investmentwatchblog--2020-04-18--Jim Rogers Warns : This is a Financial Crisis Like No Other – Preparing for Economic Collapse

Jim Rogers Warns : This is a Financial Crisis Like No Other – Helicopter Money Wont Fix Debt Bubble The markets took a lot of aspirins today , but they will wear off tomorrow , and the headaches should return .
Dow should finish below 20,000 tomorrow .
Unless they are given more aspirins .
Eventually , though , all that aspirin will create an ulcer .
Legendary investor Jim Rogers warns that “ the next time we are going to have a financial problem it ’ s going to be the worst… ” and right now it appears we @ @ @ @ @ @ @ crisis of our lifetimes ” and “ we will know in a few months.
” However , Rogers noted , the reason behind such market mayhem is “ not just the virus , it is certainly much more ” than that .
The FED created the three largest mega-bubbles in history : in housing , bonds , and equities .
One is exploding ; the others are not far behind .
With millions now unemployed , billions in delinquent car loans , and credit card interest rates at astronomic highs , it won @ @ @ @ @ @ @ just print infinity dollars and say the Dow rose to infinity , and we ’ re all rich .
That would solve everything .
It ’ s always the same outcome : BANKERS BAILING OUT themselves in the total mess they created !
Witness in action our “ government ” of Wall Street bankers , by Wall Street bankers , for Wall Street bankers !
No matter whom the people elect , you always get JPMorgan and Goldman Sachs in charge .
The Shit going on is unbelievable .
All to save massively @ @ @ @ @ @ @ helicopter money to save the economy is insane .
What good will give people who would have never made money in the first place , a giant wad of cash .
They ’ ll blow it on garbage like some did with their Katrina cards .
The only money given out should be the money stolen from working Americans .
Whatever was stolen in payroll taxes should be given back for one year .
Warren and the rest of the oligarchs who pay nothing in payroll taxes can eat their dicks .
Now @ @ @ @ @ @ @ crisis will , in all probability , be more serious than all those experienced so far .
Including the Lehman crisis .
More serious because its nature is different .
It is not a shock from fundamentalist aggression to the West ( remember September 11 ) and not even from financial contagion like the financial crisis drugged by the subprime of 2008-2009 .
This is a crisis of global economic paralysis , of interruption ( it is not known how long ) of the vital organs of the corpus economicus .
And it @ @ @ @ @ @ @ with liquidity or by loosening the leverage of interest rates even more .
It is not a shock of demand , but it will be a shock on the supply side with chain repercussions on all the world production chains that will amplify each other .
MORE THAN The Stock Market , THE REAL ECONOMY is The Real Problem .
Rather than looking and being surprised by the collapses of the stock exchanges , we should look at the underlying .
To the real economy , which is the real vulnus of a @ @ @ @ @ @ @ its planetary dimensions .
The data of the Chinese economy brought out yesterday should be enough to understand the extent of the crisis : in just two months of the epidemic , industrial production fell by 13.5 % ; down retail sales by 20 % ; and even more limited investments ( as obvious at this point ) are the peak investments of 24 % .
That script will replicate around the world .
With economies collapsing everywhere .
Perhaps here is the explanation for the fact that despite the drastic measures taken @ @ @ @ @ @ @ bring zero interest rates at once and to re-engage in post-Lehman-like buyback policies , the stock market reacted by deepening the falls , rather than mitigate them .
The market is well aware that in the face of a protracted infarction of the global economy , central banks have little room for maneuver having , among other things , spent many of the cartridges in the last decade of monetary policy which has never been so expansive .
LIQUIDITY ALONE IS NOT ENOUGH .
Even if you throw the money from above with @ @ @ @ @ @ @ up in a circle but will remain confined to bank accounts and deposits .
No real transmission of liquidity to the productive economy .
And then more money to spend on doing what , if you can ’ t move , work or spend .
And especially if goods and services are not available .
Investment bank analysts around the world are refining their forecasts .
That the world will go into recession in 2020 is now obvious .
Still , no one can predict how intense and prolonged it will be .
@ @ @ @ @ @ @ are eloquent : in the front line the carriers , tourism ; then to follow the car industry ; the luxury ; the energy impacted by the collapse of crude oil and finally the banks that will see revenues , profits and bad debts increase .
PEAK TURNOVER EVERYWHERE .
Recent Cerved research foresees two scenarios : In the best case , if the epidemic in Italy ended in May , the loss of turnover of the Italian industrial system would be around 275 billion euros ; in the most dramatic scenario , @ @ @ @ @ @ @ , then the collapse would be over 600 billion in the two-year period 2020-2021 .
A shock equal to almost a third of the turnover of the Italian production system .
Almost no company has been able to make predictions for 2020 .
Among the Italians , Ferragamo did it , which said that if the current situation remained unchanged until the end of March , a 25 to 30 % loss of revenues is expected in the first quarter of 2020 on an annual basis .
A global look at the price @ @ @ @ @ @ @ who are now talking of the fastest “ Bear ” market in history , referring to the sudden and rapid drop in stock exchanges .
UBS analysts observe that since 1945 the most pronounced drop from the highs has been 34.5 % .
Applying it now , the S & P500 should find its lows around 2,200 points ( yesterday it closed at 2,386 ) .
Another simulation predicts that against a 10 % drop in profits and with a price/earnings of 16 , the balance value of the S & P500 would @ @ @ @ @ @ @ America sees profits fall by 30 % this year , as many already predict , then the S & P500 could continue to drop to 1,800 points .
THE CRASH OF THE AIRLINES .
The alarm launched by the airlines from British to Lufthansa to EasyJet on the blocking of flights that is likely to last for a long time will impact on profits and , therefore , on prices on the Stock Exchange .
It is evident to see how much the carriers have already lost on the price lists .
IAG @ @ @ @ @ @ @ British Airways , has lost more than 60 % of its value since February 19 .
Lufthansa has almost halved the prices ; Easyjet has left 60 % on the field .
After The Airlines , the next shoe to drop is going to be The Car Industry .
Another major sector that is heavily impacted is the car sector : from FCA to Peugeot to Renault .
Almost everyone has announced plant closings in Europe .
On the stock exchange , the result is that FCA has lost 40 % of its @ @ @ @ @ @ @ Renault more than 50 % ; Volkswagen -40 % and so on .
And even the most resistant luxury has suffered : the average fall in European fashion stocks has been 30 % since mid-February .
DEFENSIVE TITLES ARE NOT SAVED .
And not even the most defensive stocks like pharmaceuticals and utilities have shown resistance to the outbreak of the virus .
Just to give an idea , a title such as the Italian Terna which has increased the dividend policy , operates in a monopoly with regulated tariffs and has a @ @ @ @ @ @ @ , however , falling from 6.7 euros by February 20 at 4.8 yesterday .
As you can see , no one is saved on the stock exchange .
But the market is only the amplified mirror of the underlying economy .
And the signals it sends are that the generalized sell-off implies very gloomy prospects for the performance of the economies in the coming months .
This summarizes the picture that has never been so gloomy .
The current situation is also worsened by the fact , so far , that the spread @ @ @ @ @ @ @ unprecedented for demand , supply , and financial conditions .
The more the virus spreads , the greater the number of economic “ sudden stops ” around the world , and , consequently , the market will need more time to recover .
Initially , we hoped that the recovery had a “ V ” trajectory , then “ U ” and , potentially , also “ L. ” Conditions could remain unchanged or even worsen for longer than initially estimated .
A simultaneous stop of supplies and a reduction in growth will @ @ @ @ @ @ @ difficulties on the debt front .
The implication of these developments is that , despite the drop in bond yields , as financial conditions become increasingly restrictive for companies , there will be a greater risk of default on the debt markets , and the wave of buybacks .
Which in the past has served to bring up the stock markets , will stop abruptly “ .
This system is designed to benefit globalists , government bureaucrats , and aristocrats or in the USA old elite business money .
If anyone else thrives @ @ @ @ @ @ @ aforementioned system .
The stock market has always been a market designed to benefit the people mentioned .
They will cleanse the system when they feel it needs to be cleansed as they have done with all previous market crashes .
Until then , you will continue to see those stocks do their magic .
For anyone outside the stock market elite , that makes money count your lucky stars .
Well , if you didn ’ t sell into ‘ strength ’ today , you ’ re out of luck .
You @ @ @ @ @ @ @ for a while .
Tomorrow ( at the latest Thursday ) , you will see an 18,000 print .
A Lil stall after that , and the REALLY big leg down .
It ’ s pretty much baked into the cake at this point .
The fed is actually being gracious to investors .
They ’ re telling them to get out if they need mone .
And they ’ re giving them ample opportunity every third day .
Selling today will net any long equity holder ten percent this week .
I @ @ @ @ @ @ @ be a lot of overnight sell orders hit in the morning .
Absent fed intervention , we ’ d be at about 10,000 right now .
It ’ s heading there anyway , but they ’ re doing their best to give retail all the chance they need to claim some badly needed cash right now .
The promise to keep the market open no matter what was real leadership , and I ’ m impressed with the call .
Trump is starting to get back in sync with events .
When the @ @ @ @ @ @ @ comfort is important .
Protect your home with a new fully automatic standby generator .
Maintain your security system , lighting and air conditioning to keep your family or business safe and comfortable through any power outage WHAT SHOULD I DO ?
How can I prepare for an economic collapse ?
is one of the most common questions I get .
It usually takes me a second to start to explain how complex such a question is .
It ’ s like asking an auto mechanic , Say , how do you build @ @ @ @ @ @ @ engineer , What ’ s all that stuff inside my laptop ?
I do have some first-hand experience in this matter , though .
The economy in my country , Argentina , has gone through various crises , but none as large as when the economy collapsed in 2001 after a decade of apparent prosperity .
The currency devaluated , and Argentina defaulted on its USD $ 132 billion debt , the largest default ever .
The middle class took to the streets after bank accounts were frozen , and the president was @ @ @ @ @ @ @ building in a helicopter .
What I ’ ll do is provide five quick foundational steps , based on what I know , for you to follow so as to be better prepared if something like what happened in my country ever happens in yours .
Steps for Greater Resiliency Step # 1 : Secure a percentage of your savings in bullion .
Five years ago , even the most paranoid person claimed that you would never see “ nationalized ” banks in the USA .
The gung-ho survivalists claimed the entire country @ @ @ @ @ @ @ revolts would start before something as insane as a $ 700+ billion bailout to save the “ too big to fail ” rich elite was laid on the backs of the American working class .
Yet here we are .
When I try to explain this very important issue to my American friends , they tell me that banks would never steal people ’ s money because there are laws against that in the USA ; their money is insured .
We had those same laws in Argentina , but still it happened @ @ @ @ @ @ @ private property .
Yet the constitution mattered little during the collapse .
Go right ahead – sue the government of the United States if something like that ever happens .
Maybe you ’ ll get some of your savings back in a few years .
If they feel like returning it .
What people don ’ t understand is that laws are written by men , not some greater power .
As soon as those running the show feel an emergency decree or law is in order , existing laws are simply rewritten @ @ @ @ @ @ @ !
