Daily Archives: October 7, 2015

Dealer: “VW fraud dwarf’s Ponzi and Madoff combined”

As we discussed in Further thoughts on the emissions Scandal, the VW fraud is of epic proportions and will have compounded costs over at least several quarters for the company and Germany’s (therefore Europe’s) leading sector. See, New VW CEO: … Continue reading

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Monthly chart of the S&P 500

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Oil hopes spring eternal

Weakening economic data continues to undermine the case for a 2015 US rate hike (despite naive hopes of the Fed). The U$ rally (underway since 2008) has responded with consolidation over the past couple of weeks. This on top of … Continue reading

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Some ‘concrete’ thoughts on ‘sub-merging’ China

Some good big picture in this clip. Former U.S. Treasury Secretary Lawrence Summers discusses risks from emerging markets and the changing nature of China’s economy. Here is a direct video link.

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Global recession in motion

Although Willem Buiter works for Citigroup, he is close to retirement and more apt to call things as he measures them rather than simply spew the usual sell-side swill. His base case is that the world is heading into the next … Continue reading

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