Aug 292015
 
 August 29, 2015  Posted by at 12:15 pm Finance Tagged with: , , , ,  No Responses »
Nicole Foss Talks Economics At The End Of The Age Of Oil

Nicole Foss recently participated in a live Skype ‘forum’ discussion at the Doomstead Diner site that also included among others, Gail Tverberg and Ugo Bardi. I declined to participate, too many cooks and all that, and seeing how long this thing went on, I have no doubt that was a good decision. Even if my absence obviously reduced the potential charm and entertainment value considerably. I’ll run this in episodes. Today’s post contains the first. Part II- Economics at the

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Aug 292015
 
 August 29, 2015  Posted by at 9:24 am Finance Tagged with: , , , , , , , , , ,  4 Responses »
Debt Rattle August 29 2015

• Fed Up Investors Yank Cash From Almost Everything Just Like 2008 (Bloomberg) • Everything You’ve Heard About China’s Stock Market Crash Is Wrong (Quartz) • President Xi Had Too Much Riding On China’s Stock Market Boom (Satyajit Das) • Chinese President Xi Jinping Amasses Power, Hits ‘Perfect Storm (CNBC) • The Chinese Bubble (Marco Zanni, M5S in Europe) • There Can Be No Denying China’s Economy Is Slowing Down (Guardian) • Citigroup Braces For World Recession, Calls For Corbynomics

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Aug 282015
 
 August 28, 2015  Posted by at 11:10 am Finance Tagged with: , , , , , , , , ,  4 Responses »
Debt Rattle August 28 2015

• Real Chinese GDP Growth Is -1.1%, According to Evercore ISI (Zero Hedge) • BofA: China Stock Rout To Resume As Intervention Ends (Bloomberg) • Money Pours Out of Emerging Markets at Rate Unseen Since Lehman (Bloomberg) • What China’s Treasury Liquidation Means: $1 Trillion QE In Reverse (ZH) • Global Equity Funds Witness Biggest-Ever Exodus (CNBC) • PBOC Uses Derivatives to Tame Yuan Fall Expectations (WSJ) • China Local Govt Pension Funds To Start Investing $313 Billion ‘Soon’ (Reuters)

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Aug 272015
 
 August 27, 2015  Posted by at 1:34 pm Finance Tagged with: , , , , , , , , ,  18 Responses »
Refugees Expose Europe's Lack Of Decency

This is a story I’ve been wanting to write for a while now, at least two full weeks, but haven’t gotten around to because I have my dying mother to attend to. Something I can to an extent approach from a rational point of view, because she has expressed her explicit will to die. But it will of course never be easy, if only because I’ve been close to her all my life even in the 20-odd years I lived

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Aug 272015
 
 August 27, 2015  Posted by at 11:44 am Finance Tagged with: , , , , , , , , ,  3 Responses »
Debt Rattle August 27 2015

• US Stocks Surge, Snapping 6-Day Losing Streak (AP) • Worst Decline In World Trade In 6 Years (RT) • China Meltdown So Large That Losses Eclipsed BRICS Peers, Twice (Bloomberg) • The Stock Market Hasn’t Had a Selloff Like This One in Over 75 Years (BBG) • China’s Workers Abandon The City As Beijing Faces An Economic Storm (Guardian) • China’s Central Bank Won’t Do Beijing’s Dirty Work (Pesek) • China Is In A Serious Bind But This Is

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Aug 262015
 
 August 26, 2015  Posted by at 11:13 am Finance Tagged with: , , , , , , , ,  8 Responses »
Debt Rattle August 26 2015

• China Stocks Slump as Rate Cut Fails to Stop $5 Trillion Rout (Bloomberg) • US Stock Rally Fails; Day Ends With Vicious Selloff (MarketWatch) • Bubbles Don’t Correct, They BURST! (Harry Dent) • Why China Had To Crash Part 1 (Steve Keen) • Why Worries About China Make Sense (Martin Wolf) • China Cuts Rates To Stem Crisis, But Doubts Grow On Foreign Reserve Buffer (AEP) • The Most Surprising Thing About China’s RRR Cut (Zero Hedge) • China’s

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Aug 262015
 
 August 26, 2015  Posted by at 9:23 am Finance Tagged with: , , , , , , ,  8 Responses »
China Is Pushing On A String Ensemble

Look, it’s very clear where I stand on China; I’ve written a lot about it. And not just recently. Nicole Foss, who fully shares my views on the topic, reminded me the other day of a piece I wrote in July 2012, named Meet China’s New Leader : Pon Zi. China has been a giant lying debt bubble for years. Much if not most of its growth ‘miracle’ was nothing but a huge credit expansion, with an outsize role for

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Aug 252015
 
 August 25, 2015  Posted by at 9:29 am Finance Tagged with: , , , , , , , ,  5 Responses »
Debt Rattle August 25 2015

• China Stocks Plunge 7.63% As Selloff Picks Up Again (MarketWatch) • China Stocks Extend Biggest Plunge Since 1996 on Support Doubts (Bloomberg) • China Crash: You Can’t Keep Accelerating Forever (Steve Keen) • The Gravity of China’s Great Fall (Economist) • China’s Market Leninism Turns Dangerous For The World (AEP) • China Central Bank Injects $23.4 Billion as Yuan Intervention Drains Funds (BBG) • Imploding Chinese Stock Market Does Not Bode Well For World Economy (Forbes) • The Next

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Aug 242015
 
 August 24, 2015  Posted by at 11:54 am Finance Tagged with: , , , , , , , ,  4 Responses »
Debt Rattle August 24 2015

• Global Selloff Deepens as Stocks Sink With Oil (Bloomberg) • Global Bloodbath Sparks Financial Crisis Fears (News.com.au) • A Sell-Off Of Epic Proportions Spreads Further (FT) • Commodities Slump to 16-Year Low as China Slowdown Roils Markets (Bloomberg) • China Poised to Raise Banks’ Liquidity to Boost Lending (WSJ) • China’s One-Year Bonds Decline in Sign of Tightening Liquidity (Bloomberg) • Is The Game Up For China’s Much Emulated Growth Model? (Ghosh) • Chinese Pension Fund ‘Allowed’ To Invest

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Aug 242015
 
 August 24, 2015  Posted by at 9:00 am Finance Tagged with: , , , , ,  13 Responses »
Is This Black Monday Crash The BIG ONE? It Doesn't Matter

After losing 11% last week, Shanghai this morning was down almost -9% at one point, after lunch went back up to -6.5%, and ended its day at -8.49%. A Black Monday for sure, but is this the BIG ONE? It really doesn’t matter one bit. Unless perhaps you persist in calling your self an investor, in which case we pity you, but not for losing your shirt. Because God knows we’ve said enough times now that there are no functioning

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