We continue to report on important mainstream investors, professional
and private, who have warned about an impending, global financial
catastrophe. Now, add Japanese Prime Minister Shinzo Abe to that list.George Soros, Stanley Druckenmiller, and Carl Icahn among others have all made dire statements. They’ve also reconfigured their portfolios and taken positions in gold and silver and shorted the market.
The latest to join this list of doomsayers is Japanese Prime Minister Abe. This past Thursday at the G7 meeting he warned about the upcoming global crisis.
Abe was trying to generate support for global fiscal stimulus, according to reports. He told G7 members that the present times reminded him of the “post-Lehman era” in 2008. Lehman went bankrupt in September of that year and by 2009, stock markets lost as much as half their value.
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Corporate debt is getting out of control.If you’ve been reading the Dispatch, this isn’t news to you. For months, we’ve been pointing out that U.S. corporations are borrowing massive sums of money.
They’ve borrowed almost $10 trillion in the bond market since 2008, including a record $1.5 trillion last year.
You may not think Corporate America’s debt addiction is your problem. After all, you aren’t the one who borrowed far more money than you can ever pay back.
But, as you’ll see, this debt is a huge threat to anyone with money in the stock market.
• Standard & Poor’s (S&P) issued a troubling warning this month…
S&P is one of America’s biggest credit agencies. It monitors the financial health of Corporate America.
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from X22Report:
Consumer confidence declines and the government scales starts to match the public scale of Gallup.Personal spending surges, but not because individuals are purchasing it is because of the gas prices. Case Shiller reports home prices rising but on a national level they are falling. Wells Fargo will offer 3% down outside of the FHA program. Dallas Fed declines for the 17th months in a row. EU now pushing for all people living in the EU to get a new tax id. Obamacare penalties will now hit small businesses.
Consumer confidence declines and the government scales starts to match the public scale of Gallup.Personal spending surges, but not because individuals are purchasing it is because of the gas prices. Case Shiller reports home prices rising but on a national level they are falling. Wells Fargo will offer 3% down outside of the FHA program. Dallas Fed declines for the 17th months in a row. EU now pushing for all people living in the EU to get a new tax id. Obamacare penalties will now hit small businesses.
by Michael Krieger, Liberty Blitzkrieg:
Now regulators from Bern to Washington are examining evidence first
reported by Bloomberg News in June that a small group of senior traders
at big banks had something else on their screens: details of each
other’s client orders. Sharing that information may have helped dealers
at firms, including JPMorgan Chase & Co., Citigroup Inc., UBS AG and
Barclays Plc, manipulate prices to maximize their own profits,
according to five people with knowledge of the probes.
At the center of the inquiries are instant-message groups with names such as “The Cartel,” “The Bandits’ Club,” “One Team, One Dream” and “The Mafia,” in which dealers exchanged information on client orders and agreed how to trade at the fix, according to the people with knowledge of the investigations who asked not to be identified because the matter is pending. Some traders took part in multiple chat rooms, one of them said.
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Now regulators from Bern to Washington are examining evidence first
reported by Bloomberg News in June that a small group of senior traders
at big banks had something else on their screens: details of each
other’s client orders. Sharing that information may have helped dealers
at firms, including JPMorgan Chase & Co., Citigroup Inc., UBS AG and
Barclays Plc, manipulate prices to maximize their own profits,
according to five people with knowledge of the probes.At the center of the inquiries are instant-message groups with names such as “The Cartel,” “The Bandits’ Club,” “One Team, One Dream” and “The Mafia,” in which dealers exchanged information on client orders and agreed how to trade at the fix, according to the people with knowledge of the investigations who asked not to be identified because the matter is pending. Some traders took part in multiple chat rooms, one of them said.
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from Sovereign Man:
Shocking. Astonishing. Jaw dropping.
There’s just no other way to describe how cheap South Africa is right now.
Between the worldwide decline in commodities prices, and a major crisis of confidence in the national government here, the local currency (South African rand) remains at the lowest level it’s been… ever.
And that’s made nearly EVERYTHING here dirt cheap if you’re spending foreign currency… especially US dollars.
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Shocking. Astonishing. Jaw dropping.There’s just no other way to describe how cheap South Africa is right now.
Between the worldwide decline in commodities prices, and a major crisis of confidence in the national government here, the local currency (South African rand) remains at the lowest level it’s been… ever.
And that’s made nearly EVERYTHING here dirt cheap if you’re spending foreign currency… especially US dollars.
Read More
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