Illinois' credit rating is on its way to "junk" status.According to an AP report, S&P Global Ratings recently warned it will likely lower Illinois' creditworthiness to below investment grade if feuding lawmakers fail to agree on a state budget for a third straight year.
Someone is getting rather desperate...
The status quo is now like a wafer-thin, brittle sheet of ice ready to crack... Charles Hugh Smith has more...
The world’s combined public and private debt is approaching 300 percent of GDP. In the United States, public debt alone under presidents george W. Bush and Barack obama jumped from $5.8 trillion in 2001 to $20 trillion in 2016, a 250 percent increase.
Chicago’s police pension fund won’t have enough money to pay benefits to retirees in 2021, according to a projection by Local Government Information Services
The Obamacare replacement plan put forward by Senate Republicans would increase the number of uninsured Americans by 22 million while slashing funding for Medicaid, according to an estimate by the Congressional Budget Office.
Are Billionaires REALLY Buying Gold Bullion Hand Over First?
Illinois' budget crisis has become so dire that the state is in danger of entering a financial death spiral, as a prominent ratings agency threatens to downgrade the state's credit score to junk status.
The economic arguments against central banks are numerous to say the least.
As the United States continues to push towards a military conflict with Russia, there will likely be no real winner when the dust settles. However, if we compare the these […]
Celente says, “It’s over, it’s over and that’s why gold is the ultimate safe haven to me.”
Since that time, OECD population growth has slowed to a crawl and it was CRB's growth that drove the global consumer base to new heights.
While China may now be a part of the world money basket, it seems that gold is still the investment that mainland China seeks for protecting their wealth from currency risks.
Predictably, after the gold price has been pushed down in the paper market by the western Central Banks – primarily the Federal Reserve – negative propaganda to outright fake news […]
“It is to be expected that significant developments on both the global and the European level will increase the risks posed by clearing systems.”
Senate leaders released a slightly revised version of their health-care bill Monday as Senate Majority Leader Mitch McConnell tries to win over enough holdouts to pass the measure.
Two more Italian banks failed over the weekend– Banco Popolare di Vicenza and Veneto Banca. (In other news, the sky is blue.) The Italian Prime Minister himself stated that depositors’ funds were at…
The US Treasury yield curve slope typically inverts (slope goes below 0) prior to a recession. However, although the 10Y-2Y slope has fallen to 78 BPS
The market has been sending “topping” signals for weeks now. They include: 1) Fewer and fewer companies participating in the rally. 2) High yield credit, which leads stocks, rolling over. 3) Weakening momentum. 4) Dwindling volume. 5) Market leaders (the big 5 Tech) beginning to correct. Now the big move is coming. The S&P 500
The crash has to catch almost everyone off guard--those who lost their shirts betting on the market responding rationally to deteriorating data (i.e. those who bet on rising volatility and a market decline)