Search Results for: gfc

IMF downgrades global growth outlook, lowest since financial crisis

Lagarde IMF National Press Club economic growth

The International Monetary Fund (IMF) has downgraded its forecast for global economic growth for the fourth time this year, reducing the figure to 3.1 percent from the 3.3 percent estimate in July. Modest growth pickup could occur in advanced economies, along with the slowdown in emerging markets, according to IMF. …

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Saxo Bank: 60% chance of global recession within 18 months

Saxo Bank global recession

While markets are forecasting only a 10 percent chance of a global recession, Danish investment firm Saxo Bank puts the odds at over 60 percent. “Our main global macro outlook still maintains that recession is more likely than not in the near future (12 to 18 months) based on the …

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HSBC fined $470 million for 2008 financial crisis, no one jailed

HSBC bank fined 2008 financial crisis

Multinational bank HSBC has agreed to a $470 million settlement with the U.S. government for mortgage lending and foreclosure abuses that worsened the 2008 financial crisis, but is it enough? The Justice Department’s Acting Associate Attorney General Stuart F. Delery said the agreement was “the result of a coordinated effort between federal …

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Federal Reserve unable to deal with next economic crisis

Federal Reserve Janet Yellen

From Filip Karinja, for Birch Gold Group Earlier this week, a Federal Reserve official made the stunning admission that its credit expansion and debt creation policy is no longer having any significant effect on the economy. Now, even those in the mainstream are joining those of us who have been saying it for …

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Crisis spreads to China, Australia, Brazil, Canada, Sweden

Financial crisis

Earlier today, we posted an excerpt from IceCap Asset Management’s latest letter to investors focusing on the farce that is the Greek bailout #3. Which can be summarized simply by the following table… … and Keith Dicker’s assessment which was that “for Greece, it’s mathematically impossible to repay its debt” and that …

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The next banking crisis is coming

By Filip Karinja Following the global financial crisis back in 2008 you’d think the banks had solved their issues and it is business as usual. However this is not the case, something big appears to be lurking in the shadows of the banking system that could make 2008 look like …

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23 countries where stock markets are already crashing

Stock market

You can stop waiting for a global financial crisis to happen. The truth is that one is happening right now. All over the world, stock markets are already crashing. Most of these stock market crashes are occurring in nations that are known as “emerging markets”. In recent years, developing countries …

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The smart money is dumping stocks

Stock market money

We are getting clear signals from the “smart money” that something bad is looming on the horizon. The most obvious signal comes from the ultra-wealthy (those worth $20 million or more) who are rapidly moving out of paper assets and into real assets. For this reason, I want to draw …

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Worst economic problems of our lifetimes coming soon – Jim Rogers

Jim Rogers economic problems lifetimes coming soon

Renowned investor Jim Rogers has forecast the next financial crisis will be the worst in our lifetime where governments and countries could “disappear” and said people should start to “get very worried”. In a podcast interview with MacroVoices Erik Townsend, billionaire commodities investor Rogers (pictured) forecast firms disappearing, in the …

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5 US banks have $40+ trillion in derivatives exposure…each!

JPMorgan

When is the U.S. banking system going to crash? I can sum it up in three words. Watch the derivatives. It used to be only four, but now there are five “too big to fail” banks in the United States that each have more than 40 trillion dollars in exposure to derivatives. …

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Bank of America fined $17 billion for role in financial crisis

Bank of America

Bank of America, the second largest US lender is close to ending a landmark deal with US authorities to pay up to $17 billion – a record fine – to the Justice Department over its role in the 2007 financial crisis. If completed, it will be largest single compensation settlement, …

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World economy is so damaged it needs permanent money printing

USD money printing dollar

Combined tightening by the United States and China has done its worst. Global liquidity is evaporating. What looked liked a gentle tap on the brakes by the two monetary superpowers has proved too much for a fragile world economy, still locked in “secular stagnation”. The latest investor survey by Bank …

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US and UK conducting war games for banking collapse

Money currency

Regulators from the United States and the United Kingdom will get together in a war room next week to see if they can cope with any possible fall-out when the next big bank topples over, the two countries said on Friday. Treasury Secretary Jack Lew and the UK’s Chancellor of …

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The greatest debt crisis the world has ever seen is coming

U.S. National Debt 2013

The largest mountain of debt in the history of the world just continues to grow even larger, and everyone knows that this colossal debt spiral is not going to end well.  But we all keep playing along because nobody wants the party to end.  Right now, there is an unprecedented …

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8 signs that a global economic crisis is coming soon

When the banking crisis crippled global markets seven years ago, central bankers stepped in as lenders of last resort. Profligate private-sector loans were moved on to the public-sector balance sheet and vast money-printing gave the global economy room to heal. Time is now rapidly running out. From China to Brazil, …

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The memo that proves the bankers caused the GFC

Memo GFC

When a little birdie dropped the End Game memo through my window, its content was so explosive, so sick and plain evil, I just couldn’t believe it. The Memo confirmed every conspiracy freak’s fantasy: that in the late 1990s, the top US Treasury officials secretly conspired with a small cabal …

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Steve Keen: “Can we avoid another financial crisis?”

Steve Keen Can we avoid another financial crisis

Economic theory is like a layer cake: Explanations within one layer make sense, but once you move to another layer, they no longer apply. Economist Steve Keen‘s new book “Can We Avoid Another Financial Crisis?” is an illustrative example. The good news is that Keen accurately describes the current economic …

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Put big bank CEOs in jail – Senator Elizabeth Warren

Senator Elizabeth Warren

Sen. Elizabeth Warren (D-Mass.) This past weekend, the Department of Justice slapped a record fine on JPMorgan Chase for packaging and selling the mortgage-backed financial products that helped cause the financial meltdown. But Sen. Elizabeth Warren (D-Mass.) wants the administration to know that fines are not enough. On Wednesday, she called on …

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Central banks secretly invest $29 trillion to keep global markets from crashing

rising chart

Another conspiracy “theory” becomes conspiracy “fact” as The FT reports “a cluster of central banking investors has become major players on world equity markets.” The report, to be published this week by the Official Monetary and Financial Institutions Forum (OMFIF), confirms $29.1tn in market investments, held by 400 public sector institutions in 162 countries, which …

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