Author: BlackMask Financial

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Producer Price Index up in March

NEW YORK, April 9 (Reuters) – The S&P 500 and the Dow posted modest gains on Friday, but the Nasdaq was lower, with interest-rate sensitive stocks losing ground as Treasury yields edged higher. But all three major U.S. stock indexes were on track to post weekly gains as upbeat economic data boosted investor risk appetite ahead of the first-quarter earnings season. “The reopening trade is still very much alive,” said Oliver Pursche, senior vice president at Wealthspire Advisors in New York. “And you’re seeing that in the relative underperformance of the high-flying tech that did so well throughout the shutdowns.”

A Labor Department report showed producer prices rose last month at twice the speed of February’s growth, reviving some inflation worries.

This, despite U.S. Federal Reserve Chairman Jerome Powell’s assurances on Thursday that the central bank is far more concerned about the recent uptick in COVID-19 infections than inflationary pressures.”Things are now getting back to normal from a period of suppressed pricing,” Pursche added. “Prices are getting back to their equilibrium. One month of price spikes does not make a trend.”U.S. Treasury yields rose, hitting session highs in the wake of the PPI report, which provided further evidence that the world’s largest economy was on a stable road to recovery from the pandemic. Benchmark 10-year notes last fell 7/32 in price to yield 1.655%, from 1.632% late on Thursday. The 30-year bond last fell 3/32 in price to yield 2.327%, from 2.322% late on Thursday. With supply chain bottlenecks and the economy’s broad re-opening fueling gains, the Fed is likely to continue to sit on its hands with policy as it awaits to see whether the recent pickup will have staying power beyond this year.” “The strongest year-over-year increase in producer prices in nearly 10 years reflects more than just easy base comparisons from last spring, however.” “We expect to see the year-over-year rates of inflation rise further over the course of this year, not just due to the easy base effects of last spring, but also due to the recent strengthening in demand at a time businesses are having difficulty getting their hands on materials and labor. However, we expect this too will have a transitory element to it. As bottlenecks ease and the initial flurry of services activity ebbs later this year, we expect to see a moderation in the monthly pace of price increases, which will generate a slowdown in the year-ago rate of inflation by mid-2022.” Nick Note: this is not inflation but reflation. they got to fill up the supply pipeline…. Nothing more!

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GM cutting US production amid chip shortage

General Motors Co and Ford Motor Co both said on Thursday they will cut more vehicle production due to a semiconductor chip shortage that has roiled the global automotive industry. The White House plans a summit on the chip shortage issue next Monday that is expected to include GM Chief Executive Mary Barra and Ford Chief Executive Jim Farley and top technology firm executives. A US auto industry group this week urged the government to help and warned that a global semiconductor shortage could result in 1.28 million fewer vehicles built this year and disrupt production for another six months. President Joe Biden wants at least $50 billion to help boost US semiconductor production, but that will not address short-term needs. “This is something that there is a great deal of focus at the highest level across government,” White House spokeswoman Jen Psaki said. The largest US automaker said it will cut production for two weeks at its Spring Hill assembly plant that makes popular SUVs starting on Monday, and cut a week of Chevrolet Blazer production at its Ramos plant in Mexico and its Lansing Delta Township factory in Michigan. GM’s Lansing Grand River Assembly will extend its downtime through the week of April 26, while its CAMI Assembly (Canada) and Fairfax Assembly plants will extend production shutdowns through the week of May 10. Ford, the second-largest US automaker, said it will cancel production next week at its Chicago Assembly Plant, its Flat Rock Assembly Plant and part of its Kansas City Assembly Plant. It will also operate its Ohio Assembly Plant on a reduced schedule. Ford said it will operate more plants this summer during traditional shutdown weeks to make up for lost production. GM said the latest cuts have been factored into its forecast that the shortage could reduce this year’s profit by up to $2 billion. GM said it has not taken downtime or reduced shifts at any of its more profitable full-size truck or full-size SUV plants due to the shortage. Nick Note: We are not talking state of the art 7 nano chips. We are talking workhorse processors that cost literally pennies. Now i am sorry if those Worthington Business School Snobs have not figure it our yet. But this is war. For years we warned about just in time supply. Where instead of you paying for warehouses full of parts you pay shipping companies. Its an accounting trick. Rather then investing in inventory a capitalization effort. You pay shipping which is a line item expense. The Chinese have a great advantage.. Their leaders are not as stupid as yours. I warned about the fact that critical chips were no longer made in the USA… But in China. One of the secrets is a F35 Fighter in the future will be grounded because of a $25 processor chip only made in China. As a foot note Chinese companies for domestic consumption have all the chips they need……..See your idiot leadership is computing the percentages of HE/Shes/Its in the work force and their comparative pay. And do not forget the national efforts to be sure corporate leadership represents the proper ethnic ratios. No matter the skill level.  I say  fuck that hire the best and smartest no matter what sex they think they are and no matter their color. Because China funds the best (from kindergarten to graduate school to  corporate leadership) and America funds the worst. From Sports programs that give you maybe 20 athletes to play pro  watermelon and beeee bop ball a year, to handicapped programs where you spend a million dollars a year per on Autistic children to say ma ma. And every day the great empire crumbles. I  really really do not give a shit. The greatest transfer of  wealth occurres when empires tumble. And i am in the transfer of wealth business. So all this is good for our business!!

