A Bronx precinct commander is quitting over the NYPD’s handling of police reform. NYPD Deputy Inspector Richard Brea, a nearly three-decade veteran of the force, says his bosses have not provided sufficient guidance on how to rid the streets of guns and drugs since the department has disbanded and reassigned its anti-crime unit, according to… Read More

A proposal introduced by New York City Council speaker Corey Johnson and seven other City Council leaders would knock $1 billion off the NYPD’s $6 billion budget. “We believe that we can and should work to get to $1 billion in cuts to New York City’s police spending in the Fiscal 2021 budget, an unprecedented… Read More

California-based startup Hoversurf had one of its Hoverbikes crash in Dubai this week, and the scary footage was uploaded to YouTube (now taken down), shows the rider of the bike falling out of the sky.  Hoversurf is an electric vertical takeoff and landing (eVTOL) vehicle that Dubai Police have expressed a lot of interest in adding a fleet of these… Read More

The OECD released its latest Economic Outlook earlier this week, revealing the projected impact the COVID-19 pandemic will have on global GDP in 2020. When assuming there will be no second wave of infections in 2020, gross domestic product is currently expected to be down by 6 percent on last year; but, as Statista’s Martin Armstrong notes, should we… Read More

Tesla shares breached the $1,000 threshold in intraday trading for the first time on Wednesday, after: a week of Jim Cramer pumping Ron Baron’s appearance on CNBC, where he said the company’s stock could 10x from here mysterious call option purchases that we pointed out last month four workers at Tesla testing positive for coronavirus… Read More

We know what you’re thinking: Isn’t this just another “Spanish porn star arrested on manslaughter charges after inhaling psychedelic toad venom” story? It seems like they are just a dime a dozen nowadays. But such is life: the latest case comes from Madrid, where a porn star named “Nacho Vidal” (of course) was arrested not only on… Read More

Authored by Paul Joseph Watson via Summit News, A man interviewed on camera during last night’s chaos in Minneapolis warned that rioters are planning on “coming to the suburbs” if they don’t get what they want. The twin cities were once again rocked by a night of absolute bedlam as more stores were looted and… Read More

At this point, most market participants outside California know LA County Public Health Director Dr. Barbara Ferrer as the public servant whose “miscommunication” Tuesday afternoon about a three-month extension to her county’s stay at home order was blamed for reviving anxieties about the economic reopening in the US that helped hammer stocks lower last week. The… Read More

Illinois Democratic Rep. Bobby Rush has introduced the H.R. 6666 TRACE Act, which includes a $100 billion grant program which would authorize the Secretary of Health and Human Services to create an army of contact tracers operating through healthcare, schools and nonprofit entities, who would perform COVID-19 diagnostic testing “through mobile health units and, as… Read More

Cutting to the chase, the market is now up 30% from its March 24 lows with the Nasdaq back in the green for 2020, and yet as Goldman pointed out earlier, there is now more confusion over what the market does next than in mid-March. And since money talks and bullshit writes long-winded research reports… Read More

Authored by Gavin Phillips via Off-Guardian.org, “This is the largest interference with personal liberty in our history” – Lord Sumption Virtually overnight our world has turned into a wasteland of closed towns, deserted streets and a few people scuttling along with masks and stricken faces. It’s a place bereft of imagination, the light sucked out;… Read More

It used to be a running joke among traders that when markets crash, central banks step in – either directly or in the case of the Fed indirectly via Citadel – and buy stocks to prop up the market and short up confidence. That joke is now the truth. Now that the Fed is openly… Read More

One month ago, with the S&P500 staging an impressive V-shaped rebound from the March 23 lows after the Fed unleashed a nuclear bomb of monetary stimulus, we showed that forward stock multiples had surged right back 19.4x, which was just above the level the S&P500 held on Feb 19 when it was trading at an… Read More

Last weekend we showed that as oil storage on land was rapidly filling up, a familiar sight was seen off the coast of Asia’s oil hub in Singapore: a record surge in tankers on anchor used as seaborne storage, and taking advantage of the supercontango just waiting for oil prices to rebound so they can… Read More

Authored by Christina Ramirez, fist published in Real Clear Politics, In most countries in Europe and North America, governments have imposed lockdowns of their populations and economies. At first glance, this strategy would seem to strike a reasonable, if painful, bargain: pay the price of (hopefully temporary) limits on civil liberties and economic recession (if… Read More

As experts try to model the true number of coronavirus deaths, and some random ‘surveillance’ studies have suggested that – at least in some badly hit areas – the number of confirmed coronavirus cases might be many multiples of the official count, the FT has published its latest attempt at trying to ‘model’ the true… Read More