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Archive | Banksters

Dead mall

Retailer bankruptcies, dead malls, broke shoppers

We keep hearing the economy is improving, yet major retailers are going under. Since 2015, they include Aeropostale (800 stores), Pacific Sunwear of California (600 stores), Body Central Corp (256 stores), Anna’s Linens, Radio Shack, and more. This puts thousands more out of work, making local economies worse. A major culprit here are the usual […]

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Rose colored glasses

California’s net worth is negative $127.2 billion

California has so overspent for decades, pumping out ever more bond issues because of course more debt is always the best way to pay off existing debt and prosperity is just round the corner, that it now has a negative net worth of $127 billion, according to the state auditor. Yet incredibly the auditor’s numbers […]

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Brazil is in serious trouble and it’s getting worse

The economy of Brazil is shrinking so rapidly it could trigger a depression. The Zika virus endangers health of newborn babies. It appears ill-prepared for the coming Summer Olympics. Worst of all, a ginormous corruption scandal threatens the current government and previous president Lula. This is now ordinary scandal. It involves their ginormous energy company […]

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<small><a rel="nofollow" style="text-decoration: none;" href="http://wpinject.com/" title="Image inserted by the ImageInject WordPress plugin">Photo</a> by <a href="http://www.flickr.com/photos/8623220@N02/2178255571" target="_blank">The Library of Congress</a> </small>

Some EFTs are deliberately filled with toxic slop

Some EFTs apparently are little more than sewer catchments for Wall Street to sell risky junk to then foist upon an unsuspecting public as solid investments. Astonishingly, many of them have no physical assets but instead own risky and deliberately opaque financial instruments like swaps which a retail investor has little hope of understanding. This of […]

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Freeport CDS spread

Freeport debt downgraded to junk, CDS spread spikes

Freeport McMoRan is one of the biggest mining companies on the planet. Falling copper prices and too much debt are cratering the company and its stock price. They employ 80,000 people. There will be pain. Moodys just downgraded their debt to low-end junk. Their CDS spread is now over a whopping 2000, which means insuring […]

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FHA loans up

If 3% down is just too much, FHA has a deal for you

The FHA dropped mortgage-insurance costs an average of $900 a year and their loan originations for mostly first-time buyers soared 54% YOY in September. Um, if saving $75 a month on mortgage insurance means you can then “afford” a mortgage, then you actually can’t. Any unexpected bill will probably put you behind in your payments. […]

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