What do you do if something like that happens ?
You may complain , you may sue , but you ’ re not changing the cold hard fact that as of right now , that bank door is closed , that ATM has no money in it , and you still have to survive .
Hundreds of thousands of us have banged the doors of our banks for years without a penny being returned .
You still sued , and waited , and spent the little money you had by hiring a @ @ @ @ @ @ @ you have some of that money at hand before they decide to steal it .
Since you can ’ t guess the future , all you can do is estimate what can happen and play the odds in your favor .
In the event of a full economic collapse , if you have 20 % of your savings in physical gold and silver , that ’ s a percentage of your savings that is spared .
It ’ s not an investment ; don ’ t go crazy over gold and silver going @ @ @ @ @ @ @ Just be content that it ’ s not getting any lighter as it sits in your safe .
If the economy collapses or even if there ’ s simply inflation ( as there clearly will be ) , that percentage of your savings in precious metals is safe and will likely go up in price beyond its standard purchasing power as things get worse .
During the first stages of a severe economic crisis , you will see ATMs running out of money fast , and many stores won ’ t be accepting @ @ @ @ @ @ @ , “ Cash is king ” during those times .
Your precious metal can be sold to a dealer , but you better keep that stored for now .
When everyone is running around looking for an ATM with a few bucks in it , having a month ’ s worth of expenses in cash means you won ’ t be one of them .
Why not more than a month´s worth of expenses ?
Because if the economy fully collapses , that paper money will lose its value within hours .
It @ @ @ @ @ @ @ , or 75 % , as happened in Argentina .
Who knows ?
All you know is that as the currency loses value , the value of the precious metals you have stored goes up in proportion .
Still , during those first days , a wad of cash gets you what you need .
So , Step # 1 is acquiring precious metals ( I generally recommend 20 % of your savings but each person is a separate case ) and a month ’ s worth of expenses in cash , kept @ @ @ @ @ @ @ : Stock up on food .
The more you have , the better .
There may be periods of civil unrest like the ones we saw where stores are being looted and closed after that .
There may be problems with resupply because of logistical complications .
It ’ s better if you already have 6 to 12 months worth of food in your expanded pantry .
Also , keep in mind that the food you buy now will be considerably cheaper compared to post-inflation prices .
This large supply of food will @ @ @ @ @ @ @ job loss , as well .
Who knows how long it will be before you find another source of income ?
After the 2008 collapse , some people genuinely spent YEARS looking for a job without finding any .
I can ’ t emphasize enough the peace of mind it brings knowing you still have some time , and that you can , in fact , put food on the table the following night .
The food should be long-term storage type , requiring little or no cooking , at least for some @ @ @ @ @ @ @ , so having a two-week supply is advised .
The minimum amount is a gallon per person per day , and you should double that for flushing toilets and taking an elemental bath in case the water service is interrupted .
Step # 3 : Acquire the essentials by putting together a survival/emergency kit.read more This will include your typical camping gear : a tent , sleeping bags , a stove ( have enough fuel for it in case services are disrupted ) , first aid kit , medicines , LED flashlights , @ @ @ @ @ @ @ how bad civil unrest gets , there may be problems with the infrastructure .
After the economy collapsed in Argentina , the power company simply couldn ’ t afford the repairs needed , and it hadn ’ t planned for something like this .
Rolling blackouts became common , and having LED lights and rechargeable batteries was a blessing .
You could easily spend two or three days without power during the summer .
At one time , downtown Buenos Aires was left without power for five days .
Imagine the complications this @ @ @ @ @ @ @ interrupted , you may need other ways of cooking .
A camping stove and enough fuel will get you through it .
Step # 4 : Improve your personal and home security.read more If you ask any Argentinean what concerns him the most , 9 out of 10 people will have the same answer : security .
In second place is the economic situation .
Ten years after the economic collapse , things are nothing like they used to be .
Half of the middle class became poor and its standard of living @ @ @ @ @ @ @ still a high-risk economy , and it shows .
Inflation is still rampant and can be anywhere from 5 % to 10 % per month , usually hitting the middle class the worst .
But that ’ s something we ’ ve grown used to .
That ’ s something we can live with .
What concerns Argentineans the most is the crime problem , and the out-of-control violent crime we suffer is the major legacy of the 2008 economic collapse .
Poverty sure didn ’ t help , nor did social segregation @ @ @ @ @ @ @ the crime levels we suffer is our own government .
The liberal government that took control after the collapse considers criminals to be poor victims of brutal capitalism .
The unofficial stance is that criminals have a right to steal , murder and rape – in their view , it ’ s how the “ poor ” get back at the rich and middle class who thrived during the 1990s .
Of course , with a government like that , the crime problem just keeps getting worse .
During the first days after @ @ @ @ @ @ @ rioting , and looting were out of control .
A state of siege and military law was declared , enforcing curfew hours after 10 pm .
This lasted a few months , and for months after that , while order was recovered in the capitol district , there were still occasional revolts and looting .
The sense of lawlessness extended way beyond the visible accounts depicted by the TV and general media .
It ’ s during times like these that you realize you must have means of defending yourself and your family @ @ @ @ @ @ @ home as secure as possible against criminals that may take advantage of the lack of control during the worst of the rioting .
After that , a better security plan for the entire family must be worked out .
As things get worse , you understand that you can no longer afford to be lax about your personal and home security .
Those that are quickly become vicitims .
With a more secure home , you may want to consider having a weapon to defend yourself .
Certainly not an easy decision , @ @ @ @ @ @ @ about .
If you have the self-control and maturity to handle one , having a firearm and getting the minimum training to know how to use ( it if it ever comes to that ) is something you should consider doing .
Crime and insecurity will be one of the greatest threats people all across the USA will suffer , and very few will be ready for it .
It won ’ t happen one dark gloomy night after watching the latest horror movie .
It will happen in the Walmart parking lot @ @ @ @ @ @ @ people around ( people who will hurry out of the way , pretending not to see anything ) .
You ’ ll be thinking about what you just bought , that you maybe should have bought Lucky Charms instead of Corn Flakes .
That ’ s when the nice-looking person with two other buddies , all well-dressed ( with neat haircuts , too ) , will pull a gun on you .
Developing a sense of awareness will be the most important part , as well as making the rest of your family @ @ @ @ @ @ @ can no longer be careless regarding security .
Step # 5 : Embrace a different mindset .
When Argentina went through its economic collapse , people handled it differently .
Maybe the most common response was denial .
The “ I can ’ t believe this is happening “ attitude was pretty popular .
Others complained , but you soon understood that it changed nothing : It only made you feel more miserable , more stressed , and that was something you could do without .
Others just ended their misery .
Suicide @ @ @ @ @ @ @ people sometimes jumping under the train at early rush hour in a desperate attempt to make their misery noticed by others .
What you need to do is become more positive , more active .
Be someone who , while accepting those things you can ’ t change , does something about the things you can .
Get involved now .
Do what I just recommended right now ; it will bring you peace of mind .
Remember to stay positive and put every problem into perspective .
Complain less .
You ’ @ @ @ @ @ @ @ inflation gets worse .
Soon you ’ ll understand that material things can be replaced , and you become more grateful for what you have instead of worrying about what you don ’ t .
It ’ s essential to keep a positive attitude .
Being someone who gets easily depressed will be the end of you as the economy worsens .
Problems much worse that what you are used to will be a daily occurrence .
You ’ ll just have to roll with it and learn to cope with the new @ @ @ @ @ @ @ relationships with people .
Fight stress by finding a hobby you enjoy , hopefully one that has a practical side as well .
After the collapse , lots of people started their own businesses when they realized there were no jobs to be found .
It would be better if you get started now , just in case you ever need it in order to earn a living .
These are my recommendations .
I know many people could have used such advice back when our economy collapsed .
Some common questions regarding @ @ @ @ @ @ @ happen ?
These events occur fast , but there are warning signs : lack of investment , higher interest rates , unemployment .
When banks start coming up with excuses so as to not give you your money right away when closing an account , that ’ s usually not a good sign .
As for inflation and hyperinflation , they happen right in front of your eyes .
It actually happened to me that the price of an item I picked in a store almost doubled in price by the time I @ @ @ @ @ @ @ just placed the sticker with the new price over the old one ( no time to remove them ) Employees rushed around changing prices several times a day , all day long , during the ongoing crisis .
It was fun to peel back the stack of stickers with the different prices and see how they had gone up in a matter of hours .
Rioting happens fast , too .
Once the banks close , rioting is just minutes away .
What happens to your savings/investments ?
I didn ’ t have @ @ @ @ @ @ @ just a day before the banks closed their doors .
My parents are accountants and saw the signs mentioned earlier .
When we went to the bank , a nice lady told us they didn ’ t have USD $ 1,000 in the bank .
Our jaws just dropped .
That same day we went to the main branch and closed the account my sister and I had .
The next day all banks closed and the accounts were frozen .
As for real estate , that was a pretty safe investment .
@ @ @ @ @ @ @ the devaluation .
Of course , you were much better off with your money in bricks and mortar than in a bank account .
How does the populace react ?
Violently , as you ’ d expect when your life savings are stolen from you .
What is the government saying/doing ?
Laws were changed to make everything nice and legal .
The excuses then-president Fernando De La Rua came up with in his speeches during the crisis just made everything worse .
Just days before the bank holidays , they promised none @ @ @ @ @ @ @ before the devaluation .
They swore on their mothers ’ names that they wouldn ’ t do such a thing – then did it the following day .
Politicians tend to do such things , and they are all similar worldwide .
What happens to the capital markets ?
The stock market dropped like a rock , then shut down .
What surprised us the most was how everything was simply frozen in expectation .
No one wanted to spend a single cent , not even to buy half gallon of paint for @ @ @ @ @ @ @ didn ’ t know what would happen in a matter of hours , let alone next week .
The biggest investors had sold and left the country months before everything went down .
Another sign to look for .
Does violence and crime become an immediate concern ?
Yes , it does .
While stores were the more common targets , houses were looted , too .
The best thing to do was stay home , have a defendable position , and be armed .
I had looters not 20 yards away from @ @ @ @ @ @ @ if they rush your home ?
Can you just open fire on them ?
What will they do when/if you do ?
All these things flash into your mind .
A significant amount of people behave themselves because they believe there ’ s a punishment if they do otherwise .
Once that fear is removed , because the authorities have clearly lost control , you see the worst of people ’ s nature .
It ’ s not a pleasant thought , but it ’ s better to be ready .

