By Riley Griffin | 19 September 2018 BLOOMBERG — As U.S. household debt rises and wages stagnate, millions of Americans are thinking about tapping into home equity to keep up with day-to-day expenses. Twenty-four million homeowners believe borrowing against home […]
By Jamie Nimmo | 15 September 2018 DAILY MAIL — A subprime mortgage lender set up by former Northern Rock directors is to sell £500 million of controversial mortgage-backed securities in a deal that has alarming […]
In the following passages, The New Nationalist (TNN) cherry picked and abridged a lengthy article by Greek writer Michael Nevradakis to give our readers a synopsis of how Greece fits into the scheme of wildcat parasite guild globalization. John Perkins, […]
America is the abusive psychopathic ex-boyfriend that never stops stalking you after the relationship ends. Every day, another round of sanctions and tariffs makes the case against continuing to do business with the U.S. stronger. […]
By Tyler Durden | 13 August 2018 ZERO HEDGE — The sheer pandemonium in Turkey continues. It’s not just Turkey’s currency and sovereign bonds that have resumed their plunge today: Turkish stocks are all sharply […]
Turkey is in a full-blown debt and currency collapse. Earlier this week, the country’s treasury sold 539.7 million lira of 5-year notes at 22.1 percent. Vampire squid Goldman Sachs has opined on Turkey’s banks: “We […]
By Tyler Durden | 31 July 2018 ZERO HEDGE — We may have an idea what was the (leaked) reason for today’s selloff in Treasurys, which pushed the 10Y yield just shy of 3.00%. According to the […]
Use of this financial instrument has ballooned. No one knows to what extent because there’s no disclosure. But it was a ‘key contributor’ to the sudden collapse of outsourcing giant Carillion. By Wolf Richter | […]
The notion that the Trumptards who supported and still support the Red Queen think he is some populist godhead leader is beyond the pale. Last year, he teamed up with his kleptocratic allies to deliver […]
By Charles Hugh Smith | 8 July 2018 OF TWO MINDS — I know it hurts, but the reality is painfully obvious: the USA is now a 3rd World nation. Dividing the Earth’s nations into 1st, 2nd […]
By Tyler Durden | 21 May 2018 ZERO HEDGE — Tired (or maybe bored) of worrying about rising interest rates, a rising dollar and higher oil prices? Then fear not, because according to Bloomberg macro strategist […]
Public economic confidence by some measures and in some quarters is quite high. My hypothesis is that the haves are still feeling self-satisfied about their hyper-inflated $900,000 shacks and fantasy social media surveillance/police state FANG […]
After the party, the hangover. By Wolf Richter | 8 May 2018 WOLF STREET — Total consumer credit rose 5.1% in the first quarter, compared to a year earlier, or by $184 billion, to $3.824 trillion […]
By Simon Black | 26 June 2017 SOVEREIGN MAN — Two more Italian banks failed over the weekend– Banco Popolare di Vicenza and Veneto Banca. (In other news, the sky is blue.) The Italian Prime Minister […]
Donald Trump reached deep into the belly of the beast of Wall Street for his administration’s key economic positions. His choices signal that the U.S. will be subjected to brutal Parasite Guild measures, including privatizations via the […]
Even uber-doves are now looking over their shoulder. By Wolf Richter | 2 February 2018 WOLF STREET — There have been all kinds of carefully phrased semi-hawkish statements emanating from carefully contained semi-hawkish Fed governors recently. […]
TALY’s anti-EU populists have dropped plans to leave the euro if elected in the upcoming March election and are now plotting to undermine the monetary union from within the bloc. By Leigh Boobyer | 18 January […]
The term “wildcat banking” refers to non-federally regulated U.S. state banking between 1816 and 1863, also known as the Free Banking Era. It resulted in widespread bank failures. A modern form of this approach would involve […]
“When a government compulsorily overvalues one type of money and undervalues another, the undervalued money will leave the country or disappear from circulation into hoards, while the overvalued money will flood into circulation.” — Sir Thomas Gresham (Gresham’s […]
Sleeping Americans might want to watch Trumpian former grand strategist Steve Bannon’s “Generation Zero” documentary below. It well describes how sick and near death the U.S. is as a debt-enslaved target of the Parasite Guild. […]
By David Dayen | 28 September 2017 THE INTERCEPT — Puerto Rico has rejected a bondholder group’s offer to issue the territory additional debt as a response to the devastation from Hurricane Maria. Officials with Puerto Rico’s […]
Farmers’ tractors and news cameras will be rolling in Catalonia Sunday morning as Catalans head to polling stations to vote once again on whether to secede from Spain. Spain’s constitutional court ruled such a vote […]
By Don Quijones | 8 August 2017 WOLF STREET — New statistical data from the investment bank Jefferies LLC has revealed a startling new trend that could have major implications for Europe’s economic future: Italian banks […]
Commodity Futures Trading Commission (CFTC) data shows “somebody” is aggressively piling on bets against (short) stock market volatility. In effect, they are gambling that the VIX, or market volatility, will move even lower than the […]
By Tyler Durden | 13 June 2017 ZERO HEDGE — With the US shale industry producing at near-record levels as oil prices languish around $50 a barrel, cities in oil-dependent states like Texas are resorting to […]
By Tyler Durden | 12 June 2017 ZERO HEDGE — On June 1, first S&P the Moody’s almost concurrently downgraded Illinois to the lowest non-Junk rating, BB+/Baa3 respectively, with both rating agencies warning that the ongoing […]
30 May 2017 ABC NEWS (AP) — Venezuela opposition leaders are decrying Goldman Sachs Group Inc.’s purchase of bonds from the socialist government of President Nicolas Maduro, who has been targeted by almost two months of […]
By Brandon Smith | 24 May 2017 ALT-MARKET — Last week was a rather crazy one for the news feeds, with cyber attacks and “Comey memos” and a host of other wild mayhem, it may have […]
By Tyler Durden | 22 May 2017 ZERO HEDGE — Last week, the Greek parliament once again approved more austerity to unlock withheld Greek bailout funds in Brussels: a symbolic move, which has little impact without […]
The axis of evil rises again. The U.S., Israel and their dupe and proxy Saudi Arabia are hard at work making sure the Middle East is flooded with weaponry in preparation for a planned escalation […]
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