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ECB launches new bond purchase, with conditions. October 6th the governing board of the ECB resolved to buy covered bonds or (CBPP2). Early November, they decided on the the technical aspects for the covered bond buying programed. Direct Purchase Euro-denominated covered bonds in the euro area can be directly purchased on condition they are at [...]
Ireland, an aggressive budget cutting and draconian austerity policy country from the PIIGS (Portugal, Ireland, Italy, Greece, Spain), hasn’t stopped sliding. Their GDP went from 178 Billion Euros in 2007 to 160 Billion Euros in 2010. There are few good signs as net imports increased while domestic demand is projected to plummet. Not resolving the [...]
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Sub–Sahara Reagion, Africa IMF, projects economic growth for 2011 at 5.25% and 5.75% for 2012. Demand for domestic commodities and rising export demand will fuel much of the economic expansion in the next couple of years. Most of the sub-Sahara countries are characterized by low-income. Domestic demand has been growing with the increasing exports… with [...]
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SEOUL, South Korea — In an effort to resume free trade discussions, representative from South Korea and Japan found common ground increasing the amount of a currency-swap deal. While both countries are key allies to the U.S., South Koreans still resent Japan for its 35 year occupation from 1910 to 1945. Extending a goodwill gesture, [...]
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With no safety net from federal governments in the U.S. and Europe, domestic and global markets are showing signs of uncertainty. Dow ($INDU) and S&P 500 ($INX) opened lower Monday from Friday’s close and at this point has stayed lower. NASDAQ ($COMPX) is up slightly. With stalling economies and investors dependent as of late on [...]
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By far China is the “sickest” country of 35 industrialized nations surveyed. (Absentee video attached below.) Survey Said: China led all other polled regions with 71 % of workers admitting to calling in sick if they weren’t actually ill. France had the smallest number with only 16 %. U.S. had 52 % ring in ill [...]
Mind-blowing shrimp ‘n’ grits just minutes from an awesome southern surf scene. To wake up under the ornate fourteen-foot ceilings of the Wentworth Mansion is to wonder if some southern heiress took you home with her the night before. The stately digs were once the city’s finest home, and they make you feel not like [...]
House Speaker John Boehner informed President Barack Obama Saturday that a smaller agreement of about $2 trillion was more realistic. In a statement issued Saturday evening, Boehner said: “Despite good-faith efforts to find common ground, the White House will not pursue a bigger debt reduction agreement without tax hikes.” The White House responded that Obama [...]
NEW YORK (Reuters) – Stocks fell slightly on Wednesday after a downgrade of Portugal’s credit rating, China’s interest rate rise and a soft report on the U.S. services sector sparked jitters about global growth prospects. The downgrading of Portugal’s credit rating to “junk” by Moody’s shocked financial markets and cast new doubt on European efforts [...]
White House Tim Geithner Sonsidering Leaving The CNNMoney’s Jen Liberto, CNN’s Gloria Borger, Chief Political Analyst, and Jessica Yellin, Chief White House Correspondent, contributed to this report. Tim Geithner is considering leaving his post as Secretary of the Treasury after a deal to raise the debt ceiling is reached, a source familiar with the discussion [...]