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China Faces "Minsky Moment" on Ponzi Financing

MishTalk

Inquiring minds are tuning into a report on the Ponzi finance setup in China. We have described in detail over the past two years how we believe China’s twin excesses (excessive investment funded by excessive debt) will inevitably unwind, causing a substantial slowdown in China’s economy, significantly below market expectations.

Finance 75
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Non-Manufacturing Services ISM Fails to Meet Expectations

MishTalk

Minyanville Business and Market News. Get Involved The State of the Unions Finances: A Citizens Guide. China Financial Markets. Market Oracle. Market Ticker. Real Clear Markets. Non-Manufacturing Services ISM Fails to Meet Expectations; New Orders Plunge. Abolish The Fed Sign the Petition. Daily Bell.

Meeting 60
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Seven Years Later, Global Debt Keeps Piling Up, $57 Trillion More Than 2007

MishTalk

In fact, rather than reducing indebtedness, or deleveraging, all major economies today have higher levels of borrowing relative to GDP than they did in 2007. Since 2007, government debt has grown by $25 trillion. Since 2007, government debt has grown by $25 trillion. China China’s debt has quadrupled since 2007.

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Recovery Mirage in Spain Dissipates Into Ashes

MishTalk

Spain is again dependent on foreign financing. Via translation from Libre Mercado, Spain Again Borrows Abroad to Finance Consumption. Between 2002 and 2007, Spain was amassing a growing external deficit, as more and sell less abroad (exports) and bought more (imports), bringing its foreign debt grew. If so, think again.

Finance 74
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Scranton Needs 117% Property Tax Hike to Balance Budget

MishTalk

Minyanville Business and Market News. Get Involved The State of the Unions Finances: A Citizens Guide. China Financial Markets. Market Oracle. Market Ticker. Real Clear Markets. Scranton taxpayers could face a 117 percent increase in taxes next year as the citys finances continue to spiral out of control.

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Mish's Global Economic Trend Analysis: Avalanche of City Debt.

MishTalk

Minyanville Business and Market News. Get Involved The State of the Unions Finances: A Citizens Guide. China Financial Markets. Market Oracle. Market Ticker. Real Clear Markets. Philadelphia : 5th Largest City in US is Effectively Bankrupt; Mayor Holds Closed Meeting With Wall Street to Discuss Asset Sales.

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Mish's Global Economic Trend Analysis: Italy Faces Huge Losses on.

MishTalk

Minyanville Business and Market News. Get Involved The State of the Unions Finances: A Citizens Guide. China Financial Markets. Market Oracle. Market Ticker. Real Clear Markets. Mish and Eric King discuss Gold, the Stock Market, the US Dollar, Sideline Cash, China, and US real estate. Automatic Earth.