[Full video here]

Everything is beginning to collapse just as we’re hitting the peak of the bond market maturity wall. This means it’s about to get even worse as we are beginning to see the waves of bankruptcies hitting the retail sector as they have seems a rush of very large names beginning to fail but the Hotel and leisure sector is now seeing even multi-million dollar hotels failing in Manhattan Hotel rooms that used to go for around $500 a night are now hoping to find someone to book a room for $83. 

The hotel industry has been hit extremely hard so far and judging by the collapse in the CMBX series 9 BBB- which has 17% exposure to the hotel industry some are suggesting that this is the next big short. 

Defaults are on the rise whether it is the rental car companies, hotels and according to Fitch ratings the energy sector is also in hot water. loan defaults have just reached a 6 years high and used car prices have taken a huge drop due to the fleets of used cars being dumped onto the market and soon if Hertz files bankruptcy their creditors may dump the entire fleet of cars at once which could be the finishing move on car prices. The car companies were already projecting declining sales before any of this came along and the employees were fighting with the automakers over money meaning things were already on the decline.

Dozens of people have been wrongly charged by police under a new coronavirus law, the Crown Prosecution Service (CPS) has admitted. All 44 charges brought under the Coronavirus Act, which allows officers to remove or detain a "suspected infectious person" for screening and assessment, since it was brought in on March 27 were incorrect. [Read more]

Lynnette Zang joins SGT Report to discuss the monetary and fiscal black hole we just entered and from which there is no escape.

Although the questionable means by which the General Standards For Irradiated Food was ratified are enough cause for concern in and of themselves, the revision of Codex’s position presents an even bigger danger to the food supply than the original version.  This revised policy seems to be part of an ongoing disregard by federal agencies who are charged with protecting the public. [Read more]