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ECONOMY

Apr 07 07:19

Venezuela’s Maduro pens open letter to Americans

Venezuelan President Nicolas Maduro has released a letter addressed to the American people urging them to prevent what he calls the madness that drives the government of President Donald Trump.

In the letter, Maduro says Trump seems determined to fulfill his threats of a military invasion against the Latin American country. Maduro stated that the country cannot accept war threats, nor the intention to install an international guardianship that would violate the country’s sovereignty.

The Venezuelan leader also demanded an end to the illegal sanctions and blockade by the US, which have impeded the import of humanitarian goods to fight the coronavirus outbreak in the country. Maduro said Trump must by no means be allowed to "lead the US into another conflict, like in Vietnam, or Iraq."

Webmaster's Commentary: 

People in Caracas, including President Maduro, actually believe that Americans will have the opportunity to read this letter, and respond to it intelligently and humanely, asking their government to do the same.

However, unless one reads the English language version of presstv.com; telesurenglish.net; informationclearinghouse.info; thealtworld.com; en.granma.cu; liberationnews.org; telesurtv.net; or, ultimately, WRH, one is not going to know that such an open letter from Maduro's even exists.

IF one looks at Foxnews.com; the latimes.com; or nytimes.com, you will see nothing of this appeal by Maduro; it is as though it never existed.

So I, as an American citizen, who very much cares about her country's future, am compelled to ask the current Trump Administration; please, with regard to both Iran and Venezuela, loosen some of the worst embargo strictures on these pandemic-hit countries, and show yourselves as the international humanitarians you claim to be.

President Trump, I would politely suggest that the world is watching your actions right now, even over and above anything you might say.

Apr 07 07:18

3 Banks Have Run Dry

Apr 07 06:42

 "We Will Whip You" - Zambian Police Crackdown On Non-Quarantine-Compliant Citizens

We noted on Monday that Africa could be facing an economic collapse amid the COVID-19 pandemic. At least 54 countries on the continent have imposed lockdowns, curfews, and or travel bans to mitigate the spread of the virus. In Zambia, a country with 17 million people, has shut down casinos, cinemas, and schools to minimize people's movements.

Police Spokeswoman Esther Mwaata Katongo told Diamond TV Zambia in a local television interview that the police are enforcing a lockdown with hard measures for non-compliant civilians, reported RT News.

"Zambian police have whips. So, if you want to dare authorities, if you want to dare the police, then you are welcome," Katongo said in a TV interview as she showed off a baton that officers are using.

Webmaster's Commentary: 

Police Spokesperson Mwaata Katongo, a word, please; if your police whip non-compliers of the curfew, are they not spreading the disease with the droplets left behind by the physical contact between the whips and potentially contaminated human blood?!?

This is a hard one; but ALL of us have to think this through a lot better than we have been until now. I am amazed that none of the scientists advising Zambian police, have not mentioned this possibility, and that fact that such behaviour on the part of Zambian police, could lead to more infections, rather than fewer.

Apr 07 06:35

A New Viral Infection: Leaders Seizing Power, Police Bullying Citizens

ass surveillance is only ever in the news for two reasons—either because a whistleblower has exposed structural government overreach (as happened with Edward Snowden) or because nations are readying to fight a common threat. Over the past two decades, those threats have usually come either from migration or terrorism.

Webmaster's Commentary: 

You need t following article by Michael Snyder:
o look at the following article, appearing yesterday at zerohedge.com (and if you have never checked them out, you should; it is not that occasionally, Mike and I don't disagree with them, but I have a great respect, generally, for what this blog turns out, and/or links to, as in the case of this article by Michael Snyder:

the article goes on to state: "I know that all of this sounds incredibly bizarre, but it is really happening. The following is what one of my contacts reported when she visited her local Walmart…

Wow, so we just got back from walmart in Pine Bluff, AR….they herded us in, like cattle…I kid you not….we had to go through a taped-off line and they had only one door open instead of the two they normally have. They have a 5 person limit in Magnolia, AR…..and security guards at the door as well…armed security guards. You can only buy one loaf of bread and the store closed at 7PM…normally open 24 hours. It is CRAZY….someone opened a side door by accident and alarms started going off. I joked to the lady next to me “Oh crap, someone must have taken more than a dozen eggs!”

You can see some video of what these taped off entry corridors looks like right here. Obviously a lot of the customers are quite concerned about potentially catching the virus because they are wearing masks or other coverings over their mouths."

