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Chap. 11 Bankruptcies Spike 107% from Year Ago
Chap. 11 Bankruptcies Spike 107% from Year Ago What caused the biggest jump since the Financial Crisis? New Chapter 11 bankruptcies in the US more than doubled in December 2017 from a year ago to 699 filings. That jump of 362 filings from December 2016 was the largest year-over-year jump since the Financial Crisis. This […]
QE Party Over, even by the Bank of Japan
QE Party Over, even by the Bank of Japan First decline in its colossal balance sheet since 2012. An amazing – or on second thought, given how central banks operate, not so amazing – thing is happening. On one hand… Bank of Japan Governor Haruhiko Kuroda keeps saying that the BOJ would “patiently” maintain its […]
Switzerland too Falls Out of Love with the EU
Switzerland too Falls Out of Love with the EU Did someone say “referendum?” The EU’s relations with key third-party country Switzerland have sunk to their lowest point in years thanks to a last-minute decision by the European Commission to grant Swiss stock exchanges just one year’s further access to the single market. Switzerland is not […]
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 […]
Next Phase in Forcing Biometric Tracking on Consumers
Next Phase in Forcing Biometric Tracking on Consumers Ironically, banks in Mexico lead the way. In 2018, banks in Mexico will face new regulations that will oblige them to collect biometric data (finger prints and iris scans) on all of their customers. Whenever a customer asks for a new home or car loan, cashes in […]
Big Banks Are All Over Blockchain
Big Banks Are All Over Blockchain To process derivatives, currency trades, transactions, etc. Just don’t call it cryptocurrency. It’s a “digital currency.” As a general rule, most bankers disparage cryptocurrencies, like Bitcoin, as anything but purely speculative instruments. But they don’t disparage blockchain, the technology that underpins cryptocurrencies. On the contrary. They’re pouring money into […]
In Legalizing Marijuana, Uruguay Trips over the Dollar, US Laws, and Global Banks
In Legalizing Marijuana, Uruguay Trips over the Dollar, US Laws, and Global Banks It’s far from easy to do business without the financial support of any bank. But Uruguay, in its efforts to create a legal, regulated market for the recreational use of marijuana, is trying. In August it was revealed that some of the pharmacies […]
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 […]
Canadian Homeowners Take Out HELOCs to Fund Subprime Buyers Unable to get a Mortgage
Canadian Homeowners Take Out HELOCs to Fund Subprime Buyers Unable to get a Mortgage The Housing & Debt Bubble ascends to the next level of risk. By Steve Saretsky, Vancouver, Canada, Vancity Condo Guide: The HELOC (Home Equity Line of Credit) has been a blessing and a curse for Canadian households. While it has helped spur […]
Stressful Year Ahead for Spanish Banks
Stressful Year Ahead for Spanish Banks The “spillover effects.” Just how much more stress Europe’s banking system can bear will be one of the big questions of 2018. This year was already a pretty stressful year, what with two major Italian banks being put out of their misery while, another, Monte dei Paschi di Siena, […]
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 […]
Is Oil About to Collapse?
Is Oil About to Collapse? US producers simply don’t play along with OPEC and Russia. By Martin Tiller, Oil & Energy Insider: WTI really does look like it is about to collapse. Let’s be clear, I am not necessarily talking about a return to the sub-$30 of the beginning of 2016 here, but a return to the […]
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 […]
