People’s Bank of China Freaks Out, Devalues Yuan by Record Amount, Vows to “Severely Punish” Capital Flight by Wolf Richter • Aug 11, 2015 • 18 Comments A “one-time correction,” a PBOC spokesman said, which everyone believed instantly.
Worst Year for Car Sales in Japan since Earthquake by Wolf Richter • Aug 10, 2015 • 6 Comments Abenomics Mauls Japanese Households.
The Oil Train Boom Is Over, Railroads Get Slammed by Oilprice.com • Aug 10, 2015 • 1 Comment Shipments of coal are drying up too.
Airbnb and its Hosts Hung Out to Dry in Barcelona by Don Quijones • Aug 10, 2015 • 11 Comments The Big Shakedown of Airbnb hosts.
China’s Hard Landing Suddenly Gets a Lot Rougher by Wolf Richter • Aug 9, 2015 • 14 Comments “We could see relatively strong downward pressure” – Chinese government.
Corporate Dollar Debt Explodes in Mexico as Peso Dives by Don Quijones • Aug 8, 2015 • 5 Comments Recipe for a debt crisis.
The Great Unwind Has Begun, Bankruptcies Soar by Wolf Richter • Aug 7, 2015 • 22 Comments A year that “makes false prophets” of those who assumed there’d be no shocks.
The Saudi Oil Price War Backfires by Oilprice.com • Aug 7, 2015 • 28 Comments “This requires more patience” – the Saudi Central Bank.
The Seventh-Largest Economy in the World Spirals Down by Wolf Richter • Aug 6, 2015 • 7 Comments Even HSBC, which knows a thing or two about the world, is bailing out.
It’s “Impossible to Pay Nothing” to Vulture Funds, Suddenly Says Argentine Economy Minister by Bianca Fernet • Aug 6, 2015 • 4 Comments After vowing for years to never pay the vultures?