Search Results for: recession

The Italian jobs? Unemployed youth clash with police in Italy

About 3,000 unemployed demonstrators have clashed with riot police in Naples during a protest against rocketing youth unemployment. The violence erupted in the city after a visit by Labor Minister Elsa Fornero and left 23 people injured. Protesters donned masks of the unpopular Fornero and waved banners calling for Prime …

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European banks on the brink of collapse

Europe banking crisis Deutsche Bank

Top financial institutions in Europe have hardly been more vulnerable to an economic tremor, a situation worsened by the collapse of the German credit market as Berlin suddenly stopped issuing new debt. Europe’s top financial institutions are teetering on the edge of collapse as access to high quality debt products have created a liquidity …

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Federal Reserve cries wolf on interest rates yet again

Federal Reserve Janet Yellen

The Federal Reserve has once again found a convenient excuse for why they again won’t raise rates, but “may do so in December“. Time after time in recent months, they say they will raise rates in the future — most likely to give the illusion that the economy has recovered from the …

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Argentina and 10 more countries near bankruptcy

Bankruptcy

The third-largest Latin American economy Argentina failed to make scheduled payments on its government bonds at the end of July. Credit agency Moody’s Investors Service reported a spike in Argentina’s one-year Sovereign EDF (Expected Default Frequency) to 48% in one week. “Amid increasing concerns that Argentina’s default will exacerbate its …

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Major US retailers closing over 6000 stores

Radioshack

If the U.S. economy really is improving, then why are big U.S. retailers permanently shutting down thousands of stores? The “retail apocalypse” that I have written about so frequently appears to be accelerating. As you will see below, major U.S. retailers have announced that they are closing more than 6,000 …

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JP Morgan accumulating world’s largest physical silver hoard

Jamie Dimon JP Morgan

Why in the world has JP Morgan accumulated more than 55 million ounces of physical silver? Since early 2012, JP Morgan’s stockpile has grown from less than 5 million ounces of physical silver to more than 55 million ounces of physical silver. Clearly, someone over at JP Morgan is convinced that physical silver is a great …

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Will Americans Today Ever Be Able to Retire?

Americans retire today

We are living in very uncertain times.  Global tensions are mounting to new heights, and politicians on both the right and the left are polarizing. The future of Social Security and Medicare is uncertain. Even so, many Americans are unaware of the deeper crisis brewing quietly throughout the country—one which …

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IMF warns Federal Reserve not to raise rates

IMF Federal Reserve not raise rates

The International Monetary Fund has recommended that the US Federal Reserve abstain from any interest rate hikes in the near-term, a recommendation which was subsequently rebuffed by the Fed due to fundamental disagreements over how to approach economic policy. Kristian Rouz — The International Monetary Fund, a Washington-based global lender, has recommended …

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More Mexicans are leaving the United States than entering

Mexican border Mexico

As Donald Trump vows to shield America from a deluge of Mexican migrants, he may be a bit flabbergasted by this fact: More Mexicans have actually left the States than entered it in recent years. The US saw a net decrease in Mexican residents from 2009 to 2014, a report by the …

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The Ups and Downs: Taking Risk When the Economy Fluctuates

The U.S. economy has always experienced some major highs and lows, and currently, is in a decent place. When the market is in the middle, meaning it could be better but it could also worse, it’s often referred to as the “Goldilocks Economy.” Certain aspects of the economy are healthy …

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Citigroup managing director found dead, another banker ‘suicide’

Citibank suicide banker death

Citigroup managing director Shawn D. Miller was found dead in the bathtub of his New York City apartment, following what police suspect was a suicide in a year marked by suspicious banker deaths. Miller, 42, was the global head of environmental and social risk management at New York-based Citigroup, America’s …

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OPEC alliance begins to crumble as price of oil plunges

Saudi Arabia oil

The past few weeks have seen the gradual breakup of the powerful international oil cartel of OPEC, the Organization of the Petroleum Exporting Countries. Comprised of twelve member-states, OPEC has been extremely influential in the oil industry, controlling prices and supply since its inception in 1960. The cartel is most …

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Global economy at crossroads: time to hoard cash or gold?

Cash gold

From Filip Karinja, for Birch Gold Group The global economy is at a crossroads according to Mohamed El-Erian, chief economic adviser at Allianz Global Investors. The former Pacific Investment Management Company chief executive blamed central bank asset purchases (QE) for creating a distortion between the price of assets and their fundamentals. …

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Fed rate hike is the beginning of the end

Janet Yellen Interest Rates Federal Reserve

From Filip Karinja, for Birch Gold Group With the Federal Reserve set to meet next week to vote on what to do with interest rates, many are speculating that we may see a rate hike. This is something Janet Yellen has hinted at over the past few months but has kept delaying. Should …

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Argentina to default on debt; second time in 12 years

Argentina default

Argentina failed to strike a deal to avert its second default in more than 12 years after talks with holdout creditors ended without a settlement on Wednesday. The country’s economy minister, Axel Kicillof, speaking at a news conference at the Argentine consulate in New York, repeatedly referred to the holdout …

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Ron Paul: America has already gone over the fiscal cliff

Ron Paul

US President Barack Obama demanded from Congress immediate action to prevent America from falling of a so-called fiscal cliff, but Rep. Ron Paul (R-Texas) says it might be too late to keep the country afloat. Speaking with Bloomberg Television on Thursday, the lawmaker who ran against Pres. Obama during the …

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This time had better be different: Australian Housing Prices and the Banks

In last week’s post I showed that there is a debt-financed, government-sponsored bubble in Australian house prices (click here and here for earlier installments on the same topic). This week I’ll consider what the bursting of this bubble could mean for the banks that have financed it. Figure 1 Betting the House For two decades after …

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Election 2012: How the winner will destroy America

obamney obama romney

After all the hollow and uninspired elections that this country has suffered through over the past several decades, one might think that at some point long ago the American public would have finally struck a plateau of disenfranchisement; that we could sink no further into despondency, that there is a …

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