by Amy S.
Jim Rogers Warns : This is a Financial Crisis Like No Other – Helicopter Money Wont Fix Debt Bubble
The markets took a lot of aspirins today, but they will wear off tomorrow, and the headaches should return. Dow should finish below 20,000 tomorrow. Unless they are given more aspirins. Eventually, though, all that aspirin will create an ulcer.
Legendary investor Jim Rogers warns that “the next time we are going to have a financial problem it’s going to be the worst…” and right now it appears we are headed toward “the worst financial crisis of our lifetimes” and “we will know in a few months.”
However, Rogers noted, the reason behind such market mayhem is “not just the virus, it is certainly much more” than that. The FED created the three largest mega-bubbles in history: in housing, bonds, and equities. One is exploding; the others are not far behind. With millions now unemployed, billions in delinquent car loans, and credit card interest rates at astronomic highs, it won’t be long.
They should just print infinity dollars and say the Dow rose to infinity, and we’re all rich. That would solve everything. It’s always the same outcome: BANKERS BAILING OUT themselves in the total mess they created! Witness in action our “government” of Wall Street bankers, by Wall Street bankers, for Wall Street bankers! No matter whom the people elect, you always get JPMorgan and Goldman Sachs in charge.
The Shit going on is unbelievable. All to save massively overpriced assets. All the talk of helicopter money to save the economy is insane. What good will give people who would have never made money in the first place, a giant wad of cash. They’ll blow it on garbage like some did with their Katrina cards. The only money given out should be the money stolen from working Americans. Whatever was stolen in payroll taxes should be given back for one year. Warren and the rest of the oligarchs who pay nothing in payroll taxes can eat their dicks.
Now perhaps it should be clearer. This crisis will, in all probability, be more serious than all those experienced so far. Including the Lehman crisis. More serious because its nature is different. It is not a shock from fundamentalist aggression to the West (remember September 11) and not even from financial contagion like the financial crisis drugged by the subprime of 2008-2009. This is a crisis of global economic paralysis, of interruption (it is not known how long) of the vital organs of the corpus economicus. And it is not resolved by flooding the system with liquidity or by loosening the leverage of interest rates even more. It is not a shock of demand, but it will be a shock on the supply side with chain repercussions on all the world production chains that will amplify each other.
MORE THAN The Stock Market, THE REAL ECONOMY is The Real Problem . Rather than looking and being surprised by the collapses of the stock exchanges, we should look at the underlying. To the real economy, which is the real vulnus of a health crisis never known so far in its planetary dimensions. The data of the Chinese economy brought out yesterday should be enough to understand the extent of the crisis: in just two months of the epidemic, industrial production fell by 13.5%; down retail sales by 20%; and even more limited investments (as obvious at this point) are the peak investments of 24%.
That script will replicate around the world. With economies collapsing everywhere. Perhaps here is the explanation for the fact that despite the drastic measures taken by the Fed on Sunday evening to bring zero interest rates at once and to re-engage in post-Lehman-like buyback policies, the stock market reacted by deepening the falls, rather than mitigate them. The market is well aware that in the face of a protracted infarction of the global economy, central banks have little room for maneuver having, among other things, spent many of the cartridges in the last decade of monetary policy which has never been so expansive.
LIQUIDITY ALONE IS NOT ENOUGH.
Even if you throw the money from above with the helicopter, it will not end up in a circle but will remain confined to bank accounts and deposits. No real transmission of liquidity to the productive economy. And then more money to spend on doing what, if you can’t move, work or spend. And especially if goods and services are not available. Investment bank analysts around the world are refining their forecasts. That the world will go into recession in 2020 is now obvious.
Still, no one can predict how intense and prolonged it will be. But the signals from the various businesses are eloquent: in the front line the carriers, tourism; then to follow the car industry; the luxury; the energy impacted by the collapse of crude oil and finally the banks that will see revenues, profits and bad debts increase.
PEAK TURNOVER EVERYWHERE. Recent Cerved research foresees two scenarios: In the best case, if the epidemic in Italy ended in May, the loss of turnover of the Italian industrial system would be around 275 billion euros; in the most dramatic scenario, with a war economy lasting all 2020, then the collapse would be over 600 billion in the two-year period 2020-2021. A shock equal to almost a third of the turnover of the Italian production system.
Almost no company has been able to make predictions for 2020. Among the Italians, Ferragamo did it, which said that if the current situation remained unchanged until the end of March, a 25 to 30% loss of revenues is expected in the first quarter of 2020 on an annual basis.
A global look at the price lists giving by the UBS analysts , who are now talking of the fastest “Bear” market in history, referring to the sudden and rapid drop in stock exchanges. UBS analysts observe that since 1945 the most pronounced drop from the highs has been 34.5%. Applying it now, the S & P500 should find its lows around 2,200 points (yesterday it closed at 2,386). Another simulation predicts that against a 10% drop in profits and with a price/earnings of 16, the balance value of the S & P500 would be 2,375 points. But if Corporate America sees profits fall by 30% this year, as many already predict, then the S & P500 could continue to drop to 1,800 points.
THE CRASH OF THE AIRLINES. The alarm launched by the airlines from British to Lufthansa to EasyJet on the blocking of flights that is likely to last for a long time will impact on profits and, therefore, on prices on the Stock Exchange. It is evident to see how much the carriers have already lost on the price lists. IAG, the holding company that controls the British Airways, has lost more than 60% of its value since February 19. Lufthansa has almost halved the prices; Easyjet has left 60% on the field. After The Airlines , the next shoe to drop is going to be The Car Industry. Another major sector that is heavily impacted is the car sector: from FCA to Peugeot to Renault. Almost everyone has announced plant closings in Europe. On the stock exchange, the result is that FCA has lost 40% of its value in less than a month. Renault more than 50%; Volkswagen -40% and so on. And even the most resistant luxury has suffered: the average fall in European fashion stocks has been 30% since mid-February.
DEFENSIVE TITLES ARE NOT SAVED. And not even the most defensive stocks like pharmaceuticals and utilities have shown resistance to the outbreak of the virus. Just to give an idea, a title such as the Italian Terna which has increased the dividend policy, operates in a monopoly with regulated tariffs and has a gross margin on revenues of 70%, however, falling from 6.7 euros by February 20 at 4.8 yesterday. As you can see, no one is saved on the stock exchange. But the market is only the amplified mirror of the underlying economy. And the signals it sends are that the generalized sell-off implies very gloomy prospects for the performance of the economies in the coming months. This summarizes the picture that has never been so gloomy.
The current situation is also worsened by the fact, so far, that the spread of the virus has triggered simultaneous shocks unprecedented for demand, supply, and financial conditions. The more the virus spreads, the greater the number of economic “sudden stops” around the world, and, consequently, the market will need more time to recover. Initially, we hoped that the recovery had a “V” trajectory, then “U” and, potentially, also “L.” Conditions could remain unchanged or even worsen for longer than initially estimated. A simultaneous stop of supplies and a reduction in growth will necessarily translate into lower earnings and greater difficulties on the debt front.
The implication of these developments is that, despite the drop in bond yields, as financial conditions become increasingly restrictive for companies, there will be a greater risk of default on the debt markets, and the wave of buybacks. Which in the past has served to bring up the stock markets, will stop abruptly “. This system is designed to benefit globalists, government bureaucrats, and aristocrats or in the USA old elite business money. If anyone else thrives, it is a byproduct of the aforementioned system.
The stock market has always been a market designed to benefit the people mentioned. They will cleanse the system when they feel it needs to be cleansed as they have done with all previous market crashes. Until then, you will continue to see those stocks do their magic. For anyone outside the stock market elite, that makes money count your lucky stars. Well, if you didn’t sell into ‘strength’ today, you’re out of luck. You will not see this price range again for a while.
Tomorrow (at the latest Thursday), you will see an 18,000 print. A Lil stall after that, and the REALLY big leg down. It’s pretty much baked into the cake at this point. The fed is actually being gracious to investors. They’re telling them to get out if they need mone. And they’re giving them ample opportunity every third day. Selling today will net any long equity holder ten percent this week. I would imagine there’s going to be a lot of overnight sell orders hit in the morning. Absent fed intervention, we’d be at about 10,000 right now. It’s heading there anyway, but they’re doing their best to give retail all the chance they need to claim some badly needed cash right now. The promise to keep the market open no matter what was real leadership, and I’m impressed with the call. Trump is starting to get back in sync with events.
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Preparing for Economic Collapse
WHAT SHOULD I DO? How can I prepare for an economic collapse? is one of the most common questions I get. It usually takes me a second to start to explain how complex such a question is. It’s like asking an auto mechanic, Say, how do you build a car? or asking a computer engineer, What’s all that stuff inside my laptop?
I do have some first-hand experience in this matter, though. The economy in my country, Argentina, has gone through various crises, but none as large as when the economy collapsed in 2001 after a decade of apparent prosperity. The currency devaluated, and Argentina defaulted on its USD$132 billion debt, the largest default ever. The middle class took to the streets after bank accounts were frozen, and the president was forced to resign, escaping the presidential building in a helicopter.
What I’ll do is provide five quick foundational steps, based on what I know, for you to follow so as to be better prepared if something like what happened in my country ever happens in yours.
Steps for Greater Resiliency
Step #1: Secure a percentage of your savings in bullion.
Five years ago, even the most paranoid person claimed that you would never see “nationalized” banks in the USA. The gung-ho survivalists claimed the entire country would go up in flames and open revolts would start before something as insane as a $700+ billion bailout to save the “too big to fail” rich elite was laid on the backs of the American working class. Yet here we are.
When I try to explain this very important issue to my American friends, they tell me that banks would never steal people’s money because there are laws against that in the USA; their money is insured. We had those same laws in Argentina, but still it happened. We had a constitutional right to private property. Yet the constitution mattered little during the collapse. Go right ahead – sue the government of the United States if something like that ever happens. Maybe you’ll get some of your savings back in a few years. If they feel like returning it.
