A $1.6 Trillion Fund Warns of a Ticking Liquidity Bomb

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Bank of England Governor Mark Carney says investment funds that promise to allow customers to withdraw their money on a daily basis are “built on a lie.” The chief investment officer of Europe’s biggest independent asset manager agrees with him. “There is no point denying we are faced with a looming liquidity mismatch problem,” says Pascal Blanque, who oversees … Read more

Heads up if your employer uses IOIPay (Interlogic Outsourcing Inc) for your payroll service. They’ve been accused of fraud

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https://www.goshennews.com/news/local_news/payroll-company-ceo-accused-of-fraud-in-bank-overdrafts/article_2cf39149-7cd8-5e37-b31d-8141dce47233.html Here’s the article. This came shortly after an incident involving my employer. All our paychecks were deposited but then immediately taken back out. Took a few days to finally get our checks. Now they’re being accused of fraud by doing some shady wire transfers. Not sure if this is appropriate for this sub. Just … Read more

I Got it, Nothing Matters. Tesla, Boeing, Other Stocks: It’s Like the Whole Market Has Gone Nuts

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Wolf Richter wolfstreet.com, http://www.amazon.com/author/wolfrichter Story stocks, momentum stocks, hyperventilation stocks, consensual hallucination stocks, financial engineering stocks: anything but reality. You see, Tesla is different. It just reported another doozie, a loss of $408 million in the second quarter, after its $702 million loss in the first quarter, for a total loss in the first half … Read more

Shock Survey: 12% Of U.S. Corn Farmers Didn’t Get Their Crops Planted, 48% Expect “Below-Average Yields This Harvest”

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by Michael Snyder Crops all over America are failing, and the true extent of this crisis is starting to become clearer.  Months of endless rain and nightmarish flooding prevented many farmers in the middle of the country from getting their crops planted on time, and millions of acres didn’t get planted at all.  And if … Read more

German businesses are the least confident about the economic outlook in a decade.

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by JealousEntrepreneur Not the US, but this is a worsening sign for a global economic slowdown as the 3rd biggest exporter in the world is on the brink of a recession. ​ Source: https://www.bloomberg.com/news/articles/2019-07-25/german-business-confidence-deteriorates-as-factory-slump-deepens ​ Ifo expectations index plunges to 92.2, lowest since 2009. German companies’ business outlook tumbled to the lowest in a decade, adding … Read more

The World Is In Free Fall – There Are No Indications At The Moment A Bottom Is In – US Recession Possible In 1 Year

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via @StockBoardAsset: U.S. Economic Growth Seen Stumbling… KGI: US Recession possible in 1 year – fig 1/2 show global economy rapidly slowing   Nearly 300 Chinese property developers go bankrupt this year amid liquidity crunch Chinese authorities have been tightening financing rules for real estate developers to curb risks in the sector and prevent the … Read more

The Biggest Corporate Debts Visualized in One Chart

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via howmuch In the first quarter of 2019, the total private and public debt of the United States hit a record $70 trillion, raising concerns about the possibility of widespread defaults. Non-financial corporate businesses hold about $9 trillion of that debt. What companies are holding the most debt, and which are more concerning? Of the four firms with … Read more

Undercover Reporter Exposes Chaos Of Being A Bike-Riding Food-App Deliveryman In NYC

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via Zerohedge: Once you’re looking for them, it’s difficult not to notice a slew of food app delivery riders all across New York City. A New York Times reporter went undercover this past spring to try and learn about the occupation and how technology was transforming food delivery. The article calls delivery riders a “street-level manifestation of an overturned industry, as restaurants … Read more

Puerto Rico gov resigns after weeks of protests over obscene chats.. ‘Rickyleaks’

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Embattled Puerto Rico Gov. Ricardo Rosselló resigns amid public outcry SAN JUAN, Puerto Rico — Puerto Rico Gov. Ricardo Rosselló announced his resignation Wednesday days after demonstrators at the island’s largest protest in recent history called for his ouster over a scandal involving leaked private chats as well as corruption investigations and arrests. His resignation, effective Aug. 2, came late Wednesday night … Read more

An “Earnings Recession” Is Here – Big Companies All Over America Are Reporting Disastrous Financial Results

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by Michael Snyder If the U.S. economy really was “booming”, then corporate earnings would be rising.  But that isn’t happening.  In fact, we haven’t seen corporate earnings fall like this since the last recession.  They fell during the first quarter of this year, and based on the results we have so far, it appears that … Read more

Central Banks are Making “Conservative Investments” Riskier – Lacalle

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via mises: There are many misconceptions about the collateral damages of financial repression.  The first one is to believe that Central Banks monitor or react to financial risk accumulation. Policymakers tend to allow excessive risk-taking as a lesser evil side effect in their quest for inflation at any cost (read my paper). If asset valuations … Read more