.0% after hours, to $29.40, after having already dropped 7.6% yesterday. It seems, some people knew yesterday what Delta would announce this morning. Over those two days combined, including after hours today, shares have plunged 20.3%.
Delta’s 90%-revenue collapse in Q2 came even as travel restrictions have begun “to ease,” it said.
In response to the collapse in demand, Delta has cut its capacity system-wide by 85%. As demand returns, it plans on rebuilding its flight schedule.
This is an industry-wide problem. According to the TSA, checkpoint screenings at US airports – a measure of how many people are getting on a plane – were still down 86.1% yesterday, compared to the same weekday last year. This has been inching up only in tiny increments. TSA checkpoint screenings over the Memorial Day weekend were down around 87%. During the worst days two months ago, screenings were down 95%:
Only a “modest” demand recovery. And some demand destruction could be “permanent.”
Delta said that “we believe” that there will be a “modest continued demand recovery, particularly with domestic leisure travel beginning to return as states lift shelter-in-place orders.” But it expects international demand to “lag” domestic demand.
Demand issues could drag on as private and public sector employers have switched to work form home and are “otherwise dissuading or restricting air travel,” it said.
Conventions, conferences, big sporting events, concerts, and similar events “have been, and are continuing to be, cancelled, reducing the demand for both business air travel (which drives our most profitable ticket sales) and leisure air travel.”
And some demand destruction could be “permanent.” Delta said it cannot predict whether the pandemic “will result in permanent changes to our customers’ behavior ,” such as “a permanent reduction in business travel as a result of increased usage of ‘virtual’ and ‘teleconferencing’ products and more broadly a general reluctance to travel by consumers.”
People may be “dissuaded from flying…”
Delta lists some reasons that may dissuade people from getting on a plane, including:
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Wariness of airports and planes “where they may view the risk of contagion as increased”;
Dislike of “enhanced COVID-19-related screening measures” at airports;
“Concern that additional travel restrictions implemented between their departure and return may affect their ability to return to their homes.”
The mad scramble to stanch the cash bleed.
Delta expects to reduce average daily cash outflow to about $40 million per day by June 30, down from about $100 million per day as of March 30. This reduction in cash outflow is a result of two factors:
Having slashed operating expenses in Q2 by over 50%
The “recent improvement in net sales,” in part due to the “stabilization in refund requests.”
It is already implementing or is considering other cost cuts, “such as deferral of nonessential maintenance, capital expenditure reductions, voluntary early retirement and opt-out programs, hiring freezes, facility closures, deferral of pension funding, and compensation reductions.”
Alas, yup, all these cuts “could also negatively affect our service to customers, revenues and results of operations.”
But hey, this is survival mode. The goal is to reduce the average daily cash bleed “to zero” by the end of the year, it said. To get there, it expects to cut costs further, and demand will have to pick up.
The mad scramble to raise cash.
Delta has raised “more than $10 billion” since early March, it said. At a burn-rate of $100 million a day, as was the case at the end of March, this would have lasted a little over three months. At the burn-rate of $40 million a day by June 30, the breathing room lengthens.
This “more than $10 billion” in cash came from these sources:
$3.8 billion from taxpayers via the Payroll Support Program in the CARES Act. The package, when released in full, will be $5.4 billion: $1 billion in loans at an interest rate of 1% for five years; and $4.4 billion in warrants with a five-year term and an exercise price of $24.39 per share.
$3.5 billion from issuing senior secured notes due 2027.
$4.4 billion from two loan facilities.
There’s still some “unencumbered collateral” left.
Aircraft, “some engines,” and spare parts that have not yet been pledged as collateral amount to “$6-7 billion of unencumbered collateral” that could be used as collateral for more debt, to raise more cash.
Some of the “unencumbered” aircraft might also be sold and leased back. Since March 31, Delta has already raised $1.2 billion from such sale-leaseback transactions. These leases are a form of debt. Delta said it will classify them as “other noncurrent liabilities.” And they can get expensive. But hey, the only thing that matters at the moment is survival.
And it said that it still has borrowing capacity under its revolving credit facilities. The goal is to pile up as much cash as possible to get through this and worry about the mountain of debt later.
This is the most unpredictable future ever.
“We are unable to predict how long these conditions will persist, what additional measures may be introduced by governments or private parties or what effect any such additional measures may have on air travel and our business,” Delta said.
“Furthermore, not only is the duration of the pandemic and future correlative combative measures at present unknown, the overall situation is extremely fluid, and it is impossible to predict the timing of future material changes in the situation,” it said.
“It therefore is impossible to predict whether any such unknown future developments will occur in the near, medium or long terms, and depending on the duration of the pandemic, such negative developments may occur over the entirety of the event,” it said.
Warren Buffett sold all his airline stocks, including his huge position in Delta in mid-March, when everything appeared to go to heck in a straight line. This was an unusual move for him: Blood was on the tarmac, and that would normally have been a buy-signal. But he dumped his shares.
For him, the entire equation for airlines changed. For him, this wasn’t a short-term blip followed by a steep V-shaped recovery, but a long-term structural issue that would leave the survivors burdened with so much debt and so many uncertainties that the flight path to the new normal, whatever that would be, would stretch over years for the lucky ones. And Delta today confirmed those fears.


