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US Treasury Issues More Bonds, But No One Wants Them
US Treasury Issues More Bonds, But No One Wants Them In an attempt to feed the soaring debt and spending habits of the United States government, the US Treasury is issuing more bonds. But they’ve run into a big problem: no one wants to buy those worthless bonds anymore. Debt is going to be a big problem […]
JP Morgan Expert: True Debt, Pension, Healthcare Payments Would Consume Half of Illinois Revenue, Bankruptcy Option Needed
JP Morgan Expert: True Debt, Pension, Healthcare Payments Would Consume Half of Illinois Revenue, Bankruptcy Option Needed Michael Cembalest is Chairman of Market and Investment Strategy at J.P. Morgan Asset Management. His report released yesterday, The ARC and the Covenants, updates his earlier research comparing the percentage of state revenues needed to pay interest on […]
Trader: Italy’s Situation Is Truly Unprecedented
Trader: Italy’s Situation Is Truly Unprecedented If Italy is going to avoid a full-blown euro zone debt crisis that’s capable of causing turmoil in global financial markets, communication will be key. Much of the investor complacency toward the threat from Italy’s debt crisis is the fallacy that worse scenarios have been survived elsewhere before. Let’s […]
The Global Distortions of Doom Part 1: Hyper-Indebted Zombie Corporations
The Global Distortions of Doom Part 1: Hyper-Indebted Zombie Corporations The defaults and currency crises in the periphery will then move into the core. It’s funny how unintended consequences so rarely turn out to be good. The intended consequences of central banks’ unprecedented tsunami of stimulus (quantitative easing, super-low interest rates and easy credit / […]
Spain: IMF Highlights Rising Risks
Spain: IMF Highlights Rising Risks The International Monetary Fund can be criticized for many things, but its analysis of countries’ debt risk tends to be worth a read. In this case, the International Monetary Fund has once again warned Spain of the risk of reversing reforms and increasing imbalances. It asks to deepen in the labor reform […]
Italy’s Debt Crisis Flares Up, Banks Get Hit, as Showdown with the EU Intensifies
Italy’s Debt Crisis Flares Up, Banks Get Hit, as Showdown with the EU Intensifies Who will blink first? A serious showdown is brewing in the Eurozone as Italy’s anti-establishment coalition government takes on the EU establishment in a struggle that could have major ramifications for Europe’s monetary union. The cause of the discord is the […]
Inverted Global Yield Curve Creates “The Perfect Cocktail For A Liquidity Crunch” As The IMF Warns Of “A Second Great Depression”
Inverted Global Yield Curve Creates “The Perfect Cocktail For A Liquidity Crunch” As The IMF Warns Of “A Second Great Depression” Why would the IMF use the phrase “a second Great Depression” in a report that they know the entire world will read? To be more precise, the IMF stated that “large challenges loom for […]
The US Spent A Record $523 Billion On Debt Interest In Fiscal 2018
The US Spent A Record $523 Billion On Debt Interest In Fiscal 2018 Earlier this week, when the US closed fiscal 2018 on September 30, we reported that US gross national debt jumped by $84 billion on September 28, the last business day of fiscal year 2018; with this last push higher, total gross national […]
Loans Sour in Turkey, Inflation Hits 25%, Interest Rates Spike, Fears of Contagion Rise
Loans Sour in Turkey, Inflation Hits 25%, Interest Rates Spike, Fears of Contagion Rise The economic miracle fueled by foreign-currency debt. The Bank of Turkey’s decision mid-September to hike its policy rate from 17.75% to 24% may have temporarily stemmed the rout in the Turkish lira, but the hiatus is now over. This week, the […]
Greece Planning Bad Debt Bailout For Its Banks After Market Crash
Greece Planning Bad Debt Bailout For Its Banks After Market Crash It seems like it was just yesterday that Greek banks, which carry some €89BN of bad loans on their balance sheets, passed the ECB’s latest confidence building exercise, known as the “stress test.” In retrospect that may have been premature, because as Bloomberg reports, […]
World economy at risk of another financial crash, says IMF
World economy at risk of another financial crash, says IMF Debt is above 2008 level and failure to reform banking system could trigger crisis The floor of the New York stock exchange in September 2008. Photograph: Richard Drew/AP The world economy is at risk of another financial meltdown, following the failure of governments and regulators […]
China for the Trade Win?
China for the Trade Win? Empire of Debt Debt in Pictures Wargaming the Trade War Some Thoughts on Getting Through the Great Debt Reset San Francisco, Frankfurt, and Puerto Rico? With all the trade war talk, we all ask the obvious question: Who will win? President Trump says the US will win. Chinese business leaders […]
The Retail Apocalypse Picks Up Speed As Sears, JCPenney, Brookstone And Mattress Firm Spiral Toward Bankruptcy
The Retail Apocalypse Picks Up Speed As Sears, JCPenney, Brookstone And Mattress Firm Spiral Toward Bankruptcy Over 20 major retailers have filed for bankruptcy since the beginning of last year, and in 2018 we may break the all-time record for annual store closings that was established just last year. We are in the midst of […]
