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Paul Volcker, The Fed, And ‘Tight Credit.’ The Myth That Won’t Die

Paul Volcker, The Fed, And ‘Tight Credit.’ The Myth That Won’t Die

by John Tamny In a recent piece for the New York Times, Lananh Nguyen and Matt Phillips wrote of a happy, and too-easily-forgotten commercial U.S./China commercial reality: “Chinese companies and American investors have long seen the other’s allure: Investors envisioned fortunes to be made from China’s rapid economic growth, and companies coveted the deep pockets and cachet of overseas […]

Default Of Second Chinese Developer Sparks China Junk Bond Meltdown As Contagion Explodes

Default Of Second Chinese Developer Sparks China Junk Bond Meltdown As Contagion Explodes

BY Tyler Durden | ZeroHedge As we expected, Evergrande is only the first cockroach. With the world waiting to find out the fate of a $260 million bond issued by Jumbo Fortune Enterprises which is guaranteed by Evergrande, and which has no grace period so an event of default could take place as soon as this week (the […]

China’s “Lehman Moment” Arrives On 13th Anniversary Of Lehman Bankruptcy: Beijing Tells Banks Evergrande Won’t Pay Interest

China’s “Lehman Moment” Arrives On 13th Anniversary Of Lehman Bankruptcy: Beijing Tells Banks Evergrande Won’t Pay Interest

BY Tyler Durden | ZeroHedge Yesterday, when covering the non-stop drama surrounding China’s most insolvent property developer, Evergrande, we said that it would be remarkably ironic if Evergrande were to announce a default – which everyone knows is coming – today, on the 13th anniversary of Lehman’s bankruptcy filing on Sept 15, 2008.   Evergrande […]

China Yuan Swaps Soar Amid Fears Evergrande Default Will Lead To Liquidity Crisis

China Yuan Swaps Soar Amid Fears Evergrande Default Will Lead To Liquidity Crisis

BY Tyler Durden | ZeroHedge The initial contagion from the upcoming default of Evergrande, which after the company’s hiring of bankruptcy advisor Houlihan Lokey is just a matter of days, is starting to emerge. China’s one-year onshore swap curves surged to the highest in almost four years, signaling market worries over liquidity shortage on potential default […]

Oxnard, CA | Sweet Words Don’t Tell The Truth

Oxnard, CA | Sweet Words Don’t Tell The Truth

Commentary by Phillip Molina Tonight the city manager is presenting the crumbs to the council and Mayor.  Again if you want payment now instead of in the future you should either make that comment at the Council meeting tonight or send an email to the Mayor and each council member expressing your desire to get […]

City of Oxnard Issues Credit To Utility Customers; Also Cuts Current Utility Rates To Exclude Infrastructure Use Fee

City of Oxnard Issues Credit To Utility Customers; Also Cuts Current Utility Rates To Exclude Infrastructure Use Fee

OXNARD, Calif. – In a series of decisions that culminated in its final ruling in July of 2021 regarding the City of Oxnard’s Infrastructure Use Fee (IUF), the Ventura County Superior Court ordered the City to reimburse its utility funds a total of $36.5 million over a three-year period and to remove the IUF from […]

Credit industry circles California pot banking

Credit industry circles California pot banking

By James Poulos As Gov. Jerry Brown’s administration turns toward tidying up California’s complex and still-unsettled marijuana laws, the massive market for money made from the plant’s products has begun to attract attention from financial services companies that want to take advantage without taking on too much risk.  “Though federally prohibited, marijuana is now legal in […]

The coming catastrophic collapse of the middle class

The coming catastrophic collapse of the middle class

By Jack Mullen | 17May2016 | The Government Rag “Is there no danger to our liberty and independence in a Bank that in its nature has so little to bind it to our country. The president of the Bank has told us that most of the State banks exist by its forbearance. Should its influence […]

‘Significant Financings’ or Putting it on the State’s Credit Card

‘Significant Financings’ or Putting it on the State’s Credit Card

Editor’s Note: Make no mistake about it, these bonds and “financings” are putting debt on the State’s Credit Card. One day, they will have to be paid back.  Oh well, like Scarlet, let’s think about that tomorrow.  Treasurer John Chiang oversees several boards, commissions and authorities that award financing, tax credits, grants, loans, and other […]