China May Incur Trade Deficit in March

As it moves to bolster its middle class, China looks as if it may, for the first time in nearly a quarter century, incur a deficit with its US trade partner.

Chinese shares fell Tuesday as investors unloaded bank and property shares amid forecasts for a trade deficit in March that have raised uncertainties over the economic recovery.

via China shares fall on forecast of trade deficit in March, led by banks and developers | Markets | Market News | Canadian Business Online.

Greece Was Betting Against Itself

Aside from the fact that they exist in the unregulated dark realm of the derivative securities market, we have just been presented with a really good example of what is wrong with the credit default swap as an instrument of constructive benefit to society.

In this way, the use of the credit default swap was analogous to taking out life insurance on one’s suicidal spouse, then leaving loaded guns all over the house.

The Biggest Greek CDS Speculator Has Been Uncovered – Culprit Is… Greek State-Controlled Hellenic Post Bank! | zero hedge.