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2/3rds OF AMERICAN CFOs ARE PREDICTING A RECESSION BY THE SUMMER OF 2020
While 2/3 of American CFOs see the storm clouds gathering of another recession within the next 18 months, almost 87% say the recession will strike by the first quarter of 2021. Even though the timing is off, one thing is clear: American CFOs are warning the public to prepare for another recession. According to the latest Duke CFO Global Business Outlook Survey, released Wednesday, 67% of those surveyed predicted the U.S. economy would be in recession by the third quarter of 2
Gold & Silver Will Survive Whole System Burning Down
Financial writer and precious metals expert Bill Holter is “not worried at all” about the current price smash down for precious metals. Holter says, “We live in a world where all liabilities are more than all liabilities in history. "This whole system is going to come down. . . If you see a house burn down, the only thing left is the foundation. That’s the only thing left because the foundation doesn’t burn. That’s what gold and silver are, and that’s what’s going to be left
Housing Starts Collapse Continues - Worst Annual Drop Since 2011
Well this should steal the jam out of the green-shoot-brigade's donut. Housing Starts and Permits unexpectedly tumbled in March. Housing Starts fell 0.3% MoM (against expectations of a 5.4% rebound) and to make matters worse, February's 8.7% plunge was revised down to a shocking 12% collapse... This is the weakest level of Housing Starts since May 2017... And biggest Y/Y drop since 2011, suggesting builders remain wary even as lower mortgage rates and steady wage gains offer
India's Election Enforcers Seizing Billions In Bullion & Booze Per Day In Voter Handouts
As polling gets under way in India - the largest exercise of democratic choice in the world - voters (where a quarter of the population earn less than $2 a day on average) are being lured by politicians offering illegal handouts. Bloomberg reports that India’s enforcement agencies have so far seized cash, liquor, drugs, gold and other contraband worth 25 billion rupees ($361 million), already double the value of goods seized in the entire 2014 elections. “It is becoming a men
It Begins: Former UN Under-Secretary-General Calls For One World Currency
Authored by José Antonio Ocampo, formerly United Nations Under-Secretary-General for Economic and Social Affairs, via Project Syndicate, This year, the world commemorates the anniversaries of two key events in the development of the global monetary system. The first is the creation of the International Monetary Fund at the Bretton Woods conference 75 years ago. The second is the advent, 50 years ago, of the Special Drawing Right (SDR), the IMF’s global reserve asset. When it
Retail apocalypse? JCPenney, Payless, LifeWay announce 3,000+ combined store closures
“In the post-digital era, only the strong will survive. Darwin would love this,” said one retail analyst. More than 41,000 people have lost their jobs in the retail industry so far this year — a 92 percent spike in layoffs since the same time last year, according to a new report. And the layoffs continue to mount, with JCPenney announcing this week it would be closing 18 stores in addition to three previously announced closures, as part of a “standard annual review.” Retail j
