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Keyword: creditbubble

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  • Turkey: The sick man of Europe, once again — Spengler

    07/16/2016 9:13:28 AM PDT · by Mrs. Don-o · 32 replies
    Google Hong Kong ^ | July 15, 2016 | David P. Goldman (Spengler)
    The outcome of tonight’s apparent coup attempt in Turkey remains unclear, but the motivation for regime change in Turkey has been building under the surface for years. Turkey faces a perfect storm of economic, political and foreign policy problems. First, Turkey’s much-heralded economic growth spurt of the 2000’s has come to a grinding stop. The Erdogan boom, which inspired predictions that Turkey might emerge as another China, resembled the Asian experience less than it did the Latin American credidt bubbles of the 1980s or the American subprime bubble of the 2000s. I wrote last April 25: Turkey’s economy appears to...
  • $23 Trillion Chinese Credit Bubble Starting to Collapse – Global Financial Crisis Next?

    01/21/2014 5:12:30 PM PST · by Tolerance Sucks Rocks · 30 replies
    Freedom Outpost ^ | January 21, 2014 | Michael Snyder
    Did you know that financial institutions all over the world are warning that we could see a “mega default” on a very prominent high-yield investment product in China on January 31st? We are being told that this could lead to a cascading collapse of the shadow banking system in China which could potentially result in “sky-high interest rates” and “a precipitous plunge in credit“. In other words, it could be a “Lehman Brothers moment” for Asia. And since the global financial system is more interconnected today than ever before, that would be very bad news for the United States as...
  • The Fed, Credit Bubbles, and Exit

    02/08/2013 2:19:45 PM PST · by ExxonPatrolUs · 1 replies
    Jeremy Stein’s speech today–“Overheating in Credit Markets: Origins, Measurement, and Policy Responses”–provides valuable insight on the issue of credit bubbles that could result as a consequence of current Federal Reserve policy. As such, it speaks to the upcoming debate over the Fed’s exit strategy. It’s a must read. Stein’s review of credit markets suggest “we are seeing a fairly significant pattern of reaching-for-yield behavior emerging in corporate credit.” Even so, that by itself is not a reason for policy to react–in Stein’s view, its when bad credit decisions are combined with excessive maturity transformation that troubles occur. One important contribution...
  • Jimmy Carter, Bill Clinton, Janet Reno to blame for mortgage mess

    10/24/2011 7:57:42 AM PDT · by SmileRight · 25 replies ^ | 10/21/2011 | John R. Smith
    Historians know that they can never claim wars start with a clash of armies. They know that the root causes of war start long before. In the same way that the seeds of war germinate well in advance of battle action, so too did the causes of this country’s mortgage meltdown, housing collapse, and credit crisis. Champions of Big-Brother-Government want you to blame everyone else except government intrusion for the economic plagues that currently assail us. But there’s no getting around the truth. In the 1990s and 2000s, activist leftist groups like ACORN, AFL-CIO, and NEA conspired with liberal politicians...
  • Andy Beal Conjectures Harsh Market Ahead

    08/16/2010 9:35:07 PM PDT · by SunkenCiv · 5 replies
    Forbes 'blogs ^ | March 1, 2010 | Nathan Vardi
    Lots of people claim to have seen the financial crisis coming, but few actually banked on it. Andy Beal did. He virtually shut down his Beal Bank between 2004 and 2007. When the financial crisis hit, he started buying... So what is Beal's current outlook? We are back in a credit bubble due to the Fed and easy money. Other than failed banks, Beal has again nearly stopped buying assets. ...economy is being supported by zero interest rates and deficit spending. None of this is sustainable, and when it goes away, things will get worse. The consumer can't come to...
  • The Next Credit Bubble Is Now. Are you ready for a replay?

    08/26/2009 5:45:49 PM PDT · by SeekAndFind · 5 replies · 1,097+ views
    The Big Money ^ | 8/27/2009 | Heidi N. Moore
    Mortgage-backed securities—and the bankers who loved them—wreaked havoc last year, helping to pitch us into the deepest downturn since the Great Depression. Are you ready for a replay? Gird your loins. The signs are growing that there's a new Wall Street gold rush under way—for those complex bundles of mortgage loans that fueled banks' profits between 2005 and 2007. This year, prices for mortgage-backed securities are rocketing as federal stimulus dollars flood the market. But the difference with this "boom" is the center of gravity has shifted: from giddy, cowboy bankers to the Federal Reserve. The Fed is so eager...
  • Obama to unveil proposals to help small businesses

