Forum

 
  Back to OzPolitic.com   Welcome, Guest. Please Login or Register
  Forum Home Album HelpSearch Recent Rules LoginRegister  
 

Pages: 1 ... 46 47 48 49 50 ... 117
Send Topic Print
For the Record (Read 224781 times)
perceptions_now
Gold Member
*****
Offline


Australian Politics

Posts: 11694
Perth  WA
Gender: male
Re: For the Record
Reply #705 - Jul 21st, 2012 at 11:28am
 
U.S. Stocks Fall Most in a Month as Euro, Metals Fall


U.S. stocks fell the most in a month, the euro weakened and commodities dropped after Spain said the recession will extend into next year and Chinese leaders pledged to clamp down on property speculation.

The euro sank to the lowest level against the yen since November 2000.

“The problem hasn’t gone away and the unnerving part is that it’s deepening,” said Bruce McCain, who helps oversee more than $20 billion as chief investment strategist at the private- banking unit of KeyCorp in Cleveland. “The Spanish ghost is rising again. It’s not only the banks. The regional governments also need help. We need global economic improvement before we see a vibrant rally in the market. Things are not better yet.”

The Spanish region of Valencia prepared to seek a rescue from the central government and European finance ministers approved the bailout of the nation’s banks. Spain’s gross domestic product will fall 0.5 percent in 2013 instead of rising 0.2 percent as the government predicted April 27, Budget Minister Cristobal Montoro said today in Madrid.

The nation’s 10-year bonds fell for a seventh day, sending yields up 26 basis points to 7.27 percent. Yields on Spanish five-year notes climbed to a euro-era record high.

Link -
http://www.bloomberg.com/news/2012-07-20/asian-stocks-drop-with-euro-on-global-g...
===========================
Well, the DOW did dip down 121 points (nearly 1%), but the big mover was Spain, which took a nose dive of nearly 6% overnight, with other major European indexes down between 1-2%.
http://www.forexpros.com/indices/major-indices

The Euro has also continued to slide, as reflected in the following chart and given the absolute basics of the European, US, China & Global situation, there is very little likelihood of a long term rally happening, vibrant or otherwise!
http://chart.finance.yahoo.com/z?s=EURUSD%3dX&t=5y&q=&l=&z=l&a=v&p=s&lang=en-AU&...
Back to top
 
 
IP Logged
 
perceptions_now
Gold Member
*****
Offline


Australian Politics

Posts: 11694
Perth  WA
Gender: male
Re: For the Record
Reply #706 - Jul 23rd, 2012 at 12:04pm
 
Mining boom forecast to end in two years


AUSTRALIA'S budget surplus has evaporated and its mining investment boom has only two years to run, according to Deloitte Access Economics.

The forecast marks a watershed in assessments of Australia's prospects, implying in the words of this morning's Access publication: ''The strong bit of Australia's two-speed economy won't stay strong for more than another two years or so''.

Deloitte Access Economics is Australia's leading private-sector budget forecaster, set up by former Treasury economists in 1988 to provide services to both sides of politics.

Its report says the mining investment boom will slow more sharply than expected. ''Mining companies are making it clear the current spike in investment is due to decisions taken a while back, whereas we are getting few new mining mega-projects across the line,'' it says.

Access stresses its forecast does not present an immediate threat to Australia's economic outlook but it comes after Labor's narrow byelection win in Melbourne in a state poll the Coalition did not contest, further complicating the task of next year's pre-election budget.

Access director Chris Richardson said the Treasurer, Wayne Swan, would face difficult decisions when delivering the budget update in November.

''If it shows this year's forecast $1.5 billion budget surplus is no longer there, he will have to decide whether to cut again in order to continue to forecast a surplus. The risk is the cuts will hurt.

''The window dressing in the May budget was designed not to hurt. One of the tricks was to bring spending forward from 2012-13 to 2011-12. It was a popular sleight of hand but it can't be done again. This time he would have to consider delaying payments, and that would be unpopular.''

He also said the carbon tax would have little economic impact. ''It is a far bigger issue politically than economically.''

Mr Swan hailed the Access report as an endorsement of Australia's economic strength, saying it helped show the carbon tax scare campaign ''was nothing more than a fraud''.

He took to Twitter using the hashtag #EcoFact to claim that Australia had just passed 21 consecutive years of economic growth. Previously used to denote discussion of ecological matters, the hashtag was taken over by critics who said the economy was in good shape ''despite Labor's efforts'' and that he had broken a promise over the defence budget.

Mr Richardson said he had no problems with the government's budget forecasts at the time they were presented. But since then, coal and iron ore prices had turned down and the sharemarket had dived.

''The budget is more exposed to commodity prices than it used to be. They drive profits which drives company tax, but they now also drive takings from the minerals resource rent tax.


''The budget forecast nominal [gross domestic product] growth of 5.5 per cent in 2011-12 and 5 per cent in 2012-13. Our forecasts have it more like 4.7 per cent and 4.2 per cent. Unless there's a fresh turnaround its forecasts won't be met.''

