ECONOMY | WHAT REALLY HAPPENED X-Frame-Options: SAMEORIGIN

ECONOMY

Apr 03 12:27

Officials: Paddleboarder arrested at Malibu Pier for flouting state stay at home order

A paddleboarder was arrested in Malibu Thursday after ignoring lifeguards' orders to get out of the ocean amid social distancing rules, authorities said.

The lifeguards flagged down deputies for assistance, but the man ultimately chose to stay in the water alongside the Malibu Pier for about 30 to 40 minutes, Los Angeles County sheriff's officials said in a Facebook post.

Deputies summoned their patrol boat from Marina Del Rey, and the man swam to shore once it arrived, officials said.

Apr 03 12:19

Our Sourdough Cultures

We currently grow and harvest 17 authentic cultures collected from Australia to Russia and from many other countries at our Idaho facilities. The dried cultures are packaged in Mylar envelopes containing a 1 ounce, (28 gram) mixture of dormant sourdough organisms and the flour in which they were grown. If properly cared for they will remain viable and useful for your lifetime.

Apr 03 12:16

10 Signs The US Is Heading For A Depression

Apr 03 12:11

Ground Control to Planet Lockdown: This Is Only a Test

Let’s cross this over with some facts and dissident opinion, in the interest of fostering an informed debate.

The report Covid-19 – Navigating the Uncharted was co-authored by Dr. Anthony Fauci – the White House face of the fight –, H. Clifford Lane, and CDC director Robert R. Redfield. So it comes from the heart of the U.S. healthcare establishment.

The report explicitly states, “the overall clinical consequences of Covid-19 may ultimately be more akin to those of a severe seasonal influenza (which has a case fatality rate of approximately 0.1%) or a pandemic influenza (similar to those in 1957 and 1968) rather than a disease similar to SARS or MERS, which have had case fatality rates of 9 to 10% and 36%, respectively.”

Apr 03 10:55

Why U.S. Shale Will Survive The Oil Price War

Apr 03 10:52

COVID-19 Alert No. 2March 24, 2020

More evidence of fraud?

Should “COVID-19” be reported on the death certificate only with a confirmed test?

COVID-19 should be reported on the death certificate for all decedents where the disease caused or is assumed to have caused or contributed to death.

Certifiers should include as much detail as possible based on their knowledge of the case, medical records, laboratory testing, etc. If the decedent had other chronic conditions such as COPD or asthma that may have also contributed, these conditions can be reported in Part II. (See attached Guidance for Certifying COVID-19 Deaths)

Apr 03 08:26

Countries are avoiding the U.S dollar!

Apr 03 08:06

‘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 03 07:44

Federal Budget Deficits: To $30T and Beyond

Apr 03 06:47

If This Chart Breaks Down, We Crash

Apr 03 06:19

Shocking scenes in Orlando where half-mile line of cars wait for food bank after theme parks' shutdown put thousands out of work - as government reveals coronavirus has so far made 10 million Americans unemployed

Just weeks ago the snaking, hours-long lines were packed with thrill-seekers eagerly awaiting their turns on the world famous rides and attractions.

Today, the hundreds of families flocking to a church parking lot across town from Orlando's iconic resorts and theme parks are here for a starkly different reason: survival.

'In the amusement parks, the purpose or the outcome is about having joy or a thrill,' says mom-of-three Glenda Hernandez, winding down her window to speak with a DailyMail.com reporter.

'This is about having a child's belly full for the night or the next couple of nights on whatever they give us.'

Apr 03 06:18

Here Comes The Next Crisis: Up To 30% Of All Mortgages Will Default In "Biggest Wave Of Delinquencies In History"

Unlike in the 2008 financial crisis when a glut of subprime debt, layered with trillions in CDOs and CDO squareds, sent home prices to stratospheric levels before everything crashed scarring an entire generation of homebuyers, this time the housing sector is facing a far more conventional problem: the sudden and unpredictable inability of mortgage borrowers to make their scheduled monthly payments as the entire economy grinds to a halt due to the coronavirus pandemic.

