Yesterday, when reporting on the latest development in China's ongoing under-the-table stealth nationalization-cum-bailout of insolvent enterprises courtesy of a proposed plan to convert bad debt into equity, we noted that while China has already managed to convert over $220 billion of Non-performing loans into equity, concerns - both ours and others' - remained.
Submitted by Lance Roberts via RealInvestmentAdvice.com,
Over the weekend, Sam Fleming with the Financial Times interviewed Boston Fed President Eric Rosengren about why the Fed is likely to tighten monetary policy sooner rather than later.
After the US Manufacturing PMI plunged to 7 year lows today, we thought it relevant to remind everyone just how robust the economy is by showing the 10 companies that have cut jobs so far in 2016.
The Fiscal Times has compiled a list of 20 companies - here are the top ten "fiction peddlers" ignoring President Obama's rhetoric...
1) National Oilwell Varco: 17,850
2) Wal-Mart: 16,000
3) Schlumberger: 12,500
4) Intel: 12,000
5) Halliburton: 10,200
We have reported for years that Russia and China have been doing everything they can to displace the use (and influence) of the US dollar.
The US of course, either oblivious or too arrogant to care, has continued to bring Russia and China together by annoying both equally with its incessant meddling. Recall that recently both China and Russia have had to warn the US about its insistence on flying reconnaissance planes too close to their borders.
Buy Gold As “Extremely Low-Risk Asset” – Rogoff Advice To Creditor Nations
Buy gold as it is an “extremely low-risk asset” is the advice of Professor Kenneth Rogoff to emerging market, creditor nation central banks including the People’s Bank of China (PBOC).