investmentwatchblog--2020-06-12--Ronald Peter Stöeferle: Indications Point to $8,900 Gold Price

Gold is one of the few reliable recession hedges .
The big question now is , will this recession be @ @ @ @ @ be worldwide , or will it be a full-fledged depression .
What matters is the @ @ @ @ @ and government , which so far are unprecedented .

Gold is one of the few reliable recession hedges. The big question now is, will this recession be very dramatic, will it be worldwide, or will it be a full-fledged depression. What matters is the steps taken by central bankers and government, which so far are unprecedented.
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investmentwatchblog--2020-06-12--Ocean City Police investigating after large brawl breaks out on boardwalk, beach. Racially motivated

Ocean City Police investigating after large brawl breaks out on boardwalk, beach. Racially motivated?

OCEAN CITY , Md .
( WJZ ) — Recent violence in Ocean City , Maryland , is raising concerns @ @ @ @ @ just starting off the tourist season .
Cellphone video taken Tuesday night captured a fight @ @ @ @ @ The video appears to show a large group of people on the boardwalk , and @ @ @ @ @ person appears to get hit , and fall motionless to the ground .
The crowd @ @ @ @ @ to be another fight .

Damn…
OCEAN CITY, Md. (WJZ) — Recent violence in Ocean City, Maryland, is raising concerns from local officials who are just starting off the tourist season.
Cellphone video taken Tuesday night captured a fight on the board walk.
The video appears to show a large group of people on the boardwalk, and a brawl breaks. One person appears to get hit, and fall motionless to the ground.
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The crowd moves around before what appears to be another fight.
baltimore.cbslocal.com/2020/06/10/ocean-city-maryland-boardwalk-fights-latest/
h/t BFD


investmentwatchblog--2020-06-12--Black Lives Matter isn’t interested in fighting actual racism. But it is interested in whether you s

Black Lives Matter isn’t interested in fighting actual racism. But it is interested in whether you support its agenda—and getting you fired if you don’t—-Thoughtcrime

