When the facts change, I change my mind. What do you do? -- John Maynard Keynes

Monday, July 27, 2015

100 Most Beautiful Airplanes at Oshkosh Fly-In (video)

100 Most Beautiful Airplanes at Oshkosh Fly-In - Every year hundreds of airplane enthusiasts gather in Oshkosh, Wisconsin to show off aircraft of all shapes and sizes, from vintage WWII bombers to custom gliders to Piper Cubs. Bloomberg gathered the highlights in one video. (Video by Mike Zorbas and Amy Marino.)

Sunday, July 19, 2015

Will China Drag Down the Global Economy? (video)

Will China Drag Down the Global Economy? -  Credit Suisse Chief Economist James Sweeney discusses the markets and the economy. He speaks on “Market Makers.” Published on Jul 14, 2015

Sunday, July 12, 2015

Greece, Austerity, Depression, Grexit or Fresh Start? (video)

Japonica Partners Founder and CEO Paul Kazarian discusses his company being one of the largest private bond holders in Greece and his thoughts on the latest proposal by the country to its creditors. He speaks with Jonathan Ferro on Bloomberg Television’s “On The Move.” Published on Jul 10, 2015

Counter from Paul Krugman:

Austerity and the Greek Depression - The New York Times: "... So now what? A few months ago I thought that stabilizing Greece at a small primary surplus might work, in the sense that it would allow a return to growth even if it didn’t do anything to make up lost ground. But the creditors are still demanding a rising primary surplus over time, and balking at top line debt relief that might at least offer a clear marker of progress. If those are the requirements for Greece to stay in the eurozone, Grexit is inevitable."

Tuesday, July 7, 2015

Mohamed El-Erian Says Keep A Close Eye on Chinese Stocks

Mohamed A. El-Erian | Facebook: "Lots of people will (and should) be keeping a close eye on Chinese stocks this week, starting with the government. In partnership with brokerage firms, the authorities opted for a big bang package over the weekend to stabilize what had been a volatile and rapidly correcting market (chart below from cnbc.com). This intervention reflects concerns about the risk of an adverse economic and social fallout. It did not take long for markets on Monday to test the robustness of the measures. The same is happening at the start of Tuesday’s session. Failure to contain volatility could lead to another leg down in stocks."

#China #Bubble

CSI 500 Index

SHCOMP INDEX - SHCOMP:IND (source: Bloomberg)

The Shanghai Stock Exchange Composite Index is a capitalization-weighted index. The index tracks the daily price performance of all A-shares and B-shares listed on the Shanghai Stock Exchange. The index was developed on December 19, 1990 with a base value of 100. Index trade volume on Q is scaled down by a factor of 1000.

For comparison: S&P500 Index (US)

Monday, July 6, 2015

Greece, United, Finally Says "NO" to EU Austerity "Insanity"

Screenshot of  Greek Ministry of Interior website NO: 61.31% ; YES: 38.69%
It wasn't even close!

Blasts from the past (2012): 

Time for the EU Creditors of Greece to take a haircut! Tomorrow will be interesting! Follow Live Twitter feed below:

Sunday, July 5, 2015

IPOs Halted on China's Stock Markets, Too Little, Too Late?

On Saturday evening, China’s two stock exchanges — in Shanghai and in the far southern city, Shenzhen — issued notices suspending initial public offerings until further notice even for companies that already had provisional approval to list their shares. (source infra)
As Chinese stocks soared in the 12 months until their peak on June 12, the small- and medium-size companies with weak financial fundamentals fared the best. Many of them quadrupled, or rose even more, in value, while the overall index doubled because large-cap stocks lagged far behind. The small-cap and medium-cap stocks overwhelmingly tended to draw middle-class and working-class investors who were buying whatever stocks were rising fastest. The Shanghai market rose 149 percent in the year until June 12. By comparison, a stock price index of 100 large mainland Chinese companies that are traded in Hong Kong — and many of them in Shanghai, too — rose 24 percent over the same period. (source infra)
China's government-controlled Securities Association of China said that 21 big brokerage firms had agreed to set up a fund worth at least 120 billion renminbi, or $19.4 billion, to buy shares in the largest, most stable companies, and to stop selling shares from their own portfolios. But some experts said the moves might not be enough to stop the hemorrhaging of money from the stock market, particularly given that $105 billion in shares changed hands in Shanghai on Friday.--China Moves to Stabilize Stock Markets; Initial Offerings Halted - The New York Times

The world is addicted to fiscal stimulus and central bankers' fiat money, and as a result has too much debt--The Smartest Man is Wild about Innovation"The whole world is suffering from too much debt. As a result, growth almost everywhere is going to be slow. I know you believe the problem is insufficient demand, but the major industrialized countries already have considerable debt and do not want to add any more to it to stimulate the consumer."

Financial Crisis Events to watch this week: 

The Big Picture

Financial Crisis - The Telegraph

JohnTheCrowd.com | The Sailing Website

Craig Newmark - craigconnects