Big money is gushing in all directions.
In one chart.
‘Punishment Interest,’ as Germans call it with Teutonic precision, becomes pandemic.
Turns out, destroying the purchasing power and wealth of the people also drags down the real economy.
An utterly frustrated banking reporter unloads about banks getting away with it (pungent 2 min. video).
Putin sees a “catastrophic decline in oil prices” but thinks Russia will be OK.
“Businesspeople here are eager to start something new but can’t because we are crushed by our country’s debt.”
The bloodletting will go on until the money dries up.
But it performs miracles on corporate profits.
Job cut announcements double from a year ago. Worst since 2009.