America is stretched to breaking point: watch the markets

[VegasVic]

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Dow closed at 17,005 today. Nasdaq 4,564 and S&P at 1,985. I hope no one took the market advice of the few and the OP and went short when OP article came out. That was a quick bounce.

Ooops, don't look now but the DOW just set another record I wouldn't worry too much about the finances of the barstool trollers here, I doubt very much if they have enough Euros, Pounds, Pesos or Baht to invest in anything Speaking of which I see that the Euro is down near the $1.25 level and the Pound isn't doing much better, and this is without the Yanks even raising interest rates, just imagine what is going to happen when the FED starts to raise rates next year Methinks that Goldman Sachs was correct a couple months back when they predicted Euro-Dollar parity by the end of 2015!

[VegasVic]

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Dow closed at 17,005 today. Nasdaq 4,564 and S&P at 1,985. I hope no one took the market advice of the few and the OP and went short when OP article came out. That was a quick bounce.

Ooops, don't look now but the DOW just set another record I wouldn't worry too much about the finances of the barstool trollers here, I doubt very much if they have enough Euros, Pounds, Pesos or Baht to invest in anything alt=thumbsup.gif> Speaking of which I see that the Euro is down near the $1.25 level and the Pound isn't doing much better, and this is without the Yanks even raising interest rates, just imagine what is going to happen when the FED starts to raise rates next year alt=whistling.gif> Methinks that Goldman Sachs was correct a couple months back when they predicted Euro-Dollar parity by the end of 2015!

We had an election in the States yesterday and it would appear that sanity has been restored in the good old U.S.A., so look for a balanced budget amendment a chipping away at the debt and rising interest rates as well as more favorable corporate tax policy (and a looser energy policy) in order to grow the economy and create more jobs Just so I keep on topic here, the DOW and the S&P both hit new record highs today, so much for "America being at the breaking point"

[F430murci]

Vegas Vic, I know, but I sure wish it would go the other way as I need to sick some end if the year income away and I hate to on a high note.

[canman]

This sums it up nicely:

[VegasVic]

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This sums it up nicely:

Canman, This is outstanding, I'm still in tears from laughing so hard Someone sent me something similar to this a while back but it dealt with how Capitalism is viewed by the various socioeconomic groups in the U.S. , I'll try and see if I can find it and post it here.

[thaibeachlovers]

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Dow closed at 17,005 today. Nasdaq 4,564 and S&P at 1,985. I hope no one took the market advice of the few and the OP and went short when OP article came out. That was a quick bounce.

Ooops, don't look now but the DOW just set another record I wouldn't worry too much about the finances of the barstool trollers here, I doubt very much if they have enough Euros, Pounds, Pesos or Baht to invest in anything Speaking of which I see that the Euro is down near the $1.25 level and the Pound isn't doing much better, and this is without the Yanks even raising interest rates, just imagine what is going to happen when the FED starts to raise rates next year Methinks that Goldman Sachs was correct a couple months back when they predicted Euro-Dollar parity by the end of 2015!

The rich in the US are doing just fine, it's all the rest of the population that isn't doing too well. Most people don't invest in the stockmarket.

[canman]

This sums it up nicely:

I like it, but for the NZ section, it should be sheep .

One of the traits I like about Kiwi's; they will make do with what ever comes along

[VegasVic]

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Dow closed at 17,005 today. Nasdaq 4,564 and S&P at 1,985. I hope no one took the market advice of the few and the OP and went short when OP article came out. That was a quick bounce.

Ooops, don't look now but the DOW just set another record I wouldn't worry too much about the finances of the barstool trollers here, I doubt very much if they have enough Euros, Pounds, Pesos or Baht to invest in anything alt=thumbsup.gif> Speaking of which I see that the Euro is down near the $1.25 level and the Pound isn't doing much better, and this is without the Yanks even raising interest rates, just imagine what is going to happen when the FED starts to raise rates next year alt=whistling.gif> Methinks that Goldman Sachs was correct a couple months back when they predicted Euro-Dollar parity by the end of 2015!

The rich in the US are doing just fine, it's all the rest of the population that isn't doing too well. Most people don't invest in the stockmarket.

