Obama Turns John Lewis Funeral Into Political Rally

Obama Turns John Lewis Funeral Into Political Rally Tyler Durden Thu, 07/30/2020 – 18:20 Former President Barack Obama turned a eulogy for the late Rep. John Lewis (D-GA) into a Democratic political rally – urging Congress to pass a series of measures he said would ‘continue Lewis’ life’s work.’ Of all the speakers at the memorial, the former President was the only one to leverage Lewis’ death for political purposes. Obama’s proposals included: – Automatic voter registration. – Congressional representation for Washington D.C. and Puerto Rico. – Making election day a federal holiday. – Ending gerrymandering. – Replacing the 1965[…]

Read more

Negative Side-Effects Of Protecting Renters From Eviction

Negative Side-Effects Of Protecting Renters From Eviction Tyler Durden Thu, 07/30/2020 – 18:00 Authored by Bruce Wilds via Advancing Time blog, The Federal CARES ACT passed in March protects renters living in properties with government-backed mortgages from eviction until July 25. While the intent of lawmakers might be to protect what they consider the most vulnerable in our society this sends a grave signal to landlords. Halting evictions cuts away at the very fabric of contracts to lease property and undermines the rights of owners. Ironically in the end this will most likely put more pressure on low-income tenants and result in[…]

Read more

USDollar, Bond Yields Tumble After Greatest Economic Collapse Ever

USDollar, Bond Yields Tumble After Greatest Economic Collapse Ever Tyler Durden Thu, 07/30/2020 – 16:00 A re-weakening in jobless claims data (confirming no v-shaped recovery), a record-breaking collapse in GDP and consumption (admittedly backward-looking) and Trump tweet hinting at election delays all spoiled the party early on in US equity land but around 1030ET ‘someone’ decided this mini-dip was for buying and everything surged ahead of tonight’s mega earnings data. Only Nasdaq managed gains on the day, however with The Dow the biggest laggard… Look at The Nasdaq… isn’t it pretty!!! The bounce appeared to be triggered by a technical[…]

Read more

Israel Moves Advanced Missile Systems To Lebanese Border On Fears Of Hezbollah Attack

Israel Moves Advanced Missile Systems To Lebanese Border On Fears Of Hezbollah Attack Tyler Durden Thu, 07/30/2020 – 15:50 Via AlMasdarNews.com, A Hebrew-language channel stated on Wednesday night that the Israeli army expects an attack by Hezbollah during the Islamic Eid Al-Adha holiday. The Israeli Broadcasting Corporation, Kann, reported that Israel fears a “second attack” by Hezbollah in the next 48 hours, that is, during the celebration of Eid al-Adha. The news channel reported that, based on this expectation, the Israeli army has strengthened its forces in the north near the Lebanese and Syrian borders, deploying advanced missile systems, special rockets[…]

Read more

2 Phillies Staff Test Positive For COVID-19, Forcing More MLB Game Cancellations

2 Phillies Staff Test Positive For COVID-19, Forcing More MLB Game Cancellations Tyler Durden Thu, 07/30/2020 – 15:35 MLB’s hopes to press ahead with its season following the Marlins outbreak may have just been dashed. As it turns out, the Marlins apparently spread the virus to at least two Phillies personnel, the team admitted Thursday. The infections were detected during Thursday’s round of tests, but both a coach and a staff member who were found to be infected had been tested Wednesday, and passed. Neither were experiencing symptoms as of Thursday. The two cases forced the team to cancel all[…]

Read more

California Pizza Kitchen Declares Bankruptcy

California Pizza Kitchen Declares Bankruptcy Tyler Durden Thu, 07/30/2020 – 15:20 By Jonathan Maze of Restaurant Business, California Pizza Kitchen (CPK), facing months of unpaid leases and with a dwindling amount of cash, declared bankruptcy on Thursday, seeking to cut back on its debt load and close unprofitable locations. The Playa Vista, Calif.-based chain, which operates about 200 locations, has more than $400 million in debt and is mostly owned by the private equity firm Golden Gate Capital along with members of the company’s management team. The company had been seeking a possible sale since last year before the coronavirus[…]

Read more

Seth Klarman Slams “Enabling” Fed For “Infantilizing Investors” In “Surreal” Market

Seth Klarman Slams “Enabling” Fed For “Infantilizing Investors” In “Surreal” Market Tyler Durden Thu, 07/30/2020 – 15:05 “Surreal doesn’t even begin to describe this moment,” exclaims a frustrated-sounding Seth Klarman in his hedge fund, Baupost’s latest investor letter. While the highly-paid, experienced, and process-oriented hedge fund managers are just “getting back to even” in 2020 (unable to beat the index), retail investors are crushing everyone in sight with gains above 25% as record economic contraction and unemployment did nothing to dent their demand to BTFD in any and everything from bankrupt HTZ to TSLA… Source: Bloomberg This should come as[…]

Read more

Shelton Derangement Syndrome: Which Republicans Will Side With Fed Groupthink?

Shelton Derangement Syndrome: Which Republicans Will Side With Fed Groupthink? Tyler Durden Thu, 07/30/2020 – 12:46 Authored by Tho Bishop via The Mises Institute, Judy Shelton’s long and bumpy Federal Reserve nomination cleared an important hurdle last week when the Senate Banking Committee voted on party lines to send her for final consideration before the full Senate. Right away, Shelton’s nomination received pushback from the resistance wing of the Republican Party, with Mitt Romney and Lisa Murkowski going on the record as opposing her nomination. With unanimous Democratic objection to Shelton, it would take just two more Republican dissenters to[…]

Read more

Fauci Accused Of ‘Misinformation Campaign’ Against Hydroxychloroquine; Ohio Gov Wants State Officials To Reverse Prohibition

Fauci Accused Of ‘Misinformation Campaign’ Against Hydroxychloroquine; Ohio Gov Wants State Officials To Reverse Prohibition Tyler Durden Thu, 07/30/2020 – 12:39 Update (1240ET): Ohio Governor Mike DeWine (R) says he agrees with FDA Commissioner Steven Hahn (see below), and has asked the state medical board to “halt their new rule prohibiting the selling or dispensing of hydroxychloroquine or chloroquine for the treatment or prevention of COVID-19.” Therefore, I am asking the @OhioRxBoard to halt their new rule prohibiting the selling or dispensing of hydroxychloroquine or chloroquine for the treatment or prevention of COVID-19. — Governor Mike DeWine (@GovMikeDeWine) July 30,[…]

Read more

Almost 30 Million Americans Went Hungry Last Week As Recovery Stalls 

Almost 30 Million Americans Went Hungry Last Week As Recovery Stalls  Tyler Durden Thu, 07/30/2020 – 12:25 A depressionary perfect storm continues to crush households as tens of millions of Americans are reporting they didn’t have enough to eat last week (the seven days through July 21).  Bloomberg cites the Census Bureau’s latest weekly Household Pulse Survey, revealing almost 30 million Americans went hungry last week. About 23.9 million of 249 million respondents said they had “sometimes not enough to eat.” Around 5.42 million indicated they had “often not enough to eat.” This is the highest total of hungry Americans in the survey since early May,[…]

Read more