Apr 07 06:22

The World’s Biggest Oil Deal Can’t Save Crude Prices

G20 countries are set to send their oil minister for an emergency meeting on Friday, a sign that there is a chance that OPEC and Russia can pull in other oil-producing countries into a global production cut. Sentiment around the odds of a massive production cut deal have seemingly gyrated just as much as oil prices. Last week, President Trump’s tweet was met with euphoria by oil traders but skepticism by analysts. A day later, the odds seemed to improve dramatically and OPEC+ agreed to hold a meeting on Monday after Russia voiced some degree of support. But Trump dashed hopes again after he emerged from a meeting with American oil executives and said that the free market would sort things out.

Apr 07 06:22

Uber’s Green Competitor That’s Taking The World By Storm

As the global economy faces $1 trillion in damages within five years because of climate change, the explosive ride-sharing business is facing heightened scrutiny as one of the transportation sector’s biggest new polluters.

So, when a group of tech innovators with a vision of environmental and social responsibility from Ontario’s ‘Silicon Valley’ unleashed the next generation of CO2-reduced ride-sharing, Wall Street is likely to pay attention.

Ride-sharing 2.0 is being redefined by Facedrive (TSX:FD.V), which now offers riders something they can’t get from Uber or Lyft: A carbon-offset way to share a ride.

Apr 07 06:21

Stark photos show miles-long row of cars waiting outside a Florida food bank as demand surges by 600 per cent and more than half-a-million residents file for unemployment

Dramatic images from South Florida on Monday show a long line of cars backed up bumper to bumper on a roadway while motorists wait hours to get food from a food bank.

A drone captured aerial shots of vehicles waiting in line in Sunrise, Florida, just northwest of Fort Lauderdale, on Monday.

The motorists were waiting to receive food from Feeding South Florida, a food bank that relies on donations to feed the poor.

Feeding South Florida has seen a 600 per cent increase in the number of people asking for food as millions have been laid off due to the coronavirus outbreak.

Apr 07 06:15

Bailing-Out The Bailed-Out

“I’ve never signed anything with a ‘T’ before,” Donald Trump quipped at the signing of the $2 trillion CARES Act. He reportedly wants his signature on coronavirus relief checks, as if they were Trump Plaza casino chips. This might be a fitting metaphor for America’s post-virus economic future.

The new bailout bill, which combined with a series of Federal Reserve interventions is more like a $6 trillion rescue, is a massive double-down on the 2008 rescue efforts.

Apr 07 06:14

Boeing Troubles Continue

Boeing has had a rough couple of years, starting with two separate 737 MAX crashes in October 2018 and March 2019, respectively, which killed a combined 346 people.

Boeing saw net total orders drop to negative 87 airplanes last year, its worst in decades. For comparison, its main competitor Airbus saw a net 768 orders last year.

Boeing's troubles continued into this year as production of the 737 MAX continues to remain halted. In January, Boeing reported zero net orders, while in February the company reported negative 28 net orders.

With Boeing already facing significant challenges, the coronavirus outbreak has added additional pressure to the company.

Apr 07 06:14

Food-Banks Warn They'll Soon Run Out Of Food As Economic Suffering Explodes All Over America

What are hungry Americans going to do when the food banks don’t have any more food for them? Over the past couple of weeks, we have witnessed the largest spike in unemployment in all of U.S. history. Since most of those workers did not have any sort of a cushion to fall bank on, a lot of of them have been forced to seek out emergency assistance for themselves and their families almost immediately. Of course our national network of food banks was not built to handle this sort of a scenario, and as you will see below, many of them are already starting to run out of food. But if things are this bad at the very beginning of this new economic downturn, what are things going to look like a few months from now?

Apr 07 06:13

ALMOST HALF OF SMALL BUSINESS WILL CLOSE IF THEY CANNOT REOPEN SOON

In a new survey of small business owners, almost half (43%) say their livelihood is on the line and they are going to be forced to close permanently if they cannot resume normal activities soon. One in 10 (11%) are less than one month away from permanently going out of business thanks to the government’s response to the coronavirus outbreak.

Additionally, about one in four (24%) small businesses have already shut down temporarily in response to the government’s demands to do so during the COVID-19 panic and overreaction. Among those that have not, 40% say they are likely to close at least temporarily within the next two weeks. This means a total of 54% of all small businesses report that they have closed or expect to close temporarily in the next 14 days.

Apr 07 06:12

NEW SURVEY: 60% OF AMERICANS CANNOT PROVIDE BASIC NECESSITIES IF QUARANTINED FOR 1 MONTH

The solution to the coronavirus pandemic has been nothing short of economic suicide. As this lockdown drags into the fourth month for most of the country, a new survey is revealing the bleak costs that Americans are paying in order to comply with the government’s commands to shut down the economy.

