"If you're going to panic, do it fast and beat the crowd." ~ Jesse Livermore

Friday, September 7, 2012

Don’t pin much faith to the Draghi plan - Telegraph

Don’t pin much faith to the Draghi plan - Telegraph: "The technocrat has spoken. Now it’s up to the politicians to act. The latter doesn’t necessarily follow the former."

Stock markets soar as Mario Draghi defies Germany and unleashes 'fully effective backstop' for euro - Telegraph: "Global stock markets jumped as Mario Draghi defied German opposition and launched an “unlimited” bond-buying programme that he said would provide a “fully effective backstop” to the stricken eurozone economies."

ECB's New Bond Plan: OMT! Crisis Averted, for Now
CNBC.com
For now, I guess it's good enough and that's what the euro/dollar shows,” Boris Schlossberg from BK Asset Management told CNBC. Pimco's Bill Gross tweeted that the ECB plan will help stabilize front-end yields, but added that euro zonehealing depends ...

CNBC.com

German industry orders rise, outlook still gloomy
Reuters
Germany's economy had long resisted the euro zone crisis, but growth slowed to 0.3 percent in the second quarter as firms concerned about the region's debt crisis cut back on investment and many economists now predict a third-quarter contraction.

Sterling edges up vs euro after ECB unveils bond plan
Reuters
LONDON, Sept 6 (Reuters) - Sterling inched higher against the euro on Thursday after investors learned little they were not expecting from ECB President Mario Draghi about a new bond-buying plan to tackle the euro zone debt crisis. Draghi said the ...

Euro Crisis - ILO Predicts Worse Youth Unemployment
AllAfrica.com
Jobless rates among young people will get even worse globally as the spill-over of the euro crisis spreads from advanced to emerging economies, according to a United Nations paper issued today. "Ironically, only in developed economies are youth ...

Riksbank Cuts Rates as Krona Surge Threatens Export Growth
Businessweek
“The bank's forecast for GDP growth next year is too optimistic” and “if our assumption that theeuro-zone debt crisis worsens proves correct, the krona is likely to continue to appreciate, reducing inflationary pressures further,” Ben May, an ...

German engineering body ups 2012 growth forecast to 2 pct
Reuters
The VDMA said it expected production to shrink in the first quarter of 2013 before powering ahead once more, saying it expected further full-year growth next year of two percent, on condition of a de-escalation in the euro zone crisis. "We are aware ...

Dutch pro-European parties lead in opinion polls
Reuters
AMSTERDAM (Reuters) - Two pro-European political parties in the Netherlands that backed bailouts are leading in the opinion polls one week before an election dominated by the euro zone crisis and austerity measures, three surveys showed on ...

Singer: Euro project fails to meet target | Prague Monitor
Political integration will not help resolve the euro zone's crisis either, according to him. It takes a long time to form a political union and also there is no support from people for such project, he said. Return to the original principles of the project ...
Prague Monitor

ECB unveils plan to buy government bonds, will publish full details of program
Washington Post
FRANKFURT, Germany — European Central Bank President Mario Draghi has unveiled a long-awaited program to buy up bonds and help bring down the borrowing costs of Europe's struggling governments. The plan envisions no set limit on the amount of ...

Risky Business Pays Off For Wall Street: Financial Crisis Penalties Pale ...
Huffington Post
To listen to bankers tell it, President Barack Obama has been their worst nightmare. But considering how easy banks have actually had it since the financial crisis, Obama seems to be a banker's dream come true. The banks can count the Dodd-Frank ...

Financial crisis bailout: Real numbers that matter
Alaska Dispatch
by Paul Kiel. Quick, how many billions in the red are taxpayers on the bailout of GM? AIG? Fannie and Freddie? Is it true that the government has reaped a profit from bailing out the banks? It should be easy to find answers to such questions. But while ...

Vietnam Risks Biggest East Asia IMF Rescue Since 1990s
Businessweek
Vietnam risks becoming the biggest East Asian economy to seek an International Monetary Fund rescue loan since the region's financial crisis more than a decade ago as it moves to support a faltering banking system. The nation may need IMF aid to ...

European economic crisis takes emotional toll
Catholic Online
Suicide, depression and a plethora of psychological problems have grown within the European Union in light of the ongoing economic crisis. This comes at a most inopportune time, as governments there have begun to cut healthcare spending by up to 50 ...

