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It’s Happening Again: Maersk Halts Asia-Europe Loop Amid Global Slowdown
It’s Happening Again: Maersk Halts Asia-Europe Loop Amid Global Slowdown Growth in the world continues to collapse into late summer, so much so that Maersk and Mediterranean Shipping Company (MSC) had to “temporarily suspend” their AE2/Swan Asia to North Europe loop until mid-November, removing 20,000 twenty-foot equivalent unit (TEU) a week from trade, reported The Loadstar. […]
Focus Is Increasingly On How Similar Conditions Are To The Lead Up To WW2: Rabobank
Focus Is Increasingly On How Similar Conditions Are To The Lead Up To WW2: Rabobank Back with a bang As mentioned on Friday, welcome to both La Grande rentrée and weltschmerz: and combining the two, this week we are ‘back with a bang’. That seems appropriate given yesterday marked 80 years since the start of WW2, which one […]
US Slaps New Tariffs On China; One Minute Later China Retaliates
US Slaps New Tariffs On China; One Minute Later China Retaliates The biggest reason for last week’s torrid stock market rally was rekindled “optimism” that the escalating trade war between the US and China may be on the verge of another ceasefire following phone conversations, fake as they may have been, between the US and […]
Hong King Kong
Hong King Kong Of course the notion of addressing Hong Kong has been in my mind for a while, but it’s a bit of a moving target: things change all the time, and seemingly on the fly. However, with today’s fresh developments, it seems silly to wait any longer. Hong Kong Civic party lawmaker Dennis Kwok yesterday […]
Peter Schiff Compares Trade War to “Battle at Little Bighorn”
Peter Schiff Compares Trade War to “Battle at Little Bighorn” Political commentators are increasingly critical of U.S. trade policy, particularly tariffs and the trade war with China. Radio host Peter Schiff went so far as to compare U.S. trade policies to General Custer and the Battle of Little Bighorn. Meanwhile, some economic red flags seem to support […]
Keep it Simple
Keep it Simple Markets blow up on Friday on a series of tweets, markets jam higher on the pronouncement of dubious phone calls on Monday. The rapid back and forth has many heads spinning and makes for dramatic headlines as people are searching for explanations. To which I say: Keep it simple, especially in the age […]
The Anatomy of the Coming Recession
The Anatomy of the Coming Recession Unlike the 2008 global financial crisis, which was mostly a large negative aggregate demand shock, the next recession is likely to be caused by permanent negative supply shocks from the Sino-American trade and technology war. And trying to undo the damage through never-ending monetary and fiscal stimulus will not […]
China Responds To Trump’s “Barbaric” Tariffs: Vows To Fight “Until The End” And Have “The Last Laugh”
China Responds To Trump’s “Barbaric” Tariffs: Vows To Fight “Until The End” And Have “The Last Laugh” After Friday’s blitz of reciprocal trade war escalations, which saw a furious Trump slam the two “enemies of the state”, Fed Chair Powell and China president Xi, following China’s widely expected tariff hike retaliation and Powell’s uneventful Jackson […]
CONfidence
CONfidence Markets are subject to a giant con game. The game of CONfidence. Confidence must be maintained under all circumstances or we’re heading into a global recession first and then a US recession to follow. Consider the macro context here: Nine major economiesare either in recession or on the verge of it. This includes Germany, UK, Italy, […]
Chinese Banks No Longer Trust One Another As Repo Rates Skyrocket
Chinese Banks No Longer Trust One Another As Repo Rates Skyrocket For those who have grown bored with the ongoing US-China trade war whose escalation was obvious to all but the dumbest BTFD algos, the biggest news of the past week was that yet another Chinese bank was bailed out by the Chinese government – the third […]
U.S. Currency Wars With China—Past And Present In a purely political move, the Trump administration (read: the U.S. Treasury) has branded China as a currency manipulator. This is an act of war. After President Trump announced that even more tariffs would be imposed on China, the markets took the value of the Chinese yuan down […]
Here Are The Signs The US Gov’t Is Preparing For Farmageddon
Here Are The Signs The US Gov’t Is Preparing For Farmageddon President Trump on Tuesday morning hinted at what appears to be yet another farm bailout (the third one must be the charm), as farm bankruptcies soar and agricultural debt loads become unbearable. ✔ As they have learned in the last two years, our great American Farmers know that China […]
Pakistan Suspends Bilateral Trade With India, Expels Envoy
Pakistan Suspends Bilateral Trade With India, Expels Envoy The Kashmir crisis triggered by India’s revoking of Article 370 from its constitution has exploded into a fast escalating renewed crisis between nuclear armed arch-rivals India and Pakistan. Merely within the last 24-hours Pakistan has recalled its ambassador while expelling its Indian envoy, and more importantly has taken the drastic step […]
4 Reasons To Expect Even More US-China Trade (And Currency) War Escalation
4 Reasons To Expect Even More US-China Trade (And Currency) War Escalation As we noted earlier when summarizing some of the more notable Wall Street reactions to China’s jarring trade war escalation, we highlighted the take of Morgan Stanley’s chief US public policy strategist, Michael Zezas, who said that he saw incentives for the U.S. to escalate […]
DHL Sounds Alarm On Collapsing World Trade: “Significant Downturn” Underway
DHL Sounds Alarm On Collapsing World Trade: “Significant Downturn” Underway A new quarterly report from logistics company DHL, measured global air and sea cargo trade volumes between March and June, found trade data continues to deteriorate in the US and China as there is still no resolution to end the trade war, reported South China Morning Post(SCMP). Chinese […]