And unfortunately this time the crisis will be far worse, because as Bloomberg reports mortgage lenders are preparing for the biggest wave of delinquencies in history. And unless the plan to buy time works - and as we reported earlier there is a distinct possibility the Treasury's plan to provide much needed liquidity to America's small businesses may be on the verge of collapse - an even worse crisis may be coming: mass foreclosures and mortgage market mayhem.

Apr 03 06:08

Saudi Arabia calls for urgent OPEC+ meeting to stabilise oil markets

Saudi Arabia yesterday called for an urgent meeting of the OPEC+ oil producers with the “aim of seeking a fair agreement that will restore the desired balance to the oil markets”, state-run Saudi Press Agency reported.

The agency said the Saudi invitation came after a phone call between US President Donald Trump and Crown Prince Mohammed Bin Salman.

Apr 03 06:06

Gold and Silver Coin and Bar Premiums – What Is Happening?

When people are worried about the future they turn to gold to protect their savings. That’s rarely been more true than today.

Surging demand and disruptions from the coronavirus pandemic have created a shortage of the small gold bars most popular with consumers. Those who do manage to get their hands on metal have to pay up –- well above the per-ounce prices being quoted on financial markets in London and New York.

Some dealers are desperately contacting clients to see if anyone is willing to sell their gold bars and coins, and offering a rare premium over spot prices. Others have given up trying to trade altogether.

“People want to buy, not to sell gold,” said Mark O’Byrne, the founder of GoldCore, a dealer based in Dublin. “We have a buyers’ waiting list and we emailed our clients seeing who wished to sell their gold. At this time there is roughly only one or two sellers for every 99 buyers.”

Apr 03 05:37

Watch Live: As Anxieties Grow, Mnuchin Promises 'Paycheck Protection Program' Will Be On-Line "Tomorrow"

Following reports that small banks were on the verge of pulling out of the administration's $350 billion "Paycheck Protection Program" over fears they might be blamed for corruption and fraud due to hurried oversight, the White House got Jovita Carranza (the woman who replaced Linda McMahon at the helm of the SBA) and Steve Mnuchin out in front of the cameras to deny reports about a "power struggle" or someother breakdown between them.

In addition to assuring the press that they had stayed up "until 4 am" to smooth out all issues, Mnuchin and Carranza insisted that checks would start landing in bank accounts and small businesses would have access to the loan programs (remember, this money was supposed to cover rent, utilities and payroll due on April 1) which would be "up and running tomorrow."

Apr 03 05:35

"This Is Turning Into A Disaster" - Some Americans Might Wait 20 Weeks Or Longer For Stimulus Checks

It looks like the real inside scoop as to what's happening over at Treasury right now is coming courtesy of the CEO of Lendio, a startup focusing on lending to small businesses, who says he was on a recent conference call with the SBA and Treasury.

CEO Brock Blake said that a "power struggle" between the SBA and Treasury is holding up the extremely critical $350 billion loan program that's supposed to save all of America's non-chain restaurants, and other small and family-owned businesses.

Apr 03 05:34

Russia, Saudis Deny Trump "Expectation" Of 10 Million bpd Oil Production Cut

Well, it appears that we officially have no deal, because moments ago Russia's energy minister Novak made it clear that instead of cutting supply, Moscow will wait for demand to return:

Apr 03 05:33

GE Aviation Lays Off 50% Of Engine Manufacturing Staff

Unlike Boeing, which offered all of its 160,000 employees "voluntary buyouts" just so it can still keep its bailout option alive which would certainly be snuffed if the company were to announce mass layoffs, General Electric has no such qualms and moments ago the company told CNBC that it is planning to furlough half of its aviation unit’s engine-manufacturing staff as the coronavirus roils the industry.

“Due to the unprecedented impact of COVID-19 on the commercial aviation industry, GE Aviation is implementing a temporary reduction in commercial engine assembly and some component manufacturing operations for up to four weeks,” a GE spokesperson said. “We appreciate the commitment of all our employees during this difficult time, and we regret having to take this action. We will continue to deliver for our customers and preserve our capability to respond when the industry recovers.”

Apr 03 05:23

China rolls out the Health Silk Road

When President Xi Jinping was on a phone call in mid-March with Italian Prime Minister Giuseppe Conti, before the arrival of a China Eastern flight from Shanghai to Milan full of medical help, the key takeaway was the Chinese pledge to develop a Health Silk Road (Jiankang Sichou Zhilu).