Published on Apri
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Powell: Upward pressure on prices likely only temporary

(Reuters) -The U.S. Federal Reserve plans to keep its super-easy policy in place even as data shows the economy kicking into higher gear, with policymakers predicting on Thursday that an expected increase in prices this year will fade on its own, and warning about the recent uptick in COVID-19 infections. “Cases are moving back up here, so I would just urge that people do get vaccinated and continue socially distancing,” Fed Chair Jerome Powell, who has had his shots, said at an economic forum during virtual International Monetary Fund and World Bank meetings. “We don’t want to get another outbreak; even if it might have less economic damage and kill fewer people, it’ll slow down the recovery.”

Speaking at a separate event, St. Louis Federal Reserve Bank President James Bullard said the Fed should not even discuss changes in monetary policy until it is clear the pandemic is over, tying future Fed discussions tightly to the success of the vaccination effort.

The Fed has said it will keep buying $120 billion in bonds a month until it sees “substantial further progress” toward meeting the central bank’s employment and inflation goals. Bullard said he regards that as contingent on beating the coronavirus. “We have to get the pandemic behind us first,” he said. “There are still risks, and things could go in a different direction.” The Fed has long said the virus, which touched off the sharpest downturn in decades just over a year ago, will determine the course of the recovery. Some 3 million Americans are getting vaccinated every day, and a majority of older Americans at highest risk of dying from COVID-10 have been fully vaccinated. That, along with last month’s $1.9 trillion pandemic relief package and the Fed’s near-zero interest rates, sets the economy up for what Fed officials expect to be the fastest growth in 40 years this year. But new variants of the virus are driving surges in caseloads in swaths of the Midwest and Northeast particularly. Minneapolis Fed President Neel Kashkari told the Economic Club of New York in yet another virtual event on Thursday that those variants, and the school and daycare center closures they could force, are the “biggest risks” to the U.S. recovery. Meanwhile, much of the world has barely begun mass vaccinations, posing what policymakers said was another risk. Fed policymakers do expect a surge in spending in coming months, along with bottlenecks in supply, to push prices higher this year. They say that’s unlikely to turn into the kind of upward spiral in prices that would constitute worrisome inflation and require the Fed to respond with rate hikes. “We think there will be upward pressure on prices which may be passed along to consumers in the form of price increases – we think that that will be temporary,” Powell said, noting that inflation has been low for 25 years, feeding into a psychology of low inflation expectations. And despite a government report last week showing U.S. employers added nearly a million jobs last month, there are still nearly 9 million fewer employed people in the American economy than there were before the pandemic. Powell said he would want to see “a string of months like that so we can really begin to show progress toward our goals.” The unevenness of the recovery, too, is a serious issue, Powell said, with minorities, women and workers in sectors like leisure and hospitality faring worse than others. Fed policymakers boosted their forecasts for growth, inflation and employment this year, but Powell noted that would not necessarily feed into any policy change. To judge whether it was time to reduce asset purchases, Powell said, “we are not really looking at forecasts for this purpose, we are looking at actual progress” on inflation and employment. Nick Note: hank GOD our leaders and trillion dollar traders are to put it kindly notorious for being slow at the switch. For me its been a life long frustration and a source of persecution how stupid my fellow man really is. Especially when you look at leadership. But When I put the rats back in the box… Well i am grateful for stupidity because this is what gives us our edge. Three principals are at work here. 1. THE VACCINE WORKS AND IT REALLY WORKS. THE VACCINE IS A GREAT DIVIDE… THE UNTOLD TRUTH IS THE MORE PROSPEROUS, SMARTER AND WEALTHIER PEOPLE WILL BE VACCINATED AND THE BARBARIC HORDES WILL BE LEFT BEHIND. Weather they are in the jungles of 3rd world countries or the jungles the ghettos of the worlds trailer parks, tent cities,  inner cities have become. 2. their is NO inflation and their will be NO inflation. As bushiness compete to restart their will be TEMPORARY price increases that once demand is satiated will fall right back down again. 3. We are in a global boom time economy led by China and America. The stock market will ZOOM from here with the pundits screaming inflation and the coronavirus reemergence all the way. Climbing the inflation and plague wall of worry. . Stock prices STILL have not priced in the coming boom. When they do and we get the velocity break up to the upside we will then short the stampede into stocks. Our ETF risk adverse traders will be happy only then playing a long game, those who have should we say  a better risk profile and tolerance will join me in shorting the shit out of the market….. For now we play the zooom zooom zooom for all she is worth. Thanking GOD for the stupid money. To quote MRSSSSS Minoweaver… I do not see why people call you a genus…. Answer because you are to stupid to see. And its better for me if you do not see the great danger i am to the stupid money. Because i play a zero sum game. I make my money by taking yours. I do not create wealth. I am a transfer agent. Taking money  from the trillion dollar stupid money ( manged by incredible egos) to my clients……..

