It will get much worse.
What ratings agency Fitch and the Bank of Canada had warned about has come to pass.
Southeast worst since Financial Crisis. Atlanta Fed frets: oil bust, dollar?
Last time this happened, the stock market crashed. “Going to be a painful period of time,” said Texas Gov. Rick Perry.
But the oil-price crash was supposed to goose consumer spending.
No respite for the American oil patch and its investors.
Yields spike, damage spreads. Investors try to bail out while they still can.
Among those who’ll get to eat the losses: unsuspecting retail investors.
A desperate feeding frenzy takes its course.
Fed’s wealth effect kicks in: “Mind-blowing” how the luxury market has been “completely on fire.” The rest, well….
‘Punishment Interest,’ as Germans call it with Teutonic precision, becomes a pandemic.
Job cut announcements in tech doubled from a year ago. Worst year since 2009.
“Punishment Interest” it’s lovingly called in Germany, as the ECB intends to flog savers until their mood improves.
Instead of a global recovery, a sudden, broad consumer slowdown – with a plunge in China.
Theories abound why this is suddenly happening, after years of deceptive calm.