Tag: Wall Street


Wall St enjoys best week since 1974, despite surging unemployment and OPEC oil supply cut


Australia

Unemployment claims in the United States have skyrocketed again, while the Federal Reserve has injected $3.6 trillion worth of additional stimulus to minimise the economic fallout of COVID-19.

The Australian dollar jumped to a one-month high of 63.4 US cents this morning as the record Fed stimulus weakened the greenback.

Meanwhile, Saudi Arabia, Russia and the world’s biggest oil producers have struck a deal to cut production by a record amount (10 million barrels per day), but that was not enough to prevent a further slump in oil prices.

Market snapshot at 8:00am (AEDT):

  • ASX SPI futures +0.8pc at 5,442, ASX 200 (Thursday’s close) +3.5pc at 5,387
  • AUD: 63.3 US cents, 50.8 British pence, 57.9 Euro cents, 68.64 Japanese yen, $NZ1.04
  • US: Dow Jones +1.2pc at 23,719, S&P 500 +1.5pc at 2,790, Nasdaq +0.8pc at 8,154
  • Europe: FTSE 100 +2.9pc at 5,843, DAX +2.2pc at 10,565, CAC +1.4pc at 4,507, Euro Stoxx 50 +1.5pc at 2,893
  • Commodities: Brent crude -2.4pc at $US32.03/barrel, spot gold +2.3pc at $US1,683.82/ounce

The Australian share market is closed for the Easter long weekend, but might enjoy solid gains when it reopens next Tuesday.

It may follow a strong lead from Wall Street’s benchmark index (the S&P 500), which surged by 12 per cent this week — its biggest weekly gain since 1974.

Overnight, the S&P index added 1.5 per cent to close at 2,790 points.

The industrial-skewed Dow Jones index lifted by 286 points (or 1.2 per cent) to 23,719, while the tech-heavy Nasdaq rose 0.8 per cent to 8,154.

European markets also jumped. London’s FTSE and Germany’s DAX were up by 2.8 and 2.2 per cent respectively.

The spot price of gold also surged to a one-month high, around $US1,684 an ounce.

Global markets were propped up by hope the number of new coronavirus cases was slowing down and the latest announcement from the US central bank on further stimulus being pumped into the system.

Fed pushes deeper into uncharted territory

The Fed said it would allocate a massive $US2.3 trillion ($3.6 trillion) to further shield the US economy from the economic damage from coronavirus.

Rate cuts can’t cure COVID-19
Reserve Bank interest rate cuts will do little to keep Australia out of a deep recession if coronavirus becomes a severe pandemic, but there are some unconventional policies that could help save the economy.

It had already cut interest rates to almost zero and re-launched its quantitative easing program in March, pledging to buy an unlimited number of bonds.

Under its latest stimulus measures, the Fed will offer four-year loans, through the banks, to struggling American businesses.

This new “Main Street” facility will funnel up to $US600 billion in loans (of at least $US1 million) to companies that have up to 10,000 employees or less than $US2.5 billion in revenue.

Firms receiving the loans “must commit to make reasonable efforts to maintain payroll and retain workers” and not use the funds to refinance existing debt.

The central bank will also spend up to $US500 billion purchasing municipal bonds from local governments, which are on the front lines of the health crisis and are also facing a possible collapse in their tax revenue as unemployment spikes and businesses shut under tough social-distancing rules.

Many of these programs are due to lapse in September, but Fed chair Jerome Powell said the Fed would spend whatever it takes to get the pandemic under control and get the economy back on track.

“We are deploying these lending powers to an unprecedented extent,” Mr Powell said.

“We will continue to use these powers forcefully, proactively, and aggressively until we are confident that we are solidly on the road to recovery.”

Surging unemployment

It was enough to make investors ignore the bad news — that 6.6 million Americans applied for unemployment insurance claims last week, according to figures released by the US Labor Department.

That brought the total to 16.8 million people who had lost their jobs in the past three weeks.

Coronavirus recession?
The economic fallout globally from the coronavirus will be far worse than SARS now that China is so critical to the global, and especially Australian, economy, writes Ian Verrender.

The record number of applications for unemployment benefits are the result of businesses such as restaurants, bars and other social venues being closed.

“In its first month alone, the coronavirus crisis is poised to exceed any comparison to the [2008] Great Recession,” said Daniel Zhao, senior economist at Glassdoor, an online recruitment firm.

“The new normal for unemployment insurance claims will be the canary in the coal mine for how long effects of the crisis will linger for the millions of newly unemployed Americans.”

OPEC strikes record oil deal

The Organisation of Petroleum Exporting Countries (OPEC) and its allies agreed on Thursday to cut oil output by a record 10 million barrels per day (or 10 per cent of global supplies) for two months.

All members will reduce their output by 23 per cent, with Saudi Arabia and Russia each cutting 2.5 million bpd and Iraq cutting over 1 million bpd.

But the price of Brent crude tumbled by 2.5 per cent to $US32 a barrel. Its value has plummeted by half since the year began.

Investors are worried these supply cuts still won’t be enough to combat the unprecedented plunge in oil demand caused by the coronavirus pandemic.

