Protests are not uncommon in China. However, most protests have been in rural areas where farmers have had their land stolen by bureaucrats and property developers. The last few weeks have been different. Several large urban areas have seen protests against corruption. Please consider Wave of Unrest Rocks China A wave of violent unrest in [...]
In spite of all the yapping about banks not lending to small businesses, only 8% of businesses report getting loans is a problem. In contrast 25% say getting customers is the number one problem. An increasing number of owners cite rising inflation as a problem. Please consider Small business Optimism Dips Lower in May The [...]
ECB Governors are pouring on the sap once again today. Mario Draghi, likely the next ECB president opposes steps that aren’t "purely voluntary." The irony being there is no such thing at this point of a "pure voluntary" restructuring. Meanwhile Christian Noyer, warns that a default would mean "financing the entire Greek economy.” Emergency Session [...]
I keep repeating that those looking for "inflation" where by prices or by credit expansion, need to look at China, not the US. Please consider China’s Inflation Accelerates to 5.5% China’s inflation accelerated to the fastest pace in almost three years in May and industrial production rose more than estimates, sustaining pressure for a further [...]
In a Bloomberg video David Rosenberg, chief economist at Gluskin Sheff & Associates, says there is a 99% Chance of Another Recession by 2012. Rosenberg also talks about the outlook for the U.S. economy. Selected Quotes Bloomberg: How Certain are you that we may be headed for a recession Rosenberg: I think that by 2012, [...]