You are correct, and in many of the threads here today the point that is being made is that even though Obama rails against the rich 1 percenters, the fact is that under the 6 years of Obama the 1 percenters have been getting substantially wealthier and the middle class has been getting screwed, and the middle class in America finally woke up and smelled the coffee yesteday and voted the Obama clones out of office

[thaibeachlovers]

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Dow closed at 17,005 today. Nasdaq 4,564 and S&P at 1,985. I hope no one took the market advice of the few and the OP and went short when OP article came out. That was a quick bounce.

Ooops, don't look now but the DOW just set another record I wouldn't worry too much about the finances of the barstool trollers here, I doubt very much if they have enough Euros, Pounds, Pesos or Baht to invest in anything alt=thumbsup.gif> Speaking of which I see that the Euro is down near the $1.25 level and the Pound isn't doing much better, and this is without the Yanks even raising interest rates, just imagine what is going to happen when the FED starts to raise rates next year alt=whistling.gif> Methinks that Goldman Sachs was correct a couple months back when they predicted Euro-Dollar parity by the end of 2015!

The rich in the US are doing just fine, it's all the rest of the population that isn't doing too well. Most people don't invest in the stockmarket.

You are correct, and in many of the threads here today the point that is being made is that even though Obama rails against the rich 1 percenters, the fact is that under the 6 years of Obama the 1 percenters have been getting substantially wealthier and the middle class has been getting screwed, and the middle class in America finally woke up and smelled the coffee yesteday and voted the Obama clones out of office

I was really pleased when I saw that the GOP had taken the Senate. Unfortunately, the dems will try and cause trouble in the time they have left.

[MrWorldwide]

The Nation writer got it all wrong - I know exactly how humanity's final days will play out.

http://www.metalinjection.net/wp-content/uploads/2014/10/Death-Metal-Walking-Dead.jpeg

[lovetotravel]

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Dow closed at 17,005 today. Nasdaq 4,564 and S&P at 1,985. I hope no one took the market advice of the few and the OP and went short when OP article came out. That was a quick bounce.

Ooops, don't look now but the DOW just set another record I wouldn't worry too much about the finances of the barstool trollers here, I doubt very much if they have enough Euros, Pounds, Pesos or Baht to invest in anything Speaking of which I see that the Euro is down near the $1.25 level and the Pound isn't doing much better, and this is without the Yanks even raising interest rates, just imagine what is going to happen when the FED starts to raise rates next year Methinks that Goldman Sachs was correct a couple months back when they predicted Euro-Dollar parity by the end of 2015!

The rich in the US are doing just fine, it's all the rest of the population that isn't doing too well. Most people don't invest in the stockmarket.

Probably not that much different in the rest of the world. The rich are getting richer everywhere. Some places more than others:

http://money.cnn.com/2014/11/06/news/economy/hong-kong-income-inequality/

Hong Kong is a gorgeous city: shining skyscrapers, deep blue waters and towering green mountains. But behind all that rumbles a growing frustration with income inequality and crazy high real estate prices.

The gap between the rich and poor in the city is among the widest in the world, and the problem is only getting worse

[slipperylobster]

Not in agreement. Just looking at how we are doing in the past few days. AUD seems to be in trouble...not the USD.

anyways...nice try.

[slipperylobster]

oh no. the sky is falling ..the sky is falling.

gloom and doom for the USA.

sounds like garbage. Where does this source get their weird opinions from?

Looking at the markets this morning..we are doing real good.

Good strength.

Edited November 7, 2014 by slipperylobster

[3NUMBAS]

and big falls in gold and silver prices

[F430murci]

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Dow closed at 17,005 today. Nasdaq 4,564 and S&P at 1,985. I hope no one took the market advice of the few and the OP and went short when OP article came out. That was a quick bounce.

Ooops, don't look now but the DOW just set another record I wouldn't worry too much about the finances of the barstool trollers here, I doubt very much if they have enough Euros, Pounds, Pesos or Baht to invest in anything Speaking of which I see that the Euro is down near the $1.25 level and the Pound isn't doing much better, and this is without the Yanks even raising interest rates, just imagine what is going to happen when the FED starts to raise rates next year Methinks that Goldman Sachs was correct a couple months back when they predicted Euro-Dollar parity by the end of 2015!

The rich in the US are doing just fine, it's all the rest of the population that isn't doing too well. Most people don't invest in the stockmarket.

The OP was predicting a stock market crash and panic spreading across America due to Ebola outbreak. No mention of income disparity. I suppose when some theories don't pan out for you, you find something else to complain about.

The recovery is not just about the stock market. The housing market is recovering nicely in most areas, housing starts strong, GM and Ford sales both eclipsed Honda, unemployment down, CPI and GDP healthy, corporations healthy and etc.

It is not just the rich that keeps these key economic factors going in the right direction. These factors are driven at the consumer level across all income brackets.

The poor are getting food stamps,, givernment assistance, subsudized hoysing and free subsidized insurance. Our so called poor have a much better life than the middle class in many countries.

What else do you want? Should we give the poor brand new Cadillacs, luxury condos and a $ 1,500 a month in extra spending cash?

One can thank the Internet for creating huge disparities in wealth all over the world, putting lower wage unskilled workers out of work and causing brick and mortar business to fail because they cannot compete. That is an entirely different thread.

[Publicus]

Unemployment as of today is at 5.8% which is the lowest level in umpteen years since Geo W Bush created almost as much joblessness as Herbert Hoover. The current data isn't perfect, it just keeps steadily moving in the right direction.

Now pay working stiffs that work long and hard hours a new minimum wage so the government's transfer programs can be further reduced.

The US continues on the upswing while Russia and China continue to crumble. Brazil isn't doing very well either and India remains India.

[lovetotravel]

Though there's room for improvement, the US is doing pretty good:

http://money.cnn.com/2014/11/07/news/economy/october-jobs-report-unemployment-fall/index.html

U.S. has added 2.3 million jobs this year Employers added 214,000 jobs in October, continuing a trend of strong job growth this year that is on track to be the best for America since 1999.

The unemployment rate fell to 5.8%, according the government report released Friday. The rate fell below 6% in September for the first time in six years.

[chuckd]

This is fine until one looks at the real unemployment rate, which was 11.5% in October.

--------------------------------------------------------------------------

Chart: What’s the real unemployment rate?

CNBC.com staff | @CNBC

Friday, 3 Oct 2014 | 8:33 AM ET

The U.S. Labor Department said Friday that the unemployment rate was 5.8 percent in October—but does that rate tell the real story?

A number of economists look past the "main" unemployment rate to a different figure the Bureau of Labor Statistics calls "U-6," which it defines as "total unemployed, plus all marginally attached workers plus total employed part time for economic reasons, as a percent of all civilian labor force plus all marginally attached workers."

In other words, the unemployed, the underemployed and the discouraged—a rate that still remains high.

http://www.cnbc.com/id/102055126#.

[Asiantravel]

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Dow closed at 17,005 today. Nasdaq 4,564 and S&P at 1,985. I hope no one took the market advice of the few and the OP and went short when OP article came out. That was a quick bounce.

Ooops, don't look now but the DOW just set another record I wouldn't worry too much about the finances of the barstool trollers here, I doubt very much if they have enough Euros, Pounds, Pesos or Baht to invest in anything Speaking of which I see that the Euro is down near the $1.25 level and the Pound isn't doing much better, and this is without the Yanks even raising interest rates, just imagine what is going to happen when the FED starts to raise rates next year Methinks that Goldman Sachs was correct a couple months back when they predicted Euro-Dollar parity by the end of 2015!

The rich in the US are doing just fine, it's all the rest of the population that isn't doing too well. Most people don't invest in the stockmarket.

The OP was predicting a stock market crash and panic spreading across America due to Ebola outbreak. No mention of income disparity. I suppose when some theories don't pan out for you, you find something else to complain about.

The recovery is not just about the stock market. The housing market is recovering nicely in most areas, housing starts strong, GM and Ford sales both eclipsed Honda, unemployment down, CPI and GDP healthy, corporations healthy and etc.

It is not just the rich that keeps these key economic factors going in the right direction. These factors are driven at the consumer level across all income brackets.