Rajoy Urges Merkel on ECB Bond Buying After Early Crisis Fumbles
San Francisco Chronicle
(See TOP CRIS for more on Europe's financial crisis.) Sept. 6 (Bloomberg) -- Spanish Prime Minister Mariano Rajoy called on German Chancellor Angela Merkel to show more flexibility in her handling of the euro-area crisis and back the European Central ...

ANALYSIS: Avoid Risks, Learn From the Financial Crisis
LoanSafe
(Source: Yap Leng Kuen Asia News Network (MCT) — Barclays Bank seems to have gotten into double trouble, this time the Libor interest rate-fixing scandal and payments to Qatar investors during the financial crisis, so much so that comments have ...

Will Russia avoid the global financial crisis?
Russia & India Report
All global financial shocks since 1990 have chiefly been expressed by the outflow of capital from developing countries, irrespective of whether these shocks were caused by developing countries themselves (like the 1997 global shock caused by the East ...

Eurozone Crisis Spain's Capital Flight Is Now Bigger Than Asian ...
Eurozone Crisis Spain's Capital Flight Is Now Bigger Than Asian Financial Crisis :: The Market Oracle :: Financial Markets Analysis & Forecasting Free Website.
The Market Oracle

Spain's Capital Flight Worse Than Asian Financial Crisis - Yahoo ...
From Yahoo! Finance: The flight of capital from Spain is now worse than what Indonesia, one of the hardest hit countries during the Asian financial crisis, ...

Fiscal Cliff Ahead: The Party's Over for the Payroll Tax Holiday
DailyFinance
A month ago, we mapped out the fiscal cliff America is hurtling toward, and the torturous trail of automatic budget cuts and unhindered tax increases that could send the economy screaming into the abyss. Pundits and analysts have largely focused their ...

The fiscal cliff looms, so why won't either party talk about it?
Deseret News
The fiscal cliff looms, so why won't either party talk about it? Print; Font [+] [-]. Leave a comment » ... An acknowledgement that a crisis can't be averted without the help of a sizeable portion of the people in the other party? Well, maybe you ...

Deseret News

Where Millionaires Are Investing As 'Fiscal Cliff' Nears
Forbes
With the beloved “fiscal cliff” about three months away, and the very real possibility of substantial tax hikes for those earning $250,000 a year in income and over a million bucks in net worth, America's high net worth individuals are hunkering down...
 
Forbes

Orszag: Congress Will Take US Over Fiscal Cliff, Deal With It Next Year
NewsMax.com
U.S. lawmakers will allow the country to go over a fiscal cliff on New Year's Eve but quickly return in January and deal with tax increases and spending cuts striking at the same time retroactively, said Peter Orszag, vice chairman of global banking at ...

Preparing For The Fiscal Cliff Debate
iStockAnalyst
(By Condor Options) The approaching U.S. fiscal cliff has been on the radar of every strategist and portfolio manager since the compromise was reached in 2011. If policymakers are not able to amend the current mix of changes, mandated spending and ...

iStockAnalyst

America's Real Fiscal Problem: Federal Gov't Has Become A Gigantic Wealth ...
Daily Markets
The charts above illustrate two disturbing trends that help frame the long-run fiscal challenges confronting the U.S. that far outweigh any possible near-term fallout from the pending “fiscal cliff” that the federal government faces at the end of this ...

Stop Worrying About Euro, Start Worrying About Dollar: HSBC
CNBC.com
"The combination of looser U.S. monetary policy and the fiscal cliff is moving the crisis away from the euro zone and towards the U.S. The further loosening of monetary policy should induce a 'risk-on' market environment — which is dollar negative.” ...

Earnings Disappointments Leave Corporate Bonds Vulnerable
Seeking Alpha
And with the 'fiscal cliff' rapidly approaching there's scope for quite a bit more deterioration ahead, in our view. It's not that second ... To our minds, these look overly optimistic even before considering the potential impact from the 'fiscal cliff ...

OECD slashes UK economic forecast
The Press Association
OECD slashes UK economic forecast. (UKPA) – 29 minutes ago. A respected think-tank has drastically slashed its forecast for the UK's economy as it predicted a 0.7% fall this year, having previously expected a rise of 0.5%. The Organisation for Economic ...

