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Treasury Warns Of “Humanitarian Crisis” In Puerto Rico If Congress Does Not Agree To Bailout
Treasury Warns Of “Humanitarian Crisis” In Puerto Rico If Congress Does Not Agree To Bailout “Puerto Rico is not Greece“… but it increasingly looks like it will be in a few weeks, thanks to US taxpayers who are about to foot the bill for yet another creditor bailout. As we reported last night, creditors of the […]
Obama Unveils Roadmap To ‘Bailout’ Puerto Rico: “New” Bankruptcy Rules & Federal Fiscal Oversight
Obama Unveils Roadmap To ‘Bailout’ Puerto Rico: “New” Bankruptcy Rules & Federal Fiscal Oversight America is not Greece, but judging from the Obama administration’s just-unveiled plans to bailout Puerto Rico’s disastrous debt situation, the American territory may have to sacrifice a little more sovereignty to get some relief. Obama is pressing for Congress to give […]
Will Illinois Be the First State to Go Bankrupt?
Will Illinois Be the First State to Go Bankrupt? The state of Illinois is in real trouble. The state employees have been bleeding the state dry and are demanding that they raise taxes so they can get theirs. This is the poster state for government employees expropriating private assets. Illinois must pay $560 million in […]
The World Hits Its Credit Limit, And The Debt Market Is Starting To Realize That
The World Hits Its Credit Limit, And The Debt Market Is Starting To Realize That One month ago, when looking at the dramatic change in the market landscape when the first cracks in the central planning facade became evident and it appeared that central banks are in the process of rapidly losing credibility, and the […]
The G-30 Group Of Central Bankers Warn They Can “No Longer Save The World”
The G-30 Group Of Central Bankers Warn They Can “No Longer Save The World” In a detailed report by the Group of Thirty, central bankers warned that ZIRP and money printing were not sufficient to revive economic growth and risked becoming semi-permanent measures. As Reuters reports, the flow of easy money has inflated asset prices like stocks and […]
IMF: $3 trillion in “Over-Borrowing Now Threatens To Unleash a Wave of Defaults”
IMF: $3 trillion in “Over-Borrowing Now Threatens To Unleash a Wave of Defaults” The next great financial crisis may be only a short time away. As readers know, SHTF has routinely covered the bleak warnings and predictions of market insiders and critics of Wall Street and the Federal Reserve. Now, there is yet another indication […]
Did Argentina’s CNV Pass a Law to Avoid a Bond Payment?
Did Argentina’s CNV Pass a Law to Avoid a Bond Payment? Last Tuesday, Argentina’s securities regulator, the CNV, shocked markets by announcing Resolution 646 requiring that mutual funds price dollar-denominated assets in pesos at the official government rate rather than the market rate that is closer to the parallel or blue dollar. Despite efforts from banks […]
Chinese Cash Flow Shocker: More Than Half Of Commodity Companies Can’t Pay The Interest On Their Debt
Chinese Cash Flow Shocker: More Than Half Of Commodity Companies Can’t Pay The Interest On Their Debt Earlier today, Macquarie released a must-read report titled “Further deterioration in China’s corporate debt coverage”, in which the Australian bank looks at the Chinese corporate debt bubble (a topic familiar to our readers since 2012) however not in terms […]
Spain Leaps Toward Political Breakdown
Spain Leaps Toward Political Breakdown Desperately needed international investors dread it The dust is not even close to settling after Catalonia’s latest experimental flirtation with nation building. The pro-independence coalition fell tantalizingly short of gaining a majority of seats (62 out of 135). Now it needs the support of the anti-capitalist separatist party Popular Unity Candidacy […]
Oil Companies Running Out Of Options
Oil Companies Running Out Of Options The financial pressure on indebted oil and gas companies continues to mount, putting them in a bind as they try to mend their deteriorating balance sheets. As their debt rises, drillers have had to divert more of their operating cash flow to servicing that debt. Or, put another way, […]
Three Reasons Why the U.S. Government Should Default on Its Debt Today
Three Reasons Why the U.S. Government Should Default on Its Debt Today The overleveraging of the U.S. federal, state, and local governments, some corporations, and consumers is well known. This has long been the case, and most people are bored by the topic. If debt is a problem, it has been manageable for so long […]