Some are saying social distancing is the “new normal”, but we’d beg to differ. The new normal is going to be poverty for most of the country.

Almost 60 percent of Americans say they’d be unable to meet their basic financial needs in one month or less of quarantine, according to a survey. The Society for Humane Resource Management (SHRM) surveyed American workers between 12 and 16 March, according to a report by Newsweek. One in five people said they’d no longer be able to afford rent, bills or groceries after just one week of quarantine.

Apr 07 06:11

Gold Gains 3% To $1,672 and Silver Surges 5% To $15.40; Goldman Warns Of $3 Trillion Explosion In U.S. Debt

Gold surged 2.9% and silver by 5% yesterday, with futures leading the way higher with gold reaching it’s highest price in more than seven years

? Investors are diversifying into safe haven gold to hedge themselves from the coming destruction of balance sheets, trillions and trillions of fiscal and monetary stimulus and a likely economic depression

? JPMorgan Chase & Co.’s Jamie Dimon has blamed the pandemic on creating a “major major downturn” (see News below) and potentially an economic depression

Apr 07 05:20

France Faces Worst Recession Since 1945 Due to COVID-19 - Finance Minister

French Finance Minister Bruno Le Maire said on Monday that the COVID-19 pandemic would cause an economic recession in the country in 2020, one worse than what France experienced at the end of World War II.

"The worst numbers of growth France has shown after [the crisis of] 1945 was in 2009 after the big financial crisis of 2008: -2.2%. We will likely be far below -2,2% this year," Le Maire said, while addressing the economic affairs commission of the French Senate on Monday.

Apr 06 23:54

Modern Medicine Knew Of Zinc Cure For Coronavirus Infections A Decade Ago But Failed To Put Into Practice

In 2010 a collaboration of university-based researchers in The Netherlands and the USA reported that the combination of the trace mineral zinc plus a zinc transport molecule (ionophore) that facilitates zinc’s entry into cells efficiently impairs the replication of RNA viruses, like the newly mutated COVID-19 coronavirus, to effect a cure.

The discovery is documented in PLoS Pathogens journal, Volume 6, issue 11, November 2010.

This prior discovery appears to validate the recent report of Vladimir Zelenko MD, a New York-based physician who treated 699 consecutive cases of COVID-19 coronavirus with complete 100% success. His treatment protocol includes oral zinc, chloroquine as a zinc ionophore and an antibiotic (azithromycin).

Apr 06 23:51

The Government Wants to Decide What Items Are Essential Purchases and What Things You’re Not Allowed to Buy

Living under lockdown restrictions, prevalent in nearly every state, is about to get a whole lot worse. The government in the United States and Canada has decided to take away the guesswork in the stores that are still open and decide for you what’s “essential” and what’s not.

Apr 06 23:48

End the Shutdown; It’s Time for Resurrection!

For many millions of Christians, Easter is a time to celebrate the resurrection of Jesus Christ. Others may celebrate the arrival of spring and the promise of new life. Whatever one’s beliefs, after several weeks of mandatory “stay at home” orders and the complete shutdown of the US economy over the coronavirus, this self-destructive hysteria must end and we must reclaim the freedom and liberty that has provided us so much opportunity as Americans.

To do that we should first understand that much of the hysteria is being generated by a mainstream media that has long prioritized sensationalism over investigating and reporting the truth. Government bureaucrats are also exaggerating the threat of this virus and appear to be enjoying the power and control that fearful people are willingly handing over to them. One “coronavirus” bureaucrat even told us that we can no longer go to the grocery store! So we should just starve?

Apr 06 22:16

Rep. Massie: Corona Bailout 'Largest Wealth Transfer From Taxpayers to The Super Rich' in History

Kentucky Rep Thomas Massie shared the inside baseball on his attempt to force a vote on the $6 trillion coronavirus bailout package and how the establishment is now pouring money into his NeverTrump opponent to try and have him defeated.

Apr 06 18:54

Farmers working through COVID-19 pandemic

While many workers in Mesa County are working from home during the COVID-19 outbreak due to business restrictions put in place to slow its spread, some critical industries like agriculture do not have that option.

Apr 06 18:46

COVID-19 pandemic hits ranchers and consumers in pocketbook

HARRISONVILLE, MO (KCTV) – As more Americans start stocking up at the grocery store, meat prices are in turmoil, causing uncertainty for both ranchers and shoppers.

