“What many of the harder-hit Sifi banks have in common, said Mr Harnett, was a heavy dependence on US-dollar funding, putting them at risk of a squeeze if US rates continue to rise and the dollar continues to strengthen.”
Read more: https://www.zerohedge.com/news/2018-06-14/some-most-systemically-important-banks-world-are-tumbling
“The collapse of the peso comes despite an endless series of measures to halt it.”
“Desperate oil workers and criminals are stripping the oil company of vital equipment, vehicles, pumps and copper wiring, carrying off whatever they can to make money.”
Read more: https://www.nytimes.com/2018/06/14/world/americas/venezuela-oil-economy.html
“Jobs at PDVSA were once coveted for their generous salaries and benefits, including cheap credit for housing. Now, many PDVSA workers can’t feed their families on wages that amount to a handful of U.S. dollars a month.”
“In addition to the minimum 30 percent black ownership requirement, mining company boards must be 50% black people with 20% black women.”
“Was it General Eisenhower who saw more clearly than any of us?”
Read more: https://bonnerandpartners.com/trumps-not-like-ike/
“The flattening curve pointed to a deep pessimism among bond investors who see the economy fading away its short-term boost from fiscal stimulus and tax cuts.”
“An inverted yield curve has been a great tool to predict U.S. recessions, with the yield spread between three-month bills and 10-year notes falling below zero before each of the past seven slowdowns. But it doesn’t usually happen immediately. That means a recession could come in late 2019, in 2020, or even later. That probably doesn’t come as a surprise to most investors after one of the longest economic expansions in history.”
Read more: https://www.bloomberg.com/view/articles/2018-06-13/fed-decision-an-inverted-yield-curve-is-imminent
“Beinner highlights the increase of global debt, now upwards of $237 trillion and the way the debt has been dispersed as risks to the economy. Rather than banks holding most of the debt as it happened in the financial crisis, this time it’s hedge funds, private equity and investment managers holding most of it. Also worrisome, he says, ratings agencies are again being overly generous with their appraisals allowing for companies with very high debt levels to gain investment-grade ratings.”
Read more: https://finance.yahoo.com/news/fund-managers-say-see-next-economic-crash-looming-144251620.html
“It’s truly astonishing that someone so dangerous and out of touch has been able to rise to power. And even more astonishing how quickly it’s happened.”