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Ketchup shortage in restaurants across United States

Nick Bit: When ever i see or hear about ketchup i always remember the “The Ketchup Song” filmed and  recorded by the Spanish pop group Las Ketchup. The music video was shot at Palm Beach, Estepona in Spain, at Chiringuito bar. The song and the video were a joke. Everyone was amazed when it went viral. At the time i was using the same studio to put up videos for our financial news broadcasts. At that time we were travailing on the south coast of Spain and i had to use outside studios. THe Yacht was on dry dock so i needed a studio for about a week. I had finished making a weekend video and as we were leaving the broadcast center we got invited for a seafood brunch and to be extras for the shoot. If you look carefully you can see a glimpse of me for a few frames (I have on a yellow Hawaii style shirt)  And several shots of the kids in the video. It was released in July 2002 (remember we were making a stock market killing back then) as the  ketchup song became a lead single from the bands debut album, Hijas del Tomate. The song was a joke. They were going to have a studio session and decided to have a party at the Palm Beach bar and shoot a practice session.  No one ever dreamed the video would became  a major flamenco Europop fusion hit with “Aserejé” (released as The Ketchup Song” in the UK and other countries) In the summer of 2001.

And now i must report to you the present Ketchup stock market indicator. Heinz confirmed to USA TODAY on Tuesday that the company will expand its efforts to address an unlikely byproduct of the COVID-19 pandemic that has impacted restaurants and fast food chains across the United States: a ketchup packet shortage. Manufacturing lines will be increased by about 25 percent to produce more than 12 billion packets a year. In wake of the pandemic, the CDC issued guidelines urging Americans to “avoid using or sharing items that are reusable, such as menus, condiments, and any other food containers,” and instead, use “single serving condiments,” such as ketchup packets. The Wall Street Journal reports the price of packets have risen 13 percent since January 2020. Even though Heinz “made strategic manufacturing investments at the start of the pandemic to keep up with the surge in demand for ketchup packets driven by the accelerated delivery and take-out trends,” the company still wasn’t able to meet the country’s overwhelmingly high demands, as tabletop bottles were no longer being used. In November, Heinz attempted to “further meet changing restaurant needs” with the creation of the no-touch dispenser. Ketchup is only the beginning. Bloomberg reports the price of pepperoni has nearly doubled in some cases due to an increased demand for pizza and fewer workers at pork processing plants since they must abide by social distancing requirements. The widely-covered, and often joked about blockage of the Suez Canal could also lead to a number of shortages since about 10 percent of global trade passes through the canal. The most notable items that could soon begin to feel the crunch are toilet paper, and coffee. Nick Note: Their you have it anther stock market indicator we use that  is indicating a boom. See Wall Street has those MSSSS/MR/IT algorithm risk managers and Doctoral mathematicians high frequency trading tools. And i Have my ketchup indicator and toilet paper trading tools which are both flashing BUY BUY BUY….

