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It Starts: Broad Retaliation Against China in Currency War
It Starts: Broad Retaliation Against China in Currency War The biggest global “tail risk” is China’s deteriorating economy and an emerging market debt crisis, according to BofA Merrill Lynch’s monthly poll of fund managers. And 48% of them were expecting the Fed to raise rates, despite languid growth and low inflation expectations. Hot money is already fleeing emerging […]
Currency Wars Continue As Kazakh Currency Crashes 25% After Peg Abandoned
Currency Wars Continue As Kazakh Currency Crashes 25% After Peg Abandoned On Tuesday we remarked on the increasingly perilous plight of yet another country whose economy has come under increased pressure from plunging oil prices and China’s move to devalue the yuan: Kazakhstan. Just one day after allowing the tenge to fall sharply in the interbank market […]
Low Oil Prices And China Pull The Rug From Under Latin America
Low Oil Prices And China Pull The Rug From Under Latin America When China sneezes, the world gets a cold. The world’s second largest economy is suddenly looking unstable, with economic growth slowing, the stock markets gyrating, and a surprise currency devaluation having taken worldwide markets by surprise. That could be bad news not just […]
The 8 Trillion Black Swan: Is China’s Shadow Banking System About To Collapse?
The 8 Trillion Black Swan: Is China’s Shadow Banking System About To Collapse? “Wealth management products in China have come under the spotlight after a series of missed payments raised concerns over the shadow banking sector that often directs credit to firms shut out from bank lending or capital markets,” Reuters said in February, after reporting […]
Indonesia Impaled: Currency Crashes To 1998 Asian Crisis Low As Exports Crater
Indonesia Impaled: Currency Crashes To 1998 Asian Crisis Low As Exports Crater On Monday we laid out the rather dire road ahead for the world’s emerging economies in the face of China’s entry into the global currency wars. The path ahead is riddled with exported deflation and decreased trade competitiveness for a whole host of emerging economies […]
Toxic Rain Feared In Tianjin As Death Toll Rumored At 1,400
Toxic Rain Feared In Tianjin As Death Toll Rumored At 1,400 The fallout from last week’s massive explosion in the Chinese port of Tianjin continues to worsen, despite Beijing’s best efforts to play down the danger to the public. The official death toll from the apocalyptic blast – which was described by witnesses as akin […]
Asian Currency Crisis Continues As China Holds, Malaysia Folds, & Japan Heads For Quintuple Dip Recession
Asian Currency Crisis Continues As China Holds, Malaysia Folds, & Japan Heads For Quintuple Dip Recession Asia got off to an inauspicious start this evening with Japan printing a disappointing 1.6% drop in GDP – heading for its fifth recession in 6 years… so much for Abenomics, but, of course, Amari spewed forth some standard propaganda that […]
This Week In Energy: The Growing Threat From China
This Week In Energy: The Growing Threat From China Oil prices dropped to new six-year lows this week as WTI dipped below $42 per barrel. The big piece of news this week was the currency depreciation in China. It seems we are talking more and more these days about the warning signs coming from China’s […]
Approaching a Global Deflationary Crisis?
Approaching a Global Deflationary Crisis? Anyone with any sense for global economic trends ought to be worried. The signs are everywhere of a serious deflationary crisis. It is obvious that Chinese growth is falling. The prices for energy and the raw materials that feed the growth economy keep falling. The demand for Chinese exports is […]
The Crisis Is Spreading: China, Australia, Brazil, Canada, Sweden…
The Crisis Is Spreading: China, Australia, Brazil, Canada, Sweden… Earlier today, we posted an excerpt from IceCap Asset Management’s latest letter to investors focusing on the farce that is the Greek bailout #3, which can be summarized simply by the following table… … and Keith Dicker’s assessment which was that “for Greece, it’s mathematically impossible to repay […]
China Blast Zone Evacuated Over Chemical Contamination Fears
China Blast Zone Evacuated Over Chemical Contamination Fears TIANJIN, China— New explosions and fire rocked the Chinese port city of Tianjin on Saturday, where one survivor was pulled out and authorities ordered evacuations within a 3-kilometer (1.8-mile) radius to clean up chemical contamination. Angry relatives of missing firefighters stormed a government news conference to demand […]
US-NATO Military Deployments, Economic Warfare, Goldman Sachs and the Next Financial Meltdown
US-NATO Military Deployments, Economic Warfare, Goldman Sachs and the Next Financial Meltdown Is There a Relationship? What is the relationship between war in a military theater and “economic warfare”? An act of war is invariably an economic undertaking which supports dominant corporate interests. The conduct of US-NATO military operations is carried out on behalf of powerful financial […]
The Shot Not Heard Around the World
The Shot Not Heard Around the World China’s recent move to devalue the yuan has sent shock waves through the global financial markets and has convinced most observers that a new front in the global currency wars has begun. The move has caused many observes to envision a new round of competitive devaluations around the globe […]
China Mess, Yuan Devaluation Spread to the US
China Mess, Yuan Devaluation Spread to the US China’s auto market, which had been the single most important element in the convoluted growth story of GM and other global automakers, was getting battered even before the yuan devaluation. But now elements coagulate into a toxic mix. Sales of passenger vehicles in July dropped 6.6% from […]
