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Our Two New George Floyds Received Stealth Reparations Too

Portfolio Armor's Photo
by Portfolio Armor
Friday, Apr 12, 2024 - 0:27
African Americans celebrating on vacation and eating crab legs.

Remember America's Stealth Reparations?

In a post earlier this year ("America's Stealth Reparations"), we shared a remarkable thread by "Confirmed Miscer" on X about the COVID-era Payroll Protection Program:

Reparations Already Happened

As we enter Black History Month, we can expect further calls for reparations by the U.S. government to African Americans, but as an extraordinary thread on X this week detailed, we already had reparations for enterprising African Americans during COVID. Many created seemingly fake businesses to get payroll protection loans, nearly all of which apparently were subsequently forgiven. 

The New George Floyds

It turns out that the adoption of this stealth reparations program must have been even bigger than we thought. Consider the latest two black deaths at the hands of police that the media are trying to turn into new George Floyds in this election year, Dexter Reed, who was killed after opening fire on police during a traffic stop in Chicago, 

And Kenneth Knotts, who died after struggling with hospital police during a mental health evaluation in Dallas two years ago (this story hit the news this week because the video footage of the incident was just released). 

"Confirmed Miscer" returns to show that both of these men received PPP cash: Knotts for nanotechnology research...

And Reed for "All other support activities for transportation". 

What are the odds? 

In Case You Missed It

In a post earlier Thursday ("Stocks To Crash By 50%?"), we wrote about how although we are long a gold miner (Orla Mining, Ltd (ORLA), which was up 28.92% YTD, as of Thursday's close), gold will not protect you in a market crash. 

So You Don't Miss It

On Thursday night, we are going to post posted our top ten names for this week on our Trading Substack. Th0se are the stocks our system estimates will perform best over the next six months. Here's how our last top ten names cohort to finish its six-month run did, versus SPY. On average our top ten names from October 5th were up 61.35% over the next six months, versus up 22.62% for SPY. 

 

If you want to stay in touch.

 

You can scan for optimal hedges for individual securities, find our current top ten names, and create hedged portfolios on our website. You can also follow Portfolio Armor on X here, or become a free subscriber to our trading Substack using the link below (we're using that for our occasional emails now).

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