Mr Richardson was unable to predict by how much the budget would undershoot the government's May forecast, saying it was still a ''moving target''.

The shadow treasurer, Joe Hockey, said the budget surplus was under threat ''because it was never real in the first place''.

"Labor only forecast a surplus through a cook-the-books budget that was noted more for money shuffles than fiscal responsibility," he said.

Mr Richardson said one upside of an early end to the mining investment boom would be lower interest rates.

Link-
http://www.smh.com.au/business/mining-boom-forecast-to-end-in-two-years-20120722...
================================
As I have been saying, for some time, there are various Global factors driving the OZ & Global Economy, including Demographics (Baby Boomer Retirements) and the Peaking of Global Energy Supply, which is driving up Energy costs, leaving much less disposal income to dispose of!

In turn, these factors are leading Demand down a constricted spiral, both Locally in OZ & Globally.

In the super Consumer areas, such as the USA & Europe, this Demand Destruction means that Consumption in these 2 leading areas is in steady decline and will be for at least several decades.

In turn, this means that the worlds key product Production areas of China, Japan & S/E Asia will not be able to sell the same amount of goods & they will therefore have to scale back Production, which is already under way.

Finally, as Production is scaled back in these areas, their requirement for raw materials such as Iron Ore & Coal will also Decline.

And, that is where the Australian mining sector goes into Decline, along with the rest of the OZ Economy!

Can the Australian Labor Party reverse any of this?
The answer is NO!

Can the Australian Liberal Party reverse any of this?
The answer is NO!

Welcome to the real world.

Btw, this trend has been under way for some time already & I expect that 2013-14 will certainly see the trend become apparent to almost all, with the possible exception of Longweekend.
Back to top
« Last Edit: Jul 23rd, 2012 at 1:31pm by perceptions_now »  
 
IP Logged
 
perceptions_now
Gold Member
*****
Offline


Australian Politics

Posts: 11694
Perth  WA
Gender: male
Re: For the Record
Reply #707 - Jul 23rd, 2012 at 6:25pm
 
It looks like another "interesting" night?

The DOW Futures market is currently down over 100 points.
http://www.forexpros.com/indices/us-30-futures-advanced-chart

The big 3 European players (UK, Germany & France) are currently down 1.5% & more, Spain is down another 3% and the Italians are down nearly 3%.
http://www.forexpros.com/indices/major-indices 

Have fun?

Back to top
 
 
IP Logged
 
perceptions_now
Gold Member
*****
Offline


Australian Politics

Posts: 11694
Perth  WA
Gender: male
Re: For the Record
Reply #708 - Jul 23rd, 2012 at 11:13pm
 
perceptions_now wrote on Jul 23rd, 2012 at 6:25pm:
It looks like another "interesting" night?

The DOW Futures market is currently down over 100 points.
http://www.forexpros.com/indices/us-30-futures-advanced-chart

The big 3 European players (UK, Germany & France) are currently down 1.5% & more, Spain is down another 3% and the Italians are down nearly 3%.
http://www.forexpros.com/indices/major-indices 

Have fun?



Well, it is looking like a big night?

The DOW Futures market is currently down over 200 points.
http://www.forexpros.com/indices/us-30-futures-advanced-chart

The big 3 European players (UK, Germany & France) are currently down between 2.5-3.5%.

Whilst Spain has improved, to be down only 2.6%, but the Italians have slipped further and are now down over 4%.

http://www.forexpros.com/indices/major-indices

Have fun?
Back to top
 
 
IP Logged
 
perceptions_now
Gold Member
*****
Offline


Australian Politics

Posts: 11694
Perth  WA
Gender: male
Re: For the Record
Reply #709 - Jul 23rd, 2012 at 11:37pm
 
perceptions_now wrote on Jul 23rd, 2012 at 11:13pm:
perceptions_now wrote on Jul 23rd, 2012 at 6:25pm:
It looks like another "interesting" night?

The DOW Futures market is currently down over 100 points.
http://www.forexpros.com/indices/us-30-futures-advanced-chart

The big 3 European players (UK, Germany & France) are currently down 1.5% & more, Spain is down another 3% and the Italians are down nearly 3%.
http://www.forexpros.com/indices/major-indices 

Have fun?



Well, it is looking like a big night?

The DOW Futures market is currently down over 200 points.
http://www.forexpros.com/indices/us-30-futures-advanced-chart

The big 3 European players (UK, Germany & France) are currently down between 2.5-3.5%.

Whilst Spain has improved, to be down only 2.6%, but the Italians have slipped further and are now down over 4%.

http://www.forexpros.com/indices/major-indices

Have fun?


Well, the ticker is off & running, the DOW has opened & is now DOWN some 220 points.

