On Monday, we brought you “Saudi Default, Devaluation Odds Spike As Mid-East Careens Into Chaos,” in which we outlined the jump in riyal forwards and widening of CDS spreads that Riyadh witnessed in the aftermath of the kingdom’s move to cut diplomatic ties with Iran.
Submitted by Jim Quinn via The Burning Platform blog,
This week, many German citizens were appalled to hear the details of what allegedly occurred on New Year’s Eve in Cologne.
According to eyewitness accounts and a number of apparent victims, hundreds of “Arab or North African” men engaged in coordinated sexual assaults and robberies across Germany with attacks reported in Cologne, Hamburg, and Stuttgart.
Chinese stocks have retraced 50% of their overnight losses following the lifting of the circuit-breaker rule. China FTSE-A50 Futures trading on SIMEX are up over 250 points, trading at the highs of the day but for some context, the index is still down 14% from post-Christmas highs.
What happens when China opens? What would you do with a stock market trading at 64x P/E and as fragile as it has been proved to be?
Submitted by Charles Hugh-Smith via OfTwoMinds blog,
This week I am addressing themes I see playing out in 2016.
A number of systemic, structural forces are intersecting in 2016. One is the end-game of debt-fueled "growth."
We can summarize the official "solution" to the Global Financial Meltdown of 2008 in one line: borrow and blow trillions--of yen, yuan, dollars, euros, reals, you name it.