Coronavirus questions answered
Breaking down the latest news and research to understand how the world is living through an epidemic, this is the ABC’s Coronacast podcast.

OPEC+, which includes non-members like Russia, is also expecting the US and other producers to join in its effort to cut production (by 5 million bpd) and prop up prices to help deal with the deepest oil crisis in decades.

Global fuel demand has plunged by around 30 million bpd (or 30pc of global supplies) as steps to fight the virus have grounded planes, cut vehicle usage and curbed economic activity.

If an unprecedented 15 million bpd cut were to happen, it would not be enough to stop the world’s storage facilities quickly filling up.

And far from signalling any readiness to offer support, US President Donald Trump has threatened OPEC member Saudi Arabia, saying it could face sanctions and tariffs if it does not cut supply enough to help the struggling US oil industry.

“We are expecting other producers outside the OPEC+ club to join the measures, which might happen tomorrow during G20,” the head of Russia’s wealth fund (and one of Moscow’s top oil negotiators), Kirill Dmitriev, told Reuters.

On Friday Saudi Arabia will host a call between energy ministers from the Group of 20 major economies.

Source: https://www.abc.net.au/news


In a health, economic and electoral quandary, Trump backflips on coronavirus again


United States

If a week is a long time in politics, it’s an eternity during a pandemic.

Last week, this column described Donald Trump as a changed man: factual, decisive, upfront.

It seems the transformation was temporary.

This week, the UK Prime Minister Boris Johnson turned the health policy equivalent of the Titanic around.

Coronavirus update: Follow all the latest news in our daily wrap

He ordered his nation to hide in their homes after his advisers initially suggested “herd immunity” would see them through.

Over the same short period of time, Mr Trump was doing his second U-turn in as many weeks.

He suggested Americans could be set free and attending “packed churches all over the country” on Easter Sunday.

External Link:

@TVNewsHQ Watch: President @realDonaldTrump tells Fox News Town Hall he would “love to have the country back up and running by Easter.”

Indeed, on the very day the World Health Organisation warned America it could soon become the global epicentre of the pandemic, Mr Trump pushed for the US economy to be “opened up and raring to go” in just over two weeks.

“Our people are full of vim and vigour and energy,” he told Fox News viewers.

“They don’t want to be locked into a house or an apartment or some space. It’s not for our country. We’re not built that way.”

Larry Brilliant, a veteran of the eradication of smallpox, told the New York Times ending the lockdown so early would be “an error of epic proportions”.

External Link:

@stuartathompson Trump wants everyone mingling by Easter.

Modelling suggests a nationwide lifting of restrictions by Easter would see 118 million Americans infected by October, resulting in more than 1.2 million dead.

That doesn’t take into account the complete breakdown of the health system that would occur, increasing the mortality rate substantially.

Stay up-to-date on the coronavirus outbreak

Mr Trump insists the health of American citizens is forefront in his mind.



Photo:

While Mr Trump says he wants packed churches by Easter, most priests are sticking to drive-through confessions for the foreseeable future. (Reuters: Tom Brenner)

And his own White House advisers have watered down the suggestion of a nationwide lifting of restrictions.

Instead they’re suggesting it could be possible in pockets where infection rates are low — and only if much better data becomes available through widespread testing.

But the President has fallen back on misleading comparisons with the flu and fatal car crashes.

External Link:

@realDonaldTrump The LameStream Media is the dominant force in trying to get me to keep our Country closed

It seems keeping Americans alive during the most dangerous pandemic in a century isn’t the only thing Donald Trump has to consider.

Coronavirus has become a partisan issue

A national Gallop poll last week showed 73 per cent of Democrats feared exposure to the coronavirus, compared with just 42 per cent of Republicans — a whopping 31 per cent difference.

That could be partly attributed to the misinformation initially pedalled by Fox News, which leans heavily toward the Republican side of politics.

But it probably has more to do with geography.



Photo:

A locked-down playground in Washington, one of the US states hardest hit by the pandemic. (Reuters: Lindsey Wasson)

The early stages of the outbreak have had a much heavier impact in Democrat-leaning states like New York, Washington and California.

As the Atlantic points out, Republican-leaning states have displayed noticeably less urgency about the outbreak because most of them haven’t been seriously impacted … yet.

Coronavirus questions answered
Breaking down the latest news and research to understand how the world is living through an epidemic, this is the ABC’s Coronacast podcast.

Republican governors and members of Congress have been urging the President to put the economy first.

“We don’t shut down our economy because tens of thousands of people die on the highways,” said Republican senator Ron Johnson.

“Getting coronavirus is not a death sentence except for maybe no more than 3.4 per cent of our population [and] I think probably far less.”

Three-point-four per cent of America’s population is 11 million people.

Despite his apparent willingness to accept those deaths, the Senator is right about one thing: the impact on the economy can’t be ignored.

Americans are facing economic peril

In the past fortnight, unemployment insurance claims in the United States have jumped 1,500 per cent.

That’s not a typo.

External Link:

@MattGarrahan Thirty years of unemployment claims in the US

More than 3 million Americans filed new unemployment claims last week.

