Remember when the central bank of the United States worried about development in the, well, United States? Those days are gone. Presenting: China. From page 8 of Yellen's speech on "The Outlook, Uncertainty, and Monetary Policy":
As if The Federal Reserve's credibility was not already circling the drain faster than Kanye West's, San Francisco Federal Reserve President John Williams just dropped the ultimate tape-bomb of ignorance and flip-flopping...
Back in December, New York-based China Beige Book International released what they called a “disturbing” set of data that pointed to pronounced weakness in the Chinese economy.
When last we checked in on Djibouti, the tiny east African nation of 900,000 people that shares a border with lawless Somalia to the south, and is separated from war-torn Yemen by just 13 miles of water across the Bab el-Mandeb Strait, China had just announced that the country would play host to Beijing’s first overseas military outpost.
Nearly 5,000 miles from the Chinese capital, Djibouti is situated in a highly strategic, if exceedingly dangerous part of the world.
One week ago we demonstrated just how massive the second Chinese housing bubble when we showed the ridiculous move at the epicenter of China's latest scramble to reflate "animal spirits" in Shenzhen - one which has put even the recent Chinese stock market bubble to shame - as follows:
It appears that the Chinese Politburo has also noticed that it finds itself straddled with yet another unsustainable housing bubble, not only in Shenzhen, but also Shanghai, and all other Tier 1 cities...