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Jamie Dimon says economic boom fueled by deficit spending, vaccines could ‘easily run into 2023’

Jamie Dimon is bullish on the U.S. economy – at least for the next few years. Dimon, the long-serving JPMorgan Chase CEO and chairman, sees strong growth ahead for the world’s biggest economy, thanks to the U.S. government’s response to the coronavirus pandemic that has left many consumers flush with savings, according to his annual shareholder letter. “I have little doubt that with excess savings, new stimulus savings, huge deficit spending, more QE, a new potential infrastructure bill, a successful vaccine and euphoria around the end of the pandemic, the U.S. economy will likely boom,” Dimon said in the letter. “This boom could easily run into 2023 because all the spending could extend well into 2023.” Dimon, who managed JPMorgan through the 2008 financial crisis, helping create the biggest U.S. bank by assets, pointed out that the magnitude of government spending during the pandemic far exceeds the response to that previous crisis. The longer-term impact of the reopening boom won’t be known until years into the future, he said, because it will take time to ascertain the quality of government spending, including President Joe Biden’s proposed $2 trillion infrastructure bill. “Spent wisely, it will create more economic opportunity for everyone,” he said. Dimon, 65, weighed in on a range of topics familiar to watchers of the country’s most prominent banker: He promoted JPMorgan’s efforts to create economic opportunities for Americans who have been left behind, highlighted threats to U.S. banks’ dominance from fintech and Big Tech players, and opined on public policy and the role of corporations to help bring about change. While Dimon called stock market valuations “quite high,” he said that a multi-year boom may justify current levels, because markets are pricing in economic growth and excess savings that make their way into equities. He said there was “some froth and speculation” in parts of the market, but didn’t say where exactly. “Conversely, in this boom scenario it’s hard to justify the price of U.S. debt (most people consider the 10-year bond as the key reference point for U.S. debt),” Dimon said. “This is because of two factors: first, the huge supply of debt that needs to be absorbed; and second, the not-unreasonable possibility that an increase in inflation will not be just temporary.” While he is bullish for the economy’s immediate future, there are serious challenges ahead for the U.S., Dimon said. The country has been tested before – though conflicts starting with the Civil War, the Great Depression and the societal upheaval of the 1960s and 1970s, he said. “In each case, America’s might and resiliency strengthened our position in the world, particularly in relation to our major international competitors,” Dimon said. “This time may be different.” The past year highlighted challenges for U.S. institutions, elected officials and families, as our country’s rivals see a “nation torn and crippled by politics, as well as racial and income inequality – and a country unable to  coordinate government policies (fiscal, monetary, industrial, regulatory) in any coherent way to accomplish national goals.” The country ultimately needs to “move beyond our differences and self-interest and act for the greater good,” Dimon said. “The good news is that this is fixable.” Nick Note:  Forget the bullshit… This is the greatest boom economy EVER… And like ALL booms they end in busts….. Its like the law of the Universe.. Let me do the planning. Right now you concentrate on controlling your broker, significant other and your lizard……. If your a no dick ETF trader your looking further out for the bust. I know what i am doing…. Remember its hard to dance to TWO tunes at once…… and most people cannot see beyond the tip of their dick or the nipples on their titties…..

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FOMC remains committed to dovish policy

Although the Summary of Economic Projections (SEP) released after the mid-March FOMC meeting showed some disagreement among Fed officials on how long to leave the fed funds rate at near zero, the minutes offered few hints of any serious tensions,” notes Paul Ashworth, Chief US Economist at Capital Economics.

“The minutes were, on the whole, as dovish as expected, noting that labour market conditions for “those in the most disadvantaged communities were viewed as lagging” and, as a result, “the economy was far from achieving the FOMC’s broad-based and inclusive goal of maximum employment”.”

