Silver as an investment

Category Archives: Consumer lending

U.K. Litigation Cases On Defaulted Consumer Debts Soar Beyond 2008 Levels

Last month, S&P warned that UK lenders could incur £30 billion of losses on their consumer lending portfolios consisting of credit cards, personal and auto loans if interest rates and unemployment rose sharply.  Much like in the U.S., S&P warned that "loose monetary policy, cheap central bank term funding schemes and benign economic conditions" had […]

Goldman Ramping Up Private Equity Investments To Offset Low Vol And Low Volume

A Reuters article reports that Goldman is looking to make direct private-equity investments to compensate for weakness in trading. Goldman Sachs Group Inc is ramping up its private-equity investments and going after smaller, high-growth targets as part of a broad plan to offset recent trading declines, three people familiar with the effort told Reuters. Goldman’s […]

Millennials Have Never Been More In Debt, And It Is Creating A Major Risk For The Economy

There is a seemingly unlimited number of disconnects in financial markets these days, not the least of which is the shocking divergence in recent years between the ever plunging unemployment rate in the United States and stubbornly rising delinquencies on consumer debt. In fact, according to a note published earlier today by UBS strategist Matthew […]

“This Is A Full-Blown Scandal: It’s Unbelievable, Outrageous” – Comptroller Demands Heads Roll At Wells

Wells Fargo is in boiling hot water. Again. One day after the NYT reported the latest major scandal involving Warren Buffett’s favorite bank, in which the bank was busted less than a year after its miss-selling fraud cost the former CEO his job, revealing that the bank charged some 800,000 customers for auto insurance they […]

Bill Blain: “The 1-, 4- And 10-Year Cycles Top Out Mid-August At Which Point Be Very Afraid… Or Something Like That”

By Bill Blain of Mint Partners, Blain’s Morning Porridge – June 28th 2017 Uncertainty, confusion, a Tech-sell off.. but are things as bad as they seem? “Now I got mortgages and homes, I got stiffness in my bones, ain’t no beauty queens in this locality…” As we reach towards month end and the half-year, markets […]

12 Million Americans Are About To Get An Artificial Boost To Their FICO Scores

Back in August 2014, we reported that in what appeared a suspicious attempt to boost the pool of eligible, credit-worthy mortgage recipients, Fair Isaac, the company behind the crucial FICO score that determines every consumer’s credit rating, “will stop including in its FICO credit-score calculations any record of a consumer failing to pay a bill […]

“Who Hit The Brakes?” – Bank Loan Creation Suddenly Tumbles To Five Year Low

While the overall economy appears to be humming along, at least according to the Fed which on Wednesday is expected (with 100% certainty according to the market) to hike rates by 25bps for the second time in three months on concerns it has fallen behind the inflationary curve, with last week’s payrolls report providing some […]

Wells Fargo CEO John Stumpf To Retire Effective Immediately

The most anticlimiatic and predictable outcome to the biggest banking scandal to rock Wall Street in recent years, Wells Fargo;s fraudulent creation of 2 million (or more) fake customer accounts, has just concluded in the only possible way: with CEO and Chairman John Stumpf retiring.   The stock has jumped on the news, up 2% […]

UBS Debunks “Strong Consumer” Farce Saying Consumer Credit Cycle Is In “Later Innings”

In an environment where the Fed recently described household spending as "growing strongly," we have often questioned why consumer delinquencies would continue to grow (see "Subprime Auto Delinquencies Soar Past Crisis Levels, Now Highest In 20 Years" and "Subprime Snaps: Largest US Subprime Auto Lender Delays Earnings Due To "Accounting Matters"") if household financial conditions […]

ZeroHedge: ECB Doubles Down on Financial Repression

Be prepared for the next great transfer of wealth. Buy physical silver and storable food. We just posted a comment on the situation in the EU, where financial repression is still increasing.  Big concern from my perspective is that negative rates and central bank market intervention seem to be frightening investors and convincing savers to […]