Archive for the ‘Financial crisis’ Category
The financial system established in England after 1688, based on usurious lending to the state by private bankers, is reaching its final blowout in the form of a series of devastating bubbles and a massive bailout of the financiers with public money. But the issuance of money doesn’t have to be in the hands of a private consortium: another credit system is possible.
Posted by seumasach on July 7, 2015
Cailean Bochanan
7th July, 2015
Coming at the end of a week in which the Greek people overwhelmingly reasserted their desire to remain in the Eurozone, the “No” vote can only be a result of Tsipras’ ability to convince them that their position in the Eurozone is safe, whatever happens. That now looks like a very shaky assumption and, I expect, a brazen deception on Tspras’ part. It is particularly pertinent to recall, at this point, that it was German Finance Minister, Schauble himself, who first proposed a referendum on proposals for Greece back in May and that this same Schauble had been arguing for Greek withdrawal from the euro in the face of the position of Angela Merkel. Merkel now looks on the way out if the latest take down on her by Spiegel is anything to go by. Could it be that, after a murky and convoluted process that has left everyone perplexed, Schauble has won?
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Posted in Battle for Europe, Financial crisis | Tagged: grexit, new global financial architecture, tsipras | 1 Comment »
Posted by seumasach on June 29, 2015
….And Markets Are Totally Unprepared
Investment Watch Blog
26th June, 2015
The financial markets have had a bit of a tough time going anywhere this year.
The S&P 500 has been caught in a 6% trading band all year, capped on the upside by a 3% gain and on the downside by a 3% price loss. It has been a back-and-forth flurry while the stock market up to this point has simply marked time.
We’ve seen a bit of the same in the bond market: after rising 3.5% in the first month of the year, the ten year Treasury bond has given away its year-to-date gains and then some.
2015 stands in relative contrast to largely upward stock and bond market movement over the past three years. What’s different this year and what are the risks to investment outcomes ahead?
Read more at http://investmentwatchblog.com/the-global-credit-market-is-now-a-lit-powderkeg-and-markets-are-totally-unprepared/#r6DHgXse6YI5yEEM.99
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Posted in Financial crisis | Tagged: bond bubble | Leave a Comment »
Posted by seumasach on June 23, 2015
The moment is approaching when the bankruptcy of the financial sector, a dead weight on the overall economy , has to be addresses. This “bail-in” or de-facto bankruptcy process will itself be painful, resulting in the wipeout of billions in shares and paper securities but it is the indispensable basis for reconstruction of the real economy.
GEAB(source-Deutsche Welle)
22nd June, 2015
Brussels and Amsterdam have joined London, France, Germany and Italy in hosting mass rallies in support of cash-strapped Greece. Demonstrators said the financial sector must take responsibility for the damage it caused.
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Posted in Financial crisis | Tagged: no more bailouts, stop the bailout | Leave a Comment »
Posted by seumasach on June 13, 2015
Telegraph
12th June, 2015
Investors are withdrawing money from emerging markets at the fastest rate since the global financial crisis, raising the risk of a ‘sudden stop’ in capital flows as the US Federal Reserve prepares to turn off the spigot of cheap dollar liquidity.
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Posted in Financial crisis | Tagged: bond bubble | Leave a Comment »
Posted by seumasach on May 3, 2015
Sputnik
30th April, 2015
In early 2014, Justin Yifu Lin, the former World Bank Chief Economist, blamed the dominance of the US dollar for global economic crises and said it should be eliminated as the world’s reserve currency. According to Lin, the solution would be to replace the national currency with a global currency.
In the recent months, several countries, including Russia, China, India and Turkey, have decided to ditch the US dollar in their foreign trade, often paying for products in gold or other agreed on currencies.
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Posted in Financial crisis | Tagged: dollar collapse, End of empire, new financial architecture | Leave a Comment »
Posted by seumasach on May 3, 2015
Liam Halligan
Telegraph
2nd May, 2015
Aren’t financial assets “simply pumped up by printed money?” Don’t share prices “need to adjust downward by something like 50pc?” Is it “really the case that if Greece leaves monetary union, other countries won’t follow?” It must “surely be wrong to try solving a debt problem by taking on even more debt?”
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Posted in Financial crisis, UK economy | Tagged: bankrupt Britain, End of empire, no more bailouts | Leave a Comment »
Posted by seumasach on May 2, 2015
Paul Craig Roberts
Institute For Political Economy
29th April, 2015
The announcement today (April 29) of a barely positive GDP first quarter 2015 growth rate of 0.2 percent (two-tenths of one percent) is an intentional exaggeration.
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Posted in Financial crisis | Tagged: economic collapse, End of empire | Leave a Comment »
Posted by seumasach on April 15, 2015
Oil-Rich Nations Are Selling Off Their Petrodollar Assets at Record Pace
GEAB(Source: Bloomberg)
April, 2015
In the heady days of the commodity boom, oil-rich nations accumulated billions of dollars in reserves they invested in U.S. debt and other securities. They also occasionally bought trophy assets, such as Manhattan skyscrapers, luxury homes in London or Paris Saint-Germain Football Club.
Now that oil prices have dropped by half to $50 a barrel, Saudi Arabia and other commodity-rich nations are fast drawing down those “petrodollar” reserves. Some nations, such as Angola, are burning through their savings at a record pace, removing a source of liquidity from global markets.
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Posted in Financial crisis | Tagged: petrodollar sell-off | Leave a Comment »
Posted by seumasach on April 14, 2015
“The investment is a strategically important beginning for our exploration in the European market,” Li Huaizhen, Minsheng’s CEO, said in Shanghai
Telegraph
15th February, 2015
A Chinese investment firm has announced it is to invest £1bn in a homegrown development project to create a third financial district in east London.
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Posted in UK economy | Tagged: Chinese soft power, End of empire, The Great British Sell-Off | Leave a Comment »
Posted by seumasach on April 12, 2015
How China grew desperate to conceal its power from the world
Telegraph
11th April, 2015
The creation of the prosaic-sounding Asian Infrastructure Investment Development Bank (AIIB) has landed the biggest blow to America’s superpower status in the post-war era.
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Posted in Financial crisis, Multipolar world | Tagged: Chinese soft power, new financial architecture | Leave a Comment »
Posted by seumasach on April 12, 2015
Independent
12th April, 2015
Every man, woman and child in Britain is more than £3,400 in debt – without knowing it and without borrowing a single penny – thanks to the proliferation of controversial deals used to pay for infrastructure such as schools and hospitals.
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Posted in Financial crisis, UK economy | Tagged: bankrupt Britain, private finance initiative | Leave a Comment »
In These New Times 