The poor are getting food stamps,, givernment assistance, subsudized hoysing and free subsidized insurance. Our so called poor have a much better life than the middle class in many countries.

What else do you want? Should we give the poor brand new Cadillacs, luxury condos and a $ 1,500 a month in extra spending cash?

One can thank the Internet for creating huge disparities in wealth all over the world, putting lower wage unskilled workers out of work and causing brick and mortar business to fail because they cannot compete. That is an entirely different thread.

But ultimately, who will be paying for this? And in your mind is there any kind of breaking point whereby the productive members of society become outnumbered by those that are happy to do nothing more than receive the benefits ?In 11 of the 50 US states residents already dependent on the government outnumber private sector workers.

Edited November 8, 2014 by Asiantravel

[Asiantravel]

Unemployment as of today is at 5.8% which is the lowest level in umpteen years since Geo W Bush created almost as much joblessness as Herbert Hoover. The current data isn't perfect, it just keeps steadily moving in the right direction.

Now pay working stiffs that work long and hard hours a new minimum wage so the government's transfer programs can be further reduced.

The US continues on the upswing while Russia and China continue to crumble. Brazil isn't doing very well either and India remains India.

" China continue to crumble "

Britain to include China's RMB as foreign currency reserve

http://news.xinhuanet.com/english/business/2014-09/13/c_126981640.htm

Edited November 8, 2014 by Asiantravel

[F430murci]

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nother record I wouldn't worry too much about the finances of the barstool trollers here, I doubt very much if they have enough Euros, Pounds, Pesos or Baht to invest in anything Speaking of which I see that the Euro is down near the $1.25 level and the Pound isn't doing much better, and this is without the Yanks even raising interest rates, just imagine what is going to happen when the FED starts to raise rates next year Methinks that Goldman Sachs was correct a couple months back when they predicted Euro-Dollar parity by the end of 2015!

The rich in the US are doing just fine, it's all the rest of the population that isn't doing too well. Most people don't invest in the stockmarket.

The OP was predicting a stock market crash and panic spreading across America due to Ebola outbreak. No mention of income disparity. I suppose when some theories don't pan out for you, you find something else to complain about.

The recovery is not just about the stock market. The housing market is recovering nicely in most areas, housing starts strong, GM and Ford sales both eclipsed Honda, unemployment down, CPI and GDP healthy, corporations healthy and etc.

It is not just the rich that keeps these key economic factors going in the right direction. These factors are driven at the consumer level across all income brackets.

The poor are getting food stamps,, givernment assistance, subsudized hoysing and free subsidized insurance. Our so called poor have a much better life than the middle class in many countries.

What else do you want? Should we give the poor brand new Cadillacs, luxury condos and a $ 1,500 a month in extra spending cash?

One can thank the Internet for creating huge disparities in wealth all over the world, putting lower wage unskilled workers out of work and causing brick and mortar business to fail because they cannot compete. That is an entirely different thread.

But ultimately, who will be paying for this? And in your mind is there any kind of breaking point whereby the productive members of society become outnumbered by those that are happy to do nothing more than receive the benefits ?In 11 of the 50 US states residents already dependent on the government outnumber private sector workers.

Discussing some hysteria type chain email that is misleading. A chain email! A chain email that provides extremely misleading info nonetheless.

That chain mail included government employees, young children receiving TANF people in retirement or receiving government pensions and etc. as takers and it still turned out to be inaccurate and misleading.

Why the heck would you use young children receiving TANF who are too young to work in a calculation of "those happy to do nothing and receive benefits."

Edited November 8, 2014 by F430murci

[Loptr]

But seriously, if you don't think international bankers and markets were just as selfish as American bankers and markets during subprime . . . They all profited and knew what was going on.

Still, it is bs to attribute this to the average American who was also harmed.

Until collusion between the DOJ, NY Fed and JPM surfaces...

http://www.rollingstone.com/politics/news/the-9-billion-witness-20141106

Too big to jail? I guess we'll see now that the obstructionists are out of the Senate...

[F430murci]

But seriously, if you don't think international bankers and markets were just as selfish as American bankers and markets during subprime . . . They all profited and knew what was going on.