“Officials were unworried by the sharp rise in Treasury yields, rationalising that “as reflecting the improved economic outlook, some firming in inflation expectations, and expectations for increased Treasury debt issuance”. The minutes do warn that “disorderly conditions” in the Treasury market could derail the recovery, but leave it at that without quantifying what that means.” “All things considered, there is little here to change our view that the Fed will wait until late 2023 before beginning to raise interest rates.” Nick Note: Not only is the Fed not taking away the punch bowl. They are backing up to the banquet hall a tanker truck full of Joy Juice to keep the party going. All talk of short rates going higher is just desperate MSSSS Investment banker spin because HE/SHE/IT got caught on the wrong side this powerful rally.

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All adults in US will be eligible for vaccination by April 19 – Biden

President Biden announced Tuesday that he is moving up the deadline for states to open up COVID-19 vaccinations to all U.S. residents 18 and older by about two weeks. Less than a month after directing states to expand eligibility to all adults by May 1, Biden changed that deadline to April 19.

“No more confusing rules, no more confusing restrictions,” Biden said.

The president made his announcement after visiting a vaccination site at Virginia Theological Seminary in Alexandria, an Episcopal institution founded in 1823. His visit was intended to highlight the participation of religious organizations in the vaccination effort. Most states have either made vaccines available to all residents 16 and older or announced plans to do so by mid-April. The White House did not say how it intends to get the handful of remaining states to move up their timelines. Officials announced at the end of March that nearly half of states were set to expand eligibility to all adults by April 15, and that 46 states and Washington, D.C., would do so by May 1. In the weeks since, the remaining four states — New York, Wyoming, South Carolina and Arkansas — have all opened vaccines to the general public.

Biden also announced that the U.S. administered 150 million doses in his first 75 days in office, a pace that puts the administration on track to surpassing his previously stated goal of reaching 200 million doses in his first 100 days.

The country is averaging 3.1 million shots per day over a seven-day period, White House officials said Monday, and reached a new milestone over the weekend with an unprecedented 4 million vaccinations recorded in one day. Nearly 1 in 4 adults are fully vaccinated, officials added. According to NPR’s vaccine tracker, 18.8% of the U.S. population is fully vaccinated, and 32.4% has had at least one dose. The states with the highest percentage of their populations vaccinated include New Mexico, South Dakota, Alaska, Rhode Island and Maine. Nick Note: This is critical for out trade. First of all the mRNA vaccines work and America is months away from achieving heard immunity. In other words the masses will soon be vaccinated and the vaccines really really work. So we are 6 months away for the restriction being lifted, the captives being set free with a pocket full of stimulus cash.  And the stock market has not priced in the boom times like never seen before this will create in the economy.

 

 

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Credit Suisse overhauls management as it takes $4.7 bln hit on Archegos

