Posts Tagged ‘Kangbashi’

China’s High-Growth Ghost Towns

China’s High-Growth Ghost Towns

Visiting the eerily vacant epicenter of unsustainable progress, far out in the grasslands of Inner Mongolia.

BY APRIL RABKIN at Foreign Policy 

"Ghost City" City In Chongqing

In the gritty Inner Mongolian wind, I stood at the pinnacle of the global economy, at least in terms of GDP growth: the main drag of one of the fastest growing cities in the fastest-growing region in all of China, the world’s supposed new economic powerhouse. 

Built in a breakneck five years, Kangbashi is a state-of-the-art city full of architectural marvels and sculpture gardens. There’s just one thing missing: people. The city, built by the government and funded with coal money, its chief industries energy and carmaking, has been mostly vacant for as long as it has been complete, except for the massive municipal headquarters. It’s a grand canyon of empty monoliths. In a paradox only possible in today’s economic system, Kangbashi manages to be both a boom town and a ghost town at the same time.

Kangbashi represents a particularly destructive economic force at work in China today: an obsession with GDP that ignores all other metrics of progress or human capital. GDP as calculated in China — or the rest of the world, for that matter — doesn’t make any distinction between quantity and quality, or between creative and destructive expenditures.

Due to the industrial pollution billowing out of the country’s GDP-enhancing factories and mines, cancer is the leading cause of death in China. A recent government survey showed that 30 percent of children in Yunnan province suffer from lead poisoning. Perhaps the biggest and most destructive GDP boost came from construction of the Three Gorges Dam, for which 1.24 million people were evicted. Even some of the newly rich, however, shower in tainted brown tap water.

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Phil's Favorites

Vanguard Gives "Hot Money" the Heisman

 

Vanguard Gives “Hot Money” the Heisman

Courtesy of 

At a certain point, a fund’s size becomes negatively correlated with returns. Too much money can kill any strategy.

I have so much respect for what Vanguard just did with their Dividend Growth Fund. Flows have been incredible for their low-cost, actively managed flagship fund (Wellington is the sub-advisor) and market appreciation has been powerful. So they shut it down to new investors. This is the kind of unselfish thing a conscientious manager does so that future performance doesn’t get swampe...



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Chart School

S&P 500 Snapshot: A Fractional Gain Continues the Sideways Trend

Courtesy of Doug Short's Advisor Perspectives.

Our benchmark S&P 500 continued in its range-bound sideways trend, posting a fractional gain of 0.16% that essentially split the different between the intraday high and low. The small gain extended the fractional up-down pattern of daily closes to eleven sessions. Meanwhile, West Texas Intermediate Crude fell 1.86% today and is now in bear territory, down 20.16% from its interim high 36 sessions ago on June 8th.

The yield on the 10-year remined unchanged at 1.52%.

Here is a snapshot of past five sessions in the S&P 500.

Here is a daily chart of the index. We've highlighted the unusually narrow pattern over the past eleven sessions, both in closes and intraday trading ranges. To repeat again the pervading question: Wil...



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Zero Hedge

DNC Grand Finale: Ladies Night, Hillary Unleashed (And Katy Perry!) - Live Feed

Courtesy of ZeroHedge. View original post here.

It's the day everyone has been waiting for - Ladies' night. The grand finale of four days of Democratic dreamery as Kary Perry takes the stage (after Barbara Mikulski - the first woman elected to the Senate). The night will be capped off by Chelsea Clinton introducing her mother - the first female nominee for President from a major party (Victoria Woodhill was first female nominee in 1872).

Dont know if the Equal Rights party was considered a major political party back then. If it was than HRC not the 1st ...



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Market News

News You Can Use From Phil's Stock World

 

Financial Markets and Economy

Buy stocks now, and leave ‘totally lost’ investors in the dust (Market Watch)

Dow futures are stuck in a holding pattern this morning, after the blue-chip gauge closed basically unchanged yesterday. So no uplift or crash from Yellen & Co.’s slightly hawkish release.

Fed caution hits dollar as Japan anticipation builds (Reuters)

The dollar took ...



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ValueWalk

NetSuite Inc Stock Soars On Oracle Corporation Bid

By Jacob Wolinsky. Originally published at ValueWalk.

NetSuite Inc (NYSE:N) is soaring this morning as Oracle Corporation (NASDAQ:ORCL) has made a bid to buy the company for $9.3 billion. This deal has been rumored for some time but obviously few expected such a large premium or did not think the bid was certaintly coming as the stock is up about 18 percent at the time of this writing which is a lot for a tech giant. Here is what the sell side is saying.

