How does the global debt ponzi scheme end?
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Nope, nothing to see here. And now that this dead cat bounce is underway, surely there will be no more commodity deflation or global economic slowdown or worldwide currency war or historically unprecedented bond bubbles to worry about, right?
China is burning through its huge stockpile of foreign exchange reserves at the fastest pace yet as it seeks to prop up its currency and stem a rising tide of money flowing out of the country.
Jim Simons was a mathematician and cryptographer who realized: the complex math he used to break codes could help explain patterns in the world of finance. Billions later, he's working to support the next generation of math teachers and scholars.
Shortly after the PBoC's move to devalue the yuan, we noted with some alarm that it looked as though China may have drawn down its reserves by more than $100 billion in the space of just two weeks.
(CHARTS)
How do you get a bottom-up stock picker, a chart watcher and an economist to agree? Try asking them about Chinese equities.
Asian stocks fluctuated as early gains by Chinese shares evaporated after national holidays. U.S. equity-index futures advanced, while the yen declined.
The region's attention will likely remain squarely on China in the week ahead, as investors continue to grapple with the dizzying roller-coaster rides in the country's equity markets.
It's all downhill from here.
There is a growing sense across the financial spectrum that the world is about to turn some type of economic page.
In a joint meeting of totally useless finance and labour ministers, the G20 Seeks to 'Double Down' Against Devaluation
foreigners dumped 1.43 trillion yen of Japanese equities in the three weeks through Aug. 28, Tokyo Stock Exchange data updated Thursday show. That's the most for any three-week span on record
Mario Draghi unveiled a revamp of quantitative easing to allow for more purchases of each euro member's debt as the weaker global outlook prompted a wholesale reduction of officials' economic forecasts through 2017.
"They don't quite get how to work with these markets, don't know what they're doing"
Chinese factories slow down significantly Wall Street plunged Tuesday after investors feared weak data from China, the world's second-largest economy, would lead to a global recession.
They won't anyway and it will cost us much more
(Publisher: J.D. Hayworth, fmr. Az Congress, is a new talking head???) Financial commentator talks about what to expect in the coming weeks after last week's wild ride on Wall Street. Also, will the Feds raise interest rates
Russian President Vladimir Putin has drafted a bill that aims to eliminate the US dollar and the euro from trade between CIS countries.
Ottawa (AFP) - Reeling from low oil prices, Canada fell into a recession in the first half of the year, government data confirmed Tuesday, putting Conservative Prime Minister Stephen Harper on the defensive in the run-up to October elections.
World stock indexes and oil prices slumped on Tuesday as weak Chinese data fueled worries about a slowdown in its economy, the world's second biggest, and sparked more market turmoil.
The slump that dragged the Standard & Poor's 500 Index to its worst month since 2012 is set to worsen, U.S. futures indicate, amid continuing concerns about the impact of China's slowdown on the global economy.
China has unveiled a slew of "confessions" from brokers and journalists as authorities struggled to contain the biggest stock market sell-off since 2008.
Witch Hunt Review
Options traders have never been so pessimistic on China's stock market, betting the government's renewed effort to prop up share prices is doomed to fail.
Last weekend, we explained why it really all comes down to the death of the petrodollar.
Having recently explained (in great detail) why QE4 (and 5, 6 & 7) were inevitable (despite the protestations of all central planners, except for perhaps Kocharlakota - who never met an economy he didn't want to throw free money at),....
My father, a New York financier, used to call dubious stocks or bonds, "Chinese paper." Last week, we saw a blizzard of Chinese paper, both in China and around the world.
One narrative we've pushed quite hard this week is the idea that China's persistent FX interventions in support of the yuan are costing the PBoC dearly in terms of reserves.
"The Donald" breathed a sigh of relief yesterday.