Authored by Michael Snyder via The Economic Collapse blog,
When will America finally wake up?
The borrower is the servant of the lender, and we now have a colossal 20 trillion dollar chain around our collective ankles.
Seadrill Ltd., the London-based offshore driller controlled by billionaire Norwegian shipping magnate John Fredriksen, filed bankruptcy protection in the Southern District of Texas after working out a deal with most of its senior lenders to inject $1 billion of new money into the company pursuant to a pre-arranged plan of reorganization. The filing was largely expected and came just a couple of days before the company's $843 million 5.625% Notes of 2017 came due.
One day after the most anticipated Apple product launch in 10 years, several problems have emerged for the much hyped iPhone X, face-recognition demo flop notwithstanding: it will be substantially delayed confirming all earlier reports of supply-chain bottlenecks, and it will be expensive, perhaps prohibitively so. The introductory prices of the iPhone 8 and the iPhone 8 Plus have gone up compared to the prices of the iPhone 7 and the iPhone 7 Plus. The iPhone X, meanwhile, will price in the 4 digits well equipped.
Authored by 720Global's Michael Lebowitz via RealInvestmentAdvice.com,
Recently on our Twitter feed, @michaellebowitz, we introduced the hashtag #fedgibberish.
In a curious case of 2015 deja vu, DoubleLine founder Jeffrey Gundlach says German bond yields are "crazily low," and expects them to rocket higher and rattle the US Treasury market when (if) the ECB scales back its bond purchases.
The FT reports that Gundlach warns the 10-year German Bund yield would jump to 1 per cent “pretty quickly”, from about 0.4 per cent today.
So far he has been right, just as in 2015 when Gundlach and Gross warned that Bunds were "the short of a lifetime."