Economy
Related: About this forumSTOCK MARKET WATCH -- Thursday, 17 May 2012
[font size=3]STOCK MARKET WATCH, Thursday, 17 May 2012[font color=black][/font]
SMW for 16 May 2012
AT THE CLOSING BELL ON 16 May 2012
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Dow Jones 12,598.55 -33.45 (-0.26%)
S&P 500 1,324.80 -5.86 (-0.44%)
Nasdaq 2,874.04 -19.72 (-0.68%)
[font color=green]10 Year 1.76% -0.01 (-0.56%)
30 Year 2.90% -0.05 (-1.69%) [font color=black]
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[font size=2]Market Conditions During Trading Hours[/font]
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[font size=2]Euro, Yen, Loonie, Silver and Gold[center]
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[font color=black][font size=2]Handy Links - Market Data and News:[/font][/font]
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Economic Calendar
Marketwatch Data
Bloomberg Economic News
Yahoo Finance
Google Finance
Bank Tracker
Credit Union Tracker
Daily Job Cuts
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[font color=black][font size=2]Handy Links - Economic Blogs:[/font][/font]
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The Big Picture
Financial Sense
Calculated Risk
Naked Capitalism
Credit Writedowns
Brad DeLong
Bonddad
Atrios
goldmansachs666
The Stand-Up Economist
The Automatic Earth
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[font color=black][font size=2]Handy Links - Government Issues:[/font][/font]
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LegitGov
Open Government
Earmark Database
USA spending.gov
[/center][font color=black][font size=2]Handy Links - Videos:[/font][/font]
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Charlie Rose talks with Roubini
Charlie Rose talks with Krugman
William Black: This Economic Disaster
Bill Moyers with Kevin Drum and David Corn
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Financial Sector Officials Convicted since 1/20/09 = [/font][font color=red]12[/font]
2/2/12 David Higgs and Salmaan Siddiqui, Credit Suisse, plead guilty to conspiracy involving valuation of MBS
3/6/12 Allen Stanford, former Caribbean billionaire and general schmuck, convicted on 13 of 14 counts in $2.2B Ponzi scheme, faces 20+ years in prison
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[font size=3][font color=red]This thread contains opinions and observations. Individuals may post their experiences, inferences and opinions on this thread. However, it should not be construed as advice. It is unethical (and probably illegal) for financial recommendations to be given here.[/font][/font][/font color=red][font color=black]
Tansy_Gold
(17,816 posts)(Sorry I'm late. Laptop reinfected with nasty "trojan," McAfee won't disinfect and are being general assholes, not to mention THEY CLOSE AT 6:00 P.M.)
girl gone mad
(20,634 posts)Demeter
(85,373 posts)Japans economy rebounded in the first quarter, but analysts warned that the pace of expansion will soon ease as temporary boosts to consumption and investment fade.
Thursdays data from the Cabinet Office showed that the worlds third-largest economy grew 1 per cent between January and March, slightly higher than forecast, compared to revised 0.1 per cent growth in the final three months of 2011.
While an annualised growth rate of 4.1 per cent is striking more than three times better than forecast 2012 real average growth in the G10 economies Japan is unlikely to keep it
up, say analysts.
Read more >>
http://link.ft.com/r/DHGUVV/L9AMIE/4VXHZ/5VY3IN/ZGJVLK/B7/t?a1=2012&a2=5&a3=16
SO WHY IS THE NIKKEI DOWN IN THE DUMPS YET AGAIN?
Demeter
(85,373 posts)Spains government will on Thursday announce the appointment of Blackrock and Oliver Wyman as independent valuers of the real estate loans that lie at the heart of the countrys banking crisis
Read more >>
http://link.ft.com/r/3JFELL/ORMW76/JQU4J/U12DAW/KQZNA4/1G/t?a1=2012&a2=5&a3=16
kickysnana
(3,908 posts)xchrom
(108,903 posts)xchrom
(108,903 posts)When Tyson Foods Inc. (TSN) and Wal-Mart Stores Inc. (WMT) received internal reports that employees may have paid bribes in Mexico, each faced the same vexing question: should they turn themselves in to U.S. authorities?
Tyson, the biggest U.S. food processor, admitted bribing government-employed inspectors and paid $5.2 million to avoid prosecution. Wal-Mart, the worlds largest retailer, began an internal probe in 2005, shut it down and didnt disclose the matter to regulators and prosecutors until late last year, after learning the New York Times was investigating, the paper said.
