Lowest ever rating for a FPSA state.
NEW YORK (PNN) - June 1, 2017 - The monetary problems plaguing the state of Illinois (not to mention its public pensions) have been widely documented over the past few years, and today the rating agencies finally noticed, when in the span of a few hours, first S&P, then Moody's downgraded Illinois to BB+/Baa3, respectively, both just one notch above junk, the lowest rating ever given to a Fascist Police States of Amerika state, as both agencies cited a long-running political stalemate over a budget shows no signs of ending.
Road to Depression
Lowest ever rating for a FPSA state.
NEW YORK (PNN) - May 29, 2017 - If everything is going to be “just fine”, why are so many big names in the financial community warning about an imminent meltdown? I don’t think that I have seen so many simultaneous warnings about a market crash since just before the great financial crisis of 2008. At this point, you would have to be quite blind not to see that stocks are absurdly overvalued and that a correction is going to happen at some point, and when stocks do start crashing lots of fingers are going to start pointing at President Donald Trump, but it won’t be his fault. The Federal Reserve and other central banks are primarily responsible for creating this bubble, and they should definitely get the blame for what is about to happen to global financial markets.
ATHENS, Greece (PNN) - May 23, 2017 - After nearly eight hours of talks and multiple draft compromises, Athens and its creditors couldn’t reach an accord that would ease Greece’s debt and that would convince the International Monetary Fund to agree to help finance the country’s bailout.
TORONTO, Ontario, Canada (PNN) - April 27, 2017 - With Canada’s housing bubble popping amid the collapse of the country’s largest mortgage lender, it was no surprise that a bailout had been orchestrated, and now we know the source of the $1.5 billion “loan” - 321,000 retired healthcare workers in Ontario.
TORONTO, Ontario, Canada (PNN) - April 27, 2017 - Call it Canada's "New Century" moment.
We first introduced readers to the company we said was the "tip of the iceberg in Canada's magnificent housing bubble" nearly two years ago, in July 2015, when we exposed a major problem that we predicted would haunt Home Capital Group, Canada's largest non-bank mortgage lender: liar loans in particular, and a generally overzealous lending business model with little regard for fundamentals. In the interim period, many other voices - most prominently noted short-seller Marc Cohodes - would constantly remind traders and investors about the threat posed by HCG.
NEW YORK (PNN) - April 25, 2017 - While it is unclear if the Chinese, tired of fighting regulations in Canada, are behind the latest jump in home prices, today Case-Shiller reported that its index of Top 20 cities rose at a 5.9% annual rate, the highest increase since July 2014, citing tight supply and growing housing demand.
SAN FRANCISCO, Kalifornia (PNN) - November 18, 2016 - We have frequently written over the past couple of quarters about the bubbly San Francisco housing market that looks set for another epic reversal as home prices have reached staggering new highs just as employment levels seem to be rolling over. With home prices now implying that only 10-20% of residents can afford the “median” priced home, it's certainly not difficult to understand why demand may be waning.
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- The number of new businesses in the FPSA is collapsing!
- Retail sales growth tumbles to 6-month lows!
- Tent cities full of homeless people are booming all over Amerika as poverty spikes!
- 1 in 6 working age males has no job under Obama!
- In 50 years this has never failed to trigger a bear market!
- Amerika’s hidden jobless rate is a product of a conspiracy!
- Today's layoff news!
- Spain's debt now worth more than value of the economy!
- FPSA homeownership falls to nearly its lowest level in history!
- The FPSA government has a $20.4 trillion retirement problem!
- One quarter of Amerikans in their prime working years are unemployed!
- FPSA existing home sales tumble in warning sign for housing market!
- New home sales unexpectedly plunge!
- Swiss politicians slam attempts to eliminate cash!
- FPSA CEOs unleash Depression fears in earnings calls!
- FPSA services economy slumps to weakest in 13 months!
- Wal-Mart is closing hundreds of stores and laying off thousands of employees!
- The worst ever stock market start is just the beginning!
- Brazil slides into the brink with industrial production down 12%!
- Baltic Dry Index careens to fresh record low!
- FPSA banks have 247 trillion dollars of exposure to derivatives!
- Spending was at an all time low for Black Friday this year!
- Puerto Rico debt bomb about to explode!
- Baltic Dry Shipping Index drops to all-time low!
- Latest payroll jobs numbers are false and misleading!