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Hot Money

Hot Money I watched the new documentary Hot Money by Susan Kucera tonight. An intelligent world-wise father (General Wesley Clark) and his son discuss some of the problems we face with many smart participants. I don’t think they interviewed a single idiot, which was refreshing. They know something is seriously wrong and make an honest attempt to […]

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Weekly Commentary: “Hot Money” Watch

Weekly Commentary: “Hot Money” Watch In the People’s Bank of China’s (PBOC) Monday daily currency value “fixing,” the yuan/renminbi was set 0.33% weaker (vs. dollar) at 6.9225. Market reaction was immediate and intense. The Chinese currency quickly traded to 7.03 and then ended Monday’s disorderly session at an 11-year low 7.0602 (largest daily decline since […]

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Chasing Yield during ZIRP & NIRP Evidently Starved Human Brains of Oxygen. Now the Price Is Due

Chasing Yield during ZIRP & NIRP Evidently Starved Human Brains of Oxygen. Now the Price Is Due See Argentina’s 100-year dollar-bond and emerging-market “turmoil” as the Hot Money flees. Let’s be clear: It’s not just Argentina. But Argentina is the most elegant example. The exodus of the hot money from emerging markets where cheap dollar-debts […]

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Behind Vancouver’s Housing Bubble: How Canadian Casinos Are Use To Launder Millions In Chinese Drug Money

Behind Vancouver’s Housing Bubble: How Canadian Casinos Are Use To Launder Millions In Chinese Drug Money Nearly two years after we first observed that Vancouver‘s soaring real estate market is nothing but a bubbling melange of criminal Chinese oligarch “hot money”, desperate to get parked offshore in any piece of real estate, but mostly in […]

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“Are We Prepared to Impose Temporary Debt Standstills?”

“Are We Prepared to Impose Temporary Debt Standstills?” In a remarkable turnaround, foreign investors are estimated to have pumped over $35 billion into emerging market (EM) stocks and bonds in March, the highest monthly inflow in nearly two years, according to the Institute of International Finance. One of the biggest beneficiaries is Latin America, which […]

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Do Any of the Current Rallies Pass “The Sniff Test”? No.

Do Any of the Current Rallies Pass “The Sniff Test”? No. But you can’t tame the monster of speculative, legalized looting and financialization. Everything from iron ore to copper to the Baltic Dry Index to stocks to bat guano is rallying. The problem is not a single rally passes “the sniff test:” is the rally the […]

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Olduvai IV: Courage
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Olduvai II: Exodus
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