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Olympics In Doubt As Brazil Sports Minister Quits, Rio Governor Says “This Is The Worst Situation I’ve Ever Seen”

Olympics In Doubt As Brazil Sports Minister Quits, Rio Governor Says “This Is The Worst Situation I’ve Ever Seen” In less than five months, Brazil is expected to host the Summer Olympics. If you follow LatAm politics, you know that that is an absolute joke. Last summer, the country descended into political turmoil and the […]

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Deutsche Bank’s Dire Warning On Global Trade: “The Currency War Is Futile”

Deutsche Bank’s Dire Warning On Global Trade: “The Currency War Is Futile” “It’s almost like the timing belt on the global growth engine is a bit off or the cylinders are not firing as they should.” That’s from WTO chief economist Robert Koopman, and it’s a quote we’ve used on a number of occasions. Koopman […]

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“There Are No More Dollars In The Central Bank”: Argentina’s New President Confronts Liquidity Crisis

“There Are No More Dollars In The Central Bank”: Argentina’s New President Confronts Liquidity Crisis On Monday, Mauricio Macri, the son of Italian-born construction tycoon Francesco Macri, beat out Cristina Kirchner’s handpicked successor Daniel Scioli for Argentina’s presidency in what amounted to a referendum on 12 years of Peronist rule. A legacy of defaults combined with exceptionally […]

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Don’t Forget China’s “Other” Spinning Plate: Trillions In Hidden Bad Debt

Don’t Forget China’s “Other” Spinning Plate: Trillions In Hidden Bad Debt To be sure, there’s every reason to devote nearly incessant media coverage to China’s bursting stock market bubble and currency devaluation. The collapse of the margin fueled equity mania is truly a sight to behold and it’s made all the more entertaining (and tragic) […]

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“This Time May Be Different”: Desperate Central Banks Set To Dust Off Asia Crisis Playbook, Goldman Warns

“This Time May Be Different”: Desperate Central Banks Set To Dust Off Asia Crisis Playbook, Goldman Warns Early last month, Bloomberg observed that plunging currencies were “handcuffing bankers from Chile to Colombia.” The problem was described as follows: Central bankers in commodity-dependent Andes economies aren’t even considering interest-rate cuts to revive growth, even as prices for oil, […]

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Brazil Throws In Towel On Budget; Citi Compares Fiscal Outlook To “Bloody Terror Film”

Brazil Throws In Towel On Budget; Citi Compares Fiscal Outlook To “Bloody Terror Film” Late last week, Brazil officially entered a recession as the economy contracted 1.9% in Q2, a quarter in which Brazilians suffered through the worst stagflation in over ten years. What was perhaps worse than the GDP print however, was budget data […]

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Why It Really All Comes Down To The Death Of The Petrodollar

Why It Really All Comes Down To The Death Of The Petrodollar Last week, in the global currency war’s latest escalation, Kazakhstan instituted a free float for the tenge. The currency immediately plunged by some 25%. The rationale behind the move was clear enough. The plunge in crude prices along with the relative weakness of the Russian […]

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Olduvai IV: Courage
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Olduvai II: Exodus
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