Wednesday , April 1 2020
Home / Zerohedge
The author Zero Hedge
Zero Hedge
our mission: to widen the scope of financial, economic and political information available to the professional investing public. to skeptically examine and, where necessary, attack the flaccid institution that financial journalism has become. to liberate oppressed knowledge. to provide analysis uninhibited by political constraint. to facilitate information's unending quest for freedom.

Zerohedge

China’s Fake Number Parade Continues: Caixin PMI Soars, Prints Just Barely In “Expansion”

One day after China's official National Bureau of Statistics decided to have some fun at the expense of the sinking US economy, and despite suffering an unprecedented economic crash itself, reported laughably high March PMI numbers, with both the manufacturing and non-manufacturing PMIs surging from their record February lows, smashing expectations by the most on record and in the case of manufacturing's 52.0 print, rising to the highest level since September 2017 in an apparent confirmation...

Read More »

Is The Pandemic Killing Biden’s Bid?

Authored by Patrick Buchanan via Buchanan.org, “This is the question that is going to dominate the election: How did you perform in the great crisis?” So says GOP Congressman Tom Cole of Oklahoma in today’s New York Times. GOP National Committeeman Henry Barbour of Mississippi calls the crisis “a defining moment… The more (Trump) reassures Americans, gives them the facts and delivers results, the harder it will be for Joe Biden.” Indeed, it is not a stretch to say Trump’s presidency...

Read More »

‘Texas Miracle’ “On Ice For Time Being” As Crude-Carnage & COVID-Chaos Double-Whammy Strikes Lone-Star State

West Texas Intermediate (WTI) spot prices plunged 7.5% to the 19-handle on Sunday evening, hitting lows not seen since 2002.  WTI has crashed 70% in the last 56 trading sessions amid the COVID-19 crisis triggering a demand bust across the world. As a result, an economic storm risks triggering a shale debt bomb in Texas, jeopardizing the state's $1.8 trillion economy and may damage crude output from the Permian basin that has more than quadrupled in a decade. In three weeks’ time, Saudi...

Read More »

How The Fed Sows Social Division And Mistrust

Authored by Nick Hankoff via The Mises Institute, The Federal Reserve’s zero interest rate policy and industry bailouts threaten more than just the fragile economy. The very foundation of the social order risks permanent fracturing under this system of moral hazard. In Human Action, Ludwig von Mises defined society as “joint action and cooperation in which each participant sees the other partner's success as a means for the attainment of his own.” Without social trust, there is no...

Read More »

Money Market Fund No Longer Accepting New Cash Amid Historic Scramble Into Treasury Bills

Even before the March market meltdown, the T-Bill market was starting to exhibit symptoms of shortage which was hardly a surprise: after all, as part of its "not-QE" farce where Powell desperately tried to fool the market that he wasn't engaging in outright QE so as not to spook investors that things are just as bad as they turned out to be (we all know how that worked out for him now that the Fed is monetizing over $100BN per day) the Federal Reserve was buying $60BN in Bills each month to...

Read More »

“Stop Buying Masks”..? Oh Wait! CDC Considers Asking Public To Wear Face Masks

Authored by Mac Slavo via SHTFplan.com, This is irony at its finest. The United States Surgeon General used twitter to tell the public to NOT use face masks to protect against the coronavirus because they don’t work, they only work for health care workers. Now, the Centers for Disease Control and Prevention is considering a recommendation that people wear masks when in public. We all remember this - when Surgeon General Jerome Adams tweet said it all "Stop Buying Masks!": Seriously...

Read More »

Airbnb Bails Out Highly Leveraged Superhosts As Travel Industry Crashes 

Airbnb CEO Brian Chesky wrote a letter to all hosts informing them that the company is committed to a $250 million bailout to cover some of the cost of COVID-19 cancellations. The canceled check-ins are for March 14 through May 31, Airbnb will pay hosts 25% of what they would've received via their cancellation policies, and the "payments will begin to be issued in April." Chesky said a separate $10 million Superhost Relief Fund would be designed for "Superhosts who rent out their own home...

Read More »

The World Is Running Out Of Condoms As Factories Face COVID-19 Lockdown

Authored by Elias Marat via TheMindUnleashed.com, We’ve all seen the jokes on social media about how nine months from now a new generation will be born that will eventually be dubbed “Coronials” - and once they come of age, “quaranteens.” After all, if we’re stuck working from home or self-isolating along with our partner or significant other, it’s only natural and healthy for us to seek solace through sexual activity - and the increase in baby-making activities can naturally result in a...

Read More »

“Sailors Don’t Need To Die”: Captain Of Nuclear Carrier With Over 100 COVID-19 Cases Pleads For Help

In an astounding plea for help, the captain of the nuclear aircraft carrier USS Theodore Roosevelt has urged top command of the US Navy to take drastic action after more than 100 sailors aboard the ship have been infected with the coronavirus. More than a week ago it started with a handful of COVID-19 cases, which by the end of the week spiked to 36, causing the West Pacific-deployed carrier to dock at a naval station at Guam, ordering infected crew members out of the some 5,000 total into...

Read More »

As The Crisis Deepens, Keep An Eye On Illinois’ Unpaid Bills

Authored by Ted Dabrowski and John Klingner via Wirepoints.org, The depth of the financial and economic impact of the Coronavirus is impossible to predict since we don’t know how far the virus will spread or how long the economic shutdown will last. But we do know that pension shortfalls will jump, borrowing will increase and the state budget hole will widen dramatically. Unfortunately, it will take months before all those numbers are reported and summed up. In the meantime, one number...

Read More »