Global PMIs Show Synchronized Slowdown Underway

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via Topdown Charts Something has been happening in the global economy this year – and I say *this year* for good reason. Both the developed and emerging market composite manufacturing PMIs peaked in December last year, and have both seen an almost consistent and synchronized slowdown. We can definitely blame tighter financial conditions and increased market volatility, but political risk … Read more

Emerging Market Debt Crisis – A Reality Check

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by Martin Armstrong QUESTION:  Hello Martin … I follow emerging markets closely and one thing I note is that the size of the sovereign forex-denominated debt burdens are quite small relative to GDP except in the case of Argentina (48%). Everybody else, including Turkey and Indonesia) is 11% or less. How can you have a … Read more

Lynette Zang: What Hyperinflation And The Reset Look Like From Actual Boots On The Ground

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by Lynette Zang of ITM Trading Lynette is proud to announce a brand new series called “Boots on the Ground”. In this first episode of the new series, Lynette speaks with Yaniv (sp?) from Israel who lived through the Israeli hyperinflation. What does hyperinflation look like, and what about the reset? Tune in to the interview in its … Read more

Wall Street’s Toxic Chem Labs At It Again—CLOs Double From 2008 to $548 Billion

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via Bloomberg: Some of the world’s wealthiest clans have been throwing their money into an esoteric piece of financial engineering that has Wall Street in its thrall. They’re called collateralized loan obligations, and they transform riskier company loans into bonds of varying risk and reward. Buyers have included affiliates of the Pritzker family, Bill and … Read more

Bloomberg: Tech Titans Plot New Zealand Escape

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by SP Bloomberg carried the following article about wealthy US “tech titans” plotting bolt holes in New Zealand to escape the Zombie Apocalypse. “If you’re the sort of person that says ‘I’m going to have an alternative plan when Armageddon strikes,’ then you would pick the farthest location and the safest environment — and that equals … Read more

Everything has gotten so complex that adjustments and reforms simply aren’t going to work. It might be time for a new system.

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via thezman: Anyone who has been through a change in software platforms for their company knows that it starts out as a lot of fun, but then turns into drudgery. Initially, thoughts of all the new stuff and better programs makes it feel like Christmas. Then the reality of going through every single business process of … Read more

Norway’s $1 trillion sovereign wealth fund is getting stricter on the companies it invests in. It said that it expects businesses to “manage the challenges and opportunities related to sustainable uses of the ocean.”

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via cnbc: Businesses should integrate ocean sustainability into strategy, according to Norges Bank Investment Management. Firms should also disclose how ocean sustainability forms part of their strategies, policies and commitments. Norway’s $1 trillion sovereign wealth fund has said that it expects businesses to “manage the challenges and opportunities related to sustainable uses of the ocean.” … Read more

“Pensions Are a Promise,” But Math Drinks Their Milkshake

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via illinoispolicy: According to a new report by Moody’s Investors Service, Illinois’ unfunded pension liabilities equaled 601 percent of state revenues in 2017, a U.S. record. Illinois’ pension debt has set a new record to which no state should aspire. Credit ratings agency Moody’s Investors Service released a report Aug. 27 comparing unfunded pension liabilities across all U.S. … Read more

A decade on from the GFC, the world is less equipped to cope with the next crisis

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via stuff.co.nz: OPINION: London in 2007 and 2008 was a wonderful time and place to be a Kiwi journalist. Everyone knows the term “global financial crisis”, but what defined the crisis was the incredible boom which came before it. As informative as it is, anyone who has read The Big Short or watched the movie adaptation is left with … Read more

Morning Note: ADP Big Miss, U.S. Weighing More Tariffs, EM Stocks Down for 7th Day, Cryptocurrency Turmoil Deepens…

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ADP Big Miss pic.twitter.com/7DeJzHz5Tb — Alastair (@StockBoardAsset) September 6, 2018 https://twitter.com/FerroTV/status/1037634872632860677 The Social Media Bubble Is About To Pop $FB $TWTR $SNAP pic.twitter.com/5bw5DDySH2 — Alastair (@StockBoardAsset) September 6, 2018 Default fears mount for "BATS" as emerging-market rout deepens. #Turkey’s implied default odds climb to highest since 2008. Substantial default risk in #Argentina as well. https://t.co/Mw555cIwur … Read more

The Facebook Exodus Among Millennials Is Massive, Says New Report

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by stockboardasset Americans’ relationship with Facebook has shifted to “It’s Complicated” More than 25 percent of millennials who use Facebook say they have deleted the app from their smartphones in the last 12 months, according to new data from Pew Research Center. About 42 percent of users say they have stepped away from checking Facebook for an … Read more