That’s nearly five times the highest level of claims seen during the global financial crisis of 2007.

As the world fixates on Wall Street’s daily convulsions, the broader economy of the richest and most powerful nation on Earth is crumbling before our eyes.

Your questions on coronavirus answered:

It’s a prelude of what might be coming for Australia, which has been about 10 days behind America in terms of city-wide shutdowns, according to data from mobility apps like Citymapper.

The instantaneous loss of income is frightening for anyone and especially so in a nation where around half of American families claim to be living paycheque to paycheque.



Photo:

With schools closed, students who rely on free lunches are now relying on donations from teachers and volunteers for meals. (Reuters: Kevin Lamarque)

The US Senate has now passed the biggest economic rescue package in history.

Worth $US2.2 trillion ($3.6 trillion), it’s worth half the entire annual budget of the United States and about 10 per cent of America’s annual entire economic output.

And here’s the thing: it’s not aimed at stimulating growth.

Mailing $4,000 cheques to millions of families and significantly boosting existing unemployment benefits is primarily aimed at staving off homelessness and hunger.

Anger too.

What the experts are saying about coronavirus:

The unprecedented support for business large and small, had to come with something for workers and the unemployed.

Bailouts for business but not workers in the wake of the 2007 global financial crisis helped give rise to the Tea Party on the right, which fell in behind Trump.

It also inspired the occupy Wall Street movement, which helped bolster support for Democratic presidential hopeful Bernie Sanders.

That seething anger remains in the hearts of millions of Americans.



Photo:

Republican senator Richard Burr dumped stocks in hospitality businesses while receiving private coronavirus briefings. (Reuters: Jonathan Ernst)

And it can’t have been soothed by news that Republican senator Richard Burr, head of the Senate Intelligence Committee, dumped up to $US1.72 million in stocks in mid-February, while receiving daily briefings about the coronavirus threat.

External Link:

@SenatorBurr My statement in response to reports about recent financial disclosures:

He’d previously expressed confidence in the country’s preparedness for a COVID-19 outbreak.

The President has the power to foment or contain unrest

Standing in the corner of the Oval Office, there’s an elephant armed with an AR-15.

The threat of a social unrest is very real in the minds of American policy makers and police chiefs.

An angry nation, heavily armed and cooped up through summer without income, is a dangerous proposition if there’s any real sense of scarcity on the streets.

Look what happened in New Orleans in the days after Hurricane Katrina when a slow emergency response left thousands trapped with little food or water.



Photo:

The slow response to the humanitarian disaster unfolding in New Orleans in 2005 caused tension between locals and authorities. (Reuters: Jason Reed)

Now the entire state of Louisiana is facing a new and potentially more serious disaster, recording per-capita the third highest rates of COVID-19 infection in the country, behind New York and Washington state.

In Louisiana, poverty is rife, the quality of healthcare is among the worst in America and levels of immune-compromising HIV are high.

Nationwide, the fear of looting, or worse, must be forefront in the minds of the President’s security advisers as they watch lines at gun shops stretch around the block and businesses boarding up their shopfronts.



Photo:

Gun shops in the US have reported a boom in sales as panic spreads over the coronavirus pandemic. (Reuters: Patrick Fallon)

Perhaps that’s why members of Congress started discussing the next economic rescue package even before this week’s record-breaking stimulus was out the door.

And perhaps that’s part of the reason the US President insists the coronavirus cure, involving months of social distancing accompanied by economic collapse, can’t be allowed to be worse than the problem itself.


Video: Scott Morrison announces moves to reduce public gatherings to no more than two people

(ABC News)

Source: https://www.abc.net.au/news


ASX trades higher as Wall St recovers from coronavirus sell-off


Australia

Australian shares have edged moderately higher, after bargain-hunting investors shrugged off coronavirus worries to drive a strong Wall Street recovery.

Market snapshot at 8:05am (AEDT):

  • ASX SPI futures flat at 6,856, ASX 200 (Monday’s close) -1.3pc at 6,923
  • AUD: 66.9 US cents, 51.48 British pence, 60.48 Euro cents, 72.71 Japanese yen, $NZ1.035
  • US: Dow Jones +0.5pc at 28,400, S&P 500 +0.7pc at 3,249, Nasdaq +1.3pc at 9,273
  • Europe: FTSE 100 +0.6pc at 7,326, DAX +0.5pc at 13,045, CAC +0.5pc at 5,833, Euro Stoxx 50 +0.6pc at 3,662
  • Commodities: Brent crude -4.2pc at $US54.24/barrel, spot gold -0.9pc at $US1,576.32/ounce, iron ore -5.4pc at $US80.38/tonne

By 2:15pm (AEDT), the ASX 200 index had risen by 0.5 per cent to 6,956 points.

It came after the local bourse experienced its second-worst trading day since the year began.

The worst performing stocks included Origin Energy (-3.4pc), Oil Search (-2pc) and Cooper Energy (-1.4pc) as utilities and energy stocks were hit hard by tumbling oil prices.

Consumer stocks were among the best performers including Harvey Norman (+7.3pc), JB Hi-Fi (+5pc) and Webjet (+3.2pc).

