The official sector has a problem. Harvey explains...
Americans continue to drive the economy along spending money they don't have. Consumer debt increased yet again in July, setting another record, according to the latest data released by the Federal Reserve.Total consumer debt surged $23.4 billion in July, driven by a huge jump in credit card balances. The big rise in consumer indebtedness took analysts by surprise. Bloomberg said the increase "exceeded all estimates" in a survey of economists. Overall, consumer debt increased by an annual rate of 6.8% after a 4% increase the previous month.
Central banks have inflated bubble after bubble. Today, Daily Reckoning contributor Charles Hugh Smith shows you the three stages of bubbles — with a fourth for good measure. He also addresses how long the show can go on.
One of the key U.S. borrowing markets saw a massive surge Monday, a sign the Federal Reserve is having trouble controlling short-term interest rates.
Recession fears continue to grip Wall Street.
Thomas Cook Group Plc has filed for Chapter 15 court protection in the U.S. as part of a broader debt restructuring for the U.K. travel agent.The company’s Chapter 15 petition was filed in the...
Here are the banks with the biggest cuts.
Facebook Inc. is once again defending Libra -- this time against fears that the envisioned cryptocurrency could replace sovereign currencies from the U.S. dollar to the Euro and threaten central...
Some countries can’t spend more, the others don’t want to. And reforms to bridge the differences have stalled.
Iran’s supreme leader announced on Tuesday that “there will be no talks with the U.S. at any level” — remarks apparently meant to end all speculation about a possible U.S.-Iran meeting between the two countries’ presidents at the U.N. later this month.
This was the second consecutive quarterly decline after four consecutive quarters of record buybacks.
A surge in oil prices following a strike on Saudi Arabia’s crude production will have to get a lot bigger to cause serious trouble for the stock market, according to JPMorgan Chase & Co. strategists led by Marko Kolanovic.The S&P 500 Index may start experiencing a “negative impact” only
China Gold International Resources Corp., the overseas arm of state-owned China National Gold Group, is on the hunt for acquisitions to replenish its pipeline as deal-making in the sector heats up thanks to a jump in the metal’s price.“We need more pipeline, especially in gold production.
When JPMorgan Chase & Co. took over Bear Stearns more than a decade ago, it got two traders with a new trick.Their strategy: Use multiple fake orders to manipulate the prices of precious metals futures. The maneuver, adopted by the traders’ new colleagues at JPMorgan, became part of a
The traders the DOJ just indicted had manipulated the precious metals for years through a criminal racketeering conspiracy? Inconceivable!
The world had 10 years of growth from record-low interest rates, a burgeoning money supply & historic debt levels. Here's what it means for gold & silver...
Gold rallies on safe haven buying after attack on Saudi oil processing facility. Overnight – gold climbs to $1512 after attack knocks out 50% of Saudi oil production,
It was on 8 June 1708 that Spanish galleon sunk with nearly 600 people and up to $20bn worth of gold, silver and jewels.
The right investment could literally be a gold mine. Simon explains...
Gold prices look to have established a new floor at $1,500 per ounce, Kinross Gold Corp’s chief executive officer said on Monday