Read this First 5/12/2020

ANARCHY!!! ANARCHY !!! ..As Governors make threats, people, businesses, and even other politicians reply, "Whaddya Gonna Do??"..and.. they are RIGHT. We live in a world of social contracts that keep society civil. But, the reality is that if EVERYONE tells the Governor and police or National Guard, "NO" there is NOTHING they can do about it. Since Kent State.. they AREN'T gonna shoot, anymore ... Judges have already begun to side with "reason" and many Governors are finding their disorganized power trips are Unconstitutional and unenforceable. Sheriffs and police are refusing to arrest people. PA, NJ, CA, Michigan are seeing revolts by businesses that feel they have no "GOOD" choice. Either open their business and face fines or stay closed and go bankrupt. NY Gov. Cuomo felt the heat and announced upstate businesses will begin to open in three days. PA Gov. Wolf is threatening certain counties they won't get any of that Federal Covid money. The response? IMPEACH WOLF!! .. and..

Even though I am making light of the situation, think how dangerous this is for our society. Police are not ALLOWED to decide which laws to enforce and which ones to ignore. If a Governor issues an order the police can follow it, or resign. If the orders are "arbitrary and capricious" a judge can overturn them. If "the people" hate the orders, VOTE the BUM OUT!!" .. In times of crisis you LEAN on the Constitution, not Burn it !!! ... and...

Out in California, Tesla head Elon Musk found a simple way to end his stand off with the "ignorant, unelected, interim health officer" that refused to let his factory open. Musk announced, "we're opening. I'll be on the line with everyone else.. If they decide to arrest someone, let it be me". If he gets arrested at least he'll have a place to stay. He announced last week he is selling all possessions including his house... and..

In a move called, "The Inmates are smarter than Politicians" there were several California inmates seen on security camera PURPOSELY infecting themselves with Coronavirus in an attempt to get released. They should bus them all to the neighborhoods of these idiot politicians and celebrities that called for "humane" release of criminals so that they don't die of Coronavirus. Prison sucks!! Its sucks and you are there for a REASON! .. and..

UBER is taking some heat for being a bit cold. In a three minute video call, 3500 employees were told that ridership is down 50% and they were being let go. A) That stinks for them. B) I guess that's a little harsh. Like a Mass Firing squad .. But, some of the ex-employees need to be slapped. One complained, "it was shocking and without notice". Without, notice? WHAT?? What are they supposed to do? Say. "Sign on to the Video Chat so we can fire you?" .. Without Notice? Really? You didn't have the slightest Idea that the "office staff" of a Rideshare company might get cut a little during a Global Pandemic when people are not allowed outside? If you had NO IDEA it was coming then you are too stupid to have a job, anyway ...

In Da Swamp: Dr. Fauci and other experts will testify at the Senate today. NY Senator is giddy with excitement because Fauci is expected to say that more people will die if we re-open too soon. Of course they will..and let me point something out. Fauci is NOT an expert on when to re-open. NO ONE is. To early, there may be extra COVID cases. To late, and companies go under and people lose their livelihood. Fauci is an expert on DISEASE. Nothing else. In America, we make decisions EVERY DAY that affect our life and health. Smoking, drinking, eating that fifth doughnut.. Sitting on the couch or going for a walk or a bike ride.. If it were up to Infectious Disease researchers we would ALL be in Lockdown half of every year .. or more...

One thing I'm gonna miss when this is all over? Saying "Fauci". Fauci. FAUCI.. Say it.. Its FUN .. and ...

One Group of people that are happy about the Covid-19 story are Obama's top advisors. Oh BOY does this get worse by the minute. It is now clear that RussiaGate was a coordinated effort to spy on the Trump Campaign. Obama's advisors were saying things on Television.. then. when put under oath.. said DIFFERENT things.. Of course the Loser Media wants this buried.. but without Coronavirus they would have to pay a LITTLE attention to it.. That or the (Now 8 of them) Biden Accusers .. and..

A Michigan Judge says YES to the STRIPPAHS!!! Michigan Judge Leitman ruled that strip joints can apply for PPP loans. He doesn't see how Congress would purposely preclude them and ruled they can apply. You think they will? Or are they making more on Unemployment? .. Wait.. let me go out back by the pool and ask a few... .. "playing Jeopardy Music"..... ..

Yup, they would rather dance than collect unemployment checks. They say the checks are itchy when they put them in their G-strings.. ...

SPORTS: Judge Robert Chatigny needs to be removed. He is Judge in the case where Connecticut girls are suing to block males from competing as girls in sports. He ruled that the lawyers cannot call the defendants "males" but must call them "transgender female athletes". The lawyers (RIGHTLY) pointed out that is impossible. The case is ABOUT the fact that they are male. The lawyers offered to call them by their chosen first names but nitwit Judge Chatigny balked. Chatigny said, "if you are not going to follow my order, Gosh, we'll have to do something but I won't let you bully them". WOOOOWWWWW.. If this man is indicative of the state of our court system, I predict another Civil War in the USA during my lifetime... and..

MLB: Pitcher CC Sabathia was a big, powerful, all star pitcher. Then he got in shape and lost a bunch of weight.. and was NOT a good pitcher. So, he got chubby again and pitched well. Now he is retired.. and .. well.. he doesn't care about his fastball. HERE ...

Move Over Tony Hawk .. Years ago Tony Hawk pulled off a "900" on a skateboard on a vertical ramp. Gui Khury of Brazil had lots of time to practice while school is closed. He did.. and he pulled off the Holy Grail in the Skateboard world.. Gui hit the coveted 1080. Three full turns in the air...and its ON VIDEO so it COUNTS!!! Oh, and Gui is 11 years old.. ... HERE ..

CELEBRIDIOTS: Tuesday RIPS: RIP to Legend Jerry Stiller, 93. Half of the Comedy Team, "Stiller and Meara", father to Ben Stiller, and later, George Costanza's dad on Seinfeld. Loved and Missed ... and .. RIP Roy Horn, 75 of the Vegas Tiger Team Siegfried and Roy .. RIP Betty Wright, 66 the R&B Singer ... RIP Rapper Nicky Blixky, 21 ..shot 7 times with a shotgun in Queens, NY .. and RIP to Legendary R&B Rocker Little Richard, 87. TUTTI FRUTTI !!! .. and...

A RIP from the breaking news.. RIP to Youtube star Corey La Barrie who died last night on his 25th Birthday. Corey was partying with "Inkmaster" Dan Silva and they got in Silva's McLaren and crashed. Silva survived and is under arrest ... and..

Rocker Bryan Adams told it straight last night and is getting a little backlash for cursing. Adams posted a video of him playing an acoustic version of "Cuts Like a Knife". He started by saying, "Tonight I was supposed to start a group of shows in London.. but.. because of some F--kng Bat Eating, wet market animal selling greedy bastids, the whole world is now on hold.." Hmmm.. what do you REALLY think, Bryan?? ...and..

A Few readers suggested I add a dancer/model/Instagram girl to the "She doesn't HAVE a bad side" list for photographers. Alexis Ren ..HERE .. Well, why does she have her hair covering her right eye all the time?.. errr... ya know what .. Doesn't matter ...

From SeekingAlpha.com

The central bank's Secondary Market Corporate Credit Facility will begin purchases today of eligible exchange-traded funds invested in corporate debt, seeing the method as a fast way to direct money into the credit markets. It's a historic milestone for the Fed, which hasn't yet bought any ETFs. The program, managed by BlackRock (NYSE:BLK), centers around investment grade corporate bonds, though some will be high-yield. Another Fed facility designed to buy debt directly from issuers, the Primary Market Corporate Credit Facility, is set to launch "in the near future." Go deeper: Frenzy of corporate debt offerings.

Ahead of the open

Another mixed day may be in store on Wall Street amid optimism about an economic recovery and fears about a second wave of coronavirus infections (Dr. Fauci will testify before the Senate at 10 a.m.). Pointing to bigger gains overnight, U.S. stock index futures have now inched closer to the flatline, up 0.2%. On the trade front, President Trump said he opposed renegotiating the U.S.-China Phase One deal, while Beijing announced a new list of 79 American products eligible for waivers from retaliatory tariffs.

Aviation industry warning

"Air traffic levels will not be back to 100% by September. They won't even be back to 25%. Maybe by the end of the year we approach 50%," Boeing (NYSE:BA) CEO Dave Calhoun said in an interview with NBC to be aired today. "So there will definitely be adjustments that have to be made on the part of the airlines." Asked by Today show host Savannah Guthrie if a major airline might have to fold, Calhoun replied, "Yes, most likely." Related tickers: AAL, ALGT, ALK, DAL, FRNT, HA, JBLU, LUV, SAVE, UAL

Largest solar project in the U.S.

The Department of the Interior has given final approval for Berkshire Hathaway's (BRK.A, BRK.B) $1B solar project in Nevada that could power 260K households, enough to cover the entire residential population of Las Vegas. When finished, the 690 MW Gemini Solar Project would become the world's eighth largest solar power facility in the world, spanning some 7,100 acres of federal land. The developers aim to build the project in two phases over 28 months, with the first portion coming online in early 2021 and final facility completion as early as 2022.

