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screwball last won the day on November 12 2019

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  1. The flight to safety. Should be expected. No yield there either. What will ZIRP do to pension/retirement funds? Not pretty. I got a kick out of this line in the article: Which bank? GS. Now we know if the ****house blows up GS will get bailed out. Saw that movie. This is all too predictable.
  2. Other than this week, it is the highest it's been since 2016/2017 For context - 20 year weekly chart. Up until the last few days, the dollar looked to be the flight to safety. When did the virus news go nuts? The reversal started March 9th.
  3. Full text of the $2 trillion coronavirus stimulus bill released The link is to a USA Today article that contains the link. The link goes to some sort of document cloud. There is a link there to a .pdf file. It is 880 pages long. You need about 20 people to read 44 pages which should take an hour, maybe. Then report back on who got the goldmine, and who got the shaft.
  4. Fed Trying To Inflate A 4th Bubble To Fix The Third
  5. I'm in Ohio. From what I can tell it won't be pretty. Then they must be processed. The current machine cannot process the amount of claims necessary to keep up. The machine is not geared up for that. And now, how many are working from home? Not the most efficient nor ideal situation at the moment. It will take weeks for some to get money. Giddy up!
  6. Retail Grinds to a Halt as 47,000 Stores Close - Mish Couple of angles in that article. Thursday's jobless claims should be interesting.
  7. Some may find this interesting. Via Bloomberg penned by Michael Lewis who even talks about Bill James. The Pandemic in My Neighborhood
  8. After Blowing $4.5 Trillion on Share Buybacks, Airlines, Boeing, Many Other Culprits Want Taxpayer & Fed Bailouts of their Shareholders - WolfStreet **** the airlines. I guess it's too late. The whores in CONgress care more about the CEO's stock options than Joe Sixpack, just like when they bailed out the criminal wankin' ****in' bankers. Long rope and pitchforks.
  9. Released yesterday: Output dropsat fastest rate for over a decade as coronavirus hits - Purchasing Managers’ Index™MARKET SENSITIVE INFORMATION EMBARGOED UNTIL: 0945(EST) /1345(UTC) 24th March 2020 Key findings: Flash U.S. Composite Output Index at 40.5(49.6in February). New series low. Flash U.S. Services Business Activity Index at 39.1(49.4inFebruary). New series low. Flash U.S. Manufacturing PMI at 49.2(50.7in February). 127-month low. Flash U.S. Manufacturing Output Index at47.6(50.7inFebruary). 127-month low. Data collected March 12-23 OUCH! *** This is only part of the problem. As this goes on, people are going to get more "testy" because they can't do anything, and they can see the future (for many) will not too pretty. The things so many took for granted are now going away, and/or, will be gone in the not too distant future. I ***** because our golf league is postponed. It was something I took for granted that would be spared by this crisis. I mean, what better place than a golf course to be un-close to someone else? If you have a membership, you don't need to go inside and pay, you just park your car and go play. You are in hundreds of acres of seclusion. Not anymore - because we are on lock down and if nobody can go out - you don't play. Why would a golf course spend all that money to keep the place in shape when nobody is playing? Their not. That's the good news, unfortunately. What's the owner going to do? This guy just bought the place a few years ago, and just last year spent hundreds of thousands more to buy an adjacent field to build a driving range and practice area. What now? He's fooked. This could be the end. What about all the other small businesses? The local mom and pop shops, small restaurants, gift shops, bars, whatever? They will be toast, as they can't absorb this, even with .gov help. Money not collected is money lost. Gone, poof. Not to mention all the lost jobs, many of which may never return. And if they do, when? Some are lucky (like myself) who are retired, getting SS, and have their household finances in order. But what about the younger people who are living paycheck to paycheck and don't have a nest egg to fall back on? Not good. We've all read the articles about the debt/savings (or lack of) of the average American. Not good. Once the reality of all this starts to sink in, and the livelihood people are used to are found to be going away (or already gone), what will they do. Or, maybe I should say, how will they react? What is the old saying? When desperate people are desperate...or something like that. The market is acting pretty good today, but why wouldn't it? Between the printing press at the Fed, and the gazillion dollar stimulus package just passed, it should be acting pretty good. The amount of money thrown around this last week is unprecedented in the history of the world. It won't friken matter. The worse is yet to come. I'm going to take up a new sport since golf is out the window for now - beer Olympics doing 12 oz curls - while watching the implosion of the American empire. We were never special - just over leveraged, over confident, over propagandized, and for the most part - overly stupid.
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