On Friday, we noted that at least some local businesses in Texas are sympathetic to the pitiable plight of the state’s beleaguered oil patch workers.
Houston-based Gramercy Cleaners on Richmond avenue, we observed, is demonstrating their compassion for the imploding energy sector by offering service discounts.
Early last month, just as Puerto Rico Governor Alejandro García Padilla traveled to Capitol Hill in an ill-fated effort to convince lawmakers that the island’s various bankrupt public entities should be allowed to utilize US bankruptcy laws, PREPA (the commonwealth’s heavily indebted power utility) was busy cementing the largest restructuring in muni market history.
Deflation Threatens to Swallow the World
Many high-powered people and institutions say that deflation is threatening much of the world’s economy …
China may export deflation to the rest of the world.
Japan is mired in deflation.
Economists are afraid that deflation will hit Hong Kong.
The Telegraph reported last week:
RBS has advised clients to brace for a “cataclysmic year” and a global deflationary crisis, warning that major stock markets could fall by a fifth and oil may plummet to $16 a barrel.
In a world in which every nation is now part of the race to debase their currency, or as the Brazilian finance minister first dubbed it in 2010, a "global currency war", the first and foremost imperative on every central bank's agenda is to devalue its currency faster than its net exporting peers.
McDonalds Corporation, the world’s leading dealer of GMOs and Frankenfoods, is teetering on the brink of financial collapse thanks to a global awakening regarding the dangers of toxic, commercially processed “food.” “People around the world are waking up to the fact they have been conned by McDonalds,” said John Grits, a restaurant industry consultant with Food Consultants Group.