Real estate

Tyler Durden's picture

Guest Post: Stanley Fischer Speaks - More Drivel From A Dangerous Academic Fool





With every passing week that money markets rates remain pinned to the zero bound by the Fed, the magnitude of the financial catastrophe hurtling toward main street America intensifies. When the next financial bubble crashes it can only be hoped that this time the people will grab their torches and pitchforks. Stanley Fischer ought to be among the first tarred and feathered for the calamity that he has so arrogantly helped enable.

 
Tyler Durden's picture

Frontrunning: August 31





  • Hilsenrath: Fed Appears to Hold Line on Rate Plan (WSJ)
  • Europe, Asia stocks set for worst monthly drop in three years on China, Fed (Reuters)
  • Beijing abandons large-scale share purchases (FT), if only for a few hours
  • China’s Next Problem: Paying for Its Stock-Market Bailout (WSJ)
  • Crises Put First Dents in Xi Jinping’s Power (WSJ)
  • Man Group’s China Chief Said to Assist Police in Probe (BBG)
 
testosteronepit's picture

It Gets Even Uglier In Canada





Businesses get “crunched” in the Oil Patch, consumers lose it, indexes hit Financial Crisis levels. 

 
Tyler Durden's picture

The End Of "The Permanent Lie" Looms Large





For the moment, to paraphrase Alexander Solzhenitsyn, the “permanent lie [has become] the only safe form of existence”.

But the world cannot postpone, indefinitely, dealing decisively with the economic, resource management, social and political challenges we face.

 
Tyler Durden's picture

Yuan Strengthens Most Since March, China Unveils New Bailout Source After Rescue Fund Runs Out Of Fire-Power





Update: China readies new bailout mechanism - pooling CNY2 Trillion of Pension funds for "investment"

A busy night in AsiaPac before China even opens. Vietnam had a failed bond auction, Japanese data was mixed (retail sales good, household spending bad, CPI just right), Moody's downgrades China growth (surprise!), China re-blames US for global market rout, and then the big one hits - China's bailout fund needs more money (applies for more loans from banks) - in other words - The PBOC just got a margin call. China margin debt balance fell for 8th straight day (although the short-selling balance picked up to 1-week highs). China unveiled some economic reforms - lifting tax exemption and foreign real estate investment rules. PBOC fixesds the Yuan 0.15% stronger - most since March, but even with last night's epic intervention, SHCOMP looks set for its worst week since Lehman.

 
Tyler Durden's picture

The Great Wall Of Money





Since the GFC, 'The Great Wall of Money' that Bretton Woods II has furnished via its vendor-financing relationship, has masked the deleveraging of our world economy. The Great Wall is about to collapse and fall.

 
Tyler Durden's picture

Margin Calls Mount On Loans Against Stock Portfolios Used To Buy Homes, Boats, "Pretty Much Everything"





 

"In a securities-based loan, the customer pledges all or part of a portfolio of stocks, bonds, mutual funds and/or other securities as collateral. But unlike traditional margin loans, in which the client uses the credit to buy more securities, the borrowing is for other purchases such as real estate, a boat or education..." The result was "dangerously high margin balances,' - the products became “the vehicle of choice for investors looking to get cash for anything.” Mr. Sica and others say the products were aggressively marketed to investors by banks and brokerages.

 

 
Tyler Durden's picture

HFTs Are Overheating: CenturyLink Reports "Catastrophic" HVAC Failure At NJ2 Data Center, Starting "Safe Shut Down"





If today's ridiculous move is the kind that no retail investors would chase, it is precisely what HFTs around the globe love: nothing but momentum, momentum, momentum. In fact, HFTs are trading so much, they are literally overheating!

 
Tyler Durden's picture

Aggressive Chinese Intervention Prevents Another Rout, Sends Stocks Soaring 5% In Last Trading Hour; US Futures Jump





After a 5 day tumbling streak, which saw Chinese stock plunge well over 20% and 17% in just the first three days of this week, overnight the Shanghai Composite was hanging by a thread (and threat) until the last hour of trading. In fact, this is what the SHCOMP looked like until the very end: Up 2.6%, up 1.2%, up 2.8%, up 0.6%, up 2%... down 0.2%. And then the cavalry came in: "Heavyweight stocks like banks and insurance companies helped pull up the index, and it’s possibly China Securities Finance entering the market again to shore up stocks," Central China Sec. strategist Zhang Gang told Bloomberg by phone. Net result: the Composite, having been red just shortly before the close, soared higher by 156 points or 5.4%, showing the US stock market just how it's down.

 
Tyler Durden's picture

China & The Return Of The "Yellow Peril" - The Muddled Economics Of Scapegoating





Too big to control, too volatile to be predictable, and too full of contradictions to achieve stability, China is a society that is on the edge of coming completely unglued. And so, appealing to the typical American conceit that nothing that ever happens to us is our own fault, scapegoating is a reflection of widespread economic ignorance. For the reality is that the policies of our own rulers limn those of the Chinese: pump-priming the currency, flooding the US economy with money, and creating massive bubbles is something they learned from us. And those policies are having the same effect here as they are having in China.

 
Tyler Durden's picture

1929 And Its Aftermath - A Contra-Keynesian View Of What Really Happened





A half-century ago, America - and then the world - was rocked by a mighty stock-market crash that soon turned into the steepest and longest-lasting depression of all time. Those who ignore the lessons of history are doomed to repeat it - except that now, with gold abandoned and each nation able to print currency ad lib, we are likely to wind up, not with a repeat of 1929, but with something far worse...

 
Reggie Middleton's picture

Reggie Middleton's Prognosticated Market Crash and False Positives in Interest Rate Raise Promises





Not only is the equity market going to crash (after a dead cat bounce) the property market is about to pass out pain like you won't believe.

 
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