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If You Want a Forecast for China’s Economy, Ask a Hairy Crab
This is the time of year in which many investors really start to study corporate earnings, jobless statistics and all sorts of other state data in an effort to divine what’s next for China.
But I simply prefer to head for the Wan Chai Street Market in Hong Kong, or the Temple Street Night Market across the harbor in Kowloon, and check on hairy crab prices as we approach the Lunar New Year.
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These delectable little guys are usually served steamed, with a…
8Jan2009 | Money Morning | 1 comment | ContinuedGlobal Investing Roundups
Ford and Toyota Sales Crash; Triple Airline Merger in Talks; GE Ponders Job Cuts; Sears Closing Stores; Oil Prices Hit 3-year Low; Discover Says More Credit-card Write-offs Likely
- U.S. sales in November fell 31% for Ford Motor Co. (F) and 34% for Toyota Motor Corp. (ADR:TM) Every line of Ford vehicle posted falling sales, and the company responded by slashing first-quarter North American output for 38% to 430,000 vehicles, Bloomberg reported.
- Crippled by global slowdown, British Airways plc (OTC:BAIRY) said it is in merger talks with Australian airliner Qantas Airways and Spain’s Iberia, Reuters reported. Should the three mesh together, it would create…
Credit Crunch: The British Perspective
The credit crunch is clearly having an effect on all of us as we are becoming more hesitant and cautious with what we spend our money on. With inflationary rises in basic living costs such as housing and utilities, there is no other option but to be careful with our purchases. We also now have a tendency to make fewer transactions with credit cards. This is likely to help us with saving money, as we don’t have to pay the added interest expense that we would if we bought items on credit (and sometimes that can be hundreds of pounds!).…
8Sep2008 | Jutia Group | Comments Off | ContinuedTHE POWER OF THE CHINESE CREDIT CARD
If you think that lack of financing is the only thing holding China back from consuming, consuming, consuming like we Westerners do, then prepare for a shock, as from atimes.com we get the report that “China’s Shoppers Stock Up On Cards” by Catherine Jiang.
She writes, “Chinese consumers, until now recognized as among the world’s most determined savers, are adding credit cards to their wallets in record numbers, with the number of such cards in circulation almost doubled in the first quarter from a year earlier.”
I am looking at my calculator and wondering if I want to spend the rest of…
22Jul2008 | Daily Reckoning | Comments Off | ContinuedThat Ticking Noise You Hear in Your Wallet is a Credit-Card Time Bomb
For those holding out hope that the American economy can miraculously avoid a long and deep recession, consumer credit is often viewed as the wonder drug that can cure all manner of economic ills. As such, last week’s report showing that consumer credit grew by $15 billion was widely heralded as proof of America’s economic strength and resilience.
The reality is very different, however: We’re already suffering from the after-effects of too much debt, meaning that our salvation cannot be found in more of the same.
Death by a Thousand Charge Slips
Credit card debt, which now stands at whopping $957 billion nationally…
15May2008 | Money Morning | Comments Off | Continued
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