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Ryan McMaken: The European Central Bank Finally Throws in the Kitchen Sink
RYAN MCMAKEN: THE EUROPEAN CENTRAL BANK FINALLY THROWS IN THE KITCHEN SINK Back in January, ECB President Mario Draghi doubled down on his earlier commitment to do “whatever it takes” to prop up the European economy with easy money.” “There are no limits to how far we’re willing to deploy our instruments,” Draghi swore in January. He […]
Credit Card Debt In The United States Is Approaching A Trillion Dollars
Credit Card Debt In The United States Is Approaching A Trillion Dollars For the first time ever, total credit card debt in the United States is approaching a trillion dollars. Instead of learning painful lessons from the last recession, Americans continue to make the same horrendous financial mistakes over and over again. In fact, U.S. […]
Court Decision Could Accelerate Oil And Gas Bankruptcies
Court Decision Could Accelerate Oil And Gas Bankruptcies Oil and gas data experts Evaluate Energy showed yesterday that U.S. E&Ps took a huge hit in 2015. With the value of total proved reserves in the sector declining by an astounding $515 billion dollars. The chart below shows just how great the damage is, compared to […]
Canada’s debt-to-income ratio sets new record high at 165%
Canada’s debt-to-income ratio sets new record high at 165% Canadians now owe $1.65 for every dollar of income they have at their disposal. (Joe Raedle/Getty Images) The ratio of household debt to disposable income hit a new record in the fourth quarter of last year. Statistics Canada says the ratio rose to 165.4 per cent […]
The ECB – A Victim of its own Ignorance?
The ECB – A Victim of its own Ignorance? “Rates will stay low, very low, for a long period of time and well past the horizon of our purchases,” Draghi declared. “From today’s perspective and taking into account the support of our measures to growth and inflation, we don’t anticipate that it will be necessary […]
German bank that almost failed now being paid to borrow money
German bank that almost failed now being paid to borrow money The 12.5 hours spent crossing the Pacific on Qantas flight 27 feels like going through a wormhole. The flight departs Sydney, Australia at 12:50pm and arrives to Santiago, Chile the same day at 11:20am. In other words, the plane lands 90 minutes before it […]
Albertans have highest debt load in Canada, Equifax says
Albertans have highest debt load in Canada, Equifax says Consumer debt delinquencies jump 25% in province, 17% in Calgary Consumer debt in Alberta has jumped 17 per cent. (Joe Raedle/Getty Images) Albertans have the highest average debt load in the country at more than $27,000, says Equifax Canada. A study released this morning says consumer debt delinquencies in the […]
The World Economy Wreckers Of Beijing
The World Economy Wreckers Of Beijing The desperate suzerains of the Red Ponzi are incorrigible. There appears to be no insult to economic rationality that they will not attempt in order to perpetuate their power, privileges and rule. So now comes the most preposterous gambit yet. Namely, a veritable tsunami of state handouts to foster, yes, capitalist […]
Are You Kidding Me? Chinese Exports Plunge 25.4 Percent Compared To Last Year
Are You Kidding Me? Chinese Exports Plunge 25.4 Percent Compared To Last Year We just got more evidence that global trade is absolutely imploding. Chinese exports dropped 25.4 percent during the month of February compared to a year ago, and Chinese imports fell 13.8 percent compared to a year ago. For Chinese exports, that was the worst decline that […]
Why This Sucker Is Going Down——The Case Of Japan’s Busted Bond Market
Why This Sucker Is Going Down——The Case Of Japan’s Busted Bond Market The world financial system is booby-trapped with unprecedented anomalies, deformations and contradictions. It’s not remotely stable or safe at any speed, and most certainly not at the rate at which today’s robo-machines and fast money traders pivot, whirl, reverse and retrace. Indeed, every day there are new ructions […]
The Financial System Is A Larger Threat Than Terrorism
The Financial System Is A Larger Threat Than Terrorism In the 21st century Americans have been distracted by the hyper-expensive “war on terror.” Trillions of dollars have been added to the taxpayers’ burden and many billions of dollars in profits to the military/security complex in order to combat insignificant foreign “threats,” such as the Taliban, […]
China: A 5-Year Plan And 50 Million Jobs Lost
China: A 5-Year Plan And 50 Million Jobs Lost Arnold Genthe San Francisco , Chinatown. The street of the gamblers at night 1900China never had an actual economic model or growth model. It simply printed an obscene amount of money, especially after 2008, and used it to build factories, 30-story see-through apartment blocks and highways into nowhere […]
John Perkins: The Shadow World Of The Economic Hitman
John Perkins: The Shadow World Of The Economic Hitman An exposé of the ugly global battle for control of resources If you’re hoping to have a ‘feel good’ day today, we’re about to owe you an apology. John Perkins, author of The New Confessions of an Economic Hit Man, is someone we’ve been trying to get […]
Where Negative Interest Rates Will Lead Us
WHERE NEGATIVE INTEREST RATES WILL LEAD US Despite zero-interest-rate-policy (ZIRP) and multiple quantitative easing programs — whereby the central bank buys large quantities of assets while leaving interest rates at practically zero — the world’s economies are stuck in the doldrums. The central banks’ only accomplishment seems to be an increase in public and private […]
Prelude to a Bailout
Prelude to a Bailout But is Pemex too big to save for Mexico? Mexico’s biggest company, state-owned oil giant Pemex, notched up 13 consecutive quarters of rising losses and now faces the toughest test of its 78-year existence: staying alive. Pemex just published its annual results for 2015. Even with expectations already at the bottom of the […]