    03/15/2009 5:13:18 AM PDT · by Need4Truth · 36 replies · 1,400+ views
    Yahoo-AP ^ | Sunday March 15, 2009 | Hope Yen
    Obama to announce new measures to boost lending for struggling small business owners WASHINGTON (AP) -- Amid misgivings over his spending blueprint, President Barack Obama has decided to provide billions of dollars in federal lending aid aimed at struggling small business owners.
  • The Great College Hoax

    01/15/2009 10:10:48 AM PST · by rabscuttle385 · 161 replies · 4,618+ views
    Forbes ^ | 2009-02-02
    Higher education can be a financial disaster. Especially with the return on degrees down and student loan sharks on the prowl. BY KATHY KRISTOF As steadily as ivy creeps up the walls of its well-groomed campuses, the education industrial complex has cultivated the image of college as a sure-fire path to a life of social and economic privilege. Joel Kellum says he's living proof that the claim is a lie. A 40-year-old Los Angeles resident, Kellum did everything he was supposed to do to get ahead in life. He worked hard as a high schooler, got into the University of...
  • AIG’s Dangerous Collapse & A Credit Derivatives Risk Primer

    09/18/2008 2:30:34 AM PDT · by palmer · 87 replies · 3,065+ views
    Financial Sense Online ^ | September 17, 2008 | Daniel R. Amerman
    Overview While it may look superficially similar to the recent implosions of such investment giants as Fannie Mae, Freddie Mac and Lehman, the takeover and bailout of AIG is quite different, and means that the market is entering the next and even more dangerous phase. What is driving the fall of AIG – and potential government losses that may far, far exceed the $85 billion bailout announced late on September 16th - is not mortgages or real estate (directly), but fears that AIG’s huge, global credit-default swap positions will unravel. The $62 trillion dollar credit derivatives market is 50 times...
  • Carlyle may help CCC investors: report

    03/14/2008 5:06:12 AM PDT · by palmer · 1 replies · 144+ views
    Reuters via Yahoo ^ | Friday March 14 | None
    PARIS (Reuters) - Private equity group Carlyle (CYL.UL) will look at ways to help investors who have lost money in Dutch-listed Carlyle Capital Corporation (CCC) (Amsterdam:CARC.AS - News), Carlyle co-founder David Rubenstein was quoted on Friday as saying. In an interview with France's Les Echos newspaper, Rubenstein said Carlyle had done all it could to help CCC, citing a $150 million credit line provided by its partners "no doubt at a loss" but wanted to try and make amends. "We are looking at all ways to help CCC investors who have lost their capital outlay. For the most part, these...
  • Americans giving up homes before other assets as credit bubble bursts

    03/08/2008 5:54:31 AM PST · by TigerLikesRooster · 94 replies · 2,522+ views
    IHT ^ | 03/06/08 | James Saft
    Americans giving up homes before other assets as credit bubble bursts By James Saft Published: March 6, 2008 LONDON: The way Americans go bust has changed fundamentally, and the implications for financial markets are both important and negative. In the more innocent days before the debt bubble popped, vulnerable borrowers tended to do everything they could to hang on to their houses. The result was that they would stop paying off their credit cards first, the car loans second and only last would they default on their mortgages. But for many Americans in the credit bust, especially an overburdened minority,...
  • Party like it's 1999?

    10/03/2007 6:49:29 PM PDT · by oblomov · 5 replies · 626+ views
    FT ^ | 3 Oct 2007 | John Authers
    On Monday morning, as fresh news of severe losses by the giant financial groups, UBS and Citigroup, revealed even more damage inflicted by this summer's credit squeeze, the reaction of stock markets was clear. They rallied. In Monday's trading, the Dow Jones Industrial Average, still the most widely watched index of the US stock market, managed to top the all-time peak itreached on July 19. This was broadly representative of the most important developed market indices. The US S&P 500 index and Germany's Dax index are within 1 and 2 per cent respectively of their mid-July highs. Neither the S&P...
  • [Outside Column] Europe's Credit Bubble More Dangerous Than China's

    06/09/2007 2:15:31 AM PDT · by TigerLikesRooster · 13 replies · 3,634+ views
    Chosun Ilbo ^ | 06/08/07 | Wolfgang Munchau
    /begin my translation [Outside Column] Europe's Credit Bubble More Dangerous Than China's If a private equity fund collapses, investors could lose part of their wealth, but if Europe's credit bubble implodes, it could completely wipe out many funds and banks in a blink Wolfgang Munchau, Columnist at Financial Times posted at 2007.06.08 14:29 / revised at 2007.06.09 04:39 Currently, there are two bubbles in the world. One is the bubble of China's stock market, and the other is Europe's credit bubble. Most people talk about the China's bubble, but in reality, the Europe's bubble is far more dangerous. The...
  • Exec warns of credit-bubble risks

