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Soaring Canadian Insolvencies Cripple Local Banks
Soaring Canadian Insolvencies Cripple Local Banks Banks in Canada are starting to feel the pain of deteriorating credit quality, just weeks after we reported that insolvency filings had skyrocketed in almost all Canadian provinces. Toronto-Dominion Bank and Canadian Imperial Bank of Canada both just posted ugly first quarter results that included higher provisions for loan losses as a key contributor […]
Dollar Hegemony, Again
Dollar Hegemony, Again The United States Entity lost the war in Iraq. That fact determines the Entity’s position in the Middle East today. After having destroyed Saddam’s army and dispossessing the Sunnis in favor of the Shi’ites, after Abu Ghraib and it’s indelible pictures, after the total destruction of Fallujah, in short after a victory […]
Insane Stock Market Rally Due To Massive Global Monetary Liquidity
Insane Stock Market Rally Due To Massive Global Monetary Liquidity If you’re puzzled by the magnitude of the stock market correction since late December, you can thank the central banks for the rally. Yes, that’s correct… after the Dow Jones suffered the worst Christmas Eve trading day ever, the massive central bank monetary liquidity helped […]
US Army Takes 50 Tons of Gold From Syria in Alleged Deal With ISIS
US Army Takes 50 Tons of Gold From Syria in Alleged Deal With ISIS As the remaining pockets of ISIS fighters faced imminent defeat in northeast Syria, the United States allegedly gave them an offer they couldn’t refuse: give us your massive caches of gold — or die. According to reports by Syrian state news […]
Canada In Recession? GDP Unexpectedly Drops For 2nd Month In A Row
Canada In Recession? GDP Unexpectedly Drops For 2nd Month In A Row Canadian GDP just contracted for the second month in a row, leaving the headline Canada GDP up just 0.4% SAAR in 4Q, according to Statistics Canada (dramatically below the estimate of +1.0%). The headline quarterly change misses even lowest of economist estimates. And on a […]
What Kind of a Green Deal? The implications of material and monetary flows.
What Kind of a Green Deal? The implications of material and monetary flows. What Kind of a Green Deal? The implications of material and monetary flows1. Contents Introduction: the resurgence of New Green Deals. Green Deals, Growth and Material Flows Paying for a Green Deal: monetary flows. Introduction: the resurgence of New Green Deals. With increasing […]
Remember, The Fed Hasn’t Actually Done Anything Yet
Remember, The Fed Hasn’t Actually Done Anything Yet When the financial markets got, um, choppy towards the end of 2018, the Fed caved almost instantly. But only rhetorically. Fed chair Powell promised to stop raising interest rates and shrinking the money supply, and the financial markets, trained to salivate at the sound of Fed happy […]
The “disintegration” of global capitalism could unleash world war 3, warns top EU economist
The “disintegration” of global capitalism could unleash world war 3, warns top EU economist Seeing the systemic roots of this risk can help us avert catastrophe and build resilience A senior European Commission economist has warned that a Third World War is an extremely “high probability” in coming years due to the disintegration of global […]
The Doomsday Scenario for the Stock and Housing Bubbles
The Doomsday Scenario for the Stock and Housing Bubbles It was always folly to believe that inflating asset bubbles could solve the structural problems of a post-industrial economy. The Doomsday Scenario for the stock and housing bubbles is simple: the Fed’s magic fails. When dropping interest rates to zero and flooding the financial sector with loose […]
Intractable Inflation Very Dangerous New Paradigm – Michael Pento
Intractable Inflation Very Dangerous New Paradigm – Michael Pento Money manager Michael Pento says get ready for big inflation. Pento explains, “When the emergency ended (from the 2008-2009 financial meltdown), they were going to reverse course, sell those assets back to the public and take those dollars out of the economy. . . . A […]
Crisis after crisis: Why financial sector reform is not enough
Crisis after crisis: Why financial sector reform is not enough It is now clear that financial crises are not discrete events but are linked phenomena that have been unleashed on the globe ever since the financial markets were liberalized during the Reagan-Thatcher era in the early 1980’s. To take just the three most prominent crashes, […]
The Financial Apocalypse: The Market Faces A $12 Trillion Reckoning
The Financial Apocalypse: The Market Faces A $12 Trillion Reckoning Global markets are now facing a $12 trillion dollar reckoning. The problem is staring the financial apocalypse right in the face and has the potential to accelerate the coming stock market crash. A recent report from the Congressional Budget Office has warned that deficits will total $11.6 […]
Gold Rising Because it Protects Against Government – Martin Armstrong
Gold Rising Because it Protects Against Government – Martin Armstrong Legendary geopolitical and financial analyst Martin Armstrong continues to be bullish on America. Armstrong contends, “The U.S. economy has been the only thing holding up the world. People do not realize what is the difference between the U.S. vs. the rest of the world? China […]
“New Economic or Financial Crisis” in the Eurozone Could Start in Italy: French Government Frets
“New Economic or Financial Crisis” in the Eurozone Could Start in Italy: French Government Frets French banks are heavily exposed to Italy. “Don’t underestimate the impact of the Italian recession.” This was the stark warning from French Economy Minister Bruno Le Marie in an interview with Bloomberg News. “We talk a lot about Brexit, but we don’t […]
