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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. Our analysis indicates that China’s economy has arrived at that unstable state where speculative and Ponzi finance appear to dominate. Most assume China can grow at 7% a year, a notion that I have challenged on many occasions. Morgan Stanley agrees.

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

Get Involved The State of the Unions Finances: A Citizens Guide. Non-Manufacturing Services ISM Fails to Meet Expectations; New Orders Plunge. Non-Manufacturing Services ISM Fails to Meet Expectations; New Orders Plunge. 2009-12-09 Tech Ticker. 2009-10-30 King World News. 2009-05-15: My Speech at Google.

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

Get Involved The State of the Unions Finances: A Citizens Guide. Scranton taxpayers could face a 117 percent increase in taxes next year as the citys finances continue to spiral out of control. 2009-12-09 Tech Ticker. 2009-10-30 King World News. 2009-05-15: My Speech at Google. December 2009 (93).

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

MishTalk

Get Involved The State of the Unions Finances: A Citizens Guide. According to Moodys Chicago has $19 billion in unfunded pension liability and faces a "tremendous strain" in meeting their budget and paying law enforcement. 2009-12-09 Tech Ticker. 2009-10-30 King World News. 2009-05-15: My Speech at Google.