NetSuite – analysts react

Nomura

Should the transaction take place, Oracle would pay about 9x NTM EV / revenue (based on consensus estimates for NetSuite), above the average multiple paid in our precedent SaaS Software acquisitions analysis of 6.8x . Additionally, Oracl...



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Insider Scoop

Benzinga's M&A Chatter for Wednesday July 27, 2016

Courtesy of Benzinga.

The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday July 27, 2016:

Sequenom Being Acquired by Lab Corp for $2.40/Share in Cash

The Deal:
Laboratory Corporation of America Holdings (NYSE: LH) and Sequenom, Inc. (NASDAQ: SQNM) announced Wednesday, that they have entered into a definitive agreement aunder which LabCorp would acquire all of the outstanding shares of Sequenom in a cash tender offer for $2.40 per share, for an equity value of $302 million.

The closing of the acquisition i...



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Mapping The Market

Illusion of Choice

From Jean-Luc:

Looks like we are down to about 10 companies for our consumer goods:

http://www.visualcapitalist.com/illusion-of-choice-consumer-brands/

Just like banks, airlines and cable companies! 

The Illusion of Choice in Consumer Brands

Explore the full-size version of the above graphic in all its glory.

If today’s infographic looks familiar, that’s because it originates from a well-circulated report that Oxfam International puts together to show consolidation i...



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Digital Currencies

Judge Rules Bitcoin Isn't Money Because It "Can't be Hidden Under A Mattress"

Courtesy of ZeroHedge. View original post here.

By Everett Numbers via TheAntiMedia.org

In a landmark decision, a Florida judge dismissed charges of money laundering against a Bitcoin seller on Monday following expert testimony showing state law did not apply to the cryptocurrency.

Michell Espinoza was charged with three felony charges related to money laundering i...



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Kimble Charting Solutions

Junk Bonds at important inflection point, should impact stocks!

Courtesy of Chris Kimble.

Junk bonds have been quality at sending Risk On and Risk Off message to the broad stock market. Below looks at Junk Bond ETF JNK over the past decade.

JNK finds itself at an important price point below and what it does in the upcoming couple of weeks could become a big influence on the Risk On/Risk Off trade.

CLICK ON CHART TO ENLARGE

...

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OpTrader

Swing trading portfolio - week of July 25th, 2016

Reminder: OpTrader is available to chat with Members, comments are found below each post.

 

This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...



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All About Trends

Mid-Day Update

Reminder: Harlan is available to chat with Members, comments are found below each post.

Click here for the full report.




To learn more, sign up for David's free newsletter and receive the free report from All About Trends - "How To Outperform 90% Of Wall Street With Just $500 A Week." Tell David PSW sent you. - Ilene...

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Biotech

This Is Why Biotech Stocks May Explode Again

Reminder: Pharmboy and Ilene are available to chat with Members.

Here's an interesting article from Investor's Business Daily arguing that biotech stocks are beginning to recover from their recent declines, notwithstanding current weakness.

This Is Why Biotech Stocks May Explode Again

By 

Excerpt:

After a three-year bull run that more than quadrupled its value by its peak last July, IBD’s Medical-Biomed/Biotech Industry Group plunged 50% by early February, hurt by backlashes against high drug prices and mergers that seek to lower corporate taxes.

...



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Promotions

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PhilStockWorld.com features the most important and most interesting news items from around the web, all day, every day!

News: If you missed it, you can probably find it in our Market News section. We sift through piles of news so you don't have to.   

If you are looking for non-mainstream, provocatively-narrated news and opinion pieces which promise to make you think -- we feature Zero Hedge, ...



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Help One Of Our Own PSW Members

"Hello PSW Members –

This is a non-trading topic, but I wanted to post it during trading hours so as many eyes can see it as possible.  Feel free to contact me directly at jennifersurovy@yahoo.com with any questions.

Last fall there was some discussion on the PSW board regarding setting up a YouCaring donation page for a PSW member, Shadowfax. Since then, we have been looking into ways to help get him additional medical services and to pay down his medical debts.  After following those leads, we are ready to move ahead with the YouCaring site. (Link is posted below.)  Any help you can give will be greatly appreciated; not only to help aid in his medical bill debt, but to also show what a great community this group is.

http://www.youcaring.com/medical-fundraiser/help-get-shadowfax-out-from-the-darkness-of-medical-bills-/126743

Thank you for you time!




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