DHS Ditches Additional Guestworker Visas After Spike In Unemployment

The Department of Homeland Security has put “on hold” a plan to authorize an additional 35,000 H-2B guestworker visas, meaning businesses can no longer bring on new migrant workers under the program. The move comes after the initial unemployment claims spiked by 10 million in two weeks due to the coronavirus pandemic – with 6.6 […]

Major Technical Failures Confirm Bear Market Risk

Authored by Lance Roberts via RealInvestmentAdvice.com, Major Technical Failures Confirm Bear Market Risk In last week’s discussion, we stated the “bear market” was not yet complete. This was despite the “market rally,” which convinced the media the “bull market was back.” While it was indeed a sharp “reflex rally,” and expected, “bear markets” are not resolved in a single month. Most importantly, as we discussed in our […]

Photos: In Rural Towns and on Remote Farms, the Virus Creeps In

John Maley’s 28,000-acre ranch sits on the eastern edge of Steens Mountain Wilderness, a sprawling high desert in a remote corner of southeastern Oregon that’s thick in season with sagebrush, juniper and mountain mahogany. Here, “social distancing” isn’t lifesaving advice during a pandemic. It’s a way of life. “You don’t drive to town to get […]

Sudanese Migrant Kills 2 During Knife Attack In Southeastern France

As if a national lockdown to prevent a deadly pandemic from killing hundreds of thousands of people wasn’t terrifying enough, there are now armed asylum seekers marauding around southeastern France, murdering shoppers as they venture out to buy groceries. To wit, a man killed two people and wounded several others, one critically, during a knife […]

Kobe Bryant Inducted Into Basketball Hall Of Fame

Just over two months after dying along with his 13-year-old daughter Gianna in a tragic helicopter crash, Lakers legend Kobe Bryant has been inducted into the Basketball Hall of Fame in Springfield, Mass. Bryant has been inducted alongside Tim Duncan and Kevin Garnett in what the Washington Post described as a long-anticipated move. In a […]

The watchdogs overseeing the $2.3 trillion U.S. bailout

WASHINGTON (Reuters) – Who’s watching over the U.S. government’s largest bailout in history – the $2.3 trillion in fiscal stimulus to fight the economic impact of the coronavirus? FILE PHOTO: An empty street is seen during the outbreak of the coronavirus disease (COVID-19) in Brooklyn, New York City, U.S., March 27, 2020. Picture taken March […]

Mexican president calls on Russia, Saudi Arabia to end oil price war

Mexico’s President Andres Manuel Lopez Obrador speaks during a news conference at National Palace in Mexico City, Mexico April 1, 2020. Mexico’s Presidency/Handout via REUTERS ATTENTION EDITORS – THIS IMAGE HAS BEEN SUPPLIED BY A THIRD PARTY. NO RESALES. NO ARCHIVES MEXICO CITY (Reuters) – Mexican President Andres Manuel Lopez Obrador on Saturday called on […]

Trump says will ask Congress for more small business funds if money runs out

U.S. President Donald Trump addresses the daily coronavirus task force briefing at the White House in Washington, U.S., April 3, 2020. REUTERS/Tom Brenner WASHINGTON (Reuters) – U.S. President Donald Trump said on Saturday he would ask Congress for more money to make loans to small businesses struggling with the economic fallout from the coronavirus outbreak […]

The Fed Is Running Out Of Bubbles To Create

Authored by Kladji Bregu via The Mises Institute, The Fed came out with a series of unprecedented measures on March 22, 2020. They announced the Fed will buy an unlimited amount of Treasurys and mortgage-backed securities (MBS), or as Peter Schiff refers to it, “QE infinity.” This has been very positively welcomed by many in the mainstream […]

Developer Tools for Business: 5 Tips to Guide Your Choices

Photo by Tudor Baciu on Unsplash There is no one developer tool that will make magic for your DevOps team. However, those tools that bridge the development and operations gap are the ones that are most useful in the DevOps environment. RELATED ARTICLE: LAUNCHING A BUSINESS? TIPS TO BOOST PRODUCTIVITY This is because these types of development tools […]

My 9th Special Update on the Coronavirus, the Economy, and the Capital Markets

Scholar Financial’s 9th Special Update on the Coronavirus, the Economy, and the Capital Markets April 3, 2020 The Good (Health and Other) News Before exploring the impact of the Coronavirus (COVID-19) on the economy, and the capital markets, please permit me to share some “potential good news”: Scores of currently available drugs are being tested to […]

OPEC Meeting Is Delayed as Saudi and Russian Tensions Flare

A meeting planned for Monday between officials of the Organization of the Petroleum Exporting Countries, Russia and other oil producers, which had buoyed hopes for a deal to end the turmoil in energy markets, has been put off, according to two OPEC delegates. The news comes as lingering tensions have surfaced once again between Saudi […]

