By Michael Snyder Are we about to witness trillions of dollars of “paper wealth” vaporize into thin air? During the next financial crisis, a lot of “wealthy” investors are going to be in for a very rude awakening. The truth is that securities are only worth what someone else is willing to pay for them, … Continue reading
By Michael Snyder Get ready for another major worldwide credit crunch. Today, the entire global financial system resembles a colossal spiral of debt. Just about all economic activity involves the flow of credit in some way, and so the only way to have “economic growth” is to introduce even more debt into the system. When the … Continue reading
Emerging market (EM) corporate bonds have been dealing with a surging U.S. dollar, a collapse in global energy prices, and a likely hike in U.S. interest rates, which are underscoring growing liquidity risks, according to a new report from Fitch Ratings published on Thursday. The rapid appreciation of the U.S. dollar, potential hikes in U.S. interest rates later in 2015 and the … Continue reading