The U.S. offers leniency to companies like Tyson that self- report. Yet many choose to remain quiet, calculating that they will cooperate with the government if it uncovers their bribery. Companies root out their wrongdoing and improve their compliance programs, assuming that any credit the government gives them for self-reporting is not worth the fines and penalties and negative publicity that follow disclosure.
Ive represented many, many companies that have elected reasonably not to disclose, and management at those companies was highly ethical, said Joel Cohen, a former federal prosecutor now at Gibson, Dunn & Crutcher LLPs New York office. Disclosure is not some magic bullet. The magic bullet is having a good system to mitigate corruption.
Demeter
(85,373 posts)xchrom
(108,903 posts)The U.S. Senate voted to reauthorize the Export-Import Bank for three years and increase its lending authority 40 percent by 2014, clearing the measure for President Barack Obamas signature.
The 78-20 vote yesterday follows passage of the measure by the House last week. The bill, H.R. 2072, would raise the banks lending limit to $140 billion. The Export-Import Bank may reach its current limit of $100 billion by May 31 without the reauthorization.
This bank helps American companies sell their products overseas and hire workers here at home, Senate Majority Leader Harry Reid, a Nevada Democrat, said on the Senate floor. Reauthorizing this important legislation is the kind of consensus proposal that shouldnt result in any kind of a partisan fight.
The 78-year-old bank provides loan guarantees, insurance and loans to help buyers purchase U.S. exports. Last year it approved a record $32.7 billion in financing, with more than $6 billion supporting small-business exports, according to a bank fact sheet. About $11 billion of the financing benefited large commercial sales of Boeing Co (BA).-manufactured aircraft, it said.
Demeter
(85,373 posts)European Q1 GDP data came out overnight. Germany was better than expected with a rise of 0.5% in the quarter and to 1.2% over the previous 12 months. France stagnated and the periphery continued to contract.
The German data was obviously a highlight, but as I spent much of last year explaining, good German data is a double edged sword. Although it is good for Germany, it is a big negative for the rest of Europe because one of the major issues that brought on the crisis in the first place was the competitiveness imbalance of nations under the single currency. As you can see from the chart below, countries that that are the major source of European risk continue to suffer economic contraction which, given the renewed strength of Germany, makes this imbalance worse:
xchrom
(108,903 posts)An 18th-century Chinese green jade seal associated with the Qianlong Emperor sold at an auction in London for 3.4 million pounds ($5.4 million). It had been housed in the Hall of the Three Rarities (San Xi Tang) at the Forbidden City, Beijing, according to the auction catalog.
An 18th-century Chinese green jade seal associated with the Qianlong Emperor sold today at an auction in London for 3.4 million pounds ($5.4 million).
Of double-gourd form carved with three dragons, the seal had been housed in the Hall of the Three Rarities (San Xi Tang) at the Forbidden City, Beijing, auction house Bonhams said. It had been offered by a private European collector with an estimate of 1 million pounds to 1.5 million pounds. The buyer, making telephone bids, was underbid in the room by Taiwan-based dealer Arts of Chen.
*** SNIP{you never hear this in the news - just how high the prices are}
Chinese Imperial objects with European provenances have been contested to record levels by Asian bidders in recent years. Slow and non-payment has been an issue at some auctions.
xchrom
(108,903 posts)(Reuters) - Customers at nationalised Spanish bank Bankia SA (BKIA.MC) have taken out more than 1 billion euros (819.2 million pounds) over the past week in a sign of fast-fading confidence in the lender, a newspaper reported on Thursday.
Newly appointed Chairman Jose Ignacio Goirigolzarri informed a board meeting on Wednesday about the exit of funds from the bank, El Mundo said, citing information from the board meeting it had seen.
Bankia, the Bank of Spain and the economy ministry declined to comment on the report.
The government on May 9 took over Bankia, the country's fourth-largest lender, in an attempt to dispel concerns over the bank's ability to deal with losses related to the 2008 property crash.
Uncertainty over the final cost of Spain's banking reforms has stoked investor fears that an expensive international bail-out could be on the cards, adding to concerns about the survival of the euro zone.
Po_d Mainiac
(4,183 posts)Coming to America, when sheeple on this side of the Atlantic realize there ain't enough money in the Bair account to clear deposits in the too fucking bigs?
But The Morgue was the only bank doubling down on bad bets with OPM...Right?
FarCenter
(19,429 posts)Po_d Mainiac
(4,183 posts)Tiny turbo ain't got control of the printing presses.
Fuddnik
(8,846 posts)What could be a more entertaining diversion than Weepy, Dopey, and their Democratic counterparts?
