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Wednesday, March 2, 2016

EYE on the World - Stocks Crash, Panic Engulfs #China



China Devalues Yuan as Stocks Crash


We  Told You So 


As much as we truly hate saying it, as well  as, warning folks, time and time again, for years and months on end - about the huge, looming Chinese meltdown- it was  as if we are just talking to ourselves. Nobody appeared   to listen.  




Conditions here mirror the US markets and economy of the 20's that led  to that  BIG crash. This one is going to be worse, much worse . Why? Just because the extremes are greater and it's a much larger bubble number-wise involving 1.5 billion Chinese people  (US was near 100 million). That's tells you it is potentially 15 times worse in terms of ramifications  based on  China's economy alone. 

OK  - now are you going to lend us your ears...



Why Singapore's Economy Is Heading For An Iceland-Style Meltdown





Well, the global financial system has basically been teetering since 2008,  AND "insiders" have been expecting the dark forces to arrive any day. Looks like the first stop along the way may be  Singapore?     


Mervyn King: The  Eurozone is Doomed   

Whatever boneheads thought that supra-constitutions were better  for economic stability or governing anything had more than a few loose marbles. Basically, such stupidity undermines both free enterprise and democracy , thereby destroying the fabric, inspiration and motivation of a society while concurrently leading to oppressive states that garner Soviet-style sluggishness and inefficiencies.

 Now, if you recall the Soviet system fell apart just for the reasons mentioned above  - meaning that it was a perfect time for the  Eurozone to copy their failed ideology ( so who needs a book to figure out common sense issues?  - More dumb!) 

Repeat after FFI folks, "Tear Down Those Walls Mr Gorbachev"  



Arab States Face $94 Billion Debt Crunch on Oil Slump, HSBC Says


​ 
How many businesses can withstand a drop in revenues of 50% or more and expect to survive? Few,  if any! With oil prices being down by that percentage, expect many of the resource based countries to start defaulting on their debt and thereby crashing the global banking system along with the stock markets. It will cascade!

It was all a house of cards built on an exuberant credit bonanza fueled by unprecedented low loan rates that was doomed from the start. Now here comes the payback - and it won't be pretty.

All things revert to the mean - that's the first  law of common sense, just ask Soros!

http://pwa2000.blogspot.ca/2016/02/hsbc-yikes-arab-states-going-broke.html


 


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