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Nonperforming Spanish Loans Near All-Time High as Overall Credit Shrinks

globaleconomicanalysis.blogspot.com / by Michael Shedlock / October 19, 2014

Huky Guru posted a couple of interesting charts on his blog today about shrinking credit but rising percentage of nonperforming Spanish bank loans: NPLs of banks rebounded to 16.59%. Seven points higher than in the 1994 crisis.

Spanish Bank Shrinking Credit

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Debris from Subprime Auto Loans to Ricochet across Main Street

wolfstreet.com/ by Wolf Richter / October 13, 2014

Profit on subprime is just too juicy to resist.

We called them “note lots.” People with terrible credit could go buy an old beater there. Ideally, it worked like this: you walked in with $500 cash. The dealer showed you a “cream puff” he’d bought for $500. [...]

Banks accept derivatives rule change to end ‘too big to fail’ scenario

gata.org / By Huw Jones, Reuters / October 11, 2014

LONDON — The $700 trillion financial derivatives industry has agreed to a fundamental rule change from January to help regulators to wind down failed banks without destabilising markets.

The International Swaps and Derivatives Association (ISDA) and 18 major banks that dominate the market will now [...]

The Home ATM Is Back: HELOCs Surge To 2008 Levels

zerohedge.com / by Tyler Durden on 10/10/2014 20:26

While the memory of a financial market participant can be measured in nanoseconds, it appears that the average American has also become goldfish-like as RealtyTrac reports a total of 797,865 home equity lines of credit were originated nationwide, up 20.6% from a year ago and the highest [...]

Student And Car Debt Exponential; Credit Card Debt Declines

zerohedge.com / by Tyler Durden on 10/07/2014 15:19

The summer rebound is well and truly over, and the latest nail in the short-lived rebound came moments ago when the Fed reported that in August, consumer credit rose by only $13.5 billion: only because it was far below the $20 billion expected and a plunge [...]

Credit Bubble Begins to Exact its Pound of Flesh: GT Advanced Tech Soars, Crashes, and Burns

wolfstreet.com / by Wolf Richter / October 6, 2014

Easy come, easy go. A few months ago, GT Advanced Technologies was still riding Apple’s iPhone-hype coattails. The company makes sapphire displays. And Wall Street had been puffing up its stock by proffering the hope that these displays would end up in the iPhone 6, and [...]

Trannies Trounced, Credit Clobbered, Bonds Bid With Both Hands & Feet

zerohedge.com / by Tyler Durden on 10/01/2014 16:09

Well that escalated quickly. It appears “bad-news-is-bad-news” once again as ADP was the only saving grace and was just not bad enough to be good (or good enough to comfort escape-velocity-believers). For the 3rd day in a row, stocks saw an opening dump, European close pump, [...]

Reader Question on a Credit-Based Society: Can Interest Ever Be Repaid?

globaleconomicanalysis.blogspot.com / Mike “Mish” Shedlock / September 30, 2014

Reader Mike wonders how interest can ever be repaid in a credit-based economy.

Hi Mish,

I wonder if you would be able to comment on this from Bill Gross in For Wonks Only:

“A credit-based financial economy (as opposed to pure cash) depends on an [...]

China In A Nutshell

zerohedge.com / by Tyler Durden on 09/29/2014 22:52

We have explained the complications of China’s monetary policy efforts, trade-financing shenanigans,‘peculiarly stable’ headline macro data in the face of collapsing real data, and the ‘hangover’ effect ofChina’s seemingly-terrified-for-reality-to-peek-through credit injections… but sometimes, a brief 30 second clip is all that is needed to explain just how [...]

Despite Late-Day Buying Panic, Stocks Close Red

zerohedge.com / by Tyler Durden on 09/29/2014 16:06

Heavy volume and volatile price action early in stocks and high-yield credit markets subsided later in the day as despite several big stocks in the red, the indices jammed higher in the last hour desparate to get positive (on terrible volume) but failed. Treasury yields fell [...]

