Stocks closed lower on Tuesday, giving up a massive rally from earlier in the day, as Wall Street assessed the latest news on the coronavirus outbreak. The Dow Jones Industrial Average closed 26.13 points lower, or 0.1%, at 22,653.86. The 30-stock average rose as much as 937.25 points, or 4.1%, at its session high. The […]
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Treasury Secretary Steven Mnuchin Discusses Payroll Protection Program (VIDEO)…
Treasury Secretary Steven Mnuchin appears via phone on Fox Business News to discuss the small business payroll/paychecks program. Ms. Bartiromo claims her network of friends in the business community want to use the free government money for themselves; but the Treasury is forcing small businesses to use the money to retain payroll. Obviously Ms. Bartiromo […]
Mnuchin Asking for $250B to Replenish Small Business Loan Program…
Treasury Secretary Steven Mnuchin on Tuesday asked Congress to approve an additional $250 billion to replenish the fund for small business loans as thousands vie for the government-backed aid. Mnuchin said he spoke with Senate Majority Leader Mitch McConnell, Senate Minority Leader Chuck Schumer, House Speaker Nancy Pelosi and House Minority Leader Kevin McCarthy about […]
The Fed Apparently Thinks It’s Going to Lose $454 Billion on Its Wall Street Bailout…
On Thursday, March 26, in the midst of a growing panic on Wall Street over a lack of liquidity for toxic debt, the Federal Reserve Chairman Jerome Powell did something unprecedented. He appeared live on the Today show. His interviewer, Savannah Guthrie, opened the interview by noting that one writer had said that the Fed […]
Michael ‘Big Short’ Burry Blasts “Unjustifiable” Lockdowns as “Most Devastating Economic Force in History”…
Infamous for his painful but ultimately profitable “big short” bet against mortgage-backed securities during the 2008 financial crisis, Michael Burry, the doctor-turned-hedge-fund-manager has been on a multi-day Twitter rant claiming that the lockdowns intended to contain the COVID-19 pandemic are worse than the disease itself. Echoing the thoughts of many, Burry opined in a series […]
Peak Week – DPA Policy Coordinator Peter Navarro Discusses Status of Supplies for Combatting COVID-19…
National Defense Production Act policy coordinator Peter Navarro appeared on ‘Fox & Friends’ this morning to discuss various issues of supply chain needs for the U.S. to combat coronavirus. Mr. Navarro touches on how the DPA is being used to secure medical supplies and equipment including hydroxychloroquine as a treatment…
“US Labor Market Is in Free-Fall” – 10 Million Americans Have Filed for Unemployment in Past 2 Weeks…
After last week’s unprecedented 3.3 million surge in initial jobless claims, this week’s is even more unprecedented-er, adding a stunning 6.648 million (just 100k away from our estimate of 6.5million) for a two-week sum of 10 million new Americans claiming unemployment benefits. As @GreekFire noted, “We’ve lost 46 jobs for every confirmed case of COVID-19 […]
Trump Administration Lowers Fuel Efficiency Standards…
The Trump administration on Tuesday announced new vehicle fuel efficiency and CO2 emissions standards that lower the bar set by 2012 Obama-era regulations. The Environmental Protection Agency and the Department of Transportation’s National Highway Traffic Safety Administration’s new regulation calls for automakers to deliver a 1.5 percent improvement per year in corporate average fuel economy […]
Wall Street Had Cut 68,000 Jobs and Received Trillions in Emergency Loans Prior to COVID-19 Anywhere in the World…
On March 26 Federal Reserve Chairman Jerome Powell went on the Today show to deliver one message: “There is nothing fundamentally wrong with our economy.” Recently U.S. Treasury Secretary Steve Mnuchin has appeared on the White House lawn to tell reporters that this is nothing like the last financial crisis. Fed regional bank presidents have […]
Secretary Mnuchin Explains the Details for Small Business Financial Relief…
Treasury Secretary Steven Mnuchin appears on Fox News to discuss the latest developments in the battle against COVID-19 and how the coronavirus economic relief package will roll out. Unfortunately the always insufferable Wallace wants to waste time discussing the politics of the administration effort and not communicate important details to American businesses/individuals about what finhttps://theconservativetreehouse.com/2020/03/30/secretary-mnuchin-explains-the-details-for-small-business-financial-relief/ancial […]
