Sunday, May 22, 2016

China's Madoff Moment: Panic On Deck

"Has anyone seen Bernie?"

Missing corporate stamps, shuffled assets and disappearing executives have become the hallmarks of debt distress in China. Investors are starting to lose patience.

“The erratic bond defaults have scared investors. They don’t know where to look for the next one to default. You can’t find the answers in companies’ financial books. Those defaulted didn’t necessarily have the worst financials. ”

Yes they did.

Spot the Idiocratic desperation:
0% is hunting idiots into extinction

Meanwhile, this just in from Bloomberg, Japan is absolutely imploding. A stronger currency increases imports?

Not in the land of the setting sun:
This puts more strengthening pressure on JPY, since the trade (im)balance was $7 billion positive...

Supply-Side Ponzinomics