Monday, January 11, 2016

Economic News , Data & Views ( January 11 , 2015 ) - David Bowie's Majestic Passage ( Who knew he was even ill , when you get down to it ? ) And some of his songs to listen to while considering several pertinent topics of the day - 1 ) Merkel's mess aka refugee / migration unfolding debacles . 2) China's Rube Goldberg Construct Really , Really Needs " Scotty The Engineer From Star Trek To Give Her All She's Got . 3) You Know Greece Is Still Lurking Out There , Like A Terminator , Waiting To Burst Into Crisis At Any Moment, right ? 4. Oil Cruising For A Bruising After Another Brutal Day. Thirty Support Test On Tuesday ?

Mixing sad news of the passage of David Bowie Sunday night from cancer , with this evening wrap.....Music for your listening pleasure while reading. Not necessarily a comment on tweets , unless it is........

Evening wrap......

Refugee situation ......

Will Germany's Refugee Crisis Take Down Merkel's Government?

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Refugee crisis: Germany reinstates controls at Austrian border

Merkel: Europe vulnerable in refugee crisis: German Chancellor Angela Merkel said Europe was ''vulnerable'' in...

Germany sends migrants back to Austria: Germany has been sending back an increasing number of migrants back to...

Merkel says Europe is 'vulnerable' in because it is not yet in control of the situation

Actually , Poland , Slovakia , Hungary and the Czech Republic are saying " We told you so " , to Germany."

Our most read last week: Cover-up claim over NYE mass sexual assaults

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German Biker Gangs, "Hooligans" Attack Foreigners In Migrant "Manhunts"

Anything big enough to persuade 1) Syrians to stay put and wait; 2) Turkey/Leb/Jor to make life better for those not resettled.

China melee......

"It is pure imagination that the Chinese yuan will act like a wild horse without any rein" Han Jun, top gov eco guy

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Shanghai Comp fails to hold onto opening gains, briefly dropping below the 3000 level

PBoC refrains from any significant devaluation of the for the 3rd consecutive day

China Holds Yuan Fix Flat For 3rd Day As PBOC Proclaims Devaluation Chatter Is "Ridiculous & Humorous"

PBoC Fixes Yuan Reference Rate At 6.5628 (prev 6.5626)

The Cost Of China's "Neutron Bomb" Exploding: $7.7 Trillion And Higher

What happens when you have 21% NPL with virtually unlimited rehypothecation of Chinese collateral? Can Loss Given Default be > 100%?



China's Hard Landing To Trigger Meltdown In India: "We Will See Another Crisis"

Yuantervention Extreme - Offshore Yuan Explodes 850 Pips Higher, Biggest Jump Ever

China Warns No "V-Shaped" Recovery Is Coming; Says "There Will Be No Strong Economic Stimulus"

's cabinet to have greater financial supervision role.
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The next turmoil in HK after CNH squeeze, HKD HIBOR 3-mth stays at 0.39%, but USD LIBOR is shooting higher to 0.62%. Capital outflow .

Big 3 banks are not just squeezing CNH higher for PBoC in HK, they are really remitting the RMB back to mainland to CNY.

CNH +800 pips, last seen Sep.10 and CNH rally... No wonder HK CNH HIBOR broke record today!

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CNH rally >550 pips from 6.6825 to 6.6250, US index futures rally...

LME copper is falling to another new 6-1/2 years low.

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resisting the will result in more extravaganzas to come.

Government tries to tweak pension proposal

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SYRIZA Govt Vexed by New Democracy Leadership Election Outcome

‘Lagarde List’ Scandal Takes a New Twist

From Espresso: Greece's finance minister faces a tough sell to try reduce his country's debt

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's should reduce state's role in society - gov't official

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2016 another tough year for . At center overhaul of pension system w/ small majority.
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Macedonia builds 10ft razor fence along border with Greece ahead of spring migrant influx -
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Oil price turmoil weighs heavy on African, Gulf Eurobonds

U.S. crude prices approach 20% plunge since start of year

In light of low prices and domestic consumption trends, Arabia is dialing back energy subsidies

WTI sports a thirty handle - $30.91 L.O.D , so far.

If this is accurate , all the wheels are falling off for global trade in real time.

price to slide towards $20 a barrel, warns Morgan Stanley -
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MS: With WTI approaching $30, this oil price downturn now deeper and/or longer than any other downturn since 1970

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Crisis in Middle East used to mean oil price spike. Now no end of ME crises can't stop oil price from falling. Brave new world.