ZURICH — Credit Suisse said on Tuesday it will take a 4.4 billion Swiss franc ($4.7 billion) hit from dealings with Archegos Capital Management, prompting it to overhaul the leadership of its investment bank and risk divisions. The scandal-hit bank now expects to post a loss for the first quarter of around 900 million Swiss francs. It is also suspending its share buyback plans and cutting its dividend by two thirds. Switzerland’s No. 2 bank, which has dumped over $2 billion worth of stock to end exposure to the New York investment fund run by former Tiger Asia manager Bill Hwang, said Chief Risk and Compliance Officer MSSSSS Lara Warner and investment banking head Brian Chin were stepping down following the losses. The Archegos hit eclipses the bank’s 2.7 billion Swiss franc net profit last year, with questions over how its exposure to Hwang became so big remaining unanswered. “The significant loss in our Prime Services business relating to the failure of a US-based hedge fund is unacceptable,” Credit Suisse Chief Executive Thomas Gottstein said in a statement. “Serious lessons will be learned.” It is the second major scandal for Credit Suisse in just over a month after the collapse of Greensill Capital, with the bank’s shares down by a quarter since March 1. The bank’s board has launched an investigation into the Archegos losses and also begun a probe into its $10 billion supply chain funds which invested in bonds issued by Greensill. Proposed bonuses for executive board members have been scrapped and outgoing chairman Urs Rohner, who has presided over the bank since 2011, will forgo his 1.5 million Swiss franc chair fee for the year. Incoming chairman António Horta-Osório, currently CEO of Britain’s Lloyds Bank, is being kept apprised of the investigations, which are being led by a “very senior member” of the board, a source familiar with the matter said. Credit Suisse shares were up 1.26% at 1025 GMT as the bank said the Archegos loss had overshadowed a “strong” start to the year by its investment bank and wealth management units. The bank said Christian Meissner, who ran investment banking at Bank of America before joining Credit Suisse last year, would be appointed chief of the investment bank from May 1. Joachim Oechslin will resume on an interim basis the role of chief risk officer, which he held previously until February 2019, while Thomas Grotzer will become interim global head of compliance. “At least – in our opinion – personnel consequences have now been taken. The main damage, however, has been inflicted on shareholders, who have to make do with a lower dividend and a suspended share buyback,” said Michael Kunz, an analyst at Zuercher Kantonalbank. “In view of the bank’s vulnerability to risk….it does not seem appropriate to us to recommend bets on the securities of CS Group.” Warner and Chin are paying the price for a year in which Credit Suisse’s risk management protocols have come under harsh scrutiny. JPMorgan Chase & Co analysts estimate that combined losses from the Archegos and Greensill scandals could add up to $7.5 billion. Australian Warner only took on the risk management and compliance role in August last year, having previously been group head of compliance and chief financial officer of the investment bank. Chin ran the bank’s global markets unit between 2016 and 2020 before it was rolled into the investment bank. Credit Suisse has also been in touch with all members of its core regulatory college — comprised of Swiss financial market supervisor FINMA, Britian’s Prudential Regulation Authority and the U.S. Federal Reserve — over the Archegos matter, the source familiar with the matter added. FINMA confirmed it was in contact with Credit Suisse on the issue, but declined further comment. Archegos fell apart late last month when its debt-laden bets on stocks of certain media companies unraveled. Credit Suisse and other banks, which acted as Archegos’ brokers, had to scramble to sell the shares they held as collateral and unwind the trades. The episode, along with Greensill, adds to pressure on CEO Gottstein who has been trying to move Credit Suisse on from an earlier string of bad headlines spanning a spy scandal that ousted predecessor Tidjane Thiam to a $450 million write-down on a hedge fund investment.  Last month Credit Suisse said it was separating its asset management business from its wealth unit and bringing in former UBS executive Ulrich Koerner to lead the funds business. “Obviously heads are rolling. After any sort of blow up there’s always tighter control,” said Jason Teh, chief investment officer at Vertium Asset Management in Sydney, adding the bank had lost a lot of money and its share price would struggle to rally. While some banks were able to relatively quickly offload collateral related to Archegos, including shares of ViacomCBS , Baidu Inc and Tencent Music Entertainment Group, Credit Suisse was still selling on Monday. A source familiar with the trading said the bank had offered 34 million shares of ViacomCBS priced between $41 and $42.75; 14 million American depository receipts of Vipshop Holdings Ltd between $28.50 and $29.50, and 11 million shares of Farfetch Ltd priced between $47.50 and $49.25 in secondary offerings. Credit Suisse has now substantially reduced the vast bulk of its exposure to Archegos, the first source said, although some residual risk remained. Nick Note: Most of the time slamming on the brakes is NOT the best way to avoid a wreck. Years of racing on track and off track… running moonshine down highway 7 (before i was old enough for a drivers license) between Jasper and Russeville Arkansas taught me get the fuck out of their was always a better outcome as long as i did not go off the cliff. I learned a few other things like a set of brass balls, nerves of steel, a proper set of racing tires,  a full blown V8, Heavy Duty Sway bars, coil over shocks and 4 wheel independent suspension. The police cruisers with their heavy 4 doors, slow reeving long stroke engines, straight rear axles and if you can believe torsion bar front ends did not stand a chance. Of course it helps if your smart enough to memorize every twist and turn and Know exactly your line and speed through every inch of the road. Now you may wonder what has this shit to do with MRSSSSSSSS WARNER affirmative action ha ha ha risk manager wipe out. Now I now its not PC but SHEEEEEE (actually a blond) managed to get the biggest swaps margin call and debt equity ever. And the reason is ivy league preppie schools gives you the wrong skill set (especially if they convince you yout a oppressed miniotry of one flavour or another)  for trading. Even if they send you to Belize for a week swinging on ropes. Its a life time of life and death FOR REAL challenges…. coupled with trading BIG money and making big money on you hook and a highly developed brain. A high IQ does not hurt either. They are still holding the losing positions offered in various chunks. Now if they were smart like my friend Bernie (all Stock going down) wasn’t. You have to be smart. If Bernie had closed the fund for redemptions (liked i beg him to) in 2 years he would have been whole. If Lehman just did structured debt  and took the deal they would have never wiped out. Because what you may not know is the Lehman’s Portfolio and Bernis trash wagon all ended up back in the money. Same things with sweet tit corporate bitchs current fuck up. Simply place the paper in a fund. Take title to half the positions and sell it as a ETN and call it the Archegos high yield investment fund. And i guarantee it would be in profits in 6 months. But if you have not been their and really have the T shirt all you know is to slam on the brakes and hit the sell button while you panic taking your  choice from you “doctor” of Xanax, Valium, Klonopin or Ativan depending upon which drug company is offering you Doctor the best bonus… I cannot not believe the crop of fools trusted with trillions of dollars of other people money that they will soon enough lose

