Yes, it’s all fine. nobody worry about anything Director Saccomanni (Bank of Italy).
Bonus Bucks for Friday, November 18 (the ones posted Thursday night). 1. On Wednesday, the Bank of England predicted that inflation would fall to what level in two year’s time? D. 1.3 percent 2. Despite the U.S. consumer confidence at recession levels, Smead Capital Management believes its time to buy shares of consumer discretionary stocks.Continue reading “CNBC Million Dollar Portfolio Contest Bonus Bucks for Friday, November 18”
Anglo American Plc has bought out the Oppenheimer family’s 40% ownership of De Beers for approx. $5.1bn in cash. Anglo, will now control just over 85% of De Beers has forecasted a rise in demand for diamonds in emerging countries… “We’re seeing in the first half of this year a tremendous increase in demand comingContinue reading “Anglo American Plc Buyout”
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.””
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The fiscal crisis in Greece is deepening, today she stands at a budget deficit of almost 13% of GDP. I fear that the longer Athens waits to adopt a credible solution to deal with the country’s economic troubles the worse it will get. The cost of Greek debt has already been blamed for the currency decline of the EuroContinue reading “Effort = f(volume, distance, friction)… The Fiscal Crisis in Greece.”