Shades Of 2007: Subprime Auto Lender Verified Income On Only 3% Of Loans In Latest Bond

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via Zerohedge: The US subprime auto industry is doing everything in its power to recreate another 2008 crisis. After all, it takes a (Potemkin) village. One of the largest subprime auto finance companies, Santander Consumer USA Holdings, verified the income on less than 3% of borrowers this year, according to Bloomberg.  And in painfully vivid shares of 2008, it … Read more

2 Letters; $20 Billion Lost

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Submitted by Adventures in Capitalism Over the past few months, we’ve learned a lot about the psyche of the typical Ponzi Sector investor. You see, Ponzi sector investors will ignore most red flags, even at a company like WeWork, with more red flags than a Soviet May Day parade; Super-voting stock – Zuck did that and it … Read more

Which States Could Suffer the Most From Trade War Tariffs?

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by howmuch As the U.S. continues to impose tariffs on goods from China, and vice versa, both countries are raising the stakes of the ongoing trade war. The new 15% tariff on Chinese goods just kicked in, and Asian markets are already feeling the effects. But the U.S. economy is also affected by these ever-escalating tariffs. Our newest visualization … Read more

Citizens of California. When will you rise up against this corruption?

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Wolf Richter wolfstreet.com, http://www.amazon.com/author/wolfrichter Californians have had it with PG&E, a convicted felon infamous for sacrificing safety, maintenance, reliability, and people to enhance “shareholder value.” But is San Francisco overpaying? Take a look. This – the offer made on Sunday – has been kicked around in San Francisco since the catastrophic wildfire in Butte County … Read more

Federal Reserve Chair Jerome Powell Insists There Won’t Be A Recession When All The Evidence Suggests Otherwise

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by Michael Snyder It’s happening again.  Just like last time around, the head of the Federal Reserve is telling us that there won’t be a recession even though all of the evidence suggests otherwise.  Just before the recession of 2008, Federal Reserve Chair Ben Bernanke told the country that “the Federal Reserve is not currently forecasting … Read more

Here’s why I think China is the next “big short”

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by ComicalEconomical TL;DR at the bottom. Point 1: Defaults in China have been accelerating aggressively, and through July 2019, 274 real estate developers filed for bankruptcy, up 50% over last year. A bonus? Many Chinese state controlled banks have been filing for bankruptcy as well. Just google “china bank defaults” or something similar. Notice how many articles there are … Read more

JPMorgan has a new index — called the “Volfefe Index” — that measures Trump’s tweets and their impact on bond volatility. Among JPMorgan’s findings: there’s been an increase in what they call “market-moving tweets” — Trump tweets which are immediately followed by a volatility spike.

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by gubbsbe Source and graphs: JPMorgan has a new index — called the “Volfefe Index” — that measures Trump’s tweets and their impact on bond volatility. (1/x) pic.twitter.com/D37ocdebxk — Carl Quintanilla (@carlquintanilla) September 8, 2019

It really is stunning the amount of $$ thrown at WeWork. Softbank invests at a $47 bln valuation – now likely worth only $20 bln!!??

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It really is stunning the amount of $$ thrown at WeWork. Softbank invests at a $47 bln valuation – now likely worth only $20 bln!!?? SoftBank employess face loss and possibly on hook for losses!!?? pic.twitter.com/r0bD8AE5Od — Dave Floyd (@DaveFloydTrader) September 9, 2019 https://t.co/DkVge3Fetx — mcm-ct.com (@mcm_ct) September 9, 2019

Number of paid music streaming subscribers worldwide

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by theimpossiblesalad Source: spotify.com, numerama.com, ft.com, bloomberg.com, musically.com Spotify, Apple Music as of June 2019. Amazon Music, Pandora as of April 2019. Google Play Music/Youtube Music as of May 2019 Tools: Microsoft Excel and Adobe Photoshop for the visualization If you liked this, please consider following my Instagram account for more statistics, data, and facts

Apple says that claims it broke Chinese labor laws in iPhone factory are mostly ‘false’

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https://www.cnbc.com/2019/09/09/apple-appl-claims-it-broke-china-labor-laws-at-iphone-factory-mostly-false.html Apple on Monday denied most of what is in a report which alleges that the iPhone-maker and its manufacturing partner Foxconn violated Chinese labor law. A report by China Labor Watch, a New York City-based labor watchdog,claimed around 50% of the workforce employed in August at the largest iPhone factory in Zhengzhou, China, were … Read more

China Faces Another EV Subsidy Scandal

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By Jon LeSage Generous government subsidies have been behind China taking the lion’s share of global electric vehicle sales in recent years — but now they’re being called to question and face another scandal. A panel of experts raised the flag over this scandal during a roundtable at the Fortune Global Sustainability Forum on Sept. 5, 2019 in Yunnan, China. While … Read more

Ron Paul: Bill Dudley’s Noble Lie

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Ron Paul, Institute for Peace and Prosperity, Released on 9/9/19 Former Federal Reserve official Bill Dudley’s recent op-ed calling for the Federal Reserve to implement policies that will damage President Trump’s reelection campaign states that such action would be unprecedented. Dudley claims the Federal Reserve bases its policies solely on an objective evaluation of economic conditions. … Read more

Blackrock CIO: The Endgame Is Coming And Central Banks Will Debase Everything To Spark Inflation

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Via ZeroHedge Blackrock’s Chief Investment Officer, Rick Rieder, best known perhaps for recently suggesting that the ECB should monetize stocks, writes in the Blackrock blog today and highlights the economic policy state-of-play today, and where it may lead to should economic growth falter, productivity not materialize, and populism continue to thrive. * * * The major global central banks continue … Read more