Posts Tagged ‘Banks’
The Dilemma Facing China Is Truly Awful
As has been the case since Monday’s sell-off, there is an attempt to try to look on the bright side of the virus headlines. Chinese officials are spreading the word globally that things are under control and that other country should not be closing their borders to China, in line with the WHO recommendations that…
Coronavirus Triggers “Biggest Shock” To Oil Markets Since Lehman Crisis
Update: The Telegraph’s Ambrose Evans-Pritchard warned that the collapse in Chinese oil consumption is “the biggest shock to oil markets since the Lehman crisis.” Evans-Pritchard said the plunge in consumption could be between three to four million barrels per day, adding that this amount is twice UK’s North Sea oil output. We noted earlier (see below), OPEC+ couldn’t come to…
China Bloodbath: Stocks Crash; Oil, Iron Limit Down Despite Emergency PBOC Intervention, Rate Cuts
previewed on Friday and again earlier today when we noted the latest trades in China’s A50 futures… … China’s reopening from the long Lunar New Year holiday was set to be ugly, and sure enough with Chinese stocks resuming trade at 9am on Monday, a wave of selling was unleashed culminating in nothing short of a bloodbath…
Coronavirus And The “Unsinkable” Titanic Analogy
Unthinkable doesn’t mean unsinkable. As we all know, the “unsinkable” Titanic suffered a glancing collision with an iceberg on the night of April 14, 1912. A half-hour after the iceberg had opened six of the ship’s 16 watertight compartments, it was not at all apparent that the mighty vessel had been fatally wounded, as there was…
Fed Policy And The Wuhan Coronavirus
When all you have is a hammer, everything looks like a nail. Abe Maslow, the same fellow who developed the “hierarchy of needs” paradigm in human psychology, popularized that phrase to warn scientific researchers about the perils of using tools inappropriate to the task at hand. It is an especially relevant observation when it comes to…
STAGGERING GLOBAL DEBT OF $253 TRILLION IS A DISASTER WAITING TO HAPPEN
Global debt has reached a staggering $253 trillion. This is a disaster waiting to happen, as the world’s total debt surged by some $9 trillion in the first three quarters of 2019, according to data from the Institute of International Finance. That’s a terrifying 322% of its GDP; and a record high. As Axios points out, in times…
Schiff On ‘The Bubble’: “It’s Only A Matter Of Time Before The Whole Thing Implodes”
Vioa SchiffGold.com, Everybody knows that the 2008 financial crisis was caused by “deregulation” and “greed,” right? Except that it wasn’t. A film titled The Bubble offers a non-partisan, critical examination of the policies and events that led to the biggest crash since World War II. Produced by Jimmy Morrison and co-written by Tom Woods, the film features a…
Doug Casey On The Destruction Of The Dollar
“Inflation” occurs when the creation of currency outruns the creation of real wealth it can bid for… It isn’t caused by price increases; rather, it causes price increases. Inflation is not caused by the butcher, the baker, or the automaker, although they usually get blamed. On the contrary, by producing real wealth, they fight the effects…
Second Bank Run In Two Weeks As China’s Banks Are Caught In A Self-Destructive “Doom Loop”
Three weeks ago we reported that China’s Henan Yichuan Rural Commercial Bank, just outside the central Chinese city of Luoyang, was the latest small-to-medium Chinese bank to suffer a vicious bank run as long lines of depositors filled out its branches demanding their money, amid a rumor that the bank was going under. The bank…
Banks, Real Estate, and Insurance Companies Crush The People
The Bible has a lot to say on the subject of injustice. We know that God is in favor of justice; we know that He is against injustice, even in the most basic terms. The writer of Proverbs mentions this: “The LORD detests differing weights, / and dishonest scales do not please him” (Proverbs 20:23).…