It promises to be a long night, but I must rise early tomorrow, so it's goodnight from me!

http://www.forexpros.com/indices/us-30
Back to top
 
 
IP Logged
 
perceptions_now
Gold Member
*****
Offline


Australian Politics

Posts: 11694
Perth  WA
Gender: male
Re: For the Record
Reply #710 - Jul 25th, 2012 at 9:17am
 
DOW Down

The DOW finished down 104 points overnight, after being down some 200 points ealier.
The big 3 European players (UK, Germany & France) went down around 0.5-1.0%, Spain went down another 3.6%, whilst the Italians were down 2.7%.

http://www.forexpros.com/indices/major-indices 

The DOW Futures market is currently down some 35 points.
http://www.forexpros.com/indices/us-30-futures-advanced-chart

More fun in the OZ market today?

I would suggest some "feel good comments" are on the way, from the US Fed Reserves, maybe this weekend.



Back to top
 
 
IP Logged
 
perceptions_now
Gold Member
*****
Offline


Australian Politics

Posts: 11694
Perth  WA
Gender: male
Re: For the Record
Reply #711 - Jul 26th, 2012 at 12:02am
 
perceptions_now wrote on Jul 25th, 2012 at 9:17am:
DOW Down

The DOW finished down 104 points overnight, after being down some 200 points ealier.
The big 3 European players (UK, Germany & France) went down around 0.5-1.0%, Spain went down another 3.6%, whilst the Italians were down 2.7%.

http://www.forexpros.com/indices/major-indices 

The DOW Futures market is currently down some 35 points.
http://www.forexpros.com/indices/us-30-futures-advanced-chart

More fun in the OZ market today?

I would suggest some "feel good comments" are on the way, from the US Fed Reserves, maybe this weekend.





The Fed may have gone early & tried sub contracting out their "feel good comments" to Europe, with talk of MORE BAILOUT MONEY GOING DIRECT TO EUROPEAN BANKS?

I can't see that "feel good moment" lasting all that long, but it won't stop the Fed from trying again!

Back to top
 
 
IP Logged
 
perceptions_now
Gold Member
*****
Offline


Australian Politics

Posts: 11694
Perth  WA
Gender: male
Re: For the Record
Reply #712 - Jul 26th, 2012 at 3:48pm
 
Market Preview


So now it seems sentiment is starting to shift away from asking if the Federal Reserve will unleash additional stimulus to trying to pin down when.

But maybe the bigger question is what can investors reasonably expect more action from the Fed to accomplish? With the yield on the 10-year Treasury hovering right around historic lows, it's not like the central bank can do much to lessen the attractiveness of bonds and encourage investors to take more risk. They clearly don't want to go that route in a world where the U.S. economy is limping along, the future of the eurozone is in doubt and growth in China is slowing.

Paul Dales, chief U.S. economist at Capital Economic, weighed in on what the Fed does next in commentary released on Wednesday, putting the odds of QE3 arriving by the end of 2012 at 50/50. He doubts the Fed will take action at its policy meeting next week but acknowledges the trend in the data is worrisome to point in that direction.

"It is pretty clear that the economic recovery looks more fragile now than it did last month," he said. "Since the previous FOMC meeting it has emerged that non-farm payroll employment rose by less than 100,000 for the third month in a row in June. And the drop in the ISM manufacturing index to below the symbolic 50 mark in the same month points to a slowdown in annualised GDP growth to between 1.0% and 1.5%." 

While QE3 may not be a done deal, Dales said he's becoming "more convinced" that the Fed could get creative, "possibly launching its own version of the Bank of England's funding for lending scheme" and he thinks this could have a bigger impact on the economy than another round of bond buying.

"[G]iven that some households are still struggling to get credit, we doubt that QE3 would alter the economic outlook materially," he said. "The Fed appears to be coming round to this view. So even if doesn't launch QE3, it may well establish its own version of the Bank of England's funding for lending scheme in an attempt to boost the supply of credit."

The economic calendar includes weekly initial and continuing jobless claims at 8:30 a.m. ET; durable goods orders for June at 8:30 a.m. ET; and pending home sales for June at 10 a.m. ET.

The consensus expectation is for initial claims to come in at 381,000, down slightly from last week's 386,000 total, according to Briefing.com. Jim O'Sullivan, chief U.S. economist at High Frequency Economics, is a little higher than that with an estimate of 390,000. He says this report should be viewed as pretty clean with any noise and distortions from the spring and annual auto plant shutdowns finally filtered out.

Link -
http://www.thestreet.com/story/11638646/4/market-preview-facebooks-folly.html
================================
What will the US Fed try next?
Back to top
 
 
IP Logged
 
perceptions_now
Gold Member
*****
Offline


Australian Politics

Posts: 11694
Perth  WA
Gender: male
Re: For the Record
Reply #713 - Jul 26th, 2012 at 4:25pm
 
Amid energy shortages, a record first-half trade deficit for Japan


Japan posted its biggest first-half trade deficit on record, according to government figures released Wednesday, highlighting the economic consequences for this nuclear-averse country of importing fossil fuels to meet its energy needs.

The Finance Ministry reported a 2.92 trillion yen (or $37.3 billion) trade deficit, which reflected not only Japan’s surging need for oil and liquefied natural gas (LNG), but also weakened exports to slumping markets such as Europe and China.

The world’s third-largest economy has averted economic crisis this year largely because of a spike in domestic demand, spurred by reconstruction of the earthquake- and tsunami-devastated northeast.

But in the long term, Japan faces some troubling challenges: Its famed exporters — automakers and tech giants — are pinched by a global economic slowdown. Meanwhile, the country’s enduring wariness of nuclear energy has led to record imports of fossil fuels, which arrive here on hulking tankers and help prevent the nightmare scenario of blackouts during the sweltering summer.

Japanese Prime Minister Yoshihiko Noda has lobbied for months about the need to resume the use of nuclear power, which once supplied a third of Japan’s energy. For now, though, only two of the nation’s 50 atomic reactors are online. Many regions face energy-saving targets, handcuffing manufacturers.

Japan’s trade numbers last year moved into the red for the first time since 1980, and analysts say that Japan will continue to carry a deficit until it restarts more reactors — or devises a homegrown alternative, perhaps by boosting the use of renewable fuels.

According to the government statistics, so-called mineral fuels — oil, LNG and coal — accounted for 35.5 percent of Japan’s imports between January and June, up 21 percent compared with a year earlier. LNG imports were up 49.2 percent, and oil imports were up 15.7 percent.

Japan’s central government hopes the energy gap is temporary. But a majority in Japan, in the wake of last year’s triple meltdown at the Fukushima Daiichi plant, say they have doubts about the safety of nuclear power.

Link -
http://www.washingtonpost.com/world/asia_pacific/amid-energy-shortages-a-record-...
=============================
1) The Japanese can not replace their Energy needs with a "homegrown" replacement, as nothing exists, which is capable of doing that, on the scale required, without being Net Energy NEGATIVE & horrendously expensive They may be forced to go back to Nuclear Energy, with all the high risks implied, as were seen last year, albeit via a great deal of misinformation given out by the Japanese authorities & many others (particularly governments & the Nuclear Energy lobby) around the world.

2) The Japanese are already between a "Rock & a Hard Place", with their Debt to GDP ratio already above 240%, which compares to a current OZ ratio of around 20%.

3) Given the rapidly Aging nature of the Japanese Demographics, there would be little chance of their government stimulating an Economic recovery, even IF they had the scope via lower Debts, which they clearly don't!

4) The Japanese experience has been one of a gradually stagnating/worsening Economy, since the Demographics turned and started to Age around 1990. Their Property market has since shed some 50% & their Stock Market has Declined some 80%, since it's Peak in December, 1989.
http://au.finance.yahoo.com/echarts?s=^N225#symbol=^n225;range=my;compare=;indic...
5) However, Japan was actually lucky, since the rest of the world enjoyed a massive boom from around 1995-2006, as the Global Baby Boomers enjoyed their Peak Earning & Spending years.
6) In late 2007, the rest of the world entered a similar position to where the Japanese Demographics entered in 1990.
However, there are some major differences -
a) Japan had a Booming rest of the world to support it, obviously that does not apply now, as it is the rest of the world now sliding in the same Demographic pattern! b) Energy, via the staples of Oil & Coal, where still supposedly in plentiful Supply, at very cheap Prices.
The Supply of those basic Energy staples is now under mounting pressure & the Prices have already risen substantially, putting enormous pressure on the disposable income of Individuals & Government, alike!

Good luck & watch the Debt - Skyrocket!   


Back to top
 
 
IP Logged
 
perceptions_now
Gold Member
*****
Offline


Australian Politics

Posts: 11694
Perth  WA
Gender: male
Re: For the Record
Reply #714 - Jul 28th, 2012 at 12:24pm
 
China's population and economy are a double whammy for the world


China's 'one-child' policy has slowed population growth and brought prosperity — but it couldn't avert massive damage to the environment.

For more than three decades, the most populous nation on Earth has been running a massive social experiment, using elaborate incentives and penalties to limit family size.

The aim was to banish hunger and raise living standards, and by many measures the results have been impressive. By reducing the number of dependents per household and freeing more women to enter the workforce, population control efforts have helped lift hundreds of millions of people out of poverty and contributed to China's spectacular economic growth.

Prosperity has exacted a steep environmental toll, however.

The colossal industrial expansion of recent decades has depleted natural resources and polluted the skies and streams. China now consumes half the world's coal supply. It leads all nations in emissions of carbon dioxide, the main contributor to global warming. Pollutants from its smokestacks cause acid rain in Seoul and Tokyo.

China's experience shows how rising consumption and even modest rates of population growth magnify each other's impact on the planet.

The country's population of 1.3 billion is increasing, even with the controls on family size. What is driving the growth is that hundreds of millions of Chinese are still in their reproductive years. On such a huge base, even one or two children per couple adds large numbers — an effect known as population momentum.

