via WSJ: Shares of PacWest Bancorp PACW -22.70%decrease; red down pointing triangle fell 23% Thursday, dragging down other midsize banks, after PacWest disclosed another round of deposit flight. The bank said in a securities filing that it lost 9.5% of …
by: Ethan Huff (Natural News) If you think the banking collapse will end with Silicon Valley Bank (SVB), think again. Contagion is already spreading as Americans are waking up to the fact that the American financial system is a fraudulent Ponzi …
Guest post from John Rubino: Gold bugs and other long-suffering critics of fiat currency and endless credit expansion have for decades been predicting that soaring debt would eventually blow up the financial world. As the story went, governments with unlimited …
by Player896 Morning economic data: November retail sales (m/m) -0.6% vs -0.2% expected; October retail sales were +1.3% m/m Empire Fed manufacturing survey -11.2 vs -1.0 expected Philly Fed manufacturing survey -13.8 vs -12.0 expected Weekly jobless claims down 20k from last …
by Charles Hugh-Smith Who believed that central banks’ financial perpetual motion machine was anything more than trickery designed to generate phantom wealth? Central banks seem to have perfected the ideal financial perpetual motion machine: as credit expands, money pours into risk assets, which shoot higher …
by Michael Have you ever found yourself completely losing your temper in the middle of a heated struggle of some sort? Whether it is a hotly contested sporting event, an actual fist fight or a bitter battle against an online …
Switzerland is the new California 😉 — Reminiscences of an American Capitalist (@4Awesometweet) September 7, 2022 Switzerland: 3 years in prison for heating your homes this winter Switzerland is considering jailing anyone who heats their rooms above 19C for up …
by Michael Now they are trying to convince us that dramatically higher prices are good news. Are you kidding me? Our standard of living is being systematically destroyed, and more Americans are falling out of the middle class with each …
by silvertomars Workers at UK’s largest container port goes on strike for 8 days after rejecting a pay increase of 7%… this would represent a real pay decrease as UK inflation is running at 9.4% and BOE is expecting inflation to …
h/t SilverBoatSurfer
https://www.marketwatch.com/articles/bear-market-recession-spiral-fed-51655159287?mod=mw_latestnews Economist Paul Samuelson famously quipped that the stock market had predicted nine out of the last five economic recessions. By this he meant that the stock market tends to be overly pessimistic about the economic outlook. Before taking comfort …
by Michael Snyder What in the world is happening to our country? Once upon a time, the streets of our major cities were so civilized, but today our politicians seem to have no answers as crime rates spiral out of control. …
by Michael Snyder Did anyone out there actually expect things to turn out differently? When the federal government kept borrowing and spending trillions upon trillions of dollars that we did not have, we were warned that this day was coming. …
by Michael Snyder It turns out that all of the “doom and gloomers” that were warning that we would eventually experience nightmarish inflation were right after all. In particular, vehicle prices have become exceedingly painful in recent months. Due to …
Global food prices are rising along with many other commodities and constitute a major part of the inflation picture. According to UN Food and Agriculture Organisation’s biannual global food outlook, prices had risen by 40% in the 15 months to …
Via SchiffGold.com, Consumer prices have been rising precipitously this year. If you annualize the Consumer Price Index through the first five months of 2021, you get a CPI increase of over 6%. Federal Reserve Chairman Jerome Powell continues to push the …
Federal Judge David O. Carter says Los Angeles’ “inaction” is “so egregious, and the state so nonfunctional” that it’s likely “in violation of the Equal Protection Clause.” Full text and links here: https://reason.com/video/2021/07/07/l…
But sales of “superminis” are growing. By Don Quijones, Spain, UK, & Mexico, editor at WOLF STREET. Sales of new passenger vehicles, as measured by registrations, fell 3.4% in March from a year earlier in the UK, the second largest auto market …
via Money: Drivers in the United States railing against the wild driving habits of teenagers may have to find another target for their road rage after the release of a new survey indicating that over the last three decades a smaller proportion …
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter Bitter irony: Government told first-time buyers 5 months before bust began to “get into the Sydney housing market”; once in, “you’re pretty well set for life.” “Nothing goes to heck in a straight line” because …
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter Bottom fishers were taken out the back and shot. It just doesn’t let up with Deutsche Bank — or with European banks in general. A new day, a new scandal, a new historic low in the …
by Martin Armstrong The latest data from Euro Stat for September 2018 demonstrates the complete failure of the ECB and its Quantitative Easing. The Euro area (EA19) seasonally-adjusted unemployment rate came in at 8.1% in September 2018, which was down …
by Charles Hugh-Smith Here’s the difference between a recession and a depression: you can’t get blood from a stone, or make an insolvent entity solvent with more debt. There are two basic differences between a recession and a depression: 1. …
by John Rubino The yield on Italy’s 10-year bond is up by about 100 basis points from its 2018 low. Meanwhile, its government continues to borrow money and roll over its existing debt. But now it has to do so …
by Jesse “Last year Simon & Schuster released The Chickenshit Club: Why the Justice Department Fails to Prosecute Executives by the Pulitizer Prize winning journalist at ProPublica, Jesse Eisinger. If you read nothing else this summer, you should read this book followed …
From Birch Gold Group Just like a car with a bad cooling system, the U.S. economy may be overheating, and could break down soon. Why? Aside from trade wars, geopolitical tension, and debt, inflation might stand center-stage as the final nail in the U.S. economic “coffin”. …
by John Rubino When an entity needs to borrow ever-greater amounts of money to survive, the markets – that is, the people who are being asked to lend the money – eventually rebel. This rebellion takes the form of rising …
by Dave Kranzler of Investment Research Dynamics The inevitable is finally starting to unfold. The downgrade to triple-C by Moody’s came as a surprise, at least to me. Historically Moody’s has been the last to downgrade collapsing companies. The most famous was its …
There’s another theory floating around as to why Facebook cares so much about the way it’s impacting the world, and it’s one that I happen to agree with. When Zuckerberg looks into his big-data crystal ball, he can see a …