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People’s Bank of China Freaks Out, Devalues Yuan by Record Amount, Vows to “Severely Punish” Capital Flight
People’s Bank of China Freaks Out, Devalues Yuan by Record Amount, Vows to “Severely Punish” Capital Flight Everything has started to go wrong in the Chinese economy despite its mind-bending growth rate of 7%. Exports plunged and imports too. Sales in the world’s largest auto market suddenly are shrinking just when overcapacity is ballooning. The […]
The Price Of ‘C’ In China
The Price Of ‘C’ In China Source: U.S. Department of Energy As the chart above indicates, since the end of World War II, the amount of carbon being leaked into the atmosphere has increased almost parabolically, with a brief pause around 1980 after the price of oil had come unhinged from its single digit moorings […]
Is China’s “Black Box” Economy About to Come Apart?
Is China’s “Black Box” Economy About to Come Apart? A China crisis will de-stabilize the world After 30 years of torrid expansion, perhaps the single most consequential factor in China’s economy is how much of it is a “black box”: a system with visible inputs and outputs whose internal workings are opaque. There are number […]
China’s Hard Landing Suddenly Gets a Lot Rougher
China’s Hard Landing Suddenly Gets a Lot Rougher This has become a sign of the times: Foxconn, with 1.3 million employees the world’s largest contract electronics manufacturer, making gadgets for Apple and many others, and with mega-production facilities in China, inked a memorandum of understanding on Saturday under which it would invest $5 billion over the next five […]
The Canaries Continue To Drop Like Flies
The Canaries Continue To Drop Like Flies One would think as “canary” after “canary” falls silent either sickened with laryngitis, or worse – completely comatose. Those on Wall Street as well as the financial media itself would not only have seen, but heard, many of the warning calls that have been obvious for quite some time. […]
Bad Debt Soars 35% In China As Government Set To Fabricate Dismal Loan Data
Bad Debt Soars 35% In China As Government Set To Fabricate Dismal Loan Data Back in March, we noted that decelerating economic growth and bad debt are taking a toll on profitability at China’s largest banks, leading them to slash payouts to shareholders. “Particularly hard hit is ABC, which saw its non-performing loans jump 25bps Q/Q,” we […]
You Can Add Iraq And Ukraine To The List Of Economies That Are Collapsing
You Can Add Iraq And Ukraine To The List Of Economies That Are Collapsing The list of nations around the globe that have collapsing economies just continues to grow. In recent weeks I have written about the ongoing saga in Greece, the stock market crash in China, the debt crisis in Puerto Rico and the economic meltdown in […]
China’s Plunge Protection “National Team” Bought 900 Billion In Stocks, Goldman Calculates
China’s Plunge Protection “National Team” Bought 900 Billion In Stocks, Goldman Calculates In, “The Complete Guide To China’s CNY 4 Trillion Margin Doomsday Machine,” we presented a comprehensive look at the various backdoor channels the country has used to skirt official restrictions on leveraged stock trading. Here, courtesy of BofAML, is a breakdown of these […]
Scotiabank Warns “The Fed Is Cornered And There Are Visible Market Stresses Everywhere”
Scotiabank Warns “The Fed Is Cornered And There Are Visible Market Stresses Everywhere” Part One, China An economic slowdown is underway in China. This is reflected in the steep drop in the commodity complex and in the currencies of emerging market countries. Large imbalances are being worked off as Beijing attempts to shift the composition of […]
Op-Ed: U.S. should think twice before retaliating against China over unfounded hacking charges
Op-Ed: U.S. should think twice before retaliating against China over unfounded hacking charges The United States is on the brink of making another grave mistake under the name of protecting cyber security, as it is reportedly considering retaliatory measures against China for unfounded hacking accusations. Senior U.S. government and intelligence officials were quoted by a […]
The Unnerving Thing Global Automakers Just Said About China’s Economy
The Unnerving Thing Global Automakers Just Said About China’s Economy Global automakers, still intoxicated with their own optimism after years of white-hot growth that transformed China’s auto market from a backwater to the largest market in the world, have an increasingly chilling message. The auto industry is a huge force in driving economic growth in […]
Reshuffling Eurasia’s Energy Deck — Iran, China and Pipelineistan
Reshuffling Eurasia’s Energy Deck — Iran, China and Pipelineistan Pipelineistan – the prime Eurasian energy chessboard — never sleeps. Recently, it’s Russia that has scored big on all fronts; two monster gas deals sealed with China last year; the launch of Turk Stream replacing South Stream; and the doubling of Nord Stream to Germany. Now, with […]
‘Perfect Storm’ Engulfing Canada’s Economy Perfectly Predictable
‘Perfect Storm’ Engulfing Canada’s Economy Perfectly Predictable Years ago Andrew Nikiforuk, citing experts, warned where Stephen Harper’s priorities would lead us. Economists, an irrational tribe of short-sighted mathematicians, are now calling Canada’s declining economic fortunes “a perfect storm.” It seems to be the only weather that complex market economies generate these days, or maybe such […]
Oil Re-Bloodies the “Smart Money”
Oil Re-Bloodies the “Smart Money” The “liquidity death spiral.” Oil plunged again on Monday, with West Texas Intermediate down over 4%. At $45.17 a barrel, it’s just a hair away from this year’s oil-bust low. During 8 weeks in a row of relentless declines, WTI had plunged 26%. July’s 21% drop was the largest monthly decline since […]
Breaking Down China’s $23 Trillion Debt Pile
Breaking Down China’s $23 Trillion Debt Pile Back in April, we highlighted Beijing’s “massive debt problem“, noting that as of last year, total debt in China amounted to some $28 trillion when you include government debt, corporate debt, and household borrowing. As Bloomberg noted at the time – and as we’ve discussed extensively – Beijing […]
