Spreading the truth. Empowering the people.
Ouch. China industrial profits fall sharply by -9.9% YoY & year-to-date -2.9%. Meanwhile, liabilities are UP 4.9%! Meaning, profitability down but debt up & that means WORSE repayment ability, from … Read more
via @TaviCosta: Even worse than countries like Argentina & Greece. Talk about dumping capital into massively unproductive assets.
BY JOHN RUBINO Jim Rickards: In the next financial panic, “gold will be going up $100 a day, $1,000 a week” … Noam Chomsky on the Russiagate “farce” … Glenn … Read more
by Michael Snyder The United States is on a path to financial ruin, and everyone can see what is happening, but nobody can seem to come up with a way … Read more
via alec.org: Unfunded liabilities in public pension plans continue to loom over state governments nationwide. If net pension assets are determined using more realistic investment return assumptions, pension funding … Read more
via CNBC: A big change in lease accounting rules effective Jan. 1 requires companies to record operating leases on their balance sheets. Operating leases include everything a company rents to … Read more
via fullmeasure: – It has between 3 to 5 million illegal immigrants. – 1/3 of the nation’s welfare recipients. – 1 in 4 of America’s homeless population. – 1 in 5 … Read more
via confoundedinterest: Chicago IL (should be ILL) is the poster child for an insane pension program (mostly to municipal workers and public school teachers). But not only in the city of … Read more
by SpontaneousDisorder www.bloomberg.com/news/articles/2018-09-27/fed-accounting-change-boosts-unfunded-pension-obligations-chart In case you missed it, the Federal Reserve’s quarterly Financial Accounts report last week included a change to accounting for state and local pension-fund programs. The central … Read more
by Anthony B Sanders (Bloomberg) Global debt rose to a record $233 trillion in the third quarter of 2017, more than $16 trillion higher from end-2016, according to an analysis by the Institute … Read more
Larry Lindsay, 5/19/15: “Unfunded entitlemt liabilities take US Federal debt oblig’s closer to 300%, not 100%, which is > Greece’s debt.” A. Greenspan: “We’re not getting like Greece, we’re getting … Read more