Stock market counting on record earnings growth by Chris Martenson You have to recognize that either you live in a world where nothing makes the slightest bit of sense, or you live in a world where various prices of things are heavily influenced by officials seeking to sustain the unsustainable. Stock market counting on record earnings growth by Chris Martenson You have to recognize that either you live in a world where nothing makes the slightest bit of sense, or you live in a world where various prices of things are heavily influenced by officials seeking to sustain the unsustainable.
Bankruptcy filing surge by Chris Martenson I wanted to contrast this with the recent miracle 3.3% GDP number. One thing that is NOT consistent with an expanding economy is a big surge in bankruptcy filings. Bankruptcy filing surge by Chris Martenson I wanted to contrast this with the recent miracle 3.3% GDP number. One thing that is NOT consistent with an expanding economy is a big surge in bankruptcy filings.
Bank failure – FDIC takes over Integrity Bank by Chris Martenson Another weekend and another bank failure. The FDIC estimates that the cost to its Deposit Insurance Fund will be between $250 million and $350 million. Bank failure – FDIC takes over Integrity Bank by Chris Martenson Another weekend and another bank failure. The FDIC estimates that the cost to its Deposit Insurance Fund will be between $250 million and $350 million.
Disappearing Money & The Great ‘Flation Debate PREVIEW by Chris Martenson Saturday, August 30, 2008 Here are two recent reader emails and my responses to them. The first asks the question, “Why does money have to disappear when debts get paid down?” and the second asks why I favor an inflationary outcome over a deflationary outcome. Since I think each of these reflects a possible source of broad interest, I decided to give them full responses and turned them into this weekend’s report. Disappearing Money & The Great ‘Flation Debate PREVIEW by Chris Martenson Saturday, August 30, 2008 Here are two recent reader emails and my responses to them. The first asks the question, “Why does money have to disappear when debts get paid down?” and the second asks why I favor an inflationary outcome over a deflationary outcome. Since I think each of these reflects a possible source of broad interest, I decided to give them full responses and turned them into this weekend’s report.
GM cuts off their nose by Chris Martenson If I were to be exceptionally sarcastic here, I would note that it is lucky for GM and its dealers that there was 3.3% GDP growth last quarter. If I were to shrug off the GDP report as hopelessly inaccurate, I would observe that when an auto manufacturer cuts off a $2.1 billion dollar (annually!) distributor of its products over concerns about the financial health of that entity, then there is a deep recession underway. GM cuts off their nose by Chris Martenson If I were to be exceptionally sarcastic here, I would note that it is lucky for GM and its dealers that there was 3.3% GDP growth last quarter. If I were to shrug off the GDP report as hopelessly inaccurate, I would observe that when an auto manufacturer cuts off a $2.1 billion dollar (annually!) distributor of its products over concerns about the financial health of that entity, then there is a deep recession underway.
Prime foreclosures surge by Chris Martenson Wow, with three exclamation points. The fact that PRIME foreclosures have now moved past SUBPRIME foreclosures is a big deal. In case you don’t know, the Hope Now program is a government-sponsored affair that was initiated very early on in the housing/credit bust. Its intent was to help borrowers avoid foreclosure by renegotiating the terms of their deal(s). Prime foreclosures surge by Chris Martenson Wow, with three exclamation points. The fact that PRIME foreclosures have now moved past SUBPRIME foreclosures is a big deal. In case you don’t know, the Hope Now program is a government-sponsored affair that was initiated very early on in the housing/credit bust. Its intent was to help borrowers avoid foreclosure by renegotiating the terms of their deal(s).
Russia threatens to cut off fuel to Europe by Chris Martenson In the US, the most important bit of news is the selection of a VP running mate for McCain. In Europe, it happens to be that you might freeze solid this winter. Russia threatens to cut off fuel to Europe by Chris Martenson In the US, the most important bit of news is the selection of a VP running mate for McCain. In Europe, it happens to be that you might freeze solid this winter.
Fuzzier than ever – GDP reported to be 3.3% by Chris Martenson A truly laughably fraudulent GDP report was released by the government today. However, we’re getting close to this just being a sad parody of Soviet crop reports of old, which were famous for being utterly out of alignment with reality. Fuzzier than ever – GDP reported to be 3.3% by Chris Martenson A truly laughably fraudulent GDP report was released by the government today. However, we’re getting close to this just being a sad parody of Soviet crop reports of old, which were famous for being utterly out of alignment with reality.
Record bank debt coming due by Chris Martenson And here’s the data I’ve been waiting for. To the exhaustive pile of new borrowing that the US government needs to shoulder, we can add $871 billion of debt that financial firms will need to somehow fund at the exact same time. I will be more than a little surprised if this does not result in either drastically higher interest rates, or massive inflation. Record bank debt coming due by Chris Martenson And here’s the data I’ve been waiting for. To the exhaustive pile of new borrowing that the US government needs to shoulder, we can add $871 billion of debt that financial firms will need to somehow fund at the exact same time. I will be more than a little surprised if this does not result in either drastically higher interest rates, or massive inflation.
Problem banks expand 30% by Chris Martenson It’s worth noting that not every bank on the problem list will fail, and not every failure will be on the list. To my knowledge, IndyMac was not on the list prior to failing. But the trend here tells us something meaningful; a 30% increase in problem banks in one quarter says we’re still in the early stages of this credit crisis. Problem banks expand 30% by Chris Martenson It’s worth noting that not every bank on the problem list will fail, and not every failure will be on the list. To my knowledge, IndyMac was not on the list prior to failing. But the trend here tells us something meaningful; a 30% increase in problem banks in one quarter says we’re still in the early stages of this credit crisis.
