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Most cats bounce at least once when they die, but not this one: after CAT posted its first annual drop in retail sales in December of 2012, it has failed to see a rise in retail sales even once.
In the past few months, Citi's chief economist Willem "Gold is a 6000 year old bubble" Buiter, has been making increasingly more hyperbolic and grandose predictions about the future, which doesn't make them wrong.
As crazy as it sounds, the Saudis are going broke.
In writing about China yesterday, we emphasized how sooner or later the economy was going to unravel further, following on the heels of its disastrous market drop - and that China's difficulties were a direct result of the Western, central bank mod
Argentines will elect a new president on Sunday, and a major issue is whether the new leader will finally end the country's fight against New York hedge funds.
When the global economy is doing well, the amount of stuff that is imported and exported around the world goes up, and when the global economy is in recession, the amount of stuff that is imported and exported around the world goes down.
In 2015, a picture of a Chinese fruit vendor trading stocks with a laptop at his stall went viral on social media. The number of Chinese with margin trading accounts -- in which investors are extended huge amounts of credit to bet with -- had explo
Malaysia, Indonesia, Sweden, Norway, and ... New Zealand?
After a year suffering the economic consequences of the oil price slump, OPEC is finally on the cusp of choking off growth in U.S. crude output.
Since October 2014, the Swedish National Bank, also known as Riksbank has cut its interest rates below zero. That means that for well over a year the people of Sweden have been paying the banks to keep their accounts and credit cards accessible.
InterContinental revpar jumps worldwide except greater China, Whitbread stock brews up and the renminbi rises
Does China selling off US Treasuries mean no interest rate hike in the foreseeable future? Is the dollar in decline?
I thought the top news of the day was Lindsay Lohan announcing her candidacy for President of the USA, but the decline in iron and copper prices seemed more relevant.
"The European banks were too long holding onto the past and not realizing that this change is for good -- it's permanent," said Oswald Gruebel, a former chief executive officer of both UBS Group AG and Credit Suisse Group AG.
U.S. stocks declined as Morgan Stanley kicked off a busy week of corporate earnings with disappointing results, while a slowdown in Chinese growth sent commodities lower.
For all the dire warnings over China's retreat from U.S. government debt, there's one simple fact that is being overlooked: American demand is as robust as ever.
Thousands of austerity measures, dramatic cuts in incomes, incredible hikes in taxes. Five and a half years in deep recession. Three bailout agreements. And where do Greeks stand now?
BRITAIN faces DECADES of savage winters driven by freak changes in global ocean conditions and a weakening of the sun.
Late last month, India surprised 51 out of 52 economists when the RBI cut rates by 50bps.
The European Union has always been primarily a political project.
Countries around the world are selling their U.S. government debt holdings this year by the largest amounts seen since at least 2000.
Clear Signs That The Great Derivatives Crisis Has Now Begun
The warnings are getting louder. Is anybody listening?
China's Communist Party (CCP) has come in for some stark criticism this year.
PARIS - The Dow fell 50 points yesterday, halting an impressive bout of insanity.
"The trend in our projected net resources has continued to be negative," warns Treasury Secretary Lew forcing the administration to move up the deadline for the end of extraordinary measures from Nov 5th to Nov 3rd.
After two consecutive days of miserable Chinese econ data, when first imports and exports, and then wholesale deflation disappointed for one more month, overnight we got even more Chinese data this time on the "credi input end" when Beijing reported
After collapsing in August and unable to get up in September, October's Empire Fed bounced very modestly from -14.67 to -11.36 (but missed expectations for the 7th month of the last 8).
For the first time in 5 months, API has reported a third weekly inventory build in crude oil in a row. API reported a stunning 9.3 milion barrel build (against expectations of a 1.8 mm build) with Cushing rising 1.4mm barrels!
China's middle class has overtaken the United States to become the world's largest, Credit Suisse said Tuesday in its latest report on global wealth.
