Zombie Corporations: 10% of Companies Depend on Cheap Fed Money

Zombie Corporations: 10% of Companies Depend on Cheap Fed Money

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themaven.net / by  / Dec 16, 2017

Ten percent of corporations survive only because central banks have kept real interest rates negative.

The BIS defines Zombie firms as those with a ratio of earnings before interest and taxes to interest expenses below one, with the firm aged 10 years or more.

In simple terms, Zombies are those firms that could not survive without a flow of cheap financing.

The above chart shows the median share of zombie firms across AU, BE, CA, CH, DE, DK, ES, FR, GB, IT, JP, NL, SE and US.

According to the BIS Quarterly Report one out of ten corporations in emerging and advanced countries is a “Zombie”.

Let’s dive into the report for more details.


December 16, 2017 at 04:40PM


Canadian Billionaire, Wife, Found Dead In “Suspicious” Suicide

Canadian Billionaire, Wife, Found Dead In “Suspicious” Suicide

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zerohedge.com / by Tyler Durden / Dec 16, 2017 10:18 AM

The billionaire founder of Canadian generic drug Apotex Inc, Barry Sherman, and his wife Honey, were found dead in their Toronto home on Friday under what police described as “suspicious” circumstances.

Police said they were investigating the mysterious deaths after responding to a midday medical call at the Sherman’s home in an affluent section of northeast Toronto. Two bodies covered in blankets were removed from the home and loaded into an unmarked van on Friday evening.

The circumstances of their death appear suspicious and we are treating it that way,” said Constable David Hopkinson. Homicide detectives later told reporters gathered outside the home that there were no signs of forced entry, and no suspects were being sought as of this moment.


December 16, 2017 at 04:30PM

Man Says “Russian Mind Control” Forced Him To Kill His Mother

Man Says “Russian Mind Control” Forced Him To Kill His Mother

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zerohedge.com / by Tyler Durden / Dec 15, 2017 9:05 PM

Russian President Vladimir Putin has been blamed for a lot of nefarious actions lately.

From swaying the US election in Donald Trump’s favor to orchestrating the UK’s withdrawal from the European Union, paranoid Democrats have apparently convinced themselves that there’s no geopolitical disaster that Putin didn’t have a hand in.

And now, one deranged Bakersfield, Calif. man is blaming “Russian Mind Control” for driving him to murder his own mother.

That’s right: We can add matricide to the list of misdeeds that have been attributed to the Russian leader.


December 16, 2017 at 04:00PM

Will Cryptocurrencies Pass the Market Test?

Will Cryptocurrencies Pass the Market Test?

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mises.org /  / Dec 17, 2017

On Friday December 8, 2017, the price of bitcoin closed at $15,206– an increase of 28.3% from November. The yearly growth rate stood at 1,474%.

Many economists and financial commentators hold that in the unregulated market of the internet economy, bitcoin is likely to emerge as a new form of money that is going to bypass the central-bank supervision.

Bitcoin, the invention of a person, or group of people, using the name Satoshi Nakamoto, was launched on January 3, 2009.

The basic idea behind bitcoin is to create, by means of a mathematical algorithm, a substance that is scarce and fungible.

Nakamoto devised a software system that enables people to obtain bitcoins as a reward for solving complex mathematical puzzles. The resulting coins are then used for online trading. Nakamoto also arranged that the number of bitcoins can never exceed 21 million.

Some experts maintain that bitcoin will displace the existing fiat money and will usher in a new era of free banking, which will finally put to rest the menace of inflation.


December 16, 2017 at 03:50PM

Meet The “Armani of Armor” Behind America’s Growing Bulletproof Clothing Industry

Meet The “Armani of Armor” Behind America’s Growing Bulletproof Clothing Industry

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zerohedge.com / by Tyler Durden / Dec 15, 2017 8:45 PM

In the early 1990s, Colombia was locked in a brutal drug war, led by Pablo Escobar, that saw homicide rates in Medellin surge over 8x in a matter of just a few years…


…and it was that surging violence that first prompted Miguel Caballero to start his line of bulletproof clothing some 25 years ago.

Now, as Racked points out today, with violent crime in Colombia back to levels not seen since at least the 70s, Caballero is looking to bring his bulletproof fashions to the United States where he’s hoping that growing fears of gun violence, combined with an eager American consumer that is always willing to part with his/her hard-earned cash in pursuit of the next fad, will be a boon for his business.


December 16, 2017 at 03:30PM

16/12/17: Remember the Russian Attack on the Internet?

16/12/17: Remember the Russian Attack on the Internet?

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trueeconomics.blogspot.com / by  / Saturday, December 16, 2017

In 2016, a bot, named Mirai, wrecked havoc over the global internet with massive waves of DoS attacks on anything, from French telecoms, to U.S. web services, to Russian banks, to African airports and beyond. Per Wired, “As the 2016 US presidential election drew near, fears began to mount that the so-called Mirai botnet might be the work of a nation-state practicing for an attack that would cripple the country as voters went to the polls.”

Of course, the minute there is any suspicion of the ‘nation-state’ actors behind the attack, we know that is the code word for ‘the Russians’. And, of course, given the sheer number of ‘security research’ lackeys eagerly awaiting for the U.S. or UK or EU dollars/pounds/euros in grants and subsidies, the ‘Russian’ spectre loomed large in the wake of Mirai havoc. Here’s a snapshot:


December 16, 2017 at 03:20PM