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Argentine Central Bank Chief Quits in Currency Dispute; Hyperinflation On the Way?

MishTalk

There was a sharp sell-off in the benchmark Merval stock index after Mr Fábrega’s departure was announced. Mr Fábrega leaves the central bank as annual inflation has climbed to around 40 per cent, and presided over huge monetary emission to finance a growing fiscal deficit, with negative real interest rates of about 20 per cent.

Banking 69
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Emerging Market Contagion Spreads; Argentina, Venezuela, Turkey Roundup; 50% Tax on Internet Purchases

MishTalk

Emerging Market Contagion Spreads Bloomberg reports Contagion Spreads in Emerging Markets as Crises Grow The worst selloff in emerging-market currencies in five years is beginning to reveal the extent of the fallout from the Federal Reserve’s tapering of monetary stimulus, compounded by political and financial instability.

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Singapore Set for Icelandic-Style Property Bubble Meltdown; Hype or Reality?

MishTalk

Singapore’s booming finance and real estate-focused economy has earned it the moniker “The Switzerland of Asia”, and finance professionals from all over the world are flocking to work there to take refuge from the hard-hit financial sectors in their home countries. Fed Funds Rate for the purpose of minimizing large swings in the U.S.

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China Attempts to Prop Up Stock Market After Steep Declines; 1929 Flashback

MishTalk

The South China Morning Post reports Chinese Shares Close Mixed as Stimulus Boost Short-Lived. The benchmark Shanghai Composite Index added 2.41 Instead of welcoming a much needed correction, Chinese brokerages and the Bank of China agreed to prop up the market. Stimulus Short-Lived The stimulus act has failed already.

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BIS Slams the Fed; Ridiculous Question of the Day: "Is The Fed Going To Attempt A Controlled Collapse?"

MishTalk

The question stems from lengthy (256 page PDF) from the BIS Annual Report (Bank for International Settlements) that stated among other things " The only source of lasting prosperity is a stronger supply side. Financing problems of non-financial corporations in EMEs can also feed into the banking system.

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Reflections on 2013; What's Important, What's Not? What's Ahead?

MishTalk

China China Local Debt On December 30, Bloomberg reported China’s Local Debt Swells to 17.9 Trillion Yuan in Audit The Washington Post notes "Local debt now equals about 33 percent of China’s gross domestic product, up from about 10 percent in 2008 and almost nothing in 1997." Walmart is the target of similar protests. The broad U.S.