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

Thursday, September 6, 2012

World Economic Forum: US Competitiveness Slipping

World Economic Forum: US Competitiveness Slipping
Voice of America (blog)
The World Economic Forum says the United States, with the world's largest economy, is slipping in its global competitiveness because its political leaders have failed to deal with the country's rising debt and continued deficit spending. On Wednesday ... 

Europe's financial crisis: Waiting for ECB to ride to the rescue
Christian Science Monitor
If those countries fail to pay their debts on time, it could spark a financial crisis that could see the eurozone break up, spreading turmoil throughout the global economy. Analysts say Draghi's comments Thursday are likely to be constrained by the ...

Christian Science Monitor

Financial Crisis Ushers in 'The Age of Safety'
HispanicBusiness.com
Investing used to be about taking risk to make money. Then came the financial crisis four years ago and the Great Recession. Now it's more about playing it safe -- and not losing the money you already have. The "risk-off" trade, or dialing down risk in ...

HispanicBusiness.com

The Economic Crisis Isn't Colorblind
Huffington Post (blog)
As the presidential election season heats up, the candidates will clash over how the country should climb back from the 2008 economic slump. But often lost in that debate is recognition of the especially harsh impact the economic downturn has had on ...

Global financial crisis taking a toll on competitiveness of major economic powers
gulfnews.com
Dubai The global financial crisis has taken a toll in the competitiveness of the world's major economies, while countries in the emerging markets and the Middle East have improved rankings in the latest episode of the Global Competitiveness Report 2012 ...

gulfnews.com

Obama's Democratic Convention Speech: Explain the Financial Crisis
New America Foundation
Obama's Democratic Convention Speech: Explain the Financial Crisis. One of the most gifted orators in American history will take the stage in Charlotte to convince us the nation is not in decline. Peter Beinart on the two economical phrases Obama must ...

Commodity rout is no Global Financial Crisis moment
The Australian
Copper at $US5000 a tonne (against $US7635 at Tuesday's close on the London Metal Exchange), lead $US1500/tonne ($US1995 on Tuesday), nickel $US13,500/tonne (US$15,950 now), tin $US17,500/tonne ($US19,625 now) and zinc down from ...

Iran on the verge of severe financial crisis: intelligence report
Al-Arabiya
Iranian protests during the country's 2009 pro-democracy demonstrations. A purported Iranian intelligence report that has been leaked online warns of an imminent financial crisis in the country that would cause nation-wide upheaval. (Reuters) ...

Euro Rallies on ECB's Bond-Buying Plan to Contain Debt Crisis
San Francisco Chronicle
5 (Bloomberg) -- The euro rose against most of its 16 major peers after two central bank officials said European Central Bank President Mario Draghi will announce unlimited sterilized bond buying to quell the region's debt crisis. The 17-nation ...

Debt crisis: as it happened - September 5, 2012
Telegraph.co.uk
Michael Fuchs, a deputy parliamentary caucus leader in Mrs Merkel's Christian Democratic Union, said Germany will back European Central Bank bond purchases to help overcome the debt crisis only if such an operation is limited and recipient countries ...

Telegraph.co.uk

Debt-crisis danger for Italy over: PM
The Australian
THE risk that Italy may suffer the same fate as debt-crisis hit Greece has receded and economic recovery in the eurozone's third largest economy is in reach, Italian Prime Mario Monti says. "Remember how things were a year ago... we didn't know it well ...

Why China's Premier Wen Jiabao Is 'Worried' Over Eurozone Debt Crisis
Huffington Post
If Chinese Premier Wen Jiabao is concerned about the Eurozone debt crisis, than it is a signal for just about every other major economy to start sweating bullets. This is what the head of the Chinese government said recently: "The European debt crisis ...

Poland to Overshoot Deficit Target as Economy Slows
Businessweek
Poland will overshoot its 2012 budget-deficit target as the European Union's biggest eastern economy slows to its weakest pace in three years amid the euro region's debt crisis. Prime Minister Donald Tusk's government now expects a shortfall of 3.5 ...

Debt Crisis: Stocks down as worries weigh ahead of ECB meeting
Irish Independent
"On one hand, credible solutions to the debt crisis in Europeare emerging, but on the other hand the macro newsflow in the United States is turning ugly," said David Thebault, head of quantitative sales trading at Global Equities. Data showed on ...

Irish Independent

European Debt Crisis and FedEx Announcement Still Wall Street
KWTX
NEW YORK (September 5, 2012)--U.S. stock market futures are slipping after FedEx Corp. cut its profit outlook for the quarter ended last week, while the world waits for the latest move to stem Europe's debt crisis. FedEx said the weak global economy is ...

Euro Area Retail Sales Slump As Debt Crisis Risks Households
Action Forex
Figures from the Statistical Office of the European Union (Eurostat) showed on Wednesday that euro area retail sales dropped in July, signaling households are chained by the worsening debt crisis threatening to push the euro area economy into double ...

Roots of the Euro Crisis
New York Times
(Op-Ed, Aug. 27), Nicholas Sambanis argues that the euro crisis is at heart “an ethnic conflict.” Professor Sambanis makes a point about the introduction of the euro and the emergence of a European identity, although this identity never fully caught on ...

