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Countdown to Financial Armageddon
Tracking the final days of the debt bubble
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China's epic hangover begins?

China's epic hangover begins? | Countdown to Financial Armageddon | Scoop.it

It is hard to obtain good data in China, but something is wrong when the country's Homelink property website can report that new home prices in Beijing fell 35pc in November from the month before. If this is remotely true, the calibrated soft-landing intended by Chinese authorities has gone badly wrong and risks spinning out of control.

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China warns over exports slowdown

China warns over exports slowdown | Countdown to Financial Armageddon | Scoop.it

It was kind of inevitable: China warns of "severe challenges" to its exports due to falling demand in the US and Europe and will target developing markets.

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LATEST CURRENCY WAR SALVO: Obama to China: "Enough's enough" - Behave like grown up economy

LATEST CURRENCY WAR SALVO: Obama to China: "Enough's enough" - Behave like grown up economy | Countdown to Financial Armageddon | Scoop.it

HONOLULU (Reuters) - President Barack Obama served notice on Sunday that the United States was fed up with China's trade and currency practices as he turned up the heat on America's biggest economic rival.

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China refuses to commit to European bailout fund

China refuses to commit to European bailout fund | Countdown to Financial Armageddon | Scoop.it

China refuses to commit to the European Financial Stability Fund until the situation with Greece has been clarified.

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The Dragon's long tail risk: the cost of a 'what if China crashed' doomday scenario

The Dragon's long tail risk: the cost of a 'what if China crashed' doomday scenario | Countdown to Financial Armageddon | Scoop.it

(Reuters) - The China hard-landing debate is a classic tail risk story -- an unlikely scenario, but if it materializes the consequences could be catastrophic.Because of their close trade links, Malaysia,...

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China Cuts Off World's Rare Earth Metal Supply (it now controls 97% of total output)

China Cuts Off World's Rare Earth Metal Supply (it now controls 97% of total output) | Countdown to Financial Armageddon | Scoop.it

China only has about 30 percent of the world's rare earth metal deposits, but thanks to clever planning it today controls 97 percent of the world's production of these scarce resources. Deposits of this family of 17 elements -- vital to power electronics found in televisions, smart phones, electric vehicles, and a variety of other devices -- are found in California, Canada, Australia, and Russia, but it will take years to bring them online.

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China cuts its US debt holding by $36.5 billion - the biggest sell off since 2000

China cuts its US debt holding by $36.5 billion - the biggest sell off since 2000 | Countdown to Financial Armageddon | Scoop.it

China divested $36.5 billion or 3.1 per cent of its holding in the US treasuries in August, its biggest sell-off of dollar assets since 2000.

The move came as a surprise as China had bought over bonds worth $8 billion weeks before that.

Downgrade of US credit ratings by Standards & Poor's, in early August, had created a major crisis of confidence over US treasuries all over the world.

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Pow! China Signals Weaker Currency After U.S. Senate Vote

Pow! China Signals Weaker Currency After U.S. Senate Vote | Countdown to Financial Armageddon | Scoop.it

For the second consecutive day after a U.S. Senate vote aimed at penalizing China for undervaluing its currency, Beijing lowered the range at which the yuan could trade against the dollar.

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War! US Senate Passes China Yuan Bill

War! US Senate Passes China Yuan Bill | Countdown to Financial Armageddon | Scoop.it

The US Senate votes through a bill which aims to punish China for keeping its currency artificially undervalued.

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Washington Goes to War With China Over Currency Manipulation

Washington Goes to War With China Over Currency Manipulation | Countdown to Financial Armageddon | Scoop.it

After eight years, that campaign is on the verge of a breakthrough, as the Senate appeared ready Thursday to approve a get-tough approach that had stalled numerous times before: a bill to punish China with high tariffs on some exports if it fails to adopt a market-driven exchange rate.

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Sino Contagion? S.M.E. credit crisis 'could sweep China'

Sino Contagion? S.M.E. credit crisis 'could sweep China' | Countdown to Financial Armageddon | Scoop.it

The failure of a number of small and medium-sized businesses in Wenzhou marks the beginning of a much larger wave of corporate bankruptcies across the rest of China, economists warn.