That was in fact already inbuilt in the Belt and Road Initiative playbook since at least 2017, under the framework of enhanced, pan-Eurasian health connectivity. The pandemic only accelerated the timeline. The Health Silk Road will run in parallel to the multiple overland Silk Road corridors and the Maritime Silk Road.

Apr 03 04:36

Mnuchin Says Energy Firms Can Be Bailed Out By The Fed

As part of the Coronavirus CARES Act, the $2 trillion fiscal stimulus meant to resuscitate the US economy, Congress allocated $454 billion to help underwrite the special lending programs from the Federal Reserve. This could generate up to $4.540 trillion in new lending (assuming 10x leverage for highly-rated assets) likely geared toward small and medium-sized businesses.

It now turns out that the first industry to benefit from direct Fed loans is the imploding US energy sector, which for the past decade benefited indirectly from Fed generosity by issuing junk bonds to yield starved investors who are now facing near certain bankruptcy in the face, as the price of oil - if it stays at this level - assures they will never be repaid.

Apr 03 04:33

Wall Street Wins Again: Banks Force Treasury To Double Rate On Small Business Rescue Loan

And so Wall Street wins again.

After we warned earlier that the SBA's $350BN Paycheck Protection Program, which is expected to be launched at midnight tonight and is meant to bailout America's small and medium business (<500 employees), may never even get off the ground because the proposed interest rate on the loan of 0.5% is too low lender banks (alongside with various other considerations as listed below) with JPM saying it “will most likely not be able to start accepting applications on Friday, April 3rd as we had hoped", in a press conference late on Thursday, Steven Mnuchin said that he will double the interest rate on the SBA loan from 0.50% to 1.00% in order to appease banks seeking higher interest rates to participate in the Treasury's bailout program and lend money to the same taxpayers who bailed them out 12 years ago.

Apr 03 04:17

This Is What Economic Collapse Looks Like

Apr 02 22:16

This Is What Economic Collapse Looks Like

Even before any of us ever heard of “COVID-19”, our world was already descending into madness, but now this pandemic has certainly accelerated things. -- Millions of Americans have already lost their jobs, and the days ahead are going to be exceedingly challenging. -- This is what an economic collapse looks like, and it is just getting started.

Apr 02 22:08

The ‘Whatever It Takes’ Decade

Apr 02 21:43

Memorandum of Understanding between the Minister of Finance and the Reserve Bank of New Zealand regarding the use of alternative monetary policy tools

For the purposes of clarification only, some alternative monetary policy tools potentially available to the MPC include, but are not limited to:

•The use of a negative OCR;
•Large-scale purchases of New Zealand government bonds;
•Large-scale purchases of private sector assets;
•Large-scale purchases of foreign-currency assets;
•Transactions in the interest rate swap market;
•Term lending operations

3.Process for requesting indemnity.
Without an indemnity for its potential financial exposure, the Bank's view is that it would not have sufficient capital to use these AMP tools were they necessary to achieve the economic objectives. In the Bank's view, an appropriateindemnity would enhance the Bank's credibility in using the AMP tools.For this reason, the Minister and Bank agree that a process should be followedfor requesting a Crown indemnity prior to the use of any AMP tools by the Bank.

Apr 02 18:01

CEOs Stepping Down in 2020

Major CEOs who stepped down in the past month:

-DISNEY
-MASTERCARD
-LBRANDS
-UBER EATS
-HULU
-MGM
-IBM
-LINKEDIN

What's going on, y'all?

Apr 02 17:00

10 Signs The US Is Heading For A Depression

Thursday’s jobless claims leave no doubt that the country is in the grips of another severe recession. More than 6.6 million Americans filed for unemployment insurance in the last week. That number exceeds the gloomiest prediction of more than 40 economists and pushes the two-week total to an eye-watering 10 million claims.

