While Donald Trump has repeatedly expressed his displeasure with China for manipulating its currency, he appears to have recently figured out that over the past 2 years Beijing has been spending hundreds of billions in dollar to strengthen, not weaken, the Yuan and to halt the ~$1 trillion in capital flight from China.
Nothing in this world is certain, except death and taxes... and $62,000 debt.
According to December 2016 data provided to Credit.com by credit bureau Experian, 73% of consumers had outstanding debt when they were reported as dead.
Those consumers carried an average total balance of $61,554, including mortgage debt. Without home loans, the average balance was $12,875. Among the 73% of consumers who had debt when they died, about 68% had credit card balances.
Authored by Mike Krieger via Liberty Blitzkrieg blog,
I rarely write about gold these days, but the following from Reuters caught my attention.
BEIJING/SHANGHAI, March 7, China’s virtual gifting market, typically the domain of plugged-in young consumers celebrating special occasions or flirting, is luring major financial institutions keen to boost trade of another auspicious commodity: gold.
Earlier this morning we noted Ford's "CFO Let's Chat" meeting with analysts before which Ford announced weak 1Q adj. EPS guidance of 30c-35c, coming in well below analyst estimates of 47c, which they blamed on higher costs, lower volume & unfavorable exchange rates.
With the call now concluded, here are a couple of the key takeaways:
First, the bad...
Authored by Carey Wedler via TheAntiMedia.org,
Consumerism has long been a defining element of American society, but retail giants are now shutting down thousands of their locations amid a long-anticipated “retail apocalypse."
BI reports that over the next couple months, more than 3,500 stores are expected to close: