As widely anticipated, troubled Shanghai Chaori Solar Energy Science and Technology Co. failed to make the scheduled interest payment on a bond this Friday, 7th March 2014. Chaori could barely scratch together five percent of the 89 million yuan due. Unlike Credit equals Gold No 1 no one stepped up …
Roy Morgan unemployment figures released yesterday show an estimated 1.561 million Australians are now unemployed. This represents 12.3 per cent of the workforce and is now the highest figure since February 1994, some 20 years ago. An additional 1.08 million Australians are classified as underemployed, working part time while looking …
China Wealth Management Product Credit equals Gold No 1 narrowly missed default on the 31st January 2014 with a mysterious saviour bailing the fund out and averting an emerging crisis in China’s troubled shadow banking system. Time is now running out for Shanghai Chaori Solar Energy Science and Technology Company …
The BBC in the United Kingdom has aired a program this week titled “How China Fooled the World – with Robert Peston” It re-enforces many of the posts we have made over the years and is well worth a watch. » How China Fooled the World – with Robert Peston …
In January’s predictions for this year, we commented one shock for average Australians will be “income growth or rather the lack thereof” (2014: The year the world is taken off life support): The other shock will be income growth or rather the lack thereof. Treasury’s chief economist David Gruen told …
Back in October last year we reported on data from Google Trends showing an increased number of Australians hitting Google to research the term “Housing Bubble”. This month (February 2014) has seen a significant increase of internet searches and we are barely half way though the month (The last data …
As widely expected, the Reserve Bank of Australia has left the official cash rate at an “accommodative” 2.5 per cent citing “on present indications, the most prudent course is likely to be a period of stability in interest rates.” This now has many calling a bottom to the interest rate …
A last minute bailout will see the 700 investors in a 3 billion-yuan wealth management product (WMP) called Credit equals Gold No. 1 recouping their full principal minus some interest averting an emerging crisis in China’s troubled shadow banking system – for now. The product, issued by one of China’s …
Most Australians disagree rising house prices are “a good thing.” That’s the finding of a new polling by Ipsos and reported by Jessica Irvine in the News Limited papers today. Jessica writes: A majority of Australians now think rising house prices are bad for the country, with exclusive new polling …
What lobby group has the loudest voice? In the last decade, without doubt it has been the property lobby. But there are signs the others are starting to wake up. In responding to yet another poor Australian Industry Group’s Performance of Services Index (PSI) the Retail Trader’s Association executive director …
On the 18th of December 2013, the U.S. Federal Reserve finally announced it would begin to taper or wind down QE3 – an $85 billion a month shot in the arm to keep the economy afloat after the worst recession since the 1930s. Starting in January 2014, the Fed will …
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