China's Wave of Overcapacity
Is China's titanic economy finally running into the iceberg of overcapacity?
Problems at China Cosco Holdings Co. Ltd. suggest trouble ahead. Cosco, a giant state-owned shipping company, is locked into long-term contracts for chartering vessels that haul iron ore, coal and grain around the world. Many of those contracts were signed in the commodities boom, when the price for chartering a giant Capesize vessel peaked at around $200,000 a day. The price now is $10,000 a day.
The consequences of that collapse are showing up in Cosco's bottom line; the firm posted a loss of $420 million in the first half of the year.
http://on.wsj.com/noMJBl
By Bob DeMarco
All American Investor
Insight: The Bond King, The Pretender, and a job offer
The rivalry between two of the biggest names in the multi-trillion dollar global bond market, Bill Gross and Jeffrey Gundlach, has gotten more than just personal - after one appears to have claimed he was asked to take the other's job.
http://reut.rs/reGWQH
Bank of America Gets Buffetted
Last week, our financial Superman, the mild-mannered Midwesterner Warren E. Buffett, swooped in again to save another bank, the financial markets, the American economy and just maybe our precious way of life.
http://bit.ly/p0bRPv
Solar Panel Company Goes Bankrupt, Leaving Taxpayers On The Hook For $535 Million In Stimulus Loans
http://read.bi/nCLxQt
Social Security Cash Flow Gets Even More Negative In 2011
http://read.bi/p0N45u
Sports Concussion Toolkit
http://bit.ly/prEa82
New AAN Tools Teach High School Coaches and Athletes How to Spot a Sports Concussion
http://bit.ly/rqrap8
Original content Bob DeMarco, All American Investor
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