Stream of Reading (Prepare to be Forwarded) – An Archive of What I'm Reading
On Monday, after Greek PM Alexis Tsipras’ dramatic referendum call sparked a run on Greek ATMs, grocery stores, and gas stations, we did our part to help ameliorate the situation by sending a subtle message to Athens: Dear Greece, if you want to apply for a loan from the Asian Infrastructure Investment Bank, send an…
Submitted by Lance Roberts via STA Wealth Management, In yesterday’s discussion on the technical underpinnings of the market, I pondered the question of whether Greece was really the primary issue of concern for investors. “Whether, or not, a Greek exit from the Eurozone or a potential debt default is “the thing” that sparks the next…
Chinese stocks tumbled, sending the benchmark index into a bear market, as signs of an exodus by leveraged investors overshadowed the central bank’s effort to revive confidence with an interest-rate cut. The Shanghai Composite Index dropped 3.3 percent to 4,053.03 at the close, taking declines from its June 12 peak to more than 20 percent….
Following a week in which the Chinese stock bubble popped and a weekend in which the Eurozone bubble followed, it was all up to central banks to stabilize the devstation that would follow should the Plunge Protection Team, now global, not show up. And while US equities futures were looking grim overnight, China at least…
While Greece has understandably been the focal news event over the weekend – after all it has been 5 years in the making – let’s not forget that in another massive move, one geared squarely to prevent a market collapse and to avoid even further panic, the Chinese central bank cut both its policy rate…
TOKYO The euro fell almost 2 percent and share prices tumbled across Asia on Monday as Greece looked set to default on its debt repayment this week, forcing Athens to impose capital controls to halt bank runs. With the prospect of Greece being forced out of the euro in plain sight, the common currency…
Slouched deep in a swivel chair, knees bouncing up and down and hands gesticulating excitedly, Michael Pettis can’t contain his enthusiasm over “an explosion of creativity” in China’s underground rock music scene. Carsick Cars, the best-known band on Pettis’s music label Maybe Mars, has just won a semi-official award for exporting culture while another, Chui…