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China Facing ‘Massive’ Bank Bailouts
From Bloomberg: China may be forced to bail out banks that made loans for local-government projects under the unprecedented stimulus program unleashed in 2008, according to Citigroup Inc. and...
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Everything Falls On Debt Concerns
From Bloomberg: March 24 – Treasuries, the euro, stocks and commodities slid as a downgrade of Portugal’s debt and weaker- than-forecast demand in a U.S. bond auction added to concern governments will...
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Junk Bonds Record in ‘Goldilocks’ Market
From Bloomberg: Junk bond sales reached a record this month as rising profits and record low Federal Reserve interest rates foster lending and investment to the lowest-rated borrowers. Companies...
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China May ‘Crash’ In 9-12 Months
Noted investor and publisher of the fabled “Gloom, Boom and Doom” report, Dr Marc Faber, warns that the Chinese economy may crash within the next 9 to 12 months. From Bloomberg: Investor Marc Faber...
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46 US States In Debt Crisis
46 out of 50 US state governments are now technically bankrupt. To understand how bad that is for the global economy – including Australia – consider the fact that California alone has an economy that...
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S&P Agrees – Barnaby Was Right On US Debt
It’s taken a while. But the wheels of the locomotive named Inevitability grind relentlessly onwards. For the first time in history, Standard and Poors has placed the USA’s credit outlook on...
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Obama Agrees – Barnaby Was Right
Even the US President concedes that Barnaby was right - President Barack Obama, on a cross-country trip to sell his deficit reduction plan, said yesterday that the nation’s finances are...
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Bloomberg: ‘Down Under Hypocrites Bet All On China’s Boom’
Bloomberg savages the hypocrisy and incompetence of Labor’s budget: All in. That’s essentially the message Treasurer Wayne Swan is sending about Australia’s odds-defying bet on Chinese growth. The...
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Reagan’s Budget Director Agrees: Barnaby Was Right
h/t ZeroHedge Former US President Ronald Reagan’s budget director, David Stockman, appears on Bloomberg TV to discuss the USA’s debt crisis, and says that a “technical default is now a virtual...
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Westpac, NAB Survive On US Federal Reserve Life Support
BREAKING NEWS UPDATE: Aggregate balance of US Fed loans to Westpac = USD87.52 billion, NAB = USD378 billion (csv file 1e_Fed Dated Estimated Income Ranking Text Only) From Bloomberg: Fed’s once-secret...
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