We Blew a $4.2 Trillion Debt Bubble – Then 10 Million of Us Lost Our Jobs

The latest Federal Reserve consumer credit report released on Tuesday. It shows record levels of outstanding credit in February: $4.2 trillion. With unemployment rocketing, another financial crisis is around the corner. Total outstanding U.S. consumer credit stood at nearly $4.2 trillion in February. According to the latest consumer credit report from the Federal Reserve, seasonally …

Is Legendary ‘Big Short’ Trader Right Again?

‘Big Short’ investor Michael Burry accurately predicted the 2020 bubble and collapse. He’s now demanding an end to coronavirus lockdowns. Burry says the restrictions are killing the economy and damaging society. Michael Burry, the legendary trader immortalized by Christian Bale in the movie The Big Short, shot to fame when he accurately predicted the 2008 …

U.S. Consumer Confidence Is Plunging – But More Pain Is Coming

The Conference Board’s gauge of U.S. consumer confidence plunged from 132.6 to 120 in March, while economists expected a 110 number. Confidence is likely to decline further in the coming months. It will probably take a long time before consumers start spending like before the crisis. The Conference Board said Tuesday its consumer confidence index …

Dow Rallies 600 Points After Italy Turns a Corner in War with COVID-19

The Dow Jones kicked off the week with an aggressive rally. Stock market bulls cheered the flattening of the coronavirus infection rate curve in Italy. Unfortunately, U.S. cases of COVID-19 surpassed 150,000 overnight. The Dow Jones Industrial Average (DJIA) clawed out an aggressive rally on Monday after Italy turned a corner in its battle with …

Fear a Coronavirus Recession? The Debt Bubble Crash Will Really Make You Panic

S&P Global says coronavirus has officially plunged the world economy into a global recession. As a result, record debt bubbles at every level of the economy threaten another financial crisis. All these debt bubbles represent far greater liabilities than those weighing down the economy before 2008. Credit rating agency S&P Global said this week that …

Dow Futures Plunge as COVID-19 & ‘Risky Corporate Debt’ Threaten to Topple U.S. Economy

Dow Jones futures were off by as much as 469 points in after-hours trading, threatening to undo all of Thursday’s gains. Stock trading remains highly volatile as investors weigh the ever-growing impact of coronavirus on public health and the economy. Coronavirus could be the pin that pops corporate America’s debt bubble. Futures on the Dow …