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Perspective Economist - Climbing without ropes 6/8 * "A series of remarkable feats increases the appeal of a niche sport." FT - Diplomatic victory for China as Panama ditches Taiwan - Ben Bland 6/13 * "Panama has cut ties with Taiwan and established diplomatic relations with China, as Beijing intensifies
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Worthy Insights / Opinion Pieces / Advice FT - The era of 'deflationary progress' means betting on automation - David Eiswert 5/3 * "Investors need to come to reconcile themselves to the contradiction of progress and slower growth." A Wealth of Common Sense - Experts on an Earlier Version of the
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Worthy Insights / Opinion Pieces / Advice * ZeroHedge - Canada's Housing Bubble Explodes As Its Biggest Mortgage Lender Crashes Most In History - Tyler Durden 4/27 * "Call it Canada's 'New Century' moment." * "We first introduced readers to the company we said was the '
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Toronto housing market – heads up, your peak has been called. Sometimes money just needs a home (in a foreign country). First, Happy St. Patrick's Day! Headlines FT - China tries to restrict access to foreign children's books 3/10. Hearts and minds. Bloomberg - Saudi Arabia Says It
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The insurance industry in China has been good business – too good. What is the magic number for China’s foreign exchange reserves? What gives – why haven’t the share buybacks by US corporates juiced returns (passive investing)? Headlines FT - Samsung heir Lee Jae-yong charged with bribery 2/28. Lee
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Chinese companies stashing cash ($110bn) in wealth management products. Italian banking sector depending on UniCredit? Headlines FT - Bank of Japan intervenes to buy 10-year JGBs 2/3. Well for now it appears that the Bank of Japan's tolerance for the Japanese 10-year bond is about 0.
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A review – how India and Indonesia have gone about chasing tax revenue. Global bond sales hit a record in 2016 led by corporations. US housing gains highlight the growing economic divide. First, Happy New Year! Headlines * NYT - China's 'Godfather of Real Estate' Pitches Reverse Mortgages to
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China no longer the largest US creditor – Japan is again. China capital outflows, have you looked at the bank loans? Brazil’s Odebrecht just got served the FCPA’s largest settlement. Happy Holidays! Headlines * FT - Ferocious competition roils private equity market 12/17. Deal volume is down, acquisition multiples are
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You can be certain that China is doing what it can to buy local. A US municipal pension crisis takes center stage in Dallas. Yeah, interest rates are going up – oh wait, what… Headlines * FT - Casino stocks jolted by Macau ATM limit reports 12/8. When word spread that ATM
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Inflation running away in Venezuela. The ‘whale’ in the market is you – or really your proxy by way of the government. Barbarian insurers in China are pissing off the securities regulators. China’s banks hiding more than $2tn in loans. A rise in US interest rates are likely to put
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Chinese corporate debt…geez…Someone’s going to have to take a haircut. US pension crisis. Headlines * WSJ - China's Property Bubble Keeps Getting Bigger 9/19. "With so many parties including banks and local governments all depending on real estate, it may not make sense for them
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Whoa, that’s a lot of corporate debt… So, who is going to pay for China’s corporate debt balance? High Yield Bond Market decoupling from reality. Headlines * WSJ - Hanjin's Demise: Why Global Shipping Glut Isn't Going Away 9/2. "Despite efforts to consolidate and