
Showing posts with label Euro.dollar. Show all posts
Showing posts with label Euro.dollar. Show all posts
Wednesday, February 22, 2017

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Wednesday, October 28, 2015
The Eurozone has no fire-power to strengthen. QE has failed because they are already mired deep in a Japanese style deflation trap to which there is no easy escape. Draghi's peashooter has allowed them to standstill for a few months and nothing more. The only thing to be done now is to forcibly devalue the currency and drive it through dollar parity as policy. This is what is necessary to re-establish inflation and growth on the continent. This would be European style economics but may be the only way to save the euro. It must be done now though. The alternative is a slow death and definitely lose the euro. My bet is that the Europhiles cannot face up to what they have done and will therefore opt to do nothing. So it will be the slow death then...the Central Banks are in trouble...and relying on Draghi's monthly or quarterly QE payroll. It's as simple as that. Deflation will hit their books hard. Notice the pressure on Banks to impose charges, more now than ever before. As for Deutsche Bank; it's all their satellites that will feel the pinch....something that Merkel has overlooked at her peril....There is no money. Nobody can buy anything so nobody can sell anything so there is no growth and all kinds of social bills still to be paid through more borrowing along with all the previous debt service costs. Reciprocal debt forgiveness: for some nations temporary retreat from an utterly inappropriate €conomic instrument used as a political weapon that has failed on both battlefields: sustainable, as equable as possible, benefit reduction and an opening of the democracy door to all of the peoples with the same voting weight at all levels are the only answers now. But I think the burden is too great and it is too late, especially with the utterly divisive irritant of the imperial court's decrees on immigration to add to the stew....The ECB printing up more trillions of fiat currency to lavish on their .1% cronies in the financial sector "to combat deflation" (and buy up the distressed assets of the increasingly pauperized middle and working classes at fire sale prices) - my, how groundbreaking. Remind me again of the clinical definition of insanity.
Sunday, May 3, 2015
The US recovery suffered a severe setback at the start of the year with the rate of economic expansion far slower than economists had anticipated, according to data released on Wednesday.
US GDP rose by just 0.05pc in the first quarter, well below the 0.2pc expected by analysts and far weaker than the previous quarter's 0.54pc increase. Analysts blamed the strengthening dollar for the poor performance, as the currency's strength hit exports for a fourth consecutive month. The growth data is likely to stay the Federal Reserve's hands in raising interest rates later this year. The FTSE 100 and dollar both lost ground as the data were released. Chris Williamson, chief economist at Markit, said: "A stalling of US economic growth at the start of the year rules out any imminent hiking of interest rates by the Fed. "The slowdown looks temporary, as a rebound from the first quarter weakness is already being signalled by forward-looking survey data, but the sustainability of any upturn is by no means convincing yet." Ahead of the release, analysts at Deutsche Bank said: "The first quarter of the year has been the weakest in recent years, and 2015 is likely to be no exception”. A string of weak first quarter performances has led some economists to question whether the Commerce Department, which releases the figures is "seasonally adjusting" the data correctly. As a result, some believe that the performances in the second to fourth quarters have been overstated. If that proves to be the case again this year, US growth figures should bounce back
Tuesday, May 6, 2014

The loan is dependent on strict economic reforms, including raising taxes and
energy prices.
The money will be released over two years, with the first instalment of
$3.2bn available immediately.
The head of the IMF, Christine Lagarde, said the IMF would check regularly to
ensure the Ukrainian government followed through on its commitments.
In March Ukraine put up gas prices by 50% in an effort to secure the
bailout.
The government has also agreed to freeze the minimum wage.
The bailout had to be approved by the IMF's 24-member board, which includes a
Russian representative.
The IMF loan will also unlock further funds worth $15bn from other donors,
including the World Bank, EU, Canada and Japan.
Russian recession
In December last year, Ukraine agreed a $15bn bailout from Russia, but this
was cancelled after protests forced out pro-Russian President Viktor
Yanukovych....
The IMF bailout will also make available $1bn in loan guarantees from the US,
which was recently approved by Congress.
"Today's final approval for the $17bn IMF programme marks a crucial milestone
for Ukraine," said US Treasury Secretary Jacob Lew in a statement.
He added that the bailout will "enable Ukraine to build on the progress
already achieved to overcome deep-seated economic challenges and help the
country return to a path of economic stability and growth".Earlier on Wednesday, an international conference in London ended with a commitment to help Ukraine recover tens of billions of dollars worth of assets which were allegedly stolen by the ousted President Yanukovych and his allies.
The IMF warned that Russia was "experiencing recession" because
of damage caused by the Ukraine crisis.
Friday, January 10, 2014

