Foreclosures

Foreclosures

The Fed Issues A Warning As Household Debt Hits New All Time High

“While relatively low, credit card delinquency flows climbed notably over the past year. This is occurring within the context of loosening lending standards... The current state can be an early indicator of future trends and we will closely monitor the degree to which this uptick is predictive of further consumer distress.”

The Secret History Of The Banking Crisis

"Accounts of the financial crisis leave out the story of the secretive deals between banks that kept the show on the road. How long can the system be propped up for?"

Chicago Cab Industry Collapsing As Medallion Foreclosures Soar

"It feels like the city is just watching us collapse.  Right now, there are a few people, the elderly and some others who refuse to take Uber because they are uncomfortable with it, that keep us going. But how many of those people are out there to sustain us?"

US Household Debt Surpasses 2008 High, Hits Record $12.7 Trillion

“Almost nine years later, household debt has finally exceeded its 2008 peak. This record debt level is neither a reason to celebrate nor a cause for alarm. But it does provide an opportune moment to consider debt performance,” said Donghoon Lee, Research Officer at the New York Fed.

Euro Surges As Trump Fears Slam Dollar; Futures Poised For New Records

In a replica of Monday's early trading, European shares are down, this time led by health-care stocks even as the Euro surges above 1.1050, the highest level since the US election. Asian equities rose, while S&P futures were unchanged although we expect the ramp to kick in any second, and take the NASDAQ to another all time high. Meanwhile, the US dollar weakened for a fifth day.

Where Do You Go In A 'Hurricane'?

We’ve passed the point of whether there’ll be a hurricane; we just can’t be sure how severe it’ll be. The winds are already picking up and those who choose to make a move will need to do so soon.

Peter Schiff: Damn The Deficits, Huge Tax Cuts Ahead!

For once, at least, this does not appear to be Trumpian braggadocio. It really may be the mother of all tax cuts. But if passed, what may this bunker buster do to the economy? While I have rarely met a tax cut I didn’t like, this one just may be more likely to send the economy into a downward spiral than it is to send up to orbit.

Frontrunning: April 21

  • Attack overshadows last campaign day in France (Reuters)
  • Paris Gunman Was Questioned by Police in February (WSJ)
  • French PM knocks Le Pen, Fillon stance on security after Paris shooting (Reuters)
  • Battle zone scenes at Paris Champs Elysees (Reuters)
  • In ‘Buy American’ Push, Trump Is Starting in a Hole (WSJ)