Apr 06 18:44

COVID-19: B.C. farms dumping milk because of problems getting it to the store

VICTORIA — B.C. dairy farmers have begun dumping out raw milk on their farms— despite rising demand and sales — because of problems getting the milk into the supply chain and to grocery stores during the COVID-19 pandemic.

In the United States, dairy farmer Jason Leedle has dumped almost 18,000 litres of milk from his 480 cows each day for a week.

“It’s just gut-wrenching,” said Leedle, 36, as he stood inside his barn, with cows lowing softly as the animals were giving milk that would be funnelled directly into a manure pit. “All I can see is that line going down the drain.”

Apr 06 18:35

We May Never Return to Normal

Millions of people may not eat today because billionaires like Bill Gates want to impose their tyranny on humanity.

To regain freedom of movement, Americans may need a certificate of vaccination. Only these people will be allowed to attend mass events, like NFL games. Presumably, only these people will be able to work and support their families.

Apr 06 16:28

German ministry warns of 'economic collapse' as end of coronavirus lockdown in sight

ANGELA MERKEL's government has today announced an exit strategy for the coronavirus lockdown, however documents have revealed the EU's largest economy could be set to be plunged into deep turmoil.

Apr 06 16:19

Official Figures: COVID-19 Yet to Impact Europe’s Overall Mortality

The official figures for 24 countries across Europe show, not only that overall mortality is not increasing, but – so far – it is actually well below recent averages.

The statistics were gathered by the European Monitoring of Excess Mortality for Public Health Action (EuroMOMO), an international partnership of agencies from 24 European nations aiming to promote preparedness for public health emergencies.

They track “excess mortality”, meaning the number of officially recorded deaths vs the average death rate.

We recommend you check their website, where each country is broken down by age demographics. Today, we’re focusing on their maps.

Apr 06 13:59

The Naval War College Ran a Pandemic War Game in 2019. The Conclusions Were Eerie

An infectious disease breaks out in a densely populated metropolis and is spreading rapidly, causing respiratory failure and death in its victims. As local containment and response mechanisms break down and cases multiply, it becomes clear that a global response -- spanning governments, humanitarian organizations, health agencies and the military -- will be required.

That scenario is not a condensed narrative of the COVID-19 pandemic that currently has much of the globe on lockdown. Rather, it's the premise of a war game run last September by the Naval War College (NWC) in Newport, Rhode Island.

Apr 06 13:46

Coronavirus: Boris Johnson moved to intensive care as symptoms 'worsen'

Prime Minister Boris Johnson has been moved to intensive care in hospital after his coronavirus symptoms "worsened", Downing Street has said.

Apr 06 13:26

Film your hospitals Dayton, Ohio COVID HOAX

I traveled to the biggest hospitals and testing center in Dayton, OH on April 5th....alllll EMPTY!

Apr 06 12:23

The Oil Giant Drowning In Debt

Apr 06 11:12

Clean & Unclean Foods & Dietary Laws The Bible and Food

Long list of animals to eat or not eat. Makes sense to me.

As discussed on page one, clean foods are those that do not harm the human body and so are fit for nourishment. Unclean foods on the other hand are those that do harm the body and hence are unhealthy to consume. The Bible clearly reveals what foods are good and bad for the human body and in Leviticus chapter 11 we find four categories that help us remember more easily a lot of what we can and cannot eat.

So note the following four scriptures to help you remember what foods are clean and unclean.

Apr 06 10:55

The Recession Bread Lines Are Forming in Mar-a-Lago’s Shadow

In Palm Beach a diner races to feed laid off workers. Food banks and pantries see surge in demand and long-term need.

Though it’s just a four-minute drive across the lagoon from Mar-a-Lago, President Donald Trump’s private club, and ten minutes from the Palm Beach outposts of Chanel and Louis Vuitton, Howley’s diner has become an emblem of America’s stark new economic reality.

With more than 10 million people across the nation suddenly unemployed, bread lines are forming in the shadows of privileged enclaves like this one in Florida.

For the past two weeks, the kitchen staff at Howley’s has been cooking up free meals—the other day it was smoked barbecue chicken with rice and beans, and salad—for thousands of laid off workers from Palm Beach’s shuttered restaurants and resorts.