Peak Debt—-Why The Keynesian Money Printers Are Done

davidstockmanscontracorner.com / by David Stockman / September 26, 2014

Bloomberg has a story today on the faltering of Draghi’s latest scheme to levitate Europe’s somnolent socialist economies by means of a new round of monetary juice called TLTRO—–$1.3 trillion in essentially zero cost four-year funding to European banks on the condition that [...]

High-Yield Credit’s Worst Week In 15 Months Sends Stocks Sliding

zerohedge.com / by Tyler Durden on 09/26/2014 16:07

This week’s 35bps rise in high-yield credit spreads (or ~10%) is the worst since at least June of last year and anxiety spread through other asset-classes appropriately as cheap-buyback-funding and liquidity concerns weighed on all equities – most aggressively small caps. The Russell 2000 is down [...]

I Know — Let’s Screw Some More Poor People!

thedailysheeple.com / Karl Denninger, Market Ticker / September 16th, 2014

When are you folks in the black community going to do something about this ******* in the Oval Orifice that keeps using your orifices as playthings for his policies?

The Obama administration is moving to ease access to student loans for parents with damaged [...]

Outflows Signal High Yield Credit Concerns Remain; Deals Pulled, Potential Downgrades Surge

zerohedge.com / by Tyler Durden on 09/12/2014 15:25

The high-yield credit market remains stressed. An active week ended poorly as a heavy pipeline saw Vistaprint pull its deal citing “market conditions” as perhaps both a re-awakening of liquidity fears (Fed hawkishness concerns), price/spread moves, potential downgrades soar, and outflows signal the flashing red light [...]

What Will It Mean To You?

blog.milesfranklin.com / By Bill Holter / September 4th, 2014

Occasionally I receive comments from readers that are suggestive of topics to cover. Below is a comment I received a few days ago and I believe timely. I say “timely” because after all, sooner or later we will get to the situation described. [...]

Great Graphic: Periphery Runs C/A Surplus, but Problems Remain

marctomarket.com / by Marc Chandler / August 27, 2014

This Great Graphic was tweeted by Mark Yusko. He got from Credit Suisse Research, who drew on Thomson Reuters data. It shows the current account balance of the four main European peripheral countries on a 12-month rolling basis over the last several years.

Before the [...]

As Chinese Credit Plummets US Stocks Soar On Hopes Of More PBOC Easing; But Is Conventional Wisdom Again Wrong?

zerohedge.com / by Tyler Durden on 08/13/2014 22:19

For those who are perplexed why today stocks soared despite a renewed battery of horrendous economic results, the answer lies in China, where overnight the PBOC reported that July aggregate credit creation (aka Total Social Financing), at least the “as reported” variety, plunged by the most ever, [...]

They’re Back – Credit Default Swaps for the Next Generation

armstrongeconomics.com / Martin Armstrong / August 13, 2014

Just when you thought the bankers learned their lesson, sorry, They’re Back! Here we go again with bankers creating the next generation of credit-default-swaps. Bankers should just be bankers. Creating products destined to blow up when they are the market-makers is just nuts. Now JPMorgan Chase [...]

The Credit Bubble’s “Final Frontier” – Meet Goldman’s Fixed Income Global Structured Covered Obligation

libertyblitzkrieg.com / Michael Krieger / Aug 11, 2014

Fixed Income Global Structured Covered Obligation. Say that three times fast.

According to yesterday’s Wall Street Journal, the bailed out financial criminals at Goldman Sachs are set to launch the latest and greatest toxic derivative product directly into the portfolios of willing muppets [...]

The Panic Of August 2007: Seven Years After The Money Markets Fractured, The Fed Still Adheres To An Outmoded Monetarist Paradigm

davidstockmanscontracorner.com / by Jeffrey P. Snider / August 11, 2014

It is hard to believe that this past weekend marked the seventh anniversary of the paradigm shift in global financial function. Everything that has occurred in the years since can be traced to those days in August 2007 when money markets broke [...]