    05/13/2007 10:11:36 PM PDT · by TigerLikesRooster · 5 replies · 894+ views
    Denver Post ^ | 05/10/07
    Exec warns of credit-bubble risks By Warren Giles and Mark Pittman Bloomberg News Article Last Updated: 05/10/2007 02:09:22 AM MDT Zurich - Bank of America Corp. chief executive Ken Lewis said a so-called credit bubble is about to break after six years of historically low interest rates and relaxed lending criteria. "We are close to a time when we'll look back and say we did some stupid things," Lewis said, speaking at a lunch at the Swiss-American Chamber of Commerce. "We need a little more sanity in a period in which everyone feels invincible and thinks this is different." Demand...
  • Foreclosure threat reaches the burbs

    12/04/2006 1:47:48 PM PST · by RobRoy · 87 replies · 1,813+ views
    TwinCities,com ^ | 12/3/06 | JENNIFER BJORHUS
    The problem isn't confined to urban areas — families in well-off communities are finding that a risky mortgage and some bad luck can put a home at risk. Pam and Nathan Weisel live in "The Preserve," a freshly painted subdivision carved from the farmland in Norwood Young America, Minn. For now. Three months late on their mortgage, with a foreclosure notice in hand, the Weisels and their six children don't know how much longer they can call The Preserve home. The couple was hard-pressed to pay their $1,841 monthly mortgage after Nathan lost his sales job and health problems kept...
  • Consumer Borrowing Spiked In April

    06/09/2006 7:03:28 AM PDT · by Hydroshock · 13 replies · 292+ views ^ | 6-7-06
    (CBS/AP) Americans increased their borrowing in April at the fastest pace in 10 months as credit card spending and auto loans both picked up. The Federal Reserve reported Wednesday that consumer borrowing rose at an annual rate of 5.9 percent in April, a significant increase from a 0.8 percent gain in March. It was unclear, however, how long the rebound in borrowing would last given a decline in consumer confidence during May that was attributed to worries about soaring prices for gasoline and other energy products. The 5.9 percent rate of increase for overall borrowing was the biggest gain since...
  • The Exorcism of the United States. (The money leaves home a servant; it comes back a master)

    05/08/2006 3:07:18 PM PDT · by fight_truth_decay · 15 replies · 718+ views
    DailyReckoning-E-mail ^ | Monday, May 08, 2006 | Bill Bonner
    How the Credit Bubble Boat will sink: by hitting the iceberg of inflation. Grab your life jackets... Yesterday, driving back from a horse show in Bath, we stopped for gas. Britain has gone metric in order to stay in harmony with her European trading partners, but she still lists distances in miles. Gasoline is measured out in liters, just as it is in France, but it is priced in pounds. The price for a liter of diesel fuel was 99.9 pounds. If we did the math right, this is equivalent to about $6.50 per gallon. By comparison, we read today...
  • Global Credit Ocean Dries Up

    03/01/2006 10:27:06 AM PST · by ex-Texan · 171 replies · 2,308+ views
    Business Telegraph ^ | 2/24/2006 | Staff Writers
    The cash machine that sustained a world boom is about to close, and it's going to get ugly, says Ambrose Evans-PritchardOne by one, the eurozone, the Swedes, the Swiss and now even the Japanese, are turning off the tap of ultra-cheap credit that has flushed the global system for the past year, keeping the ageing asset boom alive. The "carry trade" - as it is known - is a near limitless cash machine for banks and hedge funds. They can borrow at near zero interest rates in Japan, or 1pc in Switzerland, to re-lend anywhere in the world that...
  • Bush prolongs the Greenspan agony

    05/30/2004 3:54:02 AM PDT · by TigerLikesRooster · 3 replies · 132+ views
    CNBC ^ | 05/27/04 | Peter Eavis
    Bush prolongs the Greenspan agony By Peter Eavis 5/27/2004 People often look back and wonder what JFK would have done in Vietnam had he been around to direct the war he got the country into. It will be almost as interesting to see how Fed Chairman Alan Greenspan handles the credit bust that is the likely consequence of the easy-money policies he has implemented as head of the nation's central bank. There is a very high chance that the 78-year-old Greenspan will be around to deal with his own mess, after President Bush renominated him as Fed chairman May 19....