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Wolf Richter wolfstreet.com, http://www.amazon.com/author/wolfrichter On the surface, consumer debt is a smaller risk factor than it was before the Financial Crisis. But the averages conceal the reality that income & wealth disparities leave in their tracks (11 minutes):
US rating agencies pressure Pemex and the new Mexican government. But Pemex is too big to fail. By Don Quijones, Spain, UK, & Mexico, editor at WOLF STREET. The financial pains and strains continue to grow for the world’s most indebted oil company, Petroleos de Mexico (Pemex). Standard & Poor’s became the latest in a succession of rating … Read more
by Michael Snyder What in the world are they teaching to our young people? As you go through the list of college course titles below, I am sure that many of you will be completely shocked. Most parents assume that they are sending their children to college to get prepared for their future careers, but … Read more
by Charles Hugh-Smith The soaring cost of services is driven by a number of factors. What will the future bring: fire (inflation) or ice (deflation)? The short answer: both, but in very different doses. Goods that are tradeable and exposed to technologically driven commodification will decline in price (deflation) while untradeableservices that are difficult to commoditize will increase in … Read more
by John Rubino This was going to be the year when the other big central banks joined the Fed in “normalizing” interest rates and reversing the past decade’s QE experiment. Instead, the other central banks blinked and went back to aggressive ease, and the Fed is following them. This is a very big deal. Let’s consider … Read more
Democrats, the Party of the Slave States and Jim Crow, became the Party of the Welfare Plantation. Now they are the Party of the Police State. TC
Kirby warns, “Nobody could come to grips with the criminality that was present in our system. . . . The slow burn is probably not in the cards anymore. We are likely to see very significant change in the very near term going forward. . . . We are starting to see signs of admission … Read more
by John Rubino Alasdair Macleod: Is a return to the gold standard possible? … Twitter execs debate censorship bias … Max Keiser: All fiat currency should be burned … David Stockman: The undrainable swamp & the inevitable recession … Wolf Street: Is China the epicenter of the next financial crisis? …
via northmantrader: In last week’s Weekly Market Brief I made the case for a coming $VIX spike: “With a $VIX now at 13.5 and a big open gap at 24+ the $VIX is setting up for a rebellion”. Indeed $VIX rebelled this week with a move from 13.5 to above 18 a move of 33%. The first real volatility … Read more
From The Democrat’s Dilemma: The primary reason that mass immigration destroys the welfare state because immigrants receive more in benefits than they pay in taxes. This is not true for every immigrant—some never collect government handouts—but it is true for the overall immigrant population. Studies from across the Western world prove this point. A recent, and … Read more
by Martin Armstrong There is a real crisis in the fertility rate which has fallen to such a low level that all the socialism going forward will simply collapse. What used to be the Baby Boom is now being called the “Baby Bust,” which means that in all first-world countries there is a real crisis for … Read more
via CNBC: New York conducted about 3,000 “non-residency” audits a year between 2010 and 2017, collecting around $1 billion, according to a data company. New York is looking at cellphone records, social media feeds, and veterinary and dentist records in verifying residency. Auditors are even conducting in-home inspections to look inside taxpayers’ refrigerators. The … Read more
by Mish Shedlock Challenger reports a huge jump in layoff announcements. The retail sector is very hard hit. The Challenger Report shows employers announced 76,835 job cuts in February. The shortest month of the year saw the highest number of job cuts in over three-and-a-half years, as U.S.-based employers announced plans to cut 76,835 positions from their payrolls … Read more
Macroeconomic analyst Rob Kirby says, “Global financial system is critically broken.” With massive amounts of secret and not so secret money already created, what will happen to gold? Kirby says, “The price of gold will revalue itself once the carnage and the pieces are all on the ground and people around the globe realize the … Read more
from Zero Hedge As markets sink further into the red during what will likely become their worst week of the year, more skeptical reports about the likelihood of a deal have emerged. On the heels of a report that a tentative summit with President Xi had been pushed back, the Financial Times returned with comments from a senior administration … Read more
by Simon Black http://traffic.libsyn.com/sovman/102__He_retired_at_35_-_here_are_some_of_his_investment_strategies.mp3 Today’s episode of the Sovereign Man Podcast features non other than Sovereign Man’s Chief Investment Strategist, Tim Staermose, talking about not one but two highly successful, targeted investment strategies with proven track records. If you are a regular SMC or 4th Pillar reader, then you’re familiar with Tim’s wit, his financial probity, and his impressive stock … Read more
via nypost: Americans traveling to Europe will soon have to add a new item to their packing lists. Starting in 2021, the European Union will require US visitors to get a pre-approved, visa-like travel pass issued by the European Travel Information and Authorization System. The permit will cost about $7.90 and will have to be requested … Read more
via latimes: After 36 years as a California government transportation engineer, Bijan Sartipi retired with much more than a goodbye party: He was paid $405,000 for time off he never used — one of more than 450 state workers who took home six-figure checks when they left their jobs last year. And Sartipi didn’t top the … Read more
via @grimacemcdonal1: I don’t believe the Unemployment Rate is 3.8% when it takes the average American five MONTHS to find a job. Either the BLS or the St. Louis Fed is wrong. I think the BLS is full of shit. Please retweet & plan accordingly.