For years I have been writing about how our government has been hijacked from the people and how special interests have been manipulating the media to fulfill the agenda of the Military Industrial Complex. You can call it the Military Industrial Corporate Complex or any new-age nuance, but it is still the thing that Dwight President David Eisenhower described in his last addresses to the nationm
"They just won't let the scales balance... it is a rampant narcissistic megalomania that somehow some guy in a air-conditioned office can best repliacte the free market and centrally plan our affairs... Their starry-eyed pollyanna-ish do-goodery never seems to pan out."
As those who frequent these pages are no doubt aware, NPLs at Chinese banks are rising.
Here’s a kind of 30,000 -foot view from RBS’ Alberto Gallo:
Via SouthBay Research,
Whether measured in volumes (container throughput via Hong Kong) or in dollars (US Import/Exports), the pain is the same: 16 months of steady collapse in global trade.
The pain is getting worse.
More containers are leaving the US and going back to China empty. From the Port of Long Beach (a major US/China trade port):
The Senate and House passed the spending bill this week, which the President signed into law on the same day. Embedded in the law is a provision to lift the 40-year old crude export ban. The lifting of the crude export ban is a historic milestone, but seemingly less relevant for US E&Ps, Midstream and Oilfield Services as compared to a year and a half ago when WTI-Brent spreads were close to $9.00/bbl vs. the current spread of $0.80/bbl.