The 'America First' Endgame: US Financial Warfare, the Coming Global Reset & the Making of Europe by Chris Luenen

Author:Chris Luenen [Luenen, Chris]
Language: eng
Format: epub
Publisher: Forumpress
Published: 2019-07-22T04:00:00+00:00

This puts an increasing number of US businesses at risk of default, not least in the energy sector, from which 15% of all outstanding junk bonds emanate.20 US bankruptcies have already soared in recent years, especially in the retail sector. Big US department stores and retailers such as JCPenney, Kmart, Macy’s, Sears, Toys R Us, Claire’s, Bon Ton, Sam’s Club, Best Buy and others have closed hundreds of malls, shops and locations across the US, or have been liquidated entirely, with record closures and liquidations in 2017 and 2018.21

All these risk factors in the US economy have emerged amidst the broader changes and challenges in the global economy, a steadily worsening geopolitical context and the ongoing and worsening trade and financial wars between the US and its competitors. Looking at the global economy as a whole, there seems to be a general consensus emerging among macro investors that the short- to medium-term outlook for emerging market bond and equity markets, European bond and equity markets, commodity markets, including precious metals and oil markets, and also US equity markets, are all rather negative. This indicates that the almost decade-long rally in equity markets will inevitably come to an end. However, the question remains whether US equity markets will give first, or whether the US Dollar and government bond markets will.

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