Crisis

Argentina Central Bank’s Sudden Dollar Shortage Sparks Fears Of Mass Corporate Credit Crisis

By Tyler Durden Despite Emerging Markets’ recent surge higher on the heels of a dumping dollar and massive global liquidity injections, at least one country is facing crisis rather than crescendo. MSCI Emerging Market stocks have soared… Source: Bloomberg YPF, a 99-year-old oil company that some have called Argentina’s flaghship company, is threatening a large-scale…

UK Demand For Electric Cars Soars Despite COVID Crisis

Reacting to the latest new UK car registration figures from SMMT today, Chief Executive Mike Hawes said: “2020 will be seen as a ‘lost year’ for automotive, with the sector under pandemic-enforced shutdown for much of the year and uncertainty over future trading conditions taking their toll.” Despite the clear crisis the Covid-19 pandemic has caused for…

Homebuyers Face Affordability Crisis, Worst In 12 Years 

Between record-low mortgage rates (thank you Federal Reserve), Congress’ fiscal stimulus checks, record debt-fueled demand, and extremely low supply, the housing market entering 2021 is in bubblelicious territory, surpassing levels not seen since the 2006/7 housing bubble.  Of course, surging home prices mean that millennials can’t afford to buy as this has pushed affordability to…

More Than Half Of Chinese Adults Overweight As Obesity Becomes Latest Health Crisis 

The prevalence of obesity has become a worldwide phenomenon, and in China, the world’s most populous country, adults are becoming increasingly overweight.  It seems that over the last few decades, China has “absorbed” the best the “West” has had to offer, which includes fast-food restaurants, credit cards, smartphones, apps, and also all the stolen intellectual property,…

How California Politicians Created a Homelessness Crisis

By Craig Eyermann California has more homeless people than any other state, with large homeless tent camps occupying the sidewalks of many of its streets. California also has the second most expensive housing of all states, lagging only behind Hawaii. Writing at the Washington Examiner, Timothy P. Carney wonders to what extent the state government’s…

Biden Names As “Climate Czar” Former EPA Chief Blamed For Flint Water Crisis

Joe Biden will name Gina McCarthy as his White House “climate czar“, making the former head of the Environmental Protection Agency his top domestic climate coordinator. The news sparked outrage among those who pointed out that agency’s failures during the Flint water crisis. Gina McCarthy The criticism rained from all both sides of the aisle,…

The Oil Refinery Crisis Will Worsen This Winter

The Oil Refinery Crisis Will Worsen This Winter Tyler Durden Thu, 12/10/2020 – 20:20 Authored by Julianne Geiger via OilPrice.com, It was only to be expected that many of the world’s refiners would be pinched between low demand for finished products and rising inventories as the pandemic lockdowns continue to stifle activity. But the warm…

Deflation Is Back In China As CPI Turns Negative For First Time Since The Financial Crisis

Yesterday, when discussing the biggest jump in Chinese FX reserves in 7 years we wondered if this was an indication that the PBOC was starting to lean against the surging yuan. Today, after the latest Chinese inflation data released moments ago, we are confident that it is only a matter of time before Beijing will…

The BIS Issues A Dire Warning: “We Are Moving From The Liquidity To The Solvency Phase Of The Crisis”

There are three certainties in life: death, taxes and the BIS – the central banks’ central bank – warning about excesses from monetary policy (the most recent amusing example of this was last October when as we wrote, “Fed Announces QE4 One Day After BIS Warns QE Has Broken The Market“). Actually, to this list…

​​​​​​​”2021 Will Be Catastrophic” – UN Warns Of Humanitarian Crisis As 270 Million People May Starve

While 2020 could be one for the record books, the UN is out with a new warning that a humanitarian catastrophe could be setting up for 2021.  World Food Programme (WFP) chief David Beasley sounded the alarm at a United Nations General Assembly meeting Friday about the reemergence of the virus pandemic and resulting humanitarian crisis, reported…

Bitcoin’s Gut Check: The Time Of Crisis As The Moment Of Truth

Authored by Marc Bernegger via CoinTelegraph.com, If Bitcoin weathers the current financial storm, our monetary system will be on the brink of dramatic changes or even a revolution. image courtesy of CoinTelegraph We are at a turning point in history. The coming months will show how institutional investors will react in the medium term to…

Growing Food Bank Lines Across America Signal Economic Crisis Far From Over

By Tyler Durden Millions of Americans face food and housing insecurity this holiday season. The unemployment rate stands around 6.9%, with more than ten million folks still out of work. Permanent job loss continues to soar, now about 3.8 million, as a double-dip recession becomes increasingly likely by year-end. We recently pointed out that food bank lines…

Growing Food Bank Lines Across America Signal Economic Crisis Far From Over 

Millions of Americans face food and housing insecurity this holiday season. The unemployment rate stands around 6.9%, with more than ten million folks still out of work. Permanent job loss continues to soar, now about 3.8 million, as a double-dip recession becomes increasingly likely by year-end.  We recently pointed out that food bank lines continue to increase…

Losses From Student Loans May Eclipse Subprime Crisis

As regular readers know, we’ve been keeping tabs on the mounting risks in the student loan market for years, as an ongoing racket between lenders and universities have pushed tuition to astronomical levels – leaving millions of graduates with mountains of debt for expensive credentials they can’t reasonably repay. Now, according to a new analysis…

One In Five US Hospitals Are On The Verge Of A Staffing Crisis

As COVID-19 cases surge pushing hospitalizations to levels unseen since the start of the pandemic, hospitals around the country are facing a staffing crisis. According to Bloomberg, 1 in 5 American hospitals anticipates a “critical staffing shortage” within a week’s time, according to DHHS. Midwestern states like Missouri, Wisconsin and North Dakota have reported the…

“Next Crisis Bigger than COVID” – Power Grid/Finance Down – WEF Cyber Polygon

By The Ice Age Farmer The World Economic Forum warns of a new crisis of “even more significant economic and social implications than COVID19.” What threat could possibly be more impactful? Christian breaks down the WEF’s “Cyber Polygon” tabletop exercise, its participants, and predictive programming around a looming large-scale cyberattack on critical infrastructure that would…

UK Demand For Electric Cars Soars Despite COVID Crisis

Reacting to the latest new UK car registration figures from SMMT this week, Chief Executive Mike Hawes warned: “When showrooms shut, demand drops, so there is a real danger that with England today entering a second lockdown, both dealers and manufacturers could face temporary closure. What is not in doubt, however, is that the entire industry now…

Erdogan Fires Turkish Central Bank Governor, Launching Full-Blown Currency Crisis

Back in July 2019, when Turkey’s economy was in freefall and its inflation was soaring following a historic currency crash in mid-2018, and shortly after Erdogan became a de facto executive and unopposed ruler of Turkey, the Turkish president had a brilliant idea: take decades of monetary orthodoxy and flip them on their head. Faced…

No End in Sight for Rohingya Crisis

By Beenish Ashraf An estimated 730,000 Rohingyas had crossed into Cox’s Bazar in Bangladesh three years ago in order to flee persecution in Myanmar’s Rakhine State. Although the Rohingyas, who are currently residing in Bangladeshi camps as refugees, wish to return to their homes in Rakhine State, very little has been done to create a…

The Crashing Rental Market Could Set Off The Next Housing Crisis

  We have extensively followed the collapse in rental prices since the beginning of the pandemic here on Zero Hedge (for examples, look here  and here and here). In addition to prices collapsing, some tenants affected by the lockdowns have simply decided they no longer want to pay rent and are stiffing their landlords with little consequences….

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