Nov 232014
 
 November 23, 2014  Posted by at 8:42 pm Finance Tagged with: , , , , , , ,  4 Responses »
Where Is China On The Map Exactly?

A lot of people these days vent their opinions on what’s happening with the Chinese economy, and the opinions are so all over the place they could hardly be more different. Which is interesting, to say the least. Apparently it’s still very hard to understand what does happen ‘over there’. And I don’t at all mean to suggest that I would know better than Morgan Stanley’s former Asia go-to-man Stephen Roach, or hedge funder Hugh Hendry, or Bob Davis, who

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Nov 232014
 
 November 23, 2014  Posted by at 11:30 am Finance Tagged with: , , , , , , , , ,  No Responses »
Debt Rattle November 23 2014

• China’s Surprise Rate Cut Shows How Freaked Out The Government Is (Quartz) • The End of China’s Economic Miracle? (WSJ) • Hugh Hendry: “A Bet Against China Is A Bet Against Central Bank Omnipotence” (MW) • Central Banks in New Push to Prime Pump (WSJ) • Forget What Central Bankers Say: Deflation Is The Real Monster (Observer) • “I Am 100% Confident That Central Banks Are Buying S&P Futures” (Zero Hedge) • UK Chancellor Haunted By Deficit And £1.45

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Nov 222014
 
 November 22, 2014  Posted by at 9:31 pm Finance Tagged with: , , , , , , , ,  10 Responses »
Who's Ready For $30 Oil?

How low can and will oil prices go, and what will the effects of those prices be? I bet you’ll have a hard time finding even just two people who have the same opinion on that. Not that it’s merely a matter of opinion, mind you, there are a great number of real life factors that come into play. It’s not an easy game. OPEC gets together next week, and it’s a cartel divided. Many if not most of its

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Nov 222014
 
 November 22, 2014  Posted by at 12:58 pm Finance Tagged with: , , , , , , , , , ,  1 Response »
Debt Rattle November 22 2014

• Cheap Oil May Be A Sign Of Bigger Problems (MarketWatch) • Drilling Slowdown on Sub-$80 Oil Creeps Into Biggest US Fields (Bloomberg) • Russia to Cooperate With Saudis on Oil, Avoiding Output Cuts (Bloomberg) • Sell, Sell, Sell .. The Central Bank Madmen Are Raging (David Stockman) • What Record Stock Buybacks Say About Economic Growth (Zero Hedge) • Is China Building a Mortgage Bomb? (Bloomberg) • ‘China’s Economy Is Slowing Faster Than You Think’ (CNBC) • China Cut

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Nov 212014
 
 November 21, 2014  Posted by at 9:22 pm Finance Tagged with: , , , , , , ,  5 Responses »
Central Bankers, Fear and Other Bad Counselors

The original idea behind a central bank is that medium and longer term monetary policy should not be allowed to be held hostage by a short-term prevailing political wind, that an incumbent politician and his/her party should not be permitted and/or enabled to manipulate a nation’s currency for political gain. A central bank was (and still is officially) supposed to be independent of politics, to be a buffer between a society’s long term interests and a politician’s short-term ones. In

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Nov 212014
 
 November 21, 2014  Posted by at 12:47 pm Finance Tagged with: , , , , , , , , , ,  1 Response »
Debt Rattle November 21 2014

• Americans, With Record $3.2 Trillion Consumer Debt, Borrow More (Guardian) • How Wall Street Banks Traded Lending For Oil, Gas And Nukes (MarketWatch) • Citigroup Ejected From ECB FX Group for Rigging (Bloomberg) • China ‘Triple Bubble’ Points To Long Slide For Commodities (MarketWatch) • ECB Dips Toe Into Dead Sea Of Rebundled Debt (Reuters) • ECB’s Draghi: ‘Strong Recovery Unlikely’ (CNBC) • Draghi Says ECB Must Raise Inflation as Fast as Possible (Bloomberg) • Greece To Submit Contentious

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Nov 202014
 
 November 20, 2014  Posted by at 10:10 pm Finance Tagged with: , , , , , , ,  9 Responses »
Hugh Hendry And The Deflationary Zeitgeist

It’s funny how things roll at times. When I wrote yesterday’s Making Money While The World Burns, and quoted Hugh Hendry, one of my heroes – well, close, he’s not Ali, but I love the man for his brain -, I hesitated, but thought his words were a great way to start a discussion on what people do when faced with certain conundrums. I certainly never meant to attack Hugh, though words can always be construed to mean things they

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Nov 202014
 
 November 20, 2014  Posted by at 12:26 pm Finance Tagged with: , , , , , , , , , , ,  13 Responses »
Debt Rattle November 20 2014

• Growth Isn’t God in Indonesia (Bloomberg) • Federal Reserve In Easy Decision To End Stimulus (BBC) • Fed Debate Shifts to Tightening Pace After First Rate Increase (Bloomberg) • The Only Thing More Bullish Than Inflation Is …. Deflation (Zero Hedge) • Cheap-Oil Era Tilts Geopolitical Power to US (Bloomberg) • Oil Industry Risks Trillions Of ‘Stranded Assets’ On US-China Climate Deal (AEP) • Iron Ore’s Massive Expansion Era Is Finished: BHP Billiton (Bloomberg) • China’s Factory Activity Stalls

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Nov 192014
 
 November 19, 2014  Posted by at 11:07 pm Finance Tagged with: , , , , ,  18 Responses »
Making Money While The World Burns

I was reading this letter to his fund investors by Hugh Hendry, a very intelligent and probably slightly autistic fund manager I’ve liked a lot forever and a day and have written about quite a bit in the past, and it got me thinking about how and why I see the world different from the way he does, and wondering how you see that difference. Hugh was for years known as a true bear, and then he turned around, changed

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Nov 192014
 
 November 19, 2014  Posted by at 12:57 pm Finance Tagged with: , , , , , , , , ,  No Responses »
Debt Rattle November 19 2014

• Japan’s Last Stand (Michael Pento) • Why Japan’s Money Printing Madness Matters (David Stockman) • New Repair Manual Needed For Japan’s Broken Economy (CNBC) • Kuroda Wins Wider Majority, Warns Inflation Could Dip Below 1% (Bloomberg) • Yellen Inherits Greenspan’s Conundrum as Long Rates Sink (Bloomberg) • Mission Accomplished: Stocks & Homeless Kids Hit All-Time Highs (Simon Black) • China’s Central Bank Makes The Fed Look Like A Bunch Of Amateurs (WolfStreet) • US Equity-Credit Divergence: A Warning (RCube)

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