A Different Kind Of Wage Inflation Heralds This Cycle’s End

BY JOHN RUBINO 05/10/2019 Towards the end of long expansions (this one is the longest on record) things get tight. Factories operate flat-out and start raising prices. Good workers become harder to find and companies start competing for them with higher wages and other perks. This story is about the “other perks” which, because they don’t show up [...] Read more

Activos sólidos en una época de tipos negativos de interés

By Marcia Christoff-Kurapovna,. Mises Institute 09/30/2017 El tiempo es el alma del dinero, la visión a largo plazo: su inmortalidad. Los activos sólidos son eternos, incluso cuando son destruidos por los cataclismos de la historia. Es la perspectiva que perpetuó a las aristocracias más competentes y poderosas de la Europa continental hasta bien [...] Read more

Hard Assets In an Age of Negative Interest Rates

By Marcia Christoff-Kurapovna, MISES INSTITUTE 09/30/2017 Time is the soul of money, the long-view — its immortality. Hard assets are forever, even when destroyed by the cataclysms of history. It is the outlook that perpetuated the most competent and powerful aristocracies in continental Europe, well up through World War I and, in certain [...] Read more

Mario Draghi: Bitcoin, Cryptocurrencies Are Not Real Currencies

Mario Draghi: Bitcoin, Cryptocurrencies Are Not Real Currencies

By Mario Draghi, ECB 05/08/2019 Mario Draghi, the president of the European Central Bank (ECB), said during a dialogue with students that cryptocurrencies are not real currencies. He has also stated that cryptos are “very, very risky assets” but they do not really have to be something for central banks to be worried about. Mario Draghi Talks About [...] Read more

Chinese corporate defaults this year through April are 3.4 times the amount last year.

By Don Quijones 05/08/2019 Since the global financial crisis, the total value of outstanding corporate bonds has doubled, from around $37 trillion in 2008 to over $75 trillion today. But the growth has been far from even, with non-financial debt growing much more rapidly in certain jurisdictions. As the volume and price of this debt has grown, so [...] Read more

The State of the American Debt Slaves, Q1 2019

By Wolf Richter 05/08/2019 It’s a tough job, but someone’s doing it. Consumer debt – or consumer “credit” more euphemistically – includes auto loans, student loans, credit-card debt, and personal loans, but it excludes housing related debt, such as mortgages and HELOCs. Growing consumer debt helps prop up the US economy because it means that [...] Read more

Businesses in “Critical Distress,” Bankruptcies Surge in the UK

By Don Quijones, Spain, UK, & Mexico, editor at WOLF STREET. 05/07/2019 The number of companies in the UK going into administration — which is when a licensed insolvency “administrator” is appointed to manage a company’s affairs, business, and property for the benefit of the creditors — jumped by 21.8% in Q1 2019 to 451, the highest quarterly [...] Read more

Trade war has wiped out $22B for materials investors

Trade war has wiped out $22B for materials investors

Stock Images By Aoyon Ashraf, Bloomberg News 05/07/2019 How bad is the trade war for materials investors? How about nearly $22 billions lost within day and a half — and counting. The S&P 500 Materials Index fell about 3.4 percent from Friday's close, after President Donald Trump threatened to raise tariffs on billions of dollars of imports [...] Read more

Gold imports by India are said to have jumped ahead of festival

Gold imports by India are said to have jumped ahead of festival

By Shruti Srivastava and Swansy Afonso, Bloomberg News 05/07/2019 Gold imports by India surged in April amid falling prices and higher demand ahead of the second-biggest gold-buying day in the Hindu calendar. Inbound shipments grew to 121 tons last month from 52.8 tons a year earlier, according to a person familiar with the data, who asked not to [...] Read more

What Blows Up First? Part 8: Leveraged Corporate Loans

BY JOHN RUBINO 05./07/2019 By now just about everyone understands what junk bonds are and why they matter. But there’s a non-publicly traded version of this kind of debt that’s also soaring and has recently caught the Fed’s eye. Called leveraged loans, these are loans made by banks to companies with weak balance sheets – defined as debt exceeding [...] Read more

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