Category: News Wire

Trump Fires Obama-Appointed State Department IG Tyler Durden Sat, 05/16/2020 – 15:00 President Trump fired State Department Inspector General Steve Linick. In a Friday night letter to House Speaker Nancy Pelosi required by law, Trump said that he “no longer” has the “fullest confidence” in Linick, whose termination will take effect in 30 days. Trump has fired the State Department inspector general in his latest effort targeting key watchdogs across the government. According to this letter he sent to Pelosi, Trump says he “no longer” has the “fullest confidence” in the State inspector general. Effective in 30 days. pic.twitter.com/9U4Q3HXd9W —[…]

WTF: What The Fed?!? Part 2 – “Trillions More Reasons To Be Concerned” Tyler Durden Sat, 05/16/2020 – 14:30 Via PeakProsperity.com, Back in mid-January, Grant Williams, Mike Maloney, Charles Hugh Smith, Chris Martenson and I sat down for an in-depth discussion on the dangerous distortions to financial markets and the global economy that central bank intervention is causing. That video, titled WTF: What The Fed?!? was released soon after the US Federal Reserve had added $200 billion dollars to its balance sheet in Q4 2019. At the time, we worried so much liquidity being added to the system so quickly could recklessly[…]

“We Need Help” – Cuomo Demands Federal ‘Assistance’, Claims Coronavirus Has Left New York State $61 Billion In Debt Tyler Durden Sat, 05/16/2020 – 14:00 As Democrats in Congress double-down on their demands for another $3 trillion in stimulus spending having passed their spending agenda in the Democrat-controlled House, Gov Andrew Cuomo warns that his state has accrued more than $61 billion in debt pertaining to its coronavirus response. Federal aid is the only feasible alternative for the state to manage such an incredible burden without essentially being forced in between a rock and a hard place, with the only[…]

Global COVID-19 Cases Top 4.5 Million As Italy Sees Deaths Fall To 10-Week Low: Virus Updates Tyler Durden Sat, 05/16/2020 – 13:00 Summary: Italy reports lowest death toll in 69 days Nepal reports first coronavirus death Germany’s Bundesliga re-starts play FinMin Scholz mulls rescue package for towns, cities Hungary ends Budapest lockdown Global case total passes 4.5M, deaths top 300k UK death toll nears 35k Trump says US will restore some WHO funding American soup kitchens see 70% spike in traffic Cambodia claims it’s officially “virus free” Mexico reports record jump in cases Wuhan tests 100k+ during first day of[…]

Here Is What Hedge Funds Bought And Sold In The Q1 Chaos: Full 13F Summary Tyler Durden Sat, 05/16/2020 – 13:00 Amid a selling panic that at times surpassed the liquidation observed during both the financial crisis and the great depression, hedge funds were either paralyzed watching their P&L collapse or were busy selling as sentiment vaporized, and has yet to come back as the near record-low hedge fund beta to the S&P indicates… … but a handful bucked the trend, and loaded up on what BofA has dubbed a “reopening portfolio” of so-called quaratine stocks. As a result stocks[…]

Why Jeremy Siegel Is Wrong About End Of Bond Bull Market Tyler Durden Sat, 05/16/2020 – 12:30 Authored by Lance Roberts via RealInvestmentAdvice.com, Wharton’s Jeremy Siegel recently declared the end to the 40-year bond bull market. “History has shown that somewhere this liquidity has to come out, and we’re not going to get a free lunch out of this. I think ultimately, it’s going to be the bond holder that’s going to suffer. That’s certainly not the popular notion right now.” – J. Siegel via CNBC Such has been the same message from bond bears since the “Financial Crisis.” Yet, during the entirety[…]

TSA To Check Passengers’ Temperature At Airports Tyler Durden Sat, 05/16/2020 – 12:00 The Transportation Security Administration (TSA) will be checking passengers’ temperatures at select airports next week.  People familiar with the matter told The Wall Street Journal that additional details would be unveiled in the near term. The program is expected to roll out at 12 airports next week and will cost $20 million to implement. Thermal check fees will be waived for travelers and likely expensed to the federal government.  TSA agents will use handheld thermal devices and thermal sensors mounted on tripods to flag travelers if they register over 100.4 degrees[…]

Government Could Enforce Who You’re Allowed To Socialize With Via Tracking App Tyler Durden Sat, 05/16/2020 – 11:30 Authored by Paul Joseph Watson via Summit News, In the “new normal” of social distancing, governments could dictate who you’re allowed to socialize with and punish wrongdoers via a smart phone tracking app. Governments are now considering a post-lockdown world of “social bubbles,” which in the UK translates into a proposal to allow people to visit “10 friends and family.” The Belgian government is also considering permitting people to have a designated list of people they can visit in order to keep[…]

Volkswagen’s $33,000 ID3 EV Arrives In The UK This Summer And Is A Major Threat To Tesla Tyler Durden Sat, 05/16/2020 – 09:55 One could argue there’s significant overlap to the types of car buyers that would consider both Tesla and Volkswagen brands. Both brands offer unique engineering and sleek designs. But up until now, only Tesla was offering an EV. Enter the Volkswagen ID3, which, with a price point of $33,000 possibly represents the biggest challenge to Tesla’s dominant EV status yet. The vehicle goes on sale in the UK this summer, despite the coronavirus and offers the same amount of[…]

Von Greyerz: “You Can’t Avoid The Final Collapse” Tyler Durden Sat, 05/16/2020 – 09:20 Authored by Egon von Greyerz via GoldSwitzerland.com, As the Nasdaq makes a new high for the year, the world outside the stock market timebomb is falling apart. For example the UN agency, The International Labour Organisation (ILO) reports that 1.6 billion jobs are at risk in the global economy. That is half of the global workforce of 3.3 billion. Particularly vulnerable are the 2 billion people in the informal economy. For most of these vulnerable people, this means no income, no food and no security reports[…]