Three years ago, Toys R Us was taken private; its balance sheet expanded to $5 billion; exorbitant fees paid to Bain Capital and KKR, and now they’ve played themselves into liquidation. An American icon will soon be discarded to the shit-heap of history — potentially wiping out 33,000 jobs in the process. Moreover, as the liquidation commences, an ocean of available square footage will become available — square footage that only Dick’s and Best Buy could absorb — but they’re not interested in that shit anymore.
Dow futures are indicating +100, in spite of MUH trade war worries. The media are such fucking faggots trying to stir up emotions with this trade war narrative. Remember, we own China, not the other way around, because we’re their primary market and they have a lot of their cash reserves tied up in our treasuries. Never forget that.
Gold is -0.4%, Oil +0.6% and Bitcoins have recovered a bit from last night’s sub $8,000 blood bath, currently trading at $8,200.
Trump said this, regarding S. Korea.
“We lose money on trade, and we lose money on the military. We have right now 32,000 soldiers between North and South Korea. Let’s see what happens.”
What!?
And he also said this, according to audio obtained by Wapo.
“Trudeau came to see me. He’s a good guy, Justin. He said, ‘No, no, we have no trade deficit with you, we have none. Donald, please,’ ” Trump said, mimicking Trudeau, according to audio of the private event in Missouri obtained by The Washington Post. “Nice guy, good-looking guy, comes in — ‘Donald, we have no trade deficit.’ He’s very proud because everybody else, you know, we’re getting killed.
“ … So, he’s proud. I said, ‘Wrong, Justin, you do.’ I didn’t even know. … I had no idea. I just said, ‘You’re wrong.’ You know why? Because we’re so stupid. … And I thought they were smart. I said, ‘You’re wrong, Justin.’ He said, ‘Nope, we have no trade deficit.’ I said, ‘Well, in that case, I feel differently,’ I said, ‘but I don’t believe it.’ I sent one of our guys out, his guy, my guy, they went out, I said, ‘Check, because I can’t believe it.’
‘Well, sir, you’re actually right. We have no deficit, but that doesn’t include energy and timber. … And when you do, we lose $17 billion a year.’ It’s incredible.”
Double what!?
Here are other headlines.
Lam Research initiated with a Outperform at FBN Securities; tgt $300
Signet Jewelers target lowered to $44 at Telsey Advisory Group as transformation plans weigh on earnings and visibility
Amber Road: E2open (EOPN) affirms proposal to acquire AMBR for $10.50/share
e.l.f. Beauty downgraded to Underweight at Morgan Stanley
SLDB -57.4% (receives notification from the FDA that IGNITE DMD, its Phase I/II clinical trial for SGT-001 microdystrophin gene transfer in Duchenne muscular dystrophy, has been placed on Clinical Hold)
Qorvo downgraded to Underperform from Neutral at BofA/Merrill
Trump transcripts read like fever dreams
This was reported as “Trump lies to Canadain Prime Minister.” Technically, he did lie, because he said something that he didn’t know. Of course, it actually turned out not to be a lie
Either way, this is a much different lie than deliberately misleading people such as wehn he tells his supporters that he is willing to raise his tax bill to make tax laws more fair, or the even bigger lie that the tax bill as passed will raise his taxes.
China also owns a lot of physical gold which is their insurance. And the “cash”, a/k/a debt, China owns and is tied up in the form of TSY? That’s called nuclear option. If China dumps that debt, amerika might as well be hit by 1000’s of ICBM’s.
I would like to say: while it must be nice to be a 10-yo with a smartphone, future generations will miss out on the joy of going to a giant store full of toys. It is nowhere the same expereicne as ordering something on Amazon.
RIP TRU
FU KKR and Bain