What is the purpose of controlling speech ?
To make it seem that you are the only one with that viewpoint .
There will be no opting out of the Black Lives Matter movement .
You ’ re either for BLM or against it—and if you ’ re against it , you ’ re a racist .
You will either support BLM publicly and enthusiastically , or you will be harassed , shunned , and shamed out of mainstream America .
If you dare to speak a word against BLM , you will be targeted , mobbed , and probably @ @ @ @ @ @ @ coming through loud and clear , not just from protesters but from corporations and institutions desperate to seem woke enough to escape the wrath of the BLM movement .
It doesn ’ t matter what your job or profession might be .
It doesn ’ t matter if you ’ re in a position of power or prestige—in fact being in a position of power might make you more of a target .
The only thing that can protect you from the BLM movement ’ s punitive rage is fealty .
Bend the @ @ @ @ @ @ @ .
Then again , you might not .
The list of people who have lost their jobs or been suspended for criticizing or even questioning the BLM movement is long—and growing daily .
Most prominent on the list is erstwhile New York Times opinion page editor James Bennet , who “ resigned ” under pressure from woke NYT staffers after he ran an op-ed by Republican Sen. Tom Cotton that made the uncontroversial case that the U.S. military should be deployed if police can ’ t get riots under control .
Then there @ @ @ @ @ @ @ the Philadelphia Inquirer , forced to resign over a headline of an architecture column that read , “ Buildings Matter , Too , ” which ran after scores of buildings in downtown Philly had been destroyed by rioters .
Bon Appétit editor-in-chief Adam Rapoport stepped down Monday after a piece he published genuflecting to BLM was deemed insufficient by staffers who claim there ’ s a discriminatory culture at the magazine .
Also , someone posted a 13-year-old photo of Rappaport in a Halloween costume that some people thought was offensive .
Claudia @ @ @ @ @ @ @ forced to take administrative leave after she got into a Twitter spat with a woman of South Asian descent who thought a piece Eller wrote lamenting the lack of diversity at the magazine wasn ’ t obsequious enough .
On and on it goes .
NBA announcer Grant Napear was fired from his sports talk radio program and resigned as the Sacramento Kings announcer after tweeting “ all lives matter.
” A professor at UCLA was placed on leave after refusing to cancel a final exam following the death of George Floyd .
@ @ @ @ @ @ @ step down as Wales Book of the Year Judge after complaining that a BLM protest violated the government ’ s social distancing rules .
A cast member for MTV ’ s reality competition series “ The Challenge ” was fired after writing “ people die every f–king day ” in response to an Instagram comment about George Floyd .
Professional soccer player Aleksander Katai was “ released ” by the LA Galaxy not for anything he wrote or said , but because his wife criticized BLM on Instagram .
A former Canadian cabinet @ @ @ @ @ @ @ television that he didn ’ t think Canada was a racist country .
BLM Isn ’ t Interested In Free Speech , It Wants Power Black Lives Matter as a political movement—as distinct from , say , thinking that black lives matter , which most Americans do because they aren ’ t racist—isn ’ t interested at all in ameliorating the state of black America , or fighting actual racism , or expanding liberty and justice for all under our constitutional system .
This isn ’ t an evolutionary movement but a revolutionary @ @ @ @ @ @ @ on our tradition of constitutionalism but on Marxism .
Its model isn ’ t the American Revolution but the French Revolution—hence the purges , which for now are confined to the workplace .
It ’ s fair to say the movement ’ s power and influence are based on ideological purges .
Exposing supposed racists is its modus operandi , and what began on campus has now percolated through into the mainstream of American life .

