Hong Kong Dollar De-Pegging Risk Spikes As Yuan Slides, China Stocks Drop To 2-Year Lows
Submitted by Tyler Durden on 01/13/2016 - 22:22
Chinese stocks are down over 20% from Dec highs at 2-year lows, Offshore Yuan is tumbling once again, and Hong Kong Dollar is under severe pressure (with significant de-pegging risk once again).
How China Almost Ran Out Of Physical Dollars
Submitted by Tyler Durden on 01/13/2016 - 22:15
As WSJ reports, a banker from Industrial & Commercial Bank of China "said the number of people wanting to change yuan for dollars has increased significantly during the past three weeks—a period during which the Chinese currency has declined about 2%." Over the weekend for instance, "ICBC received an urgent notification from China’s central bank warning of a dollar shortage."
If You Don't Agree With Obama You Are "Peddling Fiction"
Submitted by Tyler Durden on 01/13/2016 - 21:45
Prosperity is not complicated. People figured out thousands of years ago that if you wanted to do well, you had to produce more than you consumed. But the American system is the exact opposite, favoring those who recklessly borrow and spend, rather than those who work hard and responsibly save. The President of the United States boldly accused everyone who doesn’t share his view as just making things up. In his words, “Anyone claiming that America’s economy is in decline is peddling fiction.” This is an extraordinary (and delusional) statement.
Last Bubble Standing
Submitted by Tyler Durden on 01/13/2016 - 21:15
EM debt bubble... emaciated, FX Carry... crucified, Crude...crushed, High yield bonds... burst, Chinese equities... blown, Trannies... trounced, Small Caps... slammed, Biotechs... busted, and FANGs finally FUBAR! But there is one big (very big) bubble left in the world that no one is talking about, and a rather large liquidity-busting pin beckons...
Wednesday Humor: "This Is Why Obama Is Bullish On The Economy"
Submitted by Tyler Durden on 01/13/2016 - 20:57
Minimum Wage Misunderstandings: Incompetence Or Dishonesty
Submitted by Tyler Durden on 01/13/2016 - 20:45
"It is incompetence or dishonesty for my fellow economists to deny these two effects of minimum wages: discrimination against employment of low-skilled labor and the lowering of the cost of racial discrimination."
Q4 Will Be The Worst U.S. Earnings Season Since The Third Quarter Of 2009
Submitted by Tyler Durden on 01/13/2016 - 20:18
According to Bloomberg, on a share-weighted basis, S&P 500 profits are expected to have dropped by 7.2% in 4Q, while revenues are expected to fall by 3.1% This would represent the worst U.S. earnings season since 3Q 2009, and a third straight quarter of negative profit growth.
Correlation Or Causation: How The Fed Helped Create The Global Oil Glut (In 1 Simple Chart)
Submitted by Tyler Durden on 01/13/2016 - 19:45
Correlation or Causation?
Does The U.S. Have A Middle East Strategy Going Forward?
Submitted by Tyler Durden on 01/13/2016 - 19:20
Senior-level sources in numerous Middle Eastern governments have privately expressed bewilderment at recent and current U.S. government strategies and policies toward the region. But a closer examination of U.S. policies, now almost entirely dictated by the Obama White House, shows no cohesive national goals or policies exist, but rather an ad hoc set of actions and reactions, which are largely dictated either by ideological positions, ignorance, whim, or perceived expedience.
Tanker Rates Tumble As Last Pillar Of Strength In Oil Market Crashes
Submitted by Tyler Durden on 01/13/2016 - 18:55
If there was one silver-lining in the oil complex, it was the demand for VLCCs (as huge floating storage facilities or as China scooped up 'cheap' oil to refill their reserves) which drove tanker rates to record highs. Now, as Bloomberg notes so eloquently, it appears the party is over! Daily rates for benchmark Saudi Arabia-Japan VLCC cargoes have crashed 53% year-to-date to $50,955 (as it appears China's record crude imports have ceased).
In Latest Embarrassment For Obama, Iran Releases Footage Of Arrest, Apology Of 10 U.S. Sailors
Submitted by Tyler Durden on 01/13/2016 - 18:44
Markets In Freefall: Stocks Extend Worst Ever Start To Year
Submitted by Tyler Durden on 01/13/2016 - 18:34
"Very Worrisome Signal For Fed Credibility" - Former Fed President Trolls Federal Reserve
Submitted by Tyler Durden on 01/13/2016 - 18:33
The Aftermath Of US Intervention: What The "Arab Spring" Looks Like 5 Years Later
Submitted by Tyler Durden on 01/13/2016 - 17:25
Post-Baathist Iraq is rife with sectarian discord, a post-Assad Syria would likely be an even bloodier free-for-all than it already is, and post-Gaddafi Libya is a failed state with two governments each claiming legitimacy. These types of environments are exploitable by extremists eager to capitalize on the chaos by seizing resources and, ultimately, power.
