First China Default Seen as Record $427 Billion Debt Due (Dec 2013)

shanghai

Source: Bloomberg – First China Default Seen as Record $427 Billion Debt Due

Notable excerpts:

Chinese company debt twice the size of Ireland’s economy will come due in 2014, spurring concern the nation is on the cusp of its first corporate bond default.

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Bond Losses of $1 Trillion if Yields Spike, BIS Says (Jun 2013)

economic_collapse

Source: CNBC – Bond Losses of $1 Trillion if Yields Spike, BIS Says

Notable excerpts:

Bondholders in the United States alone would lose more than $1 trillion if yields leap, showing how urgent it is for governments to put their finances in order, the Bank for International Settlements said on Sunday.

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Deflated: Prices in Greece at a 50-year low (Nov 2013)

falling-prices

Source: RT – Deflated: Prices in Greece at a 50-year low

Notable excerpts:

Prices of goods in Greece, from milk and bread to medicine have fallen by 2.0 percent in October, and are now at their lowest since 1962. Only the price of alcohol and tobacco increased in the last year.

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Economic records set for the wrong reasons

inflation

Source: BullionStar – Economic records set for the wrong reasons

We are living in unprecedented times. The number of new records set for the wrong reasons in the global economy are increasing more and more each day. In this article we review some of them to illustrate just how wrong things have become and the dangers the current environment pose to the man on the street.

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US bank customers to pay for deposits if ‘easy money’ fades away (Nov 2013)

jpmorgan

Source: RT – US bank customers to pay for deposits if ‘easy money’ fades away

Notable excerpts:

Americans may have to start paying to keep money in the bank. Retail banks have warned they might need to start charging customers and companies for deposits if the US Federal Reserve cuts interest it pays on bank reserves.

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