A Wave Of Retail Stores Close

By Mac Slavo – Re-Blogged From Freedom Outpost

Another economic red flag has appeared and its the closure of retail stores.  According to a new report detailing the precarious situation of the current economy, there is “no light at the end of the tunnel” as the closure of brick and mortar stores will continue.

Coresight Research released an outlook of 2019 store closures Wednesday, saying, there’s “no light at the end of the tunnel,” according to several reports, including one from Yahoo News.  According to the global market research firm’s report, a mere six weeks into 2019, United States retailers have announced 2,187 closings of physical stores.  That’s up 23 percent compared to last year. Those closings include 749 Gymboree stores251 Shopko store,  and 94 Charlotte Russe locations.

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Corporate Share Buybacks Looking Dumber By The Day

By John Rubino – Re-Blogged From Dollar Colllpse

A recent MarketWatch article notes that:

GE was one of Wall Street’s major share buyback operators between 2015 and 2017; it repurchased $40 billion of shares at prices between $20 and $32. The share price is now $8.60, so the company has liquidated between $23 billion and $29 billion of its shareholders’ money on this utterly futile activity alone. Since the highest net income recorded by the company during those years was $8.8 billion in 2016, with 2015 and 2017 recording a loss, it has managed to lose more on its share repurchases during those three years than it made in operations, by a substantial margin.

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Bankruptcy Soars As The Country Grapples With An Unprecedented Debt Problem

By Michael Snyder – Re-Blogged From Freedom Outpost

America, you officially have a debt problem, and I am not just talking about the national debt.  Consumer bankruptcies are surging, corporate debt has doubled since the last financial crisis, state and local government debt loads have never been higher, and the federal government has been adding more than a trillion dollars a year to the federal debt ever since Barack Obama entered the White House.  We have been on the greatest debt binge in human history, and it has enabled us to enjoy our ridiculously high standard of living for far longer than we deserved.  Many of us have been sounding the alarm about our debt problem for a very long time, but now even the mainstream news is freaking out about it.  I have a feeling that they just want something else to hammer President Trump over the head with, but they are actually speaking the truth when they say that we are facing an unprecedented debt crisis.

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Has The Subprime Auto Bubble Burst?

By Peter Schiff – Re-Blogged From http://www.Silver-Phoenix500.com

It looks like the subprime auto loan bubble has popped.

Last year, we reported that the auto industry’s check engine light was on. Now it looks like the thing is totally breaking down. Small subprime auto lenders are starting to go belly-up due to increasing losses and defaults. As ZeroHedgenoted, “we all know what comes next: the larger companies go bust, inciting real capitulation.”

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“Bigger Systemic Risk” Now Than 2008 – Bank of England

By Mark O’Byrne – Re-Blogged From http://www.Gold-Eagle.com

– Bank of England warn that “bigger systemic risk” now than in 2008
– BOE, Prudential Regulation Authority (PRA) concerns re financial system
– Banks accused of “balance sheet trickery” -undermining spirit of post-08 rules
– EU & UK corporate bond markets may be bigger source of instability than ’08
– Credit card debt and car loan surge could cause another financial crisis

– PRA warn banks returning to similar practices to those that sparked 08 crisis
– ‘Conscious that corporate memories can be shed surprisingly fast’ warns PRA Chair

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Did OPEC Just Cry Uncle?

By Frank Holmes – Re-Blogged From http://www.Gold-Eagle.com

OPEC Decision Helps Oil Post Its Second Straight Month of Gains

You’ve probably heard by now that, in an effort to lift oil prices, the Organization of Petroleum Exporting Countries (OPEC) tentatively agreed to a production cut at its meeting in Algiers last week. The cartel, which controls more than a third of world output, plans to limit daily production to between 32.5 million barrels and 33 million barrels, down from 33.2 million barrels.

This comes more than two years since oil prices were kneecapped, wreaking havoc on several OPEC member nations’ economies. Saudi Arabia currently faces a steep budget deficit, as oil revenues make up close to 90 percent of the country’s budget. Meanwhile, Venezuela’s currency, the bolivar, has become so worthless that it’s now cheaper to use it as a napkin than to buy actual napkins. Airlines flying to the U.S. won’t even accept bolivars. (Of course, this has more to do with the government’s woeful mismanagement of the country than oil prices.)

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