—- WorldMarketsReactToTurkey’s 425bps RateHike // ZeroHedge Judging by the reactionfromSocGen and JPY crosses (and thus global equity markets), the Turkish Central Bank’s decision – totightenakaubertaper– has solved all the tapering, tantruming, turmoiling problems in markets. TRY obviously dumped on the news (now at 2.18 -2100 from highs). JPYcrossesinstantlyexplodedhigher, automaticallyliftingUS (Dow +60) andJapanese (NKY +110) stockfuturesmarketsbeforetheyclosed. Gold fell very modestly ($1). JPY continued to weaken and … Seguir leyendo World Markets React To Turkey’s 425bps Rate Hike

—- HollandePlays "MotherMay I"; Mish’s 5 GiantScissorStepsProposal; ForeignInvestmentinFranceFalls 77% // Mish’s Global EconomicTrendAnalysis With bloated labor costs, pension requirements, labor rules, strikes, CEOs held hostage (literally), and overall union inefficiencies, it’s no wonder ForeignInvestmentinFranceFell 77% in 2013. Releasing its first estimates for 2013 Tuesday, the United Nations Conference on Trade and Development said that while foreign investment in the European Union increased from 2012, inflows … Seguir leyendo Hollande Plays “Mother May I”; Mish’s 5 Giant Scissor Steps Proposal; Foreign Investment in France Falls 77%

—- Turkeyhikes, aggressively // FTAlphaville *TURKEY’S CENTRAL BANK RAISES OVERNIGHT BORROWING RATE TO 8.00% *TURKEY’S CENTRAL BANK RAISES OVERNIGHT LENDING RATE TO 12.00% *TURKEY’S CENTRAL BANK RAISES BENCHMARK REPO RATE TO 10.00% The overnight lending rate had been 7.75 per cent, the borrowing rate was 3.5 per cent and the repo rate 4.5 per cent. So — just a tad aggressive… Continuereading: Turkeyhikes, aggressively —- … Seguir leyendo Turkey hikes, aggressively

—- China’sFakeExportNumbersUnderCloseScrutiny // Mish’s Global EconomicTrendAnalysis China’s export numbers are so unbelievable that even mainstream media doesn’t believe them. Bloomberg has the story correct, but its title could use a bit more punch. Please consider China TradePuzzleRevived as HongKong Data Diverge China’s trade numbers, distorted by fake exports last year, are set to come under renewed scrutiny after a discrepancy between Hong Kong and Chinese … Seguir leyendo China’s Fake Export Numbers Under Close Scrutiny

—- WhyShaleOilBoosters Are CharlatansInDisguise // ZeroHedge Something has bothered me of late: why is the price of crude oil still elevated? Other commodities have taken a battering since 2011. Gold, copper and iron ore – all are way down off their peaks. But oil has seemingly defied gravity. And that’s despite increased supply from shale oil in the U.S., still soft demand particularly in the … Seguir leyendo Why Shale Oil Boosters Are Charlatans In Disguise

—- CitiWarnsTheGreatestMonetaryExperimentInTheHistoryOfTheWorldIsBeingWoundDown // ZeroHedge As Citi’s Tom Fitzpatrick, a number of local market currencies are increasingly coming under pressure and look likely to fall even further. Whether this will turn into a dynamic as severe as 1997-1998 in unclear; however, at minimum Citi believes the “change in course” by the Fed in December (guided since May) has become a “game changer” for the EM World. … Seguir leyendo Citi Warns The Greatest Monetary Experiment In The History Of The World Is Being Wound Down

—- Al Campbell: DesigningSocialism – Visions, Projections, Models // NAKEDKEYNESIANISM Edited by Al Campbell This highly readable volume explores what contemporary models of socialism have to offer for envisioning a better world and developing feasible alternatives to neoliberalism and pervasive inequality. The book is organized around clearly stated questions that capture core issues and debates. Concise contributions from leading thinkers address the theoretical and historical … Seguir leyendo Al Campbell: Designing Socialism – Visions, Projections, Models

—- Venezuela Enacts "LawofFairPrices" BanningProfitsOver 30%, with 10-YearImprisonmentforHoarding // Mish’s Global EconomicTrendAnalysis No matter how ridiculous things are, they can always get worse, especially when dealing with leftist dictators and hyperinflation setups. Via translation from El Economista, please consider Venezuela IssuesLawofFairPrices, ProhibitingProfitsOver 30%. The Fair Prices Act, an instrument with which the Government of Nicolas Maduro intends to control prices and eliminate shortages, includes a … Seguir leyendo Venezuela Enacts “Law of Fair Prices” Banning Profits Over 30%, with 10-Year Imprisonment for Hoarding

—- China’sEpicOffshoreWealthRevealed: HowChineseOligarchsQuietlyParkedUpTo $4 TrillionInTheCaribbean // ZeroHedge The last time the International Consortium of Investigative Journalists made a splash in the financial media wasinApriloflastyearyearwhen it disclosed a trove of secret documents revealing a massive treasury of offshore wealth parked away from taxation-happy host governments. The context was clear: in the aftermath of the Cyprus deposit confiscation, public opinion had to turn against those who were … Seguir leyendo China’s Epic Offshore Wealth Revealed: How Chinese Oligarchs Quietly Parked Up To $4 Trillion In The Caribbean

—- FrenchBanksFace €285 Bn Capital Shortfall, Germany €199 Bn, Spain €92 Bn; MishFrench Fine Update // Mish’s Global EconomicTrendAnalysis At the risk of incurring another nonsensical fine for quoting someone on leverage and capital ratios of French banks, please consider EuropeanBanksFace $1 Trillion Gap BeforeReview. European banks have a capital shortfall of as much as 767 billion euros ($1 trillion) before the European Central Bank’s … Seguir leyendo French Banks Face €285 Bn Capital Shortfall, Germany €199 Bn, Spain €92 Bn; Mish French Fine Update