"Italy's persistent track record of fiscal slippage, back-loading of consolidation, weak economic growth, and resulting failure to bring down the very high level of general government debt has left it more exposed to potential adverse shocks. This is compounded by an increase in political risk, and ongoing weakness in the banking sector which has required planned public intervention in three banks since December."
This quarter, Netflix shareholders may be less gullible than 3 months ago because that surge in international subscribers not only did not happen, but missed by a whopping 370K subs, missing both the street forecast of 3.9 million and the company's own guidance of 3.7 million. That, and the unprecedented cash burn continues.
It appears that if you want to be liked by the American public, go to war. After a non-stop plunge to record low ratings for a new president, Rasmussen's most recent data shows President Trump's favorability surging to 2-month highs since he started rattling sabres around the world.
The world’s biggest aluminum producer, China Hongqiao Group, is in trouble locked in a feud with its accountant over fraud allegations that have forced it to not only suspend trading of its shares and seek a bailout from Beijing, but to warn of “serious effects” if nothing is done, including “regional systemic financial risks” and “dramatic social unrest.”
The Fed’s monetary policies have purposefully encouraged businesses and consumers to borrow. But debt doesn’t just go away. It accumulates. By now, an increasing number of businesses and consumers are suffocating under this debt overhang in an economy that never developed the “escape velocity” needed – and hyped by Wall Street for years – to outgrow this debt. Rising bankruptcies are a turning point in the “credit cycle.”
"America you have drowned and there is no savior, and you have become prey for the soldiers of the caliphate in every part of the earth, you are bankrupt and the signs of your demise are evident to every eye... There is no more evidence than the fact that you are being run by an idiot who does not know what Syria or Iraq or Islam is."
Global stocks were pressured by a poor start to the second quarter in the US, where carmakers reported disappointing sales data, slamming auto stocks around the globe. The selling has persisted for a second day, with Asian stocks, S&P futures fall and European shares all partially in the red today after their biggest decline in two weeks.