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Russia To Freeze Oil Output As Putin Takes Part In The VII Chamber Of Commerce And Industry Congress (Speech Script)
The Congress is dedicated to a review of the activities of the Chamber of Commerce and Industry during the past five years, development of small and medium-sized business in the regions, Russian companies’ entry into foreign markets and ways of attracting investment. * * * President of Russia Vladimir Putin: Good afternoon, colleagues. I would like to begin by thanking you for your invitation to take part in this Congress of the Chamber of Commerce and Industry – one of the largest business unions with … Continue reading
Plunging Manufacturing Numbers Mean That It Is Time To Hit The Panic Button For The Global Economy
By Michael Snyder We haven’t seen numbers like these since the last global recession. I recently wrote about how global trade is imploding all over the planet, and the same thing is true when it comes to manufacturing. We just learned that manufacturing in China has now been contracting for seven months in a row, … Continue reading
Why Saudi Arabia Will Keep Oil Prices Low: 3 Reasons
By Andrew Manners Despite a tentative agreement struck last week to freeze oil production, Saudi Arabia is likely to keep oil prices low for the foreseeable future. Last week Saudi Arabia, Venezuela, Qatar, and Russia reached an historic agreement to cap oil production at mid-January levels. The pact – the first between OPEC and a … Continue reading
China’s Credit Rating Outlook Lowered To Negative By Moody’s
The outlook on China’s credit rating was lowered from stable to negative by Moody’s Investors Service on Wednesday as they cite a weakening of fiscal metrics, a continuing fall in foreign exchange reserves, and uncertainty about implementation of reforms. According to Moody’s, the key drivers of China’s outlook revision are: The ongoing and prospective weakening of fiscal metrics, … Continue reading
The New Silk Roads And The Rise Of The ‘Chinese Dream’
By Pepe Escobar Beijing is advancing a Chinese-led globalization that will challenge U.S. hegemony both regionally and globally. Earlier last week, the first Chinese commercial train, with 32 containers, arrived in Tehran after a less than 14-day journey from the massive warehouse of Yiwu in Zhejiang, eastern China, crossing Kazakhstan and Turkmenistan. This is a 10,400 … Continue reading
Increasing Price Inflation Is Not A Sign Of Healthy Recovery, But The Last Stage Before Recession
By Eugen von Böhm-Bawerk In a recent article by Kessler Companies (hat tip Zerohedge) they correctly point out that inflation, as measured by the consumer price index, have a tendency to accelerate as the US economy moves into a recession. Contrary to popular belief, the beginning of a recession is not deflationary but the exact opposite. … Continue reading
China’s Newest Export: Empty Buildings
By Michael Pento, Pento Portfolio Strategies A little over six months ago the owners of the Baha Mar, a $3.5 billion Bahamian resort, filed for bankruptcy. Shoddy construction from the China State Construction Company led to delays resulting from leaking plumbing, porous Chinese concrete and large cracks at critical stress points. The doomed project even … Continue reading
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