Since 1990, the poverty rate in Brazil has halved, declining on average by 1.2% a year. This year Brazil’s economy is forecast to grow by 3.6%. Brazil is on track to overtake Britain to become the sixth largest economy in the world. With a GDP per person, at around $11,000, Brazilhas been growing at anContinue reading “Brazil the World’s 6th Largest Economy”
Japan continues intervening in FX market. “intervened to curb speculative moves against Yen strength; acted in line with G20 and did not intend to distort markets.” – Jun Azumi, Japanese Finance Minister.
It appears the EFSF deal has been reached. As expected, it will be 1.4 trillion, by using 400-500% leverage on cash. Write down on Greek debt will be 50% (really 29%). Italy pledges to cut debt gdp ratio to 113% by 2013. The TARP, Euro banks will be funded with 30 billion for recapitalization. DowContinue reading “EFSF: “A deal has been reached.””
U.S. 30-year Treasury bonds resumed their earlier losses today. Falling as much as 1-5/32 in price. Its yield hit 3.19%, up from 3.14% on Tuesday.
“A survival of primitive barbarism, and dates from a time when the appeal of this nice bright metal to human vanity made it in universal demand for the adornment of the chief… his wife, the temples of the gods and so on” – Hartley Withers @ UK think-tank Chatham House in 1934.
Debt levels in a number of economies of the European Union (GIIPS) continue to alarm the global markets—requiring European Union intervention to avert default. As concerns about fiscal sustainability and the oncoming financial turbulence approach, the Republic of Cyprus has announced that it has broken ground on its natural gas reserves. Large tracts of liquefiedContinue reading “The “Aphrodite” LNG”
The European Commission will lead negotiations on behalf of a EU proposed pipeline, which is part of a planned effort with Azerbaijan and Turkmenistan to bring natural gas from the world’s fourth-largest reserves across the Caspian Sea to Europe. The deal is designed to reduce EU dependence on Russian gas imports.
US sovereign credit rating has been downgraded and businesses are adapting to a volatile and lower growth marketplace. Americans are cutting spending and saving like never before. The risk is now led by political leaders who are unable to recognize that sovereign debt still exists and is CONTAGIOUS! Oncoming US elections have furthered uncertainty aboutContinue reading “Elected officials need to address uncertainty not add to it…”
One day we’ll tell our grandkids how awesome everything was before the governments decided to bailout the banks and bankrupted themselves.
Its official greece is in selective default. If you’re a holder of Greek bonds right now, (sucks to be u) maturities will be extended, but you have three choices. One: You can do nothing, and hope that Greece pays you in full and on time. two: Extend your maturities out to 30 years, and acceptContinue reading “It’s official in 2041 Greece will be underwater, right alongside Atlantis.”