Tag Archives: crisis

GEE WIZ! THE EURO CRISIS IS NOT OVER? WHO’D HAVE GUESSED?

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The Euro has plummeted dropping to 12900 zone. Our Daily Bearish on the spot lies at 12940. Portugal interest rates have jumped to 8% and will move higher.Austria has closed 25% of all the branches of their bank in crisis, and we are waiting for the first crack in German banks. The EU Commission is waiting for the German Elections and will thereafter begin to look at issuing Euro-Bills to cover debts for the Union. But this is likely to be too little too late. Portugal is at great risk of just being forced into outright default and may be unable to wait for the German elections.

Read more: http://tinyurl.com/k25yp5m

IMF chief says financial crisis has eased

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WASHINGTON –The head of the International Monetary Fund said Thursday that the global financial crisis has eased substantially but countries must do more to promote growth and alleviate rampant unemployment.

“We believe we have avoided the worst, and the economic world no longer looks quite as dangerous as it is did,” IMF managing director Christine Lagarde said at the the spring meeting of the IMF and the World Bank here.

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U.S. is already broke

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In Tuesday’s Financial Times, well-known columnist Martin Wolf argues that “America’s fiscal policy is not in crisis.” “The federal government,” he writes,“is not on the verge of bankruptcy.” “This,” Wolf admits, “is a highly controversial statement.”

Indeed, many analysts believe that the U.S. federal government is bankrupt. They include, among others, economists Jeffrey Hummel of San Jose State University and Laurence Kotlikoff of Boston University. As early as 2006, Kotlikoff wrote an article in the journal of the Federal Reserve Bank of St. Louis, asking the question “Is the United States Bankrupt,” to which he answered affirmatively.

Read more: http://tinyurl.com/aonzcjy

 

China’s Coming Energy Crisis

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China is now the world’s largest energy producer, generating 90 percent of energy it consumes. But a white paper released by China’s State Council, which outlines the country’s energy development plans, acknowledges key issues that need to be resolved.

Last year, China’s primary energy production reached 3.18 billion tons of coal, ranking first worldwide. Raw coal reached 3.52 billion tons, crude oil, 200 million tons; and refined oil products, 270 million tons.

Read more:  http://tinyurl.com/aggmlm2