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Britain is plunging towards an economic nightmare, and it isn’t just because of Brexit.

On Monday morning, Markit released its latest set of data on the state of the UK’s construction sector, and to say things didn’t look good would be an understatement. The sector slipped into contraction for the first time since April 2013, hitting just 46.o, a shock fall from an already poor base last month, and the biggest single month fall since …

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‘There is No Doubt’: Exxon Knew CO2 Pollution Was A Global Threat By Late 1970s

Throughout Exxon’s global operations, the company knew that CO2 was a harmful pollutant in the atmosphere years earlier than previously reported. DeSmog has uncovered Exxon corporate documents from the late 1970s stating unequivocally “there is no doubt” that CO2 from the burning of fossil fuels was a growing “problem” well understood within the company. “It is assumed that the major …

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Bill Holter – Financial Meltdown? The Central Role of Credit, the “Global Margin Call”, Impasse in Monetary Policy

Those who have been reading my work for any length of time know I have been adamant we would someday face a “global margin call”. I believe this call was issued last week! No matter how you look at the world, whether financially, geopolitically, macro, micro or whatever …what underlies everything in our world today is “credit”. Credit is used …

Junk bonds

Rot Of Empire: Moody’s Downgrades Chicago To Junk Bond Status – Dave Kanzler

I thought junk bonds were ‘high risk – high return’ whereas I’d have thought Chicago was more ‘high risk – no return.   Not so much junk bonds, just junk. Reader comment from  “Mike” It’s doubtful that Warren Buffet’s Moody’s Investor Services will face the same wrath from Obama that Obama inflicted on S&P after S&P downgraded the U.S. Government debt rating …

Monsanto-Logo2

Still Losing: Creditors Change Monsanto’s Investor Rating to “Negative” – Christine Sarich

Approximately $8 billion in debt securities are affecting a popular investor’s service decision about one of biotech’s biggest. Investing credit rating company Moody’s has affirmed that Monsanto’s new rating is being downgraded from ‘neutral’ to ‘negative’ following Syngenta’s announcement that it has refused Monsanto’s unsolicited bid of CHF449 per Syngenta share in a combination of cash and stock. Monsanto’s offer would have …

BRICS

Europe and the BRICS countries forge an independent rating system

Despite attempts to portray the work of the “big three” as globally oriented, the rating agencies maintain a close link to the US financial institutions. The 2008 economic crisis sent their reputations reeling. Now the global market for making ratings needs to be de-monopolized and equipped with new, transparent tools for working with risk. Currently, Fitch, Standard & Poor’s, and …

Earth

Europe and the BRICS countries forge an independent rating system

by Ian Blohm, Oriental Review Despite attempts to portray the work of the “big three” as globally oriented, the rating agencies maintain a close link to the US financial institutions. The 2008 economic crisis sent their reputations reeling. Now the global market for making ratings needs to be de-monopolized and equipped with new, transparent tools for working with risk. Currently, …