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 …
by Tangential_Diversion They usually have significantly better perks that are worth more than the annual fee if you use them correctly and you’re in their targeted demographic. I’ll use the Chase Sapphire Reserve as an example. It’s a rewards card with a $495 …
by John Rubino A while back, a writer (whose name and story details I unfortunately don’t remember) was researching the credit card business and tried to figure out how card issuers decide which customers to pursue. To this end he …
via ZeroHedge While many celebrated the record high US household wealth in the latest data from The Fed, what most missed was a record $1.0 trillion of credit card/revolving loans, a record $1.3 trillion of auto loans, and a record $1.5 …
by cbus20122 See FRED Revolving Credit Data Here As some probably know by now, I’ve been following along closely to a lot of consumer credit data in the USA and also around the world. Today’s credit release had a really …
by Charles Hugh-Smith China is creating Kafka’s nightmare world as the perfection of centralized control of its citizenry. China is rapidly building out a Total Surveillance State on a scale that far surpasses any government surveillance program in the West. The …
by visualcapitalist Do you consider yourself to be a trustworthy individual? While it may be true that your family and friends would be willing to vouch for you, the reality is that the rest of the world has no idea of …
Jim Chanos to @Reuters regarding Tesla's liquidity and credit strength: "Tesla’s quick ratio dropped to 0.38 and their (Altman) z-score is approaching 1.0. Both are indicative of a company in financial distress.” @Reuters @ReutersBiz @elonmusk — Jennifer Ablan (@jennablan) May …
by Trivirus I’m aware most of you aren’t self-employed or small business owners, but understand I’m not a fan of the system either. I’m just trying to “play by the rules” because, last I checked, there’s no revolution going on, and …
by idealdreams I’ve encountered many people, both in my personal life and online, that insist upon using a debit card for their purchases, instead of using a credit card — either because they don’t yet have one, or because they …
by visualcapitalist From the beginnings of General Motors Acceptance Corporation to the introduction of the Diner’s Club charge card, the history of credit has been filled with game-changing innovations. Today, new innovations in tech are continuing to shape the consumer credit industry – …
by aRedLlama The nuance here is that you want to wait until the statement cuts then pay the full balance on or before the due date. If you pay the balance in full before the statement can even cut, then the issuer will …
https://www.youtube.com/watch?v=VFFLwiq6QtU SOCIAL CREDIT SCORE SYSTEM GOES LIVE ACROSS 14 CITIES – Will It Be Going Global?
#IMF Warns: Global Financial System at Risk – Too Much Debt, Credit and Leverage. Sound Like #PlanetPonzi! https://t.co/yoDiLkZS26 pic.twitter.com/qCUeSHA6l0 — Planet Ponzi (@PlanetPonzi) April 18, 2018 The current economic environment remains favorable, but short-term risks to global financial stability have …
from Financial Survival Network Jerry Robinson says that America has been dealing with its debt problem in a very creative way: Create more debt to pay down old debt. Sounds like a real recipe for success. How much longer can it go …
by dequeued A lot of people ask “what bank should I use?” and a small number of banks and credit unions get most of the airtime here so I wanted to compile a list of recommendations (and add it to …
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter The two-year yield, now surging, is a leading indicator. The Financial Stress Index, released weekly by the St. Louis Fed, is designed to track financial conditions that companies face in the markets. It reached record lows …
Credit Card debt of Americans has hit a fresh high of $1,030.9bn Even higher than before Great Financial Crisis in 2008 Good morning from the US where the outstanding Credit Card debt of Americans has hit a fresh high of …
by throw_me_in_garbage I’m in significant credit card debt for various reasons. Most of it was unavoidable home repairs and renovations to prepare to sell my house (it was a heavy fixer-upper and my family needed a place to live) but …
via Jim Leaviss As the U.S. yield curve flattened to just 45 bps (2s-10s) last week, we dug out something I wrote back in 2007, in the early days of this blog. A chart that accompanied the blog showed that a) U.S. …
The Global Economy Is Slowinghttps://t.co/F1wuhNPhRP — Daniel Lacalle (@dlacalle_IA) April 17, 2018 Credit card defaults hit 6 year high. (S&P/Experian Default Index) Credit risk seems abundant. pic.twitter.com/3bsdGSegf1 — Mark Johnston (@CovfefeCapital) April 17, 2018 https://twitter.com/_globalmacro/status/986206993735090176 "60+ day delinquency rate of …
via Steven Hansen Summary There are contrary indicators for growth of consumer credit. Current levels of consumer debt are at historical highs, whilst consumer debt payments are historically low (but are rising). The Fed’s increase in the Federal funds rate will slow …
by WARREN MOSLER Highlights In mixed results, March payroll growth of 103,000 is well below expectations but wage indications from average hourly earnings do show a little pressure as was expected, up 0.3 percent on the month with the year-on-year rate up 1 …