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Mark's Market Blog

9-18-09: The World's 100 Largest Entities

By Mark Lawrence

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Another week, another gain in the market. The market is now pricing in 4% growth for next year, a number I find fantastic, as in fantasy. This is a new bubble, caused by easy money from the Fed, the reserve bank of China, and various European central banks. You heard it here first. I think we all know what it looks like when bubbles burst. Unfortunately, I don't have a clue how much longer it will inflate.


S&P 500 March 18 2009 to September 18 2009

Although governments everywhere are throwing money at large banks like rice at a wedding, none of this is making its way to consumers. Below are charts of household borrowing and net lending by US banks from 1950 to 2008. Banks were fed a few trillion dollars by governments, and called in or refused to renew another nearly $2 trillion last year. When banks decide it's ok to start lending again, that's when inflation is going to get started real quick. Notice that, once again, it was when Nixon took us off the gold standard that things really started to change.

Household Borrowing, 1950 to 2008Net landing by US banks, 1950 to 2008

Officials at the International Atomic Energy Agency released a secret assessment saying that Tehran has the ability to make a nuclear bomb and is on the way to developing a missile system able to carry an atomic warhead. The document says Iran has "sufficient information" to build a bomb. It says Iran is likely to "overcome problems" on developing a delivery system.

As ample liquidity and low interest rates push Hong Kong property prices toward last year's peak levels, many analysts see a likely bubble forming, fueled by money from mainland China. A leading property price index recently came within 2% of the peak that it hit in the early months of 2008, before the financial crisis wreaked havoc in the global markets.

Market, market, on the wall, who's the biggest of them all? Below is the 100 largest entities in the world, sorted by yearly production. ExxonMobil is just bigger than Iran, Wal-Mart is the same size as Greece. How long until one of the 10 largest companies decides to go nuclear? When one does, their first explosion will be a lot bigger than N.Korea's little pop-tart, and there will be live coverage on pay-per-view. Pakistan, N.Korea, Myanmar (Burma) and Syria don't make the top 100 list, but Pakistan is nuclear and N.Korea is nearly. Myanmar and Syria were paying Russia and N.Korea to help them, but that seems to be stopped right now. As Japan, Germany, Canada and Australia all build nuclear reactors, they could be nuclear in a few months if they chose. Belgium, Germany, Italy, the Netherlands and Turkey all borrow US nukes for practice, whatever that means. Bechtel also doesn't make the top-100, but is the company that likely could become nuclear the fastest, followed closely by General Electric, Thomas Edison's company.

The World's 100 Largest Entities
Name Business Revenue $BCountry Nuclear
United States
14,330
Yes
Japan
4,844
Nearly
China
4,222
Yes
Germany
3,818
Nearly
France
2,978
Yes
United Kingdom
2,787
Yes
Italy
2,399
Borrow
Russia
1,757
Yes
Spain
1,683

Brazil
1,665

Canada
1,564
Nearly
India
1,237
Yes
Mexico
1,143

Australia
1,069
Nearly
Netherlands
910
Borrow
South Korea
858

Turkey
799
Borrow
Poland
567

Belgium
531
Borrow
Sweden
513

Indonesia
512

Switzerland
493

Norway
481

Saudi Arabia
468

Austria
432

Taiwan
402

ExxonMobil Oil and gas 390United States
Iran
382
Nearly
Wal-Mart Retailing 374United States
Greece
374

Denmark
370

Royal Dutch Shell Oil and gas 355Netherlands
Argentina
338

Venezuela
331

South Africa
300
Was
BP Oil and gas 292United Kingdom
Finland
287

Ireland
285

Thailand
272

United Arab Emirates
270

Toyota Automotive 264Japan
Portugal
255

Colombia
249

Nigeria
220

Czech Republic
217

Total Oil and gas 217France
Malaysia
214

Chevron Oil and gas 214United States
Romania
213

Saudi Aramco Oil and gas 199Saudi Arabia
Ukraine
198

ING Group Financial services 197Netherlands
Israel
188
Yes
ConocoPhillips Oil and gas 187United States
Chile
181

Samsung Conglomerate 174South Korea
Ford Motor Automotive 172United States
Philippines
172

Algeria
171

General Electric Conglomerate 169United States Nearly
Sinopec Oil and gas 165China
Hungary
164

Volkswagen Automotive 160Germany
Pakistan
160

Kuwait
159

Egypt
158

Singapore
154

Allianz Financial services 151Germany
General Motors Automotive 149United States
Daimler Automotive 146Germany
Glencore Commodities 142Switzerland
Kazakhstan
141

Dexia Banking 140Belgium
AXA Group Financial services 138France
New Zealand
135

Carrefour Retailing 135France
Peru
131

Eni Oil and gas 128Italy
Assicurazioni Generali Insurance 122Italy
Fortis Financial services 121Netherlands
Bank of America Banking 119United States
Honda Automotive 119Japan
Berkshire Hathaway Conglomerate 118United States
AT&T Telecommunications 118United States
UBS Financial Services 117Switzerland
J P Morgan Chase Financial Services 116United States
BNP Paribas Financial Services 116France
Qatar
116

Hitachi Conglomerate 113Japan
American International GroupFinancial services 110United States
Hyundai Kia Automotive 109South Korea
Libya
108

Nissan Automotive 108Japan
The Royal Bank of Scotland Financial services 108United Kingdom
Hewlett-Packard Information tech 107United States
Arcelor Mittal Steel 105Luxembourg
Pemex Oil and gas 104Mexico
Société Générale Financial Services 103France
Siemens Conglomerate 102Germany
Crédit Agricole Financial Services 102France
Slovakia
100

IBM Corp. Information tech 100United States
HBOS Financial Services 100Scotland

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