Junk Bond Yields Hit Record Low: Most Distorted Markets Ever by Wolf Richter • Dec 4, 2020 • 100 Comments Well, not markets. Fed-managed paper exchange.
Taxpayers Face $435 Billion in Student-Loan Losses, Already Baked in: Leaked Education-Department Study by Wolf Richter • Nov 22, 2020 • 211 Comments No one has ever put a number to it until now.
Who Bought the Monstrous $4.2 Trillion Added to the Incredibly Spiking US National Debt in 12 Months? Everyone but China by Wolf Richter • Nov 19, 2020 • 184 Comments An increasingly important question, because someone always has to buy this debt – and it’s not just the Fed. But the share of foreign holders is waning.
No Payment, No Problem: In Rosy World of Forbearance, Official Delinquencies Plunge, Credit Scores of Delinquent Borrowers Jump by Wolf Richter • Nov 18, 2020 • 141 Comments Credit-score algos got fooled by forbearance. Weirdest economy ever where no one knows what’s going on anymore.
State of the American Debt-Slaves, Q3 2020: The Stimulus & Forbearance Phenomenon by Wolf Richter • Nov 7, 2020 • 331 Comments Auto loans jump after historic price spikes. Credit cards still in stimulus wonderland. Student-loan borrowers count on debt forgiveness, mmmkay.
My Random Walk Down Junk-Bond Minefield: How I Lost 77% after Buying DNR’s Unsecured Bonds at Rock-Bottom 8 Cents on the Dollar by David in Texas • Oct 28, 2020 • 86 Comments Here’s how I got walked through Denbury’s bankruptcy proceedings.
Unlocked Shareholder Value, so to Speak: Job Cuts at Boeing to Reach 30,000. Commercial Airplane Revenue -56%. $5 Billion Go Up in Flames in Q3, $22 Billion since 737 Max Fiasco. by Wolf Richter • Oct 28, 2020 • 119 Comments $43 billion incinerated on Share Buybacks since 2012 to manipulate up the share price would come in handy now. Shares -60% since June 2019.
Airlines Raised $$$-Billions via Frequent Flier Programs. Delta alone Raised $9 billion via SkyMiles as Collateral. How? by Wolf Richter • Oct 15, 2020 • 81 Comments “You’re the Collateral.” Separating the assets (including you) from the liabilities (your miles), and pledging the assets.
Now Everything Depends on US Stimulus, from Billionaires to China’s Manufacturers, as US National Debt Blows Out by Wolf Richter • Oct 7, 2020 • 181 Comments But consumers again paid down their credit cards; let’s be honest, that’s abuse of stimulus.
Twisted Bailout Economy: Chapter 11 Bankruptcies Surged, But Commercial Chapter 13 Bankruptcies Plunged. 420,000 Small Businesses Closed Quietly, Highest Rate Ever by Wolf Richter • Oct 6, 2020 • 176 Comments Stimulus and bailouts had a huge impact, for those that got them, and for those that didn’t.
