iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
20,200 Blog Posts

CRUDE COLLAPSES, MARKETS COLLAPSE, YIELDS BLOW OUT — PANIC

Heed what I am saying to you.

IT’S OVER.

WTI is -15%
Major hotels -25%
Gold lower
10yr yields +9bps. They’ve lost control of yields.
TDG -30%
AIG -20%
PENN -37%, RIP PREZ
AL -32%
MAR -30%
BA -17%

All consumer staples and grocery stores have a bid. Think about all of the money people spend at eateries. According to Exodus, publicly trades revenues for restaurants is $100b. That money is now moving to your grocer. Stop n Shop is the new Nordstroms. There will be MASSIVE multiple expansion there.

Forget about MCO and TRU — credit scores mean nothing now. We are barreling towards another -7% trading halt.

Why?

Because this is going to be the worst depression in the history of America.

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14 comments

  1. bambam

    Maybe the most ominous post I think you’ve ever written. Coming out of this with any cash and buying .. will make a new generation of new younger millionaires! And maybe clear out some old brush.

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  2. metalleg

    Buy some physical gold/silver and get some cash from your bank. When your credit card doesn’t work at the market, you’ll need some USD on hand. I’ve been to a few banks and they are all getting hit up. One was waiting to take cash from their ATMs to fulfill my withdrawal request and another reminded me that once the money left the bank, if I lost the cash, they would no longer be responsible for it.

    $100 bills are in short supply but you’re better off with smaller denominated bills.

    Bank tellers are getting nervous.

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  3. reversion

    WOW….. this is cray talk. Stoking fear and panic is irresponsible. Japan/China are already back to normal operations. This too shall pass. Enjoy chasing the market back up.

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  4. ttotalone

    Nobody talks about that, neither Trump. But a war vs the Saudis is not to put away in the sens that the Saudis did quite a cheap shot to the US (and Canada’s producers). I am sure Trump does’t like it at all, but is too busy right now with the virus. But when things will settle down, I am afraid that it’s going to be brutal vs the Saudis…

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    • Po Pimp

      He would have to take MBS’s dick out of his ass before he did anything to SA.

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  5. gtfo

    Nice job on the stocklabs news service. Like it!

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  6. tradingnymph

    Yep, one very ugly global depression.

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  7. og

    Trump needs to stop with these press conferences. “It snuck up on us.” Freaking idiot.

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    • numbersgame

      Well… we need the daily breifings, just no in the middle of the day.

      Trump needs to STFU, and the rest of the team needs to stop contributing to market voaltility and hold their conferences at a reasonabel time, like 7pm East coast/ 4pm pacific.

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  8. timtam

    nobody in $faz! Thought you might be taking that for another spin fly!

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  9. narcist

    @pirate

    I SAID CONFEDERATE FORCES, NOT ALL WHITE PEOPLE.

    Also, the last wave of lynchings didn’t end until the 1950s.

    Mass incarceration of blacks and browns have gone from bad to pandemic since the 1950s.

    So, FUCK YOU for your willful ignorance and your stoopid Fox News version of American history.

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    • narcist

      And, no, I don’t hate the USA–I just have serious problems with people like you.

      I will love the USA even more when there are fewer of you around.

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  10. edge

    Bought some FAZ. Might hold awhile if it gets going.

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  11. numbersgame

    TVIX at $905…

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