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  • Jakobsen Warns of Global Economic Vacuum
    By on February 28, 2014 | 1 Comment1 Comment  Comments
    Steen Jakobsen, chief economist at Saxo Bank in Denmark, sent an interesting email yesterday regarding China, Germany, the European debt crisis, and equity prices. Steen is one of the speakers at Wine Country Conference II, May 1-2 in Sonoma, California. What follows is from Steen, I dispense with ...
  • China, Copper and FCX Set To Fall Hard?
    By on February 26, 2014 | No Comments  Comments
    The Shanghai Index, Copper and Freeport McMoran (FCX) look to be forming large descending triangle patterns. If you are unfamiliar with this pattern please read about them here  Bottom line to this pattern, a break of support suggests a decline, the size of the triangle!   CLICK ON CHART TO ENL...
  • All The Home Prices In China
    By on February 26, 2014 | No Comments  Comments
    Reuters reports that efforts to slow credit growth and other measures taken by the Chinese government have finally succeeded in slowing the rate of growth in property values as new home prices in 70 major cities rose 9.6 percent in January from a year ago, down from 9.9 percent the month prior and...
  • China Starts Power Move Against US Dollar?
    By on February 25, 2014 | No Comments  Comments
    In order for our current level of debt-fueled prosperity to continue, the rest of the world must continue to use our dollars to trade with one another and must continue to buy our debt at ridiculously low interest rates.  Of course the number one foreign nation that we depend on to participate in o...
  • China: Manufacturing Deteriorates At ‘Moderate ...
    By on February 24, 2014 | 1 Comment1 Comment  Comments
    The global slowdown continues. Don’t worry, the slowdown is at a “moderate pace”. The HSBC Flash China Manufacturing PMI shows China business conditions deteriorate at moderate pace in February. Key points Flash China Manufacturing PMI™ at 48.3 in February (49.5 in January) Se...
  • More Negative Economic News From Asia
    By on February 21, 2014 | 1 Comment1 Comment  Comments
    Asian stocks were down last night on the back of more dismal news from the world’s second and third largest economies. Manufacturing activity in China, the world’s second largest economy, declined to a seven-month low in February. The HSBC PMI manufacturing index, which was already under the 50...
  • China Fooled The World (But It Cannot Last)
    By on February 21, 2014 | 1 Comment1 Comment  Comments
    Steen Jakobsen, chief economist at Saxo Bank emailed a pair of interesting links on the explosion of investment and debt in China. First consider the BBC report How China Fooled the World by Robert Peston.  Robert Peston travels to China to investigate how this mighty economic giant could actuall...
  • What Blows Up First? Part IV: China
    By on February 21, 2014 | 1 Comment1 Comment  Comments
    To Westerners, China has always been a mystery. The huge population of very smart, hard-working people. The succession of unfamiliar, authoritarian governments. The sense that they’re playing the long game while we’re obsessed with quarterly reports – and that they’re laughing at our naivet...
  • Japan: GDP and Exports Seriously Miss Expectations
    By on February 21, 2014 | 1 Comment1 Comment  Comments
    The huge string of unexpectedly sour economic data continues to pour in. Add Japan to the spotlight. The BBC reports Japan’s Quarterly Growth Disappoints Ahead of Sales Tax Hike.  Japan’s economy grew less than expected last year, despite forecasts it would benefit from a jump in spend...
  • China: What Bank Share Prices Tell Us About Growth?
    By on February 18, 2014 | No Comments  Comments
    Tom Holland had an interesting piece in the South China Morning Post three weeks ago in which he discusses the low valuations of Chinese banks. About a decade ago, if I remember correctly, Chinese banks were trading between three and four times book. Those valuations have dropped considerably s...
  • 20 Signs That The Global Economic Crisis Is Starting ...
    By on February 18, 2014 | No Comments  Comments
    If you have been waiting for the “global economic crisis” to begin, just open up your eyes and look around.  I know that most Americans tend to ignore what happens in the rest of the world because they consider it to be “irrelevant” to their daily lives, but the truth is tha...
  • Is Market Problem Really EM Or Slowing US Economy?
    By on February 7, 2014 | No Comments  Comments
    The consensus opinion is that the catalyst for the downturn in the U.S. market so far this year has been the problem the Fed’s tapering is creating in emerging markets. But emerging markets have been struggling for three years and it has certainly had no effect on the bull market in the U.S. But ...

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