Con-tango

Archived entries for

May 4, 2006
In Economy, Views
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$900 billion in NPLs in China

Earnst & Young, the accounting firm, puts China’s non performing loans at an unexpected high level, $900 billion USD, surpassing their $875 billion USD reserve level.

FT update May 16: E & Y retracted the report

E&Y retracted the report, saying its estimate of bad debts for the
country’s big four state banks "cannot be supported and … is
factually erroneous".
(big snip)
In a statement issued with the retraction of its report, E&Y
resolved the conflict firmly in favour of its auditors, saying the
official figure was "computed on a regulatory and accounting standard
based on objective evidence of impairment". In a separate statement
yesterday, the accountant said the NPL report had erred by treating "unverified forecast data compiled by others as if it were historic
information".

Humm… an auditor feeling the pinch?

May 3, 2006
In Economy, Views
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China’s Labor Day

There were quite a few announcements on Labor Day in China, as a matter of fact, 42 laws and regulations came into effect.

May 1, 2006
In Views
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BRI Energy

I was fascinated by this technology.

It seems these guys are able to produce ethanol from any organic material –crops, waste… even old tires. It really sounds like Back to the Future stuff…

May 1, 2006
In Lessons, Methods
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Trend channels

As we previously saw with the channel breakout method, channels are a good source of support and resistance. But channels can also be used when prices are trending.