McKinsey

Valeant Crashes To 17 Year Lows After Warning Of "More Surprises"

The last few weeks have been a wild ride for Valeant shareholders but this morning's comments that the firm "is confident in its forecasts but there may be more surprises" has spooked investors, compounding the fact that the firm missed expectations with sales plunging 11%, and cut its sales and profit forecast for the year. VRX shares are down almost 30% in the pre-market - the lowest since Dec 1999.

"The Outcome Is Undeniable" - Global Debt Investors Face Reality Of A World Devoid Of Options

A recent, reluctant re-viewing of the film, 'Silence of the Lambs', fed fresh food for thought. The image of captives rejecting their freedom brought to mind another flock of corralled and stunned lambs - bond market investors. They too have been given the opportunity to escape their fate. But so many choose instead to stay. Such is the reality of a world devoid of options, with time ticking ruthlessly by.

Is This The End Of The Road For Apple's Self-Driving Car?

Apple has all but thrown in the towel on its self-driving car endeavors. Its project Titan, which was supposed to release a fully autonomous vehicle in the early years of the next decade, has been scaled back substantially and will from now on focus on developing just the self-driving software used in autonomous cars.

IMF's Lagarde Slams Globalization, Warns Of A "Groundswell Of Discontent"

"... growing inequality in wealth, income, and opportunity in many countries has added to a groundswell of discontent, especially in the industrialized world—a growing sense among some citizens that they “lack control,” that the system is somehow against them. Financial institutions are being seen as unaccountable to society.... Corruption remains endemic."

Stock Market Bubble Will Pop, Social Mood Will Get Extremely Ugly

Buying equities will put additional pressure on corporate CEOs to cut expenses and to postpone investments, fostering even greater Main Street resentment toward the financial elite. Consumer confidence won’t rise as consumption and economic growth stagnate. Having so clearly sided with owners of capital, rather than the employees of capital, global central banks are likely to become an easy target for populist ire.

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.