Mish's Global Economic Trend Analysis Sun 2010-02-07 18:15 EST

Nonperforming Loans in China Rise to "Trillions of Renminbi"

Michael Shedlock

Inquiring minds are questioning the solvency of the Chinese banking system. Please consider China Defaulting Loans Soar, Insolvency Lawyer Says. Non-performing loans in China have risen into the ``trillions of renminbi'' because of poor lending practices, an insolvency lawyer said...The US, led by Hillary Clinton and president Obama, is putting enormous pressure on China to float the RMB, in expectation that it would rise and US exports would soar. I believe that if China floated the RMB on the Forex markets, it might crash.

China rises; Mish's Global Economic Trend Analysis; nonperforming loans; renminbi; trillion.

naked capitalism Mon 2009-11-30 13:46 EST

Guest Post: One Reason that the Stock Market is Rising While Unemployment is Soaring

George Washington of Washington's Blog

Daniel Gross points out that part of the reason that the American stock markets are going up even though unemployment is rising and the real economy suffering is because multinational corporations headquartered in the U.S. are experiencing strong sales abroad...

Guest Post; naked capitalism; reasons; rising; Soars; stock market; unemployment.

Mish's Global Economic Trend Analysis Thu 2009-10-08 15:29 EDT

Competitive Currency Debasement - A Look at Rampant Monetary Expansion In China

Michael Shedlock

The Chinese central banks' printing and respective Chinese bank lending make us look like amateurs. Chinese central bank assets and the money supply are up 25-26% annualized YTD...nearly everyone is absolutely sure the Renminbi would soar if China allowed it to float. Conceivably it could crash...Neither the G-20 nor G-7 did anything to address the massive global imbalances. Something critical is going to blow sky high, when and what remains to be seen.

China; Competitive Currency Debasement; looking; Mish's Global Economic Trend Analysis; Rampant Monetary Expansion.

Mish's Global Economic Trend Analysis Sun 2009-09-20 11:08 EDT

Bank of America, Citigroup, Credit Card Defaults Soar To New Highs

Michael Shedlock

Last month's improvements in credit card defaults appears to be an outlier. Credit card defaults have resumed their natural tendency to track rising unemployment...Unemployment is likely to rise for another year, then flatten out so it is likely that card defaults keep rising for quite some time.

America; bank; Citigroup; Credit Card Defaults Soar; Mish's Global Economic Trend Analysis; new highs.

Mish's Global Economic Trend Analysis Wed 2009-08-26 16:00 EDT

Critically Under-Capitalized Banks Direct Result Of "Wonderful Chain of Stupidity"

Michael Shedlock

Last week the Wall Street Journal ran an article about how trust securities sank Guaranty Financial Group and six family-controlled Illinois banks in early July. Please consider In New Phase of Crisis, Securities Sink Banks. Federal officials on Thursday were poised to seize Guaranty Financial Group Inc., in what would be the 10th-largest bank failure in U.S. history. Guaranty's woes were caused by its investment portfolio, stuffed with deteriorating securities created from pools of mortgages originated by some of the nation's worst lenders. Delinquency rates on the holdings have soared as high as 40%, forcing write-downs last month that consumed all of the bank's capital. Guaranty is one of thousands of banks that invested in such securities, which were often highly rated but ultimately hinged on the health of... Security losses are a non-operating item and are listed after pre-tax operating income on the call report. This is very unusual and possibly reveals another cancer hiding on many banks balance sheets. those garbage trust-preferred securities problems are on top of the widely expected fallout from commercial real estate problems affecting small to medium-sized regional banks. Thus, banking woes are much deeper in many areas than either the FDIC or Fed is admitting.

Capitalized Banks Direct Result; Criticizes; Mish's Global Economic Trend Analysis; Stupid; Wonderful Chain.

Tue 2009-06-16 00:00 EDT

Mish's Global Economic Trend Analysis: FDIC Woefully Underfunded; Problem Institutions Soar

FDIC Woefully Underfunded; Mish's Global Economic Trend Analysis; Problem Institutions Soar.

Tue 2009-06-16 00:00 EDT

Mish's Global Economic Trend Analysis: Fannie Freddie Delinquencies Soar (and they are going to get much worse)

Fannie Freddie Delinquencies Soar; Go; Mish's Global Economic Trend Analysis; worse.

Tue 2008-11-25 00:00 EST

Jesse's Café Américain: US Treasury Default Swaps Soar to Records

Jesse's Café Américain: US Treasury Default Swaps Soar to Records

Jesse's Café Américain; records; Treasury Default Swaps Soar.

Tue 2008-10-07 00:00 EDT

Mish's Global Economic Trend Analysis: Real Price Of Gold Soars

``Deflation is here and now, the only question now is how long it lasts''

Gold Soars; Mish's Global Economic Trend Analysis; real price.

Mon 2008-07-21 00:00 EDT

McClatchy Washington Bureau | 07/19/2008 | Commercial bankruptcies soar, reflecting widening economic woes

by Tony Pugh

07/19/2008; Commercial bankruptcies soar; McClatchy Washington Bureau; reflecting widening economic woes.

Wed 2008-06-11 00:00 EDT

Mish's Global Economic Trend Analysis: Junk Bond Defaults Soar; Citigroup "Uneasy"

over credit line drawdowns

Citigroup; Junk Bond Defaults Soar; Mish's Global Economic Trend Analysis; uneasiness.

Sun 2008-06-01 00:00 EDT

The Great Oil Swindle: How much did the Fed really know?

The Great Oil Swindle: How much did the Fed really know? by Mike Whitney; soaring commodity prices "hoax cooked up by the investment banks and hedge funds...trying to dig their way out of the trillion dollar MBS mess", billions of Fed dollars diverted into commodities

Fed really know; Great Oil Swindle.

Mon 2008-04-21 00:00 EDT

Mish's Global Economic Trend Analysis: Vacancies Soar In Commercial Real Estate Bust

Commercial Real Estate Bust; Mish's Global Economic Trend Analysis; Vacancies Soar.

Sat 2008-04-05 00:00 EDT

Mish's Global Economic Trend Analysis: Unemployment Soars, Jobs Collapse

BLS employment statistics understating unemployment

Jobs Collapse; Mish's Global Economic Trend Analysis; Unemployment Soars.

Wed 2008-03-26 00:00 EDT

Grain prices soar globally | csmonitor.com

Grain prices soar globally, by Daniel Ten Kate | csmonitor.com; Asian rice shortages

com; CSMonitor; Grain prices soar globally.

Sat 2008-01-05 00:00 EST

Mish's Global Economic Trend Analysis: Unemployment Soars as Private Sector Jobs Contract

understating unemployment; birth/death adjustments added 1.3 million "jobs" since 2007-02

Mish's Global Economic Trend Analysis; Private Sector Jobs Contract; Unemployment Soars.

Tue 2007-12-11 00:00 EST

Mish's Global Economic Trend Analysis: Derivatives Trade Soars To Record $681 Trillion

"everal hedge funds are going to get carted out on a stretcher all at once and cause a cascade of defaults."

681 Trillion; Derivatives Trade Soars; Mish's Global Economic Trend Analysis; records.

Fri 2007-09-07 00:00 EDT

Mish's Global Economic Trend Analysis: Mass Layoffs Soar

BLS understating unemployment; 80% of headline payroll growth due to birth/death model estimates

Mass Layoffs Soar; Mish's Global Economic Trend Analysis.