Merkel Rules Out Bailout For Deutsche Bank: Depositor Bail-In Coming Up? – 09.25.16

 

  • The €42 trillion (notional) derivatives mess known as Deutsche Bank remains under severe pressure. Its market cap is $17 billion. It has no earnings and pays no dividend.
  • On April 23, Deutsche Bank was Fined $2.5 Billion over LIBOR rate rigging. Twenty-one people face criminal charges following a seven-year investigation.
  • On September 16, the US Department of Justice Fined Deutsche Bank $14B for mortgage securities fraud leading up to the 2007-2009 global meltdown.
  • Today, German Chancellor Angela Merkel Ruled Out Assistance for Deutsche Bank.
  • No Comment
  •  Chancellor Angela Merkel has ruled out any state assistance for Deutsche Bank AG in the year heading into the national election in September 2017, Focus magazine reported, citing unidentified government officials.

Read more at:Merkel Rules Out Bailout For Deutsche Bank: Depositor Bail-In Coming Up?

Source: zerohedge.com

The final condition for a market crash is falling into place – 09.24.16

 

  • Sometimes I wonder if I’m ever going to run out of new things to say about the economy. Nothing interesting has happened in a long time.
  • Our liquidity-drunk “markets” remain over-priced due to the chronic intervention of the global central banking cartel, which has demonstrated over and over again that it won’t tolerate even the slightest drop in asset prices. 
  • Those familiar with my writing know I put the word “markets” in quotes because we no longer have a financial system where legitimate price discovery is a regular — or even recognizable — feature.
  • It’s destined to fail. What more can be said about such a flawed system?
  • Well, a lot as it turns out.

Read more at:The final condition for a market crash is falling into place

Source: peakprosperity.com…

It’s Official: America Is Not The Greatest Country On Earth… It’s 28th! – 09.24.16

  • Violence, alcoholism, and obesity pose the biggest risks in the U.S.
    But the rest of the world isn’t doing much better.
  • As Bloomberg reports, Iceland and Sweden share the top slot with Singapore as world leaders when it comes to health goals set by the United Nations, according to a report published in the Lancet.
  • Using the UN’s sustainable development goals as guideposts, which measure the obvious (poverty, clean water, education) and less obvious (societal inequality, industry innovation), more than 1,870 researchers in 124 countries compiled data on 33 different indicators of progress toward the UN goals related to health
    .

Read more at:It’s Official: America Is Not The Greatest Country On Earth… It’s 28th!

Source: zerohedge.com…

What If We’re in a Depression But Don’t Know It? – 09.23.16

 

  • If it isn’t a Depression, it’s a very close relative of a Depression.
  • Just for the sake of argument, let’s ask: what if we’re in a Depression but don’t know it? How could we possibly be in a Depression and not know it, you ask? Well, there are several ways we could be in a Depression and not know it:
  • 1. The official statistics for “growth” (GDP), inflation, unemployment, and household income/ wealth have been engineered to mask the reality
  • 2. The top 5% of households that dominate government, Corporate America, finance, the Deep State and the media have been doing extraordinarily well during the past eight years of stock market bubble (oops, I mean boom) and “recovery,” and so they report that the economy is doing splendidly because they’ve done splendidly.

Read more at: What If We’re in a Depression But Don’t Know It?

Source: charleshughsmith.blogspot.com…

Why the Coming Wave of Defaults Will Be Devastating – 09.22.16

  • Without the stimulus of ever-rising credit, the global economy craters in a self-reinforcing cycle of defaults, deleveraging and collapsing debt-based consumption.
  • In an economy based on borrowing, i.e. credit a.k.a. debt, loan defaults and deleveraging (reducing leverage and debt loads) matter.
  • Consider this chart of total credit in the U.S. Note that the relatively tiny decline in total credit in 2008 caused by subprime mortgage defaults (a.k.a. deleveraging) very nearly collapsed not just the U.S. financial system but the entire global financial system.
  • Every credit boom is followed by a credit bust, as uncreditworthy borrowers and highly leveraged speculators inevitably default.

Read more at:Why the Coming Wave of Defaults Will Be Devastating

Source:charleshughsmith.blogspot.com…

Bakers Unite As Increasing Number Of Poor Greeks Can’t Even Afford A Loaf Of Bread – 09.22.16

  • Almost a year after Greece surrendered into the arms of the international lenders and the International Monetary Fund and the austerity cuts started to affect people’s lives.One Greek explains the dismal reality of everyday life for many…
  •  Did you know that there are people in Greece who cannot afford to buy even a loaf of bread at a cost of €0.60 – €0.70?
  • A bakery in our neighborhood was offering a bread at a special price for pensioners and unemployed. The special price was just half a euro.
  • At one point, I remember that more and more people were going to this bakery and asking for bread from the previous day for a couple of cents or even free of charge.

Read more at:Bakers Unite As Increasing Number Of Poor Greeks Can’t Even Afford A Loaf Of Bread

Source: keeptalkinggreece.com…

Living In A Van Down By The River – Time To Face The True State Of The Middle Class In America – 09.22.16

 

  • Do you remember the old Saturday Night Live sketches in which comedian Chris Farley portrayed a motivational speaker that lived in a van down by the river?  Unfortunately, this is becoming a reality for way too many Americans.  As the middle class has shrunk and the cost of living has increased, a lot of people have decided to quite literally “live on the road”.  Whether it is a car, a truck, a van, a bus or an RV, an increasing number of Americans are using their vehicles as their homes.
  •  Just recently, someone that I know took a trip down the west coast of the United States and stayed at a number of campgrounds along the way.  What she discovered was that a lot of people were actually living at these campgrounds.  Of course there are some that actually prefer that lifestyle, but many others are doing it out of necessity.

Read more at:Living In A Van Down By The River – Time To Face The True State Of The Middle Class In America

Source: theeconomiccollapseblog.com…