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Lebanon Announces Default On $1.2BN Debt Payment In Historical First

Lebanon Announces Default On $1.2BN Debt Payment In Historical First Lebanon announced Saturday it will default on its Eurobond debt for the first time in its history. The protest-racked country has seen a recent change in government, banks opened for merely about half of the past few months, strict controls on hard currency withdrawals and transfers abroad amid a liquidity […]

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All Hospital Beds In The US Will Be Filled With Patients ‘By About May 8th’ Due To Coronavirus: Analysis

All Hospital Beds In The US Will Be Filled With Patients ‘By About May 8th’ Due To Coronavirus: Analysis A sobering analysis of how coronavirus is likely to impact the US healthcare system suggests that hospitals will be quickly overwhelmed with patients, and that all available beds will be filled by around May 8th if the virus […]

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Saudi Arabia Starts All-Out Oil War: MbS Destroys OPEC By Flooding Market, Slashing Oil Prices

Saudi Arabia Starts All-Out Oil War: MbS Destroys OPEC By Flooding Market, Slashing Oil Prices With the commodity world still smarting from the Nov 2014 Saudi decision to (temporarily) break apart OPEC, and flood the market with oil in (failed) hopes of crushing US shale producers (who survived thanks to generous banks extending loan terms […]

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Expect Up To 40% Of Tehran’s Population To Be Infected In 2 Weeks: Iranian Health Official

Expect Up To 40% Of Tehran’s Population To Be Infected In 2 Weeks: Iranian Health Official With the daily soaring infection rate and death toll inside Iran officially at 124 deaths amid 4747 confirmed cases as of early Friday — though true numbers are believed much higher — all eyes are on the largely unprepared country given it’s the biggest outbreak epicenter outside […]

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Surprise! China Is Using Covid-19 To Strengthen Its Mass Surveillance Of Citizens

Surprise! China Is Using Covid-19 To Strengthen Its Mass Surveillance Of Citizens As a result of monitoring for coronavirus, the Chinese government is now requiring Chinese citizens to provide personal data, including travel and health conditions, via apps on their smartphone to the government.  Based on the answers that citizens give to the apps, provided […]

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Oil Crashes After Reports OPEC+ Talsk End Without A Deal

Oil Crashes After Reports OPEC+ Talsk End Without A Deal Update (1015ET): Reports, citing a delegate, for the first time in six years, OPEC ends talks in Vienna without a deal. being agreed. Oil prices are extending their collapse… *  *  * Update (0950ET): Bloomberg reports that OPEC+ talks “are on the verge of collapse” as it becomes clear […]

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“No Deal In Sight” – Oil Plunges After Russia Rejects Additional OPEC+ Cut

“No Deal In Sight” – Oil Plunges After Russia Rejects Additional OPEC+ Cut Brent crude futures tumbled by more than 4% on Friday after Reuters reported that Russia had rejected steep production cuts by OPEC to prop up oil prices amid the Covid-19 outbreak triggering demand shocks in China and across the world.  A high-level Russian source told Reuters […]

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“We Have Never Seen This Before”: The Last Time The Market Did This, FDR Confiscated All The Gold

“We Have Never Seen This Before”: The Last Time The Market Did This, FDR Confiscated All The Gold To say that moves in the US stock market have been erratic in the past two weeks would be a prodigious understatement: with the Dow Jones swinging by over 1,000 points on nearly 5 occasions in the […]

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MSCI Warns US Stocks Could Fall Another 11% As Coronavirus Outbreak Worsens

MSCI Warns US Stocks Could Fall Another 11% As Coronavirus Outbreak Worsens Shortly before US stocks suffered another triple-digit point drop at the open – dampening the cheers of traders and pundits who gleefully celebrated stocks going positive for the week on Wednesday – MSCI warned on Thursday that another double-digit drop could be in store […]

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Indian Government Nationalizes 4th Largest Bank As Shadow Banking Crisis Looms

Indian Government Nationalizes 4th Largest Bank As Shadow Banking Crisis Looms Two years ago we first noted the building crisis in the Indian banking system, and now, as Bloomberg reports, the Indian government has stepped in to organize a rescue plan for the nation’s fourth largest private bank as a long-running crisis among shadow lenders threatened to spill over […]

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WHO Claims Coronavirus Is In Some Ways Worse Than Spanish Flu … Which Killed Tens of Millions

WHO Claims Coronavirus Is In Some Ways Worse Than Spanish Flu … Which Killed Tens of Millions Many experts claim that the fear of Coronavirus is overblown.  And that morality might actually be decreasing.  On the other hand, the World Health Organization (WHO) announced yesterday that the mortality rate from the Wuhan Coronavirus (formally known as 2019 nCoV) is 3.4% globally. […]

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The Fed “Is Complicit In Creating Fragilities In The System”

The Fed “Is Complicit In Creating Fragilities In The System” When the Fed cut interest rates this week, everyone had an opinion about it. The economy needs it to fend off recession. The economy has been hanging in well and they shouldn’t have rushed to spend dwindling monetary policy resources. They were responding to the […]

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How To Keep Your Personal And Financial Data Safe From The Government

How To Keep Your Personal And Financial Data Safe From The Government Psst! Eyes peeled because you’re in for a reality check. Your personal data is helping corporations make billions, keeping hackers in business, and giving your government all the tools it needs to better control you. Sounds harsh, we know it does. But it’s the […]

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This Wasn’t Supposed To Happen: One Day After Fed Rate Cut, Repos Signal Record Liquidity Shortage

This Wasn’t Supposed To Happen: One Day After Fed Rate Cut, Repos Signal Record Liquidity Shortage Yesterday morning, when we discussed the sudden spike in liquidity shortage that resulted in both a (record) oversubscribed term repo and the first oversubscribed overnight repo since the start of the repo crisis, we said that “if going solely by the […]

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German Minister Declares Outbreak “A Global Pandemic”; Israel Quarantines Soccer Fans: Virus Updates

German Minister Declares Outbreak “A Global Pandemic”; Israel Quarantines Soccer Fans: Virus Updates Summary: Italian gov’t denies ANSA report about closing schools & universities German finance minister declares outbreak “a global pandemic” EU reports first coronavirus case at its headquarters in Brussels China reported 119 additional coronavirus cases and 38 additional deaths South Korea reported […]

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Olduvai IV: Courage
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Olduvai II: Exodus
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