Po_d Mainiac
(4,183 posts)FarCenter
(19,429 posts)FDIC's web site says that it is backed by the full faith and credit of the US.
There is undoubtedly an Executive Order that could be used in a "national emergency".
Bear in mind that FDIC would not keep a TBTF bank from failing -- just pay the $250K guaranteed accounts.
Po_d Mainiac
(4,183 posts)In just one of the fat boys.
Last ones to the window get an IOU......But the "bank holiday (week/s)" would be called well before you had the chance to even get that.
FarCenter
(19,429 posts)US deposits were $738 B as of end of '11, but $435 B were savings and time deposits. Given that lots of deposits are >$250K, the FDIC could easily cover those it is responsible for in the "near future". The savings and time deposits have account restrictions on how fast you can withdraw funds.
The FDIC would not make funds available immediately in any case. They currently do so by merging small unsound banks into larger sound banks. That would not be the case in a major failure. And yes, the regulators would invoke fine print to pace withdrawals, cash advances on credit cards, etc.
Po_d Mainiac
(4,183 posts)The Dodd-Frank Deposit Insurance Provision is effective from December 31, 2010 through December 31, 2012.
http://www.fdic.gov/deposit/deposits/unlimited/implementation.html
This means that checking accounts (like payroll) also fall under the coverage umbrella.
Demeter
(85,373 posts)or electrons....electrons are the ultimate in fungible.
Po_d Mainiac
(4,183 posts)There wood not be any debt ceiling debate.
The Bernank prints....Turbo borrows
Demeter
(85,373 posts)Or we could pull out of Afghanistan....
xchrom
(108,903 posts)Reuters) - Global trade growth will slow this year and volumes are unlikely to regain their pre-crisis trend for at least another four years, according to a survey released on Thursday.
The International Chamber of Commerce said it expected trade, the life blood of the global economy, to expand by 5.2 percent this year and by 7.2 percent in 2013.
Growth for all of 2011 was 6.6 percent, driven by emerging markets, but slowed down towards the end of the year. Euro zone export volumes fell 5.9 percent in 2011.
After the collapse of Lehman Brothers in September 2008, global trade suffered the steepest slump since the Great Depression of the 1930s as banks pulled in their horns. These financial problems have diminished but have not disappeared, the ICC warned.
xchrom
(108,903 posts)here are many things Alexis Tsipras likes about Germany. The leader of Greece's Coalition of the Radical Left (Syriza) party drives his BMW motorcycle to work at the Greek parliament in the morning, Germany's über-leftist Oskar Lafontaine is one of his political allies, and when it comes to his daily work, his colleagues have noticed a certain tendency toward Prussian-style perfection.
Tsipras could easily count as a friend of the Germans, if it weren't for the German chancellor. Greek magazines have frequently caricatured Angela Merkel dressed in a Nazi uniform, because she imposes her fondness for balanced budgets and austerity on the rest of Europe. The Greeks, says Tsipras, want to "put an end" to the Germans' requirements and their "brutal austerity policy."
Tsipras is the new political star in Athens. While the country's washed-up mainstream parties struggled for days to form a new government, the clever young politician has been dominating the headlines with his coalition movement of Trotskyites, anarchists and leftist socialists.
In the recent elections, Tsipras' Syriza party advanced to become the second-largest political force in the country, and Tsipras is making sure his gray-faced opponents from the Greek political establishment know it. Surrounded by cameras and microphones, he stood in the Athens government district last Tuesday, put on his winner's smile and called upon the two traditional parties, the center-left Socialists (PASOK) and the conservative New Democracy, to send a letter "to the EU leadership" and cancel the bailout deal that Athens made with the EU and the International Monetary Fund (IMF).
Demeter
(85,373 posts)That Tsipras has more than Trotskyites, anarchists and leftist socialists on his side. Like maybe some ordinary working people. Family people. Solid citizen types.
xchrom
(108,903 posts)Fuddnik
(8,846 posts)In fact, I think I will!
xchrom
(108,903 posts)so you have to have another one for me!
Demeter
(85,373 posts)And where to get the fixings, too.
xchrom
(108,903 posts)i can cook a lot of stuff -- but i have notable holes -- the gyro being one.
Demeter
(85,373 posts)The meat is available at Gordon's Food Service...perhaps your local restaurant supplier would have it.
xchrom
(108,903 posts)xchrom
(108,903 posts)The journalists' visit to the Paris-based headquarters of French automaker Renault kicked off in a very French way: with an almost two-hour lunch. It was naturally not a simple affair in the company cafeteria. The meal at the nearby Cap Sequin restaurant boasted three artery-clogging courses, a bottle of white wine and a wonderful view of the Seine River followed by coffee and chocolates. At about half past two, it was finally time to get back to work, though it was somehow difficult to do so.