Still, it is bs to attribute this to the average American who was also harmed.

Until collusion between the DOJ, NY Fed and JPM surfaces...

http://www.rollingstone.com/politics/news/the-9-billion-witness-20141106

Too big to jail? I guess we'll see now that the obstructionists are out of the Senate...

Dimon should and will burn if he is guilty.

[Publicus]

Though there's room for improvement, the US is doing pretty good:

http://money.cnn.com/2014/11/07/news/economy/october-jobs-report-unemployment-fall/index.html

U.S. has added 2.3 million jobs this yearEmployers added 214,000 jobs in October, continuing a trend of strong job growth this year that is on track to be the best for America since 1999.

The unemployment rate fell to 5.8%, according the government report released Friday. The rate fell below 6% in September for the first time in six years.

Indeed, the US has gone from losing 400,000 jobs a month in Q4 of 2008 and the 1H 2009 to several dozen months of a consistent job creation. The job creation has been steady and its also been increasing.

The next president is going to have to start dealing with radical changes to the society and culture due to the structural changes of the new cyber economy. We no longer need "full employment" by traditional and customary standards. in the America that's already begun to take shape, full employment may mean 60% of the labor market works.

Eventually under the evolving cyber economy as few as 30% can do all the work, perhaps 40% -- it's just not that clear yet. Short of gassing 100 million fellow Americans one happens not to like, we're going to have to restructure and reorient our society and culture to comport to the new economic realities.

So you and I are basically on the same page as far as the unemployment data and realities are concerned...it certainly is positive and great to see that one-time 10% unemployment figure crash through the 6% floor.

[F430murci]

The unemployment figure is actually pretty spot on. Chuck throws this 11.5 % figure that got skewed when retirees were forced to reenter the work force in 08/09 when pensions and retirement funds lost 60% or more in some instances.

Guess what, they dropped back out of the workforce because their retirement or pensions are back up and they don't have to work.

The other misleading data here is trying to count those of student age that focus on full time studies or work seasonal jobs. That they dropped out of job market is also positive.

There are problems in certain sectors of our population job wise, but you guys continue to focus on misleading political rhetoric bs.

[NeverSure]

Unemployment as of today is at 5.8% which is the lowest level in umpteen years since Geo W Bush created almost as much joblessness as Herbert Hoover. The current data isn't perfect, it just keeps steadily moving in the right direction.

Now pay working stiffs that work long and hard hours a new minimum wage so the government's transfer programs can be further reduced.

The US continues on the upswing while Russia and China continue to crumble. Brazil isn't doing very well either and India remains India.

" China continue to crumble "

Britain to include China's RMB as foreign currency reserve

http://news.xinhuanet.com/english/business/2014-09/13/c_126981640.htm

I can't believe the lack of understanding of international trade that causes people to see something positive about China.

Please read the line that says it's to increase Chinese foreign currency reserves. China is a major player in the exporting of manufactured goods. That will last until Western countries get sick of them in general but for now there is money exchanged.

China holds about 2 tril in US bonds that some mistakenly see as the US owing China money rather than China needing US dollars to buy anything in many places, including the dollar being the petro dollar.

Thailand is a player in import and export and it holds various currencies including US bonds so that it can buy and sell internationally, just as China does.

These foreign reserves are for international trade, and international liquidity. Nothing more.

[Publicus]

Unemployment as of today is at 5.8% which is the lowest level in umpteen years since Geo W Bush created almost as much joblessness as Herbert Hoover. The current data isn't perfect, it just keeps steadily moving in the right direction.

Now pay working stiffs that work long and hard hours a new minimum wage so the government's transfer programs can be further reduced.

The US continues on the upswing while Russia and China continue to crumble. Brazil isn't doing very well either and India remains India.

" China continue to crumble "

Britain to include China's RMB as foreign currency reserve

http://news.xinhuanet.com/english/business/2014-09/13/c_126981640.htm

Anyone who might like to think or want to believe Washington and Wall Street are sitting on their hands while China takes control of the world is off their rocker.

Happening here is that London and Luxembourg are competing to outdo the other in international trade and banking. China is a major player in global trade so this gives London a leg up on Lux. Paris and Bonn are in the bidding too.

