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by Phoenix Capital Research
The media is jumping for joy over last week’s US jobs numbers. But beneath the veneer of headline numbers lies a truly horrible economic reality. Let’s have a look at the two key economies for the world: China and the US. For starters, China’s recent economic data, as massaged as it is to the upside, is downright awful. China’s PMI numbers were the worst in two years. Staffing levels [...] Soros: China’s Shadow Banking Has ‘Disturbing Similarities’ to US Subprime Billionaire investor George Soros said China has a “couple of years” to control risks from nontraditional financing whose expansion has parallels with the cause of the global financial crisis. “The rapid growth of shadow banking has some disturbing similarities with the subprime-mortgage market in the U.S. that caused the financial crisis of 2007-2008,” Soros said in a speech at the Boao Forum [...] Chinese warships have pointed missile radars at Japanese military targets and taken the two regional powers to the brink of “a dangerous situation”, say Japanese officials. The news overnight marks a dangerous escalation of a four-month diplomatic and military stand-off between Australia’s two largest trading partners, involving disputed islets in the East China Sea. Japan’s defence minister, Itsunori Onodera, told reporters last night that a Chinese frigate pointed a missile control radar [...] A CHINESE military officer has raised the spectre of nuclear weapons and warned Australia not to side with the United States and Japan as a territorial dispute in the East China Sea continues to escalate. Senior Colonel Liu Mingfu, of the National Defence University, blamed America’s ”orchestration” and Japan’s ”militarism” for rising tensions over disputed islands known as the Senkaku in Japan and the Diaoyu in China. ”America is the global tiger [...] BEIJING: Amid rising tensions with Japan over disputed islands, Chinese army in a bid to scale up battle readiness has ordered its armed helicopters to shift focus from logistic missions and gear up for combat operations. The focus of army aviation unit will be shifted from logistics missions to combat ones, from building the capacity for non-war military actions to core military actions, state-run Xinhua news agency quoted the daily as [...] China ranked lower than the U.S. in every single sub-category of infrastructure quality, an 69th overall.
Read more: http://www.businessinsider.com/us-infrastructure-behind-developed-world-2013-1#ixzz2IBPvOFxo  Interesting. A lot sooner than I thought they would.. IMF projects China will become the world’s biggest economy by 2016. The second largest economy in the world, China’s promising to increase its influence all across the globe. And as RT’s Lucy Kafanov reports, its ambitions are solidly based on its growing economic and military power. via RT: America’s days of economic dominance aren’t over just yet, but one international thinktank says it might come [...] Report: Asian Credit Boom Planting Seeds for Next Financial Crisis via Money News: The current Asian credit boom is much like the credit explosion in Ireland and the Baltic countries in their run up before the 2008 financial crisis, the report warns. The situation is particularly dangerous in Hong Kong, Vietnam and China. … In China, an increase in lending has prompted a strong increase in its manufacturing. In Vietnam, the country’s property bubble is [...] US to implement tariffs on imports from China Rumors that the United States would slap tariffs on China goods are now reality. The US Commerce Department set duties on billions of dollars of solar energy products from China Export Orders Appear To Be Collapsing Around The World … The chart below was presented recently by the Frederick Smith, the President and CEO of FedEx Corp., which shows the clearly negative trends in the year-over-year exports [...] by Michael Most Americans have no idea what a tremendous advantage the United States possesses by having the primary reserve currency of the world, and most Americans also have no idea how close the U.S. dollar is to losing that status. For the past 40 years, the vast majority of all global trade (including the buying and selling of oil) has been done in U.S. dollars. That is still the case [...] This is pretty f**king huge. Just saying. Link: http://www.theaustralian.com.au/news/world/china-japan-heading-towards-war-says-us-defence-secretary-leon-panetta/story-e6frg6so-1226475484583 “I am concerned that when these countries engage in provocations of one kind or another over these various islands, that it raises the possibility that a misjudgment on one side or the other could result in violence, and could result in conflict,” Mr Panetta said, when asked about a clash between Japan and China. “And that conflict would then have the potential of expanding.” -Defence Secretary Leon [...] World’s Economies Are CRASHING! PMI Numbers Crashing Across The World. CHINA HSBC PMI FALLS TO LOWEST LEVEL SINCE MARCH 2009!!! Japan: Markit/JMMA Manufacturing PMI — 47.7, down from 47.9 in July Netherlands: NEVI Manufacturing PMI — 49.7, up from 48.9 in July. SCORECARD Japan: Markit/JMMA Manufacturing PMI — 47.7, down from 47.9 in July Netherlands: NEVI Manufacturing PMI — 49.7, up from 48.9 in July. WASHINGTON (AP) — The global economy is in the worst shape since the dark days of 2009.
Six of the 17 countries that use the euro currency are in recession. The U.S. economy is struggling again. And the economic superstars of the developing world — China, India and Brazil — are in no position to come to the rescue. They’re slowing, too. The lengthening shadow over the world’s economy illustrates one of the [...] WASHINGTON (AP) — The global economy is in the worst shape since the dark days of 2009.