MiB: Jonathan Miller of Miller Samuel Real Estate Appraisers & Consultants

In the latest “Masters in Business” podcast, I speak with Jonathan Miller, co-founder of Miller Samuel. He blogs at the Matrix Blog. Miller is an expert on real-estate appraisals and transactions, and runs one of the larger appraisal firms. He has created a variety of real-estate data analytics for various regions as well as nationally. He is also sought […]

A Quarantined Uber Driver’s Quest for Paid Sick Leave

Zachary Frenette likes working as an Uber driver in Phoenix. He is a top-rated driver who often chats with his customers on their trips. During the outbreak of the coronavirus last month, business began to slow. Then, a possible exposure to the virus prompted Mr. Frenette, 29, to quarantine himself. Off the roads and worried […]

In The New Dystopia

Authored by Sill Solomon via Counterpunch.org, It is difficult to neatly encapsulate the shift that has occurred in our collective perception and experience over the last several weeks. That all semblance of ‘certainty’ and ‘normalcy’ has disappeared seems no longer the main feature—what stands out is the psychological shift underway, proceeding on the collective and […]

Saturday links: fixed pies

Saturdays are the day we catch up with all the non-finance related stuff we didn’t get to during the week. You can check out last week’s edition here. Quote of the Day “Believing in a fixed pie is a self-fulfilling prophecy.” (Adam Grant) Chart of the Day Hotel activity is at an all-time low. (calculatedriskblog.com) […]

U.S. dairy farmers dump milk as pandemic upends food markets

CHICAGO (Reuters) – Dairy farmer Jason Leedle felt his stomach churn when he got the call on Tuesday evening. FILE PHOTO: The milking parlor at the Eble family’s Golden E Dairy farm near West Bend, Wisconsin, U.S., April 1, 2020. Mark Hoffman/Milwaukee Journal Sentinel/USA TODAY via REUTERS “We need you to start dumping your milk,” […]

Longform links: working on yourself

Saturdays are all about longform links on Abnormal Returns. You can check out last week’s linkfest including a look at some scenarios on how the coronavirus pandemic will play out over time. Covid-19 Books History Longreads

Trump Stops Masks from Going to Canada

In The Defense Production Act I argued that the DPA was neither especially useful or necessary and would probably be misused. In Sicken Thy Neighbor Trade Policy I argued that exports bans were a bad idea. So, of course, Donald Trump has used the DPA to ban 3M from exporting masks to Canada. “We hit […]

How the coronavirus job cuts played out by sector and demographics

(Reuters) – The job losses suffered in March as the U.S. economy shut down in the face of the novel coronavirus pandemic were widespread but still were disproportionately felt in a handful of employment sectors and by women, the young and the less educated. Colorized scanning electron micrograph of an apoptotic cell (red) infected with […]

Links 4/4/2020

Mice have a range of facial expressions, researchers find Guardian (Dr. Kevin) Physical Force Alone Spurs Gene Expressions, Study Reveals PhysOrg #COVID-19 I made a Jockstrap Mask Tutorial, because I’m ridiculous. pic.twitter.com/JiYhV3K8uh — Emerson Collins (@ActuallyEmerson) April 3, 2020 Threat of catastrophe stalks developing world Financial Times Health/Medical (see overlap with Big Brother is Watching […]

What Wall Street Doesn’t Want You to Know About Hospital Emergency Rooms

Yves here. We’ve written regularly on Eileen Appelbaum and Rosemary Batt’s important investigations into how private equity has taken over more and more of hospital staffing, including of emergency rooms. This in turn has allowed them to override patient efforts to have only in-network doctors assigned to their case, as well as to engage in […]

‘Dear Customers’: These Are the Emotional Store Signs of a Closed New York

Surfacing ‘Dear Customers’: These Are the Emotional Store Signs of a Closed New York From newly darkened storefronts, businesses offered a few last words of empathy, resolve and humor. By April 4, 2020 Image All along the empty streets of Manhattan, the messages reach out from the newly darkened storefronts. The notes express empathy, resolve, […]

Comparing GDP, Employment to 2007

For my macro lectures next week: Figure 1: Nonfarm payroll employment, in logs, normalized 2020M02=0 (blue), lagged and normalized 2007M12=0 (red). Source: BLS. Figure 2: Real GDP, in logs, normalized to 2019Q4=0 (blue), Goldman Sachs 3/31 forecast (teal triangles), lagged and normalized to 2007Q4=0 (red). Source: BEA and Goldman Sachs.

