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The Stock Market Is Looking Like 2000 And 2007 All Over Again “I have to get into this market; otherwise it’s just dragging on me” (A portfolio manager quoted in the Wall Street Journal just prior to the March 2000 peak in the S&P 500.) “..as long as the music is playing, you’ve got to get up and dance. We’re still dancing.” (Citigroup CEO Chuck Prince in July 2007) You know how that turned out. It’s that [...] by Matthew Boesler The eurozone is on a path into a deep recession. As one of the largest and most advanced economies in the world, its centrality to a system of highly-interconnected global supply chains is taken for granted. David Korowicz, a physicist and human-systems ecologist, recently authored a lengthy 78-page white paper titled: “Trade-Off: Financial System Supply-Chain Cross-Contagion: a study in global systemic collapse.” It explores the increasing systemic risk brewing in the global financial [...] By Reuters Spain is likely to pay record high rates to borrow at debt auctions this week after the Greek election failed to ease concerns about the future of the euro zone and amid uncertainty over whether Madrid will need a full sovereign bailout. The yield on Spanish 10-year bonds hit a fresh high of above 7 percent on Monday, jumping by as much as 37 basis points, as initial relief over [...] by Alexandros Liakopoulos the banksters hijack on European economy meets its very well planned “next step”, the Spanish invasion. The Greek drama comes to an end, after quite two years of planned-to-be-out-of-any-sense measures that got the Greek banking sector along with Greek national debt out of any chance to find a solution, killing the market and destroying the national economy, while transferring “power” and “sovereignty” from the Greek national political level [...] Jeff Nielson: Nearly two and a half years ago, I first began warning readers of the “economic terrorism”which Wall Street had unleashed upon Europe – via the fraudulent manipulation of credit default swaps, and equally fraudulent “ratings cuts” from their accomplices, the ratings agencies. At a time when only Greece had begun to experience financial turmoil, I wrote: …It will be even more interesting to see what happens next. If the CDS [credit [...] Dominique de Kevelioc de Bailleul: In his most serious demeanor of recent memory, Jim Rogers of Roger Holdings said the U.S. economy is in for a very rough sledding akin to other major crises since the beginning of the republic. In fact, the 69-year-old veteran of the commodities markets said even he is “worried.” When asked by Newsmax’s Kathleen Walter about the state of the U.S. economy, Rogers said he’s not particularly concerned about 2012; [...] Dominique de Kevelioc de Bailleul: In his most serious demeanor of recent memory, Jim Rogers of Roger Holdings said the U.S. economy is in for a very rough sledding akin to other major crises since the beginning of the republic. In fact, the 69-year-old veteran of the commodities markets said even he is “worried.” When asked by Newsmax’s Kathleen Walter about the state of the U.S. economy, Rogers said he’s not particularly concerned about 2012; [...] via CNBC: Amid all the challenges facing the markets — Greece, Facebook, JPMorgan — investors face an even larger potential problem: They soon could be running out of traditional safe havens for their money. Much has been made recently of how gold no longer offers its traditional buffer against financial turmoil, with the yellow metal in a sharp pullback since early March. But some strategists are beginning to worry that other places where investors are [...] Bruno Waterfield Karel De Gucht, the EU’s Belgian trade commissioner, has told the De Standaard newspaper that the European Commission and the European Central Bank are confident the euro can weather the storm. ”A year and a half ago there may have been the danger of a domino effect,” he said. ”But today there are, both within the European Central Bank and the European Commission, services that are working on emergency scenarios in case [...] Raising the spectre of a Greek exit, the German chancellor said “solidarity for the euro” was threatened by the ongoing political crisis in Athens. Stock markets around the world fell sharply with fears mounting that a euro break-up could lead to renewed financial turmoil. The FTSE-100 index of Britain’s major companies fell by two per cent to 5465, with bank shares hit particularly hard. The cost of Spanish government borrowing also hit [...] Simon Kennedy The 17-nation euro area is on the verge of losing one of its members, with more than 50 percent of investors predicting an exit this year as Greece’s election impasse threatens to push the debt crisis to new depths, according to the Bloomberg Global Poll. As Greece faces political paralysis and voters balk at austerity, 57 percent of the 1,253 investors, analysts and traders who are Bloomberg subscribers said [...] Bloomberg Two Federal Reserve district bank presidents said the strengthening U.S. economy is reducing the need for additional monetary easing. “As the U.S. economy continues to rebound and repair,” additional steps “may create an overcommitment to ultra-easy monetary policy,” St. Louis Fed President James