For a look at the CCP Boyz in Beijing, gold, a global reserve currency and/or global currency of trade, try this link: https://www.bullionstar.com/blog/koos-jansen/china-aims-official-gold-reserves-8500t/

Meanwhile, given that you mention the CNY, it is interesting that Yahoo News carried the article below which originally appeared in Business Insider.

About three months ago Yahoo News was banned in the PRChina by the CCP Boyz in Beijing. Yahoo News is shut out of the PRChina by the CCP Boyz, completely blocked, completely censored out by the CCP's Great Firewall of China. Google has been shut out all year by the CCP Boyz and it looks like there's no going back on either side in this one. Xi Jinping demands obedience, 100% period.

Don't have to look much or far to see why....

China's Banks Are Getting Ready For A Debt Implosion

By Linette LopezOctober 16, 2014 1:03 PM gallery

China's banking system has piled up the most bad loans of any time since the financial crisis, and the banks are preparing for the moment those debts collapse. Especially in corporate and property sectors, things are looking dire,

To Societe Generale analyst Wei Yao, this just adds fuel to China's debt fire. "The cure should be capacity consolidation and debt restructuring, rather than another stimulus package targeted to boost investment demand," she wrote in a recent note.

http://finance.yahoo.com/news/chinas-banks-getting-ready-debt-170325658.html

Last month real estate giant Agile Property Holdings scared the wits out of investors when the $20 billion development company canceled a $360 million share offering because its chairman, billionaire Chen Zhuolin suddenly disappeared.

In March the real estate major Zhejiang Xingrun Real Estate Co. collapsed under $571 million in debt. (1 USDollar = 6 CNYuan)

Zombiefied

China Flinched

China flinched again.

The country's central bank will inject $32 billion into the country's banking system, according to The Wall Street Journal. The capital will go to 20 major and regional banks.

Banks are already holding a lot of debt on their balance sheets as the country's debt to GDP level hit 250% this summer.

Banks are doing whatever they can to raise some cash to stay afloat and they worry of implosions across sectors the government once propped up (like housing, of course).

Read more: http://www.businessinsider.com/china-injects-32-billion-into-banks-2014-10#ixzz3IVEf0VBe.

Edited November 8, 2014 by Publicus

[NeverSure]

Unemployment as of today is at 5.8% which is the lowest level in umpteen years since Geo W Bush created almost as much joblessness as Herbert Hoover. The current data isn't perfect, it just keeps steadily moving in the right direction.

Now pay working stiffs that work long and hard hours a new minimum wage so the government's transfer programs can be further reduced.

The US continues on the upswing while Russia and China continue to crumble. Brazil isn't doing very well either and India remains India.

" China continue to crumble "

Britain to include China's RMB as foreign currency reserve

http://news.xinhuanet.com/english/business/2014-09/13/c_126981640.htm

Anyone who might like to think or want to believe Washington and Wall Street are sitting on their hands while China takes control of the world is off their rocker.

Happening here is that London and Luxembourg are competing to outdo the other in international trade and banking. China is a major player in global trade so this gives London a leg up on Lux. Paris and Bonn are in the bidding too.

For a look at the CCP Boyz in Beijing, gold, a global reserve currency and/or global currency of trade, try this link: https://www.bullionstar.com/blog/koos-jansen/china-aims-official-gold-reserves-8500t/

Meanwhile, given that you mention the CNY, it is interesting that Yahoo News carried the article below which originally appeared in Business Insider.

About three months ago Yahoo News was banned in the PRChina by the CCP Boyz in Beijing. Yahoo News is shut out of the PRChina by the CCP Boyz, completely blocked, completely censored out by the CCP's Great Firewall of China. Google has been shut out all year by the CCP Boyz and it looks like there's no going back on either side in this one. Xi Jinping demands obedience, 100% period.

Don't have to look much or far to see why....

