It is the 16th of October 2019

News

China Beige Book Warns Economic Slowdown Has Begun

When it comes to the global economy, few things matter as much as China, the trajectory of its economy and especially the pace and impulse of its credit creation, which is ironic because virtually all data coming out of China is fabricated and manipulated, and thoroughly untrustworthy, either on purpose or "by accident."

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Pound Flash Crashes After Moody's Downgrades UK To Aa2

In an otherwise boring day, when Theresa May failed to cause any major ripples with her much anticipated Brexit speech, moments ago it was Moody's turn to stop out countless cable longs, when shortly after the US close, it downgraded the UK from Aa1 to Aa2, outlook stable, causing yet another flash crash in the pound.

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'Chapter 22' Bankruptcy Filings Increasingly 'En Vogue' For Struggling Retail Sector

In 2009, U.S. Shipping Partners LP accomplished what we believe was a completely unprecedented feat when they managed to confirm a bankruptcy plan of reorganization in the Southern District of New York that encumbered the new company with more debt than their investment bankers said the company was even worth.

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97 Million American Workers Are Living Paycheck To Paycheck

As we’ve noted time and time again, the number of Americans scraping by with almost no money in their savings account (if they even have a savings account) is staggeringly high - and growing.

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