Delinquent FHA Mortgages Soar By Record 60% To All Time High, As Homeowner Budgets Implode
By Tyler Durden Last month we quoted from Wolf Richter to remind readers of something we discussed several months ago when we went over the…
Economic Collapse
A Mass Exodus Away From Big Cities On Both Coasts
By Michael Snyder In all of U.S. history, we have never seen anything like “the mass exodus of 2020”. Hundreds of thousands of people are…
Dramatic Photos: Desperate For Provisions, Thousands Of Cars Line Up At Texas Food Bank
By Tyler Durden Dramatic images released this week show thousands of cars stretching for miles, lining up for provisions at a Texas food bank as…
Venezuela Has Gone Cashless (And That’s Not All)
By J.G. Martinez Writing about the current situation in my country is becoming increasingly difficult. Just checking my personal chats with all the information I…
Government Solutions Are Worse Than The Problem
By Michael Maharrey Government sucks you in by promising to fix the problems that it created in the first place. And it almost always makes…
Food Bank Strains Emerge As Economy Falls Off Fiscal Cliff
By Tyler Durden The latest economic data suggest the US recovery stalled. One look at the Citi US econ surprise index, as of this week,…
Mortgage Mayhem Begins: Overall Delinquency Rates Soar As Housing Crisis Lurks
By Tyler Durden Readers may recall as early as April we outlined how mortgage lenders were preparing for the most significant wave of delinquencies in history…
“Financially Devastated” — 83% Of NYC Restaurants Unable To Pay July Rent
By Tyler Durden The state of the New York City restaurant industry is in dire straits. July proved to be another disastrous month for restaurants, bars,…
35% Of Small Business Owners Tapped Personal Savings To Pay Rent, Wages During Pandemic
By Tyler Durden As the federal government steps in to bail out overleveraged borrowers in the commercial real estate space, a growing body of evidence…
Most Americans Can’t Withstand 3 Months Without Income — Study
A new study from Oregon State University found that 77% of low- to moderate-income American households fall below the asset poverty threshold, meaning that if…
Has the Fed Let the Inflation Genie Out of the Bottle?
By Stefan Gleason The dramatic ascent of precious metals markets this summer reflects what could be just the start of a longer-term decline and fall…
New Survey Confirms Second Wave Of US Layoffs Is Well Under Way
By Tyler Durden Readers may recall in mid-April, the first signs of the second round of layoffs and furloughs appeared. Then by June, high-frequency data of the…
On Verge Of Six-Week Shuttering, Australian Small Businesses Beg: We Can’t Survive Another Lockdown
By Tyler Durden The reality on the ground in Australia is that many small businesses were struggling even before the coronavirus lockdowns began. Now, with the country…
Apple Demands UK Retail Landlords To Slash Rents By Half
By Tyler Durden Apple Inc. soared 10% Friday after a blowout earnings report, adding $171 billion to its market capitalization, making it the world’s most valuable company,…