To begin with the nomenclature is not all that accurate. The reference has been to migrants and that seems to imply that these waves of desperate people are similar to those who have been trying to make their way to Europe for decades as they seek jobs and economic opportunities. This is not the population […]
For nearly a decade the Middle East and North Africa have been deteriorating but nothing matches the accelerated pace of chaos that threatens to engulf a Europe without the resources to cope. Tens of thousands of desperate refugees are flooding into the southern states of Europe seeking some kind of asylum or escape. They come […]
Of course they do. Part of the challenge right now is that China never acts the way that other nations act. This is a country that straddles the divide between a market driven system and one that reacts to the edicts of the planners. China is in transition and nobody really knows exactly what that […]
The TranSystems Transportation Activity Index report for July was released this week, and we saw month-over-month and year-over-year weakness across every component tracked. All but one of the modes of transportation was still in “contraction” territory based on this index (anything below 50 is contracting). This index measures demand for transportation services and it takes […]
Chris and I both hit the Yuan devaluation pretty hard, you get it. There are a couple of things that happened to oil prices today that need to be understood, because there are multiple analysts who now see oil falling below $40 a barrel, some calling for the low $30’s before it stops and reverses.
The first thing to note is that China is still, after all, a developing country. Revaluing currency is common and often very dramatic within the ranks of the developing nations – Brazil has seen the Real fall by over 1.9% ten times already this year alone. Some states see this kind of drop almost weekly […]
It was the move that analysts are still trying to fully comprehend. Chinese Central Bank officials took an unprecedented depreciation move to devalue the Yuan. They took the Yuan down 2%, the biggest devaluation in history.
The ISM reported its non-manufacturing report on business yesterday, and it was significantly positive. We don’t know why the services PMI doesn’t get as much attention as the manufacturing PMI, the services PMI will eventually cover more than 80% of GDP in the near future (today it’s about 78%).
Six countries claim the Arctic as being part of their territory. Russia, the US, Norway, Denmark, and Canada all claim the 1.2 million square miles of a portion of the Arctic. Russia had tried to claim this region formerly through the UN in 2001, but had its claim rejected on a lack of scientific evidence.
Remember when the Baltic Dry Index hit a new all-time low earlier in 2015 and everybody blew it off because they said the data was skewed by overcapacity in the bulk commodity maritime shipping sector? Well, we wonder what their reaction would be today as we see the BDI now move up fairly sharply. Would […]