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TBTF Mega Banks Lowering Downpayments and Credit Standards to Keep High End Housing Market Going
TBTF Mega Banks Lowering Downpayments and Credit Standards to Keep High End Housing Market Going What do you do when even wealthy people begin to face an increasingly hard time purchasing a home in a vertical market completely disconnected from income trends? You reduce downpayments and lower credit standards, of course. Where have we seen this […]
Deflation, Debt and Gravity
Deflation, Debt and Gravity Far too many people have already used lines like “We Are All Greeks Now” for the words to hold on to much if any meaning by now. But it’s still a very accurate description of what awaits us all. Just not for the same reasons most who used it, did. No, […]
You’re Gonna Need a Bigger Boat
You’re Gonna Need a Bigger Boat Size matters. Just ask Roy Scheider. As incredulous as it may seem, I only recently sat myself down to watch that American scare-you-out-of-the-water staple Jaws for the first time. As a baby born in 1970, the movie at its debut in 1975 was hugely inappropriate for my always precocious, […]
Is Puerto Rico the New Greece?
Is Puerto Rico the New Greece? While the world’s attention has been firmly fixed on Greece’s debt crisis and the “Grexit” threat, there is trouble brewing much closer to home. Staying largely in the Greek shadow, Puerto Rico is on the brink of defaulting on its debts. The parallels with Greece are unavoidable, and not […]
Breaking Down China’s $23 Trillion Debt Pile
Breaking Down China’s $23 Trillion Debt Pile Back in April, we highlighted Beijing’s “massive debt problem“, noting that as of last year, total debt in China amounted to some $28 trillion when you include government debt, corporate debt, and household borrowing. As Bloomberg noted at the time – and as we’ve discussed extensively – Beijing […]
First Default By U.S. Commonwealth In History: Puerto Rico Makes Only 1% Of Required Debt Payment
First Default By U.S. Commonwealth In History: Puerto Rico Makes Only 1% Of Required Debt Payment Over the weekend Puerto Rico was supposed to make a modest principal and interest payment of some $58 million due on Public Finance Corp. bonds, which however few expected would be satisfied. As a reminder, on Friday, Victor Suarez, […]
TransUnion expects spike in debt delinquencies in Alberta, Saskatchewan
TransUnion expects spike in debt delinquencies in Alberta, Saskatchewan Alberta and Saskatchewan will soon see a ‘sharp’ increase in the number of people falling behind on their debts for the rest of this year, credit agency TransUnion says. The debt monitor said in a study released Wednesday that it is expecting the number of consumer credit […]
11 Red Flag Events That Just Happened As We Enter The Pivotal Month Of August 2015
11 Red Flag Events That Just Happened As We Enter The Pivotal Month Of August 2015 Are you ready for what is coming in August? All over America, economic, political and social tensions are building, and the next 30 days could turn out to be pivotal. In July, we saw things start to turn. As […]
We are all Greece
We are all Greece The cast of heroes and villains in Greece’s ongoing battle to save its economy varies depending on who’s telling the story. One simplified narrative depicts the German people as rich and callous overlords inflicting hardship on the downtrodden Greeks. The austerity measures they insist upon are essentially meant to punish the […]
EU’s Greek Debt Austerity Plan Rejected By The IMF
EU’s Greek Debt Austerity Plan Rejected By The IMF I have maintained since the so-called Greek Debt “crisis” began back in 2010, I believe it was, that the imposition of austerity on Greece could not possibly work and that the only solution was to write down the debt to a level that Greece could service […]
An Exasperated Tsipras Calls For Syriza Referendum On Bailout Cancellation
An Exasperated Tsipras Calls For Syriza Referendum On Bailout Cancellation Anyone who thought Greece’s third bailout program was a done deal or that, at the very least, the market would get a few months of respite before having to grapple with daily Grexit headlines again, got a rude awakening late last week when reports of […]
The South American Financial Crisis Of 2015
The South American Financial Crisis Of 2015 Most nations in South America are either already experiencing an economic recession or are right on the verge of one. In general, South American economies are very heavily dependent on exports, and right now they are being absolutely shredded by the twin blades of a commodity price collapse and a […]
Mexican Peso Dives, Fretting Begins About Peso Crisis
Mexican Peso Dives, Fretting Begins About Peso Crisis “Everyone got used to playing with free, easy money. Now it’s going to cost us.” On July 1, the Financial Times wondered just how low the Mexican peso could go, likening the ill-fated currency to a limbo dance: “Every month, it gets just that little bit lower.” In […]
Eurozone Debt Just Keeps Rising—–What Austerity?
Eurozone Debt Just Keeps Rising—–What Austerity? The eurozone is supposedly in a state of recovery. However, in spite of that recovery, public debt and debt-to GGP levels are still rising. Austerity is difficult to find in any realistic sense. Please consider Eurozone Borrowing Rises to Record as Recovery Remains Weak. The European Central Bank’s programme of […]
The Big Bad Bear Case
The Big Bad Bear Case My aim with this article is to outline, with facts, large global structural issues that I believe everyone, bulls and bears alike, should be fully aware of. While some of this discussion may rattle the cage a bit you will hopefully find this article well researched and informative. Recently I’ve outlined […]