Moreover, the Chinese are living better overall: consuming more food, energy and goods than ever. One-fourth of the population — the equivalent of everyone in the United States — has entered the middle class.

The U.S. consumes much more per person. But with a population four times larger, China has a greater collective appetite — and a greater ecological impact — than any other country.

The compounding forces of economic and population growth are a source of increasing concern to scientists. An international team of 1,300 researchers organized by the United Nations concluded that evidence points to "abrupt and potentially irreversible changes" in ecosystems in the next few decades, including mass extinctions and rapid climate change.

Within China, signs of environmental damage are pervasive: massive fish kills, lung-searing smog, denuded landscapes. They have stirred popular discontent and the beginnings of greater official concern for curbing pollution and preserving natural resources.

How this drama plays out is not merely China's concern. Because of the nation's sheer size, the rest of the world has an enormous stake in the outcome.

To drive the birthrate down further, Deng Xiaoping imposed the "one-child policy" in 1979. It led to mandated abortions and other abuses by zealous enforcers.

Today, there are many exceptions to the rule: Rural couples and ethnic minorities, for instance, can have two or more children.

Yu, the family planning official, acknowledged that the policy has caused hardships.

But he said such forbearance benefited the country, creating a bulge of working-age people with fewer dependents. The resulting burst in productivity is known as the demographic dividend.

Those who work for the vast family planning bureaucracy take great pride in what they see as their contributions to China's prosperity.

In discussing the country's population policies, the giddy bureaucrats turned again and again to the economic rewards. "We want to get rich before we get old," was a common refrain.

In Shanghai, whose population of 23 million exceeds that of Australia, high-rises sprawl in all directions until their silhouettes slip from view, obscured by brown haze.

China, by varying estimates, has more than 100 cities with 1 million or more residents, compared with 9 in the United States. The number of million-plus cities will reach 221 within two decades, according to the McKinsey Global Institute, an economics research firm. More than a dozen will have populations of 25 million or more each.

All this development is being stitched together with high-speed rail and new highways to prepare for 600 million vehicles expected on the roads by 2050.

The U.S. automotive fleet, by far the largest in the world, is less than half that size.


China isn't hustling just to satisfy the demand from the United States and other countries for cheap merchandise. Increasingly, it is bent on meeting the needs of its own people.

More and more, it is being forced to confront the environmental consequences.

In nearby Datong, a thick gray-brown haze clings to the city like a dark mist, obscuring the tops of high-rises.

A half-day's drive south is the ancient city of Linfen, identified by the World Bank six years ago as the most polluted city on Earth.

The city, once known for its fruit and flowers, is now infamous for respiratory illnesses and the shroud of smog that regularly blots out the sun. When the sun does manage to poke through, it appears as a burnt orange fireball, reminiscent of Southern California's eerie skies during raging wildfires.

China likes to consider itself the world's factory. Yet it has also become the world's smokestack.

Tendrils of soot extend across the Pacific. On some days, almost 25% of the pollutants in the air above Los Angeles originated in China, the Environmental Protection Agency has found.

After the World Bank's rebuke, officials in Shanxi province closed some of the illegal coal mines in Linfen and its dirtiest coal-fired furnaces.

Such steps reduce pollution at the local level. But they do nothing to curb China's consumption of coal or the resulting carbon dioxide emissions.

China relies on coal to meet about two-thirds of its energy needs. Despite major investments in solar, wind and nuclear energy, coal consumption continues to climb.

Although China has the third-largest reserves in the world, it is reaching around the world for more. It overtook Japan this year as the world's largest coal importer, drawing mostly from Indonesia and Australia. Its imports are expected to double by 2015.

Those trends are worrisome to climate scientists, who say that in order to avoid a potentially catastrophic rise in global temperatures, worldwide carbon dioxide emissions must be cut in half by 2050.

For that to happen, China's emissions would have to peak by 2020, said Nobuo Tanaka, former director of the Paris-based International Energy Agency, which advises governments on energy issues. But by China's own projections, its output will rise at least 50% from current levels before peaking around 2035.

It would be all but impossible for other nations to compensate for such an increase, Tanaka said.

Chinese leaders say that capping emissions would cripple industrial growth and urban development in a country that still has 100 million poor people.

The industrialized countries polluted their way to prosperity, their argument goes, so why should the Chinese be penalized?

China's leaders also have sought credit for their population control policies, which they say averted 400 million births and thus billions of tons of greenhouse gas emissions.

At the same time, they acknowledge that the one-child policy was never meant to be permanent. When it was started in 1979, officials promised to revisit the issue in 30 years. There is some internal pressure and even more international pressure to lift the restrictions.

Link-
http://www.latimes.com/news/nationworld/world/population/la-fg-population-matter...
==============================
Dilemma's, the world is full of dilemma's!

