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The Chinese stock market’s spectacular run is turning into a stagger: Two more Hong Kong stocks collapse after Hanergy crash (AFP) — Two of Hong Kong’s best-performing stocks plunged more than 40 percent Thursday, a day after a mysterious crash of almost 50 percent in Chinese solar firm Hanergy that saw almost $20 billion wiped […]

 

Is Greece Still A Country If Someone Else Owns Its Assets?

This story isn’t actually about Greece, but it begins there. After the country went functionally bankrupt a few years ago, the solutions proposed by its creditors (mostly European banks and governments) included the impoverishment of its current citizens through cutbacks in wages and pensions, the impoverishment of its future citizens through the borrowing of even […]

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The End Is Near, Part 5: Paying Dividends With Borrowed Money

A recent Goldman Sachs report explains where this year’s stock market profits (should there be any) will come from: Buybacks and Dividends All That’s Left in S&P 500, Goldman Says (Bloomberg) — The $1 trillion that U.S. companies are on track to return to shareholders this year will constitute the market’s entire return in 2015, […]

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