Daily Link Dumps - Dec 10
Pimco's Bill Gross: No Fed interest rate hike before 2011
Greece wont be allowed to default its debt : Soros
Obama lays out strategy for Job creation
The dollar has shifted from being almost the sole “reserve currency” of many countries to being the primary “investment currency” : Martin Feldstein
U.S. Extends TARP Until October 2010
Era of meanness, greed drawing to end: GE's Immelt
Paul Volcker's 'telling' words on derivatives industry: "little evidence innovation in financial markets has had a visible effect on the productivities of the economy".
Jim Rogers Bets on Dollar rebound in short term
Over the past couple of months I have been accumulating U.S. dollars ... because there are too many bears," Rogers told the Reuters Investment 2010 Outlook Summit in New York.
Daily Link Dumps - Dec 09
John Paulson is buying stocks
Greece's public debt is so high that the country could default
Why China’s exchange rate policy is a concern
UK in Worse Shape than US
Japan's GDP revised to 1.3 percent, against 4.8 percent reported last month
Tighter visa rules for UK-bound Indian IT workers
Weekend Reading
Nouriel Roubini's new website : roubini.com
Paul Krugman : Double Dip warning
The repercussions of Dubai : The Economist
Britain faces decades of rising public sector debt
Andy Xie : China bubble will eventually burst
Former Morgan Stanley star chief Asia-Pacific economist Andy Xie interviewed by FT
Daily Link Dumps - Dec 01
Pressure on Renminbi
List of systemic risk Institutions by FSB
The declining dollar is an ever increasing risk
Krugman for more stimulus
Dubai: A City Built on Sand
After Dubai, Trying to Predict the Next Blowup
The Reappointment Of Bernanke Is Too Much To Bear for Nassim Taleb
Top 100 Global Thinkers - Foriegn Policy
Niall Ferguson : How Economic weakness is endangering US
Well known Historian Niall ferguson explains how the fiscal troubles America faces could end its status as Super power
if the United States succumbs to a fiscal crisis, as an increasing
number of economic experts fear it may, then the entire balance of global economic power could shift. Military experts talk as if the president's decision about whether to send an additional 40,000 troops to Afghanistan is a make-or-break moment. In reality, his indecision about the deficit could matter much more for the country's long-term national security. Call the United States what you like—superpower, hegemon, or empire—but its ability to manage its finances is closely tied to its ability to remain the predominant global military power
IEA forecasts that OECD demand has peaked
Global energy use is set to fall in 2009 - for the first time since 1981 on any significant scale - as a result of the financial and economic crisis, but demand is set to resume its long-term upward trend once the economic recovery gathers pace. By 2030, the Reference Scenario, which assumes no change in government policies, sees world primary energy demand a dramatic 40% higher than in 2007.
Complete World Energy Outlook 2009
Weekend Reading
Chinese Banks In The Tank,How long can China keep rolling over bad debt?
The $9 billion check that saved Morgan stanleyThe carry trade risks are real
Can the Euro Zone Survive Economic Recovery?
Sri Lanka buys 10 tonnes more gold from IMF
Tim Geithner has been wrong about just about everything for 15 years : Jim Rogers
Stephen Roach on Chinese Economic Outlook
Morgan Stanley's Stephen Roach discusses the Chinese economic outlook
Thoughts from George Soros
Soros says China should be a part of the new financial order , Dollar is likely to lose status
Joseph Stiglitz "Market Is Irrationally Exuberant"
Former chairman of the Council of Economic Advisors and Noble Laureate Joseph Stiglitz, calls the current market condition as a period of "Irrational Exuberance."
His thoughts :
His thoughts :
Martin Feldstein : Double Dip recession a real danger
Martin Feldstein , professor at Harvard University and the former head of the Council of Economic Advisors under President Ronald Reagan discusses the threat of a Double dip recession and “the real disaster” looming in commercial real estate
Worth Reading
US Debt Crisis May Cause 'Fall of Rome' Scenario
US Government Spends Stimulus Money Faster Than Expected
Bank of England calls 'crisis' meeting for economists
The real effects of bank bailouts: Evidence from Japan
US Government Spends Stimulus Money Faster Than Expected
Bank of England calls 'crisis' meeting for economists
The real effects of bank bailouts: Evidence from Japan
Worth Reading
Nobel Winner Krugman Says ‘End of World Postponed
HSBC : End of Dollar Dominance
IMF to Sell over 403 Tons of Gold
Fed not acting like there’s a recovery
Healthy Banks to Lend to the F.D.I.C
G-20 Push on Banks Threatens Profits From Goldman to Barclays
Jobless figures show demise of the slump may be exaggerated
HSBC : End of Dollar Dominance
IMF to Sell over 403 Tons of Gold
Fed not acting like there’s a recovery
Healthy Banks to Lend to the F.D.I.C
G-20 Push on Banks Threatens Profits From Goldman to Barclays
Jobless figures show demise of the slump may be exaggerated
Nassim Taleb on the economy
On anniversary of Lehman collapse, author of The Black Swan one of the very few who foresaw the crisis can say 'I told you so'.
Nassim Nicholas Taleb is one of those people who can say, “I told you so.” For the past decade, he's been warning that the global economy has become far more vulnerable to unpredictable events that can cause vast disruption. He famously foresaw the credit crunch that brought the financial system to its knees.
He says the Economy still has the same disease ,His thoughts on Economy
Worth Reading
Bernanke : Recession is over
US Credit shrinking at Great Depression rate
Trade War Brewing Between US & China
US Economy Faces Big Test Next Month: Meredith Whitney
US Credit shrinking at Great Depression rate
Trade War Brewing Between US & China
US Economy Faces Big Test Next Month: Meredith Whitney
European Recovery Unlikely to Sustain
The European Commission today forecast that Europe would return to positive growth by the end of the year but that the recovery might not be sustainable in 2010.
European Commission warns that for next year uncertainty is rife. "There are reasons to believe that the recovery could prove volatile and sub-par," it said, adding the full effect of the economic crisis on labour markets and public finances was still to be faced.
Full Story
Worth Reading
Nobel Laureate Joseph Stiglitz "Banking Problems Are Now Bigger Than Pre-Lehman with the too-big-to-fail banks having become even bigger"
Not just Lehman Brothers 10 more banks should have failed, for the financial system to clean itself up : Jim Rogers
The Man nobody wanted to hear, Global Banking Economist who predicted the crisis
The Hard Truth About Financial Regulation
Greenspan: Gold Rally Signals a Move Away from Paper Currencies
Not just Lehman Brothers 10 more banks should have failed, for the financial system to clean itself up : Jim Rogers
The Man nobody wanted to hear, Global Banking Economist who predicted the crisis
The Hard Truth About Financial Regulation
Greenspan: Gold Rally Signals a Move Away from Paper Currencies
A vigorous Economic recovery in US, says ECRI
The Economic Cycle Research Institute, a New York-based independent forecasting group expects a vigorous recovery in US economy against that of moderate recovery expected by general consensus.
Full article from reuters
Full article from reuters
The Last days Of Lehman : BBC Documentary
BBC Documentary Depicting the Events during the last few days before the Collapse of Iconic Wall street Giant Lehman Brothers.
United Nations Calls for New Reserve Currency
Following the BRIC nations China, India, Brazil and Russia , the UN has now raised its call for creation of a global reserve bank to issue a new reserve currency replacing the dollar.
(Bloomberg) -- The dollar’s role in international trade should be reduced by establishing a new currency to protect emerging markets from the “confidence game” of financial speculation, the United Nations said.
Full Article
Obama repeating the mistakes of "Great Depression"
According to a new study endorsed by Nobel laureate James Buchanan, the Obama administration and US Policy makers are repeating the mistakes made by President Roosevelt During the 1930's that pushed US into a serious depression that lasted over a span of 10 years.
The reports say employing deficit spending and increased state intervention President Obama will ultimately hamper the long-term growth potential of the US economy and may risk delaying full economic recovery by several years.
Read the Full Story here
The reports say employing deficit spending and increased state intervention President Obama will ultimately hamper the long-term growth potential of the US economy and may risk delaying full economic recovery by several years.
Read the Full Story here
Nifty, Sensex Scale new 52 week Highs
On the back of positive Global cues and reduced fears over the effects of Drought, Indian Market continued its 6 month rally to scale new 52 week highs in the bourses.
The broader Indices have clocked in more than 100% gains since the Bottom made in early March 2009, Mid caps have joined the party and are surging to new highs. The mood in the markets is positive with expectations of markets to reach 5000 levels in coming sessions.
However RBI has raised concerns over inflation , according to RBI governor Inflation is becoming a concern sooner than expected. Food inflation is becoming a serious worry with the country facing a drought situation. Nomura Securities expects Inflation to hit 6.5% by march 2010.
Finance Minister Pranab Mukerji on his return from the G20 Meeting in London has said Indian growth is likely to decelerate on the back of continued fall in exports.
The broader Indices have clocked in more than 100% gains since the Bottom made in early March 2009, Mid caps have joined the party and are surging to new highs. The mood in the markets is positive with expectations of markets to reach 5000 levels in coming sessions.
However RBI has raised concerns over inflation , according to RBI governor Inflation is becoming a concern sooner than expected. Food inflation is becoming a serious worry with the country facing a drought situation. Nomura Securities expects Inflation to hit 6.5% by march 2010.
Finance Minister Pranab Mukerji on his return from the G20 Meeting in London has said Indian growth is likely to decelerate on the back of continued fall in exports.
China alarmed by US money printing
China is beginning to show distress over US credit easing , According to Cheng Siwei a top member of the communist regime in china . He sees a risk of serious decline in Dollar over next few years that may offset a change in China's Foreign reserve policy
"(telegraph.co.uk) -- We hope there will be a change in monetary policy as soon as they have positive growth again," Siwei said at the Ambrosetti Workshop, a policy gathering on Lake Como.
"If they keep printing money to buy bonds it will lead to inflation, and after a year or two the dollar will fall hard. Most of our foreign reserves are in US bonds and this is very difficult to change, so we will diversify incremental reserves into euros, yen, and other currencies," he said.
Full Article
IMF predicts Slow Growth Recovery
International Monetary Fund has revised upwards it growth Forecast for 2010 to 2.9% against earlier forecast of 2.5% according to reports.
Earlier World Bank President Pointed out that India , China along with other Developing Economies will play crucial role in the Economic recovery
Earlier World Bank President Pointed out that India , China along with other Developing Economies will play crucial role in the Economic recovery
Worst of slump ahead of us, says this Economist
Ann Pettifor is a member of a select club — the seers who saw it all coming. Now the economist, who predicted the credit crunch as far back as 2003, believes that the worst is yet to come unless there is radical reform of the financial system.
Six years ago she parodied the International Monetary Fund’s annual economic forecast with her own — The Real World Economic Outlook. Then, in 2006, her book The Coming First World Debt Crisis, warned that rich countries were heading for a debt crisis that would overshadow anything seen in the developing world. Both were ridiculed.
US Unemployment rate at 26 year high of 9.7%
(Bloomberg) -- The pace of U.S. job losses slowed in August as signs emerged that the recession is ending, while the unemployment rate reached a 26-year high, underscoring threats to consumer spending gains in the recovery.
Employers cut 216,000 from payrolls, fewer than forecast, after a 276,000 drop in July that was larger than previously reported, Labor Department data showed today in Washington. The jobless rate jumped to 9.7 percent from 9.4 percent.
Full story
Employers cut 216,000 from payrolls, fewer than forecast, after a 276,000 drop in July that was larger than previously reported, Labor Department data showed today in Washington. The jobless rate jumped to 9.7 percent from 9.4 percent.
Full story
US Commercial Mortgage : The Next Crisis ?
A commercial mortgage is similar to a residential mortgage, except the collateral is a commercial building or other business real estate. A wave of commercial mortgage delinquencies looms as a potential threat to recovery
FDIC Chairman Sheila Bair in an interview said that commercial mortgages may run more banks out of business this year and next. Bair also said commercial real-estate loans were "catching up" with residential mortgages as a threat to banks' balance sheets. "Commercial real estate is a looming problem.
It's going to be a bigger driver of bank failures toward the end of this year and into next year," she said. So far this year, 84 U.S. banks have failed
Economic Data Watch - 1.9.09
UK Manufacturing Purchasing Managers’ Index slips to 49.7 in August, Sparking Fears on the sustainability of the recent economic recovery,
The jobless rate in the 16 nations that use the euro climbed to a new 10-year high of 9.5 percent in July despite other signs that the economy is starting to recover, Full Story
US ISM index of national factory activity rose to 52.9 in August from 48.9 in July, A reading above 50 indicates expansion in the manufacturing sector.Full Story
The jobless rate in the 16 nations that use the euro climbed to a new 10-year high of 9.5 percent in July despite other signs that the economy is starting to recover, Full Story
US ISM index of national factory activity rose to 52.9 in August from 48.9 in July, A reading above 50 indicates expansion in the manufacturing sector.Full Story
Macro Hedge Funds betting against US recovery
Paul Tudor Jones a Famed trader, billionaire hedge-fund manager who outperformed peers last year, is wagering that Goldman Sachs Group Inc. and Morgan Stanley got it wrong in declaring the start of an economic recovery in US.
Bloomberg : Jones’s Tudor Investment Corp., Clarium Capital Management LLC and Horseman Capital Management Ltd. are taking a bearish stand as U.S. stock and bond prices rise, saying that record government spending may be forestalling another slowdown and market selloff. The firms oversee a combined $15 billion in so- called macro funds, which seek to profit from economic trends by trading stocks, bonds, currencies and commodities.
Full Article
Stiglitz : Days numbered for Dollars Dominance
Nobel Price winning Economist Joseph Stiglitz on the Enormous Fiscal Deficit staring at US and the Role of Dollar in coming years
From washingtonpost : Beware of deficit fetishism.Last week we learned that the national debt is likely to grow by more than $9 trillion. That's not great news -- no one likes a big deficit -- but President Obama inherited an economic mess from the Bush administration, and the cleanup comes with an inevitably high price tag. We're paying it now.
There are no easy options. When financial crises strike, economic growth declines and living standards drop, resulting in lower tax revenues and greater need for government assistance -- all of which leads to higher fiscal imbalances.
What really matters is not the size of the deficit but how we're spending our money. If we expand our debt in order to make high-return, productive investments, the economy can become stronger than if we slash expenditures.
Full Article
Elliot Wave Expert Warns Again that Rally is over
Robert Pretcher of Elliot wave International warns again that US stock market rally is done and turnaround is likely around the corner. He shares his highly bearish view on US stocks
Click here for the Audio Interview link.
Click here for the Audio Interview link.
China A Huge Bubble
Chinese Markets Tanked more than 6% in yesterdays Trade sending Jitters across Global Markets.Former chief investment strategist at Merrill Lynch Richard Bernstein says China’s economy is overheating and that investors should avoid its stock market.
“China is an immense credit bubble that's going on right now,” he tells CNBC.
“I would actually rather invest into the U.S. right now than invest in China." Chinese bank loans jumped 30 percent in the first half of the year.
"They have massive overcapacity and their solution to that problem was to build more capacity over that," says Bernstein, now CEO of Bernstein Capital Management.
He says that those who believe China’s economy will lead a global economic recovery are mistaken.
Jeremy Grantham , US Stocks overvalued by 15%
wsj.com: It feels good to be right. But the few analysts who accurately called the market’s bottom in early March aren’t feeling so great about where stocks are headed.
One of the most famous of this group, Jeremy Grantham, penned a note on March 10 entitled “Reinvesting When Terrified” that encouraged investors to buy, suggesting stocks were 30% undervalued.
Since then, the market has roared ahead, without stopping for a correction of 10% or more. Standard & Poor’s 500-share index ended last week at 1026.13, up nearly 52% from its 12½-year low on March 9 and its highest close since Oct. 6. The Dow Jones Industrial Average is at 9505.96, up 45% since its March low.
Now, the chairman of Boston asset-management firm GMO and his colleagues say the S&P 500 has zoomed right past what they consider fair value of about 880, based on earnings estimates and historical price-to-earnings ratios.
Mr. Grantham sees “seven lean years” of a sluggish market ahead, to atone for what the firm believes was a long era of overpriced stocks, according to his newsletter.
Bernanke to be nominated as Fed chief for 2nd term
reuters.com
U.S. President Barack Obama will nominate Ben Bernanke to a second term as chairman of the Federal Reserve on Tuesday as the economy shows signs of recovery, a senior administration official said on Monday. Bernanke, whose appointment as head of the U.S. central bank must be confirmed by the Senate, has led the Fed and the U.S. economy through its most tumultuous period since the Great Depression of the 1930s. Obama's Democrats control the Senate.
Full Article
U.S. President Barack Obama will nominate Ben Bernanke to a second term as chairman of the Federal Reserve on Tuesday as the economy shows signs of recovery, a senior administration official said on Monday. Bernanke, whose appointment as head of the U.S. central bank must be confirmed by the Senate, has led the Fed and the U.S. economy through its most tumultuous period since the Great Depression of the 1930s. Obama's Democrats control the Senate.
Full Article
Roubini warns of a Double dip recession
ft.com
T he global economy is starting to bottom out from the worst recession and financial crisis since the Great Depression. In the fourth quarter of 2008 and first quarter of 2009 the rate at which most advanced economies were contracting was similar to the gross domestic product free-fall in the early stage of the Depression. Then, late last year, policymakers who had been behind the curve finally started to use most of the weapons in their arsenal. When will the global recession be over? What will be the shape of the economic recovery? Are there risks of a relapse?
Full article
T he global economy is starting to bottom out from the worst recession and financial crisis since the Great Depression. In the fourth quarter of 2008 and first quarter of 2009 the rate at which most advanced economies were contracting was similar to the gross domestic product free-fall in the early stage of the Depression. Then, late last year, policymakers who had been behind the curve finally started to use most of the weapons in their arsenal. When will the global recession be over? What will be the shape of the economic recovery? Are there risks of a relapse?
Full article
News Today - Aug 19
* Asian stock markets trade mixed, with Japanese and Hong Kong shares lower, weighed partly by banks and airline stocks.
* Hewlett-Packard's quarterly earnings fall as sales of PCs, printers and software all decline in the recession, though the results manage to beat Wall Street's low outlook.
* Wholesale prices in the U.S. fell more than forecast in July as energy costs receded, capping the biggest 12-month drop on record and showing inflation will not be an immediate concern for Federal Reserve policy makers.
* The U.K. inflation rate unexpectedly held at 1.8 percent in July as the cost of computer games, DVDs and alcohol rose, a sign the economy is staving off deflation as the recession eases.
* US Stock Rally Has Hit a Wall: Bond market Giant Pimco's El-Erian
* Hewlett-Packard's quarterly earnings fall as sales of PCs, printers and software all decline in the recession, though the results manage to beat Wall Street's low outlook.
* Wholesale prices in the U.S. fell more than forecast in July as energy costs receded, capping the biggest 12-month drop on record and showing inflation will not be an immediate concern for Federal Reserve policy makers.
* The U.K. inflation rate unexpectedly held at 1.8 percent in July as the cost of computer games, DVDs and alcohol rose, a sign the economy is staving off deflation as the recession eases.
* US Stock Rally Has Hit a Wall: Bond market Giant Pimco's El-Erian
News Today - Aug 18
* U.S. stocks and commodities sell off, rekindling familiar fears that market is leading indicator.
* Crude futures follow stocks lower as tumbling stocks pressure futures to a more than 2% fall, Gold slides about 1.5%
* Japan’s 3.7 percent economic expansion last quarter ended the country’s worst postwar recession.
*German investor confidence probably rose to the highest level in more than three years in August after Europe’s largest economy unexpectedly emerged from recession in the second quarter, a survey of economists shows.
* This Economic Recovery Is On Such Shaky Ground
* Crude futures follow stocks lower as tumbling stocks pressure futures to a more than 2% fall, Gold slides about 1.5%
* Japan’s 3.7 percent economic expansion last quarter ended the country’s worst postwar recession.
*German investor confidence probably rose to the highest level in more than three years in August after Europe’s largest economy unexpectedly emerged from recession in the second quarter, a survey of economists shows.
* This Economic Recovery Is On Such Shaky Ground
News Links - Aug 17
Sensex takes 626-pt blow on China meltdown
Shanghai index tanks 5.8% in Monday trading.
Bears prowl Wall St as insiders dump stock
10 Reasons To Be a Bear Right Now
Gerald Celente: The 2nd American Revolution
'Bill,' First Hurricane of 2009 Season, Seen Strengthening :U.S. National Hurricane Center
New York Area Manufacturing Grows First Time Since 2008 as Recession Wanes
Fed Extends TALF Program Through June 2010 to Support Commercial Property
Shanghai index tanks 5.8% in Monday trading.
Bears prowl Wall St as insiders dump stock
10 Reasons To Be a Bear Right Now
Gerald Celente: The 2nd American Revolution
'Bill,' First Hurricane of 2009 Season, Seen Strengthening :U.S. National Hurricane Center
New York Area Manufacturing Grows First Time Since 2008 as Recession Wanes
Fed Extends TALF Program Through June 2010 to Support Commercial Property
News Links - Aug 14
S&P's increases growth forecast to 6.3%
New record set in U.S. foreclosures
Blackstone's Schwarzman is the Best-Paid U.S. Executive, Tops with $702 Million
Tim Geithner: No evidence of Street reverting to old ways
India Inc upbeat on hiring, hikes
Agri situation disturbing: RBI Governor Subbarao
Citigroup is still sitting on top of a mountain of toxic assets
‘The World Is in Trouble’: Deutsche Bank Chief Economist
New record set in U.S. foreclosures
Blackstone's Schwarzman is the Best-Paid U.S. Executive, Tops with $702 Million
Tim Geithner: No evidence of Street reverting to old ways
India Inc upbeat on hiring, hikes
Agri situation disturbing: RBI Governor Subbarao
Citigroup is still sitting on top of a mountain of toxic assets
‘The World Is in Trouble’: Deutsche Bank Chief Economist
Krugman's suggestion on how to track this global financial crisis
Nobel laureate Paul Krugman offers ways the public can look for signs of recovery
News Today - Aug 14
* A good lead from the U.S. and rising commodities prices help extend Asian stock gains, while official comments boost Australian shares.
* Sales at U.S. retailers unexpectedly fell in July, raising the risk that consumers will keep cutting back as job losses mount and temper a recovery from the worst recession since the 1930s.
* Hong Kong probably emerged from its worst recession since at least 1990 in the second quarter as a recovery in mainland China bolstered exports
* Billionaire Li Ka-shing, who predicted China’s stock-market bubble would burst in 2007, said the global economy won’t recover this year and told investors to be “cautious” about buying shares, especially with borrowed money.
* Dollar Will Rise and Punish Stocks: Marc Faber
* Six of world's top 10 economies out of crisis
* Drought almost certain now, admits Indian Met dept
* Sales at U.S. retailers unexpectedly fell in July, raising the risk that consumers will keep cutting back as job losses mount and temper a recovery from the worst recession since the 1930s.
* Hong Kong probably emerged from its worst recession since at least 1990 in the second quarter as a recovery in mainland China bolstered exports
* Billionaire Li Ka-shing, who predicted China’s stock-market bubble would burst in 2007, said the global economy won’t recover this year and told investors to be “cautious” about buying shares, especially with borrowed money.
* Dollar Will Rise and Punish Stocks: Marc Faber
* Six of world's top 10 economies out of crisis
* Drought almost certain now, admits Indian Met dept
Elliott Wave International : Oil Will Crash To $10 A Barrel
Bloomberg:
“I expect crude oil prices to fall below $10 a barrel sometime over the next decade,” Prechter, founder of Elliott Wave International Inc., said in an e-mail yesterday. “It took many years for it to achieve $147.50, and it will take a long while for the full retreat to occur.” Oil should fall to between $4 and $10 a barrel based on a technical analysis called Elliott Wave principle, Prechter said in the Elliott Wave Theorist report last month. The forecast rests on a “supercycle” theory, which through a series of five waves from last century suggests a decline from last year’s peak.
Full article
“I expect crude oil prices to fall below $10 a barrel sometime over the next decade,” Prechter, founder of Elliott Wave International Inc., said in an e-mail yesterday. “It took many years for it to achieve $147.50, and it will take a long while for the full retreat to occur.” Oil should fall to between $4 and $10 a barrel based on a technical analysis called Elliott Wave principle, Prechter said in the Elliott Wave Theorist report last month. The forecast rests on a “supercycle” theory, which through a series of five waves from last century suggests a decline from last year’s peak.
Full article
News Links - Aug 13
German, French Economies Unexpectedly Grow Over Quarter, Ending Recession
Is US dollar weakness overdone?
Economists Call for Bernanke to Stay
ISRO launches desi version of Google Earth
Indian Monsoon rains fall 56 pc short, situation grim
Robert Prechter of Elliott Wave International , “Quite Sure” Next Wave Down Will Be Bigger and US markets March Lows Will Break
Deflation is the economy's swine flu; printing money is its Tamiflu.'
RBS uber-bear issues fresh alert on global stock markets
Is US dollar weakness overdone?
Economists Call for Bernanke to Stay
ISRO launches desi version of Google Earth
Indian Monsoon rains fall 56 pc short, situation grim
Robert Prechter of Elliott Wave International , “Quite Sure” Next Wave Down Will Be Bigger and US markets March Lows Will Break
Deflation is the economy's swine flu; printing money is its Tamiflu.'
RBS uber-bear issues fresh alert on global stock markets
Marc Faber vs Nouriel Roubini
Its Dr.Doom vs Dr.Doom, the 2 famous bears share their views on state of the Economy
News Today - Aug 13
* Fed-inspired rally in U.S. gives a bounce to regional markets, with Japanese exporters up, but Telstra down in Sydney after results.
* We haven't seen the last of the crisis despite all talk about green shoots, and the surge in markets was caused by nothing more than the excess liquidity coming from central banks, Marc Faber, author of the Gloom, Boom and Doom Report, told CNBC Friday. Full story
* Fed Extends Bond Purchases But Not the Amount, Read the Fed's Statement
* Shanghai markets extend losses after stocks fell 4.7% in yesterdays trade
* NHPC's IPO subscribed over 23 times
* Swine flu death toll hits 18 in india
* We haven't seen the last of the crisis despite all talk about green shoots, and the surge in markets was caused by nothing more than the excess liquidity coming from central banks, Marc Faber, author of the Gloom, Boom and Doom Report, told CNBC Friday. Full story
* Fed Extends Bond Purchases But Not the Amount, Read the Fed's Statement
* Shanghai markets extend losses after stocks fell 4.7% in yesterdays trade
* NHPC's IPO subscribed over 23 times
* Swine flu death toll hits 18 in india
News Links - Aug 12
Nouriel Roubini on which countries weathered the global downturn
Roubini: Risk of Double-Dip Recession Not Quite Past Yet
New Tax code proposal, Pay 10% tax for salary up to Rs 10 lakhs
20,000 slots still vacant in H1B visas
U.S. Enters Recovery as Obama's Stimulus Overcomes Skeptics, Survey Shows
Should Russia be in 'BRICS' ?
China Bubble Version 2.0
Why Apple is more valuable than Google
Doug Kass publicly made a prescient bottom call for US markets in early March now he has turned bearish , Summary of his Bearishness
Roubini: Risk of Double-Dip Recession Not Quite Past Yet
New Tax code proposal, Pay 10% tax for salary up to Rs 10 lakhs
U.S. Enters Recovery as Obama's Stimulus Overcomes Skeptics, Survey Shows
Should Russia be in 'BRICS' ?
China Bubble Version 2.0
Why Apple is more valuable than Google
Doug Kass publicly made a prescient bottom call for US markets in early March now he has turned bearish , Summary of his Bearishness
India's industrial output up 7.8 pc y/y
economictimes.com
India's industrial output rose by a much faster-than-expected 7.8 percent in June from a year earlier, data showed on Wednesday riven by higher demand for consumer goods and increased mining activity. The infrastructure sector grew 6.5 percent from a year earlier, higher than an unrevised 2.8 percent in May. Exports fell an annual 27.7 percent in June to $12.8 billion, the ninth straight monthly fall. There are signs the expansion in activity continued in July, with car sales rising by a blistering 31 percent. full story
India's industrial output rose by a much faster-than-expected 7.8 percent in June from a year earlier, data showed on Wednesday riven by higher demand for consumer goods and increased mining activity. The infrastructure sector grew 6.5 percent from a year earlier, higher than an unrevised 2.8 percent in May. Exports fell an annual 27.7 percent in June to $12.8 billion, the ninth straight monthly fall. There are signs the expansion in activity continued in July, with car sales rising by a blistering 31 percent. full story
U.K. Unemployment Climbs to Highest Level in 14 Years
(Bloomberg) -- U.K. unemployment rose to the highest level in 14 years as companies continue to cut jobs even as the worst recession in at least a generation begins to ease. Full story
U.S. Economy Has Hit Bottom: George Soros
US economy has hit bottom and the current quarter will see positive growth due to the government's stimulus spending, billionaire financier George Soros said on Tuesday.
"I think it (the stimulus) has made a difference, the economy has actually bottomed and I think we are facing a positive quarter, and I think that is largely due to the stimulus," he said in an interview with Reuters Television in New York.
News Today - Aug 12
* A drop on Wall Street ahead of the Fed decision spreads across the ocean to Asia, with most major asian markets lower in early action.
* Japan’s economy grew last quarter for the first time in more than a year as rebounds in exports and consumer spending helped the country climb out of its worst postwar recession, the government is expected to say next week.
* India’s 7 percent economic growth target may be jeopardized as the weakest monsoon rains in five years threaten harvests, according to economists.
* Wholesale prices in Japan fall a record 8.5% in July from the year-earlier period, though the heavy drop still manages to beat forecasts.
* China's imports of oil and iron ore hit a record high in July, customs data showed Tuesday, as the nation's $586 billion stimulus plan continues to push up demand for commodities.
* Japan’s economy grew last quarter for the first time in more than a year as rebounds in exports and consumer spending helped the country climb out of its worst postwar recession, the government is expected to say next week.
* India’s 7 percent economic growth target may be jeopardized as the weakest monsoon rains in five years threaten harvests, according to economists.
