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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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"Secret" Meetings on Greece? Say It Ain't So; Euro Contagion Coming Up

MishTalk

How long can secret ECB meetings stay secret? The Wall Street Journal today reports on a secret meeting that took place Monday evening regarding Greece finances. Please consider Greece Creditors, France, Germany Held Secret Meeting Monday. The meeting was inconclusive, the people familiar with the situation said.

Meeting 77
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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. 2009-12-09 Tech Ticker. Big Picture.

Meeting 60
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Hilarious Transcripts of Fed Minutes from 2008 Reveal Completely Clueless Fed

MishTalk

Today the Fed released minutes of meetings at the start and during the great financial crisis. Some outside consultants presented to the Fed at that meeting, generally giving an amazingly rosy view of the world as well. All they have to do is pay out, as it is incurred, the interest that the structured-finance product can’t pay out.

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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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Russia Debt One Grade Above Junk With Downgrades Coming, How Likely is Default?

MishTalk

Anton Siluanov, finance minister, said state-owned VTB, the second-largest lender by assets, could receive Rbs100bn before the end of this year and another Rbs150bn in 2015, while Gazprombank could be allocated Rbs70bn. It has now consumed a tenth of the money earmarked by the government last week for bank bailouts.

Banking 72