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Why the Wild Descent of Oil Is Cause for Concern
Why the Wild Descent of Oil Is Cause for Concern Low prices once signalled good news for the global economy. Not this time. Global markets now behave like digital roller-coasters from China to Europe. Oil photo via Shutterstock. The signs of oil’s madcap price collapse are everywhere. Global markets now behave like digital roller-coasters from China to […]
The Increasingly Fragile Upper-Middle Class
The Increasingly Fragile Upper-Middle Class Many of these apparently high incomes are completely absorbed by high-cost upper middle class expenses. Since the top 10% takes home 50% of all household income, it follows that this top slice has most of the discretionary cash, i.e. net income left after taxes, servicing debt and paying for essentials […]
Meanwhile In Greece, Familiar Scenes Are Back: General Strike, Molotov Cocktails, Tear Gas
Meanwhile In Greece, Familiar Scenes Are Back: General Strike, Molotov Cocktails, Tear Gas Greece was fixed for a few months, when the so-called “anti-austerity” government of PM Tsipras which came to power just over a year ago did what each on its predecessors did by kicking the can and trading off what little sovereignty Greece […]
Meridian credit union offers 1-year mortgage at 1.69%
Meridian credit union offers 1-year mortgage at 1.69% Spring mortgage wars start early, as member-owned lender makes new low offer to homebuyers Meridian credit union just offered a one-year mortgage at 1.69 per cent. (Daniel Munoz/Reuters) Alternative lender Meridian has launched the first shot in the spring mortgage wars with a one-year fixed mortgage rate […]
Meet China’s Latest $1.8 Trillion “Problem”
Meet China’s Latest $1.8 Trillion “Problem” Last summer we outlined how Chinese banks obscure trillions in credit risk. The powers that be in Beijing aren’t particularly keen on allowing the banking sector to report “real” data on souring loans – especially given the fragile state of the country’s economy. In some cases, the Politburo will pressure banks […]
Puerto Rico “Generously” Offers To Repay 54 Cents On The Dollar To Creditors Owed $70 Billion
Puerto Rico “Generously” Offers To Repay 54 Cents On The Dollar To Creditors Owed $70 Billion Height Securities’ Daniel Hanson is “deeply skeptical” about the viability of Puerto Rico’s proposal for restructuring the island’s $70 billion in debt. Hanson, in a note out late last week, said Governor Alejandro Padilla was “significantly unlikely” to present […]
More Oil and Gas Bankruptcies Are Assured
More Oil and Gas Bankruptcies Are Assured 2015 was a terrible year for energy investors, but many investors and even corporate officers may be deluding themselves in believing that if they simply hold on, the good times will return. The reality is that for many oil companies, the future is already written. In the last […]
US national debt accelerating at over a trillion/year in our asset-hole ‘debt supply’ system; demanding monetary reform & public banking yet?
US national debt accelerating at over a trillion/year in our asset-hole ‘debt supply’ system; demanding monetary reform & public banking yet? The US federal government debt is now $19 trillion, having risen over a trillion each year of the Obama administration. This article will examine US economic status, and obvious solutions promoted by many of America’s brightest minds […]
The West Is Traveling The Road To Economic Ruin
The West Is Traveling The Road To Economic Ruin Michael Hudson is the best economist in the world. Indeed, I could almost say that he is the only economist in the world. Almost all of the rest are neoliberals, who are not economists but shills for financial interests. If you have not heard of Michael […]
Interview With Dr. Emma Dawnay on the Swiss Referendum on Monetary Reform
INTERVIEW WITH DR EMMA DAWNAY ON THE SWISS REFERENDUM ON MONETARY REFORM The following questions have been answered by Dr Emma Dawnay, on behalf of Monetäre Modernisierung, the organisation bringing the Swiss Sovereign Money Initiative (or Vollgeld-Initiative in German). The interviewer is The Cobden Centre Editor, Max Rangeley. How does the current monetary system affect […]
Mining Industry in Collapse
Mining Industry in Collapse The mining industry is in collapse. Everyone expanded dramatically expecting China to never stop buying. The loading up of debt is still likely to see many companies get in trouble. It is likely to see the entire industry be downgraded on a wholesale basis. Those looking at the miner stocks, […]
Square Holes and Currency Pegs
Square Holes and Currency Pegs When David Bowie died, everybody, in what they wrote and said, seemed to feel they owned him, and owned his death, even if they hadn’t thought about him, or listened to him, for years. In the same vein, though the Automatic Earth has been talking about deflation (for 8 years, […]
Another Reason Why the Middle Class and the Velocity of Money Are in Terminal Decline
Another Reason Why the Middle Class and the Velocity of Money Are in Terminal Decline This has three extremely negative consequences. In response to a recent post on the structural decline in the velocity of money, correspondent Mike Fasano described a key dynamic in both the decline of money velocity and the middle class. “There […]
Soon Comes The Deluge
Soon Comes The Deluge The robo-machines are now having a grand old time hazing the August lows at 1870 on the S&P, and may succeed in ginning up another dead-cat bounce or two. But this market is going down for the count owing to a perfect storm. To wit, the global and US economies are heading […]
