No-deal Brexit an ‘instantaneous’ shock to economy: Carney AFP•August 2, 2019 London (AFP) – Bank of England governor Mark Carney on Friday warned that a no-deal Brexit would be a shock for Britain, causing supply disruption and potentially undermining entire sectors of the economy such as the car […]
Business as Usual? Middle Class Death Spiral: Consumers Have Never Been In More Debt, And Bankruptcies Are Surging August 13, 2019 by IWB This wasn’t supposed to happen. During the relative economic stability of the past few years, the middle class was supposed to experience a resurgence, but instead it […]
Business as Usual? Subprime Auto Loans Blow Up, Delinquencies at 2009 Level, Biggest 12-Month Surge Since 2010 August 14, 2019 by IWB But these are the good times. Automakers are not amused. The auto industry depends on subprime-rated customers that make up over 21% of total loan originations. Without these […]
Heavy-Truck Orders Collapse Stunning 81%. Lowest Since 2010 August 3, 2019 by IWB Order backlog still feeds truck makers, but they don’t disclose for how long. Orders for Class 8 trucks – the iconic trucks that haul part of the economy’s goods across the country – collapsed by 81% in […]
Business as Usual? US economy warning: Poll shows 60 percent of gold investors foresee pre-2020 US recession A RECESSION is set to hit the US next year, in part triggered by the President Trump’s trade war with China, a damning poll by gold investors has predicted. By TOM FISH […]
Fed Nominee Judy Shelton Says Global Economy in Very Dangerous Situation Situation Like 1930s… Acting IMF Chief Says It Is Fragile August 2, 2019 by IWB Prospective Fed nominee Shelton says global economy in ‘very dangerous situation’ like 1930s Judy Shelton, who is President Donald Trump’s likely nominee to the […]
Business as Usual? Stock buybacks are reaching dangerous levels. Corporate “Payout ratios are elevated, cash balances have declined and leverage has risen to a new all-time high.” By Matt Egan, CNN Business Updated 12:43 PM ET, Tue July 30, 2019 New York (CNN Business) The US-China trade war might be having a […]
Business as Usual? Walgreens plans to close 200 U.S. stores, according to new SEC filing. CVS has already closed 46 locations this year. Kelly Tyko, USA TODAY | Updated 9:11 p.m. ET Aug. 6, 2019 Walgreens plans to close approximately 200 U.S. stores, the company announced Tuesday in an SEC […]
Business as Usual? California’s largest recycling business closes, 750 laid off. RePlanet closed all 284 of its centers. The move came three years after RePlanet closed 191 of its recycling centers and laid off 278 workers. Associated Press•August 5, 2019 SAN JOSE, Calif. (AP) — California’s largest operator […]
Business as Usual? Sears and Kmart are closing these 26 stores in October By Jordan Valinsky, CNN Business Updated 10:50 AM ET, Wed August 7, 2019 New York (CNN Business) More than two dozen Sears and Kmart stores are closing, as the company continues to struggle after emerging from bankruptcy. […]
