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Beware The Zombies: BIS Warns That Non-Viable Firms Are Crippling Global Growth
Beware The Zombies: BIS Warns That Non-Viable Firms Are Crippling Global Growth Ten years after central banks unleashed a period of record low interest rates, the central banks’ central bank is warning that this may not have been the smartest move. In the latest quarterly review from the Bank of International Settlements, the Basel-based organization […]
Weekly Commentary: BIS Annual Economic Report (for posterity)
Weekly Commentary: BIS Annual Economic Report (for posterity) With attention focused on unfolding trade wars and summer vacations, the release of the Bank of International Settlement (BIS) Annual Report garnered scant notice (with the exception of Gillian Tett’s Thursday FT article, “Holiday Trading Lull Flashes Red for Financiers”). From the BIS: “It is now 10 […]
BIS Confirms Banks Use “Lehman-Style Trick” To Disguise Debt, Engage In “Window Dressing”
BIS Confirms Banks Use “Lehman-Style Trick” To Disguise Debt, Engage In “Window Dressing” Several years ago we showed how the Fed’s then-new Reverse Repo operation had quickly transformed into nothing more than a quarter-end “window dressing” operation for major banks, seeking to make their balance sheets appear healthier and more stable for regulatory purposes. As […]
What to Expect From Central Bankers
WHAT TO EXPECT FROM CENTRAL BANKERS The Federal Reserve continues to tighten and other Central Banks will follow The BIS expects stocks to lose their lustre and bond yields to rise The normalisation process will be protracted, like the QE it replaces Macro prudential policy will have greater emphasis during the next boom As financial […]
Will US Companies Repatriating Cash Home Create Banking Crisis Outside USA?
Will US Companies Repatriating Cash Home Create Banking Crisis Outside USA? QUESTION: Mr. Armstrong; Do you believe that if American companies do repatriate dollars to get the low tax rate in the USA, will this impact foreign banks as capital withdraws? I figured you are the best qualified to answer that question nobody seems to […]
BIS Publishes A “Simplified” Map Of China’s Shadow Banking System
BIS Publishes A “Simplified” Map Of China’s Shadow Banking System While China’s shadow banking sector may have been tamed in the past year as a result of an aggressive crackdown by Beijing over the unregulated, gray-market in high interest lending and especially Wealth Management Products or WMPs, it, it still retains an aura of incomprehensibility […]
Is Cryptocurrency a Ponzi Scheme?
Is Cryptocurrency a Ponzi Scheme? Just three weeks ago Bitconnect announced it was shutting down after being accused of running a Ponzi scheme. Techcrunch chronicles Bitconnect’s decline noting how the term “pyramid scheme” was not an unfair assessment as to what was going on: “Bitconnect was an anonymously-run site where users could loan their cryptocurrency […]
World Dollar Debt up 5.2% – World Euro Debt Up 10.5%
World Dollar Debt up 5.2% – World Euro Debt Up 10.5% The Bank for International Settlements (BIS) has reported exactly what we have been warning about – the explosion in dollar-denominated debt outside the USA which means a rise in the dollar will see a massive debt crisis. The total volume of US dollar-denominated debt outside […]
World faces wave of epic debt defaults, fears central bank veteran
World faces wave of epic debt defaults, fears central bank veteran Exclusive: Situation worse than it was in 2007, says chairman of the OECD’s review committee The next task awaiting the global authorities is how to manage debt write-offs without setting off a political storm Photo: Rex The global financial system has become dangerously unstable and […]
The Big Reversal: Inflation and Higher Interest Rates Are Coming Our Way
The Big Reversal: Inflation and Higher Interest Rates Are Coming Our Way This interaction will spark a runaway feedback loop that will smack asset valuations back to pre-bubble, pre-pyramid scheme levels. According to the conventional economic forecast, interest rates will stay near-zero essentially forever due to slow growth. And since growth is slow, inflation will […]
BIS Finds Global Debt May Be Underreported By $14 Trillion
BIS Finds Global Debt May Be Underreported By $14 Trillion In its latest annual summary published at the end of June, the IIF found that total nominal global debt had risen to a new all time high of $217 trillion, or 327% of global GDP… … largely as a result of an unprecedented increase in […]
Former BIS Chief Economist Warns “More Dangers Now Than In 2007”
Former BIS Chief Economist Warns “More Dangers Now Than In 2007” Having warned in the past that “the system is dangerously unacnhored,” former chief economist of the Bank for International Settlements, William White, told Bloomberg TV overnight that the current situation “looks very similar to 2008,” adding that OECD sees “more dangers” today than in […]
Whose Banks Are Riskiest: A Surprising Answer From The BIS
Whose Banks Are Riskiest: A Surprising Answer From The BIS When one thinks of unstable, risky banking systems, the first thing that comes to mind are visions of insolvent, state-backed building – with or without long ATM lines – in China, Greece, Italy or, in recent times, Germany. However, according to the most recent report […]
China Relies On Property Bubbles To Prop Up GDP
China Relies On Property Bubbles To Prop Up GDP Carl Mydans Sharecropper’s family in Mississippi County, Missouri 1936Lots of China again today. Most of it based on warnings, coming from the BIS, about the country’s financial shenanigans. I’m getting the feeling we have gotten so used to huge and often unprecedented numbers, viewed against the backdrop of […]
Canadian Housing Bubble, Debt Stir Financial Crisis Fears
Canadian Housing Bubble, Debt Stir Financial Crisis Fears Their bone-chilling chart. Everyone is fretting about the Canadian house price bubble and the mountain of debt it generates – from the IMF on down to the regular Canadian. Now even the Bank for International Settlement (BIS) and the Organization for Economic Co-operation and Development (OECD) warn about […]
