Tough day for some...
A bloodbath in the oil patch as WTI entered a bear market, hit a $42 handle and tumbled to the lowest levels since Nov 2016...
The pain of oilmageddon is beginning to strike credit markets once again...
Earlier today, we showed once again - this time with Citi's assistance - why the global credit impulse may be the most important variable for the global economy: as Matt King stated simply, "the change in the flow of credit drives GDP growth" and just as importantly, "the credit impulse also often correlates with asset prices."
Now, as a follow up to our earlier piece laying out the basis behind the global credit impulse, we present Citi's thoughts on what happens next, now that the impulse has turned negative.
Authored by John Rubino via DollarCollapse.com,
Towards the end of the 1990s tech stock bubble, “new media” – i.e., the Internet — was ascendant and old media like magazines, newspapers and broadcast TV were yesterday’s news. This was reflected in relative stock valuations, which gave Internet pioneer AOL the ability to buy venerable media giant Time Warner for what looked (accurately in retrospect) like an insane amount of money.
Authored by Mike Shedlock via MishTalk.com,
GE has the largest pension shortfall in the S&P 500. It’s a $31 Billion Balance Sheet Hole That Keeps Growing.
At $31 billion, GE’s pension shortfall is the biggest among S&P 500 companies and 50 percent greater than any other corporation in the U.S. It’s a deficit that has swelled in recent years as Immelt spent more than $45 billion on share buybacks to win over Wall Street and pacify activists like Nelson Peltz.
One year ago, when Deutsche Bank was sliding on concerns about its bad loan book, Germany's Bremer Landesbank which at the time had €29 billion in assets, saw its bonds plunge overnight when concerns emerged about an imminent failure by the German lender.