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I just had an "Epiphany" Did any/one/.. catch the Clowns on CNBS running for cover?
Valuations? China? ASS SUCKING? In a prolapsed way?
I am Admiral Kirk < Scotty give er all shes got...
Scotty: But Captain! I'm 72 YEARS OLD!!
WHY DO I STILL HAVE TO WORK?
WHAT ABOUT MY RETIRMENT PLAN? PENSION? 401K PLAN?
I GAVE IT EVERYTHING I COULD! We're running on air as we speak captain!
hahahahahaha... BTFD bitxez...
can Charles Ponzi be awarded the economics Nobel prize posthumous? This has been overdue anyway.
How often should we repeat this: there is no "Nobel prize in economics".
There is only "Swedish Central Bank prize in economics in memory of Alfred Nobel", in short called properly "Swedish Central Bank prize".
"Nobel prize in economics" is a totally false statement, exactly like statement that Federal Reserve Note is US dollar. And it doesn't change anything if 99.99% of society doesn't know that.
Actually, it's called The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel.
Wheras Central Bank ist not a correct translation of Riksbank. It's more like Bank of the Dominion of Sweden.
Everything happening rite now quiet bullish Gold - probably down 20 bucks today.....thx Blythe.
Au UP $10USD -- guess again!
All of the major ideological systems have now mutated or been contaminated to the point of bankruptcy. Individuals, businesses, governments and politicians need to replace notions of capitalism, communism and socialism, with the concepts of honesty, hard work and prioritization of projects and consumption.
It's almost surreal seeing the Chinese thumb their nose at municipal bonds. China possesses gargantuan foreign exchange reserves but it clearly is losing control over its people as they begin to exert their right to refuse the government's own paper.
Fiat in all its forms is being rejected everywhere as the acceptability of gold is broadening.
Disaffection with local governments? I wouldn't be surprised. But I think most Chinese have been going long silver and gold instead for quite awhile.
This is interesting. I'm long on China and own certificated shares of some select companies in the HKSE, but such is the barrage of conflicting reports out of China-watchers, it is really difficult to make much sense. This is hard data, and even if it is contrary to my own interests, I'm grateful for it.
The issue of NPLs (Non-performing loans to local governments) on the ledger of the 4 large commercial Chinese banks is probably underated, but the figures from analysts are wildly different to be reliable. As a single entity, the PRC cashflow is the key and I don't think they have reached anywhere near the danger point where they are spending far more than they are earning. And considering the spending is going into education and infrastructure, even with some spectacularly useless building projects, the long term outlook for China has not (yet) diminished. The "If you build it they will come" theory may not have worked in some areas, but they have in all the others and I think we're all waiting on the Chinese to start getting individually wealthy so we can sell our wares to them, this time as finished products, instead of raw.
libor + shibor looking stretched, the other ptoblem insurance spreads also blowing out. happening all at once. looking very much like a global liquidity crunch. alcoa goes bad 200+ tank on the dow. maybe a flash crash
Burn, Baby Burn! DISCO INFERNO!*
*(Official Theme Song of the Global Banking Cartel)
It is not the first time this year they can't sell the paper. But it is more due to real rates being negative, and bank liquidity drained by RRR hikes...
Still it is not good, but shit is contained, as usual...
I thought that prospectus was the menu of the day...
Next time they shouldn't put pictures of a dog on those and use pictures more related to finance! A PIG FOR EXAMPLE!
What local debt? The one accounting for 75% of the total (chinese gov. debt)?
Shit? x Fan?
Buy Italian, Greek, French, German and Chinese bonds. Sell gold and silver.
Bankrupt is when you can't pay your debt service. The US has $200b of income monthly from various tax collection sources, and app. $20 to $30b interest expense on their debt service. Doesn't sound like a bankruptcy candidate to me. But if it keeps on raising it's debt ceiling and spending wrecklessly, then it just might get there. Make that, it will get there.
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