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Let The Resource War Commence! China Surpasses US as World's Top Energy Consumer

Let The Resource War Commence! China Surpasses US as World's Top Energy Consumer | Countdown to Financial Armageddon | Scoop.it

That moved China ahead of the United States as the world's biggest consumer of energy, accounting for 20.3 percent of global demand compared with 19 percent for the U.S., the report said. Global energy consumption rose in 2010 at the fastest pace since 1973, as fast-growing developing nations led a strong rebound from recession, according to a survey released Wednesday.

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Bloomberg Poll: Sixty One Percent respondents predict Chinese credit crisis by 2016

Most global investors predict China will face a banking crisis within the next five years, paring their appetite for the nation's shares and eroding confidence in its leadership, a Bloomberg Global Poll indicated.

 

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Factories stall worldwide and U.S. jobless claims rise

Factories stall worldwide and U.S. jobless claims rise | Countdown to Financial Armageddon | Scoop.it

(Reuters) - Manufacturing activity is contracting across Europe and most of Asia, data showed on Thursday, and a Chinese official declared that the world economy faces a worse situation than in 2008 when Lehman Brothers collapsed.

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America and China must crush Germany into submission

America and China must crush Germany into submission | Countdown to Financial Armageddon | Scoop.it

As we watch Italy's 10-year bond yields near 7.5pc and threaten to detonate the explosive charge on €1.9 trillion of debt, it is time for the world to reimpose order.

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Lender of the last resort? EU seeks bailout funds from China

Lender of the last resort? EU seeks bailout funds from China | Countdown to Financial Armageddon | Scoop.it

So not only is China propping up the US economy, it will now be asked to do the same for Europe! Are we now seeing the first geo-economic shift towards a new world economic pecking order?

 

The head of the eurozone's bailout fund begins attempts to persuade China to invest in the scheme to help rescue member countries facing debt crises.

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Doomsday hedging pushes China markets to extremes

The euro-zone debt crisis and fears of a U.S. recession have doomsayers unsurprisingly pricing in another global financial meltdown. More of a surprise is that they are taking no chances on China.

 

The world's second-biggest economy certainly has its problems. It is exposed to any global downturn. Accounting scandals at U.S.-listed Chinese firms have tainted investor perception and a mountain of local government debt has raised worries about the health of Chinese banks.

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5 Reasons Why the Dow Will Fall to 10,000 by June 2012

You can't blame investors for feeling a bit cautious regarding the Dow Jones Industrial Average's (DJIA) recent push from 10,700 to 11,140 in the past month. The stock market's bears say it's a false rally, and the Dow is likely to fall.

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China's economic growth slows (a bit)

China's economic growth slows (a bit) | Countdown to Financial Armageddon | Scoop.it

If only Western economies could grow by a fraction of this! China's economic expansion slows during the third quarter of the year as government measures to control inflation hurt growth.

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Slowdown in China's trade growth

Slowdown in China's trade growth | Countdown to Financial Armageddon | Scoop.it

China's Exports rose 17.1% in September, from a year earlier, but fell from a 24.5% growth in the previous month. Meanwhile, imports rose 20.9%, down from a 30.2% jump in August.

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China's debt pileup raises risk of hard landing

China's debt pileup raises risk of hard landing | Countdown to Financial Armageddon | Scoop.it

When China announced a nearly $600 billion package to ward off the 2008 global financial crisis, city planners across the country happily embarked on a frenzy of infrastructure...

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Why China's Economy is on the Edge of a Nervous Breakdown

Over the past several weeks, a number of news reports and market figures have caught my attention, which appear to indicate that China’s economy may be approaching a crisis. I use the word “crisis” in the traditional (or medical) sense, meaning a critical turning point when tensions or contradictions are resolved, for better or worse — sometimes in unexpected ways. 

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Don't Feel Left out - Join The Party! Debt Crisis Threatens China and Emerging Markets

Don't Feel Left out - Join The Party! Debt Crisis Threatens China and Emerging Markets | Countdown to Financial Armageddon | Scoop.it

Europe's banking woes have begun to set off a funding crunch in the emerging markets of Asia, Latin America, and Eastern Europe, leaving them nakedly exposed as the rich world slides into a double-dip downturn.

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