May 25, 2016
Hackers could cripple major world banks using our network, says Swift CEO - IT Pro--5.24.16
Swift's CEO is warning that hackers could use its financial transfer system to bring down international banks. The warning came after a bank in Ecuador became the third financial institution to be attacked by hackers using the Swift network.
407,000 Workers Stunned As Pension Fund Proposes 60% Cuts, Treasury Says "Not Enough" - Zero Hedge--5.22.16
407,000 private sector workers are about to lose their pensions. The Central States Pension Fund filed for 60% cuts in pensions and Treasury says its "not enough,"
Signs of fear are running rampant through the market - CNBC--5.20.16
Signs of market fear are everywhere and a year after the market reached record highs market participants pulled their money off the table and began to head for cover.
A Growth Rate Weighed Down by Inaction - NY Times--5.17.16
In the seven years since the U.S. emerged from the Great Recession, annual growth have averaged just about 2 percent. Unless businesses and government do something to improve the economy, the U.S. will be lucky to achieve even that.
U.S. debt dump deepens in 2016 - CNN Money--5.17.16
Central banks are dumping America's debt as a record pace. Countries like China, Russia and Brazil sold off Treasury bonds as they try to soften the blow of the global economic slowdown.
U.S. stocks end at 3-week low as energy, banks sell off- Market Watch--5.3.16
Stocks have fallen to their lowest level in three weeks on weaker-than-expected manufacturing in China which revived worries about global growth. Global growth concerns cause investors to flock to more safe-haven investments like precious metals.
The global economy is in bad shape and getting worse - Market Watch--5.2.16
The International Monetary Fund has recently revised downward their forecasts for global growth. The economy has been slowing since mid-2015 and is now close to recession. The world economy has few bright spots and many that are dimming rapidly.
Here’s one more sign the US economy is slowing - CNBC-- 4.18.16
Sales and profits are falling at more of America's largest companies, according to the latest survey of a group of business economists. The group also reported the pace of hiring has slowed in the last three months.
Deutsche Bank Confirms Silver Market Manipulation In Legal Settlement, Agrees To Expose Other Banks - Zero Hedge--4.14.16
Investors have previously accused Deutsche Bank, HSBC and ScotiBank of manipulating precious metals prices. Now, according to Reuters, Deutsche Bank has signed a binding settlement term sheet, and is negotiating a formal settlement agreement.
5 major banks fail 'too big to fail' test; Citi's plan passes - CNBC--4.13.16
Five out of eight of the biggest banks do not have sufficient plans for winding down operations during a crisis without the help of public money. None of the "too big to fail" banks fared well in evaluations, according to federal regulators.
World Bank lending at record since aftermath of financial crisis - Financial Times--4.10.16
A surge in demand by commodity exporters in the developing world has caused the World Bank to pick up its lending to its highest level since the aftermath of the 2008 financial crisis.
First-quarter economy looks bleaker by the day - CNBC--4.8.16
Many economists are now seeing first-quarter growth as negligible, and it could easily turn out to be negative. Economists shaved an already weak growth forecast by a few more tenths on Friday.
China jitters could trigger global market bloodbath, IMF warns- The Telegraph--4.4.16
Worries over the health of the Chinese economy could trigger a bloodbath on the financial markets the IMF has warned. The IMF also stated that policy choices in China would also have "increasing implications for global financial stability."
Chase ATMs to Limit Withdrawals for Noncustomers to $1,000 a Day - The Wall Street Journal--4.4.16
JP Morgan Chase has capped ATM withdrawals at $1,000 per card daily for noncustomers in an effort to crack down on people who started to pull tens of thousands of dollars out at a time.
Negative interest rates put the global economy on a razor’s edge - Market Watch--3.29.16
Negative interest rates are now the policy of the ECB, Switzerland, Sweden, and the Bank of Japan. More than $26 trillion of government bonds now trade at yields below 1%.
Fed feeling its way in a fog of uncertainty- Market Watch--3.16.16
The Fed's decision on Wednesday "reflects a central bank feeling its way through tremendous uncertainty." After two days of talks, the Fed has decided to hold rates steady for the second straight meeting.
Jim Rogers: There's A 100% Probability Of A U.S. Recession Within A Year - Zero Hedge--3.4.16
Billionaire investor Jim Rogers is certain the U.S. economy will be in recession within the next 12 months. Rogers warned of extremely high debt levels across the nation, causing him concern.
Over 80% Of Jobs Added In January Were Minimum Wage Earners - Zero Hedge-- 3.4.16
February's jobs report showed that February suffered the biggest ever monthly drop in average weekly earnings. Most of the jobs created in February were of the lowest paying, worst possible quality.
In 36 States, Unemployment Rates Still Linger Above Prerecession Levels - WSJ--2.26.16
Unemployment last year remained elevated compared to 2007 levels in more than two-thirds of the states. Unemployment rates in just 14 states have actually returned to or fallen below their 2007 averages in 2015.
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