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Keyword: uscrisis

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  • Robert J. Samuelson: Are We Ready For Financial Crisis 2.0?

    10/18/2016 4:40:48 AM PDT · by expat_panama · 34 replies
    Investors Business Daily ^ | Oct. 17, 2016 | ROBERT J. SAMUELSON
    While everyone fixates on the U.S. election, developments in the world economy threaten to create problems for the next president and, possibly, trigger a major financial crisis. A little-noticed study by the International Monetary Fund (IMF) delivers the bad news. It finds that global debt -- including the debts of governments, households and non-financial businesses -- reached a record $152 trillion in 2015, an amount much higher than before the 2008-09 financial crisis. What's worrisome about this is that the global economic recovery has assumed widespread "deleveraging" -- the repayment of debt by businesses and households. Initially, the theory went,...
  • Bank of America has a recession warning that's downright 'scary' (Wall St & MSM pivot on Hillary)

    10/10/2016 12:56:12 PM PDT · by MarchonDC09122009 · 57 replies
    Yahoo Finance ^ | 10/09/2016 | Stephanie Landsman
    <p>Bank of America has a recession warning that's downright 'scary'</p> <p>There's a chilling trend in the market, and it could wreak havoc on your portfolio, a top market watcher said.</p> <p>"We are seven years into a full-fledged, all out, central bankers doing everything they can to stimulate demand," Bank of America-Merrill Lynch's head of U.S. equity and quantitative strategy Savita Subramanian recently warned on CNBC's " Fast Money ."</p>
  • HEDGE FUND LEGEND JULIAN ROBERTSON: Everything is in a bubble and it will end in 'chaos'

    09/29/2016 4:06:55 AM PDT · by expat_panama · 30 replies
    Business Insider ^ | September 28, 2016 | Bob Bryan
    Julian Robertson, the legendary hedge fund manager behind Tiger Management, thinks central banks are fueling bubbles throughout financial markets. "We don't have negative rates here in the States yet, but I think it's tragic that we've taken rates down this far," Robertson said this week at Bloomberg's Surveillance Primetime event. "I know the Federal Reserves all over the world are trying to ensure prosperity, but in doing so I think they are ensuring a huge bubble, which will be pricked, and we will all be hurt by it." Negative and near-zero interest rates from central banks have allowed increased borrowing......
  • Even Monetary Authorities Think We're In a Depression

    09/09/2016 3:55:45 AM PDT · by expat_panama · 33 replies
    Real Clear Markets ^ | September 9, 2016 | Jeffrey Snider
    You probably aren't aware because it isn't a topic that gets discussed much if at all on the outside, but increasingly even monetary policymakers are coming around to the idea that we are in a depression. What choice do they have, really, since practically any chart of any economic account in any economy shows as much. The gathering in Jackson Hole late last month was really an internal discussion in how to think about keeping current central bank frameworks alive in such a world. Earlier this week, San Francisco Fed President (and CEO) John C. Williams spoke in Nevada on...
  • Hyperinflation Versus Deflationary Collapse

    09/08/2016 6:35:13 AM PDT · by blam · 16 replies
    TMO ^ | 9-8-2016 | Darryl_R_Schoon
    Darryl R Schoon August 8, 2016 If the thunder don’t get you, then the lightning will… The Grateful Dead, The Wheel(lyrics) In the world of phenomena, everything has a beginning and an end; and today, the bankers’ endgame is moving closer to its inevitable resolution and demise. The question is no longer if, it is when and how. The relationship between paper money and gold is causal in central banking’s collapse. When paper money was backed by gold, it (1) gave the bankers’ paper money its value and (2) constrained the ability of governments to print limitless amounts of money,...
  • The Fed may be preparing for the unthinkable — negative interest rates in America

    09/04/2016 12:30:58 AM PDT · by SaveFerris · 194 replies
    Yahooooo ^ | 12 hours ago | John Mauldin, Yahoo Finance Contributor
    Negative interest rates are spreading like a virus. Central banks in the Eurozone, Switzerland, Sweden, and Japan all have below-zero policy rates. “NIRP,” as economists call a negative interest rate policy, is a desperation move—but the only move those central banks have. The Federal Reserve hasn’t followed—yet. When the next recession strikes, I believe Janet Yellen will choose to break the zero lower bound. The rationale was laid out in Jackson Hole. Look behind the headlines and you’ll see the Fed already preparing for NIRP. In theory, negative rates should encourage consumers and businesses to spend more freely and stimulate...
  • Why record low interest rates are a cause for alarm, not celebration

    06/13/2016 1:39:26 PM PDT · by Lorianne · 4 replies
    Telegraph (UK) ^ | 11 June 201 | Jeremy Warner
    UK rates may be at an all time low, but they are even lower elsewhere, particularly on the Continent, where the European Central Bank has been so busy buying up government debt that in Germany and Holland the stock of available bonds has been almost completely exhausted. There is virtually no yield left at all on 10 year German bunds, against which their UK equivalent look positively bountiful. So utterly desperate has this hunger for yield become that there are now an astonishing $10 trillion of government bonds worldwide trading on a negative interest rate. Some corporate borrowers too have...
  • How negative interest rates are undermining the economy

    06/13/2016 1:33:50 PM PDT · by Lorianne · 9 replies
    Money Week ^ | 10 June 2016 | John Stepek
    was talking about the bond bubble earlier this week. Seems I’m not the only one who’s a bit worried. Bill Gross, founder of Pimco (now at Janus Capital), tweeted “Global yields lowest in 500 years of recorded history… This is a supernova that will explode one day.” Aside from making the pedantic point that a supernova is itself an explosion (according to my limited knowledge of astronomy at least), I find little to disagree with here. The big question is – when will the bubble burst? We discussed that on Monday. But in the meantime, it’s worth asking – what...
  • Credit-Card Debt Approaching Pre-Collapse High — Thanks To Subprime Lending

    05/21/2016 11:10:01 AM PDT · by MarvinStinson · 31 replies
    HotAir ^ | May 20, 2016 | Ed Morrissey
    Today’s Wall Street Journal report on record levels of credit-card and auto-loan debt sound like a stroll down Memory Lane: U.S. credit-card balances are on track to hit $1 trillion this year, as banks aggressively push their plastic and consumers grow more comfortable carrying debt. That sum would come close to the all-time peak of $1.02 trillion set in July 2008, just before the financial crisis intensified, and could signal an easing of frugal habits ingrained by the recession. The boom has been driven by steady economic conditions and an improving job market that have made creditworthy consumers less reluctant...
  • Fed may need more powers to support securities firms during crises: Dudley

    05/08/2016 6:45:20 PM PDT · by Lorianne · 31 replies
    Reuters ^ | 01 May 2016 | Lindsay Dunsmuir
    The U.S. Federal Reserve may need more powers to provide emergency funding to securities firms in times of extreme stress in order to deal with a liquidity crunch, New York Federal Reserve President William Dudley said on Sunday. "Providing these firms with access to the discount window might be worth exploring," Dudley said in prepared remarks at a financial markets conference in Amelia Island, Florida organized by the Atlanta Fed. The discount window is a credit facility through which banks borrow directly from the U.S. central bank in order to cope with liquidity shortages. The Fed currently has limited ability...
  • Burning Down the House in 2016

    02/22/2016 7:08:24 AM PST · by Travis McGee · 86 replies
    Western Rifle Shooters Association ^ | February 22, 2016 | Matthew Bracken
    Hold tight, wait 'til the party's over. Hold tight, we're in for nasty weather. There has got to be a way Burning down the house. By now, it should be obvious to the observant that the 'scoundrels-looting-the-treasury' phase of our economic arc is about played out, and before the entire rotten financial edifice collapses, there will be a war ignited across Europe and the Middle East which will serve as a distraction for the masses, while the very worst of the scoundrels take to ground to wait for the smoke to clear before they emerge. The gangsters actually directing the...
  • One of the nation’s largest pension funds could soon cut benefits for retirees

    04/21/2016 8:26:05 AM PDT · by pabianice · 26 replies
    MSN ^ | 4/21/16 | Marte
    More than a quarter of a million truckers, retirees and their families could soon see their pension benefits severely cut — even though their pension fund is still years away from running out of money. Within the next few weeks, the Treasury Department is expected to announce a crucial decision on whether it will approve reductions to one of the country’s largest multi-employer pension plans. The potential cuts are possible under legislation passed by Congress in 2014 that for the first time allowed financially distressed multi-employer plans to reduce benefits for retirees if it would improve the solvency of the...
  • "This Is Going To Be A National Crisis" - One Of The Largest U.S. Pension Funds Set To Cut Retiree

    04/20/2016 7:28:06 PM PDT · by Nachum · 78 replies
    zero hedge ^ | 4/20/16 | Tyler Durden
    A dark storm is brewing in the world of private pensions, and all hell could break loose when it finally hits. As the Washington Post reports, the Central States Pension Fund, which handles retirement benefits for current and former Teamster union truck drivers across various states including Texas, Michigan, Wisconsin, Missouri, New York, and Minnesota, and is one of the largest pension funds in the nation, has filed an application to cut participant benefits, which would be effective July 1 2016, as it "projects" it will become officially insolvent by 2025. In 2015, the fund returned -0.81%, underperforming the 0.37%...
  • Simple Math Shows America Is Headed for an Economic Disaster

    04/18/2016 7:21:40 PM PDT · by george76 · 52 replies
    The Daily Reckoning ^ | March 30, 2016 | Jody Chudley
    Stan Druckenmiller ... when I look at the current picture of expected tax revenues combined with benefits promised to future generations, this is the most unsustainable situation I have seen ever in my career. The disaster that Druckenmiller sees coming for the United States is all about changing demographics and entitlement spending. They don’t add up to a sustainable situation. In 1940, entitlement payments, which include everything from disability payments to Social Security to Medicare, amounted to just over 20% of annual government spending in the United States. Today, entitlement spending has swelled to nearly 70% of the annual federal...
  • Trump and Cruz predict stock market crash

    04/15/2016 11:31:37 AM PDT · by Reeses · 46 replies
    CNN Money ^ | April 15, 2016 | Heather Long
    The two leading Republican candidates for president warn the U.S. stock market is trading at an alarming level. On Friday, Ted Cruz predicted a stock market "crash will be coming." Donald Trump calls it a "terrible time" to invest. "We're in a bubble right now," Trump says. It's a high degree of fear from a party that is normally viewed as pro-business and pro Wall Street. Trump recently told The Washington Post that America is on track for a "very massive recession."
  • US banks not prepared for another financial crisis, say federal regulators

    04/14/2016 6:42:10 PM PDT · by Lorianne · 10 replies
    Guardian UK ^ | 13 | Jana Kasperkevic
    Some of the US’s biggest banks still lack a proper plan for bankruptcy, in the event of another major financial crisis, US regulators said on Wednesday. In the wake of the great recession banks were required to come up with “living wills” to prove they had a credible plan for bankruptcy that would not require another bailout from the taxpayers. But after reviewing the plans of five institutions – JP Morgan Chase, Wells Fargo, Bank of America, Bank of New York Mellon and State Street Corp – the Federal Reserve and the Federal Deposit Insurance Corp (FDIC) have determined that...
  • "It's Probably Nothing": Truck Orders Plunge 37% As Unsold Inventories Soar Most Since 2007

    04/07/2016 10:02:43 PM PDT · by Nachum · 40 replies
    zero hedge ^ | 4/7/16 | tyler durden
      When we last looked at order of heavy, or Class 8, truck one quarter ago - that all-important, forward looking barometer of domestic trade - we said that even with 2015 in the history books, and as we start 2016 where the base effect was supposed to make the annual comps far more palatable, the latest, January data, as abysmal: "the drop continues to be one of Great Recession proportions, manifesting in yet another massive 48% collapse in truck orders in the first month of the year as demand appears to have gone in a state of deep hibernation."Fast...
  • 19 Facts That Prove Things In America Are Worse Than They Were Six Months Ago

    04/07/2016 9:49:03 PM PDT · by Nachum · 36 replies
    zero hedge ^ | 4/7/16 | tyler durden
    While we all very capable of discerning the 'recovery' facts from the peddled recovery fiction throughout President Obama's reign... ...a close up over the last six months suggests things are getting worse in a hurry. As The Economic Collapse blog's Michael Snyder details, while most people seem to think that since the stock market has rebounded significantly in recent weeks that everything must be okay, that is not true at all. Has the U.S. economy gotten better over the past six months or has it gotten worse?  In this article, you will find solid proof that the U.S. economy has continued...
  • Bond Guru Says Trump Nomination Could Bring Down World Economy

    03/22/2016 12:51:57 PM PDT · by Innovative · 71 replies
    Fortune ^ | March 21, 2016 | Reuters
    Jeffrey Gundlach, the widely followed investor who runs DoubleLine Capital, foresees a “global growth scare” between now and the end of the summer, triggered by a presidential nomination of Donald Trump. “That is where I see the vulnerabilities,” Gundlach said in a telephone interview on Monday. Trump’s protectionist policies could mean negative global growth, Gundlach warned. “As he gets the nomination, the markets and investors are going to worry about it more. You will see a downgrading of global growth based on geopolitical risks. You must factor this into your risk-management.”
  • Stop fracking? Shatter the economy

    03/22/2016 10:55:55 AM PDT · by JimSEA · 5 replies
    The Hill ^ | 3/21/16 | Paul Sullivan
    Fracking accounts for close to 50 percent of all natural gas and oil production. Our production of natural gas from shale fields and tight gas has increased by 40 billion cubic feet per day since 2002. Our production of shale and tight oil from fracking has increased by 4 million barrels a day since 2002. Fracking is one of the main reasons why oil and natural gas prices are so low. That also makes it one of the main reasons why gasoline and diesel prices are so low, and electricity prices have dropped in many areas. Crude oil is the...