Pigs at the Trough: Rating Agencies as Corrupt as Ever
Pigs at the TroughThe big rating agencies are as corrupt as ever. But don't blame them. That would be like blaming pigs for feeding at...
Author : Mish Global Economic Trend Analysis
Investigating Claims “North Atlantic Trade Ground to a Halt, No Ships Moving”; The Real Shipping Story
Commerce Ground to a Halt?Claims have surfaced that not a single transport ship in the North Atlantic is moving.For example, "Superstation" claims that in a...
China Declares War on Currency Speculators; Interbank Yuan Rates Spike to Record High 13.4%
In yet another example of currency intervention madness that will fail soon enough, China Declared War on Currency Speculators. China has opened a new front...
Europe Fears Bail-Ins: Capital Flight Intensifies in Italy, France, Spain; Are German Banks Safe?
Fear!Money parked at the ECB at a negative rate of 0.3% hit a new high at the beginning of 2016.Above chart from Statista.Possible ExplanationsFear of...
Merkel Cancels Davos Trip, Warns Migrant Sex Offenders Part of Organized Crime
In response to growing pressure over the over the mass sexual assaults and robberies that took place in Cologne on New Year’s Eve, Angela Merkel...
Mexico Blames China for “Frankly Perverse” Currency Wars Then Joins Mad Intervention Party
One-Way Trip LowerEvery rally in the Mexican peso vs the US dollar has failed since 2001. The Peso is now worth about half what it...
Unusual Sacrifice; Price of a Deal; Together for Yes
Unusual SacrificeSpain saw an unusual outcome on Saturday: A politician sacrificed himself for the good of his cause. Background for this development stems from regional...
Is Chancellor Merkel Openly Inviting More Sex Crimes by Refugees?
Refugee Sex ScandalIn the wake of a New Year's Eve Sex Scandal in Cologne that involved approximately 1,000 refugees, German chancellor Angela Merkel proposed Tougher...
Pro-Independence Spanish Parties Strike Deal to Form Government, New Catalan Election Called Off
On January 3, the Financial Times reported Leadership divisions deal a blow to Catalan hopes for independence. The two main independence parties — the mainstream...
Margin Requirements Double on Yuan Currency Trades; China Recap
As volatility increases, so do margin costs. Consider this image of an email from FXCM forwarded by reader Jacob.click on image for sharper viewThe margin...