In the US, mortgage applications are now down 50% and at the lowest levels since 1994. Credit card defaults rates are higher than in 2008. Is the debt bubble about to burst?
Read the article HERE.
Ann Pettifor: On the bursting of bubbles
Economics
DeStatis – German Exports in October 2023: -8.1% on the same month a year earlier
The bad news continues for the German mercantile economy. It is the lowest export sum since January 2022. Exports (calendar and seasonally adjusted exports of goods), October 2023126.4 billion euros-0.2% on the previous month-8.1% on […]
Climate Crisis
Reuters: Xi says China will not build new coal-fired power projects abroad
If true, this would be a massive step toward closing down coal. Purportedly South Korea and Japan have committed to the same this year. Now Germany (who else?) and the Czech Republic are apparently the […]
Geopolitics
AP: Trump’s sanctions on ICC prosecutor have halted tribunal’s work
The International Criminal Court ’s chief prosecutor has lost access to his email, and his bank accounts have been frozen. The Hague-based court’s American staffers have been told that if they travel to the U.S. […]
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