asterisk2a + dogma + china + pboc   4

Weltwirtschaft: BIZ warnt vor Krediten in Schwellenländern - SPIEGEL ONLINE
Die Bank für Internationalen Zahlungsausgleich sieht Alarmzeichen für Banken in vielen Schwellenländern. Die Kreditvergabe in China, Brasilien oder der Türkei habe ein bedrohliches Verhältnis angenommen, warnt die Notenbank. // &! Die Welt steuert auf den Bankrott zu (QE trap): Eine vorläufige Antwort: Das tieferliegende Problem besteht darin, dass sich die Weltwirtschaft insgesamt auf den Bankrott zubewegt - und das wird umso schneller gehen, je höher die Zinsen sind und je niedriger die Preissteigerungsraten.
BIS  credit  bubble  2015  China  BRIC  NPL  shadow  banking  junk  bond  creditrating  banking  crisis  excess  reserves  QE  ZIRP  NIRP  hot-money  currency-war  currency  debasement  currency  war  centralbanks  economic  history  hunt  for  yield  FOMO  speculative  bubbles  FX  reserves  Turkey  Brazil  Developing  World  Fed  distortion  unknown  unkown  unintended  consequences  Raghuram  Rajan  BOE  BOJ  Abenomics  PBOC  ECB  emerging  market  emerging  middle  class  AIIB  Asia  South  Africa  Latin  America  deflationary  deflation  secular  stagnation  western  Niall  Ferguson  globalization  globalisation  wage  stagnation  disposable  income  income  distribution  income  inequality  income  growth  income  mobility  income  gap  wage  growth  GFC  recovery  fiscal  policy  monetary  policy  austerity  Pact  European  Union  UK  USA  Richard  Koo  Joseph  Stiglitz  Paul  Krugman  dogma  ideology  Fed  mandate  inflation  targeting  New  Normal  bond  bubble  QE  trap  liquidity  trap  reflate  reflation  asset  bubble  asset  allocation  property  bubble  capital  allocation  QT  debt  monetisation  debt  monetization  trickle-down  economics  marginal  cost  economics  of  abundance  digital  economy  Software  Is  Eating  The  World  World  Bank  IMF  savings  glut  faultlines  structural  imbalance  Impediments  Super  Cycle  debt  ser 
september 2015 by asterisk2a
Raghuram Rajan - One-on-One: an investigative interview - 44th St. Gallen Symposium - YouTube
Relying too much on the wrong instrument, monetary policy, unconventional QE2 & 3 >> little domestic positive impact but spilled over much across the world! // consequences now seen (1) taper tantrum late 2014 & then summer 2015; china slow-down/equity crash & taper anticipation moves followed up by pulling money out of emerging/developing markets! financial market are divergent from domestic business market. cycles shifted apart slightly. investor, business, financial market & consumer confidence are not linked as tightly before! // financial markets are now global, business markets itself not as much! money can be pulled out digitally in an instance. // no net-positive 4 whole world. selfishness. long-run danger. unintended consequences, unknown unknowns. // global sub-optimal monetary policy // global system (monetary system) broke // uncertainty, unknown of taper. timing debate. game of chicken. volatility bc of lots of froth, distortion! // &! youtu.be/SZe3issLIb8
Raghuram  Rajan  BIS  centralbanks  hot-money  currency-war  currency  debasement  currency  war  GFC  recovery  monetary  policy  QE  ZIRP  NIRP  excess  reserves  speculative  bubbles  reflate  reflation  economic  history  faultlines  credit  bubble  BRIC  2015  emerging  market  Developing  World  western  secular  stagnation  BOJ  Abenomics  PBOC  globalization  globalisation  financial  market  zombie  banks  savings  glut  business  confidence  business  investment  USA  UK  Europe  China  asset  bubble  asset  allocation  FOMO  hunt  for  yield  speculative  speculation  Super  Rich  1%  property  bubble  unconventional  monetary  policy  Fed  BOE  ECB  inflation  expectation  inflation  targeting  Fed  mandate  deflationary  deflation  fiscal  policy  irrational  exuberance  panic  hubris  unknown  unkown  unintended  consequences  Taper  book  structural  imbalance  Impediments  reserve  currency  fiat  currency  current  account  deficit  trade  deficit  structural  deficit  fiscal  deficit  fiscal  stimulus  Germany  austerity  dogma  ideology  credibility  Career  Politicians  Pact  Schuldenbremse  monetary  transmission  mechanism  monetary  stimulus  monetary  theory  monetary  system  complexity  incomplete  information  shadow  banking  uncertainty  volatility  distortion  financial  repression  governance 
september 2015 by asterisk2a
Steen Jakobsen: Get Ready For The Biggest Margin Call In History - YouTube