China, India, the existing industrialised Western World all want the same things, but we can't all have, all that we want, because the world has not got the resources to supply what we all want, nor has the planet got the capacity to maintain the Climate necessary for humanity to continue to expand at the rate of the last 100 years!

Things are set to change, either by the free willed choices of humanity, by the accidents caused by humanity not making those choices or by the planet invoking its own remedies, because we avoided making the necessary choices!

At present, these necessary choices are not being made, because self interest is getting in the way and unless that is addressed quickly it will result in the interests of all being downgraded. That downgrading may well be substantial and the final outcome would be one where there are no winners? 

For all of those who want a continuation of the status quo, I say we can not, it is not possible.

We are already verging on the edges of the planets capacity to satisfy our Energy requirements, for a Global Population of some 7 Billion, most of whom are no where near being "middle class".

In fact, we are already at or very close to Peak Energy Production, particularly in the most widely used Energy formats, those being Crude Oil & Coal and there are no Energy replacements available, that would not result in a large net loss of Energy Production.

That said, the worlds two most Populace countries are now trying to bring more of their populations into the middle class and they will greatly increase the Global Energy Consumption.

In so doing, there will be great consequence, for human Economics, for the planets climate, for the quicker depletion of our planets capacity to keep up the Supply of Energy, even for our current 7 billion people, let alone any more. 

As I said, we have choices, we still have choices!

But, if we don't choose, then the choices will be made for us!!! 
Back to top
 
 
IP Logged
 
perceptions_now
Gold Member
*****
Offline


Australian Politics

Posts: 11694
Perth  WA
Gender: male
Re: For the Record
Reply #715 - Jul 28th, 2012 at 3:09pm
 
perceptions_now wrote on Jul 26th, 2012 at 3:48pm:
Market Preview


So now it seems sentiment is starting to shift away from asking if the Federal Reserve will unleash additional stimulus to trying to pin down when.

But maybe the bigger question is what can investors reasonably expect more action from the Fed to accomplish? With the yield on the 10-year Treasury hovering right around historic lows, it's not like the central bank can do much to lessen the attractiveness of bonds and encourage investors to take more risk. They clearly don't want to go that route in a world where the U.S. economy is limping along, the future of the eurozone is in doubt and growth in China is slowing.

Paul Dales, chief U.S. economist at Capital Economic, weighed in on what the Fed does next in commentary released on Wednesday, putting the odds of QE3 arriving by the end of 2012 at 50/50. He doubts the Fed will take action at its policy meeting next week but acknowledges the trend in the data is worrisome to point in that direction.

"It is pretty clear that the economic recovery looks more fragile now than it did last month," he said. "Since the previous FOMC meeting it has emerged that non-farm payroll employment rose by less than 100,000 for the third month in a row in June. And the drop in the ISM manufacturing index to below the symbolic 50 mark in the same month points to a slowdown in annualised GDP growth to between 1.0% and 1.5%." 

While QE3 may not be a done deal, Dales said he's becoming "more convinced" that the Fed could get creative, "possibly launching its own version of the Bank of England's funding for lending scheme" and he thinks this could have a bigger impact on the economy than another round of bond buying.

"[G]iven that some households are still struggling to get credit, we doubt that QE3 would alter the economic outlook materially," he said. "The Fed appears to be coming round to this view. So even if doesn't launch QE3, it may well establish its own version of the Bank of England's funding for lending scheme in an attempt to boost the supply of credit."

The economic calendar includes weekly initial and continuing jobless claims at 8:30 a.m. ET; durable goods orders for June at 8:30 a.m. ET; and pending home sales for June at 10 a.m. ET.

The consensus expectation is for initial claims to come in at 381,000, down slightly from last week's 386,000 total, according to Briefing.com. Jim O'Sullivan, chief U.S. economist at High Frequency Economics, is a little higher than that with an estimate of 390,000. He says this report should be viewed as pretty clean with any noise and distortions from the spring and annual auto plant shutdowns finally filtered out.

Link -
http://www.thestreet.com/story/11638646/4/market-preview-facebooks-folly.html
================================
What will the US Fed try next?


Rally drives S&P 500 to highest close since May 3


NEW YORK (Reuters) - Stocks surged on Friday, driving the S&P 500 to its highest close since May 3 as hopes increased that the Federal Reserve and the European Central Bank may provide further stimulus.

Taken together, the S&P 500's two-day move was its biggest since December, driven by optimism that central banks will ride to the rescue with more aid for the world economy. The S&P 500 rose 3.6 percent in those two days, and the moves come before key meetings of both the Fed and the ECB next week.

The Dow ended above 13,000 for the first time since May 7.

"The reason the market's doing well today and did well yesterday is we have another round of supportive rhetoric coming out of Europe," said Leo Grohowski, who oversees more than $170 billion in client assets as chief investment officer at BNY Mellon Wealth Management in New York.

