The Average Millennial Has $27,900 In Debt And Feels Very Guilty Millennials carry an average of $27,900 in debt, not including mortgages, according to new data released today by Northwestern Mutual. Gen Z, the oldest of whom are now 22 years old, have an average debt of $14,700. Having sizable debt at a young age “is … Read more
The number of local bank branches continues to dwindle as big players like McLean-based Capital One Financial Corp. (NYSE: COF), Atlanta-based SunTrust Banks Inc. (NYSE: STI) and Winston-Salem, North Carolina-based BB&T Corp. (NYSE: BBT) cut dozens of branches, according to new data. The D.C. metro area saw its overall number of bank branches drop by 57, from 1,549 to 1,492 from … Read more
by Charles Hugh Smith Editor’s note: Central banks have inflated bubble after bubble. Today, Daily Reckoning contributor Charles Hugh Smith shows you the three stages of bubbles – with a fourth for good measure. He also addresses how long the show can go on. Dear Reader, Financial bubbles manifest three dynamics: The one we’re most familiar with … Read more
Voters don’t choose candidates based on ideology, NBC?: http://archive.is/PSnHy
(Bloomberg) — A pair of lawsuits targeting entities that JPMorgan Chase & Co. and Capital One Financial Corp. use to bundle credit-card loans into bonds could threaten the future of the $563 billion market for debt backed by consumer obligations. At issue is whether credit card interest rates can be considered usurious. A Civil War-era … Read more
Trade tensions, oil shock cloud Fed efforts to steer clear of recession It’s been an eventful six weeks for the global economy, complicating the Federal Reserve’s efforts to steer the U.S. economy through a dark global outlook facing increasing uncertainty. Since the Fed’s July 31 decision to cut rates for the first time in over a … Read more
via aier.org: We increasingly live in a new “dark age” of economic ignorance, and even stupidity. Few things exemplify this trend as much as the call for price controls over the interactions of multitudes of people in the marketplace of supply and demand. There are few government interventionist policies as likely to disrupt, distort, and imbalance the actions … Read more
by youme “California’s New Rent Control Law Will Make Its Housing Shortage Worse “The latest ill-conceived policy from California is a statewide rent cap. As the New York Times reported this week: The bill limits annual rent increases to 5 percent after inflation and offers new barriers to eviction, providing a bit of housing security in … Read more
by Ono 1) Ca. has more military bases than any other state in the Union many which are very strategic (Vandenberg, Camp Pendelton, Miramar, Seal Beach…) http://www.militarybases.us/by-state/ 2) The Dems would loose massive amounts of electoral votes as well as house representatives https://www.answers.com/Q/Number_of_representatives_in_California I live in Ca and am hoping that the tide is turning … Read more
by A2 On Monday, all PRC papers published a speech made by Xi Jinping to a Party meeting in 2014. The speech was a roadmap on the Party’s correct path, but warned that they faced enemies within and without to establishing the China dream. The ultimate collapse of capitalism and the victory of communism with … Read more
Absurdity to a whole new level. CEO confidence plunging and completely diverging from stocks. The most since GFC! Corporate leaders rapidly losing faith in the economy;Yield curve inversions out the wazoo;Debt imbalances everywhere; How can stocks be at record valuations? pic.twitter.com/jv8ud6kW55 — Otavio (Tavi) Costa (@TaviCosta) September 16, 2019 2. CITI: “It may be that … Read more
by AC This guy practically lives at the airport. He told me about all the safety procedures. Theres a log book. Like a plane diary for each and every aircraft. All the repairs and previous repairs and mechanic notes and speculations go in this diary. Every aircraft mechanic has someone watching them as they make … Read more
Well worth a watch: Lib Dem leader Jo Swinson MP is challenged on her party’s decision to cancel Brexit if they win a general election despite Leave winning a majority in the 2016 referendum. Broadcast on 16/09/19 PINK
JUST IN: Iran's supreme leader rules out talks with US at all levels https://t.co/K5aavtOtvB pic.twitter.com/d6U2XGybRH — The Hill (@thehill) September 17, 2019 Iran’s supreme leader on Tuesday reportedly ruled out any talks with the U.S. amid increased tensions between the two nations in the wake of crippling attacks at oil facilities in Saudi Arabia. “There … Read more
The NYT put out a fake story about Kavanaugh and they were caught so the made a correction, but why did they do it. The presidential candidates jumped on board and called for the impeachment of Kavanaugh. Obama and friends prepare to defend McCabe. Trump point the finger and DS corruption on how they make … Read more
from Zero Hedge Late last Friday, we warned that a “dollar funding storm” is set to make landfall in the US amid a series of converging sources of pressure that we said would result in “secured funding markets breaking higher”, among which: elevated UST supply, bloated dealer balance sheets and year-end regulatory constraints, and a banking … Read more
by ron paul The recent attacks on Saudi oil facilities by Yemeni Houthi forces demonstrate once again that an aggressive foreign policy often brings unintended consequences and can result in blowback. In 2015 Saudi Arabia attacked its neighbor, Yemen, because a coup in that country ousted the Saudi-backed dictator. Four years later Yemen is in … Read more
