“Hong Kong Property Losses Hit PE Funds After $17 Billion Rush” “….From Gaw Capital Partners to Schroders Plc, investors are facing a dilemma: Sink more cash into struggling properties or forfeit them to lenders…… …That’s eroding the collateral value behind many bank loans, which could lead to margin calls, refinancing challenges and in more severe cases distressed asset disposals. Blackstone is still paying the interest for its borrowing and has been in talks with Fubon bank, the people familiar said. The lender, meanwhile, hadn’t marked down the loan as of the first week of October, one of the people said…”

"China is re-liquifying its economy" - Michael Howell Over the past year, the People's Bank of China (PBOC) has injected ¥7 Trillion Yuan into money markets. "They've got to DOUBLE that." Full interview w/ @crossbordercap: shorturl.at/cWbW4

OUT NOW - Michael Howell's warning: - U.S. liquidity is falling (this is a "danger sign") - China is injecting ¥Trillions & pumping gold - "Next year won't be great for financial assets" Apple🔊shorturl.at/mZwJ6 Spotify🔊shorturl.at/cWbW4

🇺🇸 RAY DALIO: U.S. ECONOMY IS 2 SEPARATE COUNTRIES NOW, AND ONE IS SCREWED Billionaire investor Ray Dalio says you can't look at the U.S. economy "as a whole" anymore because the gap between winners and losers is too extreme. About 3 million people (1% of the population) in AI and tech are thriving, while the bottom 60% are struggling hard. Dalio: “If you’re looking at, let’s say, the AI world, and really what amounts to about three million people - 1% of the population - leading, and then the 5 or 10% around them, you have one world that the whole world is dependent on. And then you have the bottom 60% of the population. Consider this, 60% of the American population has below sixth-grade reading level. That’s tough, and with that [they’re becoming] unproductive, and because of those things you have a dependency, an extreme dependency.” The numbers back him up. 22 states are in recession while only 16 are growing. California and New York carry the entire economy on their backs. Wealth inequality has exploded since 2020. The top 0.1% nearly doubled their wealth from $12 trillion to $22 trillion. The bottom 50% gained just $2 trillion combined. The economy now runs on spending from the rich. If they stop, everyone else is toast. Source: Fortune

Show me any article from 1946-1986 showing that we were selling Corporate America to the USSR, our strategic rival. I’ll wait

Show me any article from 1946-1986 showing that we were selling Corporate America to the USSR, our strategic rival. I’ll wait

Show me any article from 1946-1986 showing that we were selling Corporate America to the USSR, our strategic rival. I’ll wait

Wang starts to get at the edges of the core problem of America’s decline vis-à-vis China’s rise. As I outlined in April for Compact, the problem is America cannot compete in manufacturing without restructuring its economy away from financialized oligarchy.

The internet was birthed out of decades of government software and hardware intervention that bloomed in the 90s. We are now seeing the blooming of over-financialization and over-privatization.

Why is gas in Saudi Arabia +300% above the 2020 low? They've got all the refining capacity.

1790-2000: Wholesale Price Cycles The 1947 Dewey and Dakins book projected an interest rate peak in 1979 and a trough in 2006. Next stage in the cycle, up.

Oil markets are trading like we are in a recession: Oil prices are down another -7% today and now down -20% over the last 6 months. Despite record high stock prices and a Fed calling for a "soft landing," oil markets are crashing. What are oil markets telling us? (a thread)

🇨🇦 BREAKING: Canada’s economy. Let’s face it—rate cuts alone won’t solve the financial challenges we’re facing. Canada led the G7 with rate cuts, yet we’re falling behind fast. GDP-per-capita is dropping 2% annually. If we’d kept pace with the U.S., our economy would be +8.5% larger—that’s $6,200 more per Canadian. It’s time for real change. NOW. Thank you @MPelletierCIO for quoting me and spotlighting this issue in your @financialpost column!