Thank You Bill Gates

Bill Gates, who warned us–The Next Outbreak, We’re not ready–is getting ready for a vaccine, in fact for seven of them. Business Insider: Gates said he was picking the top seven vaccine candidates and building manufacturing capacity for them. “Even though we’ll end up picking at most two of them, we’re going to fund factories […]

Tethered pairs and locational extremes

Let us assume that you, for reasons of choice or necessity, are spending time in close quarters with another person.  You are then less inclined to visit corona-dangerous locations.  In part you are altruistic toward the other person, and in part for selfish reasons you do not wish to lower the common standard of care.  […]

Trump Fires Ukrainegate Inspector General Who Helped Initiate Impeachment

President Trump on Friday fired the intelligence community inspector general, Michael Atkinson, who brought a hearsay whistleblower complaint to Congressional Democrats, kicking off President Trump’s impeachment.  Atkinson’s closed-door testimony was so troubling to House Republicans that they launched an investigation into his role into what President Trump and his allies coined the ‘impeachment hoax.’ Ranking […]

The Shadow War Playing Out Behind The COVID-19 Crisis

Authored by Gregory Copley via OilPrice.com, The rush to what is essentially a new wartime footing began consciously and urgently in the first quarter of 2020 between some of the most powerful geopolitical players of the modern era: the United States of America, the People’s Republic of China (PRC), and the United Kingdom. It was […]

Tesla cuts contractors from California, Nevada factories: CNBC

FILE PHOTO: The view of Tesla Inc’s U.S. vehicle factory which was open for business on March 18, despite an order by the Alameda county’s sheriff’s office to comply with a three-week lockdown in the San Francisco Bay Area, in order to rein in the spread of coronavirus disease (COVID), in Fremont, California, U.S., March […]

San Francisco Bans Reusable Bags To Counter Virus-Contagion Threat

The San Francisco Bay Area is usually ahead of the curve when it comes to implementing environmentally-friendly policies to save the planet. However, city officials banned reusable shopping bags Wednesday as a way to enforce social distancing protocols imposed by the state government to limit the spread of COVID-19.  The reusable bag ban was enforced by the San […]

FEMA, Racing to Provide Virus Relief, Is Running Short on Front-Line Staff

WASHINGTON — The Federal Emergency Management Agency, the office leading the federal government’s coronavirus response nationwide, is running short of employees who are trained in some of its most important front-line jobs, according to interviews with current and former officials. At the same time, the agency has been forced to halt a major hiring initiative, […]

Waves Of Mutilation: Medical Tyranny And The Cashless Society

Authored by Brandon Smith via Alt-Market.com, Back in 2014 during the Ebola scare in the US I published an article warning about how a global pandemic could be used by the elites as cover for the implementation of an economic collapse as well as martial law measures in western nations. My immediate concern was the way in […]

#988: The Economics Of Hospital Beds

Enlarge this image Amanda Aronczyk/NPR New York City Health + Hospitals/Bellevue is the oldest public hospital in the country. It’s seen everything, survived everything, and been there for every outbreak from yellow fever to Ebola. If you’re in New York City and catch something weird, new, and scary — you go to Bellevue. Yet, even […]

Here's Every Vaccine And Treatment In Development For COVID-19, So Far

As the number of confirmed COVID-19 cases continues to skyrocket, healthcare researchers around the world are working tirelessly to discover new life-saving medical innovations. As Visual Capitalist’s Nick Routley notes, the projects these companies are working on can be organized into three distinct groups: Diagnostics: Quickly and effectively detecting the disease in the first place Treatments: Alleviating […]

America, We Have To End The Wars Now

Authored by Scott Horton via The Libertarian Institute, Can anyone think what our society might have spent six and a half trillion dollars on instead of 20 years of war in the Middle East for nothing? How about the trillion dollars per year we keep spending on the military on top of that? Invading, dominating and remaking the Arab […]

Delaware State Police Authorized To Pull Over Out-Of-State Drivers During Pandemic

Delaware police have been granted the authority to pull over drivers displaying out-of-state tags to ask questions about why they’re on the road, before telling them that “they are required by law to self-quarantine for 14 days while in Delaware, or immediately return to their state,” according to Gov. John Carney’s state of emergency declaration. […]

Administration Turns to Private Firms to Help Process Small Business Aid

WASHINGTON — The Small Business Administration doled out tens of millions of dollars in contracts in recent days — including $50 million for a contract linked to the firm of a friend and donor to President Trump — to help it deal with the deluge of loan applications from businesses ravaged by the coronavirus-triggered economic […]

In The New Age Of Deception, COVID-19 Has Hastened The Old Collectivism

Authored by Doug “Uncola” Lynn via TheBurningPlatform.com, “…..but the plan insidiously advances.” – ordo ab chao “They are banned from churches and public spaces. They can’t hold hands to pray. LOL!” – The Devil At the very end of last year, I wrote a New Year’s piece entitled “America is Over But You Knew That Already”, whereby various “cracks and water […]

OPEC+ debates biggest-ever oil cut, awaits U.S. efforts

DUBAI/LONDON/MOSCOW (Reuters) – OPEC and its allies are working on a deal for an unprecedented oil production cut equivalent to around 10% of global supply, an OPEC source said, while also waiting to see what action the United States would take as President Donald Trump met with oil companies on Friday. FILE PHOTO: An oil […]