China's wealthy elite is increasingly making offshore moves -- surveys indicate that the Chinese hyper-rich are keenly aware that they have a lot more than their neighbors, and the government might one day decide to take it away. So money is flowing out of China, and if the Mainland one-percenters all go, it'll tank the Chinese economy.
In case you are not already familiar with Prof. Victor Shih’s theory about capital flight from China, enough capital outflow from China (US$1 trillion or more) would cause huge liquidity problems in Chinese banking system, and the wealthiest 1% of Chinese households would be enough to cause that shift of capital should they decided to leave the country, move the money away, or whatever. And that shift might be happening already (albeit rather slowly), as manifested in the slow but consistent money outflow away from China since late last year, which, as we said, is already tightening liquidity in the banking system, now necessitating multiple rounds of liquidity injection in China.
Rich Chinese flee | | MacroBusiness
(via Naked Capitalism)
That was bullshit.— Matthew Keys (@MatthewKeysLive) October 7, 2015 A jury in Sacramento, California, today found former Reuters deputy social media editor Matthew Keys guilty of computer hacking under the Computer Fraud & Abuse Act (CFAA).
Augustus Sol Invictus, a Tallahassee, Florida candidate for US Senate, once walked from Florida to the Mojave Desert as part of a ritual that culminated in him sacrificing a goat and drinking its blood. “I did sacrifice a goat,” he said. “I know that’s probably a quibble in the mind of most Americans. I sacrificed […]
Intelexit is an activist group whose mission is to get spies to quit their jobs; they’ve recently installed billboards around spy complexes in the US and UK.
Watching Netflix, Hulu or other streaming services can unfortunately be difficult while traveling outside the US. Rather than bypass these restrictions with the help of a complex and slow VPN, choose a faster and simpler solution with Getflix. Instead of rerouting all your Internet traffic through a different server, this handy service only routes the […]
Shake, stir, and muddle your way to delicious homemade cocktails with this must-have bar set. Expect only the finest quality tools from MakersKit — enabling you to unleash your inner mixologist.Top 12 Favorite Things of 2014, Sunset MagazineQuart-size vintage-style Mason jar shakerRetro double jigger for accurate measurementsStrainer & spouts for a mixologist-style smooth pourHardwood muddler […]
The Lytro Illum dares to be different, boasting even more robust features than its first generation predecessor and a sleek design reminiscent of professional DSLRs. What’s so cool about it? Most cameras capture the position of light rays, producing a statoc 2D image.