Thursday, April 16, 2020

Grain of $alt

"Selling swept Wall Street Wednesday after a dismal lineup of reports made clear how historic the coronavirus crunch has been for the economy. Markets are already bracing for what’s forecast to be the worst downturn since the Great Depression, but Wednesday’s data were even more dispiriting than expected, including a record drop for US retail sales. Adding to the gloom: More banks made moves in anticipation that households and companies will be forced to default on billions of dollars of debt as businesses remain shut and millions of workers lose their jobs. Stocks around the world fell, reversing Tuesday’s up trend, as markets continue to cycle between fear and budding optimism about how long and deep the recession will be. “We should take any company forecast and analyst forecast with a grain of salt here,” said David Kelly, chief global strategist at JPMorgan Funds.....

Place your bets, place your bets:

Mass. casinos record their worst month yet amid coronavirus closures

Who gives a f*** about the goddamn casinos?

That's a NON-ESSENTIAL BUSINESS that should be PERMANENTLY SHUTDOWN!

Boston Scientific gets OK to make a low cost ventilator

That comes as they are cutting hours and pay as well as jobs!

Better be $ure to repay that loan:

"Banks brace for big loan defaults by US, global customers" by Ken Sweet Associated Press, April 15, 2020

NEW YORK — The major US banks are anticipating a flood of loan defaults as households and business customers take a big financial hit from the coronavirus pandemic.

JPMorgan Chase, Wells Fargo, Bank of America, Citigroup, and Goldman Sachs raised the funds set aside for bad loans by nearly $20 billion combined in the first quarter, earnings reports released over the past two days show, and Wall Street expects that figure may go even higher next quarter, a possibility bank executives acknowledged on earnings conference calls.

Bank of America and Citigroup said Wednesday that their profits sank more than 40 percent in the first quarter as both set aside billions for potentially bad loans. A day earlier, JPMorgan Chase and Wells Fargo reported even steeper drops in profit as those banks also set aside large sums to cover loan losses.

Awwww, the poor babies! 

The record-setting quarter after record-setting quarter days are over, huh?

Even the investment banks were not immune to the pandemic. Goldman Sachs’s first-quarter profit dropped by 46 percent from a year earlier, because of significant losses on its own investments as well as a buildup in reserves for potential loan defaults.

I really don't give a f*** about them or there problems, that criminal cla$$ of looters who should be hung from lampposts. Millions of lives have been ruined at the whim of them and Bill Gates!

At least you know where all the bailout loot is going, American. It's to shore up the banks when you default and are evicted. 

Welcome to Kushner-World!

The coronavirus outbreak has bought the US economy to a virtual standstill in just weeks. Most economists — and bank CEOs — expect the country to go through a depression. The only question is how severe: Second-quarter gross domestic product is expected to drop from 30 percent to 40 percent and the unemployment rate is seen rising as high as 25 percent.

The "virtual standstill" was on the orders of power-crazed, tinpot governors.

On Tuesday, JPMorgan CEO Jamie Dimon said the bank was preparing for a “severe recession.” Wells Fargo CEO Charlie Scharf said, “We all know we haven’t seen anything like this before.”

One signal on how quickly consumers are pulling back came in the latest retail sales data from the government. Retail sales fell by 8.7 percent in March, the worst monthly drop in that datapoint on record. Consumer spending accounts for roughly 70 percent of US gross domestic product, so that drop is particularly troublesome.

Bank of America’s own data showed the consumer pulling back dramatically. Many of the loans now at risk were fine only weeks ago, but the pandemic has caused companies to shutter and millions to be put out of work.

They STOLE YOUR LIVELIHOOD and RUINED YOUR LIVES to LOOT SOME MORE and cover their DAMN CRIMINALITY and in order to rush in their one-world, one-currency form of control for the entire planet!

Banks have scrambled to come up with payment options for their now-distressed customers, from cutting fees, making monthly payments smaller, or allowing borrowers to skip a month’s payments altogether. Roughly 1 in 6 small businesses that have loans with Bank of America are now in some sort of payment deferral program, the bank said Wednesday.

Are they putting them through as many hoops as small business is having to hop through with the loan program?

On Wednesday, the bank said it nearly quintupled its loan loss provisions to $4.76 billion, while Citi set aside $7.03 billion, up from $1.98 billion in the first quarter a year earlier. Both have large credit card operations, and Bank of America also has a large consumer banking business while Citi has a large international banking franchise and lends to companies around the globe.....

