Mario Draghi, former ECB head, delivers a near certain recession outlook. A current ECB governor sees stagflation. However, an agonizing death of the Eurozone is the real story. Draghi Says Euro-Zone Recession Almost Sure to Happen Bloomberg reports Draghi Says Euro-Zone…

Afghanistan‘s decades-long history of occupation, conflict and poverty is deeply intertwined with its role as a major global opium and heroin producer.  According to the new Afghanistan Opium Survey by the United Nations Office on Drugs and Crime, 2023 marks a…

The ongoing conflict between Israel and Hamas, killing hundreds of civilians a day and threatening critical infrastructures of all sorts in the vicinity of the Gaza Strip, has reached a new turn, with the full encirclement of Gaza City by…

Back in July, when we last looked at the unprecedented horror show that is the US budget deficit – and concluded correctly, long before the Q2 Quarterly Refunding Announcement,  that debt issuance was about to explode and yields would soar – we…

The unraveling of San Francisco’s office sector has been stunning so far. The once-thriving urban center is now grappling with a record-high 30% vacancy rate in office buildings, attributed mainly to the shift towards remote and hybrid work in a…

The Eurozone economy is more than wehttps://www.zerohedge.com/economics/eurozone-disaster-between-stagnation-stagflationak. It is in deep contraction, and the data is staggering. The Eurozone Manufacturing purchasing managers’ index (PMI), compiled by S&P Global, fell to a three-month low of 43.1 in October, the sixteenth consecutive…

Almost exactly two years after going public via SPAC, WeWork, the struggling co-working start-up that once held a valuation as high as $47 billion, filed for Chapter 11 bankruptcy protection in New Jersey federal court Monday, having, as Wolf Richter reports, spent its…