Apr 06 10:47

Fooled: How Gullible Politicians Promoted the Destruction of the Global Economy and Threw Us into the Abyss of Serfdom

Anyone with some basic knowledge in mathematical modeling who had taken a look at the structure of the “Imperial College”-model would have noted the faults of this approach and its exaggerations. The model’s prognosis that the United Kingdom would have to count with more than half a million deaths and a complete overload of its health system reversed the British government’s earlier decision to use prudential surveillance and specifically targeted intervention and to shift to the full-control strategy, which required massive intervention into the public and private life of the nation. The leaders of other countries that were somewhat still in doubt jumped on the bandwagon and the march into a tyrannical State was programmed.

Apr 06 10:42

Tucker Carlson Says Fauci Has Been 'Wrong Repeatedly,' Condemns Call for National Quarantine as 'National Suicide'

n his Fox News program Friday, host Tucker Carlson said infectious disease expert Dr. Anthony Fauci had been wrong about the current coronavirus pandemic in the U.S. "repeatedly" and that his call for all states to issue stay-at-home orders would amount to "national suicide."

Apr 06 10:36

HUGE! Official IMHE Model for Coronavirus Used by CDC Just Cut Their Numbers by Half!... They're Making It Up As they Go Along!

This is quite stunning.
The government models used to predict the extent of the coronavirus pandemic are off by huge margins in the latest coronavirus tracking numbers.

The government predictions reported by the IMHE Covid Tracking (https://covidtracking.com/data/ ) for Apr 5th were as follows:

Apr 06 10:33

Never Has So Little Done So Much Harm to So Many

Mortality Rate?

In February 2020, the World Health Organization (WHO) – never known for its accuracy or consistency – declared a “Pandemic” for the coronavirus and claimed that the mortality rate for the novel coronavirus disease now designated as COVID-19 was 3.4%, while that for the seasonal flu was 0.1%. Of course, the news media ran with those numbers and splashed scary headlines across the World stating how much more deadly this new virus was than the seasonal flu. The problem with WHO’s statement, however, was that they applied two different formulas for the two viruses. For the COVID-19 disease, for example, they simply didn’t count any of the mild cases of COVID-19 that resolved themselves; yet, they did with the seasonal flu.

Apr 06 10:26

The COVID-19 Hysteria: Interesting Video Shows What Is Actually Happening At New York City Hospitals - It Is All A Scam!

One other note.... I got a follow up message just a while ago stating that hospital workers, police, ambulance drivers, firemen, etc across America have now been warned under penalty of losing their jobs to NOT engage in conversations at all with independent video investigators! THAT alone should tell everyone that the criminals are now aware that they are being watched and that they have now gone to the extreme of demanding the front line workers in this pandemic scam to keep their mouths shut and to NOT tell everyone the truth that this is indeed a scam..

More to come

Apr 06 10:20

‘Fauci Can’t Possibly Know Covid-19 Is 10x Deadlier Than Flu’ — Dr. Bhattacharya of Stanford in Superb Video Interview

“He doesn’t know. He can’t now, because nobody has done the serologic test of how many people in the population have antibodies to the virus. So that’s what you need to know. So he can’t know that, nobody knows that. So he’s reflecting his guess on what that is and I’m relecting my guess on what it is. The fact is neither of us know, neither of us know that number because there’s no scientific study yet done to establish that number in any broad population.”

Also explains the choice we are facing is “not just dollars versus lives, it’s lives versus lives,” since a “global economic collapse will cost the lives of millions of people.” He says he is “scared to death” what the economic harakiri we are committing will do to India where he still has cousins.

Apr 06 09:31

‘Worst pandemic in century’ will wipe out more than $4 TRILLION from global economy – Asian Development Bank

The global economy will see a much bigger hit from the coronavirus pandemic than previously expected, the Asian Development Bank (ADB) has warned in its annual report.

According to the gloomiest scenario presented by the bank, the impact of the “worst pandemic in a century” will be as high as $4.1 trillion, or 4.8 percent of global gross domestic product (GDP). However, even this forecast could turn out worse given the impact of the outbreak on global supply chains and how long it will take to contain the virus.

Apr 06 09:29

Wall Street titans lobby for a cut of small business bailout

Some of the richest firms in the business world — private equity companies and venture capitalists — are lobbying for their piece of the coronavirus bailout.

Groups representing the firms are urging the Trump administration to let businesses that they own apply for $350 billion in small business loans that Congress unleashed last week.

Apr 06 09:26

Fed balance sheet increases to record $5.86 trillion

The Federal Reserve’s balance sheet increased to a record $5.86 trillion this week and the central bank reported greater use of some of its newly launched liquidity facilities, all part of its efforts to keep markets functioning smoothly amid heightened volatility related to the coronavirus pandemic.

