bankruptcy Tag

Posted On October 26, 2017By BlackbeardIn Articles

Venezuelans turn to Bitcoin to escape currency crisis

By now, most Americans are familiar with the economic basket case that is Venezuela. The country’s economy has collapsed, leaving the population desperate and starving. The human cost is highly visible and tragic, but what gets less attention is the way in which the government has destroyed the country’s currency, thereby making it impossible for citizens to buy basic necessities. It’s a common story in socialist countries. Unable to sustain massive levels of government spending, the state prints more and more money, trading short-term gains for massive inflation. It’s oneRead More
This is akin to a family of five selling their home, cars, and personal belongings, in order to finance Dad heading off to Vegas in order to play the fucking slot machines. What can go wrong, after all? Bitcoins only go higher. Source: CNBC Didi Taihuttu, his wife, three kids and their cat bet all they have on bitcoin. The Dutch family of five is in the process of selling pretty much everything they own — from their 2,500-square-foot house, to their shoes – and trading it in for theRead More

Posted On October 12, 2017By BlackbeardIn News

Here’s Why Malaysians Can’t Afford a House

Malaysia’s central bank has a response to those saying it needs to do more to spur home loans: houses simply aren’t affordable. Bank Negara Malaysia has created a website packed with data aimed at debunking the “myth” that access to financing was deterring home ownership, showing that loan approvals for key cities are near 70 percent or higher. The central bank has resisted calls to loosen mortgage lending, instead saying the property industry should boost efforts to cut costs and accelerate supply. Rising home prices have added to the grievancesRead More

Posted On August 16, 2017By HoudiniIn News

Is your wallet getting lighter and lighter?

A think tank sees larger loan-to-deposit ratios in banks as indicating that Malaysians are finding it harder to save money.  PETALING JAYA: The Institute for Democracy and Economic Affairs (Ideas) has voiced concern that the average Malaysian may be in a worse financial strain that previously thought. Referring to a recent Bloomberg report that the loan-to-deposit ratios in the nation’s banks are at an all-time high, Ideas external relations manager Azrul Khalib said this could indicate that disposable incomes were decreasing and Malaysians therefore had less to save. “It isRead More

Posted On July 6, 2017By HoudiniIn Articles

Nasi Goreng Bonds, Anyone?

Indonesia considers selling local-currency debt on global markets. The Chinese made a full meal of offshore dim sum debt, and Indians have started nibbling into masala securities. Now Indonesians are contemplating nasi goreng bonds. Will investors step up to the plate? Like the other two, this would also be local-currency corporate borrowing, but in global debt markets. Creditors, rather than debtors, will bear the risk of rupiah depreciation. Kartika Wirjoatmodjo, president director of PT Bank Mandiri, the country’s largest lender by assets, told me he’s exploring the option for PT JasaRead More

Posted On June 13, 2017By HoudiniIn Articles

The Incredible Cost of Going Broke

Puerto Rico’s road to financial freedom is cripplingly expensive. Already, as Bloomberg News reported Monday, the island has spent as much as $154 million to financial consultants and lawyers as it grapples with its unpayable $74 billion of debt. And that was incurred mostly before it filed for a bankruptcy-like restructuring in May. SURGING DEBT And that bill is going to rise substantially. It’s easy to see Puerto Rico incurring more than $400 million in additional fees as it works through a complicated web of debt. This is a shame from many perspectives; that money couldRead More
The wheels are falling off the US bank loan market. After we first showed in early March the steep drop in bank loan creation for both Commercial and Industrial, auto and total loans – all traditionally leading indicators to economic contraction and recession as business and consumers halt spending, even with borrowed money – numerous other analysts and pundits have attempted to explain, and justify why one should not be particularly concerned about this tumbling indicator. Most notable among them Goldman, who in late March “explained” that there was nothing ominous about the crash inRead More

Posted On April 26, 2017By HoudiniIn News

Retailers Are Going Bankrupt at a Record Pace

Department stores, electronics sellers, and clothing shops are most at risk. Retailers are filing for bankruptcy at a record rate as they try to cope with the rapid acceleration of online shopping. In a little over three months, 14 chains have announced they will seek court protection, according to an analysis by S&P Global Market Intelligence, almost surpassing all of 2016. Few retail segments have proven immune as discount shoe-sellers, outdoor goods shops, and consumer electronics retailers have all found themselves headed for reorganization. Meanwhile, America’s retailers are closing stores faster than ever as they try to eliminate aRead More
  As the vulture pundits in the mainstream media pick apart hollow political scandals, the essential bankruptcy of the federal government looms just ahead. The national debt is creeping toward 20 trillion dollars, and the United State’s largest problem is once again staring the world in the face. Just before the government was slated to shut down in 2015 (as it did in 2013), Congress was able to pass a delay on the debt ceiling decision until March 15th of this year — Wednesday of this week. Recurring uncertainty caused byRead More

Posted On March 16, 2017By HoudiniIn News

Too many malls can spell trouble for banks

Property expert warns that oversupply of retail space may mean mall owners will be unable to service their loans. KUALA LUMPUR: A veteran property expert has voiced concern over the oversupply of retail space in the country, saying he especially feared repercussions on the banks that have given loans to shopping mall developers. In an interview with FMT, Ernest Cheong said a number of malls, especially those not supported by large catchment populations, could find themselves in financial trouble. “Established malls which are supported by huge catchment populations like SunwayRead More