What people don’t understand is that laws are written by men, not some greater power. As soon as those running the show feel an emergency decree or law is in order, existing laws are simply rewritten. They may even be ignored altogether! What do you do if something like that happens? You may complain, you may sue, but you’re not changing the cold hard fact that as of right now, that bank door is closed, that ATM has no money in it, and you still have to survive. Hundreds of thousands of us have banged the doors of our banks for years without a penny being returned. You still sued, and waited, and spent the little money you had by hiring a lawyer. You lose, they win…unless you have some of that money at hand before they decide to steal it.
Since you can’t guess the future, all you can do is estimate what can happen and play the odds in your favor. In the event of a full economic collapse, if you have 20% of your savings in physical gold and silver, that’s a percentage of your savings that is spared. It’s not an investment; don’t go crazy over gold and silver going up or down a few dollars. Just be content that it’s not getting any lighter as it sits in your safe. If the economy collapses or even if there’s simply inflation (as there clearly will be), that percentage of your savings in precious metals is safe and will likely go up in price beyond its standard purchasing power as things get worse.
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During the first stages of a severe economic crisis, you will see ATMs running out of money fast, and many stores won’t be accepting credit cards. As the saying goes, “Cash is king” during those times. Your precious metal can be sold to a dealer, but you better keep that stored for now. When everyone is running around looking for an ATM with a few bucks in it, having a month’s worth of expenses in cash means you won’t be one of them. Why not more than a month´s worth of expenses? Because if the economy fully collapses, that paper money will lose its value within hours. It may drop 50%, 60%, or 75%, as happened in Argentina. Who knows? All you know is that as the currency loses value, the value of the precious metals you have stored goes up in proportion. Still, during those first days, a wad of cash gets you what you need.
So, Step #1 is acquiring precious metals (I generally recommend 20% of your savings but each person is a separate case) and a month’s worth of expenses in cash, kept safe at home.
Step #2: Stock up on food.
The more you have, the better. There may be periods of civil unrest like the ones we saw where stores are being looted and closed after that. There may be problems with resupply because of logistical complications. It’s better if you already have 6 to 12 months worth of food in your expanded pantry. Also, keep in mind that the food you buy now will be considerably cheaper compared to post-inflation prices.
This large supply of food will bring peace of mind in case of job loss, as well. Who knows how long it will be before you find another source of income? After the 2008 collapse, some people genuinely spent YEARS looking for a job without finding any. I can’t emphasize enough the peace of mind it brings knowing you still have some time, and that you can, in fact, put food on the table the following night.
The food should be long-term storage type, requiring little or no cooking, at least for some of it. Water is also essential, so having a two-week supply is advised. The minimum amount is a gallon per person per day, and you should double that for flushing toilets and taking an elemental bath in case the water service is interrupted.
Step #3: Acquire the essentials by putting together a survival/emergency kit.read more
This will include your typical camping gear: a tent, sleeping bags, a stove (have enough fuel for it in case services are disrupted), first aid kit, medicines, LED flashlights, and several spare batteries. Depending on how bad civil unrest gets, there may be problems with the infrastructure. After the economy collapsed in Argentina, the power company simply couldn’t afford the repairs needed, and it hadn’t planned for something like this. Rolling blackouts became common, and having LED lights and rechargeable batteries was a blessing. You could easily spend two or three days without power during the summer. At one time, downtown Buenos Aires was left without power for five days. Imagine the complications this brings. If natural gas service is interrupted, you may need other ways of cooking. A camping stove and enough fuel will get you through it.
Step #4: Improve your personal and home security.read more
If you ask any Argentinean what concerns him the most, 9 out of 10 people will have the same answer: security. In second place is the economic situation. Ten years after the economic collapse, things are nothing like they used to be. Half of the middle class became poor and its standard of living has decreased considerably. We’re still a high-risk economy, and it shows. Inflation is still rampant and can be anywhere from 5% to 10% per month, usually hitting the middle class the worst. But that’s something we’ve grown used to. That’s something we can live with.
What concerns Argentineans the most is the crime problem, and the out-of-control violent crime we suffer is the major legacy of the 2008 economic collapse. Poverty sure didn’t help, nor did social segregation. But the greatest cause responsible for the crime levels we suffer is our own government. The liberal government that took control after the collapse considers criminals to be poor victims of brutal capitalism. The unofficial stance is that criminals have a right to steal, murder and rape – in their view, it’s how the “poor” get back at the rich and middle class who thrived during the 1990s. Of course, with a government like that, the crime problem just keeps getting worse.
During the first days after the economy collapsed, civil unrest, rioting, and looting were out of control. A state of siege and military law was declared, enforcing curfew hours after 10 pm. This lasted a few months, and for months after that, while order was recovered in the capitol district, there were still occasional revolts and looting. The sense of lawlessness extended way beyond the visible accounts depicted by the TV and general media. It’s during times like these that you realize you must have means of defending yourself and your family.
My advice is to make your home as secure as possible against criminals that may take advantage of the lack of control during the worst of the rioting. After that, a better security plan for the entire family must be worked out. As things get worse, you understand that you can no longer afford to be lax about your personal and home security. Those that are quickly become vicitims. With a more secure home, you may want to consider having a weapon to defend yourself. Certainly not an easy decision, and one you must be extremely serious about. If you have the self-control and maturity to handle one, having a firearm and getting the minimum training to know how to use (it if it ever comes to that) is something you should consider doing.
Crime and insecurity will be one of the greatest threats people all across the USA will suffer, and very few will be ready for it. It won’t happen one dark gloomy night after watching the latest horror movie. It will happen in the Walmart parking lot at 3 pm, with plenty of people around (people who will hurry out of the way, pretending not to see anything). You’ll be thinking about what you just bought, that you maybe should have bought Lucky Charms instead of Corn Flakes. That’s when the nice-looking person with two other buddies, all well-dressed (with neat haircuts, too), will pull a gun on you. Developing a sense of awareness will be the most important part, as well as making the rest of your family comprehend that times have changed and you can no longer be careless regarding security.
Step #5: Embrace a different mindset.
When Argentina went through its economic collapse, people handled it differently. Maybe the most common response was denial. The “I can’t believe this is happening “ attitude was pretty popular. Others complained, but you soon understood that it changed nothing: It only made you feel more miserable, more stressed, and that was something you could do without. Others just ended their misery. Suicide rates doubled after the collapse, with people sometimes jumping under the train at early rush hour in a desperate attempt to make their misery noticed by others.
What you need to do is become more positive, more active. Be someone who, while accepting those things you can’t change, does something about the things you can. Get involved now. Do what I just recommended right now; it will bring you peace of mind. Remember to stay positive and put every problem into perspective. Complain less. You’ll have enough to complain about when inflation gets worse. Soon you’ll understand that material things can be replaced, and you become more grateful for what you have instead of worrying about what you don’t.
It’s essential to keep a positive attitude. Being someone who gets easily depressed will be the end of you as the economy worsens. Problems much worse that what you are used to will be a daily occurrence. You’ll just have to roll with it and learn to cope with the new world you live in. Reinforce your relationships with people. Fight stress by finding a hobby you enjoy, hopefully one that has a practical side as well. After the collapse, lots of people started their own businesses when they realized there were no jobs to be found. It would be better if you get started now, just in case you ever need it in order to earn a living.
These are my recommendations. I know many people could have used such advice back when our economy collapsed.
Some common questions regarding hyperinflation READ MORE
How quickly does it happen?
These events occur fast, but there are warning signs: lack of investment, higher interest rates, unemployment. When banks start coming up with excuses so as to not give you your money right away when closing an account, that’s usually not a good sign.
As for inflation and hyperinflation, they happen right in front of your eyes. It actually happened to me that the price of an item I picked in a store almost doubled in price by the time I reached the cash register. The employee just placed the sticker with the new price over the old one (no time to remove them) Employees rushed around changing prices several times a day, all day long, during the ongoing crisis. It was fun to peel back the stack of stickers with the different prices and see how they had gone up in a matter of hours. Rioting happens fast, too. Once the banks close, rioting is just minutes away.
What happens to your savings/investments?
I didn’t have much but managed to close my account just a day before the banks closed their doors. My parents are accountants and saw the signs mentioned earlier. When we went to the bank, a nice lady told us they didn’t have USD$1,000 in the bank. Our jaws just dropped. That same day we went to the main branch and closed the account my sister and I had. The next day all banks closed and the accounts were frozen.
As for real estate, that was a pretty safe investment. Eventually rents went up to compensate for the devaluation. Of course, you were much better off with your money in bricks and mortar than in a bank account.
How does the populace react?
Violently, as you’d expect when your life savings are stolen from you.
What is the government saying/doing?
Laws were changed to make everything nice and legal. The excuses then-president Fernando De La Rua came up with in his speeches during the crisis just made everything worse.
Just days before the bank holidays, they promised none of that would happen. Same thing before the devaluation. They swore on their mothers’ names that they wouldn’t do such a thing – then did it the following day. Politicians tend to do such things, and they are all similar worldwide.
What happens to the capital markets?
The stock market dropped like a rock, then shut down. What surprised us the most was how everything was simply frozen in expectation. No one wanted to spend a single cent, not even to buy half gallon of paint for a work site, because you just didn’t know what would happen in a matter of hours, let alone next week. The biggest investors had sold and left the country months before everything went down. Another sign to look for.
Does violence and crime become an immediate concern?
Yes, it does. While stores were the more common targets, houses were looted, too. The best thing to do was stay home, have a defendable position, and be armed. I had looters not 20 yards away from my home. What do you do if they rush your home? Can you just open fire on them? What will they do when/if you do? All these things flash into your mind.
A significant amount of people behave themselves because they believe there’s a punishment if they do otherwise. Once that fear is removed, because the authorities have clearly lost control, you see the worst of people’s nature. It’s not a pleasant thought, but it’s better to be ready.
Take care.