Six of the 17 countries that use the euro currency are in recession. The U.S. economy is struggling again. And the economic superstars of the developing world — China, India and Brazil — are in no position to come to the rescue. They’re slowing, too. The lengthening shadow over the world’s economy illustrates one of [...] China has finally overtaken America to become the biggest shopping nation on the planet, according to new retail figures. The retail bug has also caught on in other emerging consumer countries such as Russia, India and Brazil, who are set to overtake Europe’s powerhouses. But Britain is also set to overtake Germany in the table of the world’s highest spending shoppers, analysts predict. Buying bug: At predicted rates of growth, China¿s market is [...] The Economic Collapse
The largest oil exporter in the Middle East has teamed up with the second largest consumer of oil in the world (China) to build a gigantic new oil refinery and the mainstream media in the United States has barely even noticed it. This mammoth new refinery is scheduled to be fully operational in the Red Sea port city of Yanbu by 2014. Over the past several years, China [...] SYDNEY (MarketWatch) — Like the rest of the world, China’s recovery from the global financial crisis was the result of “Botox economics.” Taking advantage of a centrally controlled, command economy, Beijing boosted output through government spending and directed bank lending to maintain growth. Unfortunately, China now faces significant problems. The weakness of its two major trading partners (the U.S. and Europe) means export demand is likely to remain subdued. Domestically, [...] This post originally appeared at 24/7 Wall St.
Americans are used to the U.S. being the leader, or a top-ranked nation, in many areas. But in a number of industries and businesses, the U.S. has lost that first place, usually to China. While some, such as coal production, may not come as a surprise, other industries the U.S. has lost the market leadership on might. 24/7 Wall St. looked at a large number of manufacturing, [...] by Gregory Dittman Let’s first look at Japan. It was the boogieman of the 1980s and is the third largest economy in the world, but there is one major problem. It has faced a “lost economy” for the past 20 years. Japan has a highly educated work force, a small army, is fighting no wars, has universal health care and has a high income tax, low crime rate, low interest rate and [...] http://online.wsj.com/article/SB1000…googlenews_wsj Nations Chart New Course on Climate change By PATRICK MCGROARTY DURBAN, South Africa—Major industrial and emerging economies set a course to reduce greenhouse-gas emissions over the next decade and beyond, breaking a logjam between China, India and the U.S. that has stymied international climate talks. Following negotiations that stretched past dawn on Sunday, two days after the two-week United [...] financialsense.com Let’s talk about maybe one of the reasons why QE2 failed. In your view, will they announce another QE3 or QE4 as some on Wall Street anticipate if the economy weakens? Well, unfortunately, they feel they have to do something. But in all honestly, as I think they do realize, they can’t stop it because we are in a global economy. I mean, you take the QE2 idea, then okay, [...] by ZH Key statements from Yu’s FT Op-Ed which everyone should read: Chinese officials are understandably angry about the irresponsible brinkmanship demonstrated by their American counterparts in recent weeks. Unfortunately, anger counts for little in international finance. The danger facing the US is that after Tuesday’s debt deal any sense of urgency over a dire fiscal situation will dissipate. The danger for China is that it does not learn [...] LONDON (AP) — A new report says that China has overtaken the United States as the world’s biggest consumer of energy. Oil company BP said Wednesday that China moved to the top in 2010 with 20.3 percent of global demand, ahead of the United States at 19 percent. The report says China’s consumption rose by 11.2 percent last year compared with 3.7 percent in the United States. China’s [...] China says it’s not to blame for Google’s Gmail spear phishing attacks that targeted the e-mail accounts of top U.S. officials. Google had accused China of being the country of origin for a massive hack campaign aimed at gaining personal Gmail login credentials of hundreds of senior U.S. government officials and officials from other countries, but China says the allegations are “unacceptable.” PC World — [...] (NaturalNews.com) To most Americans it’s unthinkable that the U.S. dollar could someday be relegated to second-class status as a currency, but what they may not realize is that the transition is already underway. Reports this week marked the dollar’s continued slide – it reached a 16-month low against the euro and slid to a historic low against the Swiss franc on Tuesday – while at the same time [...] From Reuters: FRANKFURT, March 31 (Reuters) – After following the Federal Reserve’s lead for over a decade, the European Central Bank is poised to launch a series of interest rate hikes before the U.S. central bank for the first time in the ECB’s history. The change from the traditional pattern reflects the ECB’s greater preoccupation with inflation pressures, as well as its higher level of discomfort with the emergency bond-buying programmes run [...] Courtesy of GoldCore Chinese Silver Demand Surges Incredible Four Fold in Just One Year Gold is flat and silver marginally lower despite dollar weakness this morning. Some market participants are blaming the precious metal sell off on speculation that China may take more monetary action to curb surging inflation. This is unlikely to be the reason for the sharp selloff, rather it looks like another paper driven [...] From Bert Dohmen’s Welllington Letter, December 18 edition: GOLD: THE INVESTMENT OF THE AGES All except new subscribers know: we are very bullish on gold for the next 5-10 years. We believe it is the one investment that will prevail during the unprecedented turmoil ahead. The governments around the world have only one response to the problems of failing banks, excessive governmental debt, potential sovereign debt defaults, [...] |
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