Meanwhile, the Australian dollar was steady at 66.9 US cents, which is near an 11-year low.

Buying the dip

Global markets fell sharply last week over worries about the rapidly spreading coronavirus and its impact on the world economy.

However, those concerns were not evident on US markets overnight.

‘Global health emergency’
The WHO has declared the coronavirus outbreak a public health emergency — here’s what that means.

The Dow Jones index closed 144 points (or 0.5pc) higher at 28,400 points. But the industrial-skewed index has some way to go before recovering from its 600-point drop last Friday.

The benchmark S&P 500 and tech-heavy Nasdaq indices lifted by 0.7 and 1.3 per cent respectively.

“Traders are looking for value where they can,” said Karl Schamotta, chief market strategist at Cambridge Global Payments in Toronto.

“A large part of what we’re seeing in the market today is bargain-hunting in anticipation of a return to stimulus from the Chinese Government.”

Helping the mood on US markets was a decision by China’s central bank to inject 1.2 trillion yuan ($260 billion) of liquidity into its market via reverse repurchasing agreements.

But the Shanghai Composite nonetheless plunged by 7.7 per cent (or $628 billion) yesterday — its first day of trading since China closed equity, currency and bond markets on January 23 for the Lunar New Year, a holiday that was extended because of coronavirus.

Wall Street also recovered thanks to surging technology share prices and a surprise rebound in US factory activity.

Manufacturing expanded in January after five straight months of contraction, according to figures from the Institute of Supply Management, indicating that a slump in business investment may have bottomed out.

The ISM said its index of national factory activity increased to a reading of 50.9 last month, the highest level since July. A reading above 50 indicates expansion in the manufacturing sector.

A rebound in business investment is critical to keeping the longest US economic expansion in history, now in its 11th year, on track amid signs of fatigue in consumer spending

Commodities slump

Spot gold slipped 0.8 per cent to $US1,576.16 an ounce, following a strong performance in January.

From Wuhan to Australia
The deadly coronavirus is spreading across the globe, with no end in sight — here is a timeline of key events so far and what to expect next.

“Gold prices slipped as a stronger US dollar and higher equity markets saw investor appetite wane,” ANZ analyst Rahul Khare said.

“There are fears that physical demand is also being impacted by the virus, with retail coin and jewellery demand most certainly taking.”

Iron ore prices also slumped 8.3 per cent to $US80.38 per tonne.

“Fears remains that [Chinese] construction activity will be severely impacted as provinces extend holidays and travel restrictions remain in place,” Mr Khare said.

In addition, oil prices fell sharply to a 13-month low as the coronavirus outbreak curtailed Chinese demand, which may spark potential supply cuts by the Organisation of the Petroleum Exporting Countries (OPEC) and its allies.

Brent crude lost 4 per cent to $US54.35 per barrel.

Oil has also dipped into bear-market territory, having dropped by more than 20 per cent from recent highs.

Independent refineries in China’s Shandong province, which collectively import about a fifth of the nation’s crude, cut output by 30 to 50 per cent in a little more than a week, executives and analysts told Reuters.

ABC/Reuters

Source: https://www.abc.net.au/news


Global markets rally as US-Iran conflict avoids escalation, ASX follows


Australia

Global markets have rallied overnight, as fears of further escalation in the US-Iran conflict subsided for now. Wall Street rose and the Australian share market followed that positive lead.

Key points:

  • The ASX 200 closed 0.8 per cent higher at 6,874
  • Most major banks and mining stocks rose
  • The energy sector and gold miners lost ground

At the close of trade, the benchmark ASX 200 index was 0.8 per cent higher at 6,874.

Most blue chip stocks — such as three of the big four banks, BHP and Telstra — rose, while energy stocks lagged following a retreat in oil prices, with Brent crude falling as much as 4 per cent overnight.

During Australian and Asian trade yesterday, US stock market futures fell sharply, as Iran launched missile strikes on Iraqi bases housing US troops.

Stocks across the region fell, before recovering some of the losses after US President Donald Trump did not deliver an immediate response and tweeted “all is well”.

US futures recovered and Wall Street rose strongly during the session, with the S&P 500 and the Nasdaq hitting fresh record highs, before paring gains into the close.

Market snapshot at 8:20am (AEDT):

  • ASX SPI futures +0.7pc at 6,798, ASX 200 (Wednesday’s close) -0.1pc at 6,817
  • AUD: 68.70 US cents, 52.45 British pence, 61.84 Euro cents, 74.98 Japanese yen, $NZ1.03
  • US: Dow Jones +0.6pc at 28,745, S&P 500 +0.5pc at 3,253, Nasdaq +0.7pc at 9,129
  • Europe: FTSE 100 flat at 7,574, DAX +0.7pc at 13,320, CAC +0.3pc at 6,031, Euro Stoxx 50 +0.1pc at 3,424
  • Commodities: Brent crude -3pc at $US66.20/barrel, spot gold -1.1pc at $US1,556.35/ounce

Shares in Boeing lost more than 1 per cent, after one of its planes crashed shortly after take-off from Tehran, killing all 176 people on board.

In European trade, stocks rebounded from early losses.