by Playaguy
What is the purpose of controlling speech?
Controlling thought.
What’s the purpose of censorship?
To make it seem that you are the only one with that viewpoint.
via thefederalist:
There will be no opting out of the Black Lives Matter movement. You’re either for BLM or against it—and if you’re against it, you’re a racist. You will either support BLM publicly and enthusiastically, or you will be harassed, shunned, and shamed out of mainstream America. If you dare to speak a word against BLM, you will be targeted, mobbed, and probably fired.
That’s the message coming through loud and clear, not just from protesters but from corporations and institutions desperate to seem woke enough to escape the wrath of the BLM movement.
It doesn’t matter what your job or profession might be. It doesn’t matter if you’re in a position of power or prestige—in fact being in a position of power might make you more of a target. The only thing that can protect you from the BLM movement’s punitive rage is fealty. Bend the knee, and you might be spared. Then again, you might not.
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The list of people who have lost their jobs or been suspended for criticizing or even questioning the BLM movement is long—and growing daily. Most prominent on the list is erstwhile New York Times opinion page editor James Bennet, who “resigned” under pressure from woke NYT staffers after he ran an op-ed by Republican Sen. Tom Cotton that made the uncontroversial case that the U.S. military should be deployed if police can’t get riots under control.
Then there was Stan Wischnowski, top editor at the Philadelphia Inquirer, forced to resign over a headline of an architecture column that read, “Buildings Matter, Too,” which ran after scores of buildings in downtown Philly had been destroyed by rioters.
Bon Appétit editor-in-chief Adam Rapoport stepped down Monday after a piece he published genuflecting to BLM was deemed insufficient by staffers who claim there’s a discriminatory culture at the magazine. Also, someone posted a 13-year-old photo of Rappaport in a Halloween costume that some people thought was offensive.
Claudia Eller, editor-in-chief at Variety, was forced to take administrative leave after she got into a Twitter spat with a woman of South Asian descent who thought a piece Eller wrote lamenting the lack of diversity at the magazine wasn’t obsequious enough.
On and on it goes. NBA announcer Grant Napear was fired from his sports talk radio program and resigned as the Sacramento Kings announcer after tweeting “all lives matter.” A professor at UCLA was placed on leave after refusing to cancel a final exam following the death of George Floyd. A reporter in Wales was forced to step down as Wales Book of the Year Judge after complaining that a BLM protest violated the government’s social distancing rules.
A cast member for MTV’s reality competition series “The Challenge” was fired after writing “people die every f–king day” in response to an Instagram comment about George Floyd. Professional soccer player Aleksander Katai was “released” by the LA Galaxy not for anything he wrote or said, but because his wife criticized BLM on Instagram. A former Canadian cabinet minister lost three jobs after saying on television that he didn’t think Canada was a racist country.
That’s just a partial list.
BLM Isn’t Interested In Free Speech, It Wants Power
Black Lives Matter as a political movement—as distinct from, say, thinking that black lives matter, which most Americans do because they aren’t racist—isn’t interested at all in ameliorating the state of black America, or fighting actual racism, or expanding liberty and justice for all under our constitutional system. This isn’t an evolutionary movement but a revolutionary one. It doesn’t draw on our tradition of constitutionalism but on Marxism. Its model isn’t the American Revolution but the French Revolution—hence the purges, which for now are confined to the workplace.
It’s fair to say the movement’s power and influence are based on ideological purges. Exposing supposed racists is its modus operandi, and what began on campus has now percolated through into the mainstream of American life.


investmentwatchblog--2020-06-11--Reliable sources according to Wikipedia, explains a lot of the bias

Source is Wikipedia ’ s ( de facto official ) main list of reliable , unreliable and banned sources : @ @ @ @ @ & oldid=962008454 Excellent in-depth article from yesterday : Wikipedia formally censors The Grayzone as regime-change @ @ @ @ @ ’ s great article from 2019 : How a Small Group of Pro-Israel Activists Blacklisted @ @ @ @ @ Wikipedia maintains “ a non-exhaustive list of sources whose reliability and use on Wikipedia are @ @ @ @ @ can be classified as “ Generally reliable in its areas of expertise ” , “ @ @ @ @ @ or additional considerations apply ” , “ Generally unreliable ” , “ Deprecated ” ( @ @ @ @ @ “ Blacklisted ” .
Since pro-war sources and corporate MSM are preferred , a lot @ @ @ @ @ from its biased sources and biased editors .

by Wumbolo83
Source is Wikipedia’s (de facto official) main list of reliable, unreliable and banned sources: en.wikipedia.org/w/index.php?title=Wikipedia:Reliable_sources/Perennial_sources&oldid=962008454
Excellent in-depth article from yesterday: Wikipedia formally censors The Grayzone as regime-change advocates monopolize editing
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Whitney Webb’s great article from 2019: How a Small Group of Pro-Israel Activists Blacklisted MintPress on Wikipedia
ss: Wikipedia maintains “a non-exhaustive list of sources whose reliability and use on Wikipedia are frequently discussed”. Sources can be classified as “Generally reliable in its areas of expertise”, “No consensus, unclear, or additional considerations apply”, “Generally unreliable”, “Deprecated” (i.e. banned) and “Blacklisted”. Since pro-war sources and corporate MSM are preferred, a lot of bias on Wikipedia comes from its biased sources and biased editors.


investmentwatchblog--2020-06-11--An anonymous letter from a UC Berkeley history professor to colleagues, calling out their bullshit.

