Turkmenistan Devalues Currency By 18%, Armstrong Warns Of “Economic Collapse On A Global Scale”

  The energy-rich former Soviet republic of Turkmenistan Thursday devalued its currency against the US dollar by 18%, as AFP notes, in the latest sign of contagion among Russia’s neighbors from the plunging ruble(following Krgyzstan’s 17% plunge in 2014 and Kazakhstan’s 14% tumble). However, as Martin Armstrong warns, this is symptomatic of a deflationary contagion…

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Japanese Bloodbath

BLOODBATH: Japan’s Economy Contracts 1.6% in Q3, Misses Growth Target of +2.1%

Japan’s economy is in technical recession after gross domestic product (GDP) shrank in the third quarter, defying expectations for growth. The world’s third-largest economy contracted an annualized 1.6 percent in the July-September quarter, data showed on Monday, compared with a Reuters forecast for a 2.1 percent gain. The economy contracted a revised 7.1 percent in…

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China Beats America

Not Just The Largest Economy – Here Are 26 Other Ways China Has Surpassed America

  #1 When you add up all imports and exports, China now accounts for more total global trade than the United States does. #2 There is now more total corporate debt in China than there is in the United States. #3 During 2013, we sold about 121 billion dollars worth of stuff to the Chinese,…

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Russia and China work together

What It’s All About: Russia, China Begin Construction Of World’s Largest Gas Pipeline

If after months of Eurasian axis formation, one still hasn’t realized why in the grand game over Ukraine supremacy – not to mention superpower geopolitics – Europe, and the West, has zero leverage, while Russia has all the trump cards, then today’s latest development in Chinese-Russian cooperation should make it abundantly clear. Overnight, following a…

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NO GMO

China Halts U.S. Grain Imports Due to GMO Concerns, Impacting U.S. Grain Sector

China has somewhat of a history when it comes to refusing GMOs from the United States. Now, due to fears that genetically modified grains will find their way in, China recently put the brakes on some U.S. grain imports, imports that amount to hundreds of thousands of tons per month. According to Bloomberg Businessweek, the move by…

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afghanistan-drugs-usa-heroin

STUDY: HEROIN PRODUCTION HITS RECORD LEVELS IN AFGHANISTAN

America’s war on drugs is failing in Afghanistan, with opium production at record levels, despite spending $7.5 billion to tackle the problem. Over 200 thousand hectares is used to grow opium, an increase of 36 percent, according to a US report. The report, which was commissioned by SIGAR, the Special Inspector General for Afghanistan Reconstruction makes…

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George Washington $ Collapse

What About The Dollar? Russia, Iran Announce $20 Billion Oil-For-Goods Deal

  Spot what is missing in the just blasted headline from Bloomberg: IRAN, RUSSIA SAID TO SEAL $20B OIL-FOR-GOODS DEAL: REUTERS If you said the complete absence of US Dollars anywhere in the funds flow you are correct. Which is precisely what we have been warning would happen the more the West and/or JPMorgan pushed…

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Chinese Domino

The dominoes begin to fall in China

Forget tapering. Forget Ukraine. The largest single risk to the world economy and financial markets right now is China. What’s going on in China reminds me a lot of what I witnessed firsthand when I lived in South Korea in the 1990s, before that economy’s crash in 1998. Just as China now, South Korea was…

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