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World Finance Leaders Scramble For A Solution To Escalating Trade War, Rising Rates
World Finance Leaders Scramble For A Solution To Escalating Trade War, Rising Rates The main takeaway from the IMF and World Bank Group annual meeting in Bali, which hosted financial ministers and central bank governors from around the world this weekend, was that global trade tensions were having a profound effect on global growth and […]
Good Times…
Good Times… My son wanted to know why it is that Venezuela (a topic that gets discussed around the dinner table at home) chose such painfully, obviously asinine policies. After much thought I explained it thus. Hard times create strong men. Strong men create good times. Good times create weak men. Weak men create hard […]
Major Currencies All Over The World Are In “Complete Meltdown” As The $63 Trillion EM Debt Bubble Implodes
Major Currencies All Over The World Are In “Complete Meltdown” As The $63 Trillion EM Debt Bubble Implodes The wait for the next global financial crisis is over. Major currencies all over the planet are in a “death spiral”, many global stock markets are crashing, and economic activity is beginning to decline at a stunning […]
The First Global Domino Tips
The First Global Domino Tips It’s hard to believe it was only about three months ago. Time flies when disaster unfolds all around you. In early June, Brazil’s central bank arranged a press conference where its President Ilan Goldfajn would set everyone straight. The currency was falling, he admitted, but it would be easily handled […]
Economic Doom Returns: Emerging Market Currencies Collapse To Record Lows As Global Financial Chaos Accelerates
Economic Doom Returns: Emerging Market Currencies Collapse To Record Lows As Global Financial Chaos Accelerates After a little bit of a lull, the international currency crisis is back with a vengeance. Currencies are collapsing in Argentina, Brazil, India, Turkey and other emerging markets, and central banks are springing into action. It is being hoped that […]
No Other Banks Are This Exposed to Turkey, Argentina, Brazil…. Emerging Markets Haunt Spanish Banks
No Other Banks Are This Exposed to Turkey, Argentina, Brazil…. Emerging Markets Haunt Spanish Banks To diversify from the euro-debt-crisis, the biggest Spanish banks pushed deeply into Emerging Markets. Now, they’re in a new crisis. Almost exactly six years ago, the Spanish government requested a €100 billion bailout from the Troika (ECB, European Commission and […]
Weekly Commentary: Turkey (Nudged Over the Cliff)
Weekly Commentary: Turkey (Nudged Over the Cliff) The Turkish lira sank 13.7% in chaotic Friday trading. The lira’s 21.0% “worst week in 17 years” collapse pushed y-t-d losses to 41.1%. Turkish 10-year yields spiked to almost 21%, before retreating somewhat. After beginning the year at 155, Turkey sovereign credit default swaps (CDS) spiked 166 bps […]
“I’m Totally Freaked Out”: Brazil’s Elite Fleeing Bloodshed And Chaos
“I’m Totally Freaked Out”: Brazil’s Elite Fleeing Bloodshed And Chaos Amid the economic, political, and social collapse, Brazil has been described by many as being in the midst of a “zombie apocalypse” as years of corruption and violence spectacularly implodes all at once. Horrified by the out of control violence and pessimistic about the nation’s […]
“EM FX Never Lies” – BofA Warns As Brazilian Real Is Routed
“EM FX Never Lies” – BofA Warns As Brazilian Real Is Routed Mohamed El-Erian warned overnight that Brazilian policy makers are “in quite a tricky position — and there’s little room for error,” and judging buy this morning’s rout in the real, he is dead right. Crippling nationwide trucker strikes, which prompted the resignation of […]
Brazil Steps Up Intervention to Support the Real: Reflections on Currency Wars
Brazil Steps Up Intervention to Support the Real: Reflections on Currency Wars Winning currency wars is easy. As with trade wars, one may not care for the end result. Bloomberg reports Brazil Steps Up Intervention as the Real Crashes Toward Two-Year Low. Brazil’s central bank bolstered efforts to shore up the currency after it tumbled […]
“The People Live In Terror” – Military Intervention Imposed In Rio As Unrest Worsens
“The People Live In Terror” – Military Intervention Imposed In Rio As Unrest Worsens Brazil’s Senate has overwhelmingly approved a military intervention in Rio de Janeiro that was first proposed by President Michel Temer last week – the latest step in the president’s crackdown on crime and social unrest ahead of a hotly contested local […]
Brazil’s Largest Newspaper Abandons Facebook; Says News Feed is “Banning Professional Journalism”
Brazil’s Largest Newspaper Abandons Facebook; Says News Feed is “Banning Professional Journalism” São Paulo, Brazil— The largest newspaper in Brazil, Folha de S Paulo, announced late last week that due to Facebook’s recent changes to their news feed algorithm resulting in what the paper claims is “effectively banning professional journalism,” it would cease publishing content on […]
Brazilian Army Ordered To “Restore Order” In Rio De Janeiro
Brazilian Army Ordered To “Restore Order” In Rio De Janeiro With public spending on police and social services collapsing amid Brazil’s worsening economic crisis, violent crime has crept back up in Rio de Janeiro, a city widely recognized for its favelas – urban hillside slums teeming with violence, drugs and prostitution, according to Bloomberg. And […]
