News and Trends

July 6, 2015

The next Greece may be in the U.S. - Market Watch--6.30.15
Several cities in the United States have already had to file for bankruptcy. The United States may soon suffer the same problems as Greece.

Puerto Rico governor calls for bankruptcy; adviser says island 'insolvent' - Reuters--6.30.15
Puerto Rico's governor called for Washington to allow a bankruptcy debt restructuring as the island is struggling to relieve a $73 billion debt burden.

Greece’s Debt Crisis Sends Stocks Falling Around Globe - NY Times--6.29.15
Stocks slumped on Wall Street after Greece closed its banks on fears that the country was headed toward default.

Forget Grexit, "Madame Frexit" Says France Is Next: French Presidential Frontrunner Wants Out Of "Failed" Euro - Zero Hedge--6.25.15
The Naional Front's Marine Le Pen has just warned that not only is the Greek exit inevitable, but France is soon to follow.

Excluding Obamacare And The "Harsh Winter", Q1 GDP Tumbled -1.4% - Zero Hedge--6.24.15
If it wasn't for Obamacare and the "harsh winter", Q1 GDP would have tumbled by a consolidated -1.4%.

Big investors are dumping stocks like it's 2008- Yahoo! Finance--6.23.15
Clients' net sales of US stocks amounted to $4.1 billion last week with most of the selling being led by institutional investors.

70 million Americans teetering on edge of financial ruin- Market Watch--6.23.15
According to a new survey, one in three Americans have no emergency savings at all and only 22% of Americans have at least six months of emergency savings.

'It's time to hold physical cash,' says one of Britain's most senior fund managers - The Telegraph--6.20.15
A manager from one of Britain's biggest bond funds is urging investors to spread their money into different assets, including gold and silver.

Greek debt crisis is the Iraq War of finance - The Telegraph--6.19.15
The ECB is warning of an "uncontrollable crisis" if there is no creditor deal, followed by soaring inflation, a rise in unemployment and a collapse of the Greek economy.

Greece could be forced to lock down savers’ cash as debt crisis worsens- The Independant--6.17.15
Greece's central bank has issued its clearest warning yet that the country is on course for default. Financial ministers across Europe also confirmed they are making contingency plans for a messy ending to the crisis.

NatWest and RBS customers are panicking after thousands of payments went 'missing' overnight - Independent--6.17.15
RBS has alerted customers that 600,000 overnight payments may be "missing" from bank accounts at NatWest, Coutts and Ulster Bank due to a 'technical glitch'.

What's The Real Unemployment Rate In The US? - Zero Hedge--6.16.15
According to the author of this article, roughly 60% of the civilian workforce is fully employed while the rest of the workforce is either marginally employed or unemployed.

U.S. manufacturing sector said to be in a technical recession - Market Watch--6.15.15
The U.S. factory sector has slipped into a technical recessions mostly due to lower oil prices, a strong dollar and global weakness, according to new data.

Get ready for a 4,000-point Dow drop - Market Watch--6.10.15
One expert says the current interest rate environment is pointing to a massive decline for the U.S. market.

HSBC to shed 50,000 jobs in quest for higher payouts - Reuters--6.4.15
HSBC has laid out plans to slash nearly 50,000 jobs and shrink its investment bank by a third to combat sluggish growth across the company.

The stock market is becoming a 'lose-lose' situation- Yahoo! Finance--6.4.15
In a note to clients, Michael Hartnett wrote that with the Fed set to raise interest rates and the US economy underperforming, we could be facing a tough period for investors.

Factory Orders Scream Recession, Drop 6% From Year Ago In Sixth Consecutive Drop - Zero Hedge--6.2.15
Factory Orders tumbled 0.4% MoM in April against expectations of a modest 0.1% decline. This is the sixth month in a row of YoY declines in Factory Orders, something not seen previously outside of a recession.

"News and commentaries posted at Swiss America does not necessarily express the opinions of Swiss America nor of its personnel. Swiss America attempts to post only credible news and opinions, however we do not take responsibility for the accuracy of external content nor should it be construed as an endorsement."

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