investmentwatchblog--2020-04-18--Some Of This Is About Insufficient Contagion Control, And Some Of It Is About Density And Inadequate

Some Of This Is About Insufficient Contagion Control, And Some Of It Is About Density And Inadequate Medical Infrastructure:

New wave of infections threatens to collapse Japan hospitals .
Hospitals in Japan are increasingly turning away sick people as the country struggles with surging coronavirus infections and its emergency medical system collapses .
In one recent case , an ambulance carrying a man with a fever and difficulty breathing was rejected by 80 hospitals and forced to search for hours for a hospital in downtown Tokyo that would treat him .
Another feverish man finally reached a hospital after paramedics unsuccessfully contacted 40 clinics .
The Japanese Association for Acute Medicine and the Japanese Society for Emergency Medicine say @ @ @ @ @ @ @ treat people including those suffering strokes , heart attacks and external injuries .
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The “ collapse of emergency medicine ” has already happened , a precursor to the overall collapse of medicine , the Japanese Association for Acute Medicine and the Japanese Society for Emergency Medicine said in a joint statement .
By turning away patients , hospitals are putting an excessive burden on the limited number of advanced and critical emergency centers , the groups said .
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Prime Minister Shinzo Abe has said the government has @ @ @ @ @ @ @ of Sony and Toyota Motor Corp. to produce more .
Japanese hospitals also lack ICUs , with only five per 100,000 people , compared to about 30 in Germany , 35 in the U.S. and 12 in Italy , said Osamu Nishida , head of the Japanese Society of Intensive Care Medicine .
Italy ’ s 10 % mortality rate , compared to Germany ’ s 1 % , is partly due to the shortage of ICU facilities , Nishida said .
“ Japan , with ICUs not even half of Italy ’ @ @ @ @ @ @ @ fatality overshoot very quickly , ” he said .
Japan has been limiting testing for the coronavirus mainly because of rules requiring any patients to be hospitalized .
Surging infections have prompted the Health Ministry to loosen those rules and move patients with milder symptoms to hotels to free up beds for those requiring more care .
Calls for social distancing have not worked well enough in crowded cities like Tokyo , experts say , with many people still commuting to offices in crowded trains even after the prime minister declared a state @ @ @

New wave of infections threatens to collapse Japan hospitals.
Hospitals in Japan are increasingly turning away sick people as the country struggles with surging coronavirus infections and its emergency medical system collapses.
In one recent case, an ambulance carrying a man with a fever and difficulty breathing was rejected by 80 hospitals and forced to search for hours for a hospital in downtown Tokyo that would treat him. Another feverish man finally reached a hospital after paramedics unsuccessfully contacted 40 clinics.
The Japanese Association for Acute Medicine and the Japanese Society for Emergency Medicine say many hospital emergency rooms are refusing to treat people including those suffering strokes, heart attacks and external injuries. . . .
The “collapse of emergency medicine” has already happened, a precursor to the overall collapse of medicine, the Japanese Association for Acute Medicine and the Japanese Society for Emergency Medicine said in a joint statement. By turning away patients, hospitals are putting an excessive burden on the limited number of advanced and critical emergency centers, the groups said. . . .
Prime Minister Shinzo Abe has said the government has secured 15,000 ventilators and is getting support of Sony and Toyota Motor Corp. to produce more.
Japanese hospitals also lack ICUs, with only five per 100,000 people, compared to about 30 in Germany, 35 in the U.S. and 12 in Italy, said Osamu Nishida, head of the Japanese Society of Intensive Care Medicine.
Italy’s 10% mortality rate, compared to Germany’s 1%, is partly due to the shortage of ICU facilities, Nishida said. “Japan, with ICUs not even half of Italy’s, is expected to face a fatality overshoot very quickly,” he said.
Japan has been limiting testing for the coronavirus mainly because of rules requiring any patients to be hospitalized. Surging infections have prompted the Health Ministry to loosen those rules and move patients with milder symptoms to hotels to free up beds for those requiring more care.
Calls for social distancing have not worked well enough in crowded cities like Tokyo, experts say, with many people still commuting to offices in crowded trains even after the prime minister declared a state of emergency.


investmentwatchblog--2020-04-18--CBS AND PBS FINALLY MENTION THE JOE BIDEN SEXUAL ASSAULT…BARELY.

The Morning Rising show mentioned that Biden has done 11 interviews with the media , and has been asked 81 questions , since the Tara Reade allegation .
Not a single person in the media bothered to ask Joey Fingers about it .
They also noted that Joey Fingers is picking and choosing only the friendliest , most obviously on-the-team “ journalists ” to talk to .
So every time you see these people asking Sundown Joe questions , remember , they ’ ve been specifically chosen because of their positive partisan bias .
CBS and PBS did finally at @ @ @ @ @ @ @ Of course they did not ask Joe Biden about it , nor did they report any answers about it that they received from the Biden campaign .
So they also didn ’ t bother to email the campaign about it .
( Or , at least : they decided to embargo any mention of the response . )
A CBS reporter asked Bernie Sanders if Bernie Sanders thought that the allegation against Joe Biden was worth discussing .
I ’ d like to hear how Joe Biden answers that question .
Of course @ @ @ @ @ @ @ .
PBS is even worse — partisan hack and War Whore Christiana Amanapour asked DNC Tom Perez only how he is “ going to deal with these allegations.
” Not about the allegations themselves , of course !
No , she was just asking him about their tactics in “ dealing ” with the allegations .
Boy , really giving it to him with both barrels , huh , Christiana ?
She did not ask : Why doesn ’ t “ # BelieveAllWomen ” apply here ?
Is the Democrat Party really committed @ @ @ @ @ @ @ only deployed for partisan advantage ?
Does Tom Perez believe all women ?
If not , why not ?
So of course the DNC Media doesn ’ t ask DNC personnel those questions .
You ’ re not protecting Joey Fingers here , you know .
Because Trump and the RNC are going to run clips of Tara Reade ’ s accusation , accompanied by pictures of Joe Biden sniffing teenagers ’ necks , at a time of their own choosing .
And you can ’ t stop those ads , either .
@ @ @ @ @ @ @ ’ ll be taken to federal court , and you ’ ll lose .
This is going to be a huge story , Media .
Joe Biden is going to get the Brett Kavanaugh treatment whether you like it or not .

via ace.mu.nu
The Morning Rising show mentioned that Biden has done 11 interviews with the media, and has been asked 81 questions, since the Tara Reade allegation.
Not a single person in the media bothered to ask Joey Fingers about it.
They also noted that Joey Fingers is picking and choosing only the friendliest, most obviously on-the-team “journalists” to talk to. So every time you see these people asking Sundown Joe questions, remember, they’ve been specifically chosen because of their positive partisan bias.
CBS and PBS did finally at least mention the allegation, obliquely. Of course they did not ask Joe Biden about it, nor did they report any answers about it that they received from the Biden campaign. So they also didn’t bother to email the campaign about it. (Or, at least: they decided to embargo any mention of the response.)
A CBS reporter asked Bernie Sanders if Bernie Sanders thought that the allegation against Joe Biden was worth discussing.
I’d like to hear how Joe Biden answers that question.
Of course, he won’t have to.
PBS is even worse — partisan hack and War Whore Christiana Amanapour asked DNC Tom Perez only how he is “going to deal with these allegations.” Not about the allegations themselves, of course!
No, she was just asking him about their tactics in “dealing” with the allegations.
Boy, really giving it to him with both barrels, huh, Christiana?
She did not ask: Why doesn’t “#BelieveAllWomen” apply here? Is the Democrat Party really committed to that line, or is it only deployed for partisan advantage?
Does Tom Perez believe all women? If not, why not?
Those are tough questions.
So of course the DNC Media doesn’t ask DNC personnel those questions.
Note to the media:
You’re not protecting Joey Fingers here, you know. Because Trump and the RNC are going to run clips of Tara Reade’s accusation, accompanied by pictures of Joe Biden sniffing teenagers’ necks, at a time of their own choosing.
And you can’t stop those ads, either. You’ll try, but you’ll be taken to federal court, and you’ll lose.
This is going to be a huge story, Media. Joe Biden is going to get the Brett Kavanaugh treatment whether you like it or not.


investmentwatchblog--2020-04-18--The largest US bank is quietly shutting down ahead of a historic defaul shitstorm that is about to h

The largest US bank is quietly shutting down ahead of a historic defaul shitstorm that is about to hit the US.

