McKinsey

S&P Sees A "Crisis Of Confidence Around The Globe" As Corporate Debt Hits $75 Trillion In 2020

"A worst-case scenario would be a series of major negative surprises sparking a crisis of confidence around the globe. These unforeseen events could quickly destabilize the market, pushing investors and lenders to exit riskier positions (a ’crexit’ scenario). If mishandled, this could result in credit growth collapsing as it did during the global financial crisis.”

Globalization's Few Winners And Many Losers

Globalization is presented as a win-win solution: the developed countries get cheaper goods and the developing world get the benefits of industrialization. But now a new study, Poorer Than Their Parents? Flat or Falling Incomes in Advanced Economies, finds that globalization has been a bad deal for 80% of the people in developed economies, as their income and wealth has stagnated or declined.

"The Resentment Will Explode" - In Dramatic Twist, McKinsey Slams Globalization

In a stunning study released today, one which refutes all its prior conclusions on the matter, McKinsey slams the establishment's status quo thinking and admits that the economic gains of changes in the global economy have not been widely shared lately, especially in the developed world. It finds that between 2005 and 2014, real incomes in the world's most advanced economies were flat or fell for 65 to 70% of households, or more than 540 million people.

Alan "Bubbles" Greenspan Returns To Gold

The former Fed chairman says he believes another debt crisis is inevitable. He believes it will lead to high levels of inflation. His solution? Gold: “Now if we went back on the gold standard and we adhered to the actual structure of the gold standard as it exists let’s say, prior to 1913, we’d be fine. Remember that the period 1870 to 1913 was one of the most aggressive periods economically that we’ve had in the U.S., and that was a golden period of the gold standard.

 

How George Soros Singlehandedly Created The European Refugee Crisis - And Why

In 2015, a Sky News reporter found “Migrant Handbooks” on the Greek island of Lesbos. It was later revealed that the handbooks, which are written in Arabic, had been given to refugees before crossing the Mediterranean by a group called “Welcome to the EU.” Welcome to the EU is funded by—you guessed it—George Soros' Open Society Foundations. Soros has not only backed groups that advocate the resettlement of third-world migrants into Europe, he in fact is the architect of the “Merkel Plan.”

When Narratives Go Bad

There’s a … tiredness … to the status quo Narratives, a Marie Antoinette-ish world weariness that sighs and pouts about those darn peasants all the way to the guillotine.

Eerie Calm Across Markets One Day Before The Main Event: Asia, Europe, US Unchanged

There is an eerie quiet across markets, one day before the year's main risk event: with the UK referendum vote starting in less than 24 hours and results due out shortly after, it is as if even the algos have stopped frontrunning other algos, in a market so thin and illiquid even the smallest order can result in a gap, either higher or lower. As a result, European, Asian stocks and S&P futures are little changed ahead of Thursday, with the Stoxx Europe 600 Index swinging between gains and losses more than five times so far today.

As Insurance Losses Mount So Do Refusals: "Sorry, We Don't Take Obamacare"

A McKinsey study shows Obamacare insurers lost money in 2014 and the losses doubled in 2015. Amazingly, the study concludes there’s nothing to worry about because “30 percent of insurers nationwide were profitable.” Meanwhile, outright refusals to accept Obamacare mount. “Sorry, We Don’t Take Obamacare” is now a frequent response.