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Tag Archives: Global Economy

“Someone Is Blowing Up”: RBC Warns China-Induced Unwinds Are Escalating

"Something is off," warns RBC's head of cross-asset strategy Charlie McElligott in the introduction to his latest market noting that the swing in US fiscal policy optimism is coming at a critical time as the China's liquidity tightening is spooking the reflation story. SUMMARY: Movement on US fiscal policy is currently driving US rates and equities higher, counteracting the tremendous negative implications of this ‘Chinese tightening / deleveraging’ story and the impact this is having upon...

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Alibaba’s Jack Ma Sees “Decades Of Pain Ahead” Thanks To Internet Disruption

'Adapt or die miserable' appears to be the message from Chinese billionaire Jack Ma. The Alibaba founder warned that people should prepare for decades of social upheaval and pain as the internet disrupts the global economy. “In the next 30 years, the world’s pain will be much greater than its happiness,” Ma said at an entrepreneurial conference in Zhengzhou, China. “Social conflicts over the next 30 years will hugely impact every industry.” As RT reports, Ma says the world must radically...

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IMF Drops Pledge To “Resist All Forms Of Protectionism”

One month after a startling reversion by the G-20 finance ministers and central bankers, who during their latest meeting in Baden-Baden dropped a decade-long tradition of rejecting protectionism and endorsing free trade, pressured by Trump's delegate Steven Mnuchin, the IMF has done the same, and according to a communique from the IMF’s steering committee released on Saturday in Washington echoed the G-20 reversal, and said that officials “are working to strengthen the contribution of trade...

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President Trump Is The Worst Possible Thing For Putin: “You Just Don’t Know What To Expect From Him”

Authored by Mac Slavo via SHTFplan.com, Whether you’re talking about politics, war, or economics, you will find no shortage of commentary from people who claim to be giving you sound advice, but are really just telling you what you want to hear. Or worse, their opinions are based on what they so desperately hope to be true. That’s why the best prognosticators are the people who aren’t infected with wishful thinking. They’re able to confront the truth, no matter how painful that truth is. One...

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Is Trump About To Flip Again: Ryan Says “TTIP Good For Global Order”

From Obamacare to NATO, and from Ex-Im Bank to Chinese currency manipulators, President Trump has shown he is comfortable changing his mind 'bigly'. Today's exuberant support for "TTIP as good for global order," from Speaker Ryan, following VP Pence's meetings in Japan, raises questions about whether Trump's executive order withdrawing from the Trans-Pacific Partnership (TPP) free trade agreement is the next big flip-flop. During his presidential campaign, Trump often criticized the TPP...

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UBS: “The Current Market Configuration Is The Opposite Of February 2016”

Last February, as Chinese stocks and the Yuan were crashing every day, sending the S&P tumbling and government bond yields crashing to record lows, in the process aborting the Fed's first attempt to hike rates, volatility was soaring and confidence in the economy was in the dumps: in short, the bottom appeared like it was about to fall off. And then, as if by magic, the Shanghai Accord happened, a few central bankers and finance ministers sat down behind closed doors and ironed out an...

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China Just Flooded Its Economy With A Record Amount Of New Debt

China vowed that this time it was serious about finally deleveraging its economy. Once again, it lied. First, a quick tangent: as a reminder, when it comes to the global economy, increasingly more analysts are realizing that just one number truly matters: that of the global credit impulse, which as we cautioned for the first time two months ago, had recently turned negative, mostly as a result of the recent deceleration in China's credit creation. Then earlier this week, in a follow up...

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From “Dissensus” To “Democrazy”: A Warning From Deutsche Bank

Last October, Deutsche Bank's credit derivatives expert Aleksandar Kocic, one of the best stream-of-consciousness, James Joyceian writers among the Wall Street sell-side, penned what was at the time the best summary why the existing politcal system was fracturing with every passing day. As Kocic put it, the most likely origin of the anti-global sentiment expressed in the past year, in the UK with Brexit and in the US with Donald Trump - incidentally, Kocic wrote his essay three weeks before...

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“If All Goes According To Plan”: What Global Central Bank Normalization Would Look Like, In One Chart

AS a result of countless failures by central banks to normalize monetary policy over the past 7 years, the market - especially bonds and rates - has become openly cynical and outright skeptical regarding the possibility of a successful renormalization of policy by global central banks. After all, Japan has been trying to do that for over 30 years and has yet to succeed; the ECB hiked in 2011 resulting in near collapse of the Eurozone. Ironically, the recent Trumpflation trade - which few...

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Why China Unexpectedly Hiked Rates 10 Hours After The Fed

As we reported on Wednesday evening, something interesting took place on Thursday morning in Beijing: in a case of eerie coordination, China tightened monetary conditions across many of the PBOC's liquidity-providing conduits just 10 hours after the Fed raised its own interest rate by 0.25% for only the third time in a decade. The oddly matched rate hikes, prompted Bloomberg to think back to the mysterious "Shanghai Accord" of February 2016, which took place during the peak days of last...

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