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China “Could Push Whole World into Fresh Economic Crisis”
China “Could Push Whole World into Fresh Economic Crisis” “The End of the Chinese Miracle” After years of big wage increases in China, the supply of cheap labor is coming to an end. The migration of rural populations to cities, which in practically no time created over 250 cities with over 2 million inhabitants, is […]
Helicopter Money “Not on the Table,” ECB Swears Furiously
Helicopter Money “Not on the Table,” ECB Swears Furiously But it’s already here! It has finally sunk in: what everyone really wants is helicopter money. Central banks, instead of transferring trillions of newly created dollars or euros or whatever to the banks should just hand them directly to the people, like dropping bank notes from […]
The EU Has Bigger Trouble than Brexit alone
The EU Has Bigger Trouble than Brexit alone Trouble brewing in the Netherlands The referendum in the Netherlands on April 6th is going to cause a lot of trouble, possibly axing the strong Dutch commitment to the European project. The plebiscite is about the Association Treaty between EU and Ukraine, into which the EU inserted some curious […]
First Ocean Freight Rates Collapse to “Zero,” China Freight Index Plunges to Record Low, Bailouts Loom
First Ocean Freight Rates Collapse to “Zero,” China Freight Index Plunges to Record Low, Bailouts Loom The next stage of “Moral Hazard?” The amount it costs to ship containers from China to ports around the world has plunged to historic lows. As container carriers are sinking deeper into trouble, whipped by lackluster global demand and rampant oversupply […]
Monsanto Losing Its Grip?
Monsanto Losing Its Grip? The earnings warning was just a precursor. Monsanto, the world’s largest seed manufacturer, is not having a good year. The company recently slashed its 2016 earnings forecast from the $5.10-$5.60 per share it had forecast in December to $4.40-$5.10, claiming that about 25-30 cents of the reduction was due to the […]
World Trade Collapses in Dollars, Languishes in Volume
World Trade Collapses in Dollars, Languishes in Volume This wasn’t part of the rosy scenario. The Merchandise World Trade Monitor by the CPB Netherlands Bureau for Economic Policy Analysis, a division of the Ministry of Economic Affairs, tracks global imports and exports in two measures: by volume and by unit price in US dollars. And […]
Brexit Meltdown at the Bank of England
Brexit Meltdown at the Bank of England But it’s supposed to be “independent” from national politics. Project Fear — the massive PR campaign aimed at sowing and watering the seeds of dread about the potential consequences of a YES vote in the upcoming referendum on a British exit from the EU — is in full bloom. […]
China Hard Landing Hits Electricity Consumption
China Hard Landing Hits Electricity Consumption Chairman of large power company slips, apparently. OK, we’ve heard the official story. China is transitioning from a manufacturing economy to a consumption-based economy. Consumers are king. They’re going to buy stuff. And that’s going to heat up the economy. Imports and exports have been plunging for months, but […]
Big-Oil Bailout Begins as Debt Spirals Down
Big-Oil Bailout Begins as Debt Spirals Down Mexico’s proud sugar daddy becomes giant financial sinkhole. Pemex, Mexico’s state-owned oil giant, cannot seem to get a break these days. It notched up 13 straight quarters of rising losses. It now owes over $80 billion to international investors and banks. It needs to raise $23 billion this year to stay […]
This is What’s in Store for the Real Economy
This is What’s in Store for the Real Economy There is no escape. The Census Bureau announced today that total business sales in January did what they’d been doing relentlessly for the past one-and-a-half years: they fell! This time by 1.1% from a year ago, to $1.296 trillion, and by 5% from their peak in July […]
This Chart Shows the First Big Crash Is Likely Just Ahead
This Chart Shows the First Big Crash Is Likely Just Ahead The story on Wall Street and CNBC continues to be that we’re in a correction and this is a buying opportunity. Even Warren Buffett joins the chorus of stock market cheerleaders for the skeptical public. Well, I agree with the skeptical public, not the […]
China Ocean Freight Indices Plunge to Record Lows
China Ocean Freight Indices Plunge to Record Lows There’s simply no respite. Money is leaving China in myriad ways, chasing after overseas assets in near-panic mode. So Anbang Insurance Group, after having already acquired the Waldorf Astoria in Manhattan a year ago for a record $1.95 billion from Hilton Worldwide Holdings, at the time majority-owned by […]
Economic Bubbles Are Leaking. Once They Pop, Game Over
Economic Bubbles Are Leaking. Once They Pop, Game Over