Mnuchin Lays Out When Americans Can Expect Their Coronavirus Rescue Package Checks…
Treasury Secretary Steven Mnuchin said in a Sunday morning interview that qualifying Americans can expect to see their $1,200 checks deposited into their accounts “within three weeks.” Mnuchin, who played a lead role in the $2 trillion bill’s passage, told CBS’ “Face the Nation,” that there will be an online system created so Americans who […]
Restaurants Flip Supply Chain Business Model, Selling Retail…
A month ago CTH pointed out the short-sighted approach when federal, state and local government dictates began enforcing restaurant closings. By shutting down 50% of the total food supply output, the retail food supply chain was simply overwhelmed. Since then some state governors recognized the issue their decisions made within the total U.S. food supply […]
Goldman, Morgan Stanley Receive Approvals for Majority Stakes in China Ventures…
Goldman Sachs and Morgan Stanley said on March 27 they had received the final regulatory approvals to take majority stakes in their China securities joint ventures. The approvals come as policymakers and authorities step up efforts to shield the world’s second-largest economy, battered by the CCP virus pandemic. The Epoch Times refers to the novel […]
Coronavirus Job Losses Could Reach 47 Million As Macy’s Furloughs Most of Its 130k Employees Without Pay…
Coronavirus job losses in the United States could hit 47 million, with unemployment at more than 30 per cent, according to stark new estimates by a Federal Reserve. The shocking prediction by the Fed’s St. Louis district project came as Macy’s announced it will furlough a majority of its 130,000 workers. The retail giant on […]
Here Is a Breakdown of the $12 Trillion in Global Stimulus Passed This Month…
A favorite phrase of Bank of America’s chief investment strategist, and certainly an accurate one, is that “Markets stop panicking when policy makers start panicking.” Seen in this light, the only question is whether policymakers have panicked enough in response to the current coronavirus crisis which has ground the global $86 billion economy to a […]
The Oil Glut Is About to Get Even Worse…
With only a week to go before OPEC+ countries start flooding the world’s total oil production with an estimated extra 2.5 million barrels per day (bpd) amid the Covid-19 crisis, building one of the biggest oil supply gluts the world has ever seen, UK operator INEOS has decided to postpone its scheduled maintenance for the […]
Stimulus Bill Allows Federal Reserve to Conduct Meetings in Secret; Gives Fed $454 Billion Slush Fund for Wall Street Bailouts…
The U.S. Senate voted 96-0 late yesterday on a massive bailout of Wall Street banks versus a short-term survival plan for American workers thrown out of their jobs – and potentially their homes. The text of the final bill was breathtaking in the breadth of new powers it bestowed on the Federal Reserve, including the […]
List of Companies Hiring Right Now…
As the novel coronavirus continues to spread, major companies are looking to ramp up their workforces to meet the demand for critical products such as food, household essentials and medical supplies. Some of the nation’s largest retailers are even scrapping traditional hiring methods in order to fill open positions as the virus takes a foothold […]
Tom Donohue and U.S. CoC Beg White House: Please Don’t Stop Buying From China, We’ll Lose Our Manufacturing Investments…
You knew it was going to happen… The U.S. Chamber of Commerce (President Tom Donohue) begins having apoplectic fits at the thought of even stronger Trump administration policies that might undercut their Chinese manufacturing investments. The U.S. CoC is the biggest stakeholder of U.S. multinational companies doing business in China. The Trump administration has been […]
Senate Passes $2 Trillion Coronavirus Stimulus Bill…
The Senate passed the largest rescue package in modern history on Wednesday to alleviate economic pressure caused by the novel coronavirus, which has killed more than 1,000 people in the U.S. and over 21,000 people globally. Why it matters: The roughly $2 trillion COVID-19 relief package includes thousands of dollars in direct payments to most […]