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Zombie Corporations Litter Europe, Kept Alive by ECB
Zombie Corporations Litter Europe, Kept Alive by ECB Bank of America says 9% of European firms have subpar interest coverage. Bloomberg covers the story in its report Zombie Companies Littering Europe May Tie the ECB’s Hands for Years. Watch out for the zombies. The plethora of companies propped up by the European Central Bank will limit policy […]
The Inconvenient Truth of Consumer Debt
The Inconvenient Truth of Consumer Debt It’s acceptable to build infinitely high levels of household debt — as long as rates never rise. Ready for a rainy day?Photographer: Anoek De Groot/AFP/Getty Images Oh, but for the days the hawks had a hero in Sydney. Against the backdrop of a de facto currency war, the Reserve […]
It’s A “Geopolitical Earthquake”: A Stunned World Responds After Saudi Alliance Cuts All Ties With Qatar
It’s A “Geopolitical Earthquake”: A Stunned World Responds After Saudi Alliance Cuts All Ties With Qatar Virtually nobody saw it coming. Late on Sunday night, the Saudi-led alliance of Gulf Arab states, Saudi Arabia, the UAE and Bahrain including Egypt, shocked the world when they announced they had severed ties and closed borders with one […]
Canada’s Housing Bubble Explodes As Its Biggest Mortgage Lender Crashes Most In History
Canada’s Housing Bubble Explodes As Its Biggest Mortgage Lender Crashes Most In History Call it Canada’s “New Century” moment. We first introduced readers to the company we said was the “tip of the iceberg in Canada’s magnificent housing bubble” nearly two years ago, in July 2015 when we exposed a major problem that we predicted […]
Beware the Debt Ceiling
Beware the Debt Ceiling Euphoria has been pervasive in the stock market since the election. But investors seem to be overlooking the risk of a U.S. government default resulting from a failure by Congress to raise the debt ceiling. The possibility is greater than anyone seems to realize, even with a supposedly unified government. In particular, […]
Kyrgzstan’s Central Bank Urges Citizens To Own Gold
Kyrgzstan’s Central Bank Urges Citizens To Own Gold “Gold can be stored for a long time and, despite the price fluctuations on international markets, it doesn’t lose its value for the population as a means of savings,” Kyrgyzstan’s Central Bank Governor Tolkunbek Abdygulov said, “I’ll try to turn the dream into reality faster.” A landlocked nation perched between China […]
4 Year Proposition? – Next President Has To Contend With Obama’s Massive Debt Burden At “Epic Turning Point”
4 Year Proposition? – Next President Has To Contend With Obama’s Massive Debt Burden At “Epic Turning Point” Whoever wins the 2016 presidential election tomorrow night could be in for a rough 4 years in the White House courtesy of the gigantic debt burden amassed by Obama over the previous 8 years. While an accommodative […]
Loonie Tumbles After Canadian Inflation, Retail Sales Plunge
Loonie Tumbles After Canadian Inflation, Retail Sales Plunge A slew of disappointing data out of Canada has sent the Loonie tumbling this morning (despite higher oil prices). Canadian Retail Sales and Inflation data missed across the board… Multi-year lows in CPI, Core CPI, and Retail Sales… And the result is a tumbling Loonie as expectations of […]
Going… Going… Gone! The EU Begins to Splinter
Going… Going… Gone! The EU Begins to Splinter Dark Social Mood Tsunami Washes Ashore Early this morning one might have been forgiven for thinking that Japan had probably just been hit by another tsunami. The Nikkei was down 1,300 points, the yen briefly soared above par. Gold had intermittently gained 100 smackers – if memory […]
This is How Draghi Will Sock it to Investors that Weren’t Invited to the Secret Meetings
This is How Draghi Will Sock it to Investors that Weren’t Invited to the Secret Meetings They’re all getting ready for Wednesday. Here’s what Draghi has accomplished recently: the prices of euro-denominated corporate debt have soared. The average yield of investment-grade debt is on the verge of dropping below 1%. A good part of the […]
Dangerous Situation: Venezuelan National Guard Assault Members Of The Press During Protests
Dangerous Situation: Venezuelan National Guard Assault Members Of The Press During Protests During Thursday’s protest over food in Caracas, chaos erupted after supermarket shoppers were told that regulated goods they had expected to be available would not be up for sale. In a sign of just how bad things have gotten, at least 19 journalists were attacked while […]
Turning Stones Into Bread – The Japanese Miracle
Turning Stones Into Bread – The Japanese Miracle Stuffing the Futon Our friend Ramsey Su just asked what Haruhiko Kuroda and Shinzo Abe are going to do now in light of the strong yen (aside from perhaps doing the honorable thing). Isn’t it time to just “wipe out some debt with the stroke of a pen”? The […]
‘They’ Have Decided “We Can’t Handle The Truth”
‘They’ Have Decided “We Can’t Handle The Truth” It’s a fun conceit of science fiction to contemplate the existence of alternative universes. As Bloomberg’s Richard Breslow points out, when you think they exist in the same time and place, it leaves the realm of the paperback section of the airport newsstand and is better discussed in […]