Earlier this week , JPMorgan reported that its loan loss provision surged five fold to over $ 8.2 billion for the first quarter , the biggest quarterly increase since the financial crisis ( even if its total reserve for losses is still a fraction of what it was during the 2008-2009 crash ) .
And while Jamie Dimon was mum on how much more losses the bank may be forced to take in coming quarters to offset the coming default surge ( something we discussed in Houston : The Banks Have A Huge Problem ) , it hinted that things @ @ @ @ @ @ @ it first halted all non-Paycheck Protection Program based loan issuance for the foreseeable future ( i.e.
, all non-government guaranteed loans ) because as we said “ the only reason why JPMorgan would “ temporarily suspend ” all non-government backstopped loans such as PPP , is if the bank expects a default tsunami to hit coupled with a full-blown depression that wipes out the value of any and all assets pledged to collateralize the loans.
” Then , just a few days later , the bank also said it would raise its mortgage @ @ @ @ @ @ @ a new mortgage will need a credit score of at least 700 , and will be required to make a down payment equal to 20 % of the home ’ s value , a dramatic tightening since the typical minimum requirement for a conventional mortgage is a 620 FICO score and as little as 5 % down .
Reuters echoed our gloomy take , stating that “ the change highlights how banks are quickly shifting gears to respond to the darkening U.S. economic outlook and stress in the housing market , after measures @ @ @ @ @ @ @ people out of work and plunged the country into recession.
” In short , JPM appears to be quietly exiting the origination of all interest income generating revenue streams over fears of the coming recession , which prompted us to ask “ just how bad will the US depression get over the next few months if JPMorgan has just put up a “ closed indefinitely ” sign on its window.
” That question was especially apt today , when JPM exited yet another loan product , when it announced that it has stopped @ @ @ @ @ @ @ , or HELOC , applications .
The bank confirmed that this change was made due to the uncertainty in the economy , and didn ’ t give an end date to the pause according to the Motley Fool .
Like in the other previous exits , the move doesn ’ t affect customers who already have HELOCs with the bank .
They ’ ll still be able to withdraw funds on their existing HELOCs as they wish .
With HELOCs generally seen as riskier for banks than purchase or refinance mortgages as they @ @ @ @ @ @ @ , it was only a matter of time before the bank – which had already exited new first-lien loan issuance would but up a “ closed ” sign on this particular product .
In short , JPMorgan wants no part of the shitstorm that is about to be unleashed on middle America , and especially the housing sector which is about to be hammered like never before .
While the U.S. housing market was on a steady footing earlier this year , all hell broke loose as a result of the economic paralysis @ @ @ @ @ @ @ pandemic .
And with would-be home buyers unable to view properties or close purchases due to social distancing measures , the health crisis now threatens to derail the sector , especially as banks are going to make it next to impossible to get a new mortgage .

via Zerohedge:
Earlier this week, JPMorgan reported that its loan loss provision surged five fold to over $8.2 billion for the first quarter, the biggest quarterly increase since the financial crisis (even if its total reserve for losses is still a fraction of what it was during the 2008-2009 crash).
And while Jamie Dimon was mum on how much more losses the bank may be forced to take in coming quarters to offset the coming default surge (something we discussed in Houston: The Banks Have A Huge Problem), it hinted that things are about to get much worse when it first halted all non-Paycheck Protection Program based loan issuance for the foreseeable future (i.e., all non-government guaranteed loans) because as we said “the only reason why JPMorgan would “temporarily suspend” all non-government backstopped loans such as PPP, is if the bank expects a default tsunami to hit coupled with a full-blown depression that wipes out the value of any and all assets pledged to collateralize the loans.”
Then, just a few days later, the bank also said it would raise its mortgage standards, stating that customers applying for a new mortgage will need a credit score of at least 700, and will be required to make a down payment equal to 20% of the home’s value, a dramatic tightening since the typical minimum requirement for a conventional mortgage is a 620 FICO score and as little as 5% down. Reuters echoed our gloomy take, stating that “the change highlights how banks are quickly shifting gears to respond to the darkening U.S. economic outlook and stress in the housing market, after measures to contain the virus put 16 million people out of work and plunged the country into recession.”
In short, JPM appears to be quietly exiting the origination of all interest income generating revenue streams over fears of the coming recession, which prompted us to ask “just how bad will the US depression get over the next few months if JPMorgan has just put up a “closed indefinitely” sign on its window.”
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That question was especially apt today, when JPM exited yet another loan product, when it announced that it has stopped accepting new home equity line of credit, or HELOC, applications. The bank confirmed that this change was made due to the uncertainty in the economy, and didn’t give an end date to the pause according to the Motley Fool.
Like in the other previous exits, the move doesn’t affect customers who already have HELOCs with the bank. They’ll still be able to withdraw funds on their existing HELOCs as they wish.
With HELOCs generally seen as riskier for banks than purchase or refinance mortgages as they represent a second lien on the home, it was only a matter of time before the bank – which had already exited new first-lien loan issuance would but up a “closed” sign on this particular product.
In short, JPMorgan wants no part of the shitstorm that is about to be unleashed on middle America, and especially the housing sector which is about to be hammered like never before.
While the U.S. housing market was on a steady footing earlier this year, all hell broke loose as a result of the economic paralysis and deepening depression resulting from the Coronavirus pandemic. And with would-be home buyers unable to view properties or close purchases due to social distancing measures, the health crisis now threatens to derail the sector, especially as banks are going to make it next to impossible to get a new mortgage.


investmentwatchblog--2020-04-18--100% Proof Pelosi Kills The PPP & Brags About It In Front Of Her WELL STOCKED $24,000 Freezer?

Dems need to be purged from our republic .

Dems need to be purged from our republic.
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investmentwatchblog--2020-04-18--Antibody tests in Santa Clara County show that 2.5% and 4.2% have them, yet tests of front line Wuha

Antibody tests in Santa Clara County show that 2.5% and 4.2% have them, yet tests of front line Wuhan responders show just 2-3%. Are these antibody tests reliable?

They clearly show higher immune rate in a lower impact community .
The numbers are very low in either case @ @ @ @ @ • The researchers asked more than 3,000 people to volunteer for antibody testing .
• @ @ @ @ @ 48,000 and 81,000 people could have been infected with Covid-19 in Santa Clara County .
@ @ @ @ @ higher than the official numbers .

by zettajohn
They clearly show higher immune rate in a lower impact community. The numbers are very low in either case to hope for herd immunity
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Serology testing from Wuhan indicates only 2-3% have antibody among 8,600 hospital workers and visitors, with much more testing in the works t.co/ujYD4ZnE29
by @JNBPage (where there were >50,000 confirmed cases) pic.twitter.com/xZP7iYel21 — Eric Topol (@EricTopol) April 17, 2020
The researchers asked more than 3,000 people to volunteer for antibody testing.
The results indicated that between 48,000 and 81,000 people could have been infected with Covid-19 in Santa Clara County.
That’s far higher than the official numbers.
www.cnbc.com/2020/04/17/santa-clara-covid-19-antibody-study-suggests-broad-asymptomatic-spread.html


investmentwatchblog--2020-04-18--All nursing home staff, residents to be tested for COVID-19 under new executive order in West Virgin

All nursing home staff, residents to be tested for COVID-19 under new executive order in West Virginia

The additional three deaths are an 85-year old woman from Wood County and a 74-year old woman and 91-year old @ @ @ @ @ County .
The two women from Wayne County were both residents of Wayne Nursing and @ @ @ @ @ facility ’ s parent company AMFM .
Altogether , there have been 16 deaths statewide @ @ @ @ @ confirmed cases in West Virginia .
“ There have been 19,088 laboratory results received for @ @ @ @ @ , 18,313 negative and 16 deaths , ” it said in a release .

The additional three deaths are an 85-year old woman from Wood County and a 74-year old woman and 91-year old woman, both from Wayne County. The two women from Wayne County were both residents of Wayne Nursing and Rehabilitation, according to the facility’s parent company AMFM.
Altogether, there have been 16 deaths statewide.
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The DHHR reports 775 confirmed cases in West Virginia. “There have been 19,088 laboratory results received for COVID-19, with 775 positive, 18,313 negative and 16 deaths,” it said in a release.
www.wsaz.com/content/news/All-nursing-home-staff-residents-to-be-tested-for-COVID-19-under-new-executive-order-569727441.html


investmentwatchblog--2020-04-18--EXPOSED: LIES, CORRUPTION, & PAY TO KEEP THE PUBLIC IN A FEAR-INDUCED PANIC FOR ULTIMATE CONTROL

The ruling class and elitists of the planet are lying to our faces !
Even by their own numbers , this COVID-19 pandemic doesn ’ t qualify for the massive response .
Hospitals have now exposed that the government is paying them more to put patients on ventilators , whether they need it or not .
This has become a controlling scam-demic .
Anyone with the smallest ability to read even mainstream media ’ s reports of the statistics should have known that the powers that shouldn ’ t be are trying their hardest to induce fear to take ultimate @ @ @ @ @ @ @ have spoken up about how the government demanded they bump up the number of deaths by mislabeling death certificates , and more continue to speak out .
BOMBSHELL : MN Senator Reveals HHS “ Coaching Document ” On How To OVERCOUNT Coronavirus Cases Another COVID-19 Whistleblower : A Montana Dr. Says Government Is Drastically Overstating Deaths Dr. Scott Jensen was one of the first to speak out .
In addition to saying the government is encouraging hospitals to record all deaths as COVID-19 deaths , he says they are also paying hospitals to @ @ @ @ @ @ @ now Medicare is determining that if you have a COVID-19 admission to the hospital you get $ 13,000 .
If that COVID-19 patient goes on a ventilator you get $ 39,000 , three times as much .
Nobody can tell me after 35 years in the world of medicine that sometimes those kinds of things impact on what we do .
”

by Mac Slavo of SHTFplan
The ruling class and elitists of the planet are lying to our faces! Even by their own numbers, this COVID-19 pandemic doesn’t qualify for the massive response. Hospitals have now exposed that the government is paying them more to put patients on ventilators, whether they need it or not.
This has become a controlling scam-demic. Anyone with the smallest ability to read even mainstream media’s reports of the statistics should have known that the powers that shouldn’t be are trying their hardest to induce fear to take ultimate control over our lives. Several doctors have spoken up about how the government demanded they bump up the number of deaths by mislabeling death certificates, and more continue to speak out.
BOMBSHELL: MN Senator Reveals HHS “Coaching Document” On How To OVERCOUNT Coronavirus Cases
We are primarily funded by readers. Please subscribe and donate to support us!
Another COVID-19 Whistleblower: A Montana Dr. Says Government Is Drastically Overstating Deaths
Dr. Scott Jensen was one of the first to speak out. In addition to saying the government is encouraging hospitals to record all deaths as COVID-19 deaths, he says they are also paying hospitals to overexaggerate the entire outbreak.
“Right now Medicare is determining that if you have a COVID-19 admission to the hospital you get $13,000. If that COVID-19 patient goes on a ventilator you get $39,000, three times as much. Nobody can tell me after 35 years in the world of medicine that sometimes those kinds of things impact on what we do.”
This is absolutely bone-chilling.