Euro bank retreat raises costs for Abu Dhabi's Emal
Reuters
DUBAI/LONDON, Sept 5 (Reuters) - Emirates Aluminium (Emal) will have to pay much higher rates to borrow money from banks to help finance a $4 billion smelter expansion due to the impact of the euro zone crisis on infrastructure lending in the Middle East.

Sick of the euro-crisis Chicken Littles yet?
MarketWatch (blog)
I was wondering why I couldn't find any headlines about the endless euro crisis and so I hit CTRL+F and searched Marketwatch's homepage for “euro” and sure enough, it was all over the front page after all. I mean, euro-crisis headlines dominate the ...

How money managers navigate the euro-zone crisis
MarketWatch
By Elizabeth O'Brien. Is stock picking skill enough to navigate the financial fallout from aeuro-zone breakup? That is the multibillion-dollar question for U.S. fund managers and financial advisers, many of whom are reluctant to withdraw entirely from ...

Swiss economy shrinks under euro crisis pressure
Business Recorder (blog)
The Swiss economy unexpectedly shrank in the second quarter as the euro 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 on the strong franc.

German Mittelstand Companies Expect Worse to Come in Euro Crisis
Businessweek
Germany's small and medium-sized companies, the backbone of Europe's biggest economy, are bracing for the debt crisis to worsen, a survey showed. Seventy-nine percent of Germany's “Mittelstand” companies anticipate greater turbulence in the economy ...

In euro crisis, US lessons unlearned
Washington Post
By contrast, European leaders have taken a cautious, incremental approach to their financial crisis, and now, as the euro zone completes the third year of economic travail, a turnaround is nowhere in sight. ... and Europe's agenda for the coming weeks ...

Economic crisis management in US, Europe
Washington Post
The United States moved quickly to counter its economic crisis in 2007, while Europe is now three years into a debate with no resolution. In the United States, growth has resumed and unemployment is falling, while the euro zone appears stalled ...

Eurozone Recession Likely Returned As Even Germany Is Hit By Debt Crisis
Huffington Post
The Purchasing Managers' Index (PMI), published by Markit, showed the economic rot that began in smaller periphery members of the 17-nation bloc is now taking hold even in Germany, the region's largest and strongest economy. August's ... RATE DEBATE A ...

Euro zone sales fall in July as consumers struggle
Reuters
BRUSSELS (Reuters) - Retail sales in the euro zone ended a two-month run of gains in July as volumes fell, highlighting consumers' battle with rising joblessness, wage cuts and restricted bank credit during a debt crisis that is eroding disposable incomes.

Oil slips to $113 on growth concerns before ECB
Reuters
LONDON (Reuters) - Brent crude oil slipped to around $113 a barrel on Wednesday on worries over economic growth and ahead of a European Central Bank (ECB) meeting expected to announce new measures to tackle the region's debt crisis. ECB President Mario ...

The Fiscal Cliff's Biggest Danger
NBCNews.com
As the end of 2012 approaches, the so-called "fiscal cliff" of tax increases scheduled to take effect for the 2013 tax year has gotten a lot of attention. Some policymakers have called for extensions of current tax cuts, while others seek more broad ...

'Fiscal cliff' tax hike won't kill dividend income
MarketWatch
MFS Investments strategist Mike Roberge discusses the continuing risks of a China slowdown, a euro breakup and the U.S. fiscal cliff with MarketWatch's Jonathan Burton. /conga/story/2012/09/trading-strategies.html 223796. But a broader perspective is ...

Pelosi calls on Obama, Romney to resolve fiscal cliff
Politico (blog)
CHARLOTTE, N.C. – House Minority Leader Nancy Pelosi called on President Barack Obama and Mitt Romney to hash out an agreement on the so-called fiscal cliff in the heat of this election season, which she said would help instill certainty in the economy.

Wednesday's letters: US heading toward fiscal cliff
Tampabay.com
... Saturday's letters: Column didn't name one 'silly' regulation · Sunday's letters: Food resources available for poor parents. Letters to the Editor. Wednesday's letters: U.S. heading toward fiscal cliff. In Print: Wednesday, September 5, 2012 ...

Craft serious approach to 'fiscal cliff'
Omaha World-Herald
Late last year, when both sides finally agreed to address the debt crisis, they disagreed on how to do it. That is how this fiscal cliff was created. Now it poses the single biggest economic threat to America's economic recovery. The U.S. Chamber ...

Schumer: GOP, Dems in talks to avoid fiscal cliff
Politico
CHARLOTTE, N.C. — Congress won't return for a lame-duck session until after the election, but Sen. Chuck Schumer says top lawmakers are already holding talks about how to avoid falling off the fiscal cliff. "There are conversations going on now about ...

Politico

Payroll Tax Holiday May Not Survive Year's End
NPR (blog)
An occasional series, Fiscal Cliff Notes breaks down the looming "fiscal cliff" of expiring tax cuts and deep automatic spending cuts set to hit around the first of year. If you work, you've probably been getting this tax break: Since January 2011, the ...

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