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Tag Archives: debt
The Old Songs
The Old Songs What if the fun and games of 2017 are over? The hidden message behind the sexual harassment freak show of recent weeks is that nothing else is sufficiently serious to occupy the nation’s attention. We’re living in the Year of Suspended Reality, stuck in the sideshow and missing the three-ring circus next […]
EU Concern Rising About Italian Debt
EU Concern Rising About Italian Debt The EU Commission is deeply concerned that Italy is under pressure to spend frivolously because of the upcoming elections. The EU is apply more scrutiny for Italy’s huge sovereign debt. Because of the vast size of the Italian economy, the high level of total debt is a major cause for […]
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 […]
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 […]
The Next Italian Bank Threatens to Topple
The Next Italian Bank Threatens to Topple Sharp Dose of Deja Vu for Italy’s Teetering Banks. In a speech that did little to calm investors’ nerves, Italy’s finance minister said yesterday that he was “strangely optimistic” about Italy’s economic outlook. Senior eurocrats in Brussels are far from convinced. “Italy’s accounts are not improving,” blasted European […]
Venezuela Signs $3.2 Billion Debt Restructuring Deal With Russia
Venezuela Signs $3.2 Billion Debt Restructuring Deal With Russia As Venezuela teeters right on the brink of complete financial collapse, Bloomberg reports that Russia has agreed to restructure roughly $3.2 billion in outstanding obligations. While details of the restructuring agreement are scarce, both sides reported that the deal spreads payments out over 10 years with […]
Venezuela Defaults On A Debt Payment – Is This The First Domino To Fall?
Venezuela Defaults On A Debt Payment – Is This The First Domino To Fall? Did you know that Venezuela just went into default? This should be an absolutely enormous story, but the mainstream media is being very quiet about it. Wall Street and other major financial centers around the globe could potentially be facing hundreds […]
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. […]
S&P Downgrades Venezuela To “Selective Default” After Bondholder Meeting Devolves Into Total Chaos
S&P Downgrades Venezuela To “Selective Default” After Bondholder Meeting Devolves Into Total Chaos Creditors had little expectations from today’s ad hoc meeting with “soon-to-default” Venezuela, and with good reason: not only was the meeting attended by several sanctioned Venezuelan officials, potentially jeopardizing the legal status of any bondholders who voluntarily appeared at the Caracas meeting […]
The Kids Are Not Alright
The Kids Are Not Alright Debt initially dazzles and deceives, then it disappoints, disillusions, devastates, and destroys. The thing governments do best is borrow. Performance varies across the range of their purported functions—warfare, maintenance of public order, provision of goods and services, redistribution, regulation—but they all go into debt. The structure of governments and their […]
Weekly Commentary: “Money” on the Move
Weekly Commentary: “Money” on the Move It’s been awhile since I’ve used this terminology. But global markets this week recalled the old “Bubble in Search of a Pin.” It’s too early of course to call an end to the great global financial Bubble. But suddenly, right when everything looked so wonderful, there are indication of […]
Venezuela Officially Defaults; Annual Inflation 2689 Percent: When Does the Military Take Over?
Venezuela Officially Defaults; Annual Inflation 2689 Percent: When Does the Military Take Over? Electricidad de Caracas, a Venezuelan state-owned electric company, officially defaulted on a $650 million bond payment. The company was already a month late on its payment before the trustee, Wilmington Trust, issued a statement. Meaanwhile, Professor Steve Hanke notes annual inflation is […]
Perpetual Notes – China’s New Way To Hide Debt (Call It Equity)
Perpetual Notes – China’s New Way To Hide Debt (Call It Equity) The legacy of the soon-to-retire PBoC governor, Zhou Xiochuan, will be that in sharp contrast to his western brethren, he warned that China’s credit bubble would burst before the fact. Two weeks ago, Zhou warned during the Party Congress that China’s financial system […]
Venezuela Just 24 Hours Away From Formal Declaration Of Default
Venezuela Just 24 Hours Away From Formal Declaration Of Default Less than a week after Venezuela shocked the world by announcing it would proceed to restructure its massive external debt, even as it was within the grace period on hundreds of millions in unpaid interest expense, on Thursday the socialist nation confirmed it has never […]
Prepare For Interest Rate Rises And Global Debt Bubble Collapse
Prepare For Interest Rate Rises And Global Debt Bubble Collapse – Diversify, rebalance investments and prepare for interest rate rises – UK launches inquiry into household finances as £200bn debt pile looms – Centuries of data forewarn of rapid reversal from ultra low interest rates – 700-year average real interest rate is 4.78% (must see chart) […]
