Silver as an investment

Tag Archives: default

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 […]

Earth’s Economy Glorifies Waste, Exploitation, Debt, Expediency, & Magical Thinking

Authored by Charles Hugh Smith via OfTwoMinds blog, Humanity appears to default to magical thinking when faced with untenable situations that demand systemic change. How would extraterrestrial anthropologists characterize Earth's dominant socio-economic system? It's not difficult to imagine their dismaying report: "Earth's economy glorifies waste. Its economists rejoice when a product is disposed as waste […]

Illinois Budget: What It Does And Doesn’t Do (Surprise Giveaway To Muni Bondholders?)

Authored by Mike Shedlock via MishTalk.com, Illinois now has a budget, the first in three fiscal years. An excellent writeup on The Stump entitled Illinois Financial Disaster: Even More Reactions to the Budget explains what passage of the budget does and does not do. Here are some links mentioned by The Stump and a few additional […]

“It’s Too Late” – 7 Signs Australia Can’t Avoid Economic Apocalypse

Authored by Joe Hildebrand and John Adams via News.com.au, AUSTRALIA has missed its chance to avoid a potential “economic apocalypse”, according to a former government guru who says that despite his warnings there are seven new signs we are too late to act. The former economics and policy adviser has identified seven ominous indicators that […]

Canadians Brace For A “Perfect Storm” Brewing In Housing Market

We’ve spent a fair amount of time discussing Canada’s housing market over the past several months as Chinese money laundering operations have sprouted up bubbles all over the place.  Here’s a modest sampling of our recent work: All Hell Breaks Loose In Toronto’s House Price Bubble Canada’s Housing Bubble Explodes As Its Biggest Alternative Mortgage […]

Maduro Thugs Storm Venezuela National Assembly, Beat Opposition Lawmakers, Default Risk Jumps

Venezuela celebrated 206 years of independence in a manner uniquely befitting Latin America’s socialist paradise: A gang of armed Maduro supporters broke into the National Assembly and viciously assaulted opposition lawmakers, nearly killing one. Here’s Reuters: “The melee, which injured seven opposition politicians, was another worrying flashpoint in a traumatic last three months for the […]

Italy Openly Discusses Euro Exit In Parliament: Debt Restructuring Or “Italeave” On The Way?

Authored by Mike Shedlock via MishTalk.com, In Europe, where it is essentially taboo to publicly discuss anything deemed politically incorrect, some interesting conversations are taking place in the Italian parliament regarding the future of Italy in the eurozone.  Via email, Eurointelligence asks Is Italy heading for debt restructuring or euro exit? We are reporting from […]

New York’s “Billionaires Row” Suffers Biggest Foreclosure In History

In the latest sign that NYC’s ultra-high end property market is on the verge of imploding after a wave of overly aggressive development, another luxury condo at Manhattan’s One57 tower, a member of “Billionaire’s Row,” a group of high-end towers clustered along the southern edge of Central Park, has gone into foreclosure – the second […]

Ron Paul Interviews Snowden On The “Rise Of The Deep State”

In a discussion with Edward Snowden on his weekly “Liberty Report," Ron Paul and the former NSA contractor trace the genesis of the so-called Deep State, and discuss how the US intelligence community uses covert programs like those exposed by Snowden in 2013 to trample individual freedoms. The most sinister quality of the Deep State, Snowden […]

Bill Blain Flips Out: “Not Much Surprises Me Any More About Markets, But Really? Really!?”

On Monday morning, we reported that in a stunning development, chronic defaulter Argentina – which just one year ago emerged from its latest bankruptcy – has found enough willing greater fools to sell 100-year bonds to. One person who especially stunned, was Mint’s Bill Blain, who issued an entire note describing his disgust with what […]