Silver as an investment

Category Archives: Capital One

Ethereum Surges To New Record Highs – Bigger Than Capital One, ICE, & eBay

Following its big surge Thursday, Ethereum has broken through the psychologically important threshold of $400, establishing a new all-time high – currently hovering above $450. image courtesy of CoinTelegraph As CoinTelegraph reports, despite some market stagnation caused by the news of the $280 mln Parity wallet hack in early November, the second-most-popular cryptocurrency looks stronger […]

So Why Did Capital One “Suddenly” Exit Mortgage Lending??

Last week, Capital One Financial (COF) announced that is was formally withdrawing from the residential mortgage loan market.  Some observers mistook this announcement for news, thinking that COF had actually been engaged in residential lending in a serious way.  Housing Wire, for example, reported that COF had “suddenly” exited the mortgage and home equity business. […]

Consumerism ‘Softens’ The Reality Of Powerlessness

Authored by Charles Hugh Smith via OfTwoMinds blog, Consumerism is a simulacrum of real economic agency. There is perhaps no better metric of class in America than personal power–what is known as agency: the power to influence or transform one's circumstances in a a self-directed manner. Those with agency have power, those without agency (or […]

“It’s Better To Turn Cautious Too Soon…”

Authored by Simon Black via SovereignMan.com, One of the greatest investors in the world is getting worried… Howard Marks is the billionaire founder of Oaktree Capital, one of the largest and most successful investment firms in the world. A few times each year Marks write up his thoughts about financial markets– he calls them ‘investment […]

UBS Explains Who’s Most At Risk In The Next Consumer Deleveraging Cycle

In their 2Q 2017 survey, UBS found that, for the first time since at least 2014, the trajectory of financial health of low-income households has started to diverge from that of more affluent households.  Per the graph below from UBS’ credit strategy team led by Matthew Mish, while a firming job market has helped households […]

Warren Buffett May Soon Be The Largest Shareholder In A 2nd US Megabank

Remember when Warren Buffett anecdotally "took a bath" when he decided to effectively rescue Bank of America with a $5 bilion equity injection in 2011? He may be due for another bath any minute. Warren Buffett, already the largest shareholder in recently disgraced Wells Fargo, could soon become the largest shareholder in another US megabank […]

Meet The Three Headed Debt Monster That’s Going To Ravage The Economy

Authored by EconomicPrism's MN Gordon via Acting-Man.com, Mass Infusions of New Credit “The bank is something more than men, I tell you.  It’s the monster.  Men made it, but they can’t control it.” – John Steinbeck, The Grapes of Wrath Something strange and somewhat senseless happened this week. On Tuesday, the price of gold jumped over […]

Credit Card Defaults Surge Most Since Financial Crisis

In late April, after some disturbing monthly charge-off reports from major credit card vendors, we reported that according to the latest data from the S&P/Experian Bankcard Default Index, as of March 2017, the default rate on US credit cards had jumped to 3.31%, an increase of 13% from a year ago, and the highest default […]

What Keeps Bank of America Up At Night

It has been a painful, bruising intellectual exercise for BofA’s HY credit strategist Michael Contopoulos, who after starting off 2016 uber-bearish, was – together with every other money manager and advisor – taken to the woodshed, and forced to flip bullish, kicking and screaming, and advising BofA clients to buy the same junk bonds he […]

There Is Only One Way Out of Debt-Serfdom: Fanatic Frugality

Authored by Charles Hugh-Smith via OfTwoMinds blog, Debt is serfdom, capital in all its forms is freedom. If we accept that our financial system is nothing but a wealth-transfer mechanism from the productive elements of our economy to parasitic, neofeudal rentier-cartels and self-serving state fiefdoms, that raises a question: what do we do about it? […]