MAPI Economic Forecast: early gains in 2012 subside as momentum wanes
Logistics Management
According to the latest quarterly economic forecast from the Manufacturers Alliance for Productivity and Innovation (MAPI), deceleration in the U.S. manufacturing recovery in the second quarter of 2012 foretells slow economic growth in coming months.

MAPI Forecast: Deceleration On The Horizon
Manufacturing.net
The Manufacturers Alliance for Productivity and Innovation (MAPI) Quarterly Economic Forecastpredicts that inflation-adjusted gross domestic product (GDP) will expand by 2.0 percent in 2012 and by 1.7 percent in 2013, down from the 2.2 percent ...

REAL ESTATE: Economic Watch says “train has left the station”
Press-Enterprise (blog)
The credit market is on a slow thaw, said Schniepp, who directs the California Economic Forecast in Santa Barbara, publisher of The Economic Watch. Investors, who are buying 50 percent of all the distressed housing stock out there, are paying 5- to ...

America Economic Forecast By Dr. Martin Weiss 09/06 by Angel ...
Martin D. Weiss, Ph.D. is this country's leading consumer advocate for financial safety. He has helped millions of Americans judge the financial stability of ...

Key ECB steps to combat Europe's debt crisis
Boston.com
The goal was to lower the bond yields, making it cheaper for governments to borrow. The program temporarily held yields down, helping calm the debt crisis for a while. But the program had only limited impact. The ECB was unwilling to buy bonds on a ...

EU's Barroso: Debt crisis is a crisis of confidence
ForexLive (blog)
EU's Barroso: Debt crisis is a crisis of confidence. By Gerry Davies || September 6, 2012 at 07:24 GMT. || 6 comments || Add comment. Long-term unemployment rising fast in EU :(. Official speaking at conference in Brussels. EUR/USD slips lower as ...

6 ways to profit from Draghi's bond plan
MarketWatch
Individual investors who want to take a gamble on Europe's latest attempt to solve its debt crisis— a large-scale bond buying program announced Thursday by European Central Bank President Mario Draghi — can choose from a handful of exchange-traded ...

What Bill Clinton Knows about the Coming Debt Crisis
By Robert Wenzel
It means he knows it is a BIG problem and wants to be on record warning about it, but it also means, both Democrats and Republicans are going to use the debt crisis as a tool to instill fear in the public and call for higher taxes. In truth, a ...
EconomicPolicyJournal.com

European debt crisis dragging down world economy, report says
Los Angeles Times
The European debt crisis is pushing the continent into recession and dragging down the globaleconomy, according to a forecast released Thursday by the Organization for EconomicCooperation and Development. Growth in the world's seven major ...

Study: As US Drops Again, Swiss Economy Still Most Competitive
The New American
Having placed fifth last year and first in 2008 before Obama assumed power, the U.S. economy continued its downward spiral, slipping to an embarrassing seventh place in the most recent 2012-2013 rankings. Even Sweden, famous for its massive ...

Euro Economy Contracts
Wall Street Journal
Consumers and businesses in the 17 countries that share the euro cut spending in the three months to June, sending the currency area's economy into contraction despite a pickup in exports. The European Union's official statistics agency Eurostat ...

Euro Region's Contraction Led by Consumers, Investment: Economy
Businessweek
The Organization for Economic Cooperation and Development called today on officials to do more to tackle the region's debt crisis, which will continue to weigh on growth and confidence. European Central Bank President Mario Draghi may unveil details of ...

Bank of England leaves policy on hold
Reuters
Since the BoE's August meeting, a rebound in closely watched business surveys has increased hopes that the economy is crawling out of recession after three quarters of contraction, though the road to a proper recovery still looks bumpy. After the two ...

Unemployment benefits claims fall 12000
USA TODAY
WASHINGTON (AP) – Fewer Americans applied for unemployment benefits last week, and a private survey showed businesses stepped up hiring in August. The data sketched a brighter outlook for the U.S. job market one day before the government reports ...

USA TODAY

Spain economy minister defends austerity measures before Madrid visit by ...
Washington Post
MADRID — Spain's economy minister on Thursday defended the country's unpopular austerity measures pushed through this year by Prime Minister Mariano Rajoy, ahead of a key visit to Madrid by German Chancellor Angela Merkel. Spain's government is ...

Stocks Pare Gains With Euro as ECB Cuts Economy Forecast
Businessweek
Futures extended gains earlier after a private report showed employers added more jobs than forecast last month, bolstering optimism in the economy before tomorrow's government labor report. First-time unemployment claims were below forecast.

