Red Ponzi Fades

Goldman: China’s Caixin manufacturing PMI fell to 50.9 in February from 51.5 in January, though still in expansionary territory. Most sub-indexes implied growth momentum moderated in the manufacturing sector. The production sub-index dropped to 51.9 in February from 52.5, and the new orders sub-index fell to 51.0 from 52.2. The new export order sub-index edged up onlyContinue reading “Red Ponzi Fades”

The Red Ponzi Outlines Its Expectations from China Joe, the Oligarch Sock Puppet — Or Else [Jeff Bezos, Tim Cook, Tom Dorsey, …]

And Blinken blinks From Epoch Times: Beijing Hints at What It Wants of US-China Relationship Through State Media BY NICOLE HAO February 9, 2021 Updated: February 9, 2021 Chinese state-run media Xinhua published a series of four commentaries in which it called on the new U.S. administration to “lead the U.S.-China relationship back on track” after years ofContinue reading “The Red Ponzi Outlines Its Expectations from China Joe, the Oligarch Sock Puppet — Or Else [Jeff Bezos, Tim Cook, Tom Dorsey, …]”

Econo-Bio War and China Joe

The Red Ponzi’s bio-econo war that began in 2020 certainly delivered the goods: December trade surplus up 34$ YoY and setting monthly records in wealth transfer from the US. And, of all things that leads the transfer is … wait for it … healthcare/covid-related products. With China Joe and their paid agents in Congress andContinue reading “Econo-Bio War and China Joe”

Red Ponzi Debt Market

Investor confidence in China Fortune Land Development Co. Ltd. is tumbling as concerns grow about its debt repayment abilities just as Beijing steps up efforts to cut risk in the real estate sector. The mid-sized developer’s dollar bonds fell to record lows earlier Tuesday, with some rebounding but a note due 2024 still down at 49.8 centsContinue reading “Red Ponzi Debt Market”

Death of the Middle Class – Killed by Deficits, Stimulus, and the Monetary Politburo

My old professor, Murray Rothbard, explained the dynamics decades ago: “The first people to get the new money are the counterfeiters, which they use to buy various goods and services. The second receivers of the new money are the retailers who sell those goods to the counterfeiters. And on and on the new money ripplesContinue reading “Death of the Middle Class – Killed by Deficits, Stimulus, and the Monetary Politburo”

Lies, Damn Lies, and Statistics

Maybe Chinese exporters are overstating their exports, in general and to the United States. Overstating exports is a classic way of getting capital into a country with capital controls. Or, maybe US tariffs have created a strong incentive for firms importing into the United States to go to some lengths to understate their imports from China. Thus, U.S.Continue reading “Lies, Damn Lies, and Statistics”

Hostile Power – the source of US fentanyl addictions adds narco-terrorist money laundering to their portfolio

“Routing cartel drug profits from the United States to China then on to Mexico with a few clicks of a burner phone and Chinese banking apps – and without the bulky cash ever crossing borders. The launderers pay small Chinese-owned businesses in the United States and Mexico to help them move the funds. Most contact withContinue reading “Hostile Power – the source of US fentanyl addictions adds narco-terrorist money laundering to their portfolio”

Red Ponzi Defaults

Like Red Ponzi issues? Like cliff diving? Catching falling knives? As WSJ reported in their story, it’s been a lot of “unwelcome surprises” for those who believe Red Ponzi financial statements (too funny – there are such people). Sort of like those who believe there is no voter fraud. Yongcheng Coal & Electricity Holding GroupContinue reading “Red Ponzi Defaults”