Over the last year, as Turkey's 'sultan-for-life' Recep Tayyip Erdogan has increased his dictatorial powers, so the nation's "misery" has increased to record highs. Soaring inflation (amid a collapsing currency) and stubbornly high unemployment have combined with government crackdowns to see increasingly active protests in the streets.
Authored by Alasdair Macleod via The Mises Institute,
Could Bitfinex, the world's largest, Hong-Kong based cryptocurrency exchange, be headed for a Mt. Gox-style collapse? It's starting to look that way.
It seems Kyle Bass' warning was extremely timely. The deleveraging of China's $4 trillion shadow banking system just accelerated massively as Bank Wealth Product Issuance crashes 15% month-over-month. With stocks and bonds already plunging, commodities joined the ugliness tonight with Dalian Iron Ore limit down (8%) at the open (not helped by tumbling auto demand).
As Bloomberg reports, China April Bank Wealth Product Issuance Falls 15% M/m
Authored by Kevin Muir via The Macro Tourist blog,
The other day, fabled hedge fund manager Paul Tudor Jones made headlines when he issued a bold warning to Janet Yellen & Co. (from Bloomberg):