The "soft", i.e., survey data, rollover accelerated this morning, when Markit reported that in March the Service PMI posted a second consecutive decline, dropping from 53.8 to 52.8, missing expectations of a 53.1 print. This was the lowest reading since September 2016.
Luxembourg-based JAB Holdings, the acquisitive owner of Caribou Coffee, Peet's Coffee & Tea and Krispy Kreme, confirmed swirling speculation this morning when it announced it would acquire U.S. bakery chain Panera Bread for $315/share - a 20% premium - in a deal valued at about $7.5 billion. If completed, the transaction would mark the largest M&A deal for a US restaurant company, and the second-largest in North America after the 2014 acquisition of Tim Horton's.
How much state debt is there per person, and, as Visual Capitalist's Jeff Desjardins asks, why is there such a wide discrepancy between states like Massachusetts ($11,000 per person) and Nebraska ($1,000 per person)?
THE SNOWBALL OF STATE DEBT
Today’s infographic from HowMuch.net, a cost information site, organizes states by debt per capita using a snowball-like effect.
Courtesy of: Visual Capitalist
Authored by Michael Snyder via The Economic Collapse blog,
In 2008, subprime mortgages almost single-handedly took down the entire financial system, and now a new subprime crisis is here.
While Jamie Dimon tried to maintain his traditionally optimistic outlook in his annual letter to shareholders, there was a distinct undertone of pessimism in the latest 45 page letter released earlier today, in which he writes that while the U.S. is "truly an exceptional country," probably stronger than ever before, he cautions that "something is wrong - and it's holding us back."
Here are the highlights from the gloomy passage reposted below in its entirety.