Business

Equifax’s disclosure that hackers had absconded with the personal data of 143 million Americans after exploiting a vulnerability in the company’s cyber defenses that was largely the result of negligence has sent its shares spiraling 37% lower. And now, Bloomberg is warning that the shares of certain troubled lenders – which have already largely underperformed this year – may also be vulnerable as the fallout from the hack works its way through the US economy.

Authored by Adam Taggart via PeakProsperity.com,

Last week we presented a parade of indicators published by Grant Williams and Lance Roberts that warned of an approaching market correction as well as a coming economic recession.

The key message was: When smart analysts independently find the same patterns in the data, it's time to take notice.

Well, many of you did, by participating in this week's Dangerous Markets webinar, which featured Grant and Lance.

Authored by John Rubino via DollarCollapse.com,

For what seems like decades, other countries have been tiptoeing away from their dependence on the US dollar.

China, Russia, and India have cut deals in which they agree to accept each others’ currencies for bi-lateral trade while Europe, obviously, designed the euro to be a reserve asset and international medium of exchange.

These were challenges to the dollar’s dominance, but they weren’t mortal threats.

Submitted by ffwiley.com

Authored by Jim Rickards via DailyReckoning.com,

Right now, the United States is officially $20 trillion in debt. Over half of that $20 trillion was added over the past decade.

And it looks like annual deficits will be at the trillion dollar level sooner than later when projected spending is factored in.

Basically, the United States is going broke.

I don’t say that to be hyperbolic. I’m not looking to scare people or attract attention to myself. It’s just an honest assessment, based on the numbers.