* Wholesale prices in Japan fall a record 8.5% in July from the year-earlier period, though the heavy drop still manages to beat forecasts.
* China's imports of oil and iron ore hit a record high in July, customs data showed Tuesday, as the nation's $586 billion stimulus plan continues to push up demand for commodities.
Russia GDP Shrank 10.9% Last Quarter
Bloomberg.com
Russia’s economy contracted the most on record last quarter as rising unemployment sapped consumer demand, bank lending stalled and the government failed to approve a stimulus package until just two months ago. Gross domestic product contracted an annual 10.9 percent in the second quarter, the Federal Statistics Service said today, citing preliminary data
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Russia’s economy contracted the most on record last quarter as rising unemployment sapped consumer demand, bank lending stalled and the government failed to approve a stimulus package until just two months ago. Gross domestic product contracted an annual 10.9 percent in the second quarter, the Federal Statistics Service said today, citing preliminary data
Full article
China’s economy cools as lending slows
Ft.com
China’s surging economy slowed slightly in July as state-controlled banks heeded Beijing’s instructions to rein in excessive lending, with the volume of new lending dropping 77 per cent from a month earlier.
Most economic indicators however suggested a continuing strong recovery, largely as a result of government investment and state-directed lending that saw new loans nearly triple in the first seven months from the same period last year.
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China’s surging economy slowed slightly in July as state-controlled banks heeded Beijing’s instructions to rein in excessive lending, with the volume of new lending dropping 77 per cent from a month earlier.
Most economic indicators however suggested a continuing strong recovery, largely as a result of government investment and state-directed lending that saw new loans nearly triple in the first seven months from the same period last year.
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News Links - Aug 11
Fed Nervous about Early recovery call
Are information technology's glory days gone?
Corporate earnings are no sign of recovery
The next meltdown will come in 2012
U.S. productivity rises 6.4%, fastest in 6 years
U.K. Data Show Hope Of Recovery
wsj.com
U.K. retail sales rose in July and sentiment in the housing market reached its highest level in almost two years, providing further indications that the economy is on the mend.
U.K. retail sales rose in July and sentiment in the housing market reached its highest level in almost two years, providing further indications that the economy is on the mend.
The figures are consistent with a string of recent data releases that suggest the economy may grow this quarter, and come ahead of the release on Wednesday of new economic forecasts by the Bank of England.
Baltic Dry Index has worst week since October meltdown
telegraph.co.uk
The Baltic Dry Index, which tracks shipping costs and is viewed as leading indicator for commodity prices, has had its worst week since the peak of the financial crisis last October, as Chinese demand slowed. The index fell from 3,350 to 2,772 this week – a fall of 17.2pc - as imports of iron ore and coal slowed down. The index is now 35pc lower than its 2009 high, hit on June 3.
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The Baltic Dry Index, which tracks shipping costs and is viewed as leading indicator for commodity prices, has had its worst week since the peak of the financial crisis last October, as Chinese demand slowed. The index fell from 3,350 to 2,772 this week – a fall of 17.2pc - as imports of iron ore and coal slowed down. The index is now 35pc lower than its 2009 high, hit on June 3.
Read full article
News Today - Aug 11
* The Bank of Japan unanimously votes to leave its policy interest rate and cautiously optimistic outlook unchanged, but offers anxious note over deflation.
* China reported below-forecast growth in factory output and investment on Tuesday, underlining why senior officials keep reminding markets that recovery in the world's third-largest economy is not yet on solid ground.
* China’s exports fell for a ninth month on weak global demand, reinforcing the government’s case for sticking with a “moderately loose” monetary policy to fuel domestic growth.
* Singapore’s economy expanded more than initially estimated last quarter as manufacturing and services improved, reinforcing the nation’s emergence from its worst recession since independence 44 years ago.
* CMIE revises india's GDP growth to 5.8%
*Swine flu scare spreading fast in India
* China reported below-forecast growth in factory output and investment on Tuesday, underlining why senior officials keep reminding markets that recovery in the world's third-largest economy is not yet on solid ground.
* China’s exports fell for a ninth month on weak global demand, reinforcing the government’s case for sticking with a “moderately loose” monetary policy to fuel domestic growth.
* Singapore’s economy expanded more than initially estimated last quarter as manufacturing and services improved, reinforcing the nation’s emergence from its worst recession since independence 44 years ago.
* CMIE revises india's GDP growth to 5.8%
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