Ten or the largest banks have $147 billion in revolving credit lines to the oil industry that are likely to expand their exposure to the energy industry just when they'd rather reduce it.
Predictions of a global recession are now coming more and more from mainstream economists and analysts.
With the Trans-Pacific Partnership (TPP) signed today in New Zealand by officials from the 12 governments and dictatorships ensnared in the sovereignty-smashing “free trade” regime, opposition to the plot — dubbed “Obamatrade” by critics — is surging across the political spectrum. In the presidential primaries, virtually nobody, not even known establishment candidates, dares to express support for the scheme. In Congress, members of both parties are up in arms, calling on their colleagues to crush the TPP before it crushes America. And among the grassroots, Americans of all political persuasions are outraged, ranging from labor unions and environmental groups to conservative, libertarian, and constitutionalist forces.
Following a signing ceremony this week in New Zealand, the Obama administration is calling on the GOP-controlled Congress to hurry up and approve the massive “free-trade” regime known as the Trans-Pacific Partnership. Despite fierce opposition and the ongoing presidential primaries, Obama's Trade Representative, Michael Froman, said he was confident that Republican lawmakers would comply with the White House's demand in the months ahead, warning of “economic consequences” if Congress did not make haste. At this point, though, approval appears to be far from certain. Dubbed “Obamatrade” by critics, the deeply controversial treaty has opponents up in arms all across the political spectrum, despite support from the establishment wing of both parties.
The Fourth Industrial Revolution — centered in China where indusrtrial robots are replacing humans — has many side benefits in addition to lower costs and higher standards of living.
According to Dow Jones, the first week of 2016 was the worst five-day start for the Dow on record. Over the course of the week, the Dow lost 1,079 points, over six percent of its value. Investors saw markets plunge last week as fears about Chinese markets dealt a heavy blow to markets worldwide.
OPEC's implosion continues apace, with even more recent bad market decisions, proving that cartels never last.