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Why the Bear of 2015 Is Different from the Bear of 2008
Why the Bear of 2015 Is Different from the Bear of 2008 Are there any conditions now that are actually better than those of 2008? It’s tempting to see similarities in last week’s global stock market mini-crash and the monumental meltdown that almost took down the Global Financial System in 2008-2009. The dizzying drop invites comparison […]
Is This Black Monday Crash The BIG ONE? It Doesn’t Matter
Is This Black Monday Crash The BIG ONE? It Doesn’t Matter After losing 11% last week, Shanghai this morning was down almost -9% at one point, after lunch went back up to -6.5%, and ended its day at -8.49%. A Black Monday for sure, but is this the BIG ONE? It really doesn’t matter one […]
“Black Monday” – Shanghai Composite Goes Red For The Year, Wiping Out 60% In Gains, 2000 Stocks Limit Down
“Black Monday” – Shanghai Composite Goes Red For The Year, Wiping Out 60% In Gains, 2000 Stocks Limit Down China Xinhua News ✔@XHNews Black Monday! #ChinaStocks join global panic selloff, dive 8.5%, worst since Asian financial crisis at midday 11:31 PM – 23 Aug 2015 George Chen ✔@george_chen FACTS: By midday break, nearly 2000 stocks […]
Saudi Arabia Faces Another “Very Scary Moment” As Economy, FX Regime Face Crude Reality
Saudi Arabia Faces Another “Very Scary Moment” As Economy, FX Regime Face Crude Reality “They are working for their market share, not for the price,” Kazakh Prime Minister Karim Massimov told Bloomberg on Saturday, during the same interview in which he predicted that sooner or later, dollar pegs in Saudi Arabia and the UAE would […]
Gulf Markets Melting Down: Saudi Arabia Plunges 7%, Dubai Sold
Gulf Markets Melting Down: Saudi Arabia Plunges 7%, Dubai Sold Following the end of a horrible week for petroleum importers (not to mention shale producers) despite WTI briefly dipping under $40 (wasn’t this supposed to be great news for the US economy?) we have the start of a just as ugly week for the Persian […]
What the Heck is Going on in the Global Markets?
What the Heck is Going on in the Global Markets? This wasn’t supposed to happen. The week was already on a crummy downhill path globally, and emerging-market currencies were blowing up, when on Friday in China the Caixin’s Purchasing Manager’s Index hit the worst level since March 2009; manufacturing is sinking deeper into the mire. So the […]
Commodity Markets In Distress As Oil Rout Continues
Commodity Markets In Distress As Oil Rout Continues One hundred and eleven years after the birth of Count Basie, and the ongoing rout in the crude complex is in full swing today. Downhill one-way traffic continues amid headlines such as ‘No End in Sight for Oil Glut‘ and ‘Oil Poised for Longest Weekly Losing Streak Since 1986 […]
These Currencies Could Be The Next To Tumble In Global FX Wars
These Currencies Could Be The Next To Tumble In Global FX Wars Earlier this week, Kazakhstan moved to a free float for the tenge, prompting the currency to plunge by some 25%. The move came after the country’s exporters could no longer stand the pain from plunging crude prices and the RUB’s relative weakness. China’s move to […]
TSX and Dow plunge again on fears of China-led slowdown
TSX and Dow plunge again on fears of China-led slowdown Dow in correction territory as investors hit ‘sell’ button North American stock markets closed sharply lower again today, ending what was a dismal week for equities as fears about the global economy and falling oil prices had many investors selling. The main benchmark index of […]
It’s Not Just China You Should Be Worried About
It’s Not Just China You Should Be Worried About Junk Rolling Over TIVOLI, New York – Chinese stocks fell hard on Tuesday. The Shanghai Composite plunged more than 6% – the biggest fall in three weeks. Our research team in Beijing is downcast. “Nobody here wants to hear about stocks,” they tell us. Image credit: […]
Insouciance Rules The West
Insouciance Rules The West Europe is being overrun by refugees from Washington’s, and Israel’s, hegemonic policies in the Middle East and North Africa that are resulting in the slaughter of massive numbers of civilians. The inflows are so heavy that European governments are squabbling among themselves about who is to take the refugees. Hungary is […]
China explosions: Cyanide in waters near blast site said to be 277 times acceptable level
China explosions: Cyanide in waters near blast site said to be 277 times acceptable level Drinking water in Tianjin meets national standards, health authority says Chinese authorities warned that cyanide levels in the waters around the Tianjin Port explosion site had risen to as much as 277 times acceptable levels although they declared that the […]
Can Kickers United—–Why It’s Getting Downright Hazardous Out There
Can Kickers United—–Why It’s Getting Downright Hazardous Out There It’s getting downright hazardous out there, and not just because the robo-machines were slamming the “sell” key today. The real danger comes from the loose assemblage of official institutions which claim to be running the world. They might better be referred to as “can kickers united.” It is now blindly obvious that they have lapsed into […]
