Chinese Companies Caught in Yuan Riptide

China’s decision to squeeze speculators out of its currency is causing pain for local companies and individual investors. The yuan fell on Monday to its lowest level in 10 months against the dollar after the government over the weekend doubled the currency’s daily trading range. The decision, foreshadowed by months of hints by Chinese officials, […]

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Cooked Books: The Technical Bankruptcy of the Government Is Kicked Out Another Six Weeks

“The U.S. government’s debt has been locked in at this implausible limit for three months: $16,699,396,000,000. The Secretary of the Treasury says that it will not hit the ceiling until mid-October. The BBC reports this. The country’s borrowing limit is currently capped at $16.7tn (£10.7tn).”Extraordinary measures are projected to be exhausted in the middle of […]

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