Diversity of thought is a diversity that no one stands up for .
As long as we have a lot @ @ @ @ @ color screaming for the same things , the diversity police is happy .

by Venus230
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Diversity of thought is a diversity that no one stands up for. As long as we have a lot of people with different skin color screaming for the same things, the diversity police is happy.


investmentwatchblog--2020-06-11--In a Toronto suburb, police issued $880 social distancing fine to family backyard BBQ while thousand

In a Toronto suburb, police issued $880 social distancing fine to family backyard BBQ while thousands attended protests with impunity.

in a Toronto suburb , police issued $ 880 social distancing fine to family backyard BBQ while thousands attended protests @ @ @ @

by clemaneuverers
in a Toronto suburb, police issued $880 social distancing fine to family backyard BBQ while thousands attended protests with impunity. t.co/vMN5efNCE3
— Stephen McIntyre (@ClimateAudit) June 10, 2020


investmentwatchblog--2020-06-11--Gen Milley apologies for Church photo op with Trump … Will Gen. Milley kneel to Black Lives Matters

Gen Milley apologies for Church photo op with Trump … Will Gen. Milley kneel to Black Lives Matters next?

After several days Gen Milley gives formal apology
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h/t Goneviral


investmentwatchblog--2020-06-11--Here is the employee chart for ActBlue Charities— the company that receives every dollar raised via

Here is the employee chart for ActBlue Charities— the company that receives every dollar raised via the Black Lives Matter @ @ @ @ @ is comprised of white left-wing political activists who you can research .
They also run @ @ @ @ @

Here is the employee chart for ActBlue Charities— the company that receives every dollar raised via the Black Lives Matter website.
The entire company is comprised of white left-wing political activists who you can research.
They also run the ACTBLUE superpac. pic.twitter.com/v2jbFj4Y51
— Candace Owens (@RealCandaceO) June 11, 2020


investmentwatchblog--2020-06-11--Look, y’all need to understand something…

Look at the market the last 3 months .
We haven ’ t had 3 straight red days since March , the volatility is insane .
We either swing drastically up or drastically down .
And what has changed as far as the FED is concerned ?
Absolutely nothing .
Weak hands got out today .
Equities markets are going to flood the next few months because… where the fuck else are you going to put your money with interest rates at 0 and the USD losing value ?
We ’ re going to be having 10 straight Green Day @ @ @ @ @ @ @ next fucking week .
Tomorrow is green .
Friday is green .
EOW next week is green .
End of summer will be green .
And don ’ t give me the “ second wave ” shit .
Corona is here .
It ain ’ t going anywhere .
We aren ’ t locking down again .
Forget it .
It ’ s not right , but the stock market is going to be crazy inflated the next 2-3 years .
The FED is pulling a New Orleans Saints salary cap and kicking @ @ @ @ @ @ @ “ we will deal with this shit another time ” .
And trump , his one fucking card he can play is market success .
He will be pumping and he will be instructing the fed to utilize policies that will continue to pump .
Not even talking about a calls and options standpoint… in the current climate , the only way you ’ re keeping up with the economy is through equities .
I ’ m done with my rambling .
Go ahead and hit your !
remindme ’ s , but @ @ @ @ @ @ @ here to stay boys ( bulls ) and girls ( bears ) .
Which one of you idiots is gilding the bot Disclaimer : This was written while under the influence of Evan Williams Single Barrel and it is still up for debate if I ’ m retarded .
WE ’ RE GOING DOWN , DOWN handitnwbah dooby around SUGAR WE ’ RE GOING DOWN SWINGIN Disclaimer : This information is only for educational purposes .
Do not make any investment decisions based on the information in this article .
Do you own @ @ @

