5 Charts
Evergrande owes over $300 billion – to banks and non-bank financial institutions, domestic and international bond holders, suppliers and apartment buyers. It has bank borrowings of $90 billion, including to Agricultural Bank of China, China Minsheng Banking Corp and China CITIC Bank Corp. (reports have 128 banks with exposure). Thousands of suppliers are on the hook for $100 billion.
These types of situations generally prove worse than even the more bearish analysts fear. Assume ugly and messy.
Now that every financial game in America has been rigged to benefit the few at the expense of the many, trust and credibility has evaporated like an ice cube on a summer day in Death Valley.
The next, much bigger test, is dead ahead with the SPY, which is vastly more important:
FEEDWell, there’s no doubt that the idea to short Brazil by way of EWZ has turned into a roaring success. I’d say that, in the weeks ahead, there’s way, way more to go.
GAFAM, short for Google, Apple, Facebook, Amazon and Microsoft, are not only commercial tech giants, but also some of the most active contributors to open source projects on GitHub. As our chart indicates, not even open source veterans can hold a candl…
I was wrong about Sell Rosh Hashana, Buy Yom Kippur. I thought it wouldn’t work this year. I was wrong. When it comes to Wall Street religion, and my analytical opinion, religion wins. It’s not about logic. It’s not about facts. It’s religion! For the …
September 17 marks Constitution Day in the United States and recognizes the adoption of the United States Constitution and those who have become U.S. citizens. September 17, 1787 was the day that the document was signed, before being ratified in 1788 a…
Monetary policy can be implemented through outright purchases or sales of securities, which permanently changes the size of the Federal Reserve’s System Open Market Account (SOMA) portfolio.
After years of resisting, what finally pushed me over the edge and into crypto was my disgust at gold’s behavior. Precious metals should be thriving right now. Precious should be where the smart money goes. But, nope, it has sucked out loud f…