Remember the mass layoffs of 2008-2009? The US economy shed millions of jobs quickly and relentlessly, as companies died and the rest fought for survival. Then the Fed and the US government flooded the banks and the corporate sector with bailouts and handouts. The nightmare of 2008 soon became a golden era of 'recovery'. Well, 2016 is showing us that that era is over. And as stock prices cease to rise, and in fact fall within many industries, layoffs are beginning to make a return as companies jettison costs in attempt to reduce losses.
With some 1,000 of the 3,600 P2P sites operating in China deemed "problematic", it's not a matter of if we see another Ezubo, but rather a matter of when.
"The harm is obvious. It's going to damage financial reforms, cause social unrest and destabilize the regime to some extent."
"Based on current valuations, the prices of most stocks don’t appear to have factored in a recession scenario, ‘hence the downside should we see a recession could be rather severe',... the shares of most companies could still fall another 50% or more from current levels."
Bloodbathery.. it seems at full employment no one needs a new job... or wants to hire? LNKD is downover 20% in the after-hours following a drastic guidance cut. This crashes the stock to its lowest since July 2014...
Proxy war no more. Saudi Arabia and Iran are set to have troops fighting in the same country.
"After 21 rewarding years, Standard Pacific Capital has decided to return capital to investors across all of our strategies," the letter said. "It has recently become clear to both of us that sometimes there is a logical conclusion to even a good thing. We decided that now is that time for Standard Pacific."
With all of the focus on oil, not much attention has been paid to the impact the commodities downturn has had on other things people pull out of the ground in North America. Courtesy of the Washington Post, we get an in-depth look at the dramatic effect slumping demand and acute overcapacity in China has had on one corner of America’s Heartland: Minnesota's "iron ridge."
"It's a supply issue", "No, it's a demand issue" - when it comes to the cause for plunging oil prices, the two camps will surely never agree on just what is causing it. Luckily, Obama may provide just the tiebreaker.
"HY primary markets are all but shut except for very high quality issuers. And if this trend continues for a while (the probability of which in our opinion is very high), we could envision a world where enterprises, big and small, find it harder to acquire financing across all industries, leading to widespread defaults, even outside of commodities."
Mass immigration is continuing to claim victims in Sweden. Murder, assaults and rape have become everyday occurrences in this small country, with a population just short of ten million, which last year opened its doors to almost 163,000 immigrants. The atmosphere on Swedish social media is now almost revolutionary.
The volatility in crude oil trading has reached the highest levels since Lehman's systemic crisis in 2008. Intraday swings of 5-10% are now de rigeur with OPEC and geopolitical headlines jockeying for narrative amid collapsing fundamentals.. but there is another, much bigger driver of this sudden chaos. As Reuters reports, the sudden liquidation of a $600 million triple-levered fund bet on falling prices wreaked havoc through the entire crude complex.