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Major Freight Carrier Bankrupted, Leaving 3,000 Truckers Jobless, Many Stranded On Highways
Major Freight Carrier Bankrupted, Leaving 3,000 Truckers Jobless, Many Stranded On Highways As the manufacturing recession gains momentum, the largest U.S. truckload carrier filed for bankruptcy Monday morning, leaving 3,000 truck drivers and 500 administrative positions without a job two weeks before Christmas. Indianapolis-based Celadon filed for voluntary Chapter 11 bankruptcy in the early hours […]
The Next Pearl Harbour? China’s Gold-Backed Crypto Currency Will Blindside US Dollar
The Next Pearl Harbour? China’s Gold-Backed Crypto Currency Will Blindside US Dollar “A date which will live in infamy.” Indeed, this weekend marks the 78th anniversary of the attack on Pearl Harbor in Hawaii, which opened the door for the United States to enter World War II. Turn on your TV and you will see military mavens rambling […]
Fed’s Third “Year-End” Repo Oversubscribed Again Amid Liquiduity Scramble As Dec 16 Tax Day Looms
Fed’s Third “Year-End” Repo Oversubscribed Again Amid Liquiduity Scramble As Dec 16 Tax Day Looms One week after the Fed’s second 42-day term repo which allowed dealers to lock in funding into the new year and which was again oversubscribed, confirming a growing scramble for year-end funding, traders were looking ahead to the result from […]
Is A Global Crash Just Around The Corner? Central Banks Are Cutting At The Fastest Rate Since The Financial Crisis
Is A Global Crash Just Around The Corner? Central Banks Are Cutting At The Fastest Rate Since The Financial Crisis There is something very fishy about the world’s economic situation. On one hand, US president Trump keeps repeating that the US economy is the strongest it has ever been, with global strategists, economists and officials […]
Russian Gas Mega-Pipeline To China Goes Online As Putin & Xi Hail Closer Ties
Russian Gas Mega-Pipeline To China Goes Online As Putin & Xi Hail Closer Ties Late Monday Chinese President Xi Jinping and Russia’s Vladimir Putin jointly launched the major unprecedented cooperative project that had been years in the making called the ‘Power of Siberia’ gas pipeline. The China-Russia east-route pipeline is now providing China with Russian natural gas, which according to […]
Russia Air Launches Hypersonic Missile In Arctic As Tensions Surge
Russia Air Launches Hypersonic Missile In Arctic As Tensions Surge Reuters is reporting that Russian state-owned TASS is making big claims this weekend that a Russian military jet has air-launched a hypersonic missile in the Arctic. TASS cites several Russian military sources, who said a Mikoyan MiG-31 interceptor jet air-launched a Kinjal (Dagger) hypersonic missile over […]
China Braces For December D-Day: The “Unprecedented” Default Of A Massive State-Owned Enterprise
China Braces For December D-Day: The “Unprecedented” Default Of A Massive State-Owned Enterprise Something is seriously starting to break in China’s financial system. Three days after we described the self-destructive doom loop that is tearing apart China’s smaller banks, where a second bank run took place in just two weeks – an unprecedented event for a country where until […]
French MPs Want To Ban Black Friday Because Of “Resource Waste” And “Overconsumption”
French MPs Want To Ban Black Friday Because Of “Resource Waste” And “Overconsumption” Members of the French Parliament are now demanding the government prohibit Black Friday, reported The Independent. French MPs passed an amendment Monday that could make the annual shopping holiday, widely popularized in the US, illegal, warning that a shopping frenzy causes “resources waste” and […]
Ex-BOJ Chief Regrets Not Hiking, Hated QE, Says Sub-1% Interest Rates Don’t Work
Ex-BOJ Chief Regrets Not Hiking, Hated QE, Says Sub-1% Interest Rates Don’t Work Things are going from bad to worse in Japan: 7 years after BOJ chief Kuroda launched QQE (subsequently with yield curve control) while monetizing tens of billions in ETFs, the central banks has failed to boost either Japan’s economy or its inflation, […]
Central Bankers Panic Over Exuberant Financial Market “Fragility”, Warn Risks Are “Underestimated”
Central Bankers Panic Over Exuberant Financial Market “Fragility”, Warn Risks Are “Underestimated” You know it’s bad when… even the central bankers are warning that the monster they’ve created is out of control. As stocks have exploded higher in the face of declining earnings… And collapsing macro-economic data… Policy makers from the world’s central banks are suddenly […]
The History Of Interest Rates Over 670 Years
The History Of Interest Rates Over 670 Years Today, we live in a low-interest-rate environment, where the cost of borrowing for governments and institutions is lower than the historical average. It is easy to see that interest rates are at generational lows, but, as Visual Capitalist’s Nicholas LePan notes below, did you know that they are also […]
International Group Of Doctors Warns Assange Will “Die In Prison” Without Urgent Medical Care
International Group Of Doctors Warns Assange Will “Die In Prison” Without Urgent Medical Care With Washington fighting tooth-and-nail to extradite him from the UK, the notion that Wikileaks founder Julian Assange might die in prison is looking increasingly probable. At this point, it’s more a matter of when: A few weeks, or a few decades. Assange’s […]
China’s ‘Official’ Virtual Currency Could Be Arriving “Quite Soon” To “Challenge The U.S.”
China’s ‘Official’ Virtual Currency Could Be Arriving “Quite Soon” To “Challenge The U.S.” As if the trade war – and soon to be currency war – between China and the U.S. needed another wrench thrown in its gears… China sent cryptocurrencies tumbling on Friday after re-cracking-down on exchanges that are operating illegally against authorities’ ban. […]
Chinese Media Stunner: China Will Be The Next Country To Cut Rates To Zero
Chinese Media Stunner: China Will Be The Next Country To Cut Rates To Zero One week ago, we showed in one chart why the global economic recovery that so many expect is just a few months away, won’t happen: as the chart below shows, China’s credit intensity since 1994 has exploded. This means that before the Global Financial […]
“It’s Not Sustainable:” PG&E Rolling Blackouts To Hit 181,000 Customers Wednesday
“It’s Not Sustainable:” PG&E Rolling Blackouts To Hit 181,000 Customers Wednesday Seriously, every time the wind blows in California, it transforms into a third world country with rolling blackouts. And if you’ve ever been to let’s say South America where this happens frequently, it’s not a pleasant thing to experience. So Californians will get another […]
