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US National Debt Hits $21 Trillion
US National Debt Hits $21 Trillion For 8 years, we took every opportunity to point out that under Barack Obama’s administration, US debt was rising at a alarmingly rapid rate, having nearly doubled, surging by $9.3 trillion during Obama’s 8 years. It now appears that the trajectory of US debt under the Trump administration will […]
The Fed Has Its Finger On The Button Of A Nuclear Debt Bomb
The Fed Has Its Finger On The Button Of A Nuclear Debt Bomb I hear a lot of talk lately in the alternative media (and even the mainstream media) of the potential for World War III. The general assumption when one hears that term is that “nuclear conflict” is imminent. But a world war does […]
On borrowed time: America’s companies have binged on debt; a reckoning looms
On borrowed time: America’s companies have binged on debt; a reckoning looms The total debt of American non-financial corporations as a percentage of GDP has reached a record high of 73.3% AMERICA’s companies have been powering ahead for years. Amid growing profits, the recession that began in 2007 seems an increasingly distant memory. Yet the situation […]
Toxic Debt Still Plagues Spanish Banks (and Taxpayers Will End Up Paying for It)
Toxic Debt Still Plagues Spanish Banks (and Taxpayers Will End Up Paying for It) Years after Crisis Was “Solved.” Europe’s banking authorities are finally beginning to pile pressure on poorly performing banks to clean up their books, something that should have happened a long, long time ago. But as is often the case with European […]
The $233 Trillion Dollar Dark Cloud of Global Debt
The $233 Trillion Dollar Dark Cloud of Global Debt Global debt has reached record heights without any signs of relief. While central bankers try to explain away the phenomenon of these out-of-control numbers, it’s not much of a mystery. Immediate consumption with the promise of repayment sometime in the future has consequences. Global debt is […]
Generation Screwed to Morneau: stop shoveling government debts on Canada’s kids
Generation Screwed to Morneau: stop shoveling government debts on Canada’s kids Bill Morneau, Canada’s Minister of Finance, told a touching story recently about being alone while his daughters were away at university. A poster about women’s rights that he saw in one of the girls’ rooms as he toured the empty house provided inspiration […]
Ron Paul Fears “Huge” Correction In Stocks, Warns “It’s Going To Be A Calamity”
Ron Paul Fears “Huge” Correction In Stocks, Warns “It’s Going To Be A Calamity” “I think we have a greater distortion and a financial danger sitting out there bigger than ever before,” warned former presidential candidate Ron Paul in an ominous interview with CNBC this week. While markets briefly got nervous over Trump’s tariffs last […]
Are Subprime Debt Slaves, a Leading Indicator, Worrying the Fed?
Are Subprime Debt Slaves, a Leading Indicator, Worrying the Fed? Credit problems always appear first at the margins. The new Fed remains a somewhat unknown quantity: There are still four vacancies on the Fed’s seven-member Board of Governors that forms the core of the policy-making FOMC. The new Chairman, Jerome Powell, has already shown in […]
Broken Promises
Broken Promises Demanding More Debt Consumer debt, corporate debt, and government debt are all going up. But that’s not all. Margin debt – debt that investors borrow against their portfolio to buy more stocks – has hit a record of $642.8 billion. What in the world are people thinking? A blow-off in margin debt mirroring the […]
From Bling to Plonk – An Update on the Debt Mountain
From Bling to Plonk – An Update on the Debt Mountain Serenely Grows the Debtberg We mentioned in a recent post that we would soon return to the topic of credit spreads and exotic structured products. One reason for doing so are the many surprises investors faced in the 2008 crisis. Readers may e.g. remember […]
Rising Economic Head Winds
Rising Economic Head Winds Remember the “tea party” revolt in 2009–2010 against government bailouts and government spending? Remember the “fiscal cliff” drama of Dec. 31, 2012, when Congress raised taxes and cut spending to avoid a debt default and government shutdown? Remember the actual government shutdown in October 2013 as Republicans held the line against […]
The Faster America “Grows”, The Faster America Goes Bust
The Faster America “Grows”, The Faster America Goes Bust As of October 1st of 2007 (the start of the 2008 Federal Government fiscal year), federal debt stood at $9 trillion and 70 billion. In the subsequent ten years and five months, the US federal debt has grown $11 trillion and 805 billion and now stands at $20 […]
Inflation is in the Rear-View Mirror
Inflation is in the Rear-View Mirror 43 percent of credit card holders carry a balance. Delinquencies are rising. It’s a deflationary debt trap. Revolving Credit Hits New Record High In December, revolving debt has topped the previous high-water mark of $1.021 trillion set in April of 2008. Debt as of December 2017 (the latest available) […]
Oil Market Fears: War, Default And Nuclear Weapons
Oil Market Fears: War, Default And Nuclear Weapons The U.S. is one of the few areas of the world in which there is an energy investment boom underway, a development that could smooth out the uncertainties of geopolitical events around the world. At the same time, outside of the U.S., there is a deterioration of […]
Consumers In Surprising Places Are Borrowing Like Crazy
Consumers In Surprising Places Are Borrowing Like Crazy The Money Bubble is inflating at different speeds in different places. But apparently no culture is immune: Household Debt Sees Quiet Boom Across the Globe (Wall Street Journal) – A decade after the global financial crisis, household debts are considered by many to be a problem of […]
