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The impact of China’s slowdown and has been impacting corporate profits.
And Chinese cement company Dongwu Cement, which had its initial public offering just 49 days ago, has already issued a profit warning. Patrick Chovanec alerted us to the company that is expected to report a first half loss. The company’s prospectus at the time of the IPO showed that declining fixed asset investment in the country would see demand for cement decline, impacting prices. With Beijing dead set [...] http://www.thestreet.com/story/11616596/1/shadow-reo-as-many-as-90-of-foreclosed-properties-held-off-the-market.html This means that ALL THE HOUSES which are for sale now, only are 10 or 15% of whats REALLY foreclosed already and what should be available for sale. This means we are so fuxored right now, that the banks can’t even put them on the market because it will collapse everything. Then if there is an uptick in their 10-15% of houses, they get to play that as a gain in [...] David Levenstein says although gold prices remain range bound, prices firmed up during last week indicating a more bullish sentiment in the short-term.
Author: David Levenstein JOHANNESBURG - It was not that long ago when Greece was the main concern of global investors, but already most of us have already forgotten about that on-going saga. Now, the global financial crisis has moved from Greece to Spain, with Italy waiting to [...] Investors have been up in arms lately about Spain’s burgeoning economic crisis.
The country’s financial system has struggled under the weight of the a troubled real estate sector. While the government has backed efforts to consolidate Spain’s many banks, it has yet to lead a universal bank bailout that would siphon taxpayer money into a financial sector backstop. Even if the government made a political sacrifice to do so, liquidity and insolvency [...] Chanos, the head of Kynikos Associates, has been betting against China —despite its role as a global economic leader — primarily because he believes the country is overbuilt and does not have the internal demand to support its ambitious growth plans. Nowhere has that trend been more apparent than in the banking system. “If you looked at the performance of the banks over the last two years…they have been great shorts,” Chanos [...] From CNBC: Beijing announced recently that it has enough economic leeway to ease monetary policy, but it also introduced curbs to cool the real-estate sector. Those apparently mixed signalsprompted some market watchers to say they were afraid of a sharp slowdown in the Chinese economy. “The bigger cycle we’re experiencing [in the West] is the result of the bursting of the credit bubble [in 2007],” Stephen Gallo, head of market analysis at [...] By Sue Chang, MarketWatch NEW YORK — China is heading into an economic storm, and the much-feared hard-landing of the world’s second-largest economy has already started, warned celebrated hedge-fund manager and China-bear Jim Chanos of Kynikos Associates on Monday. “The numbers are falling faster than we thought,” said Chanos during an exclusive interview with MarketWatch on the sidelines of the 7th Annual New York Value Investing Congress. “Real estate sales [...] By Greg Robb WASHINGTON (MarketWatch) — U.S. banks continued to ease restrictions on most types of loans over the past three months except in the real estate sector, according to a survey of the banks’ senior loan officers released Monday by the Federal Reserve. Demand was weak for residential loans but strengthened in commercial real estate and industrial loans, according to the survey of 55 [...] By MADHURIMA NANDY AND DINESH UNNIKRISHNAN OF MINT BANGALORE — Real-estate firms are approaching non-banking finance companies for loans to pay for land, construction and pre-development of projects, now that most banks have shut their doors on this sector. Last year, 20 developers raised about 30 billion rupees ($667 million) from the non-banking financial institutions through non-convertible debenture, according to Enam Securities’ April report. Such debt cannot be converted to stock, and offer [...] by Carlos X. Alexandre, SA China is often admired as an economic miracle, especially since the government has been able to balance, thus far, a Communist/Socialist political infrastructure while operating a semi-capitalist “free” market. But as a side effect of a global economic slow down, and considering bits of information that filter out of an extremely well controlled society, China’s economic power is beginning to be [...] by ZH Stagflation, bitchez. PPI in February doubled to 1.6% on expectations of 0.7%, compared to 0.8% previously, and 5.6% Y/Y! This is the largest increase in finished goods prices since a 1.9-percent advance in June 2009. At the earlier stages of processing, prices received by manufacturers of intermediate goods moved up 2.0 percent, and the crude goods index climbed 3.4 percent. On an unadjusted basis, prices [...] “The stock market’s rise since the March 2009 lows was nothing more than a bear market rally. Yes, it was a huge rally, but not out of the realm of similar historical examples. Low trading volume, still high valuations and lingering economic problems  especially within the real estate sector and the banking system  have been strong arguments for my outlook. And the history of burst real estate bubbles could [...] |
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Feds all deserve to be lined up against a wall and shot. Come to think of it, it might happen one day.
Came across a good article warning that this week was the Fed’s opportunity to reinvest options on previous treasury purchases made with the stimulous QE funny money, there was some obvious market pumping done before options expire on Friday. And a warning that even with $340 Billion to pump into the market this week they still couldnt build a rally – which is scary for whats going to happen next [...]