In the three weeks since the Fed’s effort to limit the economic damage from the outbreak kicked into overdrive, the central bank’s balance sheet has mushroomed by roughly $1.5 trillion. It is now the equivalent of a quarter or more of the size of the U.S. economy before the crisis struck, and will certainly grow larger in the weeks ahead as the Fed keeps piling on assets and the economy likely shrinks.

Apr 06 09:24

9.5% Unemployment Rate Is Here Already

Apr 06 06:59

Food Banks Overwhelmed As America's "Working Poor" Starve During Lockdown

America is crashing into a depression. In just two weeks, 10 million people have claimed unemployment benefits. This has put unprecedented stress on food bank networks across the country, a new investigation via The Guardian shows.

The US labor market is in free fall – the increasing lockdowns across major US metropolitan areas have forced millions of people out of work and into a hunger crisis.

The Guardian shows demand for food aid in some regions of the country has surged eightfold in recent weeks as RealInvestmentAdvice.com's Lance Roberts warns the unemployment rates in the US could spike to levels not seen since the "Great Depression," or about 15-20% in the second quarter.

Apr 06 06:59

China Prepares To Close "Oil Deal Of A Lifetime" In Iraq

Over the past week or so, China has eased quarantine measures in Wuhan – the city in which the global coronavirus pandemic began – with the entire lockdown scheduled to end on 8 April. With China’s President Xi Jinpiang having visited the city just a few days ago, the industrial economy across China as a whole is back working and operating at levels even above the pre-coronavirus rates, although the service sector remains more cautious.

For the oil industry, this means that China is back and busy taking up where it left off in terms of exploring and developing new field opportunities.

This is at a time when the U.S. is just beginning to see the full onset of coronavirus mayhem.

Apr 06 06:58

Hospital Operator Quorum Health Is Facing Bankruptcy Amidst The COVID-19 Outbreak

Quorum Health, which operates 24 hospitals in 14 states, is preparing for bankruptcy at the worst possible time: the middle of a global pandemic. The "flood" of coronavirus patients that the hospitals have experienced have put pressure on an already precarious set of financials, leaving the the company little choice, according to Bloomberg.

Quorum's executives are in the midst of negotiations with stakeholders on possible restructuring deals, but at the same time the company is preparing Chapter 11 plans. Earlier this week, the company delayed its annual report filing to focus on negotiations with its creditors. No official decision has been made.

But the worst part is that Quorum's troubles could foreshadow what's coming for the American healthcare system. Even prior to the outbreak, hospitals in rural areas were "losing profitable elective procedures to outpatient facilities while still handling patients who lack good insurance."

Apr 06 06:58

COVID-19 Is Being Used To Scare You Away From Using Cash

Cash has been the target of the banking and financial elites for years. Now, the coronavirus pandemic is being used to frighten the masses into accepting a cashless society. That would mean the death of what’s left of our free society.

CBS News, CNN, and other mainstream outlets are fearmongering again. Alarmism is nothing new in the media world, but this time, it’s not about triggering panic buying or even pushing a political agenda.

Apr 06 06:56

"They Want Their Monies Out" – Baltimore Residents 'Storm Bank' Amid Fears Of Social Unrest

The evolution of panic hoarding started with 3M N95 masks, then hand sanitizers, non-perishable foods, guns and ammo, and now cash?

A video surfaced on Instagram on Saturday, showing a possible bank run in Baltimore City at the MECU Credit Union, located at 2337 E Northern Pkwy.

Apr 06 06:53

Riyadh's Price Dumping Didn't Work, Only Joint Solution Can Revive Oil Market – Energy Experts

Saudi Arabia has called for an emergency meeting of OPEC+, as oil prices hit an 18-year low at the end of March, amid calls from US President Donald Trump to stabilise the global oil market. International energy experts say that Riyadh's power play hasn't panned out and it is time for a joint US-Saudi-Russian deal for the flailing market.

As benchmark WTI prices hit around $20 per barrel, US shale producers have urged the Trump administration to introduce punitive measures against those responsible for the dumping. On Thursday, following a phone call between President Donald Trump and Saudi Crown Prince Mohammed Bin Salman, Riyadh called upon the OPEC+ group to hold an oil meeting. The conference, initially scheduled for 6 April, was reportedly postponed till 8-9 April. Meanwhile, international experts say that it is time for Saudi Arabia to get on board and join oil producers at the negotiating table.

