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Momentous Change in US Natural Gas, with Global Impact
Momentous Change in US Natural Gas, with Global Impact Even China is buying U.S. LNG. In 2017, the US became a net exporter of natural gas for the first time. It started small in February, when the US exported 1 billion cubic feet more than it imported. By October, the last month for which data from […]
Russian Banking Crisis: 3rd Major Bank Topples in 4 months
Russian Banking Crisis: 3rd Major Bank Topples in 4 months “It turned into a lender which financed its owners”: Central Bank. It’s Friday, and another Russian bank gets taken over and most of its creditors get bailed out by the Central Bank, this time the 10th largest bank in Russia, Promsvyazbank – with the top […]
Canada Home Values Hit “First Quarterly Decline since Q1 2009” as Household Debt Binge Hits New High
Canada Home Values Hit “First Quarterly Decline since Q1 2009” as Household Debt Binge Hits New High How exposed are over-indebted household to rising interest rates? Household debt in Canada rose to a new record of C$2.11 trillion in the third quarter 2017, up 5.2% from a year ago and up 10.7% from two years […]
How Fed Rate Hikes Impact US Debt Slaves
How Fed Rate Hikes Impact US Debt Slaves But savers are still getting shafted. Outstanding “revolving credit” owed by consumers – such as bank-issued and private-label credit cards – jumped 6.1% year-over-year to $977 billion in the third quarter, according to the Fed’s Board of Governors. When the holiday shopping season is over, it will […]
The Fed’s QE-Unwind is Really Happening
The Fed’s QE-Unwind is Really Happening Fed’s assets drop to lowest level in over three years. The Fed’s balance sheet for the week ending December 6, released today, completes the second month of the QE-unwind. Total assets initially zigzagged within a tight range to end October where it started, at $4,456 billion. But in November, […]
Fed Tightens, “and so far, Nothing Has Blown Up”
Fed Tightens, “and so far, Nothing Has Blown Up” Gundlach frets about bonds during QE unwind, rate hikes, tax cuts, and rising deficits. “A tax cut will reduce revenue and it will grow the deficit and therefore, it will probably grow bond supply, and perhaps boost economic growth,” DoubleLine Capital CEO Jeffrey Gundlach said on […]
Bank of Japan Tapers (Quietly), QE Party Over
Bank of Japan Tapers (Quietly), QE Party Over No flashy announcement, to avoid alarming the markets. After years of blistering asset purchases, the Bank of Japan disclosed today that it held a total of ¥521.6 trillion in assets as of November 30, including Japanese Government Bonds (JGBs), gold, corporate bonds, Japanese REITs, equity ETFs, loans, etc. […]
US Demand for Electricity Falls Further: What Does it Mean?
US Demand for Electricity Falls Further: What Does it Mean? Layoffs at GE Power, for example. The weekend started Friday night with layoff news from GE’s power division, in two locations. First, there was Greenville County, South Carolina, where GE Power is one of the largest employers with 3,400 workers. “Based on the current challenges […]
US Gross National Debt Jumps $723 billion in 12 Weeks, Yellen “Very Worried about Sustainability of US Debt Trajectory”
US Gross National Debt Jumps $723 billion in 12 Weeks, Yellen “Very Worried about Sustainability of US Debt Trajectory” But only a few lost souls in Congress care. Even as lawmakers are trying to cobble together a tax-cut bill that would cut revenues by $1.5 trillion over ten years, the gross national debt has spiked […]
Stock Market Lazes Happily on a Powerful Time Bomb, and the Fed Begins to Worry
Stock Market Lazes Happily on a Powerful Time Bomb, and the Fed Begins to Worry Pointing at “excesses,” “distortions,” and “imbalances.” Margin debt in the stock market hit another record, $561 billion at the end of October, up 16% from a year ago, the New York Stock Exchange reported on Tuesday. Margin debt and the […]
Whose Private-Sector Debt Will Implode Next: US, Canada, China, Eurozone, Japan?
Whose Private-Sector Debt Will Implode Next: US, Canada, China, Eurozone, Japan? Canadians, fasten your seat-belt. Here are the charts. The Financial Crisis in the US was a consequence of too much debt and too much risk, among numerous other factors, and the whole house of cards came down. Now, after eight years of experimental monetary […]
Why Core Inflation is Rising & What it Means for Fed Rate Hikes
Why Core Inflation is Rising & What it Means for Fed Rate Hikes Yellen was right to brush off “transitory” factors of “low” inflation. Consumer prices, as measured by CPI for October, rose 2.0% year-over-year. A month ago, CPI increased 2.2%. The Fed’s inflation target is 2%, but it doesn’t use CPI, or even “Core […]
Auto-Loan Subprime Blows Up Lehman-Moment-Like
Auto-Loan Subprime Blows Up Lehman-Moment-Like But there is no Financial Crisis. These are the boom times. Given Americans’ ceaseless urge to borrow and spend, household debt in the third quarter surged by $610 billion, or 5%, from the third quarter last year, to a new record of $13 trillion, according to the New York Fed. […]
US to Import Inflation from Japan, China, South Korea
US to Import Inflation from Japan, China, South Korea Even from Japan – whose export producer prices are soaring. The oil price collapse that started in 2014 pushed down input costs that companies – the “producers” – faced. And producer price indices, which measure inflation further up the pipeline, plunged. But this is over. And […]
How US Debt Slaves Get Trapped by “Deferred Interest”
How US Debt Slaves Get Trapped by “Deferred Interest” But over the next 2 months, they’ll try to prop up US retailers and the entire global economy. Credit cards play a huge role in what the US retail industry hopes will be a $682-billion splurge by Americans over the holiday selling season. Already, total revolving […]
