Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter Delinquencies soar past Financial-Crisis peak at the ca. 5,000 smaller US banks, and these are the Good Times. What’s going on? The delinquency rate on credit-card loan balances at commercial banks other than the largest 100 …
via fastcompany: The system assigns Chinese citizens a social credit score based on their social, political, and economic behavior. A bad score affects a Chinese citizen’s ability to travel via train or plane and can even stop a person from getting …
by OfficialHavik Usually the first sign of a downturn is when default rates for various kinds of debt rise (credit card, auto loan, etc.). Here’s an article from the NYpost talking about it. https://nypost.com/2018/08/11/more-americans-are-defaulting-on-their-credit-cards-analyst/ Despite a booming economy, many …
by WARREN MOSLER More Q2 weakness: Highlights Consumers credit came in below expectations, up $10.2 B in June as consumers held back from adding to their credit-card debt and even paid off some of it following a spending spree in …
via John Engle Summary Despite missing on earnings, the market reacted favorably to Tesla’s Q2 earnings report thanks to a beat on revenue and apparent reduction in cash burn. Tesla claims it can service its debts with internally generated cash flow, …
This is collusion. Big tech working in combination with “watch dog” groups to dismantle the inalienable rights of human beings. This must end. We must seize the memes of production! We, the workers, are the owners. Screenshot: https://s15.postimg.cc/c2wq8ufuz/ahol… Archive: http://archive.is/j9aB8 …
Credit card rates are now higher than they were at the peak of the last cycle: pic.twitter.com/54RBTFJHGh — Jesse Felder (@jessefelder) August 7, 2018 I wonder what this graph would look like if personal loans and line of credit were …
by Jim Quinn China is starting a "social credit system.” The state will monitor social media and web use to make it "hard for the discredited to take a single step". Will it come to America? Has it, already? pic.twitter.com/dEVrYww4Co …
by malexander161 I’m moving into my first solo apartment in a couple weeks, and I had to budget for the utility security deposits that many companies require if you lack a history with them. Between electric and internet, I was …
According to Michael Howell, chief executive officer at global research group Crossborder Capital, as monetary policy tightening takes place, there could be strong consequences for credit markets. While the yield curve is signalling upcoming problems, credit market spreads aren’t remaining …
With borrowing costs rising and effects of tax cuts set to wear off, a shock could push the most vulnerable over the edge, and take the recovery with them via Jonathan Spicer By almost every measure, the U.S. economy is booming. …
Futurist and economic researcher Chris Martenson says people can protect themselves with real assets as opposed to paper assets. Martenson says, “Real assets are the place you need to be if and when a paper tower comes crumbling down. I …
via @stephlandsman David Rosenberg is pretty certain he knows how the bull market in stocks will end. The Gluskin Sheff chief economist and strategist expects widening spreads will tear it apart. “The corporate bond market is today’s bubble, just like the …
Josh Sigurdson talks with author and economic analyst John Sneisen about the recent drop in investor confidence following the exposure of Blackstone’s credit default swaps. Blackstone’s credit default swaps had an engineered default and the CFTC slapped them on the …
COPPER: down -17.5% in 2018, the Chinese have not been able to centrally plan this market price higher = Bearish TREND @Hedgeye #reiterated China Not Messing Around: Serious QE Means Serious Currency Devaluation “They. Drew. First. Blood.” So said John …
State and federal government revenue from commodities and stamp duty is surging, Deloitte says, but trouble is looming via Paul Karp Australian governments are experiencing a surge in revenue that will be undermined by a slowdown in China and a “mini-credit …
via creditunions: The regulator kept the corporate crisis bailout money for itself, further undermining the pillars of the cooperative system. Does anybody care? The NCUA’s retention of the initial $3.1 billion surplus from the closing of the Temporary Corporate Credit Union Corporate …
Total Consumer Credit Owned and Securitized, Outstanding University of Michigan consumer confidence index at 97.1 in July shows a modest slowdown, but still highly positive. Most interesting is the drop in households’ long-term inflation expectations. Who would have guessed? US …
Link: https://www.tesla.com/support/incentives The following federal income tax credits are available to anyone who purchases a new Tesla Model S, Model X or Model 3: Federal Tax Credit For Vehicles Delivered $7,500 On or before December 31, 2018 $3,750 January 1 to …
by Michael Snyder In a way, I feel very sorry for Brett Kavanaugh right now. This Senate confirmation process is going to be like going to a proctologist every single day for weeks on end. Investigators are going to go …
It does not matter whether you have a big or a small loan to pay back, you are likely to worry about your future. Your credit score determines employment interviews, insurance rates, auto loans and home mortgage. Moreover, the credit …
From Jim Rickards, Editor, The Daily Reckoning: So many credit crises are brewing, it’s hard to keep track without a scorecard. The mother of all credit crises is coming to China with over a quarter-trillion dollars owed by insolvent banks and …
Global Slowdown Becoming Evident Credit card interest rates are flying higher…. 2nd highest level since May 2001… Total revolving credit – new record high. In the words of Bob Dylan: The personal interest payments they are a’ rising I sense …
by Michael Snyder Americans are on an absolutely spectacular debt binge. Does this mean that the economy is getting better, or does this mean that U.S. consumers are totally tapped out and are relying on borrowed money to make it …
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter One of the biggest such deals ever, happening now: How investors allow a group of PE firms to extract $3.75 billion from a company after they’d already extracted billions. Junk-rated Asurion – which is based in Nashville, …
Professor Steve Keen explains why debt and credit matter, and use them to show why the 2007 crisis occurred. He shows why several of the countries that avoided a crisis in 2007 are on the verge of one today. It …
Do you think it’s ok to have lots of credit card debt? I ask this because many people believe that this is a great way to consume more and believe that hyperinflation will eventually pay for everything. People have …
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter “It feels like we’re about 12 months away, but we could get into extended innings.” As corporate indebtedness in the US has reached precarious heights, and as risks are piling up, in an environment of rising …
2nd chart via @Callum_Thomas https://twitter.com/OccupyWisdom/status/1008156535523106816 h/t @OccupyWisdom
via Steven Pearlstein, Analysis Let’s recall those heady days of 2006 when home prices were rising 10, 15, even 20 per cent a year, allowing millions of homeowners to refinance mortgages and collectively take out more than US$300 billion in cash …