The U.S. economic picture remained bleak and earnings continued to disappoint investors. Shares of Facebook (FB.O) hit an all-time low on Friday after posting its first-ever results, while S&P 500 guidance on the current quarter is the most negative it's been since 2001, Thomson Reuters data showed.

The Dow Jones industrial average (^DJI) climbed 187.73 points, or 1.46 percent, to close at 13,075.66.

On Thursday, stocks had jumped as the ECB chief said he would do whatever it takes to save the euro.


Third-quarter earnings now are expected to decline 0.4 percent from a year ago. Just a week earlier, the third-quarter forecast called for growth of 1.4 percent, Thomson Reuters data showed.

While 67 percent of the 290 S&P 500 companies that have reported second-quarter results so far have beaten earnings expectations, just 40 percent have beaten revenue estimates, the lowest amount since the first quarter of 2009, Thomson Reuters data shows.

Helping the argument for more stimulus, data showed U.S. gross domestic product growth slowed to a 1.5 percent annual rate in the second quarter as consumers spent at their most sluggish pace in a year.

Link -
http://finance.yahoo.com/news/stock-futures-signal-higher-open-084156341.html
================================
Let's be clear here that there is nothing that the US Fed, the ECB or any other government or non government organization can do to effectively Grow their national &/or the Global Economy, due to the basic Global factors that are influencing events & will continue to do so for the next few decades!

A this stage, all these organizations can do is postpone the final outcomes, but in doing so, they will most probably make those outcomes worse!


Back to top
 
 
IP Logged
 
perceptions_now
Gold Member
*****
Offline


Australian Politics

Posts: 11694
Perth  WA
Gender: male
Re: For the Record
Reply #716 - Jul 30th, 2012 at 1:33pm
 
Federal Bankruptcy Court Lets Stockton, California Cut Retiree Health Care Benefits; Flood of City Bankruptcies Coming


     A federal bankruptcy judge on Friday cleared the way for Stockton, California to cut health care benefits for retirees while it is in bankruptcy proceedings.

    Stockton is seeking Chapter 9 protection from its creditors and said that it would cut retiree health benefits while it reorganizes. Retired employees sued to stop those cuts.


    Judge Christopher Klein on Friday issued a temporary order denying the bid to stop the benefit cuts, and he said a formal decision was on its way.

    Stockton's attorneys had argued that bankruptcy law gave the city wide latitude on how to spend its revenue while it prepares a plan to restructure its finances.

    "For the reasons explained in the forthcoming decision of this court, the Application for Temporary Restraining Order and Preliminary Injunction or in the Alternative for Relief from Stay is DENIED," Klein wrote.

Flood of City Bankruptcies Coming
The next step needs to be huge clawbacks on promised benefits, preferably top down, so that those with the highest pension benefits bear the brunt of the hit.

As soon as cities realize this is the way out, a flood of bankruptcies will be on the way.


Link -
http://globaleconomicanalysis.blogspot.com.au/2012/07/federal-bankruptcy-court-l...
==================================
Welcome to the new world?



Back to top
 
 
IP Logged
 
perceptions_now
Gold Member
*****
Offline


Australian Politics

Posts: 11694
Perth  WA
Gender: male
Re: For the Record
Reply #717 - Aug 4th, 2012 at 10:24pm
 
Postal Service could run out of cash in October


Without help from Congress, the Postal Service will not only default on payments for retiree health care benefits, but it could lack cash for operations by mid-October.

As of midnight Wednesday, the Postal Service was in default -- for the first time in its history -- on a $5.5 billion payment owed the federal government to prepay health care benefits for retirees.


While the Postal Service is in big financial trouble due to fewer people sending mail and the mandate to prepay retiree benefits, the default is largely symbolic. The agency will skip that payment and another $5.6 billion payment due Sept. 30, while continuing to pay employees and contractors to deliver the mail on time.

However, by Oct. 15, the agency's cash crunch could result in a $100 million shortfall, according to David C. Williams, the service's inspector general.

"We concur with the Postal Service's projections that it might not have sufficient cash to fund its operations in October 2012 and at other times during Fiscal Year 2013," Williams wrote in a July 25 memo.

The timing is significant, because experts don't expect Congress to make much headway on saving the Postal Service until after the November election. While the Senate passed a bill in April, the House has yet to take up its version.

If the Postal Service runs out of money in October, it may be brief, according to the service and the inspector general's office. The service is expecting an uptick in mail volume and revenue thanks to the 2012 presidential election and the holiday season to help make ends meet.

But if election and holiday mail don't come through, financial shortfalls could be worse, the inspector general warns.

The Postal Service has a back-up plan to conserve cash so it'll be able to deliver mail on time and keep the lights on at post offices. It would skip paying into the federal retirement system and would skimp on workers compensation payments due to the Department of Labor.

Stiffing the retirement system wouldn't be so bad, since the Postal Service has overpaid that program to the tune of $11.4 billion. Both bills in Congress would allow the service to recoup that money in order to pay off other debts, including a $12.7 billion loan from Treasury.

