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This is How the Trade Pact Escalates the Currency War
This is How the Trade Pact Escalates the Currency War When negotiators from 12 nations and hundreds of lobbyists from around the world, after years of horse-trading, agreed on a “trade deal” on Monday – a deal that remains secret except for the sections that have been leaked – President Obama gushed that it “reflects […]
‘Sanction Spiral’: Russian Natural Gas Exports to Europe Soar
‘Sanction Spiral’: Russian Natural Gas Exports to Europe Soar The infamous “sanction spiral” imposed on Russia by the US and Europe with such fanfare last year in the wake of the Ukrainian fiasco has receded from Western headlines. In Russia, it coagulated with the oil price plunge, and during the first two quarters this year, the economy […]
Biggest Crash In South Korea Exports Since 2009 Confirms Global Trade In Freefall
Biggest Crash In South Korea Exports Since 2009 Confirms Global Trade In Freefall While the market’s attention overnight was focused on China’s crumbling manufacturing and service PMI, data which was already hinted in the flash PMI reports earlier in August, the real stunner came not from China but from South Korea, which last night reported […]
China: Doomed If You Do, Doomed If You Don’t
China: Doomed If You Do, Doomed If You Don’t Whichever option China chooses, it loses. Many commentators have ably explained the double-bind the central banks of the world find themselves in. Doing more of what’s failed is, well, failing to generate the desired results, but doing nothing also presents risks. China’s double-bind is especially instructive. While there an […]
Trouble South Of The Border
Trouble South Of The Border Mexico’s vulnerabilities pose a huge risk to the U.S. Too big to fail is a seven-year phenomenon created by the most powerful central banks to bolster the largest, most politically connected US and European banks. More than that, it’s a global concern predicated on that handful of private banks controlling […]
Enjoy Canada’s low dollar while you can: Don Pittis
Enjoy Canada’s low dollar while you can: Don Pittis There’s not much you can do about the low loonie, so just look on the bright side The low Canadian dollar is hurting John Stiles at Calgary-based Planet Foods. His company distributes natural foods and healthy snacks across Canada. The cost of his U.S. imports is […]
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 […]
Canada “Getting Clocked” by Something Far Bigger than Oil
Canada “Getting Clocked” by Something Far Bigger than Oil Canada is likely in a technical recession, after the economy shrank for the first five months of the year. It’s heavily dependent on commodities. The oil bust and the broader commodity rout have been blamed liberally. The theory goes that the problem is contained. The oil […]
U.S. Containerized Exports Fall Off the Chart
U.S. Containerized Exports Fall Off the Chart “Many of our major trading partners are experiencing stalled or slowing economies, and the strength of the US Dollar versus other currencies is making US goods more expensive in the export market.” That’s how the Cass/INTTRA Ocean Freight Index report explained the phenomenon. What happened is this: The […]
China Provides Another Threat to Oil Prices
China Provides Another Threat to Oil Prices First it was a stock market meltdown, now it’s a weakening currency. China continues to present significant risks to the oil market. On August 11, China decided to devalue its currency in an effort to keep its export-driven economy competitive. The yuan fell 1.9 percent on Tuesday, the […]
Will China Play The ‘Gold Card’?
Will China Play The ‘Gold Card’? Alasdair Macleod has posted an article at www.goldmoney.com which I think is important. (See “Credit deflation and gold”.www.goldmoney.com/research/analysis.) The thrust of the article is that China, at some point, will have to revalue gold in China; which means, in other words, that China will decide to devalue the Yuan […]
China “Loses Battle Over Yuan”, And Now The Global Currency War Begins
China “Loses Battle Over Yuan”, And Now The Global Currency War Begins Almost exactly seven months ago, on January 15, the Swiss National Bank shocked the world when it admitted defeat in a long-standing war to keep the Swiss Franc artificially weak, and after a desperate 3 year-long gamble, which included loading up the SNB’s balance […]
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 […]
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 […]
‘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 […]
