Economics and Investing:

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The U.S. Is At The Center Of The Global Economic Meltdown – D.R.

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Items from Mr. Econocobas:

World faces wave of epic debt defaults, fears central bank veteran – Folks on the inside are starting to let it out. These are very interesting times; stay alert.

Items from Professor Preponomics:

US News

Stocks Drop as Oil Prices Tumble (Fox Business) Excerpt: “…the International Energy Agency on Tuesday said it expects excess supply to keep the oil market oversupplied through late this year, which the IEA said could make 2016 the third-consecutive year of supply exceeding demand by one million barrels per day.”

International News

World Faces Wave of Epic Debt Defaults Fears Central Bank Veteran (The Telegraph) Direct and hard hitting, this comes as a highly recommended reading. One point of difference in opinion… It’s my personal view that growth as it’s suggested here only slows or staves off a reconciliation of current conditions with economic reality. Although I don’t necessarily agree, I do understand the growth argument and view this as a “best bad idea” or “lesser of the evils” recommendation. My primary objection is not growth in and of itself but managed inflation masked as growth. Excerpt: “The global financial system has become dangerously unstable and faces an avalanche of bankruptcies that will test social and political stability, a leading monetary theorist has warned.”

People are Afraid These “Zombie Ships” are the First Sign of Global Economic Collapse (Business Insider) Excerpt: “The dry cargo market was used to growth approaching 10% for quite a few years on the trot,” said James Kidwell, chief executive of the London-listed broker Braemar Shipping. “All of a sudden you’ve hit a market that’s gone flat. That is a radical change.” A brief explanation of the Baltic Dry Index is linked here as helpful additional resource for readers.

IMF Survey: Weak Pick Up in Global Growth, Risks Pivoting to Emerging Markets (International Monetary Fund) Excerpt: ““All in all, there is a lot of uncertainty out there, and I think that contributes to the volatility…”

Fitch: Emerging Market Risks Abound in 2016; Private Debt Key Challenge (Reuters) Excerpt: “Fitch Ratings says emerging markets (EMs) are facing a wide range of risks across many sectors in 2016 and sovereign, corporate and bank ratings will continue to be under pressure.”

Bank of Canada to Cut Key Rate to Zero, May Move to Negative Interest Rates (The Globe and Mail) Excerpt: “In our view, risks are tilted toward further easing, which would imply negative rates,” the strategists said. “The experience of countries like Switzerland, Sweden, Denmark and the euro area has taught central banks that zero is not the lower bound.”

Saudi Arabia’s Foreign Minister Just Gave an Utterly Unconvincing Explanation for the Plunge in Oil Prices (Business Insider) Read on for the minister’s argument and the response that follows… Excerpt: “There’s a transparent problem with this entire line of argument, though. The oil price is partially set by production and price targets set within the OPEC oil cartel, of which Saudi Arabia is the most influential member.”

Personal Economics and Household Finance

Quick Start Guide for New Preppers (The Organic Prepper) Excerpt: “Take a deep breath. You can devote yourself to getting prepared without breaking the bank.”

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