investmentwatchblog--2020-04-18--Oil Crisis Challenges Putin’s Power

Oil Crisis Challenges Putin’s Power

Russian President Vladimir Putin refuses to yield under pressure .
That is a matter of pride for Putin himself and a key aspect of his appeal to Russian elites and the public alike .
The trick is preserving that reputation in the real world , where leaders routinely miscalculate and pivot while remaining loathe to admitting mistakes .
The plunge in oil prices because of the COVID-19 pandemic and the collapse of the OPEC+ agreement on production cuts provide the most recent test .
In early March , the Saudis called for a meeting of the OPEC+ group to agree @ @ @ @ @ @ @ million barrels a day to support oil prices as COVID-19 spread , crushing economic activity and demand .
The Russians balked .
According to the spokesperson of Rosneft , Russia ’ s oil-sector national champion run by Igor Sechin , a close associate of Putin ’ s : “ This deal made no sense from the standpoint of Russian interests .
By removing cheap Arab and Russian oil from our own markets , we open up the way for expensive American shale oil.
” Moscow wanted to maintain current levels of production for @ @ @ @ @ @ @ sense of the economic consequences of the spreading pandemic before deciding on further cuts .
And , when those cuts came , it wanted to make sure that the United States bore its fair share .
Moscow also had other reasons for wanting to strike a blow against the American energy sector .
Late last year , Washington levied sanctions against Nord Stream 2 , a strategic gas pipeline between Russia and Germany , pushing back its completion date by at least several months and raising costs , at a time when American @ @ @ @ @ @ @ More recently , the United States sanctioned a Rosneft subsidiary , Rosneft Trading , for assisting the Maduro regime in circumventing US restrictions on Venezuelan oil exports .
But Moscow did not anticipate the Saudi reaction to its refusal to agree to further cuts .
The Saudis ’ threat to open the spigot and offer steep discounts on their oil exports pushed oil prices down to lows not seen in decades .
The price war had begun , even if only the Saudis were prosecuting it robustly : The Saudis had the capacity @ @ @ @ @ @ @ , the Russians , 300,000 .
True to form , Moscow was defiant .
Despite Russia ’ s dependence on oil for two-thirds of its export earnings and 40 percent of its budget revenue , the Ministry of Finance announced that Russia could withstand prices as low as $ 25 a barrel for up to ten years .
It would draw on its $ 150 billion National Wealth Fund to cover gaps in the budget , currently based on an oil price of $ 42 a barrel .
That was certainly an exaggeration @ @ @ @ @ @ @ would suffer significant damage in the short term if wells had to be capped .
Still , the ministry sent the unequivocal message that Moscow would not back down .
Downward slide : Many governments slow economic activity in response to the COVID-19 pandemic , yet an OPEC+ agreement to slash output may not lift prices to early March levels ( Source : Investing.com ) Despite such rhetoric , the collapse in oil prices raised grave domestic challenges for Putin .
Earlier this year , in Russia ’ s analog to the State @ @ @ @ @ @ @ his determination to stimulate the economy and raise living standards , which have largely stagnated for the past six years .
The bleak socioeconomic conditions were fueling discontent across the country , as Russians protested over educational , health and ecological matters , as well as official corruption , callousness and incompetence .
The unrest has not risen to levels that threaten Putin , but the Kremlin has historically been wary of mass discontent – workers ’ protests after all played a role in the overthrow of Russian autocracy in 1917 and the @ @ @ @ @ @ @ .
Now , the global economic consequences of COVID-19 would inevitably slow Russian economic growth .
A prolonged collapse in oil prices would almost certainly push the economy into recession .
Putin ’ s promises evaporated .
In these circumstances , Putin needs to raise and stabilize oil prices .
The question was how to do that without appearing to yield to Saudi or American pressure .
US President Donald .
Trump gave Putin the opening he sought .
Trump initially greeted the price collapse as a “ big tax cut , ” @ @ @ @ @ @ @ he changed his tune under pressure from the domestic oil sector .
He set about trying to persuade the two strongmen he had cultivated since assuming office , Saudi Crown Prince Mohammed bin Salman and Putin , to agree to major production cuts .
On March 31 , Trump called Putin to discuss the novel coronavirus crisis and oil markets .
Kremlin statements routinely note who initiates the call when Putin talks to foreign leaders , and the Kremlin readout makes it clear that Trump made the call – the inference was that @ @ @ @ @ @ @ relief from the price war and the pandemic .
The next day Russia sent a planeload of humanitarian assistance to New York , underscoring again that the United States , not Russia , was in need .
Three days later , Putin announced that Russia was prepared to work with its partners , the United States and Saudi Arabia , to stabilize oil markets .
Production , he said could be reduced by up to 10 million barrels day .
He supported another meeting of OPEC+ to work out the details .
As @ @ @ @ @ @ @ in US production , a key Russian goal from the outset of the crisis , would have to be part of the deal .
As Putin was pivoting , two narratives for the oil price war gained greater prominence in Russian media .
One presented the Saudis as determined to drive American shale oil off the market by cratering oil prices .
The other suggested the price war was , from the beginning , a US-Saudi conspiracy to undermine the Russian oil sector through a combination of production cuts and sanctions .
The @ @ @ @ @ @ @ will against the United States , and the second portrayed Russia as an innocent victim .
Both reinforced standard Kremlin tropes of Russian goodwill and victimhood .
Where oil prices will settle in the next few months is far from certain .
Daniel Yergin , a leading expert on the global energy sector , has noted in Foreign Affairs that prices will likely plummet in late April and May as demand plunges and storage capacity is depleted .
The cuts OPEC+ agreed to this weekend – 9.7 million barrels a day – are @ @ @ @ @ @ @ price .
In this environment , US production will inevitably drop , as Moscow wants , but so will Saudi and Russian production , beyond what was already negotiated , if not through further negotiations then through market dynamics .
No matter what Trump , MBS and Putin do , tougher times lie ahead .
But , for Russians , despite the initial miscalculations , Putin will appear as a decisive and constructive leader in battling the crisis , playing a stronger hand than Trump .
More important , Putin , and Russia @ @ @ @ @

By Yale Global Online
Russian President Vladimir Putin refuses to yield under pressure. That is a matter of pride for Putin himself and a key aspect of his appeal to Russian elites and the public alike. The trick is preserving that reputation in the real world, where leaders routinely miscalculate and pivot while remaining loathe to admitting mistakes. The plunge in oil prices because of the COVID-19 pandemic and the collapse of the OPEC+ agreement on production cuts provide the most recent test.
In early March, the Saudis called for a meeting of the OPEC+ group to agree on further drastic production cuts of 1.5 million barrels a day to support oil prices as COVID-19 spread, crushing economic activity and demand. The Russians balked. According to the spokesperson of Rosneft, Russia’s oil-sector national champion run by Igor Sechin, a close associate of Putin’s: “This deal made no sense from the standpoint of Russian interests. By removing cheap Arab and Russian oil from our own markets, we open up the way for expensive American shale oil.” Moscow wanted to maintain current levels of production for a few months to get a better sense of the economic consequences of the spreading pandemic before deciding on further cuts. And, when those cuts came, it wanted to make sure that the United States bore its fair share.
Moscow also had other reasons for wanting to strike a blow against the American energy sector. Late last year, Washington levied sanctions against Nord Stream 2, a strategic gas pipeline between Russia and Germany, pushing back its completion date by at least several months and raising costs, at a time when American shale gas was entering European markets. More recently, the United States sanctioned a Rosneft subsidiary, Rosneft Trading, for assisting the Maduro regime in circumventing US restrictions on Venezuelan oil exports.
But Moscow did not anticipate the Saudi reaction to its refusal to agree to further cuts. The Saudis’ threat to open the spigot and offer steep discounts on their oil exports pushed oil prices down to lows not seen in decades. The price war had begun, even if only the Saudis were prosecuting it robustly: The Saudis had the capacity to add 2.5 million barrels a day, the Russians, 300,000. True to form, Moscow was defiant. Despite Russia’s dependence on oil for two-thirds of its export earnings and 40 percent of its budget revenue, the Ministry of Finance announced that Russia could withstand prices as low as $25 a barrel for up to ten years. It would draw on its $150 billion National Wealth Fund to cover gaps in the budget, currently based on an oil price of $42 a barrel. That was certainly an exaggeration, and the Russian oil industry itself would suffer significant damage in the short term if wells had to be capped. Still, the ministry sent the unequivocal message that Moscow would not back down.
We are primarily funded by readers. Please subscribe and donate to support us!
Downward slide: Many governments slow economic activity in response to the COVID-19 pandemic, yet an OPEC+ agreement to slash output may not lift prices to early March levels (Source: Investing.com)
Despite such rhetoric, the collapse in oil prices raised grave domestic challenges for Putin. Earlier this year, in Russia’s analog to the State of the Union address, Putin stressed his determination to stimulate the economy and raise living standards, which have largely stagnated for the past six years. The bleak socioeconomic conditions were fueling discontent across the country, as Russians protested over educational, health and ecological matters, as well as official corruption, callousness and incompetence. The unrest has not risen to levels that threaten Putin, but the Kremlin has historically been wary of mass discontent – workers’ protests after all played a role in the overthrow of Russian autocracy in 1917 and the collapse of the Soviet Union in 1991.
Now, the global economic consequences of COVID-19 would inevitably slow Russian economic growth. A prolonged collapse in oil prices would almost certainly push the economy into recession. Putin’s promises evaporated. In these circumstances, Putin needs to raise and stabilize oil prices. The question was how to do that without appearing to yield to Saudi or American pressure.
US President Donald. Trump gave Putin the opening he sought. Trump initially greeted the price collapse as a “big tax cut,” but by the end of March, he changed his tune under pressure from the domestic oil sector. He set about trying to persuade the two strongmen he had cultivated since assuming office, Saudi Crown Prince Mohammed bin Salman and Putin, to agree to major production cuts.
On March 31, Trump called Putin to discuss the novel coronavirus crisis and oil markets. Kremlin statements routinely note who initiates the call when Putin talks to foreign leaders, and the Kremlin readout makes it clear that Trump made the call – the inference was that Trump, not Putin, urgently needed relief from the price war and the pandemic. The next day Russia sent a planeload of humanitarian assistance to New York, underscoring again that the United States, not Russia, was in need. Three days later, Putin announced that Russia was prepared to work with its partners, the United States and Saudi Arabia, to stabilize oil markets. Production, he said could be reduced by up to 10 million barrels day. He supported another meeting of OPEC+ to work out the details. As far as Moscow was concerned, cuts in US production, a key Russian goal from the outset of the crisis, would have to be part of the deal.
As Putin was pivoting, two narratives for the oil price war gained greater prominence in Russian media. One presented the Saudis as determined to drive American shale oil off the market by cratering oil prices. The other suggested the price war was, from the beginning, a US-Saudi conspiracy to undermine the Russian oil sector through a combination of production cuts and sanctions. The first narrative absolved Russia of any ill will against the United States, and the second portrayed Russia as an innocent victim. Both reinforced standard Kremlin tropes of Russian goodwill and victimhood.
Where oil prices will settle in the next few months is far from certain. Daniel Yergin, a leading expert on the global energy sector, has noted in Foreign Affairs that prices will likely plummet in late April and May as demand plunges and storage capacity is depleted. The cuts OPEC+ agreed to this weekend – 9.7 million barrels a day – are insufficient to stave off the decline in price. In this environment, US production will inevitably drop, as Moscow wants, but so will Saudi and Russian production, beyond what was already negotiated, if not through further negotiations then through market dynamics. No matter what Trump, MBS and Putin do, tougher times lie ahead. But, for Russians, despite the initial miscalculations, Putin will appear as a decisive and constructive leader in battling the crisis, playing a stronger hand than Trump. More important, Putin, and Russia, did not yield.
By Yale Global Online


investmentwatchblog--2020-04-18--The Miami Beach Convention Center is completely turned into a Hospital!