Apr 06 06:52

Nord Stream 2 Project: Russian Pipe-Laying Ship Reportedly on Its Way to Spanish Port

In December 2019, Russian Energy Minister Alexander Novak said that the use of the vessel Akademik Cherskiy remains one of several options to wrap up the Nord Stream 2 project, but that it will take time to prepare the ship to implement the mission.

The Gazprom-owned pipe-laying vessel Akademik Cherskiy is currently on her way to the Spanish port of Las Palmas, the ship-tracking websites Marine Traffic and Vesselfinder reported on Monday.

According to them, the ship, which left the Russian port of Nakhodka on 10 February, is due reach its destination on 18 April.

Russian Energy Minister Alexander Novak said in December that the Cherskiy may be used to wrap up the construction of the Nord Stream 2 gas pipeline.

Apr 06 06:52

Coronavirus Pandemic Will Inevitably Cause Food Crisis

The coronavirus crisis will not end anytime soon. Day after day, news about the catastrophe becomes increasingly frightening and alarming. The numbers do not indicate any sign of a truce and we cannot see improvements in the world scenario in the near future. The crisis will affect all sectors of society, damaging politics, economy, education and all branches of civilized life. However, what is most noteworthy is the impact that the pandemic will have on the most basic item of human life: food.

Apr 06 06:45

COVID-19 DEPRESSION: TRUMP NEEDS A WAR

It is seriously astounding how fast the economy is crumbling. No infusion of funny money will save the American people from the historically severe depression now evolving.

State and federal governments are becoming more authoritarian in response to serious influenza (critical data on the transmission of the disease is absent, muddled, contradictory, and the corporate media feeds a frenzy of fear and paranoia based on conflicting, revised, and often speculative numbers).

Apr 06 06:44

The Blob Sucked Away Your Public Health And Gave You War Instead

The United States will spend $1.5 trillion on the F-35 fighter plane while our health care workers do not have enough masks. We spent billions to build the health care infrastructure of Iraq and Afghanistan, but U.S. hospitals may not have enough ventilators for critically ill Americans. As a viral tsunami crashes over us, many leaders are still stuck in the past, with the secretary of state using his time to plot against Iran. In light of our scramble to find the resources to fight the pandemic, does anyone still think it was a good idea to spend more than $6 trillion on a “global war on terror?” Do you feel safer?

Apr 06 06:42

Lockheed Adds 1,000 Employees Amid Coronavirus Crisis, Wants to Hire 5,000 More

At least one defense company was hiring last month as the U.S. economy shed more than 700,000 jobs amid the pandemic: Lockheed Martin, which says it hired nearly 1,000 people in the past two weeks.

Lockheed officials say they plan to add even more employees to its roughly 110,000-person workforce in the months ahead. The company, which booked nearly $60 billion in sales last year, has 5,000 open positions as business expands amid increased Pentagon and international deals.

“In addition to continuing to support our key government customers, we recognize that providing jobs during this period of economic downturn is also critically important,” Lockheed CEO Marillyn Hewson said in a Friday statement.

Apr 06 06:41

Tourism Industry Takes Massive Financial Hit Due to COVID-19 Pandemic

Apr 06 05:46

Crude Crashes Over 10% After OPEC+ Meeting Delays

Crude prices are plunging early in Asian trading with Brent down 12% following a delay to the much-hoped-for OPEC+ meeting (due tomorrow, Monday, but now pushed off until Thursday).

Apr 06 05:42

The OPEC+ Meeting Could Send Oil Prices Crashing Below $10

Immediately after Trump’s latest OPEC twitter offensive, Saudi Arabia and Russia came out with critical statements about the impact and influence of the US president on the matter. While Putin and Mohammed bin Salman are reluctant to bash Trump, the real power when it comes to the oil market does not lie with the U.S. President.

The tweet by Trump claiming that MBS and Putin would agree to a 10+ million bpd production cut shows not only his overestimation of his own power over the two countries, but also shows a lack of knowledge about the underlying market fundamentals and the current demand destruction worldwide. As former US president George W. Bush stated during his election campaign, which did not end well as we know, “it’s the economy stupid” that matters in the end.

Trump’s tweets and general approach to this matter suggests he and his administration are out of touch with reality.

Apr 06 05:40

Low oil prices exacerbating coronavirus outbreak in Venezuela

Venezuela’s economy is facing new challenges, as the oil prices have hit record lows in the past days, dropping to as low as 18 dollars per barrel.

The oil price war between Saudi Arabia and Russia is starting to impact the Latin American nation which collects 90 percent of its income through its oil exports.

The country is now bracing for yet another crisis. The coronavirus pandemic which has been spreading around the world like wildfire has found its way into Venezuela.

