Archive For: October 2015

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Goodbye To The Empty Bus-----A Better Way Forward

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China's Bad Debt May Be As High As 20%

While traditional bank loans are not Chu’s prime focus -- she looks at the wider picture, including shadow banking -- she says her work suggests that nonperforming loans may be at 20 percent to 21 percent, or even higher.

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The Bombers From Incirlik------US Airstrikes Assist Kurds, Turkish Bombs Attack Them

Ok, so what appears to be going on here is that Washington is going to embed the US commandos with the Kurds and support them with airstikes flown from Incirlik. If you follow the conflict closely, that should strike you as completely absurd. The US is going to fight alongside the YPG and provide them with air support via a Turkish airbase......But just last week, Turkish warplanes flying from the very same airbase bombed these very same Kurds as they were trying to fight this very same ISIS!

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A Glimmer of Hope for Syria

But Official Washington’s neocons/liberal interventionists seem determined to wreck any possible peace deal. These influential opinion leaders – bolstered by the “human rights” community – continue to insist on “regime change” in Syria, a top neocon goal since the 1990s. The Assad family’s ouster was expected to be the quick follow-on to the U.S. invasion of Iraq in 2003, except that the Iraq operation didn’t turn out exactly as the neocons had drawn it up at their think tanks.

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Haruhiko Kuroda – The Pressure to “Do More” Rises

  BoJ Leaves Policy Unchanged, but What Comes Next? The Bank of Japan has employed QE programs since March of 2001 (in February of 2001, it still claimed that “QE will be ineffective” – it was right then, for the last time). These have had no effect apart from making a Keynesian government spending orgy […]

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The China Steel Monster------A Freak Of History

China's crude steel production tripled between 1980 and 2000 to 128.5 million tonnes and then went supernova in the following decade with annual growth rates of up to 30 percent......By 2014, China's production had reached 823 million tonnes. It was not just the world's largest producer, it produced more than the rest of the world combined.

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Red Capitalism-------China Is Still The Center Of The Global Bubble

used “time bomb” terminology because throwing previously inconceivable quantities of new Chinese Credit atop “Terminal Phase” excess ensures exponential growth in systemic risk. Ironically, the huge reserve holdings – perceived to support systemic stability – actually ensure excesses are allowed to run unchecked to catastrophic extremes. I expect “capital” flight will continue to deplete reserve holdings. Markets will fret covert activities employed to support the yuan and bolster reserves. At some point, the markets will contrast the rising mountain of problem and suspect loans (and bonds) to the dwindling stock of reserves – and turn jittery. At some point there will be plenty to worry about in the Chinese banking system and corporate debt markets.

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Sweden------Vanguard Of The Keynesian War On Cash

Swedish banks have begun removing ATMs even in remote rural areas, and according to Credit Suisse the rule of thumb in Scandinavia is “If you have to pay in cash, something is wrong.” Since 2009 the average annual value of notes and coins in circulation in Sweden has fallen more than 20 percent from over 100 billion to 80 billion kronor.

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The Scariest Halloween Stock Market Chart

The stock market's advance is immortal--isn't it?What would Halloween be without a scary chart of The Stock Market That Cannot Die? We know the stock market cannot die because we're constantly told it's immortal:You know the drill: the F...

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It's Always Back To Income------That Is, Lack Thereof

Spending and wage growth disappointed in September, particularly as incomes continue to register barely any growth. The fact that this stagnation has continued for several years allows commentary such as this: U.S. consumer spending in September recorded its smallest gain in eight months as income barely rose, suggesting some cooling in domestic demand after recent...

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