Business

Muddy Waters Research founder Carson Block believes that China’s overleveraged economy will eventually face a “day of reckoning.” He just can’t say when.

Authored by Chris Martenson via PeakProsperity.com,

Perhaps I should start with a disclaimer of sorts. Yes, I realize that the people working at the Federal Reserve, as well as the other central banks around the world, are just people.  Like the rest of us, they have egos, fears, worries, hopes, and dreams. I'm sure pretty much all of them go home each night believing they are basically good and caring individuals, doing important work.

One week ago, when looking at the latest Fitch forecast of retailers most likely to file for bankruptcy next, we listed the hundreds of store closures already announced in 2017 between various bankrupt and still solvent retail chains.

Authored by Zainab Calcuttawala via OilPrice.com,

Riyadh plans to purposely reduce exports to the United States to force a reduction in the latter’s sizeable inventories, which are preventing a greater rise in global oil prices, according to Saudi Oil Minister Khalid Al-Falih.

Just one day after OPEC announced a nine-month extension to its November production cut deal, the top oil official told reporters on Friday that “exports to the U.S. will drop measurably.”

After a week of dismal housing data, a silver lining perhaps. The spike in U.S. mortgage rates since the November presidential election has been cut in half.

As Bloomberg notes, the average rate on a 30-year fixed mortgage dropped in the week ended Thursday to a six-month low of 3.95 percent, according to Freddie Mac data.

In the seven weeks after the election, borrowing costs increased by 75 basis points to 4.32 percent at the end of December, the highest since April 2014.