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China’s Richest Man Loses $32 Billion — $14B in One Hour

Posted on May 21, 2016


By David Stockman A Chinese billionaire goes missing practically every day, as a recent Washington Post article explained: That’s what happened last year when China’s richest man — at least on paper — lost half of his wealth in less than half an hour. It turned out that his company Hanergy may well just be […]

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American Capital: China-Bound

Written by Gary North on June 20, 2015


I return to a theme that apparently only I ever talk about: the economic meaning of the phrase, “international capital flows.” You may think I’m exaggerating. You may think that what I am about to write is widely understood. You would be wrong. Either I’m dead wrong about what I’m saying, or virtually the entire […]

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IOU’s: China Buys Treasury Debt

Written by Gary North on May 16, 2015


China, meaning China’s central bank — the People’s Bank of China — started buying Treasury IOU’s again in March. It purchased $36 billion worth. It now holds over $1.2 trillion in Treasury IOU’s. China has now leaped ahead of Japan as the #1 foreign holder of U.S. government debt. Add Hong Kong to this: another […]

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China’s Economy Is Slowing

Written by Gary North on February 2, 2015


Around the world, economies are slowing. This includes China. Keynesians are terrified of price deflation. The idea that consumers should benefit from falling prices is anathema to them. They are horrified at what is happening. They want central banks to inflate even more. The risk of global deflation looms large for 2015 as surveys of […]

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India’s Economy Is Slowing

Written by Gary North on February 2, 2015


As always, the Keynesians want lower interest rates on short-term loans. Rates are lower than they have been since the 1930’s, but this is not low enough for Keynesians. They want more central bank inflation to force down rates. They think another fraction of a percentage point cut will get the world’s economy growing strongly […]

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Photos from North Korea

Written by Gary North on January 30, 2015


These photos are amazing. A tour guide shot them. They were legal. These are places where tourists are allowed to go. The people photographed are wealthy by North Korean standards — middle class by ours. What is unexpected is how Western they look. There is no question that “the good life” that comes to the […]

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Videos: Traffic Without Traffic Lights

Written by Gary North on January 9, 2015

In the West, we cannot imagine urban traffic control without traffic signs and lights. But the following testifies to the viability of voluntary, free market arrangements. These are sped-up videos of traffic congestion without traffic lights. At normal speeds, it’s even easier. Liberals simply cannot imagine this. Libertarians can imagine it, but they have not […]

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