Buffett says US rich should pay higher taxes

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by Paul Hodges

Last year, Warren Buffett paid only $7m taxes, just 17.4% of his income.

Now he says rich Americans, including himself, should pay more, in order to help reduce US debt. He notes that:

• In 1992, the …

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Wal-Mart sends a message

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by Paul Hodges

The blog is a great believer in the predictive power of the retail sector.

Wal-Mart and Tesco were the first to spot the downturn in the summer of 2007, a year before it became obvious to everyone …

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China’s bank lending nears its Minsky Moment

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by Paul Hodges

China’s credit bubble is one of the largest the world has ever seen. This is true not only of its total size, but also in relation to GDP.

The history of credit bubbles is very clear about …

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High Frequency Trading dominates as markets crash

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by Paul Hodges

The Chemicals and the Economy blog was almost alone at the end of April, when it launched the IeC Downturn Alert. Today, its fear that we are close to a global downturn has become mainstream.

As the …

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China And Bouncing Dead Cats

By John Richardson

Fifty per cent of the blog (John Richardson) is on leave for the next two weeks.

Next week Paul Hodges will be posting on Asian Chemical Connections. Paul runs the ICIS Chemicals & Economy blog.Then from the …

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More On China And Stimulus Hopes

By John Richardson

THE fact that the focus has turned to what China might be able to do to once again rescue the global economy reinforces just how important it has become for global growth prospects.

For the chemicals industry …

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Chem Companies And The Oil Delusion

By Nigel Davis and John Richardson

On the financial markets it depends when investors feel confident enough to step back into shares. An analyst on Tuesday asked who would be willing to catch a falling knife?

But there are already …

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China To The Rescue Again? Unlikely….

By John Richardson

AS the global economy enters a new recession the great hope, as we discussed yesterday, is that China once again steps in with a stimulus package as did in late 2008.

But can China risk a repeat …

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Place Your Bets – Who Is Right?

By John Richardson

DOW Chemical CEO Andrew Liveris said in a 27 July conference call that China’s industrial economy was still doing very well. “They’re managing themselves down very nicely,” he added, pointing to official GDP growth numbers of 8-9%, …

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Polyolefins In “Chaos And Panic”

By John Richardson

CHINA’S polyolefin market was in “total chaos and panic” this morning, according to a Singapore-based trader.

The Dalian Comodity Exchange’s futures contract in linear low-density polyethylene (LLDPE) fell a further 5% this morning after declines earlier in …

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