The Army Corps of Engineers has just completed turning the Miami Beach Convention Center into a Field Hospital after the @ @ @ @ @ it over to the NG .
Anyone think it is strange they completed this so @ @ @ @ @ Or is it for when the food runs out ?
One by One , Miami @ @ @ @ @ the Coronas 4/17/2020 .
Light symptoms , right :

The Army Corps of Engineers has just completed turning the Miami Beach Convention Center into a Field Hospital after the curve has flattened and handed it over to the NG.
Anyone think it is strange they completed this so late in the game? Or is it for when the food runs out?
www.remiamibeach.com/citywide/miami-beach-convention-center-lease-for-temporary-hospital-includes-a-reduced-rental-rate-sanitization-requirements/
We are primarily funded by readers. Please subscribe and donate to support us!
One by One, Miami Police Chief test positive for the Coronas 4/17/2020. Light symptoms, right:
www.local10.com/news/local/2020/04/18/miami-police-chief-tests-positive-for-coronavirus/
AC


investmentwatchblog--2020-04-18--Berkshire will shut some businesses, stay cautious in coronavirus ‘typhoon,’ Munger tells WSJ

( Reuters ) – Warren Buffett ’ s Berkshire Hathaway Inc < BRKa.N > will close some smaller businesses and @ @ @ @ @ it rides out the coronavirus pandemic , Berkshire Vice Chairman Charlie Munger said in an @ @ @ @ @ “ We ’ re like the captain of a ship when the worst typhoon that @ @ @ @ @ , ” the 96-year-old Munger said in an interview with The Wall Street Journal .
@ @ @ @ @ Berkshire safe for people who have 90 % of their net worth invested in it @ @ @ @ @ “ That doesn ’ t mean we couldn ’ t do something pretty aggressive or @ @ @ @ @ basically we will be fairly conservative .
And we ’ ll emerge on the other @ @ @ @ @

finance.yahoo.com/news/berkshire-shut-businesses-stay-cautious-184551618.html
(Reuters) – Warren Buffett’s Berkshire Hathaway Inc will close some smaller businesses and is positioning itself conservatively as it rides out the coronavirus pandemic, Berkshire Vice Chairman Charlie Munger said in an article published on Friday.
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“We’re like the captain of a ship when the worst typhoon that’s ever happened comes,” the 96-year-old Munger said in an interview with The Wall Street Journal.
“Warren wants to keep Berkshire safe for people who have 90% of their net worth invested in it,” Munger added. “That doesn’t mean we couldn’t do something pretty aggressive or seize some opportunity. But basically we will be fairly conservative. And we’ll emerge on the other side very strong.”


investmentwatchblog--2020-04-18--One trip per week. One person per household. That should be the law for grocery buying, union says |

One trip per week. One person per household. That should be the law for grocery buying, union says | CBC News

‘ It ’ s just a free-for-all in these grocery stores right now ’ Western Canada ’ s largest private-sector union is proposing that people be limited to one trip to the grocery store each week to prevent the spread of COVID-19 among customers and workers .
Tom Hesse , president of the United Food and Commercial Workers 401 , which represents 32,000 workers , said governments should also bring in regulations that allow only one person per family in a store at a time .
“ We ’ re going to ask for clear rules that are enforceable with @ @ @ @ @ @ @ fact of the matter is we can ’ t let these places become nursing homes and it ’ s just a free-for-all in these grocery stores right now , ” Hesse told The Canadian Press .
The union suggests loyalty programs and membership cards could be used to track visits and peace officers may be needed to enforce the regulations .
While people can be fined for violating social distancing rules inside grocery stores , Hesse said it ’ s still unsafe .
“ I walked down the street from my house and @ @ @ @ @ @ @ the monkey bars and I ’ m told that if I get on those monkey bars I can get a $ 1,000 fine , ” he said .
“ But they ’ re letting hundreds of people wander through grocery stores .
So where ’ s the regulatory regime ?
” Hesse said the union will be sending an official proposal to the Alberta government and grocery store chains next week and hopes that a nation-wide implementation will eventually occur .
He said government regulation is required because self-regulation by the grocery industry @ @ @ @ @ @ @ henhouse .
”

‘It’s just a free-for-all in these grocery stores right now’
Western Canada’s largest private-sector union is proposing that people be limited to one trip to the grocery store each week to prevent the spread of COVID-19 among customers and workers.
Tom Hesse, president of the United Food and Commercial Workers 401, which represents 32,000 workers, said governments should also bring in regulations that allow only one person per family in a store at a time.
“We’re going to ask for clear rules that are enforceable with fines in a regulatory regime. The fact of the matter is we can’t let these places become nursing homes and it’s just a free-for-all in these grocery stores right now,” Hesse told The Canadian Press.
The union suggests loyalty programs and membership cards could be used to track visits and peace officers may be needed to enforce the regulations.
We are primarily funded by readers. Please subscribe and donate to support us!
While people can be fined for violating social distancing rules inside grocery stores, Hesse said it’s still unsafe.
“I walked down the street from my house and they’ve got yellow tape around the monkey bars and I’m told that if I get on those monkey bars I can get a $1,000 fine,” he said.
“But they’re letting hundreds of people wander through grocery stores. So where’s the regulatory regime?”
Hesse said the union will be sending an official proposal to the Alberta government and grocery store chains next week and hopes that a nation-wide implementation will eventually occur. He said government regulation is required because self-regulation by the grocery industry would be “the fox guarding the henhouse.”
www.cbc.ca/news/canada/calgary/ufcw-one-trip-per-week-grocery-store-1.5536614


investmentwatchblog--2020-04-18--‘Amazon is not taking care of us’: Warehouse workers say they’re struggling to get paid despite sick

‘Amazon is not taking care of us’: Warehouse workers say they’re struggling to get paid despite sick leave policy

• Amazon said it would provide workers with up to two weeks of paid sick leave if they tested positive or are in quarantine due to the coronavirus .
• But five Amazon workers told CNBC they ’ ve received no pay or were given 60 % of their typical weekly paycheck , despite meeting the requirements for paid sick leave .
• Many of them are now applying for unemployment benefits in order to make up for gaps in their income .
Sharlene wanted to continue reporting to her job at Amazon .
She needed the money to pay @ @ @ @ @ @ @ But after a trip to the emergency room , Sharlene , who didn ’ t want her full name used out of fear of retribution from her employer , was instructed to self-quarantine .
She was experiencing shortness of breath and worried that her weak immune system , asthma and COPD , a lung disease , would put her at risk if she returned to work .
“ I thought , if I catch the coronavirus and go on a respirator , there ’ s no way I ’ m going to make @ @ @ @ @ @ @ , ” she said tearfully .
“ I would not make it through it .
I ’ m not strong enough.
” Sharlene is one of many Amazon warehouse workers who are currently in quarantine , either out of fear of catching the virus , experiencing symptoms of the virus or after learning they had been previously exposed to someone diagnosed with the coronavirus .
Amazon has said it will provide up to two weeks of paid sick leave for all full- and part-time employees who show symptoms , have the virus or @ @ @ @ @ @ @ also offering unlimited unpaid time off for all hourly employees through the end of April .
n France Amazon was trialed for endangering its employees : it had to close all its warehouses for 5 days and can not sell anything but books and 1st necessity items until the 22nd of April

Amazon said it would provide workers with up to two weeks of paid sick leave if they tested positive or are in quarantine due to the coronavirus.
But five Amazon workers told CNBC they’ve received no pay or were given 60% of their typical weekly paycheck, despite meeting the requirements for paid sick leave.
Many of them are now applying for unemployment benefits in order to make up for gaps in their income.
Sharlene wanted to continue reporting to her job at Amazon. She needed the money to pay her bills and support her family.
But after a trip to the emergency room, Sharlene, who didn’t want her full name used out of fear of retribution from her employer, was instructed to self-quarantine. She was experiencing shortness of breath and worried that her weak immune system, asthma and COPD, a lung disease, would put her at risk if she returned to work.
“I thought, if I catch the coronavirus and go on a respirator, there’s no way I’m going to make it off because of my health problems,” she said tearfully. “I would not make it through it. I’m not strong enough.”
Sharlene is one of many Amazon warehouse workers who are currently in quarantine, either out of fear of catching the virus, experiencing symptoms of the virus or after learning they had been previously exposed to someone diagnosed with the coronavirus.
Amazon has said it will provide up to two weeks of paid sick leave for all full- and part-time employees who show symptoms, have the virus or are in quarantine. The company is also offering unlimited unpaid time off for all hourly employees through the end of April.
www.cnbc.com/2020/04/08/amazon-warehouse-workers-say-they-struggle-to-get-paid-despite-sick-leave-policy.html
We are primarily funded by readers. Please subscribe and donate to support us!
n France Amazon was trialed for endangering its employees :
it had to close all its warehouses for 5 days
and cannot sell anything but books and 1st necessity items until the 22nd of April
Translate this :
www.leparisien.fr/economie/amazon-condamne-a-ne-plus-livrer-que-les-produits-alimentaires-medicaux-et-d-hygiene-14-04-2020-8299380.php
AC