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by Phoenix Capital Research
Japan’s Nikkei, after rallying over 70% since November, just collapsed 11% in less than two days. Looking at the chart, it’s pretty clear where this thing is heading: the same as the NASDAQ in 2000. This is the problem with economic policy that focuses on pushing stocks higher: eventually the collapsing economy comes home to roost and stocks implode. We saw this in 2000 and 2008. We’re currently [...]  The debtors’ merry-go-round - Interactive overview of debt in the world’s biggest economies http://www.economist.com/blogs/graphicdetail/2012/09/daily-chart-10
China’s Economy “Bottoming Out”? – Not So Fast! While China’s equity index continues to plumb new depths, the macro data of the past two weeks has been the crutch for US equity bulls losing faith in the fiscal cliff negotiations - growth is up, investment is up, and inflation is down – with analysts hailing the news as evidence that the [...] Back in early 2011, even as the global economy was at best flatlining, the one goalseeked explanation to justify a levitating stock market (which was rising solely due to the short-term effect of transitory QE2 liquidity), was soaring corporate profitability (which only lasted as long as companies could trim some residual SG&A fat; they have now cut into the bone in terms of layoffs). This time around, with corporate margins having peaked, [...] by AP BERLIN (AP) — Germany’s government cut the country’s 2012 growth forecast Wednesday due to a faltering global economy and Europe’s debt crisis, sparking fears that the region’s largest economy could tip into recession. Following what is believed to have been a contraction in economic activity in the fourth quarter of 2011, Economy Minister Philipp Roesler said the government had reduced Germany’s growth forecast for this year from 1 percent to 0.7 [...] MPettis Each major country (and many minor) is pursuing monetary policies that attempt to create domestic growth at the expense of their neighbors. One of the terrible consequences of trade and currency war is that every country eventually gets caught up in the process and must play the same brutal game or suffer the consequences. No one paid much attention to [...] |
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