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Tyler Durden's picture

Gulf Markets Melting Down: Saudi Arabia Plunges 7%, Dubai Sold





Following the end of a horrible week for petroleum importers (not to mention shale producers) despite WTI briefly dipping under $40 (wasn't this supposed to be great news for the US economy?) we have the start of a just as ugly week for the Persian Gulf oil exporters, whose Sunday market open can be described as a continuation of last week's broad risk carnage, and where Saudi Arabia, until recently the region's best performing market, is now down 10% for the year and down 30% compared to 12 months ago.

 
Tyler Durden's picture

Saudi Arabia Faces Another "Very Scary Moment" As Economy, FX Regime Face Crude Reality





Over the weeks, months, and years ahead we’ll begin to understand more about the fallout from the death of the petrodollar and nowhere is it likely to be more apparent than in Saudi Arabia where widening fiscal and current account deficits have forced the Saudis to tap the bond market to mitigate the FX drawdown that's fueling speculation about the viability of the dollar peg. As Bloomberg reports, the current situation mirrors a "very scary moment" in Saudi Arabia’s history.

 
Tyler Durden's picture

Low Oil Prices Could Break The "Fragile Five" Producing Nations





Persistently low oil prices have already inflicted economic pain on oil-producing countries. But with crude sticking near six-year lows, the risk of political turmoil is starting to rise. There are several countries in which the risks are the greatest – Algeria, Iraq, Libya, Nigeria, and Venezuela – and, as we noted previously, RBC Capital Markets has labeled them the “Fragile Five.”

 
Pivotfarm's picture

Aug 19 - PBOC injects $48bn into China Development Bank





The central bank has injected new capital into the China Development Bank (CDB), which provides medium and long term financing to major national projects, in a bid to reinforce its capital adequacy.

 
Tyler Durden's picture

Cyanide Thunderstorms Feared As Mystery Deepens Around $1.5 Billion Tianjin Explosion





The story behind the deadly chemical explosion that rocked China’s Tianjin port last Wednesday continues to evolve amid fears that the public could be at risk from the hundreds of tonnes of sodium cyanide stored at the facility. Indeed, new samples show that the cyanide level in the water around the site is some 28 times the safety standard. It looks as though determining who actually owns Ruihai will be complicated by the fact that in China, it’s not uncommon for front men to hold shares on behalf of a company’s real owners. In an effort to pacify the country’s censored masses, party mouthpiece The People’s Daily said 10 people, including the head and deputy head of Ruihai had been detained since Thursday. Finally, initial estimates put the cost of the blast at bewteen $1 billion and $1.5 billion.

 
Tyler Durden's picture

How One Hedge Fund Is Betting Against The $1.2 Trillion Student Loan Bubble





On Monday, we got some color on Hillary Clinton’s $350 billion plan to make college more affordable. Students and former students across the country owe more than $1.2 trillion in college loans, and as Bill Ackman so eloquently put it earlier this year, "there’s no way they’re going to pay it back." Now, one Boston-based hedge fund is building a short position on what it says is "runaway inflation in post-secondary education."

 
Tyler Durden's picture

Why Obama's Favorite Student Debt "Relief" Program Will Cost Taxpayers $100 Billion





Did you take out a $245,000 loan to pay for your degree? Good news, the Department of Education wants you to know that "your payment could be as low as $0 a month!"

 
Phoenix Capital Research's picture

The Financial Media Was Wrong on Greece… and They're Wrong on the Next Crisis Too





Elements of the financial media are either unbelievably lazy or completely complicit in helping to maintain the illusion of success for the Centralized powers (large governments and Central Banks).

 
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