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05/26/20 – Bill Blain: Deckchairs on the Titanic

“Until then men felt they had found the answer to a steady, orderly, civilized life. For 100 years the Western world had been at peace. For 100 years technology had steadily improved. For 100 years the benefits of peace and industry seemed to be filtering satisfactorily through society. Life was all right. The Titanic woke them up.” Read More.

05/25/20 – Tyler Durden: World’s Most Bearish Hedge Fund Manager: “If It’s In Zerohedge, Then Central Banks Have Already Devised A Plan To Stop If From Happening”

There are two notable highlights in the latest note from the CIO of Horseman Global, Russell Clark, the man we dubbed years ago as the “world’s most bearish hedge fund manager” (a name that appears to have stuck) due to his penchant to run a net short book for the past 8 years (see chart below). Read More.

Market Update Friday 05/15/20

It was a relatively quiet day on Wall Street, as the SkyNet StockBots mostly stayed on the sidelines. Stocks zigged and zagged their way to a modestly higher close. The DJIA ended higher by 60 points (0.2%) and the NASDAQ gained 71 points (0.8%).

Stay tuned as the battle 0of the SkyNet StockBots continues.

05/22/20 – Jim Rickards: Don’t Believe the Happy Talk

Nothing like what we’re witnessing has ever happened before. Even the savviest analysts cannot yet internalize what happened. As I explained earlier, comparisons to the 2008 crisis or even the 1929 stock market crash that started the Great Depression fail to capture the magnitude of the economic damage of the virus. You may have to go back to the Black Plague of the mid-14th century for the right comparison. Read More.

05/21/20 – Rob Price: How Government Intervention Triggers Depressions

Although painful, the solution to the 2020 economic recession is simple—uncover our problems, let prices adjust, and reallocate capital toward productive usages. The quicker we adjust, the shorter the recession and the sooner we create a sustainable economic foundation for future prosperity. This approach is the polar opposite to the current interventionist and inflationist orthodoxy. Read More.

05/17/20 – Michael Snyder: 10 Numbers That Show The U.S. Has Fallen Into A Horrifying Economic Depression

The last recession was really, really bad, but it was never like this. It is time for us to face reality, and that means admitting that the U.S. economy has plunged into a depression. This is already the worst economic downturn that America has experienced since the Great Depression of the 1930s, and we are right in the middle of the largest spike in unemployment in all of U.S. history by a very wide margin. Read More.

05/15/20 – Tyler Durden: Job Openings Plunge Most On Record Amid Mass Layoffs, Plunge In Hiring

With the BLS’s JOLTs, or job openings and labor turnover, survey coming in with an extra month delay, we already knew that the March data would be dismal (especially considering the total implosion in April when over 20 million people lost their jobs), and sure enough that’s what happened when the BLS reported that in March the number of job openings plunged from an upward revised 7.004 million to just 6.191 million, the 813K monthly drop the largest on record going back to 2000. Read More.