The theme of 2023 will be deflation, as frugality is already coming back into style with a vengeance for the middle class. Meanwhile, investor FOMO is about to explode with extreme dislocation

by BoatSurfer600

 

Volume drop at US ports is the start of a much steeper decline.

DEUTSCHE Bank Warns of Peril, Borrowing from U.S. Banks

FRANKFURT (Reuters) – Germany’s Deutsche Bank (ETR:DBKGn) has a stark warning to European companies borrowing from U.S. lenders: They will drop you when times get tough.

The caution, spelled out in an interview with Deutsche Bank board member Fabrizio Campelli, is the latest escalation in a battle with U.S. banks for the business of European firms on its home turf.

It comes at a time that the corporate banking unit of Germany’s largest lender is seeing a resurgence in the home stretch of an extensive restructuring.

“A number of European corporates are already realising the risks of not operating with companies that are long-term committed to the geographies … in which they operate,” he said, without citing any examples.

The global economy is headed for a severe recession with more uncertainty in the future as shocks grow more frequent and more violent. The recession will be drawn-out rather than “short and shallow”.

Credit Suisse Estimates $1.6B Loss After $88.3B Withdrawn in Bank Run