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State of the American Debt-Slaves, Q3 2020: The Stimulus & Forbearance Phenomenon
State of the American Debt-Slaves, Q3 2020: The Stimulus & Forbearance Phenomenon Auto loans jump after historic price spikes. Credit cards still in stimulus wonderland. Student-loan borrowers count on debt forgiveness, mmmkay. Consumers have undertaken an astounding project instead of consuming: Paying down their credit cards. In September, outstanding balances of credit cards and other […]
What Oil Companies Face: The WTF-Collapse of Consumption of Gasoline & Jet Fuel from Long-Term Weakness
What Oil Companies Face: The WTF-Collapse of Consumption of Gasoline & Jet Fuel from Long-Term Weakness Transportation fuel demand rose to where it had been in … 1997. While the overall S&P 500 Index is down 2.7% in October, about flat for the three-month period, and up 2.8% for the year, the S&P 500 Energy […]
Fed Assets Eke Out New Record for First Time Since June 10. But Repos, Dollar Liquidity Swaps, SPVs Mothballed
Fed Assets Eke Out New Record for First Time Since June 10. But Repos, Dollar Liquidity Swaps, SPVs Mothballed Only Treasury securities and mortgage-backed securities (MBS) are still active. The Fed has now reduced to zero or to near-zero or essentially mothballed and thrown the towel in on three of its five QE and bailout […]
“Creative Destruction” or Just “Destruction?”
“Creative Destruction” or Just “Destruction?” Under the effects of the Pandemic, consumers and businesses grapple with their own “Reset.” This is the transcript of my podcast last Sunday, THE WOLF STREET REPORT. We’ve got the weirdest economy ever. A disputed number of people lost their jobs early on in the Pandemic, with figures ranging from […]
Extend-and-Pretend Caused Bankruptcies to Plunge in Germany, France, Spain. Now Central Banks Tell Banks to Prepare for Bankruptcy Surge
Extend-and-Pretend Caused Bankruptcies to Plunge in Germany, France, Spain. Now Central Banks Tell Banks to Prepare for Bankruptcy Surge The “second wave,” if prolonged, could cause bad loans to almost triple, to €1.4 trillion, says the ECB. German banks need to prepare themselves for a sharp spike in corporate bankruptcies early next year, the Bundesbank […]
The Great American Oil & Gas Massacre: Bankruptcies Hit New Milestone as Bigger Companies Let Go
The Great American Oil & Gas Massacre: Bankruptcies Hit New Milestone as Bigger Companies Let Go The American Oil Boom Was Where Money Went to Die. The amount of secured and unsecured debts, such as loans and bonds, listed in bankruptcy filings in the third quarter by US oil and gas companies, at $34 billion, […]
What’s Behind the Fed’s Project to Send Free Money to People Directly?
What’s Behind the Fed’s Project to Send Free Money to People Directly? A lump-sum payment in digital dollars for all Americans during a recession or to raise inflation, as an alternative to QE and negative interest rates, which have failed. By Wolf Richter. This is the transcript of my podcast last Sunday, THE WOLF STREET REPORT. You […]
What’s to Be Done Now with All These Zombie Companies?
What’s to Be Done Now with All These Zombie Companies? Saving the Zombies in Europe. Europe’s zombie firms are multiplying like never before. In Germany, one of the few European economies that has weathered the virus crisis reasonably well, an estimated 550,000 firms — roughly one-sixth of the total — could already be classified as […]
Have You Noticed How Push-Back Against Powell-Fed’s Actions Is Getting Louder in the Mainstream Media, from NPR to CNBC?
Have You Noticed How Push-Back Against Powell-Fed’s Actions Is Getting Louder in the Mainstream Media, from NPR to CNBC? Still a lot of fawning coverage, but big dissenters are now given prominent spots, and loaded questions are used to politely hammer Powell into telling obvious nonsense. This is an interesting turn of events, in a […]
“Prolonged Period of Risk to Institutional and Retail Investors of Further – Possibly Significant – Market Corrections”
“Prolonged Period of Risk to Institutional and Retail Investors of Further – Possibly Significant – Market Corrections” European Market Regulator flags big issues, including the “decoupling of financial market performance and underlying economic activity.” The European Securities and Markets Authority (ESMA) warned of a “prolonged period of risk to institutional and retail investors of further […]
The Zombie Companies Are Coming
The Zombie Companies Are Coming Easy money is a curse for capitalism. Through the first half of August – which is normally a quiet period for the bond market in the US – a total of $56 billion in junk bonds and leveraged loans were issued by junk-rated companies, according to S&P Global. That was […]
THE WOLF STREET REPORT: The Zombie Companies Are Coming
THE WOLF STREET REPORT: The Zombie Companies Are Coming “Easy money is a curse for capitalism.” You can also find the podcast on Apple Podcasts, Spotify, Stitcher, Google Podcasts, iHeart Radio, and others.
Shell’s Colossal Miscalculation in 2011 of Today’s LNG Price: Largest-Ever $12-$17-Billion “Floating Facility” Shut Down, Months After Shipping First LNG. Done in by Long Price Collapse
Shell’s Colossal Miscalculation in 2011 of Today’s LNG Price: Largest-Ever $12-$17-Billion “Floating Facility” Shut Down, Months After Shipping First LNG. Done in by Long Price Collapse Built to profit from sky-high LNG Prices in Japan. Sunk by surging US LNG Exports, multi-year collapse in LNG prices, global LNG glut. The Great East Japan Earthquake and […]
Turkey’s 2nd Financial & Currency Crisis in 2 Years Blossoms. Heavily Invested European Banks Look for Exit. But Not the Most Exposed Bank
Turkey’s 2nd Financial & Currency Crisis in 2 Years Blossoms. Heavily Invested European Banks Look for Exit. But Not the Most Exposed Bank Big Gamble that was hot for years has gone sour after Turkish lira’s plunge and surge of defaults on bank debts denominated in foreign currency. As the Turkish lira logged fresh record lows […]
