Exclusive: President Obama seems so scared of offending the Saudis and their Israeli allies that he will tolerate almost any outrage, including Saudi Arabia’s mass beheadings and/or shootings of the regime’s enemies including a Shiite political leader who dared criticize the monarchy, writes Robert Parry. By Robert Parry As the New Year dawns, the neocons and…
Some sobering words about China's imminent crisis, not from your friendly neighborhood doom and gloom village drunk, but from BofA's China strategist David Cui.
Excerpted from "2016 Year-Ahead: what may trigger financial instability", a must-read report for anyone interested in learning how China's epic stock market experiment ends.
A case for financial instability
Submitted by Michael Lebowitz via 720Global.com,
“It’s self-defeating to use the wrong monetary policy.” -Ben Bernanke
Late last month in “This Is Canada's Depression: Surging Crime, Soaring Suicides, Overwhelmed Food Banks ‘And The Worst Is Yet To Come,’” we took a sweeping look at what is truly pitiable situation in Alberta, the heart of the Canadian oil patch.
Roughly a third of provincial revenue is derived from “resources” which means that when oil prices collapsed, the territory plunged into recession. Oil and gas investment fell by more than a third in in 2015 and in its latest fiscal update, the government said it fully expects the weakness to carry into 2016.
Despite the biggest liquidity injection (CNY130bn) in 4 months, it appears Kyle Bass' top trade remains well on target as Offshore Yuan plunges, underperforming Onshore Yuan despite the largest Fix devaluation in two months. In a word - it's chaos in Chinese markets. The Shanghai Composite looks to be opening down 3% - extending yesterday's losses (beyond the US session's ADR's move). What a mess.
First: PBOC devalues the Yuan fix by the most in 2 months...