by Shaun Richards This morning has brought a development in two areas which are of high interest to us. So let us crack on with this from the Financial Times. The Bank of England has issued a warning about the …
by stockboardasset While President Trump pedals the notion that the economy is the “greatest economy in HISTORY,” WalletHub noticed a considerable amount of Americans repaid $40.3 billion in credit card debt during the first quarter of 2018 — the second-largest quarterly …
by DCG Another anti-Second Amendment company to add to your boycott list. From NY Post: Several gun-related businesses were suddenly — and without warning — disrupted in recent weeks when Intuit stopped processing credit card payments because sales were gun-related, The Post has learned. Some of …
https://twitter.com/pierpont_morgan/status/1006234510458081280 Argentina's Peso Is Collapsing Again https://t.co/iQKtvZXLAE — zerohedge (@zerohedge) June 11, 2018 Just a few short days after agreeing a record bailout by The IMF, Argentina’s currency is back in freefall,collapsing to more than 26 pesos per dollar as Argentine truckers …
Morgan Stanley warns the tech bubble can burst at any moment and it will bring down the rest of the market. The credit economy will eventually freeze and the squeeze will put pressure on corporations and governments. The Fed has …
Read more at https://www.consumer.ftc.gov/blog/2018/06/free-credit-freezes-are-coming-soon-0 When the law takes effect in September, Equifax, Experian and TransUnion must each set up a webpage for requesting fraud alerts and credit freezes. The FTC will also post links to those webpages on IdentityTheft.gov. And if …
via Financial Sense® Wealth Management Deutsche Bank credit default swaps (insurance against default risk) are moving back up today: Unicredit (Italian Bank) CDS moving back up after a 2-3 day respite while its stock price remains weak: Monte CDS moving back up: …
by COMPUTER1313 https://www.bloomberg.com/news/features/2018-05-24/small-time-bankers-make-millions-peddling-mortgages-to-the-poor Taylor had recently filed for bankruptcy because of his $25,000 in credit card debt. But he just bought his first home for $120,000 with a zero-down loan from Christian’s company. Monthly debt payments now eat up half …
Anyone successful in getting a report from NCTUE via gizmodo: Remember all that trouble you went through to freeze your credit report after the massive and unforgivable Equifax hack? Turns out it was all for nothing, as security writer Brian Krebs reported Wednesday …
"Keep watching credit spreads and European banks. Both risks have ramped up abruptly in recent days," h/t @hussmanjp pic.twitter.com/rwnCDP0rvg — Alastair (@StockBoardAsset) May 31, 2018 The ECB has been the only real buyer of Eurozone bonds this year. And bond …
DB math… Credit rating downgrade+scandal+lawsuits+low morale = risk off – BTMFD pic.twitter.com/feAuffR20j — Vincent (@vinman205) June 1, 2018 Deutsche Bank Credit Default Swap readings have been a great indicator of panic for the overall global stock markets. Spikes in late …
via mediaite: On CNN on Thursday, host Brooke Baldwin addressed the same topic NBC’s Megyn Kelly mentioned earlier with regard to TBS’s Samantha Bee attack on Ivanka Trump: Double standards. “Conservatives have been pointing to a double standard on how liberal stars who say these offensive things are treated, …
via Palisade Research: When interest rates on credit card debt get raised, the default aftershock isn’t felt immediately. It takes a few cycles of debt compounding on compounded debt for the final coffin nails to get pounded into a strapped …
by ConqueringDebt I am a late 20’s millennial who enjoys the finer things in life, like craft beer and keeping my 17 year old Subaru Outback running. I was very happy trudging my way through life slowly paying down my …
via Mike Mish Shedlock If you think the economy is improving, you better check your facts and some disturbing trends. Despite the much ballyhooed “strong jobs” economy, things are not what they seem upon closer inspection. For example, Store-Branded Credit Card Delinquencies …
Guest post by Cc_fraud_throway_ugh My dealings today have been frustrating enough I figure I should name and shame. The bank is Barclays and the product involved is the AAdvantage Aviator Red MasterCard. Not too long ago, I noticed some odd …
by John Ward Senator Warren’s Free Credit Freeze Bill is a well-meaning attempt to protect the private financial data of ordinary Americans. But nobody should underestimate Wall Street’s ability to pervert the well-meaning and turn it into a selling opportunity. In …
New homes sales have declined and now we are seeing existing homes declining. Trump is now distancing himself from Mnuchin, is Mnuchin the next person to be fired? FDIC is preparing for the next credit crisis, the corporate media is …
via Economic Prism: When Fed-printed dollars are flowing freely through the banking system and out to consumers, bidding wars break out for everything. Stocks, bonds, housing…free debt means lots of easy capital with which to overpay for assets. And whoever …
By Harry Dent Two big news items in the last 24 hours have grabbed my attention. The first is Congress’s approving a bill to roll back the Dodd-Frank Act. If this passes, smaller financial institutions will find relief from the …
Very interesting, and scary, to think that credit spending levels are higher now than they were before…… Maxed Out: Hard Times, Easy Credit and the Era of Predatory Lenders (2006) is an independent feature-length documentary film and (2007) book that …
via Global Macro Monitor: Among the many contributors to 2008’s Great Recession were credit default swaps (CDSs), largely unregulated casino bets banks make with each other about nearly anything you can think of. Fully accounting for them is ridden with …
China Celebrates Social Credit System Blocking People from over 11 Million Flights China’s state-run Global Times newspaper reported on Monday that over 11.14 million instances of individuals not being able to board flights – and 4.25 million similar incidents on trains – …
via Jill Mislinski The latest household debt for Q1 2018 was up 0.5% from Q4 and currently at $13.21T and at its peak. Here is an excerpt from the latest press release: NEW YORK—The Federal Reserve Bank of New York’s Center …
via City A.M.: Oh, what a tangled web we weave, when we all practice to keep fundamentally insolvent entities afloat no matter what. How many worldwide systems exist to enable broken and unsustainable economies and companies? The Fed’s ZIRP has kept …
by mauldineconomics In 1999, I began saying the tech bubble would eventually spark a recession. Timing was unclear because stock bubbles can blow way later than we can imagine. Then the yield curve inverted, and I said recession was certain. I …
Grant’s Interest Rate Observer Podcast, Released on 5/14/18 Adam Cohen, founder of Covenant Review, joins Grant’s for an insightful overview of our loosey-goosey credit market. 1:20 “Read the footnotes,” then and now 8:41 Where is the danger for lenders? 13:54 …
via Zerohedge: Long gone are the days when the CDS market was naively seen as merely a simple hedge to long cash bond positions for vanilla investors (negative basis), or more conspiratorially, a means to naked short the bonds of …
Will personal debt expand in the coming months and years? Or will people deleverage? The Federal government has brought in record amounts of taxes. Will they be used to fix our roads and improve our healthcare and education? No of …
via Gary Gordon Summary Household debt levels may not be as menacing as they were in the previous credit boom-bust cycle. On the other hand, corporations have never been as leveraged as they are right now. Excesses in corporate credit preceded …