Johnstone: We Are Watching The Story Of America Crash Headlong Into The Reality Of America

Johnstone: We Are Watching The Story Of America Crash Headlong Into The Reality Of America Tyler Durden Wed, 06/03/2020 – 19:00 Authored by Caitlin Johnstone via Medium.com, I have a bedtime story for you. Once upon a time a brave nation liberated itself from the tyranny of the British empire and birthed freedom and democracy into the world. With the help of heroes like the abolitionists, Abraham Lincoln, Martin Luther King Jr and Malcolm X it overcame systemic racial inequality, and now it is a shining exemplar of human rights, the respected friend of free democracies around the world and[…]

Read more

Canadian Car Sales “Recover”, Only Crashing 44% In May, After April’s 75% Plunge

Canadian Car Sales “Recover”, Only Crashing 44% In May, After April’s 75% Plunge Tyler Durden Wed, 06/03/2020 – 18:40 The ripple effects of the worldwide economic shutdown due to the coronavirus continue to be felt in the global auto market, which was already a sad state of affairs prior to the pandemic.  New auto sales in Canada are the latest indicator of an industry that has been flipped on its head. Sales fell 44% in May, according to Automotive News Canada. DesRosiers Automotive Consultants estimates that 113,224 light vehicles were sold in the month after new vehicle sales in April fell[…]

Read more

Social Unrest Rises As Confidence Falls

Social Unrest Rises As Confidence Falls Tyler Durden Wed, 06/03/2020 – 18:20 Authored by Clint Siegner via Money Metals Exchange, Protests egged on by the legacy media quickly devolved into large-scale riots and looting over the weekend in more than a dozen U.S. cities. Some important institutions have betrayed the public trust, and Americans facing quarantine and staggering unemployment have arrived at the boiling point. Meanwhile, the ranks of people buying gold and silver as a hedge against economic chaos and financial malfeasance swelled again in recent months. A new wave of Americans is grappling with what it means for[…]

Read more

Daily Briefing – June 3, 2020

Daily Briefing – June 3, 2020 Tyler Durden Wed, 06/03/2020 – 18:10 Senior Editor Ash Bennington joins Managing Editor Roger Hirst to discuss the latest developments in macro, markets, and coronavirus. Bennington and Hirst discuss what “returning to normal” means for markets—whether it’s breaking into a new regime or a return to the status quo. They also dive into “the dollar smile,” where bond yields are headed, and commercial real estate in the UK. In the intro segment, Real Vision’s Nick Correa talks about the 1968 influenza pandemic and how the world’s response to pandemics in the past was vastly[…]

Read more

Millions Of Higher-Paying Jobs Targeted As Next Wave Of COVID Layoffs Begins

Millions Of Higher-Paying Jobs Targeted As Next Wave Of COVID Layoffs Begins Tyler Durden Wed, 06/03/2020 – 18:00 With over 40 million jobs lost in the past two months, a total that puts the Great Depression to shame, one argument tossed around by Wall Street to minimize the impact on lost US productivity is that for the most part, the job losses have been among low-skilled, low-wage, low productivity blue collar jobs, while most higher-paying, white collar jobs have been immune from mass layoffs. However, according to an analysis by Bloomberg economist Yelena Shulyatyeva, this is about to change because[…]

Read more

4 Factors Driving The Stock Market Higher

Analysts and investors are racking their brains, trying to figure out how the Nasdaq 100 (QQQ) is trading at all-time highs, and why the S&P 500 is only down a few percent for the year with unemployment figures reaching depression levels. There is no doubt that the unprecedented level of fiscal and monetary stimulus has backstopped the equity markets and began this extraordinary rally, but what continues to drive it? There are numerous reasons, all adding their part to the markets over 40% surge since March 23rd.  The most significant catalyst for the continued stock market rally is the reopening[…]

Read more

Dow Soars Over 1000 Points Since Riots Started; Bonds, Bullion, & Dollar Dumped

Dow Soars Over 1000 Points Since Riots Started; Bonds, Bullion, & Dollar Dumped Tyler Durden Wed, 06/03/2020 – 16:00 So there is this… Worst social unrest in 50 years (cops killed, cities burning, stores looted nationwide) Global Pandemic ongoing (some reopenings but 2nd wave cropping up) WHO sees no drug showing any efficacy in reducing mortality (but we rallied for weeks on vaccine hope) Economic collapse (no v-shaped recovery in any ‘hard’ or ‘soft’ data) Earnings plunge (recovery being pushed out) US-China tensions increasing And then there’s this – The Dow is up over 1000 points from Sunday night’s open…[…]

Read more

Pelosi Turns To Black Caucus For Bill On Policing

Pelosi Turns To Black Caucus For Bill On Policing Tyler Durden Wed, 06/03/2020 – 15:50 House Speaker Nancy Pelosi (D-CA) is turning to the Congressional Black Caucus for ideas on a legislative response to the death of George Floyd at the hands of a Minneapolis police officer last week. Pelosi, along with House Majority Leader Steny Hoyer (D-MD) and other lawmakers are also looking to pluck ideas from more than 40 existing bills on policing already introduced, according to Bloomberg “It would be irresponsible for us to wait,” said Rep. Karen Bass (D-CA), head of the Congressional Black Caucus during[…]

Read more

Consumer “Cash” Spending Is Much Worse Than The Reported Figures

Consumer “Cash” Spending Is Much Worse Than The Reported Figures Tyler Durden Wed, 06/03/2020 – 15:35 Submitted by Joe Carson, former chief economist of Alliance Bernstein Consumer spending fell a record 13.6% in April, according to the preliminary estimates by the Bureau of Economic Analysis (BEA). But the spending numbers based on “cash” outlays are much worse. The government’s monthly report on consumer spending (i.e. personal consumption expenditures) is a blend of actual cash outlays and estimated figures. Spending on durable and nondurable goods reflects “cash” outlays as reported by the monthly sales at retail establishments. But spending on some[…]

Read more

24-Year Old Dies While Rigging Explosives As Philly Terrorized In String Of ATM Blasts

24-Year Old Dies While Rigging Explosives As Philly Terrorized In String Of ATM Blasts Tyler Durden Wed, 06/03/2020 – 15:20 In among the clearest examples of an attempt at what could be considered domestic terrorism related to the ongoing riots so far, a 24-year-old man died Tuesday when he blew himself up while planting explosives on an ATM in Philadelphia.  Police and emergency medical personnel rushed the scene, where they found live explosives, according to Fox 29. While the safe was still intact, the machine’s electronic components were destroyed. Crucially the detonation occurred near an apartment complex and local businesses.  Though details remain[…]

Read more