Posted on 01/26/2014 4:22:12 PM PST by Red in Blue PA
China has been pumping billions into their economy over the past couple of weeks.
Hey have needed to inject liquidity into their banking system almost every night.
It is pretty much a China thing, but the fear is of a contagion.
Meanwhile back at Porcupine. Creek. That show could really be cut throat
You won’t have any problems. You WILL have a set of new friends that will keep in touch.
List of contributing factors as p0er InvestmentWatch
#1 The looting, violence and economic chaos that is happening in Argentina right now is a perfect example of what can happen when you print too much money
#2 The value of the Argentine Peso is absolutely collapsing
#3 Widespread shortages, looting and accelerating inflation are also causing huge problems in Venezuela
#4 In a stunning decision, the Venezuelan government has just announced that it has devalued the Bolivar by more than 40 percent
#5 Brazilian stocks declined sharply on Thursday. There is a tremendous amount of concern that the economic meltdown that is happening in Argentina is going to spill over into Brazil
#6 Ukraine is rapidly coming apart at the seams
#7 It appears that a bank run has begun in China
#8 Art Cashin of UBS is warning that credit markets in China may be broken. For much more on this, please see my recent article entitled The $23 Trillion Credit Bubble In China Is Starting To Collapse Global Financial Crisis Next?”
#9 News that Chinas manufacturing sector is contracting shook up financial markets on Thursday
#10 Japanese stocks experienced their biggest drop in 7 months on Thursday
#11 The value of the Turkish Lira is absolutely collapsing
#12 The unemployment rate in France has risen for 9 quarters in a row and recently soared to a new 16 year high
#13 In Italy, the unemployment rate has soared to a brand new all-time record high of 12.7 percent
#14 The unemployment rate in Spain is sitting at an all-time record high of 26.7 percent
#15 This year, the Baltic Dry Index experienced the largest two week post-holiday decline that we have ever seen
#16 Chipmaker Intel recently announced that it plans to eliminate 5,000 jobs over the coming year
#17 CNBC is reporting that U.S. retailers just experienced the worst holiday season since 2008
#18 A recent CNBC article stated that U.S. consumers should expect a tsunami of store closings in the retail industry
#19 The U.S. Congress is facing another deadline to raise the debt ceiling in February
#20 The Dow fell by more than 170 points on Thursday. It is becoming increasingly likely that the peak of the market is now in the rear view mirror
>>>#11 The value of the Turkish Lira is absolutely collapsing<<<
The value of Turkish Lira is collapsing all the time since I first encountered it.
I first visited in 1994 and 1,000,000 Liras could easily buy me a harem, on a second visit in 1998 it could barely buy a bottle of beer.
It has been worse than that in 2005, and as I visited last summer they had new banknotes missing numerous zeros from the old ones. But still collapsing at the speed of sound.
I had Euros eventually changing them into a local currency witnessing some 10% collapse of Lira to Euro just in a few weeks of my stay there.
#21 Some HSBC customers have been prevented from withdrawing large amounts of cash because they could not provide evidence of why they wanted it, the BBC has learnt.
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