Category: News Wire

Virus Could Push 150 Million People Into Extreme Poverty   Tyler Durden Mon, 10/12/2020 – 13:15 The World Bank suggested upwards of 150 million people could be pushed into “extreme poverty” due to the virus pandemic, erasing nearly three years of progress in global poverty reductions.  According to the report, for the first time in two decades, the virus pandemic, compounded by the effects of climate change, are slowing poverty reduction progress, resulting in an additional 88 million to 115 million people falling into extreme poverty this year, with total estimates of 150 million in 2021, depending on the economic recovery shape.  The[…]

The Hazards Of 4 More Years Of Jerome Powell Tyler Durden Mon, 10/12/2020 – 13:00 Via Birch Gold Group, Whether Trump or Biden is elected in November, they will have to decide whether or not to appoint Federal Reserve Chair Jerome Powell to another term. And if he is appointed again, the way he continues to handle the continuing ripple effects of the COVID-19 “shutdown” economy will be critical. So let’s examine why the decision to reappoint him is important, then take a quick tour of some of Powell’s recent performance. A piece from Paul R. La Monica provides a take on the importance of[…]

Nasdaq Explodes Higher Amid Unprecedented Gamma/Futures Double-Squeeze Tyler Durden Mon, 10/12/2020 – 12:44 Heading into the weekend, we observed that despite the recent drift higher in the Nasdaq last week after its September correction, institutional investors remained skeptical with a near-record number of non-commercial spec shorts in the Nasdaq 100 mini according to the latest CFTC Commitment of Traders report, and after spiking to a historic level just two weeks earlier, the negative bets on the Nasdaq stubbornly persisted… No change to Nasdaq short this week pic.twitter.com/9C1YNcs3Rn — zerohedge (@zerohedge) October 9, 2020 … perhaps in response to the recent[…]

Big Divide In The Restaurant Industry Tyler Durden Mon, 10/12/2020 – 12:32 Authored by Mike Shedlock via MishTalk, Independent restaurants skid towards bankruptcy as large chains recover. Who’s Booming, Who’s Not? Well-capitalized large chains like McDonald’s, Chipotle and Domino’s are booming  Your neighborhood independent restaurant isn’t The Covid crisis created a Big Divide in the Restaurant Industry The coronavirus pandemic is splitting the restaurant industry in two. Big, well capitalized chains like Chipotle Mexican Grill Inc. and Domino’s Pizza Inc. are gaining customers and adding stores while tens of thousands of local eateries go bust. Larger operators generally have the advantages of more capital, more[…]

KNKX, Cliff Mass, & The Undermining Of American Democracy Tyler Durden Fri, 10/02/2020 – 23:00 Authored by Cliff Mass, Our democracy is threatened. It is threatened by rioters using violence as a political tool, by individuals intimidating politicians through aggressive home visits, by Presidential debates where name calling and incivility rule, by the loss of a sense of physical safety that is a necessity for a civil society, by destructive hyper-partisanship, and by the suppression of freedom of speech and diversity of viewpoints. There are few better examples of the suppression of freedom of speech and viewpoint diversity than the recent[…]

Biden – A Catalyst To Accelerate US Decline? Tyler Durden Fri, 10/02/2020 – 22:20 Authored by Egon von Greyerz via GoldSwitzerland.com, The Chinese understand the long game and they have infinite patience. They have always known that they never needed to attack the US, financially or militarily. Because China has invariably understood that the US would self-destruct. POLITICS AND PRINCES DON’T MIX The Duchess of Sussex who has dragged her poor husband, Prince Harry, into the US election has declared that this will be the most important election in history. She will most probably be right but for the wrong[…]

GM Deliveries Plunge 10% Year Over Year In Q3 Tyler Durden Fri, 10/02/2020 – 22:00 In numbers that are massive for the auto industry, where comps are generally measured in basis points, General Motors saw a 10% plunge in deliveries for Q3 2020.  The company delivered 665,192 vehicles during the quarter, despite sales improving sequentially during each month within the quarter. September foreshadowed slightly less pain for Q4, with YOY sales increases toward the end of the month, the company said while doing damage control in its PR.   Kurt McNeil, GM vice president, U.S. Sales Operations said: “Our dealers are doing[…]

Kremlin Alleges Navalny Is “Working With CIA” After Bombshell Charge: ‘Putin Poisoned Me!’ Tyler Durden Thu, 10/01/2020 – 12:00 The controversy and mystery surrounding the alleged poisoning of Russian activist and opposition figure Alexey Navalny just escalated dramatically upon the first published full media interview with Navalny, who after recovering in a German hospital was recently released. The bombshell interview with German newsmagazine Der Spiegel hit the web Thursday. Navalny alleged directly that Putin was behind the poisoning, saying he had “no other explanation for what happened.”  “Putin is behind the crime,” Navalny said in the newly published interview. “I have no other versions of the[…]

NY Suffers Most New COVID-19 Cases Since May As Virus Spreading In 20 ‘Hot Spots’: Live Updates Tyler Durden Thu, 10/01/2020 – 11:50 Summary: NY sees most new cases since May UK official warns country at “tipping point” as cases, deaths slow DoD Maryland reports no deaths for first time since March 27 of 50 US states saw outbreak accelerate last month UK outbreak at “tipping point”, official warns More Titans players test positive CDC extends ‘no sail’ order until end of Oct. amid controversy WHO begs for more money for global vaccine effort New restrictions imposed in Spain, UK[…]