Democratic Socialists Of America Teams Up With Teachers Unions To Reform Schools

Democratic Socialists Of America Teams Up With Teachers Unions To Reform Schools Tyler Durden Mon, 08/03/2020 – 18:05 Submitted by Sovereign Man, What happened: The Democratic Socialists of America has endorsed the demands of some of the largest teachers’ unions in the US. These are conditions that the unions say must be met before teachers are willing to return to teach public school during a pandemic. For example, the unions say school should be cancelled this fall to allow more time for the pandemic to die down. They could also use that time to retrofit schools with safety measures, using[…]

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Daily Briefing – August 3, 2020

Daily Briefing – August 3, 2020 Tyler Durden Mon, 08/03/2020 – 17:55 Senior editor, Ash Bennington, joins managing editor, Ed Harrison, to reckon with the idea of whether a COVID-19 vaccine will be the “medical bailout” everyone is staking their hopes on. Ash and Ed give an overview of where many major nations are currently in their battle against the pandemic and consider if this new normal is truly sustainable in the long-term. They also discuss the continued move toward a virtual world, how this is an omen of absolute collapse in certain industries, and how the pandemic has become[…]

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Nasdaq Surges To Another Record High Despite Dollar Surge

Nasdaq Surges To Another Record High Despite Dollar Surge Tyler Durden Mon, 08/03/2020 – 16:01 Another day, another nicely engineered short squeeze… Source: Bloomberg Oh and a panic bid into the world’s biggest market cap company (after it already rose over 10% on Friday), but a lot of that faded as the day went on… And a better than expected ISM print (ignoring the decline in the Markit PMI) sparked a bid in value/cyclical stocks… Source: Bloomberg All helped lift the broad markets today (despite a late-day drop on McConnell comments about the Democrats “not budging” on negotiations… (Small Caps[…]

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The Rock Just Bought The XFL

The Rock Just Bought The XFL Tyler Durden Mon, 08/03/2020 – 15:50 The XFL is back – again. Reports on Monday mid-day have confirmed that the embattled league has been bought by a group that includes actor and former WWE star Dwayne “The Rock” Johnson. The purchased occurred “just hours” before the league was set to go to auction, Yahoo Sports reported. The league was sold for $15 million, which was split between Johnson and his investment partner RedBird Capital. Dany Garcia, Johnson’s ex-wife and business partner, is also a stakeholder, Yahoo reports.  RedBird Capital is a PE firm that’s owned by Gerry[…]

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“August Snoozer” On Deck With Dealers Back In “Long Gamma” But Everything Changes In September

“August Snoozer” On Deck With Dealers Back In “Long Gamma” But Everything Changes In September Tyler Durden Mon, 08/03/2020 – 15:37 Charlie McElligott’s prediction from last week that the Nasdaq could suffer from a nasty spill as dealer gamma had turned increasingly negative… … was foiled by the blockbuster earnings from the mega tech companies which sent the Nasdaq to new all time highs, forcing dealers – and frankly everybody else – to chase the year’s best performing sector into the stratosphere. And indeed, in his latest note from this morning, the Nomura strategist concedes that despite the overnight bear-steepening[…]

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NJ Tightens Restrictions On Crowd Sizes, Outbreak Worries Mount As First US Schools Reopen: Live Updates

NJ Tightens Restrictions On Crowd Sizes, Outbreak Worries Mount As First US Schools Reopen: Live Updates Tyler Durden Mon, 08/03/2020 – 15:27 Summary: Newsom says all major COVID-19 benchmarks in the state are trending down CDC releases back-to-school decision-making tool for parents California cases slow to 5,739 new cases, hospitalizations climb by 132 NJ lowers limit on number of people allowed at indoor, outdoor gatheirngs NJ rate of transmission hits 1.48 UK gov’t games out plan to close London should ‘second wave’ intensify Arizona reports just 1,030 new cases as hospitalizations fall for 12th day Iran’s death toll is 3x[…]

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This Time Is Different: The Death of Valuation – The Intellectual Calamity Of “Big Data”

This Time Is Different: The Death of Valuation – The Intellectual Calamity Of “Big Data” Tyler Durden Mon, 08/03/2020 – 15:20 Submitted by Kailash Concepts Introduction: An Old Story A recent article from Bloomberg counted a leading quant from one of the world’s largest asset managers as a believer that there is “no way to tell if betting on ostensibly cheap companies will work again.” Noting that Tesla’s valuation, at 10,392x trailing earnings, 33x book value, and 11x sales made no sense on those metrics, the article suggests the secret to pricing Tesla, ostensibly, lies in using big data to[…]

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Gun Stocks Bang Higher As July Background Checks Jump 79%

Gun Stocks Bang Higher As July Background Checks Jump 79% Tyler Durden Mon, 08/03/2020 – 12:51 Firearms stocks moved higher on Monday after gun background checks rose 79% in July year-over-year amid violent protests which have gripped major cities across the United States. That said, the number of checks was lower than all-time records set in March and June. Shares in Ruger and Smith and Wesson enjoyed gains of more than 5% and 9% respectively on Monday, while taser manufacturer Axon Enterprise were up more than 5%. The FBI ran over 3.6 million background checks through the National Instant Criminal[…]

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Roubino: Why So Many Cities Are Paralyzed

Roubino: Why So Many Cities Are Paralyzed Tyler Durden Mon, 08/03/2020 – 12:30 Authored by John Rubino via DollarCollapse.com, Sympathy for America’s big-city mayors and their allies is evaporating – generally for good reason. Portland and Seattle, for instance, seemed willing to give rioters a free hand before belatedly stepping in. And of course there’s the amazing quote from Chris Cuomo, the brother of New York’s Governor :  “Please, show me where it says protesters are supposed to be polite and peaceful.” The worst-run cities will pay a huge price for this indecision when rioters finally leave but shoppers and merchants[…]

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Men’s Wearhouse Files For Bankruptcy

Men’s Wearhouse Files For Bankruptcy Tyler Durden Mon, 08/03/2020 – 12:15 As we previewed on month ago in ‘Work-From-Home’-Epidemic Set To Bankrupt Suit-Sellers, “I Guarantee It“, on Monday the retail wreck continued on Sunday when Tailored Brands, the owner of Men’s Wearhouse filed for bankruptcy, adding to a list of brick-and-mortar retailers that have succumbed to the economic fallout from the COVID-19 crisis. The retailer filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Southern District of Texas. Tailored Brands said in a statement that it has entered into a restructuring agreement with more than 75% of[…]

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