Apr 02 16:21

The Stock Market Is Not a Magic Money Machine

Apr 02 11:57

CNBC: PUTIN SEEKING TO CREATE NEW WORLD ORDER WITH ‘ROGUE STATES’ AMID CORONAVIRUS CRISIS, REPORT CLAIMS

SOURCE: CNBC

Russian President Vladimir Putin and his administration are using the coronavirus crisis to spread conspiracy theories in a bid to “subvert the West” and create a new world order, a new report has alleged.

In an article published Wednesday by The University of Calgary’s School of Public Policy, it’s claimed Russia has been “churning out propaganda that blames the West for creating the virus.” The report’s author, Sergey Sukhankin, said the state was propagating disinformation and conspiracy theories via social media accounts, fake news outlets, state-controlled media, pseudo-scientists and Russians living in the West. The Kremlin has previously denied such claims.

“Putin’s larger goal in spreading propaganda and conspiracy theories is to subvert the West,” Sukhankin said.

“Russia seeks to seriously damage the solidarity among EU members and capitalize on any internal European weaknesses to promote broader conflicts

Webmaster's Commentary: 

ARE YOU FLIPPING KIDDING ME?!?!?

Russia, and Putin, don't have to lift a fingernail, to make life as we knew it in the US and West to collapse, like a miserably engineered bridge, structural support by structural support.

Russia doesn't need any help doing this; if anything, these self-inflicted wounds by the Western economy, exacerbated by the handling of Covid 19, was a "perfect storm", to demonstrate how much better Russia is right now, in mobilizing against a real crisis, than what the US and the West have done here, ikn their mis-appropriation, and mismanagement.

Apr 02 11:36

Police in India raise coronavirus awareness with virus costumes while directing traffic, on patrol

Can it get anymore ridiculous. The Emperor wears no clothes.

In order to raise awareness about coronavirus, apparently, you sometimes have to wear it.

Police officers in one India city are now wearing virus costumes as part of an awareness campaign about COVID-19.

Apr 02 10:52

It's Time to Make Jeff Bezos Pay

As COVID-19 begin to mount, American workers are deciding to fight back.

Jeff Bezos, who is worth $100 billion dollars, has capitalized on the unfair advantage his company has now that many states have forced non-essential brick and mortar shops to close down.

Amazon has been on a massive hiring spree, packing thousands of new workers into its unsanitary and cramped warehouses. The drastic increase in demand and desire for pandemic profiteering has led to employees even in warehouses with confirmed COVID-19 cases to push through physically taxing, poorly compensated, longer than usual shifts. Individual workers must touch countless packages every day, while not being granted sufficient gear and precautionary measures that could slow efficiency. Health insurance or the hazard pay they deserve is off the table. This is not only dangerous for the workers, but it could spread the virus to customers across our nation as well.

Apr 02 10:46

Citigroup, an Admitted Felon with a History of Abusing Customers, Is Handling Billions from the Stimulus Bill

Yesterday CNBC reported that Citigroup is one of the banks selected by the Small Business Administration to handle billions of dollars earmarked in last week’s stimulus bill to help small businesses get back on their feet and keep their employees paid during the coronavirus crisis. Citigroup’s Citicorp subsidiary was charged with, and pleaded guilty to, a criminal felony count brought by the U.S. Department of Justice on May 20, 2015 for its role in rigging foreign currency trading. Its rap sheet for a long series of abuses to its customers and investors since 2008 is nothing short of breathtaking. (See its rap sheet at the end of this article.)

Apr 02 09:50

"US Labor Market Is In Free-Fall" - 10 Million Americans Have Filed For Unemployment In Past 2 Weeks

We’ve lost 46 jobs for every confirmed case of COVID-19 in the US...

Apr 02 09:19

Trump Asks Putin for Help in Oil War

Donald Trump called Russian president Vladimir Putin on Monday to discuss plunging oil prices that are wreaking havoc on America’s shale oil industry. The two leaders talked briefly about the coronavirus pandemic but quickly switched to Trump’s real concern which is oil production.

Apr 02 06:12

When Will Stocks & The Economy Recover?

Apr 02 04:33

Peak services consumption hit by sector

Apr 02 04:08

China's Ports Brace for Second Hit as Virus Spread Wipes Out Exports

China's ports and shipping firms are bracing for a second wave of supply chain disruptions that may be deeper and more prolonged than during the country's coronavirus lockdown as the global spread of the virus chokes off international demand.

