China Dethrones U.S. as World's Billionaire Capital China, which continues to call itself a communist country, boasts more billionaires than the United States, the country where one of its presidential candidates (Bernie Sanders, for the record) is attacked for not being capitalist enough. A ranking of China’s wealthiest…
China is in deep trouble. Economic activity in the second-biggest economy is plunging and it looks like the situation is only going to get worse. The Caixin Flash China General Manufacturing Purchasing Mangers’ Index (PMI), an indicator of manufacturing activity, now stands at 47.8—the lowest level in more…
Concerns over the Chinese stock market have accelerated a massive sell-off in the global equity markets. Despite the growing fear, short seller Jim Chanos thinks that investors may still underestimate the stock market collapse in the world’s second-largest economy. During an interview on CNBC’s Fast Money: Halftime Report, Chanos…
The global economy is so fragile that the Federal Reserve may not be able to raise interest rates later this year as many economists expect. At least, that’s according to former U.S. Congressman and three-time Republican presidential candidate Ron Paul. “She’s under the gun,” Paul told CNBC’s Futures…
The Chinese economy is nowhere near growing at the rates government officials are claiming. That could result in a global stock market crash and even a recession for the U.S. economy. At least, that’s according to renowned financial commentator Marc Faber. During an interview on Fox Business Network’s…
Gold prices could plunge below $1,000 an ounce. At least, that’s the latest gold price forecast from Goldman Sachs commodity research headJeffrey Currie. “The risks are clearly skewed to the downside in this environment,” he told Bloomberg in a telephone interview on Tuesday. “There is a probability that…
United Technologies Corporation (NYSE/UTX) cut its profits outlook for the second time in just over a month, saying there is weak demand in units making aerospace parts and Otis elevators. On Tuesday July 21st, the company reported second-quarter earnings above expectations. However, the company slashed its forecast for…