The Bank of Canada estimates that mortgage borrowers who renew their loans over the next few years will see a spike in their monthly payments. This is due to higher borrowing costs and stress in the global banking system, …
The US credit crunch has started, says Apollo's Torsten Slok, citing a March 21-29 Dallas Fed survey of banks. "A survey of 71 banks in the Dallas Fed district done after SVB went under shows a dramatic reversal in loan …
by Shaun Richards Today the focus switches to the Bank of England and in technical terms it will be starting 2023 in good cheer. That is because its financial stability or “Not QE” bond purchases have mostly been unwound and …
by Shaun Richards If we look across the English Channel or perhaps La Manche there is a lot going on. Last week we saw a shift in interest-rate policy which has been backed up this morning. This is from Vice …
by BoatSurfer600 Meanwhile… ‘I’m selling my blood’: millions in US can’t make ends meet with two jobs
by silvertomars https://www.ft.com/content/68105770-f158-4b44-a8c6-b026574e89e1 The borrowing costs of the UK are exploding… the UK 10y yield (purple) has almost caught up with Greece (red) and Italy (light green)… and if you can lose more than the entire annual yield overnight in …
by confoundedinterest17 The Biden Administration celebrated their irresponsible spending splurge on the White House lawn with boring singer James Taylor droning several tunes. But why is Biden celebrating driving up Federal debt by $4.8 TRILLION??? According to the Committee for a Responsible Budget (what …
Lots of people in Europe are borrowing money to afford holidays, meanwhile energy suppliers are preparing bills of between €1000 – €2000. Massive trouble brewing. — Marc-André Fongern (@Fongern_FX) August 24, 2022 Bloomberg: “UK supermarkets are phasing out expiration dates …
(Bloomberg) — The U.S. Treasury increased its estimate of federal borrowing needs for the three months through December after it ran down its stockpile of cash more than it previously anticipated. The Treasury’s projections, released in Washington Monday, come as …
via mybudget360: Millennials continue to face the struggles of living in a world where they are deep in debt and the idea of buying a home is becoming more of a farfetched pipe dream. As recently as 2009 non-housing debt stood …
by John Rubino The business cycle has its stages, and they’re usually both predictable and logical. For example, governments tend to generate a lot of tax revenue late in an expansion as more people get jobs and start paying income …
by FS China is slowing down, and tariff troubles are only making this fear worse. We spoke with Shehzad Qazi, managing director at China Beige Book International, about his thoughts on China’s weakening economic conditions. For audio, see China Seeing an …
via CNBC: The roots of the next recession could lie in U.S. corporates’ debt-to-cash ratios, a top U.S. economist warned Wednesday. The cash-to-debt ratio of speculative-grade borrowers reached a record low of 12 percent in 2017, below the 14 percent …
by Charles Hugh-Smith These charts reflect a linear system that is wobbling into the first stages of non-linear destabilization. The widespread presumption is the U.S. is wealthy beyond words, and will remain so as far as the eye can see: wealthy …
By Harry Dent Read a great article in The New York Times on Sunday (August 19). Erdoğan of Turkey made it into the West’s graces by pretending to bring democracy to Turkey. He was to be an example of a moderate, modernizing …
The second-half borrowing estimate of US$769 billion is the highest since US$1.1 trillion in July-December 2008 via scmp The Treasury Department predicted the US government’s borrowing needs in the second half of this year will jump to the most since …
by John Rubino Not so long ago, student debt was mostly the responsibility of students. That is, you paid for college with loans and then paid off those loans with the proceeds of the good job you got with an …
via nakedcapitalism: I find it hard to get excited about stock market risks unless defaults on the borrowings can damage the banking/payments system, as they did in the Great Crash. This is one reason the China perma-bears have a point: even …
by Thinker As the Obama administration comes to a close, the administration leaves the US with the highest national debt the country has ever seen, approaching 20 trillion dollars. Richard Wolff, professor of economics at The New School, says that …
Americans increased their borrowing in April at the slowest pace in seven months, dragged by a big slowdown in the category that covers auto and student loans. Consumer debt rose $9.3 billion in April after a gain of $12.3 billion …
Use of home equity to fund personal consumption spikes. By Daniel Wong, Better Dwelling: Canadian real estate related debt tapering? That would be ridiculous! Filings obtained from the Office of the Superintendent of Financial Institutions (OSFI) show, after a brief decline in January, …
by John Rubino The Money Bubble is inflating at different speeds in different places. But apparently no culture is immune: Household Debt Sees Quiet Boom Across the Globe (Wall Street Journal) – A decade after the global financial crisis, household debts are …
by John Rubino Chris Martenson: “Central banks don’t create wealth, they redistribute wealth…they and their friends have gotten fantastically wealthy.” Peter Schiff: “We’re getting to the end of it.” Charles Hugh Smith: “We’re borrowing immense sums from a stagnant future.”
by Chris Canada is in pretty deep, so great going central bank of Canada – you’ve lured the bulk of your population into unwise borrowing practices! Canadians Can’t Stop Using Their Homes as Piggy Banks Feb 16, 2018 Canadians …
“This Is 1987”: Some “Haunting Math” On Today’s GDP Number From David Rosenberg When discussing today’s unexpectedly weak Q4 GDP print, which came in at 2.6%, far below consensus and whisper estimates in the 3%+ range, and certainly both the Atlanta …
by Martin Armstrong The conservatives are going nuts about raising the debt ceiling as if this really matters. They claim: “The United States is effectively bankrupt, but that doesn’t matter to the GOP. Once evangelists of fiscal responsibility and scourges of deficit spending, …