Meltdown

All The Latest Chinese News In Just 7 Bullets

(1) Incoming Jan-Feb data still choppy; (2) Our Synthetic Growth Index (SGI) likely down for Jan and Feb, after up Sep-Dec; (3) As China slows, no problem is too small for a new policy fix; (4) Housing: too many vacant units, in the wrong places, wrong size and wrong price.; (5) SOEs:  excess capacity, old, inefficient in most key China industries. (6) Equities:  recent rally welcome but markets still broken just when more equity financing is needed. (7) NPLs: from past bad decisions, rising sharply. 

9 Signs That 2016 Looks Ominously Like 2008 (Just Before The Crisis)

Given the financial establishment’s astonishingly short-term memory and capacity to make even bigger mistakes than ever before, we now find ourselves in a very similar position today. Once again, the financial system is in desperate condition. And the data is all there for anyone who cares to look.

Stockman Slams "Simple Janet"'s Incoherent Babble

We now have an absolutely clear idea of why the Fed is impaled on its own petard. At the end of the day, managed rates will prove to be the ultimate destroyer of capitalism. They transform financial markets from organizers and allocators of real capital and the savings of producers and workers into gambling casinos which fuel massive speculative bubbles.

Why Our Financial System Is Like The Titanic

The "unsinkable" global financial system is rushing headlong toward its encounter with the iceberg, while the passengers and crew remain supremely confident and unaware of the risks, risks that will only become "obvious" after the global financial system has broken in half and sunk to the bottom, destroying most of those who believed it unsinkable.

The Next Fukushima? Active Fault Line Discovered Directly Below Japanese Nuclear Power Plant

We now have the candidate for the "next Fukushima" -  one of the faults that run under the premises of Hokuriku Electric Power Co.’s Shika nuclear power plant in Ishikawa Prefecture can be reasonably concluded to be active, according to an evaluation compiled last Thursday by an expert panel at the Nuclear Regulation Authority. According to the Shimbun, the No. 1 reactor at the Shika plant may have to be decommissioned under the new nuclear regulatory standards, which ban the construction of important facilities above an active fault. The fault in question lies directly under the No. 1 reactor building.

Fukushima Five Years Later: "The Fuel Rods Melted Through Containment And Nobody Knows Where They Are Now"

:The fuel rods melted through their containment vessels in the reactors, and no one knows exactly where they are now... Tepco has been developing robots, which can swim under water and negotiate obstacles in damaged tunnels and piping to search for the melted fuel rods. But as soon as they get close to the reactors, the radiation destroys their wiring and renders them useless." 

China Goes Full "Minority Report", Creates "Pre-Crime" Program

Xi's "Tigers and Flies" campaign may have been reasonably effective when it came to rooting out corruption in the Party and the "crackdown" on "manipulators" might served to strike fear in the hearts of any Chinese who thought about shorting stocks last autumn, but that's not good enough for China. No, a true police state needs "pre-crime."

The Printing Press: A Great Way To Fool People

"The reason that we’re still here, when we really should have fallen apart based on how much debt there was out there, and various other measures of instability, is that a printing press has turned out to be a great tool for fooling people...but in the longer term gold is a beneficiary of the instability that necessarily flows from borrowing too much money"