LISTEN: PAINE in the Morning — News Scoops & Analysis for Tuesday 4.21.20

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Oil prices crash 305% to -$36.73 a barrel – U.S. oil prices plummeted in historic fashion Monday, crashing below zero as traders unloaded positions ahead of the May contract’s Tuesday expiration.

West Texas Intermediate crude oil futures for May delivery cratered by 305 percent to -$36.73 a barrel. At a price below zero, buyers would be paid to take delivery as there are costs associated with transportation and storage. The selling had WTI on track to close at its lowest level since recordkeeping began in March 1983, according to Dow Jones Market Data. – READ MORE


Government Spent Nearly $200 Billion on “Errors” Last Year – Federal agencies paid out a total $175 billion in error during fiscal 2019, roughly $24 billion more than in the previous fiscal year, according to a recently released Government Accountability Office report.

The GAO refers to the payments as “improper” and said they occur when the federal government “overpays, underpays, or makes payments to ineligible recipients.” It also includes payments made for “an ineligible good or service.” –READ MORE


Mark Zuckerberg: Lockdown Protests Are ‘Misinformation,’ Facebook Will Ban Organizers – Facebook CEO Mark Zuckerberg says that posts and pages attempting to organize protests against stay-at-home orders will be banned as “misinformation.”

The Facebook CEO confirmed that the posts would be banned to ABC’s George Stephanopoulos on a segment of Good Morning America. – READ MORE


WATCH: Trump calls FBI investigators in Russia probe ‘human scum’ – President Trump on Sunday lashed out at FBI leadership over the origins of the investigation into Russia’s election interference, calling investigators who led the probe “human scum.”

Trump made the remarks during a White House briefing after being asked about a pair of his former associates who were sentenced to prison following charges stemming from former special counsel Robert Mueller‘s investigation. – READ MORE


‘I may be homeless once this is all done’: Some Americans aren’t getting unemployment checks – Sandra Speier is among the millions of Americans who have filed for unemployment benefits in recent weeks.But, a month later, her application is still in limbo. – READ MORE


China Expert On CNN: ‘Trump Is Absolutely Right On China’, They’re Costing Us Lives (VIDEO) –  Senior Hudson Institute Fellow Dr. Nadia Schadlow praised President Donald Trump during a CNN interview on Sunday, saying “there’s no question” that Trump is “right” on China.


Dr. Schadlow, who was most recently U.S. Deputy National Security Advisor for Strategy, addressed the issue of the coronavirus outbreak that originated in China and has since devastated the world. – READ MORE


Vegas Mayor: Shutdown ‘Total Insanity,’ ‘Makes No Sense’; ‘We Must Open’ Now (VIDEO) – On Wednesday, Las Vegas Mayor Carolyn Goodman called the shutdown of the Nevada economy “total insanity,” noting that the “nonessential” business designation “makes no sense,” and that the state “must open” now.

“This shutdown has become one of total insanity,” Mayor Goodman said a city council meeting Wednesday, according to Fox 5 Vegas. “For there is no backup of data as to why we are shutdown from the start. No plan in place how to move through the shutdown or how to even come out of it.” – READ MORE


First-Time Buyers Explain Why Coronavirus Drove Them to Gun Stores in Record Numbers – Aaron Eaton learned how to shoot in the Army back in 2006 but holstered a pistol for the last time when he left in 2009 and took a job as a technician for a sewer company. That all changed on March 26 when the father of four walked out of an Alabama gun store with a Beretta 92FS, the same gun he handled as a military policeman at the height of the Iraq war.

“Simply put: I wanted peace of mind when it comes to the safety of my family,” Eaton said. – READ MORE

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