ideology/Career Politicians/Complacency/Cushy/non-ambitious/AIIB/comfortable //&! bit.ly/1cU2RVS March 2015, SELL & come back in 6 months - bloom.bg/1NTykGB //&! bit.ly/1NJvXai &! bit.ly/1VsYTEJ Outrageous predictions for 2015 were: China devalues yuan 20% [joining others in global struggle to import inflation] &! Corporate high yield market spreads double (higher refinancing cost, which zombie corporations do actually have no pants on as tide goes out) "High yield is a derivative of equity markets. If you believe equities are overvalued, so too is high yield," &! UK house prices crash (foreign hot money, speculative + shortage + Summer 2015 Crash + BOE Taper in 2015/16 = back to reality!) &! Russia defaults again // &! Fed Taper is a "margin call," [need 2 normalize despite its mandate/fundamentals not warranting a hike!] [...] a seven-year bull run 4 equities might be coming to an end [...] the rise (not value) of RMB/Yuan as it becomes free floating out of need] - cnb.cx/1MMyLSC
Abenomics  Yen  Yuan  RMB  devaluation  currency-war  fiat  currency  currency  debasement  currency  war  deflationary  deflation  credit  bubble  PBOC  China  credit  cycle  business  cycle  financial  cycle  financial  crisis  leverage  margin  trading  underinvestment  productive  investment  business  investment  public  investment  personal  investment  infrastructure  investment  rebalancing  structural  imbalance  Impediments  infrastructure  Career  Politicians  short-term  Fortune  500  shareholder  value  profit  maximisation  Wall  Street  ROI  STEM  Research  R&D  business  confidence  consumer  confidence  New  Normal  hunt  for  yield  output  gap  productivity  Software  Is  Eating  The  World  Robotics  3D  printing  Steen  Jakobsen  financial  incentive  secular  stagnation  Manufacturing  Industrial  Revolution  2.0  policy  AIIB  Asia  European  Union  share  buyback  2015  equity  bubble  speculative  bubbles  bond  bubble  property  bubble  asset  bubble  asset  allocation  distortion  demographic  bubble  ageing  population  western  developed  liquidity  trap  UK  USA  Europe  BOE  Fed  BOJ  ECB  bank  bailout  toobigtofail  too  big  to  jail  too  big  to  bail  banking  crisis  sovereign  debt  crisis  austerity  ideology  dogma  economic  history  trickle-down  economics  neoliberalism  neoliberal 
august 2015 by asterisk2a
US stocks nosedive in early trading amid collapse in global markets | Business | The Guardian
[ great reflation move since 09, finds another opportunity (this time because of China) to reflect. meaning to reassess reality. same with the collapse in emerging market, money going out of high yield & risk back to US/UK in hope of Taper and then came the hammer in form of China scare, people taking even more money out of emerging market/Chinas neighbours into the safe haven (perceived) that is the $/£/EUR market ] Dow dropped more than 1,000 points shortly after the markets opened, but it recovered slightly to be down 620 points, or 6%, shortly before 10am. Dow, which had suffered big falls last week, was trading below 16,000 at 10am – the first time it has been below that level since February 2014. The index is 14% below its record peak in May, putting the Dow firmly into “correction” territory – Wall Street jargon for a drop of 10% or more from a recent peak. &! bit.ly/1EQ31Fn &! bit.ly/1F1zPue - Summers argued for fiscal stimulus, debate about secular stagnation.
correction  asset  bubble  asset  allocation  emerging  market  hunt  for  yield  unintended  consequences  2015  unknown  unkown  hot-money  ZIRP  NIRP  QE  reflate  reflation  recovery  GFC  structural  imbalance  global  imbalances  China  USA  western  world  secular  stagnation  Developing  developed  world  Europe  UK  Singapore  Asia  global  economy  global  trade  energy  price  Oil  price  OPEC  economic  history  Taper  Abenomics  Japan  Fed  BOE  ECB  BOJ  Richard  Koo  equity  bubble  bond  bubble  deflationary  deflation  job  creation  job  market  participation  rate  industrial  policy  Makers  short-term  short-term  thinking  short-term  view  policy  folly  policy  error  PBOC  distortion  faultlines  Impediments  STEM  underinvestment  productive  investment  output  gap  productivity  Paul  Krugman  Larry  Summers  Ben  Bernanke  Janet  Yellen  Mark  Carney  MarioDraghi  Angela  Merkel  Wolfgang  Schäuble  austerity  fiscal  policy  Pact  Schuldenbremse  fiscal  stimulus  George  Osborne  dogma  IMF  OECD  ChristineLagarde  ideology 
august 2015 by asterisk2a

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