As is customary virtually every time the Chinese central bank commences some form of tightening, overnight the PBOC injected "hundreds of billions of yuan into the financial system after some smaller lenders failed to repay borrowings in the interbank market", according to people familiar with the matter.
For those of you holding out hope that the North American auto market is anything but a massive debt-fueled bubble on the verge of imminent collapse, you may want to avert your eyes now. For the rest of us who prefer to live in reality, as painful as it can be, today's FY2017 earnings warning from Ally Financial offers a stinging wakeup call to auto investors.
For all you 'poor' people (and you know who we're talking about...all you people with only around $1 million of liquid investable assets) out there who always wanted to invest their money with Goldman Sachs but didn't have the $50 million net worth required to become a private wealth client, today may just be your lucky day.
Harvard Is No Longer A University. Harvard Is A Book-Burning Crematorium.
http://www.globalresearch.ca/fake-scholarship-and-the-future-of-americas-university/5580252
The post Harvard Is No Longer A University. Harvard Is A Book-Burning Crematorium. appeared first on PaulCraigRoberts.org.
Over this past weekend we noted that the Fed's latest weekly commercial bank loan data revealed some rather shocking deterioration in year-over-year loan growth. As shown in the chart below, after growing 4.6% one week ago, total loans and leases grew only 4.2% in the week ended March 8: the lowest growth rate since May 2014.