What an Investment Fund, Forced to Take a Big Loss, Said about the Housing Bust in Prime Central London by Wolf Richter • Jan 23, 2019 • 46 Comments “Probably now enduring its most protracted period of price suppression since records began.”
Record Defaults by Chinese Companies: Fake “Cash” & Fake Accounting by Wolf Richter • Jan 23, 2019 • 54 Comments Painful moment of truth for banks & investors. “Uncertainty over the accuracy of the companies’ books and disclosure of pertinent information”: Fitch
Prepping for Bankruptcy, PG&E Secures $5.5 Billion in “Debtor-in-Possession” Financing. What is “DIP” Financing? by Wolf Richter • Jan 22, 2019 • 77 Comments Here’s how a soon-to-be bankrupt company that’ll default on all its debts can still borrow $5.5 billion.
US Home Sales Get Uglier by Wolf Richter • Jan 22, 2019 • 67 Comments But these are still the good times.
As Investors Flee Australia’s Housing Bust, Sales of New Houses Plunge to Record Low by Wolf Richter • Jan 21, 2019 • 46 Comments But first-time buyers cling to hope.
Huge Backlog Could Trigger New Wave Of Shale Oil by Nick Cunningham • Jan 21, 2019 • 22 Comments Just what the crude oil market needs.
Canada’s Majestic Housing Bubble Deflates, Media Hype U-Turns by Steve Saretsky • Jan 21, 2019 • 22 Comments Average home price fell for first time since 2008, largest decline in the data going back to 2001.
THE WOLF STREET REPORT by Wolf Richter • Jan 20, 2019 • 46 Comments And This Isn’t Even a Global Recession Yet.
Brexit’s Ironic Twists Hit Spain’s Biggest Industry by Don Quijones • Jan 20, 2019 • 60 Comments “Peak Tourism” has already set in. Brits account for 22% of tourists in Spain. Now add Brexit.
Bottom Suddenly Falls Out of Demand in China in Many Sectors by Wolf Richter • Jan 19, 2019 • 93 Comments “What we witnessed in November and December was just extraordinary.”