Airlines reroute flights in Middle East

The oil price pullback will be good news for the fuel costs of global airlines, if it lasts, however, higher fuel bills may still be in store.

Qantas, along with international airlines including Germany’s Lufthansa, Air France, Singapore Airlines and Malaysia Airlines have rerouted flights to avoid airspace over Iran and Iraq, due to the tensions with the US.

Airline analysts have told Reuters the longer journey times will increase fuel usage, throw off schedules and add to operating costs.

On Wednesday, Qantas said its Perth to London flight would have an increased flying time of 40 to 50 minutes due to its redirected flight path, and passenger numbers would need to be reduced in order to carry more fuel.

Source: https://www.abc.net.au/news


Trade deal between US and China could be signed next week


China

The Christmas rally on Wall Street has fizzled out despite the US and China edging closer to the formal signing of an initial trade deal as soon as next week.

Key points:

  • Protection of intellectual property, forced technology transfers and currency manipulation are at the heart of the deal
  • But the agreement is still being checked over “so both versions match”
  • The confirmation of the trade pact’s signing will come from Mr Trump, a White House aide said

The South China Morning Post reported that Chinese Vice-Premier Liu He will arrive in Washington this week to sign the trade agreement.

White House trade adviser Peter Navarro said a trade pact was likely to be signed next week.

But he said confirmation would come from US President Donald Trump.

Mr Navarro said the 86-page agreement was still being translated and included clauses on protection of intellectual property, forced technology transfers and currency manipulation.

“Basically you need to get it translated into the Chinese and double checked so both versions match,” he told Fox News.

These are key issues for the US, which led Mr Trump to impose tariffs on hundreds of billions of dollars worth of Chinese imports and which saw Beijing retaliate.



Photo:

Mr Trump imposed tariffs on Chinese imports, prompting retaliation from Beijing. (Reuters: Kevin Lamarque)

In economic news, the US trade deficit narrowed to the lowest since 2016 in November.

The gap between imports and exports dropped by $US3.6 billion to $US63.2 billion.

Imports fell but exports rose.

US stocks fell from record highs on the second last trading day of the year.

The Dow Jones index lost 0.6 per cent, or 183 points, to 28,462.

Trump’s trade wars The US-China trade war has been dominating headlines, but Beijing is not the only trading partner in President Donald Trump’s crosshairs.

The S&P 500 dropped 0.6 per cent as well, to 3,221.

And the Nasdaq fell below 9,000 and lost 0.7 per cent

In London, the FTSE 100 index fell 0.76 per cent to 7,587 as investors took profits.

Spot gold is higher at nearly $US1,515 an ounce as global economic concerns continued.

Brent crude rose to $US68.40 a barrel, boosted by optimism over a US-China trade deal.

The ASX SPI 200 index is down nearly 1 per cent to 6,677, which indicates a fall on the share market today.

And the Australian dollar has gained 0.3 per cent to nearly $0.70 on a lower greenback.



Photo:

The Christmas rally on Wall Street fizzled out as 2019 drew to a close. (Reuters: Brendan McDermid)

Source: https://www.abc.net.au/news


Jidenna – Worth the Weight Lyrics


Play this song

[Intro]
People, confusion going on
Why don’t we just learn how to live with one another?
It’s not really impossible, why do we have to make it so hard?
With so much pollution and erasion, why? Why?
If we can learn how to live with one another, then we can learn who is going to take the weight?
Wait, I think that you’ll find it
Wait, wait, I think that you’ll find it
Wait, wait, I think that you’ll find it

[Verse 1]
Yeah, yeah
I go for the record, I don’t just go for the medals, bro
Niggas used to know that we stronger than the devil, bro
Since I buried Papa in the village with the shovel, bro
Every move is bold, ain’t no time for bein’ subtle, bro
In the face of evil, I can find the needle, haystack
Could have freed my people if this weed was legal way back
Popo spun the wheel on misfortune, but I ain’t play that
They come round and pat-pat-pat us down but I ain’t say jack
I escaped the trap, I escaped the cubicles, bro
I escaped the drive by’s, drop the funerals, bro
And I beat the case, and I beat the chase, woah woah
Can I keep the pace? Can I keep the pace ? I’on know
I escaped them tryna bleach a nigga’s brain
Coulda went to Wall Street, instead I built up my own lane
Rather have a street in my own name
Or money with my face on it like I’m Prince Arcane

[Refrain]
You not gon’ see me frowning in these days and times, you see, the days of the Oyinbo man are numbered like football Jerseys
We all know that all of our suffering and smiling has been worth the wait!

