Asia

Jordan Peterson on China's Social Credit System

The Crux of China’s Problems

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China is risking more than a real estate collapse. China has turned its back on what created the Chinese Economic Miracle in the first place. Everyone is pontificating about China’s real estate bubble and whether Chairman Xi will do enough to stimulate the economy. Even though the media admits that so far a loose monetary policy hasn’t helped, they still believe that more of the magic cure-all monetary elixir will somehow eventually work.

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Don’t Count Your North Korean Chickens Before They’re Hatched

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A few weeks ago, I was telling a few thousand of my “closest friends” on Facebook that you can’t count your North Korean chickens before they hatch. North Korea has a long history of provoking the West with Nuclear threats then backing down in exchange for “concessions” and a “Treaty”. Typically this means a cash bribe from the West in exchange for a worthless promise from North Korea.  After a while the Treaty gets broken and the cycle repeats itself.  

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The $10 Trillion Resource North Korea Has But Can’t Tap

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North Korea is making quite a bit of news these days with its crazy war threats and threatening missile launches.  It knows that in the past brinkmanship has gotten it concessions from every U.S. President since Clinton. During Clinton’s Presidency North Korea began its “Saber Rattling” in response former President Carter began negotiations that resulted in an agreement that North Korea would cease work on Nuclear weapons in exchange 500,000 tons of oil a year and $4 billion toward the construction of a light-water reactor capable of producing nuclear energy (but not weapons) . By 2003, North Korea had breached that agreement . In 2005, North Korea reached another agreement to stop production in exchange for economic and energy aid.  That deal unraveled in 2008. Since 2008 there hasn’t been much done in negotiations between North Korea and the U.S.

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Bank of Japan (BOJ)

On Halloween, the Bank of Japan Did Something Scary

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In today’s post Grant Williams looks at the recent actions of the Bank of Japan and their attempt to break free of the deflationary spiral they have been on for more than 20 years. Back in April of 2013 Abenomics was born and Japan began boosting their stock market while trashing the Yen. Now they have “doubled-down” and are planning a TARP style bailout to the tune of about $720 billion. This is only slightly less than TARP’s $787 billion except that the Japanese economy is much smaller than the U.S. economy. So it is really equivalent to the U.S. blowing about $3 Trillion a year for the foreseeable future! And Japan’s debt to GDP is already about 250% compared to the U.S.’s 110%, so they don’t have any wiggle room left.

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