China's Banks Are Getting Ready For A Debt Implosion

By Linette LopezOctober 16, 2014 1:03 PM gallery

China's banking system has piled up the most bad loans of any time since the financial crisis, and the banks are preparing for the moment those debts collapse. Especially in corporate and property sectors, things are looking dire,

To Societe Generale analyst Wei Yao, this just adds fuel to China's debt fire. "The cure should be capacity consolidation and debt restructuring, rather than another stimulus package targeted to boost investment demand," she wrote in a recent note.

http://finance.yahoo.com/news/chinas-banks-getting-ready-debt-170325658.html

Last month real estate giant Agile Property Holdings scared the wits out of investors when the $20 billion development company canceled a $360 million share offering because its chairman, billionaire Chen Zhuolin suddenly disappeared.

In March the real estate major Zhejiang Xingrun Real Estate Co. collapsed under $571 million in debt. (1 USDollar = 6 CNYuan)

Zombiefied

China Flinched

China flinched again.

The country's central bank will inject $32 billion into the country's banking system, according to The Wall Street Journal. The capital will go to 20 major and regional banks.

Banks are already holding a lot of debt on their balance sheets as the country's debt to GDP level hit 250% this summer.

Banks are doing whatever they can to raise some cash to stay afloat and they worry of implosions across sectors the government once propped up (like housing, of course).

Read more: http://www.businessinsider.com/china-injects-32-billion-into-banks-2014-10#ixzz3IVEf0VBe.

100 likes if I had them.

"the country's debt to GDP level hit 250% this summer."

Note that the US is at about 90%, the UK is just over 100% (Whooda thunk the UK was in debt worse than the US after listening to the incessant noise from UKers) and Japan is right about where China is.

I wonder if this 250% includes the massive Chinese Shadow Banking System which isn't officially recognized?

China is tits up and waiting for the other shoe to drop.

Edited November 8, 2014 by NeverSure

[Publicus]

The shadow banking system in the PRChina is included in the GDP calculation and it is frightening when one looks at the estimates of it because no one except the CCP Boyz know the sums of money involved in it. However, even the CCP Boyz in Beijing don't know and can't possibly know the full value or impact of the shadow banking system on either GDP or the everyday economy.

First things first however, which is the estimate by Credit Swiss that shadow banking accounts for 44% of GDP. That is a breathtaking amount as a part of the CCP's GDP or anyone's GDP as a single sector of the economy. That's around USD $3+ Trillion.

Private entrepreneurs in the private sector are locked out of the official banking sector, which caters only to the state corporations, so private businesses use the shadow banking system. The consequence in calculating this aspect in to GDP is that the government gets a solid handle on these amounts of lending and capital activity of just about every kind.

It's what the CCP in Beijing doesn't know that is killing 'em, so to speak.

The CCP in Beijing can only guess at all the underground activity going on in the shadow banking system, to include the corruption of the CCP's own officials throughout the country.

The triads and other mafia control a lot of shadow banking activities and don't report anything to Beijing. When one thinks of how much more of GDP that's not calculated into the GDP amount is secretly controlled because of CCP corruption and triad goings on, shadow banking will exceed 50% of the government's official GDP figure every time, meaning of course each year.

The Boyz can change interest rates but that doesn't impact underground shadow banking, not directly. The Boyz can throw out stimulus but it doesn't directly impact black market shadow banking until velocity has well begun. The Boyz can change bank regulations, reserve requirements etc but that is unnoticed or ignored by the many triad shadow bankers.

The Boyz don't have a handle on their economy or their financial system. Never have had a handle on it. Never will either.

[chuckd]

The unemployment figure is actually pretty spot on. Chuck throws this 11.5 % figure that got skewed when retirees were forced to reenter the work force in 08/09 when pensions and retirement funds lost 60% or more in some instances.

Guess what, they dropped back out of the workforce because their retirement or pensions are back up and they don't have to work.

The other misleading data here is trying to count those of student age that focus on full time studies or work seasonal jobs. That they dropped out of job market is also positive.

There are problems in certain sectors of our population job wise, but you guys continue to focus on misleading political rhetoric bs.

Got any links to provide us showing retirees are and have been driving the U-6 unemployment rate?

I'd be interested in seeing them.

The college age drop outs isn't all necessarily rosy as you would lead us to believe. How many simply became discouraged and have left the job market as a result.

Your blanket statements are, perhaps, a little too broad.