1 month ago
The banks say 1.34%. The government's own small-business book says 4.8%. Both are right.
Prime borrowers are defaulting on their panels five times faster than on their cars.
It isn't the government and it isn't a bank anymore — plus Taiwan, student loans, value vs growth.
The law used to require enough money for a one-in-a-hundred-year hurricane. In June it became one in fifty. Rates were frozen in exchange. The hurricanes weren't consulted.
That's the American farm sector this year — alongside record debt, a record interest bill, and a lender whose bad loans have tripled.
So the richest school on earth borrowed $2.5 billion instead. Its private equity portfolio fell 31.6% over the following year.
One dollar in every ten American banks lend now goes to another lender. Fifteen years ago it was less than one in a hundred.
$2.4 trillion of life insurance reserves have been signed over to reinsurers. Bermuda took 84% of the share that left the country, and the rules there are not the rules here.
For five years a stock traded far above the coins inside it, and used the gap to buy more. In June the premium became a discount — and the machine started running backward.
