Another Energy Bankruptcy Wipes Out Stock Value Worth -$7 Billion Chesapeake Energy Files Chapter 11
Chesapeake Energy has filed for chapter 11 bankruptcy after being swallowed up under massive debt obligations. The US energy sector has never recovered from the collapse in energy prices. It has nearly remained in a zombie state due to excess debt, in fact, foreign energy producers knew this when they crushed the price by flooding the world with cheap oil and the dominoes have begun falling. Chesapeake energy's filing means that the equity value of their stock will be close to -$7 billion and their investors will be holding worthless stock. All this from a company whose stock was trading near $84 about a month ago due to Robinhood users piling into the energy sector. Not everything that's cheap is actually a good deal. ... https://www.youtube.com/watch?v=ScGhZMby3Wo
To avoid getting lost, you have to know how to find your location.
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No two squares have the same number. To get the right numbers
for a certain grid square, read from left to right along the bottom
and locate the line that borders the grid square on the left. Then
read up and find the east-west line that borders the grid square
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The third-quarter GDP, which was the lowest since the collapse quarter of Q2 2020 when GDP crashed more than 30%, was a big drop from the 6.7% final Q2 GDP estimate, and the question now is how much further will subsequent revisions shrink the initial print and whether Q3 marks the low point for US GDP or will Q4 be even worse.
The deceleration in real Q3 GDP was led by a slowdown in consumer spending, which dropped to 1.6% from 12.0%, but was nonetheless a beat to expectations of an even worse, 0.9% print. Shortages, transportation bottlenecks, rising prices, the pressure to stay away from businesses have weighed on both goods and services spending. Meanwhile, investment was a positive contribution, thanks mainly to businesses restocking depleted inventories. Trade was a negative, but has been a negative for some time. Government was a marginal factor, as it has been in recent quarters. It comes down to consumers not being able to buy as much as they want, effectively, thanks to supply-chain issues. With the Atlanta Fed dropping their GDP Now tracker to just .19% it's likely we could be in for some rough times
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https://www.youtube.com/watch?v=IU_gVyc6SNM
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headline retail sales rose just 0.3% MoM (well below the +0.8% MoM expected) Core retail sales also missed (ex-autos and ex-autos-and-gas). What this means is despite the assurances from major banks this was going to be a stellar holiday shopping season the consumers didn't agree. We knew that foot traffic this black friday collapsed by more than 75% at brick and mortar retailers. but it looks like the consumers are on their last leg.
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https://www.youtube.com/watch?v=dt5pG4FNugo
We'll begin with the mass layoffs that continue to hit the headlines. This is what we have been referring to as demand shock since Disney has already restarted much of their operations and they are finding there has been a dramatic reduction in spending and leisure demand. Disney's downfall comes at a time the company has just taken out an ocean of debt and really can't afford to have this sharp of a drop in revenue. Gold is running again as gold future jump above $1,900 an ounce and though the dollar has lost some steam it seems like it was the move in US real rates that is driving the bid for bullion. It has also driven silver to outperform Gold bring the silver to gold ratio even closer to 80X. JP Morgan has also just agreed to pay a record $920 million-plus damages and the court set that amount at $300 million dollars which seems ti be nothing more than a random number. The size of the losses in precious metals entirely negates the owners of actual gold and silver which seem to have taken the largest losses. That's right if you bought into $50 silver and then lost a fortune your losses have been directly caused by the big banks and their market manipulation, yet you've not been counted or compensated. They also get to walk away from two counts of wire fraud levied against the criminal enterprise as long as they agree to monitor any future instances of manipulating the gold and silver markets. I want to know as a silver and gold investor...
Wheres my compensation?
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https://www.youtube.com/watch?v=wQLAifYorK0
Economic collapse news. Former Federal Reserve Chair Janet Yellen told a New York audience she fears there could be another financial crisis because banking regulators have seen reductions in their authority to address panics and because of the current push to deregulate. Janet Yellen said "I think things have improved, but then I think there are gigantic holes in the system," backtracking previous statements that we will not see another Financial crisis in our lifetime. We see those claims were ludicrous at the time no one could promise that. Either way we see the tune has changed to concerns that central banks have no ability to stimulate the economy anymore.
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https://www.youtube.com/watch?v=XNLfFOc2OH0
Economic collapse news. The New York Fed has a recession-probability tracker based on the average monthly spread between yields on three-month and 10-year Treasuries. The latest reading showed the chance of a recession at 23.6 percent for the 12 months through next January, the highest since the reading for the year through July 2008. Typically the Indicator does not begin to rise without a huge spike upwards shortly behind. The effects of the recent decline in retail sales is taking its toll as payless announces it will close all of their 2,100 U.S. locations this year. They are not alone as 2019 has already passed 30% of 2018's huge number. There seems to be a synchronized decline in all sectors among headlines of new records and all time highs for stocks. 2019 recession risk may lead to be the largest yet as all time highs and records tend to mark a turning point a retrace from these levels will not be pretty.
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https://www.youtube.com/watch?v=mJzYY4Sv_TI
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There are plans underway to expand a program that pays farmers to leave land fallow, part of a broader, government-wide effort to cut greenhouse gas emissions in half by 2030. The new initiative will incentivize farmers to take land out of production by raising rental rates and incentive payments.
The Conservation Reserve Program (CRP) was created in 1985 to incentivize landowners to leave some of their lands unplanted. Today, the Department of Agriculture (USDA) “rents” about 21 million acres of farmland from landowners, typically for 10 years at a time. In recent years, the number of acres enrolled in CRP has fallen, possibly because USDA’s rental payments have not been competitive with the open market.
The new announcement is a bid to incentivize farmers to enroll 4 million more acres of land in the program to total 25 million acres, the current program limit. “Sometimes the best solutions are right in front of you,” said Agriculture Secretary Tom Vilsack
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https://www.youtube.com/watch?v=NXobVsm9Y3Q
Economic collapse news November 17, 2019.
First we look at the Cass freight index and it's relentless decline. The cass freight index is a fairly accurate recession indicator. The author of the Cass freight index said he was shocked by the GDP Prints and that the index has gone negative before however economic activity has slowed dramatically and He believes the freight index reflects a deeply negative GDP as early as Q4 2019.
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https://www.youtube.com/watch?v=yNWHmkKztDw