by confoundedinterest17 US House Speaker passed on a budget to the US Senate to avoid a US debt default. Senate Majority Leader Chuck Schuner said “DOA” and Biden refuses to negotiate with McCarthy. Hence, the US Credit Default Swap 1Y …
by OkIncident5269 I’d hazard a guess that it’s hedging. There is wayyy to much money on the line if the USA has a sovereign debt crisis. As much of a bear as I am, there is no way they would …
Credit Suisse Group AG reported 61.2 billion francs ($69 billion) of outflows in the first quarter and took a large writedown at its wealth management unit, underscoring the challenge for UBS Group AG in retaining key clients and assets after …
After having somewhat belatedly discovered credit cards, an old acquaintance of consumers in Brazil, Americans are getting used to another Brazilian way of consuming: using installment payments to make small day-to-day purchases, such as trips to the supermarkets or to …
a March study from Wallethub found “credit card debt increased by $85.8 billion during Q4 2022 – the highest quarterly increase ever recorded.” Job losses are cutting into spending power, even for six-figure earners Recent months have also seen big …
via YAHOO: A Biden administration rule is set to take effect that will force good-credit home buyers to pay more for their mortgages to subsidize loans to higher-risk borrowers. Experts believe that borrowers with a credit score of about 680 …
A new federal Biden rule will force homebuyers with good credit scores to pay higher mortgage rates and fees so they can subsidize people with riskier credit ratings who want to buy a home. It’s wealth redistribution and will be …
Past 10 days have been wild: — Capital One shut off all dealer floorplans (aka inventory lines of credit) — USA Auto Sales shut down 39 dealerships after losing its Ally floor plan — Wells fargo laid-off all its junior …
~100% increase in the past 18 months pic.twitter.com/VNLUWHSjKg — Adam Taggart (@adamtaggart) April 19, 2023 Credit crunch is moving forward, taking out auto lending home lending and commercial real estate. Recession signals are 🚨🚨🚨 🔊 https://t.co/xJgzSeqaOL — Wall Street Mav …
by Martin Armstrong Fannie Mae and Freddie Mac are making some changes to Loan Level Price Adjustments (LLPAs) that will likely hurt those with good credit applying for conventional loans in the US. To ensure “fairness,” the agencies are helping …
by confoundedinterest17 The US is beginning to be out of time for agreeing on a debt limit increase. But you don’t need a fortune teller to tell you that Biden and McCarthy will eventually agree to increase the US debt limit because everyone in Washington …
by DefinitelyNotJasonB The M2 money supply is contracting, unemployment is super low, we are in a deep protracted yield curve inversion, and the Fed is in a tightening cycle. Every time these things have ever been true at the same …
A good credit score is essential for anyone in the APAC region. It can help you get loans, mortgages, and other financial products at lower interest rates. A poor credit score can have serious consequences as it will make it …
by confoundedinterest17 Hand to mouth should be Biden’s Presidential re-election theme song. 70% Of Americans Are Financially Stressed, 58% Live Paycheck-To-Paycheck because America is living off their credit cards living a life they can’t actually afford as credit card debt keeps hitting …
This is insane. It gets worse and worse the longer it goes. pic.twitter.com/P6Ii1OYZBK — High Yield Harry (@HighyieldHarry) April 13, 2023 WHO LENT THEM THE MONEY? The banks somehow don’t know this? About their mortgage, credit cards, personal loans AND …
Iranian women who resist the hijab law face the brutal prospect of frozen bank accounts, drawing chilling parallels to the repressive tactics of Canadian PM Justin Trudeau against protestors. Iran is intensifying its efforts to enforce strict dress codes for …
by Dismal-Jellyfish Source: https://www.ndtv.com/world-news/swiss-parliament-rejects-129-82-billion-aid-for-credit-suisse-ubs-merger-3943095 Switzerland’s parliament rejected on Wednesday the government’s 109 billion Swiss francs ($120.82 billion) aid for Credit Suisse’s merger with UBS, leaving the fallen bank’s hastily arranged rescue without a largely symbolic parliamentary blessing. While the upper house …
No Bailout h/t jlee2027
by: Ethan Huff (Natural News) The Reserve Bank of Australia (RBA), similar to the private Federal Reserve here in the United States, has launched 14 different central bank digital currency (CBDC) pilot programs in an effort to shift the country entirely to …
by Chris Black Here’s what the Fed’s own data says: Dallas Fed Banking Conditions Survey (BCS) (https://www.dallasfed.org/research/surveys/bcs/2023/bcs2302): “Credit standards and terms continued to tighten sharply, and marked rises in loan pricing were also noted over the reporting period. Banking outlooks …
by BoatSurfer600 The Fed has so far saved the stock market from crashing, thanks to massive liquidity, Ed Yardeni said. He pointed to the Fed’s Bank Term Funding Program, which offers short-term loans to lenders. Quelled volatility suggests those loans …
by confoundedinterest17 I read over the weekend that the Biden Administration was planning to unleash its army of social influencers on us to hype Biden’s economic accomplishments before the Presidential election. I am not one of his preferred social influencers. In …
by Michael This is moving even faster than a lot of us thought that it would. For weeks, I have been warning my readers about the coming credit crunch. When banks get into trouble, they start getting really tight with their …
by OkIncident5269 JP literally said he was going to rely on bank lending tightening to act as an alternative to raising rates. This was 100% forecasted. Banks are down $600b, the last thing they want to do is increase …
112 Billion left before default. Source: Treasury.gov via thehill: The FDIC is authorized to borrow up to $100 billion from the U.S. Treasury. It is required to repay the loan with interest using the proceeds of asset sales from failed bank …
Credit 💳 Card Delinquency pic.twitter.com/HZkNQCMpXt — Win Smart, CFA (@WinfieldSmart) April 6, 2023 Demand downturn is now the dominant reason for US layoffs. Source: @LPL pic.twitter.com/sGMVl6lfiv — (((The Daily Shot))) (@SoberLook) April 7, 2023 JPMORGAN CEO DIMON: PEOPLE SHOULD BE …
CHARLES HUGH SMITH: Global Bankruptcy Already Baked In Scrape away the complexity and every economic crisis and crash boils down to the precarious asymmetry between collateral and the debt secured by that collateral collapsing. It’s really that simple. In eras of easy credit, both creditworthy …
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 …
“It is a sad day for you and for us too. I can understand the bitterness, the anger, and the shock of all those who are disappointed, overwhelmed, and affected by the developments,” Lehmann said in remarks prepared for the bank’s annual …
Soon, we will receive updated debt numbers for Q1 2023. It is expected that credit card debt will cross $1 trillion for the first time in history. Meanwhile, Americans are "fighting" inflation with debt as rates are rising. Follow us …