[Verse 2]
My nigga, who knew?
Who knew that that boy from Enugu with the booboo on his knee (Knee)
Back then was actin’ like a poodle on a leash (Leash)
One day he’d have to learn the juju on the streets (Streets)
Starin’ at death, like, is your shooters gonna squeeze? (Squeeze)
Freeze, please
As a little boy slanging chains back in Chinatown
Thinkin’ to myself, I’ma build a block at [?] town wit’ my, wit’ my, wealth
And I pray that I’m the brightest sound that you ever felt
I’ma take a million flights around, ’til that shit is felt
That’s that lead the way, ayy
That’s no piece of cake, ayy
That’s that troll online that live inside the tree all day, ayy
That’s that he so gay, ayy
That’s that she so fake, ayy
That’s that insecure, ayy
That’s that Issa Rae, ayy
Hey
You do you, me do me
So long as you don’t fuss wit’ we (We, baby)

[Outro]
I believe it’s time for an African peoples powered highway. A highway that will connect the Diaspora and Motherland. A global highway for African people all over the world to rediscover themselves. To remember that the only thing that unites black people, globally, the only thing we all have in common is that we are from Africa


Curren$y – Game On Freeze Lyrics


[Verse 1]
Mo’ paper, mo’ haters, that’s a known fact
That’s why some niggas get on
They leave their town they never come back
I never done that
I understand that position cause stardom make you a target
They starving in my city
But I’m sliding in that Wraith, angel on the hood
I made it on by God’s grace, no enemies made it through
Getting high behind them gates
Bout to install a fountain in the living room
I’m higher than the moon

[Chorus]
Niggas tryna put my game on freeze
Small thing to a giant, it’s nothing to me
I’m high beneath these palm trees
Bout to take over Wall Street
Niggas tryna put your game on freeze
Haters tryna put your game on freeze
Bitches tryna put the game on freeze
Small thing to a giant, it’s nothing to me
Niggas tryna put your game on freeze

[Verse 2]
New studio built, fully equipped
I’m up in here round the clock wrapping bricks
Me and Rich on the quest like Johnny and Hadji
Coupe Maserati, cop that for my downest mami’s
You never see me drive it
Ferrari shorty but I’m always low riding
Bitches like to see G’s hit switches
My life is exciting, my life is enticing
Feds building [?] and files about me
But I’m straight you know my paper got me

[Chorus]
Haters tryna put your game on freeze
Niggas tryna put your game on freeze
Haters tryna put your game on freeze
Bitches tryna put the game on freeze
Jet Life, Jet Life
Jet Life, nigga yea
Jet Life


Talib Kweli & Styles P – In The Field (The Seven Album)


[Intro: Malcolm X]
There was two kind of slaves, there was the house negro and the field negro, the house negro they lived in the house, with master
The house negro if master said we got a good house here the house negro said "yeah we got a good house here" whenever the master said we you said we that’s how you can tell a house negro if the master got sick the house negro will say "whats the matter boss, we sick?" We sick!?!
That was that house negro in those days he was called a house nigga and that’s what we call them today cause we still got some house niggas running around here

[Verse 1: Styles P]
Yeah it’s black on black crime but it’s blue on black crime
Police killin’ the brown man and doing no time
The judge is a Nazi, but he ain’t in the Klan
The jail’s the plantation they spread it across the land
I’m thinkin’ what will that change?
If big industry money pays for campaigns (think about it)
I know the 1 percenters lovin’ that the gov run the people
But people should run the government
The day of reckonin’ is when the sleep wakes up
And the 99 percenters can really cake up
I ain’t go to Harvard or Yale, I went to jail
But hold a horse that’s pale, and the slave ship sails
It ain’t on water, but I know who’s steerin’ it
The reptilians hid the truth about the pyramids, damn
My genetics is kinetic, the devil is a lie
His agenda is pathetic

[Hook: Styles P & Talib Kweli]
I ain’t no house nigga, I be in the field, I be in the field, I be in the field
But I ain’t a slave, I’m a king and that’s real
I be in the field, I be in the field (house nigga)
I ain’t no house nigga, I be in the field, I be in the field, I be in the field
If we ain’t got freedom, we ain’t got free will
I be in the field, I be in the field

[Verse 2: Talib Kweli]
Yeah there’s black on black crime
But there’s white on white crime
When you adjust for population all the numbers they align
So why we never hear white on white on the nightly news?
Ain’t no profitin’ over criminalizin’ white dudes
Poverty breeds criminals but watch what you call me
Because if I’m a criminal what about bankers on Wall Street?
Or the fast food industry that be feeding us horse meat?
Been this way since in the fields picking sugar or coffee nigga
I ain’t no house nigga, I be in the field
Probably with the steel now they got me on the wheel
With the ghost, too confident to be cocky to keep it real
We veto that phony shit and block it like a bill
Whether Bobby by the pound, or Whitney by the ki
We movin’ weight it’s a mistake to get money and make it free
They’ll lock up Jesus when they see wooly hair and burnt feet
If you a felon you a slave, remember the thirteenth, nigga

[Hook: Styles P & Talib Kweli]
I ain’t no house nigga, I be in the field, I be in the field, I be in the field
But I ain’t a slave, I’m a king and that’s real
I be in the field, I be in the field (house nigga)
I ain’t no house nigga, I be in the field, I be in the field, I be in the field
If we ain’t got freedom, we ain’t got free will
I be in the field, I be in the field

[Verse 3: Styles P]
I thought Barack could have been a spook who sat by the door
But he signed a dark act middle finger to the law
Now I gotta get a foreign plan to eat raw
But I wouldn’t be surprised if they killed me on tour
Life is a bitch, America is a whore
Get sick and try to see this little picture I draw
You can have a gun but need bullets to go to war
You already half-dead from the food that’s in the stores

