“As governments across the globe struggle to restore their growth rates, a new spectre has come to haunt many of them: Unsustainable debt…
“…the specific way in which the global financial crisis was sought to be addressed keeping in mind the interests of finance, has delivered a debt spiral, without imparting much dynamism to the world economy. There is a real possibility of another debt meltdown.”
“The U.S. broke its record for time without an economic recession Monday as it began the 121st consecutive month of gross domestic product (GDP) growth since the 2008 recession.
“The recovery, which began in July 2009, turned 10 years old Monday, marking the longest stretch of economic expansion in modern U.S. history.”
“The wealthiest fifth of Americans hold 88% of the country’s wealth, a share that has grown since before the crisis, Federal Reserve data through 2016 shows. Meanwhile, the number of people receiving federal food stamps tops 39 million, below the peak in 2013 but still up 40% from 2008 even though the country’s population has only grown about 8%…
“Now, many of the signs of mega-wealth that preceded that financial crisis  are once again on display.”
“When RV sales are doing well, the economy follows; when RV sales tank, the economy is soon to tank too…
“The RV industry has repeatedly fallen in advance of more widespread economic troubles… the next recession could be around the corner.”
“…the Fed, which signaled rate cuts could come soon due partly to uncertainty caused by the trade war, still faces a slowing global economy as well as businesses domestically putting off spending until China and the United States reach a lasting truce.”
“Private sector asks to immediately apply effective measures against the current economic deceleration that is taking place in Mexico.
““The Mexican economy is in risk of falling into a vicious circle of stagnation and even reaching recession”, warned the Center for Economic Studies of the Private Sector (Centro de Estudios Económicos del Sector Privado: Ceesp).”
“The Reserve Bank [of Australia] has cut interest rates to an historic low of 1 per cent, as it stares down the twin issues of rising unemployment and a slowing economy…
“The 0.25-percentage-point cut follows a move at last month’s meeting and is the first back-to-back cut since 2012, amid fears of a global financial meltdown flowing from European banks.”
“”The current economy [South Korea] seems worse than it was back in 2008, during the global financial crisis,” Kang said in his office in Hanam Industrial Complex in the city of Gwangju, some 270 km (167.77 miles) southwest of Seoul.
“”The worst scenario for us will be our unit only doing design work and our production being tossed to countries with cheaper labour such as China or Mexico.””
“The days of a “free lunch’’ are over for Asia’s banks, which face an intensifying threat from slowing economic growth and competition with technology firms, according to McKinsey & Co. After years of rapid expansion, banks in the region are now seeing their revenue and profit growth slow and global market share shrink, the New York-based consultancy wrote in a report.”
“Indian companies, across both private and public sectors, announced new projects worth ₹43,400 crore in the June 2019 quarter, 81% lower than what was announced in March quarter and 87% lower than the same period a year ago…
“…the data paints a grim picture of an investment-starved economy and resonates with the Reserve Bank of India’s (RBI) concerns of shrinking investment in the Indian economy.”
“India’s $42 billion shadow-banking system has been creaking since one of the country’s biggest infrastructure lenders unexpectedly halted debt repayments in 2018. Investor nerves were rattled again in June when a major mortgage lender delayed bond interest payments, indicating credit markets remain under enormous strain…
“Can investor confidence be restored or is a full-blown financial crisis brewing?”
“The battle between Boris Johnson and Jeremy Hunt to outdo each other in offering the hardest Brexit with “no deal” pledges is the “height of irresponsibility”, showing “zero understanding” of the consequences, business leaders have said.
“The trade body Make UK spoke out after manufacturers suffered the sharpest fall in activity in six and a half years, adding to signs of economic weakness.”
“Summer has arrived in London, but the smiles are likely to remain frozen in the financial community as HSBC Holdings Plc and Deutsche Bank AG join Nomura in implementing thousands of job reductions. In an atmosphere that may be the gloomiest since the financial crisis, some are jumping before they’re pushed.”
“In a speech to finance leaders on Tuesday, City minister John Glen is expected to announce government plans to boost the use of green financial products and remind financiers of the “vital role” they have to play in “securing a greener future for us all”.
“The action plan includes the official launch of a so-called Green Finance Institute…”
“Oil cartel Opec agreed to extend supply cuts by nine months today, in an attempt to maintain the price of oil in face of soaring US production and fears of a global economic slowdown…
“Opec and its allies have been cutting output since 2017 to support oil prices…”
“The world’s most powerful leaders gathered at the Group of 20 summit in Osaka, Japan last week for meetings that may help set the direction of the global economy.
“These talks occurred as global manufacturing contracted for the second consecutive month. Two months of contraction in global trade has not happened in six-and-a-half years, according to the J.P. Morgan Global Manufacturing Index.”