China Sickening into Classic Emerging Market Crisis
More and more analysts are getting nervous about China. Are there concerns warranted?
Read more...Category Archives: Credit markets
Is the Great China Crash Upon Us?
No large economy has made a crisis-free transition from being investment/export led to consumption led. Is China finally starting its Big One?
Read more...Wolf Richter: #Carmageddon Not Yet, But Hot Air Hisses out of Auto Bubble
Despite record incentives, auto sales decline speeds up, inventory bloat spreads to zombie malls.
Read more...The Fall of the Latin American Left, Part III: Argentina and the Right Winning Elections
How the Kirchner program in Argentina ran into the buzz saw of currency markets.
Read more...“Howard Marks Seems to Read Naked Capitalism” on Private Equity Fund-Level Borrowing That Juice Reported Returns While Increasing Risks
Storied investor Howard Marks penned a not-very-positive post on private equity subscription lines of credit, echoing our earlier warnings.
Read more...Wolf Richter: Private Equity in the Thick of Bricks and Mortar Retail Implosion
The distress at traditional retailers has been made much worse by private equity asset stripping rendering them fragile.
Read more...Big US Banks Make Laughable Excuses for Preserving Failed Universal Bank Model
Count on the banks to keep trotting out tired excuses for their too-big-to-faill ways.
Read more...Student Debt Bubble Sucks Even More Out of Economy and Ruins Lives, Yet Officials Keep Inflating It
The student debt problem is only getting worse and no one in power has any interest in addressing it.
Read more...Wolf Richter: Great Debt Unwind: Consumer Bankruptcies Jump, First Since 2010; Commercial Bankruptcies Spike
Both consumer and commercial bankruptcies spiked in March– and the oil bust’s not to blame.
Read more...Bill Black: Why Did Preet Bharara Refuse to Drain the Wall Street Swamp?
If you still doubt that Bharara and other federal prosecutors could have gone after bank executives but chose not to, this should settle it.
Read more...Magnus: China Must Reform or Bust
China’s debt markets are looking more and more like the West, circa 2007. And it’s not clear the government can intervene as successfully.
Read more...Commercial & Residential Real Estate Bubble Again a Risk to Financial Stability; Fed’s Rosengren Worried
Real estate is again looking like a ticking time bomb. At super low interest rates, pray tell what does the Fed do if it blows up again?
Read more...Bank of International Settlements Paper Confirms That High Levels of Household Debt Hurt Growth
We’ve written from time to time that not all debt is created equal. Prudent business borrowing enables companies to make investments and expand operations. And even though governments like the US that issue their own currency may nevertheless sell bonds, operationally they can simply create more dough to fund spending. The constraint on spending is […]
Read more...Wolf Richter: “Seriously Delinquent” Auto Loans Surge
Auto loans are have been looking awfully bubbly….and the hangover has begun.
Read more...The CFPB’s Big Opponent, Jeb Hensarling, Rivals Trump in the “Make Stuff Up” Category
House Financial Services Committee chairman Jeb Hensarling takes his best shot at the CFPB and fails to land a single blow.
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