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The Chinese are awesome are they not? I wish they were more spastic.
Closed dictatorship + inconsistent public announcements = Internal power struggle?
Pure politically based circlejerk. As in bad cop, good cop routines.
it's the reason i'm here. thought i would pass the connection along
Dennis Kneale's little en passant failed miserably and still Zero Hedge got a plug out of it. It couldn't have worked out any better.
I think Marla should get a raise for distracting him with the 'brutal day' bit. Kneale miscalculated how humorous it would be and fell flat on his face looking like a petulant, pale, young boy.
I hope he hasn't learned his lesson, and reads the NYmag piece and faces off with you guys in a fair forum. That would be precious...
hahaha Aus trade deficit deeper 'than expected' in May...
'Expected' by whom? Wish they'd name those cluefree economists and then we know who not to quote again.
Aus has not been hit by the recession ONLY b/c the government is front-ending our debt, handing out 'stimulus' and 'homedebtors grants' like there's no tomorrow (literally). (Meaning, they're running up debt at the front end of our Great Depression rather than like the US, halfway through it.)
So we're now the proud death rattle of the housing bubble, as house prices shot up again in response to the latest government handout renewed in June through December, and marginal 'buyer' morons commit to $500K of debt on the brink of a Depression, to gain $21K of housing grant. (Which goes straight onto the price anyway.)
It's gonna get UGLY here when the rising twins unemployment and the bond market force the government to cool it with the bank-and-builder freebies. Our Big Four (banks) are overleveraged to the gills and DEEP in RE/CRE.
There go the perks of holding ASX:WBC ( Westpac Bank)
WESTPAC expects to see increasing pressure on consumer loans as unemployment rises, chairman Ted Evans said in a letter to shareholders.
Mr Evans also said he expected loan growth to slow amid lower demand and as consumers and businesses deleveraged their balance sheets.
"It is expected that more customers will come under pressure as the effects of the slowing activity become more widespread," Mr Evans said.
"We are already seeing more pressure across our business customers and expect consumer stress to grow as unemployment rises."
Westpac also scrapped its retail shareholder benefits package, due to increasing administration costs and very low take-up of the benefits on offer.
The benefits package ended on June 30, the bank said.
The demise of the scheme, which offered Westpac retail shareholders discounted products and services, had been operating since 1998.
When you look at the range of data out of late, the only north bound stats were house prices and consumer confidence - figures that lean toward debt growth. All the south bound stats, job ads, construction, current account etc - the figures that create jobs and wealth - just weren't playing. So housing debt grows as does consumer confidence (where no child shall live without a plasma) head in one direction while all those stats that support and pay for debt head in the other. Can't wait for this rubber band to break.
Looks like the WSJ is getting it's head out of Murdoch's tukus and starting to actually do a bit of reporting again: http://tinyurl.com/magjud
With the calls for an audit of the Fed growing louder by the day, Washington & Wall St. might be getting a tiny bit nervous. Collusion only lasts so long, before two things happen: people realize just how badly they're getting screwed; action must be taken to restore the appearance of justice or fairness. As a cynic, I hope something deeper beyond those two things shakes up the fraud and manipulation in our markets/banking system. But, I'm not holding my breath, either.
Is this a bit tinfoil hat-ish or is it right on:
US Economic Collapse May Be Imminent -
I lifted it off Jesse site, which I normally like:
I have never heard of 'Arbitrary Vote'...anyone hear know anything about it?
New Ads Free Community Forum
Look out - Bloombergs on fire tonight (Australian time)
"Biggest Rally in Value Stocks Sends Bearish Signal to PNC, AXA" - The biggest quarterly rally in value stocks is a bearish sign to some of the largest money managers, who say it shows the equity market has relied on companies with the worst finances to fuel its rebound.
Money-losing companies in the MSCI World Value Index with the most debt climbed an average of 38 percent last quarter, compared with a 20 percent gain for the MSCI World Index, according to data compiled by Bloomberg. That pushed value stocks, or those trading at the lowest level relative to their earnings or assets, in the index up 22 percent, the biggest increase since at least 1995.
...and how long has ZH been banging on about this junk rally?
"China Allows Yuan Trade Settlement, Offers Tax Breaks" - China’s central bank allowed companies to undertake settlement of cross-border trade in the yuan and promised tax breaks, seeking to reduce the reliance of importers and exporters on the U.S. dollar.
Alls good in green shoot land. Better go water the astroturf.
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