Remember Clinton's Booming Economy? Remember His ...
By Peter Suderman
Tonight, former President Bill Clinton will make the case for Barack Obama at the Democratic National Convention. The gist of his message will be that.
Reason.com Full Feed

Better Off? America's Economy Is in Crisis
By Investor's Business Daily
All weekend, Democratic party leaders kept fumbling their answer to a simple question: Are we better off than we were four years ago? There's a good reason for that: We're not. It wasn't until Monday that the campaign was able to figure out ...
RealClearPolitics - Homepage

Mark Hyman, MD: Money, Politics and Health Care: A Disease ...
By Mark Hyman, MD
Money in politics is making our nation sicker, threatening our national security, and ultimately destroying the very economic prosperity the "money in politics" seeks to achieve.
The Huffington Post Full Blog Feed

Nothing to cheer about Nigeria's economy – Don
By adekunle
BY SONI DANIEL ABUJA—There is nothing to celebrate about Nigeria being ranked the 39th among the world's leading economies, renowned economist and Director General of the Lagos-based West African Institute of Financial and ...
Vanguard News

Is The Economy On The Mend? - NYTimes.com
By By PAUL KRUGMAN
Is The Economy On The Mend? Advance excerpts from Bill Clinton's big speech tonight have him making the obvious argument: In Tampa the Republican argument against the President's re-election was pretty simple: We left him a total mess, ...
Paul Krugman

Euro zone's economy heads towards recession
Reuters
The EU's statistics office Eurostat confirmed on Thursday that gross domestic product in the 17 countries using the euro fell 0.2 percent quarter-on-quarter. It revised the year-on-year fall to 0.5 percent from a previously reported 0.4 percent. The ...

Euro Slips, Then Recovers After ECB Moves
Wall Street Journal
The euro weakened after the European Central Bank slashed its economic forecasts but the losses were limited after the bank also confirmed plans to buy the debt of fiscally stressed states under certain conditions, sending benchmark Spanish bond yields ...

Euro zone shares hit 6-mth high on ECB plan, US data
Reuters
LONDON, Sept 6 (Reuters) - European shares rallied and a key euro zone index hit six-month highs on Thursday as investors welcomed a European Central Bank plan to buy the sovereign bonds of debt market strugglers, as well as strong U.S. economic data ...

Euro Calm Spurs Fastest Bond Sales Since March: Credit Markets
Bloomberg
Borrowers taking advantage of relative calm in financial markets have issued $65.9 billion of corporate debt in the fastest start to a month since March as the euro zone enters one of the most pivotal periods in its 13- year history. Issuance ...

German industry orders rise, outlook still gloomy
Reuters
Germany's economy had long resisted the euro zone crisis, but growth slowed to 0.3 percent in the second quarter as firms concerned about the region's debt crisis cut back on investment and many economists now predict a third-quarter contraction.

Copper falls on dollar, ECB comments limit losses
Reuters
... the borrowing costs of struggling euro zone countries. ECB President Mario Draghi said the institution agreed to launch a new and potentially unlimited bond-buying program that would draw a line under the debt crisis that has shaken most economies ...

PRECIOUS-Gold at 6-mth high ahead of ECB meeting, US payrolls
Reuters
Gold, typically a safe-haven asset, has often tracked the fortunes of the euro and stocks, with speculators selling the metal for cash to cover losses in other markets as the euro zone debt crisis caused turbulence in financial markets. The metal has ...

Swiss economy shrinks under euro crisis pressure [Khaleej Times (United Arab ...
Equities.com
Al Bawaba Ltd. ZURICH - The Swiss economy unexpectedly shrank in the second quarter as theeuro zone crisis caught up with a country that had seemed relatively immune to its neighbours' woes, providing further justification for the central bank's cap ...

ECB moves to ease euro zone crisis - The Globe and Mail
European Central Bank (ECB) President Mario Draghi participates in the European ... ECB moves to ease euro zone crisis Add to . ... Consider a financial ETF ...

Euro Crisis - Google News

Fiscal Cliff - Google News

Economics, interest rates, house prices, inflation, Bank of England

Markets News - Global Financial Market News

Financial Crisis

Jeremy Warner - Finance and business comments

Ambrose Evans-Pritchard - Finance and business comments

Jeff Randall - Business and politics comments

New Normal News

Views under the Palm

johnyah