Shale pioneer considers bankruptcy

Chesapeake Energy (NYSE:CHK) does not expect to be in compliance with financial covenants beginning in Q4 and "management has concluded that there is substantial doubt about the company's ability to continue as a going concern." It's the second such warning by the company since November. This quarter's review of the value of Chesapeake's untapped oil and gas reserves is likely to show a decline due to its distressed finances, reducing its ability to borrow against those assets.

Tesla ignores local authorities

Tesla (NASDAQ:TSLA) restarted production yesterday in Fremont against Alameda County rules, ratcheting up a dispute that has received national coverage. "I will be on the line with everyone else. If anyone is arrested, I ask that it only be me," stated Elon Musk. Alameda's Public Health Department said it's addressing the matter with the same phased approach it uses for other businesses that have violated the order in the past and Musk did not end up in handcuffs.

Branson cashes in part of space venture

Looking to shore up its other travel and tourism businesses, Richard Branson's Virgin Group plans to sell as much as 12% (worth around $500M) of space-tourism venture Virgin Galactic (NYSE:SPCE). Last Month, Virgin Australia filed for bankruptcy, while U.K.-based Virgin Atlantic is asking for financial assistance from the U.K. government. Other businesses, such as a new Virgin cruise-line venture and a U.S. hotel group, have also been whacked by the coronavirus pandemic.

Sub-zero in the U.K.

Britain could be headed toward negative interest rates at upcoming Bank of England monetary policy meetings, according to Deputy Governor for Monetary Policy Ben Broadbent. "The committee are certainly prepared to do what is necessary to meet our remit with risks still to the downside," he told CNBC. Besides two previous rate cuts, the BOE has announced £200B of fresh quantitative easing, bringing its bond buying program to a total of £645B.

Vodafone keeps dividend

Vodafone (NASDAQ:VOD) +5.4% premarket after meeting estimates with a 2.6% rise in full-year core earnings to €14.9B, though it pulled guidance due to coronavirus uncertainty. "We are experiencing a direct impact on our roaming revenues from lower international travel," according to the company, "however, we are seeing significant increases in data volumes and further improvements in loyalty." Vodafone also maintained its full-year dividend at €9.00 a share after cutting the payout a year ago to shore up its balance sheet.

Latest move against disinformation

Twitter (NYSE:TWTR) is beginning to label tweets that contain "disputed or misleading" information about the coronavirus and the COVID-19 pandemic. Some tweets may simply come with a linked label directing users to additional information; other tweets may be covered entirely by a warning label that will say "that the information in the Tweet conflicts with public health experts' guidance before they view it." The potential remedies may also include removal of the information.

What else is happening...

Over-the-air updates for Ford's (NYSE:F) Mustang Mach-E.

BlackRock's (NASDAQ:BL) largest shareholder sells 22% stake.

Hard times in hospitality has Hyatt (NYSE:H) lay off 1,300.

Toyota (NYSE:TM) sees profit dropping 80% in 2020.

Saudi Aramco's (ARMCO) Q1 net profit tumbles 25%.

General Mills (NYSE:GIS) lifts outlook on at-home demand.

WeWork (WE) directors seek right to continue SoftBank (OTCPK:SFTBY) fight.

Paul Tudor Jones has 1-2% of assets in Bitcoin (BTC-USD).

Monday's Key Earnings

Energy Transfer (NYSE:ET) +0.7% cutting 2020 capex by another $400M. Hertz (NYSE:HTZ) -2.8% AH after liquidity update, earnings. Simon Property Group (NYSE:SPG) +4.6% AH reopening 89 properties. Tilray (NASDAQ:TLRY) -5.3% AH as losses piled up. Under Armour (NYSE:UAA) -9.7% warning of a sharp revenue decline.

Today's Markets

In Asia, Japan -0.1%. Hong Kong -1.5%. China -0.1%. India -0.6%. In Europe, at midday, London +1%. Paris -0.3%. Frankfurt +0.3%. Futures at 6:20, Dow +0.2%. S&P +0.2%. Nasdaq +0.2%. Crude +5.6% to $25.48. Gold +0.5% to $1706.50. Bitcoin -0.2% to $8785. Ten-year Treasury Yield flat at 0.72%

Today's Economic Calendar

6:00 NFIB Small Business Optimism Index 8:30 Consumer Price Index 8:55 Redbook Chain Store Sales 9:00 Fed's Bullard: “The Federal Reserve's Outlook for Testing Times” 10:00 Fed's Harker Speech 10:00 Randal Quarles to testify before the Senate Banking Committee 1:00 PM Results of $32B, 10-Year Note Auction 2:00 PM Treasury Budget 5:00 PM Fed's Mester Speech

1 view