Sunday, September 29, 2013
Wednesday, August 28, 2013

Less than 24 hours later, Finance Minister Wolfgang Schäuble appeared on a campaign stage in Ahrensburg, a town in the northern state of Schleswig-Holstein, and said: "There will have to be another (bailout) program in Greece."...So there it was.
Friday, August 2, 2013

Friday, March 22, 2013

Tuesday, January 22, 2013

It is one of the fastest growing trade relationships in the developed world.
France lagged behind at
€150bn as trade stagnated, with the US at €149bn and China at €115bn.
David Marsh from the financial group OMFIF said the trade swing underlines a
“sobering truth” that Germany’s fundamental interests are shifting away from the
eurozone core as Berlin embraces the wider world. The EMU share of German trade
has fallen from 46pc to 37pc since the launch of the euro, displaced by Asia, as
well as Eastern Europe and the Anglo-sphere.
British goods exports to Germany rose 20pc over the
first three quarters compared to a year earlier, despite the economic downturn.
The surge was led by medical equipment, drugs, car components, and petroleum
goods. The deficit with Germany narrowed slighty to €17bn, a sign that trade is
becoming better-balanced. Although rarely acclaimed, British suppliers and manufacturers are deeply
integrated into the German industrial machine and enjoy the follow-through
benefits of German exports to the rest of the world....Now...Does anyone believe British conmpanies have won this business based on EU
membership or on the timely and safe delivery of quality products at a
competitive price? The UK and Germany are the two major players and net contributors in the EU.
France talks it large and is extremely well represented in positions, but
without the massive EU funding it receives it would struggle. The real danger here is not the UK leaving the EU and sinking, it is that we
will leave and surge ahead. Weakening the EU and strengthening our own
position. Add to this the repeated polls in Germany where the majority do not
want to be run by the EU and also wish to leave the Euro, and the real danger is
clear. The UK leaving the doomed EU project will hasten its demise and open
Europe up to trade and competition with the World. The very last thing
Socialist leaders want.
A thriving UK outside of the EU would prove an irrisistable pull to other net
contributors to leave. This is what keeps the EU commission up at night, not
wondering what Pro-EU Cameron will mumble in his speech this week.
Friday, January 18, 2013
Germany's central bank, the Bundesbank....

Friday, January 4, 2013

These indicate a country's cost of borrowing and reflect how nervous
investors feel about lending to them. Germany is used as a benchmark as it is
considered the safest bet in the eurozone.
The difference between Italy and Germany's yields dipped below 2.87
percentage points on Wednesday.
When Mr Monti took office as head of a technocratic government in November
2011, the spread had stood at 5.74 percentage points.
Mr Monti's centrist allies are in a three-way race with Mr Berlusconi's
People of Freedom party on the right and the Democratic Party on the
left. Speaking on radio, Mr Monti pledged to take measures to redistribute wealth
in the country. "We need to reduce taxes on the labour force, both on workers and companies,
by cutting spending," he said. He defended his administration's record, saying that the "light at the end of
the tunnel" was "much nearer".
Since withdrawing his party's support for the government in December, Mr
Berlusconi has repeatedly launched attacks against the former European
commissioner. "Berlusconi has made improper attacks against me - on areas like family
values," Mr Monti said on Wednesday.
"I think I need make no further comment," he added, in an apparent reference
to the string of sex scandals involving the veteran billionaire politician. Mr Monti, a former economics professor, was chosen to impose financial rigour
on the economy, after Mr Berlusconi quit the prime minister's job. In power, Mr Monti made some progress early on, including raising the
retirement age and structural reforms. However ordinary Italians have been hard hit by the combination of tax rises
and spending cuts he imposed to repair Italy's public finances. Italians are due to go to the polls over the weekend of 24-25 February....
The Euro will survive even if the ECB has to kill Europeans and recycle them into Euro notes, bit like Soylent Green only bank notes instead of food. Interesting fact on the EU today, they have ordered all the cash machines in the Vatican City to be turned off because the Vatican has failed to comply with anti money laundering regulations. Is this the shape of things to come.
The Euro will survive even if the ECB has to kill Europeans and recycle them into Euro notes, bit like Soylent Green only bank notes instead of food. Interesting fact on the EU today, they have ordered all the cash machines in the Vatican City to be turned off because the Vatican has failed to comply with anti money laundering regulations. Is this the shape of things to come.
Monday, November 5, 2012