I hope they all go bankrupt and literally self-combust and implode.

--more--"

Related:

Mass. lawmakers reach deal to block nearly all evictions during coronavirus crisis

A vote could come as soon Thursday, sending the measure to Governor Charlie Baker.

Forecasting an economic tsunami as foreclosures rise and mortgages sink underwater

As household incomes decline due to unprecedented job losses, mortgage payments will be difficult or impossible for millions of people says Rachel G. Bratt, a professor emerita at Tufts University and a senior research fellow at the Joint Center for Housing Studies of Harvard University.

I gue$$ she will still have job:

Harvard announces hiring and salary freezes, president and top leaders take a 25 percent pay cut

You can take that to the bank, for it is an article by Globe Correspondent Abigail Feldman.

Also see:

Diversion program offered to supsects in anti-semitic graffiti case

The report says "after speaking with community members, property owners, and local faith leaders, police and prosecutors decided not to pursue criminal charges for the individuals. Instead, the pair have the option to complete Middlesex District Attorney Marian T. Ryan’s Juvenile and Young Adult Diversion Program, officials said," meaning it must have been another self-inflicted false flag by good Jewish boys at bottom.

Fatal house fire deemed accidental

A house fire that killed a 27-year-old man on Easter Sunday has been determined to be accidental, but the cause cannot be determined, the state fire marshal’s office announced Wednesday.

Large explosion damages paper mill

Holyoke center making its power available for free to virus researchers

MassMutual offers free life coverage to frontline health care workers

Weld back at Mintz after ending presidential bid

He is back on the pot now.

Mass. relief fund raises nearly $20m

How hot!

Mayor Walsh offers sobering take on the reopening of Boston businesses

It will be a slow, gradual process, so ring the church bells on Boston's economy.

Mayor Walsh asks residents to stand as ‘one Boston unified forever’

City councilors want health authorities to consider systemic racism when it comes to medical resources

I'm told “racism is the driving force behind health inequities,” from the council meeting held virtually via Zoom.

Maura Healey launches website for frontline workers

They are creating a two-tiered society and fawning over the collaborators in this fraud.

World War II veteran and his wife die on the same day, together

Both by COVID, of course.

88-year-old Watertown man uses bucket truck to see wife at nursing home

They are separated by coronavirus.

How do you escape an abuser in a pandemic?

You can't. They are the ones who ordered the lockdown and destruction of your lives.

Teenage girl fatally shot in Dorchester

Or you could take your chances and call the police:

Lack of available police prompts Springfield to reinstate five officers who had been suspended without pay

The Police State is looking for cops like that!

On Front Street:

"For the first time, state officials also released the number of local coronavirus cases in cities and towns, providing a more detailed picture of the contagion’s path.

“We are in the surge, yes,” Governor Charlie Baker said at a State House news conference, and it’s kind of the worst of all possible worlds.”  He even got emotional, and the Globe wants to see more of that.

"Dr. Nattaly Greene spotted it as soon as she entered the intensive care units: Dozens of Latino patients, their surnames posted outside their glassed-in rooms. She saw it too when she scrolled through the expanding list of coronavirus patients in the Massachusetts General Hospital computers. The crush of Spanish-speaking patients on ventilators and on regular floors at Mass. General has become so acute....."

People waited in line to get groceries at a pop-up food pantry in Chelsea.
People waited in line to get groceries at a pop-up food pantry in Chelsea. (Erin Clark/Globe Staff).

Look at them on their f***ing phones and not social distancing!

(below fold)

"State, local experts push back on university’s bleaker COVID-19 forecast" by Mark Arsenault Globe Staff, April 15, 2020

An influential University of Washington group forecasting the spread of coronavirus worldwide is now anticipating a much gloomier outcome for Massachusetts, with far more deaths than its original models, based in part on how residents may interpret state guidance on social distancing to slow the spread of the virus, but local officials and experts on Wednesday pushed back against the group’s model, saying it conflicts with in-state forecasts and does not accurately account for the social distancing taking place in Massachusetts.

Look at them arguing over the models that caused them to destroy your life and play the blame game!

You all should fry for this!

