In its latest annual summary published at the end of June, the IIF found that total nominal global debt had risen to a new all time high of $217 trillion, or 327% of global GDP...
... largely as a result of an unprecedented increase in emerging market leverage.
During an appearance CNN’s “State of the Union” Sunday morning, US Ambassador to the United Nations Nikki Haley admitted something that most of the international community – perhaps including Kim Jong Un himself – has known for weeks: The United Nations Security Council has just about reached the limit of its ability to economically punish North Korea.
One week ago we wrote that in "The Race For Deir Ezzor: US And Syrian Forces Are About To Collide", explaining that "as ISIS continues to rapidly collapse in its last two strongholds (Raqqa and Deir Ezzor cities), the competition for recovery of territory seems in full gear between the US-SDF and Syria-Russia alliances." More importantly, "Deir Ezzor province happens to be Syria's most oil-rich territory, which means the future of some of Syria's largest oil fields remains up for grabs."
Authored by Wolf Richter via WolfStreet.com,
Breath-taking differences in a vast country.
The Census Bureau released another data trove this week for 2016, based on the American Community Survey. Among many other data points, the survey details median household incomes by geographic location, such as by metro area, county, or state. And they show just how enormous the income differences in the US are from city to city.
On Thursday, just as the S&P hit its latest all time high, the broad US equity index surpassed the 266% increase recorded during the 1949 to 1956 bull market from its March 2009 "generational lows", in the process becoming the 3rd strongest bull market - artificial and central bank-driven as it may be - in history.
It also prompted Citi to calculate the odds of an imminent market correction (one starting in the next 3 months) at 45%.