by Brundonius
Look at the market the last 3 months. We haven’t had 3 straight red days since March, the volatility is insane. We either swing drastically up or drastically down. And what has changed as far as the FED is concerned? Absolutely nothing. Weak hands got out today. Equities markets are going to flood the next few months because… where the fuck else are you going to put your money with interest rates at 0 and the USD losing value? We’re going to be having 10 straight Green Day’s and constant fomo again by next fucking week. Tomorrow is green. Friday is green. EOW next week is green. End of summer will be green. And don’t give me the “second wave” shit. Corona is here. It ain’t going anywhere. We aren’t locking down again. Forget it. It’s not right, but the stock market is going to be crazy inflated the next 2-3 years. The FED is pulling a New Orleans Saints salary cap and kicking the can down the road. Saying “we will deal with this shit another time”. And trump, his one fucking card he can play is market success. He will be pumping and he will be instructing the fed to utilize policies that will continue to pump. Not even talking about a calls and options standpoint… in the current climate, the only way you’re keeping up with the economy is through equities. I’m done with my rambling. Go ahead and hit your !remindme’s, but the market manipulation and constant pumping is here to stay boys (bulls) and girls (bears).
Which one of you idiots is gilding the bot
Disclaimer: This was written while under the influence of Evan Williams Single Barrel and it is still up for debate if I’m retarded.
We are primarily funded by readers. Please subscribe and donate to support us!
WE’RE GOING DOWN, DOWN handitnwbah dooby around SUGAR WE’RE GOING DOWN SWINGIN
rest in pieces bulls
Disclaimer: This information is only for educational purposes. Do not make any investment decisions based on the information in this article. Do you own due diligence.


investmentwatchblog--2020-06-11--[California Public Utilities Commission] Officially ruled Uber and Lyft drivers are classified as em

[California Public Utilities Commission] Officially ruled Uber and Lyft drivers are classified as employees and must provide workers’ compensatio by July 1st. If they don’t comply, it could revoke their operating authority under state law.

Things just got very seriously bad for Uber and Lyft … .
Uber and Lyft drivers are classified as employees , the California Public Utilities Commission has officially ruled .
The regulator , which oversees ride-hailing companies , declared its decision in an order published on Tuesday .
It said “ a person providing labor or services for remuneration shall be considered an employee rather than an independent contractor ” under AB5 , the state ’ s new law covering gig work , which became effective on January 1st , 2020 .
In its order , the Commission mentioned that @ @ @ @ @ @ @ to prevent its drivers from being classified as employees under AB5 .
It also noted that Uber and Lyft successfully “ placed on the November 2020 ballot a measure that would exclude all app-based drivers from AB5.
” The lawsuit and ballot don ’ t affect the Commission ’ s authority over ride-hailing services , though , so their drivers are “ presumed to be employees.
” That means the regulator must ensure that ride-hailing services “ comply with those requirements that are applicable to the employees of an entity subject to the @ @ @ @ @ @ @ week , the regulator also warned the companies that they have to provide workers ’ compensation for their employees by July 1st .
If they don ’ t comply , it could revoke their operating authority under state law .
As NBC News notes , it ’ s unclear if this ruling can compel Uber and Lyft to formally reclassify their drivers .
In a statement sent to the organization , Uber spokesperson Davis White said it “ remains committed to expanded benefits and protections to drivers.
” However , he also said @ @ @ @ @ @ @ spokesperson simply told NBC News that the commission ’ s “ presumption is flawed .
”

by jonbonejones
Things just got very seriously bad for Uber and Lyft ….

finance.yahoo.com/news/california-regulator-uber-lyft-drivers-employees-044824014.html

