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Is Anybody NOT Deeper In Debt?

by John Rubino on February 12, 2016 · 17 comments

The New York Federal Reserve just announced that older Americans are carrying more debt than ever before and, believe it or not, spins this as a good thing: New York Fed Finds Large Increase in Debts Held by Those Over Age 50 (NASDAQ) – Americans in their 50s, 60s and 70s are carrying unprecedented amounts […]

Reversal Of Fortunes: Capital Pours Out Of Banks And Into Gold

For banks, the recent news is pretty grim. But it’s about to get much worse, based on the following: Yield Curve Flattens: Now 10-Year Yields Just 1% More than 2-Year (Barrons) – Ye olde yield curve keeps getting flatter. Wednesday continued the trend — which is most pronounced between two and 10-year maturities. At 2:30 […]

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2007 All Over Again, Part 3: Banks Starting To Implode

So far, each financial crisis in the series that began with the junk bond bubble of 1989 has been noticeably different from its predecessors. New instruments, new malefactors, new monetary policy experiments in response. But the one that’s now emerging feels strikingly similar to what just happened a few years ago: Banks overexposed to assets […]

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The Bear Is At The Door, Part 1: Momentum Stocks Getting Crushed

One of the common transitions that bull markets go through as they age and die is a narrowing of leadership. As formerly strong sectors begin to stall out, investors shift into whatever is still looking good — that is, whatever still has upward momentum. Eventually capital becomes concentrated in just a few names. Then those […]

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Bad Numbers And Dark Prophecies: Almost Everybody’s Cutting Something

The drumbeat of bad (and sometimes just plain weird) news has risen lately — but today’s batch stands out. Here’s a small sampling: US jobless claims were higher than expected, and continue the rising trend of the past few weeks. US layoffs surged to a six month high, while asset write-downs are up worldwide. Among […]

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