Back in October, the latest credit impulse in China just rolled over and died.
Ahead of the actual news, MNI said “one source familiar with the data said new loans by the Big Four state-owned commercial banks in October plunged to a level that hasn't been seen for many years."
European Central Bank (ECB) head Mario Draghi is running out of options.
Back in 2012, the EU banking system was on the verge of collapse. At that time, various European banks were lurching towards insolvency as the senior most-asset on their balance sheets (EU member nation sovereign bonds) plunged in value.
As a whole, the EU banking system is leveraged at 26 to 1. At these levels, even a 4% drop in your asset values wipes out ALL equity.
Former Google CEO Eric Schmidt is to head the Pentagon’s new Innovation Advisory Board. The board will consist of 12 members that would be hand-picked by Defense Secretary Ashton Carter and Eric Schmidt. The cosy relationship between Google and the government is worrisome, according to Wikileaks founder and whistle-blower Julian Assange. Sputnik reports: On Wednesday, the Defense Department announced that former Google CEO Eric Schmidt will head the Pentagon’s new Innovation Advisory Board.
Via SchiffGold.com,
In his most recent Gold Videocast for SchiffGold, Albert K Lu interviewed John Rubino, founder of DollarCollapse.com. Rubino had a pretty compelling explanation for why there wasn’t a massive, sustained economic collapse a decade ago, and why he thinks it’s still lurking on the horizon.
In his latest note tited "The Calm before The Storm", Nomura's traditionally downcast Richard Koo is not too excited about the market's future prospects, in fact quite the opposite and makes the point that since QE was no game changer, not only is there no clear way out, but "the price for QE has yet to be paid."
What does that mean for risk assets: