Apparently the US is so busy with important things like planning wars that it can’t be bothered with recycling its own trash. So it exports it to China. The sad truth is, garbage is our biggest export. But tragedy has struck, China has enacted strict controls on importing improperly cleaned and sorted recyclables. 68,000 tons has been rejected in just five months. Thus, the US has been banned from exporting trash to China.
A private company pops out of nowhere and says China is spying on US companies. Further, hacking is coming from a single building in Shanghai and are Chinese Army, they say. Really?
Thus, we are supposed to believe the hackers are smart enough to hack into well-protected US corporate servers but not smart enough to cover their tracks, hide their IP addresses, and not leave tracks in their malware.
These rather extraordinary claims were immediately accepted by mainstream media without question. Just who is the company making the claims? Why were accusations made now? Why has mainstream media been so uncritically accepting of them, especially since there has been little if any actual proof, especially considering the hackers supposedly made apparently stupid rookie mistakes.
This is a stunningly clear example of why trade wars generally backfire.
The Obama Administration last month instituted punitive tariffs on Chinese solar cells, citing unfair competition and dumping. China’s response may well be to impose duties on silicon imported from the US used to make the panels. The victim here will be the US solar industry, which will face higher costs at precisely the wrong time, when subsidies and tax breaks are expiring.
Long coal train, South Dakota, 1946. Carol M Highsmith, American (Carol M. Highsmith's America, Library of Congress, Prints and Photographs Division.)
SSA Marine, which is 51% owned by Goldman Sachs, has applied for federal and state permits to build facilities at Cherry Point to ship coal from the Rocky Mountains to China, thereby making the Pacific Northwest the largest coal exporting region in the country. (As many as half a dozen future sites have been proposed along the Oregon and Washington coast. If all of them were built and operated to planned capacity, those ports would ship 50% more coal than the entire country did in 2011.)
Physicians fret about an explosion of locomotive exhaust, while mayors grumble about the potential for long traffic-snarling trains. Washington state fears 1,200 new barge trips on the Columbia River could spark more accidents and marine-vessel groundings. Tribes worry that spilled coal could poison aquatic food webs.
But as the federal government begins its first lengthy review of plans to ship coal through Northwest ports, it’s not clear how — or if — the feds will weigh in on perhaps the most far-reaching issue: the potential effect new markets for coal could have on greenhouse-gas emissions.
There’s more information about the Gateway Pacific Terminal at Cherry Point near Ferndale, Washington, here and here. SSA has provided some more details to its proposal which the Bellingham Herald explains here.
In our experience, all of the big U.S. solar module manufactures have one approach: they sell their modules to only a few big distributors, and the more you buy, the bigger the discount.
But today there is an interesting twist coming from global competitors around the world. China will sell directly to just about any consumer or business, and, boy, do they know how to give you the best customer service — not to mention how easy they make it to find them.
So, China may be lowballing on price and even dumping but they also clearly get it about service and appear to actually want your business too.
This is why I love Zero Hedge. Not only are they frequently first with important financial news, their snarikiness and withering attacks are a joy to read in a world where the mainstream financial media is too often asleep.
Remember, back in the day, when a bankruptcy was simply called a bankruptcy? Naturally, this was well before ISDA came on the scene and footnoted the living feces out of everything by claiming that a bankruptcy is never a bankruptcy, as long as the creditors agree to 99.999% losses at gunpoint, with electrodes strapped to their testicles, submerged in a tank full of rabid piranhas, it they just sign a piece of paper (preferably in their own blood) saying the vaseline-free gang abuse was consensual. Well, now we learn that as the global insolvency wave finally moves to China, a bankruptcy is now called something even less scary: “deferred loan payments”
That hissing sound you hear is the air going out of the Chinese bubble economy.
China’s Communist Party has for the first time on record, one reporter says, “lost all control.” In what is the culmination of months of unrest over a planned land seizure in Wukan, party officials have been completely ejected from the southern fishing village.
The Communist Party’s stratgey of either buying out or crushing opposition is increasingly less effective, says an analyst. Wukan could be a turning point in the eventual and I think inevitable overthrow of the corrupt Chinese government.
Thank you, Mexico. Thank you, China. Thank you, corrupt money laundering US banks and hedge funds. The youth of America salutes you.
A legitimate pharmaceutical company in India exports cold pills to Dubai in the United Arab Emirates, where they are falsely labeled as herbal supplements and shipped to Belize, and then to Veracruz by cargo container.
Dubai has long been known as nexus of smuggling and money-laundering.
The Chinese government concedes that it has no idea how many cold tablets its state-run companies sell each year. The Mexican government is unsure how much phenylacetic acid is used by legitimate manufacturers, such as Proctor & Gamble, and how much is diverted to the meth labs.
Golly, how could it be that the rigidly centralized Chinese economy, where the government often has controlling interest in private companies, just has no freaking clue whatsoever how much meth precursor its factories are cranking out or where it is going? The same logic applies to the apparently gobsmacked government of Mexico too, who appear suspiciously dazed and confused by the whole thing.
Alarmist? Crazy? I’m no deficit hawk, but at some point the US needs to realize it can not continue to borrow and print money with no little thought given as to how much is owed and how it will be paid back. Because that puts you in an extremely vulnerable position.
Like everything else in China, coal production statistics are simply immense. China now consumes and produces close to 50% of all the coal in the world. Thus, changes in Chinese consumption and / or production may have a dramatic impact upon the global coal market.
If their production ever lags consumption then they will have a recession (which would affect the world economy), they buy coal on the world market (jacking up prices) or they go to nuclear power in a major way. China is installing massive amounts of renewable power, but their consumption is soaring too, and unfortunately there’s no way renewables can do it all for them.