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This Will Be Largest Evaporation of Wealth in Modern History
This Will Be Largest Evaporation of Wealth in Modern History It’ll devastate China’s economy and reverberate around the world Only a handful of countries have a higher savings rate than the Chinese do. For a still relatively poor emerging country with GDP per capita about a fifth of that in the U.S., the Chinese get […]
Demand for World Bank loans nears crisis levels
Demand for World Bank loans nears crisis levels Lending forecast at £25bn for 2016 as developing countries struggle to cope with weakening global economy A banner announces the 2016 spring meetings of the IMF and World Bank in Washington DC. Photograph: Mandel Ngan/AFP/Getty Images Demand for loans from the World Bank has reached levels unsurpassed outside of […]
Stunning Photos Of Huge Oil Supertanker Lines Forming “World’s Biggest Traffic Jam”
Stunning Photos Of Huge Oil Supertanker Lines Forming “World’s Biggest Traffic Jam” “It may be the world’s biggest traffic jam.” – Reuters Last week we revealed what we thought was a “shocking photo” of nearly 30 oil tankers caught in a traffic jam off the Iraqi coast, an indication of just how […]
The New Middle Kingdom Of Concrete And The Red Depression Ahead
The New Middle Kingdom Of Concrete And The Red Depression Ahead No wonder the Red Ponzi consumed more cement during three years (2011-2013) than did the US during the entire twentieth century. Enabled by an endless $30 trillion flow of credit from its state controlled banking apparatus and its shadow banking affiliates, China went berserk building factories, warehouses, ports, office towers, […]
Is China’s Economy in even Deeper Trouble than We Think?
Is China’s Economy in even Deeper Trouble than We Think? Rail freight volume plunges to 2007 levels. Rail freight volumes are an indicator of China’s goods-producing and goods-consuming economy, not just manufacturing, construction, agriculture, and the like, but also consumer goods. Thus they’re also an indication of consumer spending on goods. Alas, rail freight volume is […]
Japan Desperately Needs a Stronger Dollar, China Desperately Wants a Weaker Dollar: The Fed Can’t Please Both
Japan Desperately Needs a Stronger Dollar, China Desperately Wants a Weaker Dollar: The Fed Can’t Please Both The FX market is about to blow up in the Fed’s face, and there’s nothing they can do about it. Foreign exchange (FX) is a zero-sum game: if one currency weakens, another must strengthen. Since the value of a […]
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 […]
Western Mistakes, Remade in China
Western Mistakes, Remade in China SHANGHAI – The Chinese economy faces an enormously challenging transition. To achieve its goal of joining the world’s high-income countries, the government has rightly urged a “decisive role for the market.” But, while market competition works well in many sectors, banking is different. Indeed, over the last seven years, China’s […]
“Unprecedented Leak” Exposes The Criminal Financial Dealings Of Some Of The World’s Wealthiest People
“Unprecedented Leak” Exposes The Criminal Financial Dealings Of Some Of The World’s Wealthiest People An unprecedented leak of more than 11 million documents, called the “Panama Papers“, has revealed the hidden financial dealings of some of the world’s wealthiest people, as well as 12 current and former world leaders and 128 more politicians and public […]
The Trade Wars Begin: China Retaliates To Steel Tariffs With Global Anti-Dumping Duties
The Trade Wars Begin: China Retaliates To Steel Tariffs With Global Anti-Dumping Duties When looking back in history, December 23, 2015 may be the date the global trade wars officially began. On that day, as we reported at the time, the U.S. imposed a 256% tariff on Chinese steel imports. It did so perhaps with […]
Xi warns Obama against threatening China’s sovereignty & national interests
Xi warns Obama against threatening China’s sovereignty & national interests US President Barack Obama(not shown) and China’s President Xi Jinping take part in a bilateral meeting on the sidelines of the Nuclear Security Summit at the Walter E. Washington Convention Center on March 31, 2016 in Washington, DC. © Mandel Ngan / AFP China has warned […]
Worst Case Scenario = 73% Down From Here
WORST CASE SCENARIO = 73% DOWN FROM HERE As the stock market gyrates higher and lower in a fairly narrow range, the spokesmodels and talking heads on CNBC breathlessly regurgitate the standard bullish mantra designed to keep the muppets in the market. They are employees of a massive corporation whose bottom line and stock price […]
For Canada’s Banks This Is “The Next Shoe To Drop”, And Why It Will Drop This Spring
For Canada’s Banks This Is “The Next Shoe To Drop”, And Why It Will Drop This Spring Roughly around the time the market troughed in early February, we asked “After The European Bank Bloodbath, Is Canada Next?” The reason for this question was simple: we said that “when compared to US banks’ (artificially low) reserves […]
