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Netanyahu Turning Up the Tough Talk on Iran

Thu Feb 16, 2012 1:03pm EST 2

STORY HERE

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FLASH: ITALIAN SOVEREIGN BOND YIELDS EDGE TOWARDS DANGER ZONE

Thu Feb 16, 2012 8:49am EST Comments Off on FLASH: ITALIAN SOVEREIGN BOND YIELDS EDGE TOWARDS DANGER ZONE

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China’s Banking System May Suffer From Depositor Flight to Safety

Thu Feb 16, 2012 5:32am EST Comments Off on China’s Banking System May Suffer From Depositor Flight to Safety

Essentially there are products that allow Chinese savers to get a higher interest rate that current savings and checking accounts. This rate is a little higher than the rate of inflation and is causing depositors to move their money.

This coupled with less deposits overall is concern for the health of the banking system in China.

Full article

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Direct Foreign Investment in China Fell 0.3%; Doves Hopeful of Easing

Thu Feb 16, 2012 5:26am EST Comments Off on Direct Foreign Investment in China Fell 0.3%; Doves Hopeful of Easing

Europe’s woes reverberate around the globe as China feels the pain of less net investment….

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FOXCONN REALLY IS A SLAVE FACTORY

Wed Feb 15, 2012 4:35pm EST 2

The appeal of internships to employers at Chinese factories is not unlike that for many employers at white-collar offices in Los Angeles or London: free or low-cost labor by eager, energetic workers who earn few, if any, benefits, doing essential work. In China, where the “internship” has migrated from the West, Foxconn may be the tip of the iceberg. “What Foxconn and Apple’s other Chinese suppliers do—and Apple’s willingness to tolerate it—is completely par for the course for manufacturing in China,” says Perlin, who’s spent years working and studying in the country. “Forced labor is a major part of the Chinese economy, in many different respects, and our dependence on Chinese goods binds us to that every day. Forced internships like the ones at Foxconn appear to be somewhat common as well. What may be different here is the scale and the high-level government collusion.”

MUST READ

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SocGen Pours Cold Water on the Bulls

Wed Feb 15, 2012 12:25pm EST Comments Off on SocGen Pours Cold Water on the Bulls

The Bulls will ignore….

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FLASH: CALIFORNIA IS FUCKED

Wed Feb 15, 2012 10:49am EST 5

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China: “We Would Participate in Resolving the Euro Debt Crisis”

Wed Feb 15, 2012 8:02am EST Comments Off on China: “We Would Participate in Resolving the Euro Debt Crisis”

“China pledged to invest in Europe’s bailout funds and sustain its holdings of euro assets, spurring gains in the currency and Asian stocks on optimism the region’s debt crisis will be overcome.

“China will always adhere to the principle of holding assets of EU sovereign debt,” People’s Bank of China Governor Zhou Xiaochuan said in Beijing today. “We would participate in resolving the euro debt crisis,” he said, echoing comments by Premier Wen Jiabao yesterday.

The remarks offer a carrot to European finance ministers, who are increasing pressure on Greece to deliver budget cuts in exchange for a second bailout. At stake for China is helping to stabilize the economy of its largest export market amid a global slowdown that has curtailed growth in Chinese shipments abroad.

“Wen and Zhou are giving the best support China can offer now, which is to send out positive messages such as promising not to cut euro assets and to buy European bonds to help bolster market confidence,” said Shen Jianguang, a Hong Kong-based economist at Mizuho Securities Asia Ltd. who previously worked at the European Central Bank. “How much and when China will buy will depend on its foreign-exchange investment strategy — when they find the pricing and exchange rate favorable.”

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The ECB Plans To Hand Profits Over From Greek Bond Holders to Governments to Overcome Shortfall

Wed Feb 15, 2012 7:55am EST Comments Off on The ECB Plans To Hand Profits Over From Greek Bond Holders to Governments to Overcome Shortfall

“European Central Bank policy makers signaled they may distribute profits from Greek bond holdings to governments to help make up a possible shortfall in aid to the embattled nation.

Governing Council member and Belgian central bank governor Luc Coene said ECB officials have agreed that they “don’t wish to make a profit on Greece.” Executive Board member Joerg Asmussen, echoing remarks by fellow board member Benoit Coeure, told Reuters that the ECB can pass any profits on to national central banks and “then the member states can decide to use this as a contribution to finance the Greek program.”

The comments suggest the ECB may disburse profits on Greek bonds as they mature, giving governments additional cash to help Greece avoid a default. While the ECB has also looked at exchanging its Greek securities for bonds from the government- based rescue fund, the European Financial Stability Facility, Bundesbank President Jens Weidmann suggested politicians don’t favor that plan.

“If governments were prepared to buy the bonds from us, we certainly wouldn’t shy away from that discussion,” he told the Handelsblatt newspaper. “Such willingness is not apparent.”

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CHINESE HOT AND SWEATY SHOPS: 30 Surreal Photos Of A Chinese Sex Toy Factory

Tue Feb 14, 2012 2:55pm EST 4

via Buzzfeed.com

Workers inflate a sex doll during a test process at Ningbo Yamei toy factory, on the outskirts of Fenghua, Zhejiang province, February 13, 2012. The company started producing sex dolls three years ago, and now manufactures a total of 13 types of dolls at the average price of $16.00. More than 50,000 sex dolls were sold last year, about fifteen percent of which were exported to Japan, Korea and Turkey.

(Reuters / Jason Lee)