While some countries like Venezuela remain stuck with socialism, others are quietly transitioning from repression to openness. Uzbekistan is one of those countries. Though it still has a very long way to go, it is now transitioning from a command-and-control economy to a market-based economy, propelled by a wide range of reforms. To be clear, […]
Everybody knew it but it took a while to become official. In the case of overstated Chinese GDP figures, we now have confirmation from the Chinese state mouthpiece Xinhua that they have been made up for a long period of time, at least on the regional level. This is just short of the National Audit Office admitting GDP numbers are basically […]
Zhou Xiaochuan, governor of China’s central bank, told a meeting of Group of 20 finance ministers in Ankara that a stock-market bubble in his country had “burst,” according to Japan’s Taro Aso. Another official present at the talks said China had presented the country’s situation as a new normal. “It wasn’t enough,” Aso told reporters. […]
Paul Craig Roberts In The Matrix in which Americans live, nothing is ever their fault. For example, the current decline in the US stock market is not because years of excessive liquidity supplied by the Federal Reserve have created a bubble so overblown that a mere six stocks, some of which have no earnings commensurate […]
By Michael Snyder Did you see what just happened? The devaluation of the yuan by China triggered the largest one day drop for that currency in the modern era. This caused other global currencies to crash relative to the U.S. dollar, the price of oil hit a six year low, and stock markets all over […]
Paul Craig Roberts Over the last 15 months Ukrainians have paid for Washington’s overthrow of their elected government in deaths, dismemberment of their country, and broken economic and political relationships with Russia that cost Ukraine its subsidized energy. Now Ukrainians are losing their pensions and traditional support payments. The Ukrainian population is headed for the […]
Does it get any funnier than this? Well, arguably, we’ve already seen an even funnier episode from these financial “Wile E. Coyotes”. But let’s begin with a look at the most recent “botched operation” by the psychopaths. The political/economic terrorism against Russia began with the coup in Ukraine, which was fully and completely orchestrated by […]
The last 3 months have seen Russia’s “de-dollarization” plans accelerate. First Gazprom clients shift to Euros and Renminbi, then the UK signs currency swap agreements with China, then NATO ally Turkey cuts ties and mulls de-dollarization, Switzerland jumps in the currency swap agreements, and BRICS create their own non-US-based funding vehicle, and then finally this […]
Russia Could Crush the Petrodollar Russia threatened to dump its U.S. treasuries if America imposed sanctions regarding Russia’s action in the Crimea. Zero Hedge argues that Russia has already done so. But veteran investor Jim Sinclair argues that Russia has a much scarier financial attack which Russia can use against the U.S. Specifically, Sinclair says that if Russia […]
During the 2008 crisis, Fed has been printing tons of money and borrowed it out. Now if they increase the interest rate, how are people going to pay back this money? Without increasing rate already seemed like this money can’t be paid back. I think America is the biggest bubble in the history of man […]