But short-changing the workers' compensation payments could have consequences, the inspector general warned. The Department of Labor may not have enough in reserve for its program, which compensates federal employees who have been injured on the job.

Postal Service Chief Financial Officer Stephen J. Masse said officials hadn't made a decision about whether to take any "extraordinary cash preservation measures" and would monitor the cash situation.

Postal watchers expect the House to take up a bill authored by Rep. Darrell Issa, a California Republican, after Nov. 6. If the bill passes, then the two chambers would meet to resolve differences between the bills.

"They're not going to be doing anything other than posturing before the election," said Anthony Conway, executive director of the Alliance of Nonprofit Mailers. "While I think Issa has the votes, it's a tough vote to take right before the election."

Conway says he expects Congress will eventually step up and rescue the Postal Service before the agency is forced to contemplate the kind of insolvency that would prevent workers from being paid.

Link -
http://money.cnn.com/2012/08/01/news/economy/postal-service/index.htm?iid=HP_LN
===================================
Got any snail mail, going to the good old US of A, then post it quick, may be the right trick?
Back to top
 
 
IP Logged
 
Ex Dame Pansi
Gold Member
*****
Offline


Australian Politics

Posts: 24168
Re: For the Record
Reply #718 - Aug 5th, 2012 at 4:47pm
 
Three Californian cities go bankrupt.

The baby boomers pensions seem to come as a surprise. We Queenslander's should be thankful that we  don't have to rely on the Qld government for our pension.

To be honest, I've never heard of a city going broke.
........................................................


Last month, Stockton became the largest city in the state to seek bankruptcy protection after it was unable to come to agreement with its employee unions and creditors on a plan to close a $26-million gap in its general fund.

On July 2, the tiny resort town of Mammoth Lakes filed bankruptcy papers in part because it was saddled with a $43-million court judgment it couldn't pay.


San Bernardino couldn't close a $45.8-million budget shortfall and would be unable make its payroll this summer, city leaders said. Days before Tuesday's City Council vote, the city of 211,00 people had just $150,000 in the bank. The city barely scraped together enough money to cover its June payroll.

Rising public pension costs are one of the catalysts pushing cities into fiscal peril.

http://latimesblogs.latimes.com/lanow/2012/07/san-bernardino-bankruptcy-could-ot...


Back to top
 

"When the power of love overcomes the love of power, the world will know peace." Hendrix
andrei said: Great isn't it? Seeing boatloads of what is nothing more than human garbage turn up.....
 
IP Logged
 
perceptions_now
Gold Member
*****
Offline


Australian Politics

Posts: 11694
Perth  WA
Gender: male
Re: For the Record
Reply #719 - Aug 5th, 2012 at 11:41pm
 
Ex Dame Pansi wrote on Aug 5th, 2012 at 4:47pm:
Three Californian cities go bankrupt.

The baby boomers pensions seem to come as a surprise. We Queenslander's should be thankful that we  don't have to rely on the Qld government for our pension.

To be honest, I've never heard of a city going broke.
........................................................


Last month, Stockton became the largest city in the state to seek bankruptcy protection after it was unable to come to agreement with its employee unions and creditors on a plan to close a $26-million gap in its general fund.

On July 2, the tiny resort town of Mammoth Lakes filed bankruptcy papers in part because it was saddled with a $43-million court judgment it couldn't pay.


San Bernardino couldn't close a $45.8-million budget shortfall and would be unable make its payroll this summer, city leaders said. Days before Tuesday's City Council vote, the city of 211,00 people had just $150,000 in the bank. The city barely scraped together enough money to cover its June payroll.

Rising public pension costs are one of the catalysts pushing cities into fiscal peril.

http://latimesblogs.latimes.com/lanow/2012/07/san-bernardino-bankruptcy-could-ot...


Many more to come, regrettably!

Clearly, the Baby Boomer Boom (circa 1983-2005, which Peaked from 1995-2005) & the Baby Boomer Bust )circa 2006-????) were both evident, predictable and were predicted, by some who followed the effects of Demographics.

Just as clearly, there were/are many who thought they knew better, including many Politicians, both here in OZ and in other countries around the world who did not act, they did not mitigate the risks.

We now find that those optimists who thought they knew better, should have been REALISTS and should have taken actions to mitigate against the worst outcomes.

In fact, I refer to these people as living on "hopium", because they hoped what is now happening wouldn't happen at all, but if something were to happen, they would try to kick the can a little further down the road, so the worst events would happen on their watch.

Well, it was always going to happen on someones watch, as we are now in the process of finding out!

That said, it should be noted that the current round of Global Debt is but an effect, it is not one of the basic causes of what is driving the Global Economy & Boomer Demographics is not the only negative that is pushing the Global Economy towards a very deep & lengthy Global Economic Downturn!     

Back to top
 
 
IP Logged
 
Pages: 1 ... 46 47 48 49 50 ... 117
Send Topic Print