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Excerpted from Doug Noland’s Credit Bubble Bulletin, Credit is not innately good or bad. Simplistically, productive Credit is constructive, while non-productive Credit is inevitably problematic. This crucial distinction tends to be masked throughout the boom period. Worse yet, a prolonged boom in “productive” Credit – surely fueled by some type of underlying monetary disorder – […]

Submitted by Jesse via Jesse’s Cafe Americain blog, “The crash has laid bare many unpleasant truths about the United States. One of the most alarming, says a former chief economist of the International Monetary Fund, is that the finance industry has effectively captured our government—a state of affairs that more typically describes emerging markets, and […]Read More

In his inimitable manner, Abraham Gulowitz unleashes 18 new pages of “all the charts you can eat” to expose the ugly reality of what is going on everywhere. Trust Busters… Market participants had penciled in stronger economies for 2016 and even a series of rate hikes by the Fed. Feeble world growth signals, the fallout […]

With China returning from the Spring Golden Week holiday, it is catch-up time for the Yuan (notably higher against a weakening USD) and Chinese stocks (significantly lower – though not as much as some might have expected given China ETFs). The PBOC strengthened the Yuan Fix by the most since the first week of November, […]

Despite the weakening of the Yuan, China exports collapses 6.6% YoY in January (massively missing the 3.6% increase expected). Imports continued their 15 month series of collapses with a 14.4% plunge (again drastically worse than the 1.8% increase expected). This pushed the trade balance to a record surplus CNY406bn. In Yuan terms it’s ugly… Both […]Read More

Submitted by Jeffrey St.Clair via Counterpunch.org, Poor ISIS. Try as they might, the men in black still can’t out-terrorize their enemies or, more pointedly, even their patrons. For the past three years, decapitations have served as the money shots for ISIS’s theater of cruelty. Then on New Year’s Day the Saudis upstaged ISIS by audaciously […]Read More

Minister for State for Petroleum, Ibe Kachikwu is obviously one man under pressure. He has been trying  to midwife an emergency meeting between OPEC members like Venezuela and Angola who are looking for desperate solution to the falling price of oil and richer producers like Saudi Arabia who will rather continue with the Kamikaze strategy […]

Nigeria Breweries Plc released its 2015 full year results showing profit after tax dropped by 10.5% to N35 billion. The company also reported that revenues also rose 10% to N293 billion compared to 2014 where revenue dropped by about 0.4%. For shareholders the result should bring some form of relief considering that its rival Guinness […]

Egypt is going through a currency crisis that is negatively affecting its economy. Just like Nigeria, the country has adopted protectionist policies such as pegging the Egyptian pounds keeping it “artificially strong” against the US Dollars. They have also introduced forex restrictions and higher tariffs all in a bid to contain demand for the green back. […]

The Governor of the Central Bank has vehemently refused to devalue the naira claiming that the black market rates represents a tiny fraction of the market and should be relied upon as a benchmark for the real value of the Naira. For those who have just started following the CBN Governor’s snarls about calls to […]

For the past two years, while largely nonchalant with broader price levels, the Fed has been warning about two particular asset bubbles: that of easy lending particularly in junk bond, and of a commercial real estate bubble. Following the recent rout which has seen the biggest HY selloff since the financial crisis, especially in the […]

Submitted by Mike Gipp of The World Complex Developing And Redeveloping Nanning, Guangxi Province Nanning is called the Green City in China. Unfortunately, having had dinner in one of those rooftop revolving restaurants, I can tell you it is not a beautiful city. From Qingxiushan looking south and west, one can see a huge swath […]