Archive for April 2020
“We Are Moving Into The End-Game”: 27 Tankers Anchored Off California, Hundreds Off Singapore As Oil Industry Shuts Down
Back in the late fall of 2014, when Saudi Arabia broke up OPEC for the first time and unleashed a torrent of crude oil on the world despite the protests of its fellow cartel members, oil prices crashed as a result of what then seemed to be a “calculated” move by Riyadh which hoped to…
Read MoreFront-Month WTI Crude Crashes Below Zero For First Time Ever
Over the last several decades, have we ever seen a year start as strangely as 2020 has? Global weather patterns have gone completely nuts, large earthquakes are popping off like firecrackers, it looks like the plague of locusts in Africa could soon develop into the worst in modern history, and a massive plague of bats…
Read MoreWe’re Not Going Back To ‘Normal’…
Turn the key and the economy will restart. That’s a myth a lot of people in the mainstream have peddled since governments started shutting down the economy in response to the coronavirus pandemic. That’s not going to happen. We’re not going back to normal. In fact, things weren’t “normal” before the pandemic. As Peter Schiff…
Read MoreJPMorgan Profit Plunges To 7 Year Low On $6.8 Billion In Loan Loss Reserves As Dimon Warns Of “Severe Recession”
And so the worst quarterly earnings season since the financial crisis (at least until the catastrophic Q2 earnings) is off, when moments ago JPMorgan reported that it missed expectations, with earnings plunging from a year ago, reporting Q1 adjusted revenue of $29.07 billion, which was -2.6% y/y, and missed the estimate of $29.52 billion, while…
Read MoreGuggenheim Warns Of Coming Emerging Market Apocalypse: “Pandemic Will Be Followed By Food Shortages, Social Unrest”
Global capital markets are not pricing in the growing likelihood that defaults by large corporate borrowers in emerging markets will rise, which will set up another cascade of market events like the downward trajectory we saw in 1997. Video concealedcarryuniversity Despite the massive programs that have been swiftly put in place by central banks and…
Read MoreSmall Business Guarantees Are A Bucket Of Moral BS Fraud
The coronavirus Small Business Relief program is a bucket of first come first serve moral fraud. The New York Times says Small-Business Relief Effort ‘a Mess’ The Hill says Small businesses still struggling for loans even as $100B is approved The Trump administration has approved roughly $100 billion of the $350 billion allocated for emergency loans to…
Read MoreMichael ‘Big Short’ Burry Blasts “Unjustifiable” Lockdowns As “Most Devastating Economic Force In History”
Infamous for his painful but ultimately profitable “big short” bet against mortgage-backed securities during the 2008 financial crisis, Michael Burry, the doctor-turned-hedge-fund-manager has been on a multi-day Twitter rant claiming that the lockdowns intended to contain the COVID-19 pandemic are worse than the disease itself. Echoing the thoughts of many, Burry opined in a series of…
Read More