Mitt Romney promised Americans that under his leadership the country would
rediscover its greatness, after languishing under Barack Obama for four years.
Under a slogan of “Real Change from Day One” – a deliberate dig at the
president’s winning mantra from 2008 - the Republican contender said that his
rival’s “big government” policies had failed.
“If there is anybody who fears the American dream is fading away, I have a
message for you: America is about to come roaring back,” he said at his first
rally of the day in New Hampshire, one of the closest swing states.
“President Obama is offering excuses, I am offering a plan. He is asking
Americans to settle [for what they have got]. But Americans don’t settle, we
dream, we aspire and we achieve great things.”
Democrats in Ohio and other swing states are acutely aware that with Mr
Romney breathing down the president’s neck, getting out the vote on the day will
be crucial.
Morris Reid, a former official in Bill Clinton’s White House who hails from
the state, said: “It will come down to turnout and ground game. If we get
African Americans to turn out we can get an extra two to three points in Ohio.”
A misleading TV ad by the Romney campaign which claimed local Chrysler plants
were preparing to ship jobs to China has angered labour voters and women with
blue collar husbands, he said. That could make the crucial difference at this
late stage, by encouraging extra numbers to show up at polling stations on
Tuesday.
“I believe we will win, but this is close, very close. It makes me nervous. I
have never been so nervous about a race,” said Mr Reid.
Monday, September 10, 2012
...the decision to unleash the new action...

Tuesday, August 7, 2012

Of course we need to fix the causes of this crisis, but that is going to do bugger all in the short-medium term to fix symptoms. "The attempt to solve a crisis caused by credit with even more credit has, predictably enough, proved a failure. It has been a bit like the motorist desperately pumping air into a tyre with a slow puncture: it works for a while, but eventually the tyre goes flat again."
Nonsense. A fallacy in place of a reasoned argument. 'Debt caused the problem so debt can't solve it' is based on the fallacy that all debt is equally bad. The problem is not the amount of debt but who holds it - governments with their own currencies paying record low levels of interest vs private individuals and businesses who are depressing the economy by all de-leveraging at once. The former is absolutely sustainable at much higher levels than at present - and the use of this debt to produce stimulus the only obvious way out of this crisis that doesn't take years and condemn millions to the scrapheap. (Of course, if you're unlucky enough to be under the Euro, you are doubly screwed: not only is this path not an option - as the ECB won't back your debt sufficiently to make it sustainable - you can't even devalue.)
Friday, May 18, 2012

Outgoing PM Lucas Papademos has warned it would be "disastrous"
for Greece to reject the austerity measures, which come as a condition of its
bailout cash: Any modification... must be pursued in a spirit of consensus
and with the full agreement of European peers. A unilateral rejection of the
country's contractual obligations would be disastrous for Greece, leading
unavoidably outside the euro and possible outside the European
Union....The decisions we take could seal Greece's course for decades.
They could lead the country to the fringe, canceling historic national
achievements of the last 38 years.
Wednesday, March 21, 2012
Announcements coming out of Italy.

Saturday, March 17, 2012

Monday, January 23, 2012

Saturday, December 31, 2011
I'm happy to call The United States MY HOME !!!

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