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Japan’s GDP Is Collapsing, And Experts Are Warning That China Will Be Next
Global economic conditions are really starting to deteriorate quite rapidly. Economists were projecting that Japan’s GDP would shrink by 3.8 percent on an annualized basis in the fourth quarter, but instead it greatly surpassed expectations by plunging 6.3 percent. If Japan’s GDP falls again during the first quarter of 2020, and thanks to the coronavirus… Read More
U.S. Consumer Debt Has Jumped To A Record High
Consumer debt – student loans, auto loans, and revolving credit such as credit cards and personal loans – but excluding housing-related debts such as mortgages and HELOCs – jumped…by 4.7% ($187B), to a record $4.2 trillion in the fourth quarter 2019. Without this $187 billion in additional spending funded by $187 billion in additional debt, the… Read More
THE WOLF STREET REPORT: Coronavirus Slams Airbnb, Airlines, Hotels, Casinos, San Francisco, Other Hot Spots
It’s not only Chinese tourists, business travelers, and property buyers who’re not showing up, but also travelers from all over the world who’ve gotten second thoughts about sitting on a plane (10 minutes). [embedded content] Enjoy reading WOLF STREET and want to support it? Using ad blockers – I totally get why – but want… Read More