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Uber and Lyft drivers are classified as employees, the California Public Utilities Commission has officially ruled. The regulator, which oversees ride-hailing companies, declared its decision in an order published on Tuesday. It said “a person providing labor or services for remuneration shall be considered an employee rather than an independent contractor” under AB5, the state’s new law covering gig work, which became effective on January 1st, 2020.
In its order, the Commission mentioned that Uber filed a lawsuit in federal court to prevent its drivers from being classified as employees under AB5. It also noted that Uber and Lyft successfully “placed on the November 2020 ballot a measure that would exclude all app-based drivers from AB5.” The lawsuit and ballot don’t affect the Commission’s authority over ride-hailing services, though, so their drivers are “presumed to be employees.” That means the regulator must ensure that ride-hailing services “comply with those requirements that are applicable to the employees of an entity subject to the Commission’s jurisdiction.”
Just last week, the regulator also warned the companies that they have to provide workers’ compensation for their employees by July 1st. If they don’t comply, it could revoke their operating authority under state law. As NBC News notes, it’s unclear if this ruling can compel Uber and Lyft to formally reclassify their drivers. In a statement sent to the organization, Uber spokesperson Davis White said it “remains committed to expanded benefits and protections to drivers.” However, he also said that:
“If California regulators force rideshare companies to change their business model it would affect our ability to provide reliable and affordable services, along with threatening access to this essential work Californians depend on.”
As for Lyft, a spokesperson simply told NBC News that the commission’s “presumption is flawed.”


investmentwatchblog--2020-06-11--[DD] PG&E Exiting Bankruptcy in Days

[DD] PG&E Exiting Bankruptcy in Days

Where am I putting my AVCT money from my last DD ?
PG & E went into bankruptcy in 2018 after being held liable for two massive wildfires in Northern California .
They are coming out of Bankruptcy this week , after the deal has been signed-off on by the Governor , 5/5 Regulators , and 88 % of the Fire Victims .
Only one Judge is left to approve the deal , and he has previously said he will go along with what the Fire Victims want / vote for .
The stock is expected to pop to $ @ @ @ @ @ @ @ and eventually hit $ 18 – $ 21 .
It won ’ t hit previous highs of $ 60- $ 70 as the shares are being diluted as part of the deal , but expect $ 20- $ 25 within a year or two .
Last chance to get this stock at $ 12 today .
This will hit $ 13 by EOW and the Judge could announce any day now .
Shares are also a good deal for a very low risk play .
Disclaimer : This information is only for educational @ @ @ @ @ @ @ decisions based on the information in this article .
Do you own due diligence .

by karmalizing
Where am I putting my AVCT money from my last DD?
PCG.
Backstory
PG&E went into bankruptcy in 2018 after being held liable for two massive wildfires in Northern California.
They are coming out of Bankruptcy this week, after the deal has been signed-off on by the Governor, 5/5 Regulators, and 88% of the Fire Victims.
Bankruptcy Ending
Only one Judge is left to approve the deal, and he has previously said he will go along with what the Fire Victims want / vote for.
The stock is expected to pop to $13 – $14 right away, and eventually hit $18 – $21.
Analyst Ratings
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It won’t hit previous highs of $60-$70 as the shares are being diluted as part of the deal, but expect $20-$25 within a year or two.
seeking alpha.com/article/4352795-pg-and-e-capitalized-to-soar
Barclays (LON:BARC) analyst Eric Beaumont maintained a Buy rating on Pacific Gas & Electric Co (NYSE:PCG). on Tuesday, setting a price target of $16, which is approximately 27.29% above the present share price of $12.57.
www.investing.com/news/barclays-stick-to-their-buy-rating-for-pacific-gas–electric-co-2197368
Summary
Last chance to get this stock at $12 today. This will hit $13 by EOW and the Judge could announce any day now.
Strikes:
PCG 6/26 14c
PCG 9/18 16c
Shares are also a good deal for a very low risk play.
Disclaimer: This information is only for educational purposes. Do not make any investment decisions based on the information in this article. Do you own due diligence.