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Huge Trouble Is Percolating Just Under The Surface Of The Global Economy
Huge Trouble Is Percolating Just Under The Surface Of The Global Economy Did you know that the number of publicly traded companies declaring bankruptcy has reached a five year high? And did you know that Chinese exports are absolutely collapsing and that Chinese economic growth in 2014 was the weakest in over 20 years? Even […]
A “Wave of Bankruptcies” About To Hit Coal Industry
A “Wave of Bankruptcies” About To Hit Coal Industry The future for the coal industry is looking “increasingly bleak,” according to an investor’s note from Macquarie Research. The analysis firm also said that “a wave of bankruptcies” appear to be just over the horizon as coal mining companies deal with mounting debt and a shrinking market. […]
Meet the bureaucrat who had the courage to tell the truth (and probably won’t have a job tomorrow)
Meet the bureaucrat who had the courage to tell the truth (and probably won’t have a job tomorrow) It’s not very often that you hear a senior government official refer to their economic situation using the word ‘crisis’. Yet with uncharacteristic bluntness of any government official anywhere, at least one senior Chinese government official is […]
Oil-and-Gas Default Wave, “Outright Liquidations” Next
Oil-and-Gas Default Wave, “Outright Liquidations” Next Every rally in crude oil since June turned out to be a pathetic sucker rally. On Friday, West Texas Intermediate fell over 2% to $45.32 a barrel, back where it had been on January 12, annihilating most of the 12% rally in between. WTI is now 58% below the June […]
“Oil Drillers Are Going To Die” In Q2, Conway Mackenzie Warns “Expect Outright Liquidations”
“Oil Drillers Are Going To Die” In Q2, Conway Mackenzie Warns “Expect Outright Liquidations” “The second quarter is going to be devastating for the service companies,” warns Conway Mackenzie – the largest U.S. restructuring firm – adding that, despite slashing thousands of jobs, delaying (or scrapping) billions in capex amid the prolonged rout in oil prices, […]
A Camp Amid the Ruins
A Camp Amid the Ruins Well, the Fates were apparently listening last week. As I write this, stock markets around the world are lurching through what might just be the opening moves of the Crash of 2015, whipsawed by further plunges in the price of oil and a range of other bad economic news; amid […]
The First Shale Casualty: WBH Energy Files For Bankruptcy; Many More Coming
The First Shale Casualty: WBH Energy Files For Bankruptcy; Many More Coming “There are too many ugly balance sheets,” warns one energy industry analyst, adding simply that “the group is not positioned for this downturn.” While the mainstream media continues to chant the happy-clappy side of lower oil prices, spewing various ‘statistics’ about how the down-side of low […]
China’s “Illusion Of Prosperity” Exposed: Forget Ghost Cities, Meet Ghost Factories | Zero Hedge
China’s “Illusion Of Prosperity” Exposed: Forget Ghost Cities, Meet Ghost Factories | Zero Hedge. Having exposed the 20+1 charts of China’s demise previously, we move to Exhibit (a) in the “illusion of prosperity” that keeps the dream (looking) alive to the outside (mostly Western get-rich-quick fast-money) world – China’s Zombie Factories… “There are large numbers of […]
The Morality and Legality of Debt Jubilee, Part I – Bullion Bulls Canada – Sprott Money News
The Morality and Legality of Debt Jubilee, Part I – Bullion Bulls Canada – Sprott Money News. Our nations (Western nations) are rapidly going bankrupt. This is not a suggestion or an assertion. It is a simple fact of arithmetic, for anyone capable of operating a calculator, and who can understand the concept of “compound interest”. […]
On The Looming Wall Of Chinese Defaults, Restructuring Firm Warns “You Know It’s Coming” | Zero Hedge
On The Looming Wall Of Chinese Defaults, Restructuring Firm Warns “You Know It’s Coming” | Zero Hedge. The news this week of China’s largest corporate bankruptcy – Haixin Iron & Steel Group – amid crashing iron ore and steel prices was followed by analysts noting it “will be followed by others,” as the major flaw of producers of iron […]