With Beijing reporting only sporadic domestic transmission of the coronavirus since March, workers have been allowed to return to posts, factories are restarting and ports are rushing to clear a backlog of cargoes.

But with virus outbreaks now overwhelming healthcare systems and shutting logistics channels in other major economies, exporters and industry analysts warn that global demand for products made and shipped out of China looks set to plunge.

Apr 02 04:07

$1 Oil: Saudi Arabia's Attempt To Crush U.S. Shale

After having crashed nearly 70 percent in the first three months of 2020, benchmark WTI prices are trying to form a bottom around $20 per barrel.

But this psychological threshold is looking increasingly shaky as global crude storage facilities are filling up at an unprecedented pace. OPEC and its partners officially ended their output cut deal today, following the words of Russian Energy Minister Novak that every producer is ‘’free to pump at will’’.

With a flood of physical crude set to hit the market, it will take weeks, not months, for global oil storage space to run out. The storage problem could grow even worse as refining capacity is coming offline due to coronavirus health risks and in some cases a (very) negative crack spread caused by a double whammy of low fuel demand and crude oversupply.

Apr 02 03:59

Lines stretch at California food banks near Disneyland as 'The Happiest Place on Earth's' home city is crippled by its closure and charities warn of 40-fold increase in pleas for help

Food banks near Disneyland say they have experienced a 40-fold increase in people asking for help in the days since the Californian city's biggest employer closed, cratering the local economy.

Disney has said it will continue to pay the 32,000 employees who work at its California theme park through April 18 but the knock-on effect has hit other businesses hard.

Other large employers have furloughed staff and locals warn that their city is a canary in the coalmine for other parts of the country.

The pandemic has wreaked havoc on the US economy, with three million new jobless claims last week and even more expected to be announced on Thursday when weekly figures are published.

Apr 02 03:55

REVEALED: MONSANTO PREDICTED CROP SYSTEM WOULD DAMAGE US FARMS

SOURCE: THE GUARDIAN
The US agriculture giant Monsanto and the German chemical giant BASF were aware for years that their plan to introduce a new agricultural seed and chemical system would probably lead to damage on many US farms, internal documents seen by the Guardian show.

Risks were downplayed even while they planned how to profit off farmers who would buy Monsanto’s new seeds just to avoid damage, according to documents unearthed during a recent successful $265m lawsuit brought against both firms by a Missouri farmer.

The documents, some of which date back more than a decade, also reveal how Monsanto opposed some third-party product testing in order to curtail the generation of data that might have worried regulators.

And in some of the internal BASF emails, employees appear to joke about sharing “voodoo science” and hoping to stay “out of jail”.

Webmaster's Commentary: 

How is it that a frankenchemical, engineered to cause harm to both crops and humans, is allowed to continue to exist over time?!?

The short answer, is that Bayer/Monsanto has bribed/lied/contributed their way to "product bullet-proofness", until very recently.

This should never have happened, and should never happen again in this country, but you can bet your sweet bippie that it will.

And why do I say this?!?

Because those executives in these companies have never had to go to jail, for signing off on projects which damage both crops, and human health, in this magnitude.

THAT, my friends, needs to get fixed, and quickly.

IF EVER, there were two companies

Apr 02 03:50

Unemployment Claims Will SHATTER All Records on Thursday — Trump Blamed for GREATEST US DEPRESSION

TOMORROW IS GOING TO BE UGLY! Last week a record 3.3 million Americans shattered the record and filed for unemployment benefits.

On Thursday that number is expected to SMASH ALL RECORDS!

Apr 02 03:47

WALL STREET HAD CUT 68,000 JOBS AND RECEIVED TRILLIONS IN EMERGENCY LOANS PRIOR TO COVID-19 ANYWHERE IN THE WORLD

SOURCE: WALL STREET ON PARADE
On March 26 Federal Reserve Chairman Jerome Powell went on the Today show to deliver one message: “There is nothing fundamentally wrong with our economy.” Recently U.S. Treasury Secretary Steve Mnuchin has appeared on the White House lawn to tell reporters that this is nothing like the last financial crisis. Fed regional bank presidents have appeared on cable news asserting that the Wall Street banks have plenty of capital and today’s economic distress is caused solely by the coronavirus. Even New York Times columnist and perpetual Wall Street cheerleader, Paul Krugman, was on CNBC this week reassuring viewers that today’s problem was not like the last financial crisis.

