Gold currently at $1,741.24, silver at $15.86
American Workers Get a 4-Month Safety Net: Wall Street Gets a 4 to 5-Year Bailout
US Deficit To Quadruple Yo $3.8 Trillion: Total Debt Will Surpass World War II Record
Wow! Who would have thought the market would surge higher on disappointing earnings from J.P. Morgan (JPM) and Wells Fargo (WFC)? I could understand it more if they moved higher themselves, but they didn’t. JPM was 2.74% lower on the session.
With the lack of real participation by the hanks in the policies being implemented by the Federal Government and the Federal Reserve, does this mean they are irrelevant and a kind of bank-ing utility? Time will tell, but it was interesting to see what unfolded on Tuesday.
The Wall Street Journey reported this week that bankruptcies are expected to soar in the coming months, because of the way our economy has been completely disrupted since late March. We believe this virus will eventually pass … and that there’s an even bigger long-term story that’s going to have a massive impact on you and your money over the next few years.
In short: It’s a terrifying new trend (for some) that is creating thousands of new millionaires (Barron’s estimates 20,000 to 200,000 so far) while at the same time destroying the financial future for many others.
April 15, 2019
1989 — Sadly, in Sheffield, England, 96 people were killed and hundreds were injured at a soccer game at Hillsborough Stadium when a crowd surged into an overcrowded standing area. Ninety-four died on the day of the incident and two more later died from their injuries.