[Verse 4: Talib Kweli]
Ghost these rappers ain’t better tellin’ tales so tall
A whole industry of employees pretendin’ that they the boss
Niggas that you thought was official is fallin’ off
Shit ain’t been the same since the ’95 Source
Every breath that we take is a threat, they pissed off
If we alive we get put in the system and get lost
My mother scared for us, prepared for the loss
But sayin’ shit like if you die make sure you got on clean drawers

[Hook]
I ain’t no house nigga, I be in the field, I be in the field, I be in the field
But I ain’t a slave, I’m a king and that’s real
I be in the field, I be in the field (house nigga)
I ain’t no house nigga, I be in the field, I be in the field, I be in the field
If we ain’t got freedom, we ain’t got free will
I be in the field, I be in the field

[Outro: Malcolm X]
I’m a field negro, just as the slave master of that day used Tom, the house negro, to keep the field negroes in check the same old slave master today has negroes who are nothing but modern Uncle Tom’s to keep you and me in check, keep us passive and peaceful
It’s like when you go to the dentist and the man is gon’ take your tooth. you gon’ bite him when he start pulling, so they squirt some stuff in your jaw called Novocaine to make you think they not doing anything to you. So you sit there and cause you got all that Novocaine in your jaw you suffer, peacefully


Kendrick Lamar – XXX Lyrics


[Intro: Bono & Kid Capri]
America, God bless you if it’s good to you
America please take my hand
Can you help me underst—
New Kung Fu Kenny

[Verse 1: Kendrick Lamar]
Throw a steak off the yacht
To a pool full of sharks, he’ll take it
Leave him in the wilderness
With a sworn nemesis, he’ll make it
Take the gratitude from him
I bet he’ll show you somethin’, whoa
I’ll chip a nigga little bit of nothin’
I’ll chip a nigga little bit of nothin’
I’ll chip a nigga little bit of nothin’
I’ll chip a nigga, then throw the blower in his lap
Walk myself to the court like, “Bitch, I did that!”
X-rated
Johnny don’t wanna go to school no mo’, no mo’
Johnny said books ain’t cool no mo’ (no mo’)
Johnny wanna be a rapper like his big cousin
Johnny caught a body yesterday out hustlin’
God bless America, you know we all love him
Yesterday I got a call like from my dog like 101
Said they killed his only son because of insufficient funds
He was sobbin’, he was mobbin’, way belligerent and drunk
Talkin’ out his head, philosphin’ on what the Lord had done
He said: “K-Dot, can you pray for me?
It’s been a fucked up day for me
I know that you anointed, show me how to overcome.”
He was lookin’ for some closure
Hopin’ I could bring him closer
To the spiritual, my spirit do no better, but I told him
“I can’t sugarcoat the answer for you, this is how I feel:
If somebody kill my son, that mean somebody gettin’ killed.”
Tell me what you do for love, loyalty, and passion of
All the memories collected, moments you could never touch
I’ll wait in front a niggas spot and watch him hit his block
I’ll catch a nigga leavin’ service if that’s all I got
I’ll chip a nigga, then throw the blower in his lap
Walk myself to the court like, “Bitch, I did that!”
Ain’t no Black Power when your baby killed by a coward
I can’t even keep the peace, don’t you fuck with one of ours
It be murder in the street, it be bodies in the hour
Ghetto bird be on the street, paramedics on the dial
Let somebody touch my mama
Touch my sister, touch my woman
Touch my daddy, touch my niece
Touch my nephew, touch my brother
You should chip a nigga, then throw the blower in his lap
Matter fact, I’m ’bout to speak at this convention
Call you back—

[Interlude: Kendrick Lamar]
Alright, kids, we’re gonna talk about gun control
(Pray for me) Damn!

[Chorus: Bono]
It’s not a place
This country is to be a sound of drum and bass
You close your eyes to look around

[Verse 2: Kendrick Lamar]
Hail Mary, Jesus and Joseph
The great American flag
Is wrapped and dragged with explosives
Compulsive disorder, sons and daughters
Barricaded blocks and borders
Look what you taught us!
It’s murder on my street, your street, back streets
Wall Street, corporate offices
Banks, employees, and bosses with
Homicidal thoughts; Donald Trump’s in office
We lost Barack and promised to never doubt him again
But is America honest, or do we bask in sin?
Pass the gin, I mix it with American blood
Then bash him in, you Crippin’ or you married to blood?
I’ll ask again—oops—accident
It’s nasty when you set us up
Then roll the dice, then bet us up
You overnight the big rifles, then tell Fox to be scared of us
Gang members or terrorists, et cetera, et cetera
America’s reflections of me, that’s what a mirror does

[Chorus: Bono]
It’s not a place
This country is to be a sound of drum and bass
You close your eyes to look ar—


Evalyn – Filthy Rich


Mommy says I’m a smoking gun
They call me cheap champagne, but I’m Miss Dom Perignon
Kids on line they say I’ve had too much fun
I get high with the spotlight on
Baby, when the crowd goes home, I’m all alone
I’ve got no one
Baby, when the credits wrong, no self control
I come undone