And yet – the facts keep getting in the way of this “official” narrative.

Webmaster's Commentary: 

Nothing IS fine, nor will even the appearance of "fine" be possible for those affected both medically and financial by this Covid 19 debacle.

Apr 02 03:43

MIKE POMPEO: CORONAVIRUS CRISIS "LIVE EXERCISE"?!

SOURCE: YOUTUBE
Pompeo admitted on CNN that “we’re in a live exercise here” when referring to COVID-19 during a press conference. This is yet more evidence that the entire coronavirus crisis has been scripted, planned for and orchestrated. The language that Pompeo used – “live exercise” – is eerily reminiscent of language used in false flag operations when the exercise or drill “went live”, i.e. when the very scenario that the authorities were planning for actually happened (see 9/11, 7/7 and numerous US mass shootings) as they were in the middle of their exercise.

Webmaster's Commentary: 

The man needs to be deposed, under oath, and forced to tell the American public (and the world) precisely what he meant by that statement.

Of course, right now, that will happen... only when pigs discover that they are aerodynamic.

Apr 02 03:31

See The World’s Airports Empty Out As Coronavirus Spreads [Animation]

Air travel is slowing dramatically amid the coronavirus pandemic. The number of seats on scheduled flights this week was down 15% worldwide compared to the week of January 20, according to data from OAG, but that understates the severity of the downturn given how many planes have been flying mostly empty. Foot traffic at airports may provide a better picture.

For example, on Wednesday, Milan’s airport, at the epicenter of the outbreak in Italy, was 80% less busy than usual, and foot traffic at New York’s John F. Kennedy airport was off 35%, based on data from Google’s tracking of smartphone users’ locations compiled by Wanderlog.

Apr 02 02:54

The US Powerball Jackpot Is Now An Incredible $180 Million - And You Can Play To Win It!

US Powerball is America’s leading lottery, offering players the world’s biggest jackpot prizes in history. The lottery is known for its enormous starting jackpot that’s known to grow to incredible heights before being claimed! In 2016, the lottery paid out a mind-boggling $1.586 million jackpot prize to three lucky players, effectively shattering all previous world records.

Apr 01 18:58

"We're Thinking About Doing That" - President Trump Now Considers Limits on Domestic Flights and Passenger Trains

President Trump was asked on Wednesday by Jeff Mason from Reuters if he will shut down flights and passenger train travel over fears of the coronavirus.

President Trump responded, “We’re thinking about doing that. Those are very, very big decisions from the standpoint of the future of our country in a way.”

Apr 01 17:49

RESTAURANT APOCALYPSE: More than 110,000 restaurants expect to close up forever in the coming weeks, with millions out of work and the industry's future uncertain

The restaurant industry lost an estimated $25 billion in sales and more than three million jobs in the first 22 days of March, as the coronavirus outbreak swept the US.
Roughly 30,000 restaurants have already closed for good across the country, with more than 110,000 expected to shutter in the next month, according to estimates by the National Restaurant Association.

Apr 01 15:18

SEC Extended 1st Quarter Reporting by 45 Days

Apr 01 13:01

It is all about the banks once again

Apr 01 11:32

Oil Stocks Haven’t Hit The Bottom Just Yet

Apr 01 09:03

Moody's global default outlook

Apr 01 08:19

Thousands of tenants across the US threaten to go on 'rent strike' and say they will not pay landlords during the coronavirus pandemic as millions are left out of work

With millions of people suddenly out of work and rent due at the first of the month, some tenants are vowing to go on a rent strike until the coronavirus pandemic subsides.

On Wednesday, $81 billion in commercial and residential rent will come due across the U.S., and nobody is certain how many tenants will be unable, or simply unwilling, to pay.

New York, Boston, Los Angeles, San Francisco and St. Louis are among many cities that have temporarily banned evictions, but advocates for the strike are demanding that rent payments be waived, not delayed, for those in need during the crisis.

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