Two weeks ago, the University of Washington’s Institute for Health Metrics and Evaluation predicted that demand on Massachusetts hospitals would peak around April 14, and that by summer the virus would have killed nearly 1,800 people in the state. It updates its forecasts frequently as new data is available.

As of Wednesday afternoon, the study group was predicting an April 28 peak and had upped its forecast for COVID-19 deaths in Massachusetts to a staggering 8,219, a more than fourfold increase from earlier projections. Local state modeling as of last week, however, forecasts no more than about 4,300 deaths.

I'm sick of them throwing around these numbers of PRESUMED DEAD, as well as conflating and inflating the death tolls in a liberal manner, according to Birx.

That massive jump in projected mortality in the university’s model is being propelled by the number of deaths already recorded in Massachusetts, as well as the weight the model gives to a statewide stay-at-home order to promote social distancing, said Ali H. Mokdad, a professor of health metrics sciences at the Institute for Health Metrics and Evaluation and chief strategy officer for population health at the University of Washington.

This sick f***s that want to keep us all apart. One day we will all fall on them in our diseased state and devour his innards.

Increases in the number of fatalities is troubling, Mokdad said. Mokdad and his colleagues also take issue with the social-distancing messaging in the state. Governor Charlie Baker announced last month that nonessential businesses must close by March 24 and directed the Department of Public Health to issue a statewide stay-at-home advisory, urging residents to “avoid unnecessary travel and other unnecessary activities.”

I have a message for him, and I believe it is quite clear!

Other states, such as New Hampshire, have issued what they call stay-at-home orders, though they come with many exceptions for the necessities of daily life, such as going out for groceries or gas, visiting a relative, picking up takeout food, or just getting fresh air and exercise.

It may seem largely like a semantic difference, but the power of the “order” counts significantly in the University of Washington model, and Massachusetts’ long-term outlook appears far worse without it, Mokdad said.

(Blog editor just shakes head at the offensive evil in front of me. A turd, buy any other name, is no longer a turd. If he had issued an order that imprisoned us rather than an advisory, that would have flattened the predicted curve of the model. Hey, I eat your kidney, I eat your liver, let's do away with semantics along with freedom and liberty. What f***ing monsters)

Mokdad defended the model, saying an advisory is a weaker message and does less to promote social distancing. “When the government comes out and says, 'Hey, we have a serious problem, stay at home,’ people are more likely to stay at home,” he said. “When you say it’s an advisory and leave it up to the people, I mean — it is sending mixed messages at this time. The language is very important.”

Oh, I agree!

Of course, everything he just said has been turned on its head by the CDC which says we are all being good little lapdogs.

Talk about your mixed f***ing messages!

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Also see:

Welcome to crazy town: AKA grocery delivery

Yeah, the poor delivery slave who still has work is dropping off sickness along with the groceries!

Maybe you could get a summer internship doing that. 

Brian Dennehy, Tony-winning stage, screen actor, dies at 81

Retired Mass. State Police homicide detective succumbs to coronavirus

30 residents at Belmont Manor nursing home have now died of coronavirus, owner says

It's up 17 in five days, and he gets more money from Medicare than way.

Coronavirus spreads to 3 state-run facilities for those with mental illness, developmental disabilities

Another captive population that is vulnerable and useless eaters. 

Remember back when they fed the kids radioactive milk with their cereal? 

Yeah, this government would never do things like that.

Now we also have the awe$ome power of pharmaceutical companies and their ince$tuous relationship with the politicians and their portfolios. It's a revolving door for the likes of Donald Rumsfeld.

Massachusetts Army National Guard stood by while Governor Charlie Baker and Lieutenant Governor Karyn Polito toured a field medical station.
Massachusetts Army National Guard stood by while Governor Charlie Baker and Lieutenant Governor Karyn Polito toured a field medical station. (John Tlumacki/Globe Staff)

Let's face it; call it an advisory, call it whatever you will, it's MARTIAL LAW!

Baker urges residents to cooperate in contact tracing effort

That is as 137 new coronavirus deaths and 2,263 new cases were reported, and Baker is turning into a real Stalin:

"‘Mao-style social controls’ or benign citizen ‘armies’? NYT flip-flops on Covid-19 contact tracers – because now it’s not China" by Helen Buyniski, RT 16 Apr, 2020

‘Mao-style social controls’ or benign citizen ‘armies’? NYT flip-flops on Covid-19 contact tracers – because now it’s not China