Monday, July 1, 2013

Global Economic Issues,Geopolitics, and Financial Markets

Joseph Schumpeter, the originator of the phrase “creative destruction,” authored a less well-known corollary at some point in the 1930s. “Profit,” he wrote, “is temporary by nature: It will vanish in the subsequent process of competition and adaptation.”  (Bill Gross)


Canada Housing Crash Could Take Economy Down With It, Analyst Says

 Canadian Housing Bubble 'Set To Burst,' The Economist Says

Debt In Canada

'Race to the bottom' that sank the U.S. better not happen here, Canada's finance minister warns banks
(He's shutting the barn door after he has already allowed the horses to bolt.)

CMHC Seeks CEO With Risk Management Experience
(Bad omen? Bank of Canada governor and CMHC CEO leave in the same month.)

Rest of the World

The True Chinese Credit Bubble: 240% of GDP, and Soaring

China braces for capital flight and debt stress as Fed tightens

Risk of Bank Failures Is Rising In Europe, E.C.B. Warns

Has The Next Crisis Begun? (Japan)

Kyle Bass: "The Next 18 Months Will Redefine Economic Orthodoxy For The West"

World Bank warns on Fed tightening shock for emerging markets

Albert Edwards: "One of the biggest economic bubbles is going into the Minsky Masher" (Australia)

Risk of Bank Failures Is Rising In Europe, E.C.B. Warns

The "War on Savers" Myth

World Faces Lost Decade of Joblessness - ILO Warns

America's Most Profitable Export Is Cash

For Those Wondering If The Unemployment Situation Is Cyclical or Structural

Federal disability trust fund on the brink (U.S.)

Lack of Character?

Capitalism Might Be Making Us Evil

Would Thatcher Succeed Now?

We have already tried Libertarianism - It was called Feudalism

Change to come slowly after election of Iranian moderate
Iran is using the exact same political system as the U.S. (good cop / bad cop) . Obama vs. Congress, Rohani vs. Supreme Leader Ayatollah Ali Khamenei