“In China the fingerpointing over who is responsible for China’s economic mess has begun.”
“The currency war has arrived. So say some of the best and brightest in the $5.1 trillion-per-day foreign-exchange market.”
“‘We should prohibit U.S. persons from buying or mining cryptocurrencies,’ the California Democrat – whose largest donor is credit card processor Allied Wallet – declared.”
Read more: https://www.coindesk.com/u-s-congressman-calls-for-national-ban-on-crypto-ownership/
“The White House budget office now estimates that the deficit will rise to nearly $1.1 trillion in the fiscal year that begins this October, or 5.1% of gross domestic product, up from $984 billion projected in February’s budget proposal. The U.S. ran a deficit of $666 billion for the fiscal year that ended Sept. 30, 2017, or 3.4% of GDP.”
“Roughly 15,000 Boers are ready to leave their country and begin a new life in Russia.”
Read more: https://www.rt.com/business/433772-boers-sa-russia-resettlement/
“In private conversations, investors, entrepreneurs and economists admit that with the high debt level and a trade war with the United States, the room for government maneuvering is shrinking. The degrees of pessimism vary, but many of them are bracing for a tough ride ahead. They told me to change all my savings into gold, a risk-management measure for extreme times. They worry that the trade war will hurt the tech and the venture capital industries because they operate globally.”
Read more: https://www.cnbc.com/2018/07/17/latest-sign-of-chinas-slowdown-a-technology-cash-crunch.html
“About $1 trillion worth of stocks listed in China’s two main markets, Shanghai or Shenzhen, are being pledged as collateral for loans. This trend has exploded in the past three years.”
“Beijing once again changed the game with their aggressive deleveraging campaign, which sent shadow credit creation crashing to record lows just last month.”
“Former President Richard Nixon arm-twisted Arthur Burns to maintain loose monetary policy as Nixon sought re-election in 1972. That didn’t work out particularly well: As the 1970s economy continued to grow, inflation took root thanks to low rates and remained stubbornly in place until the early 1980s.”
Read more: https://www.cnbc.com/2018/07/19/trumps-fed-criticism-is-nearly-without-precedent-in-us-history.html
“U.S. border officials won’t release the money, deeming it ‘counterfeit.'”