Lombard Street: No ‘2008 Moment’ from China Crisis
Lombard Street Research has been very bearish on the economic prospects of China, as well as those of Europe and the United States.
Lombard Street Research
China Stocks in Bear Market as Capital Flight Accelerates
China’s leading Shanghai Index officially entered a “Bear Market” this week, with stocks, plunging over 20 percent since their mid-June high.
China Debt-Bomb Fuse is Burning
Buried under “crippling local government and corporate debt”, the Red Dragon’s current debt restructuring plan amounts to “little more than creative financial-engineering.” Lombard believes that China still has the ability address the nation’s debt-bomb, but the fuse is now burning.
US Sets 44-year Oil Production High as Economy Looks Bright
The U.S. Energy Information Agency (EIA) reported that domestic crude oil productionfor the week ending May 22 surged by 304,000 barrels per day (bpd) to a 44-year high of almost 9.566 million bpd. The latest production numbers come on the heels of Breitbart News’ report that the Organization of Petroleum Exporting Countries (OPEC) had effectively conceded defeat in its battle against U.S. shale oil competition.
Greek Left Over-played Their Hand–Now Desperate for EU Debt Deal
The leftist Greek government’s debt re-negotiation strategy was aimed at stretching the crisis out and making the risk from a messy “Gr-exit” so big that the European Union would grant huge concessions to avoid a Greek collapse that would topple falling
China’s Unmassaged Growth Rate Plummets to 1.7%
Diana Choyleva of Lombard Street Research, who produces an “unmassaged” calculation of China’s true economic growth, just reported that China’s fourth quarter GDP growth plummeted to 1.7 percent, versus the official 7.4 percent rate.