Thursday, April 9, 2020

Free Markets Are Dead: Fed To Start Buying Junk Bonds, ETFs

from ZeroHedge:

Back on March 23, when the Fed unveiled it would start buying investment grade corporate bonds, we said “now that the Fed is effectively all in, it will buy stocks and junk bonds next.”

Two weeks later, we were right and this morning the Fed announced it would, as expected, start buying junk bonds (we have to wait for the next “market” – we use the term loosely because it is no longer a market which is terminally disconnected from fundamentals but a giant, Fed-fueled Ponzi scheme – crash before the Fed goes literally all in and starts buying stocks and pretty much anything else).

How Lockdowns Hit U.S. New & Used Vehicle Sales: Beyond Ugly

by Wolf Richter, Wolf Street:

When the unemployment crisis exploded onto the scene three weeks ago, sales totally collapsed. What’s in store for the industry?

The lockdowns were gradually rolled out state by state, starting in mid-March, and this was when the historic unemployment crisis exploded onto the scene. So it’s the events from mid-March forward that show the new trend. For the whole month of March, total new vehicle sales plunged 37.9% year-over-year, with fleet sales (rental, commercial, and government) down 27.6% and retail sales down 40.5%. In terms of daily retail sales volume, according to estimates by Cox Automotive, early March sales had been well above the sales on the same day of the week, same week last year.

The Government Wants to Decide What Items Are Essential Purchases and What Things You’re Not Allowed to Buy

by Daisy Luther, The Organic Prepper:

Living under lockdown restrictions, prevalent in nearly every state, is about to get a whole lot worse. The government in the United States and Canada has decided to take away the guesswork in the stores that are still open and decide for you what’s “essential” and what’s not.

When I have gone to the store to pick up groceries (I’m still getting fresh produce while I can), I also like to pick up a couple of things that are pleasant diversions: magazines, a crossword puzzle book, coloring pencils, some craft supplies. It’s nice to have some things that are enjoyable on hand to keep lockdown from feeling so grim and torturous. If the store is already open, getting a sunny yellow pillow for the living room is a pick-me-up, not a frivolous jaunt to a place I wasn’t already going. When we had a birthday in the family, we even picked up a few small gifts on our regular trip to the grocery store to provide a sense of normalcy.

“They Missed The Call” – Trump Plans To Withhold Money From WHO Over ‘Botched’ Crisis Response

from ZeroHedge:

Update (1810ET): After tweeting his criticism of the WHO earlier, President Trump brought up the NGO giant again during Tuesday night’s briefing, reiterating that there is a plan in place to withhold some American financing for the organization.

The US is one of the WHO’s biggest backers, along with China.

President Trump said Tuesday night that “we’re going to put a hold on money spent on the WHO.”

He added that “they missed the call” on the coronavirus pandemic.

Wall Street’s Banks Could Profit by Millions on Coronavirus Deaths of Employees

by Pam Martens and Russ Martens, Wall St On Parade:

If it sounds ghoulish, it’s because it is ghoulish.

Some of the biggest banks on Wall Street have been intimidating their traders to come back to work despite an executive order from the Governor of New York State, Andrew Cuomo, ordering people to remain at home during the coronavirus outbreak unless they work for essential businesses like grocery stores, pharmacies and hospitals.

These Very Alarming Numbers Show How People Are “Coping” With The Coronavirus Pandemic

by Michael Snyder, The Economic Collapse Blog:

It is during times of great crisis that we find out who we really are.  Now that strict “shelter-in-place” orders have been instituted all over the world, most people have a lot more free time than usual.  Of course some are using all of this extra free time for constructive purposes, but many others have decided that “self-medicating” is the best way to “cope” with this coronavirus pandemic.  When under great pressure, people tend to gravitate to whatever is most important to them, and that is why what we are witnessing during this pandemic is so alarming.  Just check out these new numbers

George Soros-Funded Group Pushes Nationwide Drop Boxes for Voting

by Aaron Klein, Breitbart:

The Brennan Center for Justice, which is heavily financed by George Soros, is advocating the use of drop boxes to deposit ballots on voting day this November as part of a suggested overhaul of the U.S. voting system due to the Chinese coronavirus pandemic.

With other Soros-financed groups, the Brennan Center has been leading a campaign advocating a “vote by mail” system in the upcoming presidential election, citing fears that coronavirus makes it too dangerous to vote in person.  Some of the groups are using the coronavirus crisis to push permanent changes to the way Americans vote.

Tucker: How Will Americans Respond if Health Authorities Remove Family Members From Their Homes?

by Paul Joseph Watson, Summit News:

“Might trigger violence.”

Tucker Carlson wonders how Americans will react if health authorities forcibly remove family members from their homes following a World Health Organization official’s suggestion that this scenario could happen.

During his monologue last night, the Fox News hosted drew attention to a statement made by Dr. Michael Ryan, executive director of the World Health Organization’s Health Emergencies Program, back on March 30 which was not reported by the mainstream media.

Michael J. Burry (The Weird Genius in the Movie “The Big Short”): “End the Lockdown”

from Vigilant Citizen:

Michael J. Burry is mostly known for predicting the 2007 mortgage crisis months in advance and for inspiring the movie “The Big Short”. In the midst of COVID-19 panic, this financial genius (who usually values his privacy) created a Twitter account to communicate one single message: End the lockdown