I thought you knew I’m filthy rich
I thought you knew I never answer my phone
I thought you knew I was a bitch
I’ve got a driver, so I’m never alone
I thought you knew I wasn’t late night catfight
Cocaine kill with the bed bite
Strong out I’ll [?]
Wall Street on weekend night, oh
I thought you knew

Mommy calls me a setting sun
Pretty little Hollywood, gonna have a Rollingstone
Spread page one
And credit card are so much fun
Jesus, won’t you save my soul? No self control,
I come undone

I thought you knew I’m filthy rich
I thought you knew I never answer my phone
I thought you knew I was a bitch
I’ve got a driver, so I’m never alone
I thought you knew I wasn’t late night catfight
Cocaine kill with the bed bite
Strong out I’ll [?]
Wall Street on weekend night, oh
I thought you knew
I thought you knew

Maserati gonna be here any minute now
Maserati gonna be here any minute now

I thought you knew I’m filthy rich
I thought you knew I never answer my phone
I thought you knew I was a bitch
I’ve got a driver, so I’m never alone
I thought you knew I wasn’t late night catfight
Cocaine kill with the bed bite
Strong out I’ll [?]
Wall Street on weekend night, oh
I thought you knew
I thought you knew
I thought you knew


Nov 7, Alkaline Ricochet Lyrics


Intro

2016
Wall Street
Common…

Hear me nuh
Hear me nuh
Idecash
Dj Frass
Yo Rappa!
Well, well, well

Chorus
Bwoy step out inna di war and flop himself
A try shoot ’round corner and end up shot himself
Ricochet off of the wall and knock him flat, him fell
Fu#king fool…
Bwoy go run down the war and bait up him friends
Bait up him family, bait up him endz
I couldn’t tell you say I sorry fi none of them
(Mi nuh sorry fi none of them)

Verse 1
You a hear me?
Bushmaster just a fire like a rocket
Spliff kotch inna mi mouth, mi have the AR and a clap it
Bere man a chatty too, hope dem have badness fi back it
Cyan catch quako, catch him shirt or him jacket
A coulda over Wendy’s, mi a go knock it
Nuh haffi lef’ mi car, just crack the window and slap it
The “9X” weh dem a sing inna song, mi got it
Look like one of me phone, coulda pass fi one of mi gadget
Nuh bring no war to me if you nuh plan fi go hot it
Nah go take nuh talk, nobody cyan call me fi squash it
We know you short of gun, ‘member them snatch it
Cold up now
No current, none in di socket

Hook
Mi buy mi own gun, how me fi panic?
This a carry 30, with a scope so me can track it
If it catch anywhere pon your bone it a go crack it
Fire 5 inna your chest, hold down your hand, it cyan go block it

Chorus
Bwoy step out inna di war and flop himself
A try shoot ’round corner and end up shot himself
Ricochet off of the wall and knock him flat, him fell
Fu#king fool…
Bwoy go run down the war and bait up him friends
Bait up him family, bait up him endz
I couldn’t tell you say I sorry fi none of them
(Fi none of them)

Verse 2
Then wait deh!
How come nobody nah talk?
Tap him pon
him shoulder deh, tell him him fall off
Shouldn’t shoob your head through the rail, shot a take it

all off (yeah!)
20-16 show the pusi them we nah laugh! (Straight!)
Look how me creep up pon them neat, like say mi cyan walk
Them and themselves, you cyan go see him, because the car dark
Lef’ them a bleed out of them car inna di car park
Ackee Walk ready and a wait fi the war start
Nuh have no license fi dem yah, but that cyan stop me
Haffi roll like how mi roll because them nah drop me
Them wouldn’t mind me get a sentence fi them laugh at me
Join the line, a nuh dem alone waan clap we
Novice!

Hook
Buy mi own gun, how me fi panic? (How mi fi panic?)
This a carry 30, with a scope so me can track it
If it catch anywhere pon your bone it a go crack it
Fire 5 inna your chest, hold down your hand, it cyan go block it

Chorus
Go run down di war and flop himself
A try shoot ’round corner and end up shot himself
Ricochet off of the wall and knock him flat, him fell
(Wha’ you call that?)
A fu#king fool…
Bwoy step out inna the war and bait up him friends (believe me!)
Bait up family, bait up him endz
“Spin ’round di car, mi nuh business, I goin’ murder dem!”

Verse 3
Wait…
Then how him still a say a fi him place?
(Fi him place wha’?)
Them paint out fi him face!
Shot full him up, da body deh haffi go cremate
Put them to sleep, and make the scheme wake
Wha’ dem have fi show?
Dem lose it and nuh know
Take ‘way him phone, him only bad in front of video
Mi go shot up the widow, family a go with you
See say you a look a strength, that’s why me answer you

Chorus
Bwoy step out inna di war and flop himself
A try shoot ’round corner and end up shot himself
Ricochet off of the wall and knock him flat, him fell
Fu#king fool…
Bwoy go run down the war and bait up him friends
Bait up family, bait up him endz
“Spin ’round di car, mi nuh business, I goin’ murder dem!”