On top of all these are the US sanctions against Caracas, aimed at toppling the administration of President Nicolas Maduro, which have adversely affected the country’s economy.

Apr 06 05:22

IEA: OPEC Can’t Save The Oil Market

Even if the OPEC+ group and other major oil producers in the world were to agree to deep production cuts, they would be unable to prevent what is sure to be an enormous global inventory build this quarter due to unprecedented demand destruction, Fatih Birol, Executive Director of the International Energy Agency (IEA), told Reuters on Friday.

The measures many countries have taken to try to flatten the curve of the coronavirus pandemic are destroying unprecedented volumes of oil demand as more than 3 billion people—from India to Europe to the United States—remain in lockdown.

As a result of restricted commuter travel, grounded flights, and economic slowdown, demand for oil in April is expected to drop by 20 million bpd year on year, and probably more.

Apr 06 05:21

OPEC’s Plan To Take Over The Global Oil Industry

The first three months of 2020 have shocked the global energy market to its foundations. The toxic mix of coronavirus, a global economic recession, and an unexpected OPEC+ price spat have hit ever aspect of the energy industry. The ongoing global oil and gas glut, which will become even more prominent when oil storage space hits zero, is a major threat to IOCs, independents, and minnows. The unprecedented demand destruction forecasts of 20 million barrels per day will transform the oil industry as we know it. The true impact of this toxic mix of economic, fundamental and geopolitical uncertainty remains unclear, but we can expect a wave of bankruptcies in the US shale industry, the North Sea offshore sector and across the Canadian oil and gas sector. If the current crisis is prolonged for several more months, non-OPEC countries around the globe will see oil production collapse.

Apr 06 05:11

Was the Federal Reserve Just Nationalized?

Mainstream politicians have long insisted that Medicare for all, a universal basic income, student debt relief and a slew of other much-needed public programs are off the table because the federal government cannot afford them. But that was before Wall Street and the stock market were driven onto life-support by a virus. Congress has now suddenly discovered the magic money tree. It took only a few days for Congress to unanimously pass the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which will be doling out $2.2 trillion in crisis relief, most of it going to Corporate America with few strings attached. Beyond that, the Federal Reserve is making over $4 trillionavailable to banks, hedge funds and other financial entities of all stripes; it has dropped the fed funds rate (the rate at which banks borrow from each other) effectively to zero; and it has made $1.5 trillion available to the repo market.

Apr 06 05:09

Deutsche Bank Bombshell! President Donald Trump Is Broke Again And Can’t Pay His Debts!

It’s another Deutsche Bank bombshell about President Trump. The German bank announced Trump’s company, the Trump Organization can’t make their April debt payments. Thus, the company has asked Deutsche Bank for delayed loan payments.

It seems as if Donald Trump is underwater. The what revenue he is generating from his properties is just barely covers the interest payments on his massive debts.

Apr 06 05:07

Gold Bullion Coin and Bar Shortages Continue and Deepen

The shortage of gold bullion coins and bars continues and appears to be deepening. It is not just smaller one ounce bullion coins and bars that are sold out and increasingly unavailable but also larger gold and silver bars including gold kilo bars (32.15 ozs) worth and 1,000 oz silver bars. Refineries, government mints and brokers around the world have raised premiums.

Apr 06 04:42

Liquidity was there… until you needed it

Apr 06 04:18

Reasons to be pessimistic and optimistic...

Apr 06 03:49

Business Owner Perspective

Apr 06 00:27

COVID-19 Martial Law

COVID-19 may be novel, but the Founders of the United States of America had considerable familiarity with Martial Law.

Having experienced the horrors of summary and hostile ‘justice’ under Martial Law, it is not surprising that when it came time to write the Constitution limiting the powers of the new central government there was no provision in the Constitution permitting Martial Law.

Apr 06 00:08

State unemployment systems tested by surge of applicants

Americans are seeking unemployment benefits at unprecedented levels due to the coronavirus, but many are finding more frustration than relief.

Apr 05 22:18

Timberline Lodge lays off hundreds amid virus outbreak

PORTLAND, Ore. — The historic Timberline Lodge has slashed hundreds of jobs because of the coronavirus pandemic.

Apr 05 19:58

Food Banks Warn They Will Soon Run Out Of Food As Economic Suffering Explodes All Over America

Of course our national network of food banks was not built to handle this sort of a scenario, and as you will see below, many of them are already starting to run out of food.  But if things are this bad at the very beginning of this new economic downturn, what are things going to look like a few months from now...?

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