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US Job openings up to 7.4 million in February — more proof of ultra-strong labor market

The number of U.S. job openings rebounded to a near-record 7.49 million in March, showing that companies are still ready and willing to hire even though the economy is not growing as rapidly as it was a year earlier. Job openings had fallen to nine-month low of 7.14 million in February, when hiring was crimped by poor weather and the lingering effects of a partial government shutdown. Openings hit an all-time high of 7.63 million last November. Transportation and warehousing companies — the firms that deliver internet packages — increased help-wanted ads by 87,000. Job listings for construction rose 73,000. And real estate-related job openings climbed by 57,000. The share of people who left jobs on their own, known as the quits rate, was flat at 2.5% among private-sector employees. The rate was unchanged at 2.3% for all workers including those in government. More workers tend to quit when they feel secure enough to leave one job for another — a sign of a healthy economy. The quits rate has risen steadily in the past decade from a post-recession low of 1.4%, though it appears to have peaked. A strong labor market is acting as guardrails for the U.S. economy, keeping it on track to break the record for longest expansion ever in a few months. The rate of unemployment fell last month to a nearly 50-year low of 3.6% and layoffs are also at a half-century low. Job openings have now exceeded the number of unemployed Americans for 13 straight months,” noted Julia Pollak, a labor economist at employment marketplace ZipRecruiter.  “This report is a calming return to the trend we’ve seen for years now: high labor demand translating into a slow but steady increase in worker confidence,’said Nick Bunker, an economist at Indeed Hiring Lab. “This uptick is a positive sign, though year-over-year growth in job postings is still on the decline.” Nick Note: Further proof of the booming economy we are in. When everyone figures it our the stock market will peek. Still plenty of the poeple on the side lines playing I am from Missouri… Show me. And we will… And sell them some hopefully if i can guess right at the peek… Won’t that be funnnnn…

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GM deliveries in China surge 69% in Q1, US car sales soaring too

GM and its joint ventures delivered more than 780,000 vehicles in China in the first three months, a 69% increase in comparison to the same period last year when it was negatively impacted by the COVID-19 pandemic. The company’s rebound was driven by performance in luxury and premium vehicles, as well as midsize and large MPVs and SUVs.The carmaker added it is also introducing cutting-edge EV technology in China with the industry’s first hyper-scale battery platform Ultium. The first product that will use Ultium in China, the Cadillac LYRIC SUV, is slated to debut at Auto Shanghai 2021 in late April. US car sales are also booming. Automaker sales figures are streaming in, both for the month of March and for the first quarter of 2021. The news is generally good, and in some cases, really good with near-universal increases in the double digits and some brands even reporting triple-digit jumps. March 2021 was something of a perfect storm for record-setting sales, as a year ago saw COVID-19-related shutdowns crippling the auto industry hard. COVID is obviously still an issue, but with markets generally open and shoppers flush with stimulus payments, March 2021 was an extremely active period for new car purchases. Nick Note: Reality is the US and China will lead the world out of the pandemic meltdown. Do not listen to the skeptics.  The World economy is about to explode with a massive growth spurt. When we get the herds of millennials stampeding off the cliff, we will be their charging them a market plunge tax. Or should we say a burning movie theater fire door exit tax. But for now first things first.