Bullard said in a speech yesterday in Hong Kong. Atlanta Fed President Dennis Lockhart said in Washington that “we should hold the balance sheet where it is for [...] By Hu Shuli and Ni Weifeng BEIJING ( Caixin Online ) — It would have been a brutal mistake to read a Chinese delegation’s light showing at the recent World Economic Forum as a sign that, in a world rattled by financial turmoil, China didn’t matter. In fact, the growing importance of China for an international community trying to navigate stormy financial waters was a common thread in discussions among economic [...] By Polya Lesova, MarketWatch DAVOS, Switzerland — Billionaire investor George Soros warned on Wednesday that the austerity Germany wants to impose on other euro-zone nations “will push Europe into a deflationary debt spiral.” Germans “have been traumatized by inflation and they don’t understand the threat that deflation can cause,” Soros told reporters at the annual meeting of the World Economic Forum in Davos. “There’s a shift in German thinking [...] NEW YORK (AP) – The killing of Osama bin Laden during a raid by Navy SEALs on his hideout in Pakistan was the top news story of 2011, followed by Japan’s earthquake/tsunami/meltdown disaster, according to The Associated Press’ annual poll of U.S. editors and news directors. The death of bin Laden, the al-Qaida leader who masterminded the Sept. 11 terror attacks, received 128 first-place votes out of 247 ballots cast for [...] http://hosted.ap.org/dynamic/stories/E/EU_ITALY_POLL?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2011-11-22-12-45-45 ROME (AP) — Few Italians are willing to make personal sacrifices – like retiring at age 67 instead of 65, or even earlier – though they believe cutting the country’s public debt is a top priority, according to an AP-GfK poll released Tuesday. And most Italians think the country should stay in the 17-nation eurozone even though the European Union is demanding such tough economic reforms. A full 93 percent of Italians [...] By Matthew Dalton BRUSSELS — The European Union Thursday slashed its growth forecast for the 27-nation bloc in the coming year and said it can’t exclude the possibility of a deep, prolonged recession. The European Commission, the EU’s executive arm, said in its semiannual forecast the economy is struggling with weak confidence, financial turmoil, government austerity packages and a slowdown in Europe’s main trading partners. It said [...] BRUSSELS (AP) — They were so close at one point that people started calling them “Merkozy” – but you can always count on money to break up a beautiful relationship. German Chancellor Angela Merkel and French President Nicolas Sarkozy still talk on the phone every day and meet plenty for dinner. But nowadays, as yet another summit of European leaders approaches Wednesday, they mostly just discuss the finances that divide them [...] By: CNBC.com While skeptics have largely doused the concerns, citing reasons from how the macro environment has changed since 2008 to the financial safeguards that governments have put in place, HSBC says the jury is still out, considering what it describes as the “striking” similarities in economic and market events that have taken place so far in Asia, compared to three years ago. “The first [...] Eurozone leaders are preparing a rescue plan to prevent the escalation of the financial turmoil threatening to send the global economy back into recession. It comes as the IMF has warned it may not be able to help out bigger European economies struggling to tackle their debt. With a Greek default now widely considered a matter of time, the priority is to prevent bigger [...] The US economy is going from bad to worse and will not fully recover until structural problems caused by the collapse of the housing market and the financial crisis are resolved, according to Capital Economics. Predicting growth rates of 1.5 percent in 2012 and 2.0 percent in 2013, Roger Bootle, the managing director of Capital Economics believes there is a risk of the US economy falling back into recession over the [...] The German constitutional court has just issued a ruling on the legality of Eurozone bailouts, where it upheld the country’s involvement in multi-billion rescue funds. The decision was anxiously anticipated by debt-ridden states highly dependent on the bailout packages. RT’s Daniel Bushell reports. From FT: The global crises of financial and housing markets are now being superseded by new crises of governments. The fiscal challenges for the weaker members of the eurozone are early warnings, as are analogous problems in American state governments weighed down by unfunded pension and healthcare liabilities. Without action, this new crisis of state competence could soon become just as damaging as its recent [...] By Pham-Duy Nguyen Silver prices may retreat as much as 20 percent this year as soaring demand for physical metal signals a “crowded†trade, said Barry James, the chief executive officer of James Investment Research Inc. Sales of 1-ounce American Eagle silver coins have totaled 4,588,000 in January, heading for a record, according to data from the U.S. Mint. Silver futures in New York rallied 84 percent last year, climbing to a [...] |
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