Authored by Craig Wilson via The Daily Reckoning,
Nomi Prins joined The Foreign Correspondents’ Club of Japan in Tokyo to discuss the banking landscape and state of financial regulations in the Trump era. The central bank historian and financial expert also took a deep dive into the shifting relations between the United States and Japan and what easy money policy has meant for financial markets.
KKR has just published their 2017 mid-year economic outlook and it includes some rather dire predictions for the U.S. economy. Among other things, KKR predicts a U.S. recession by 2019 and a massive cycle of millennial deleveraging after a huge expansion of consumer credit in the form of student and auto loans.
Before getting into the details, here's a chart depicting how KKR sums up the macro picture. In short, pretty much every major economic growth and asset valuation metric in the U.S. is flashing red warning signs relative to historical norms.
Authored by Michael Snyder via The Economic Collapse blog,
Bitcoin and other cryptos have fallen sharply over the past month in a shakeout that saw some of the early longs decide to take their winnings and walk away. But a 20% drop from the all-time highs hasn’t done much to temper wealthy investors interest in bitcoin and other cryptocurrencies as alternative investments potentially worthy of diversification.
On Thursday morning the CBO released a surprisingly upbeat assessment of Donald Trump's proposed budget, calculating that it would cut the cumulative US deficit by 30% over the next decade, preventing the US debt from spiraling out of control (even further).