For decades, France's economy has violated established laws of economics and not just because of the cholesterol-packed lunches. There's also the fact that France is the world leader in terms of vacation days, has a nationwide 35-hour work week and allows its citizens to retire at 65, two years earlier than in Germany. On top of that, France has strict regulations regarding employee termination and a swollen public sector. Nearly 57 percent of France's economic performance flows through state hands. That figure is about 10 percent higher than in Germany and a record level among industrialized nations.
Now France has elected François Hollande, a Socialist president whose most important pledge was "More of the same!" He has called for public-sector jobs financed with a 75 percent tax on top earners, and more time to enjoy retirement. Indeed, while Germany just boosted its retirement age to 67, its western neighbors might soon be able to leave the working world at 60 with a full pension.
Given these facts, it should come as no surprise that France is struggling with a few economic problems: major budget shortfalls, persistently low economic growth and a high youth-unemployment rate. Even more astounding, however, is just how good the French are doing despite their idiosyncratic economic model. Admittedly, per capita economic performance is 8 percent lower in France than Germany, after adjusting for differences in purchasing power. But considering that the French have been the world champions of savoir vivre for decades, while the Germans have been self-denying work horses, that 8 percent difference doesn't really seem so big.
Tansy_Gold
(17,816 posts)But then, a lot of things we here in SMW "know" seem to surprise a lot of other people. . . .
Demeter
(85,373 posts)They figure there's a lot of fat on the hoof.
xchrom
(108,903 posts)Jamie Dimon said it could get worse... and it is.
The JP Morgan trading loss that was $2 billion four days ago is now $3 billion, report Nelson Schwartz and Jessica Silver-Greenberg in the New York Times.
Why?
Because every hedge fund in the world knows JP Morgan is stuck in a position so big that it can't unwind it... and they're betting against it.
Can JP Morgan fire those risk managers and traders who placed the trade all over again? Nope.
Can it claw back the massive bonuses it paid to those risk managers and traders in prior years? Nope.
The good news is that the taxpayer-subsidized Too-Big-To-Fail JP Morgan was expected to earn $6 billion this quarter. So it has only wiped out half of that profit so far. Another $3 billion to go...
Read more: http://www.businessinsider.com/jp-morgan-loss-grows-2012-5#ixzz1v87JhkG4
Po_d Mainiac
(4,183 posts)$1T in deposits (+/-)
$1T in Assets (+/-) Marked to myth?
$78T in derivative exposeure (hedged no doubt)
xchrom
(108,903 posts)ORIGINAL POST: Big data point coming up at 8:30 AM ET: Initial jobless claims.
Analysts are looking for claims of 365K, down 367k last week.
If you recall, last week's number was a big relief, as it was down from the previous couple of weeks, which had been spiking.
We'll have the number here LIVE.
UPDATE: Slight miss. Initial claims come in at 370K, which is the same as last week's upwardly revised 370K.
Markets still in the red.
Read more: http://www.businessinsider.com/initial-jobless-claims-may-17-2012-5#ixzz1v87zJxJY
Roland99
(53,342 posts)* Weekly U.S. jobless claims unchanged at 370,000
* Four-week claims average falls 4,750 to 375,000
* Continuing claims rise 18,000 to 3.27 million
Roland99
(53,342 posts)* Leading economic indicators fall 0.1% in April
* Philly Fed business index falls to -5.8 in May
* Philly Fed index was expected to rise to 10.0
Markets dropping further.
[font color="red"]Dow 12,544 -54 -0.43%
Nasdaq 2,854 -20 -0.69%
S&P 500 1,317 -8 -0.58%
GlobalDow 1,779 -10 -0.56%[/font]
Gold 1,551 +14 +0.92%
Oil 93.19 +0.38 +0.41%
Roland99
(53,342 posts)Po_d Mainiac
(4,183 posts)It took the algos a bit longer to finger out the difference
Roland99
(53,342 posts)xchrom
(108,903 posts)One of the effects of a Grexit: A major whooshing sound, as cash rushes out of Spanish and Italian banks, as nervous nationals fear a return to pre-euro currencies in their countries.
Says SocGen:
A Greek exit could lead to a 20-30% deposit outflow
We believe that unless a credible deposit insurance scheme is set up or other credible mitigation measures are taken, savers in Spain and Italy (as well as Portugal) will fear a return of their historical currencies. This could prompt them to withdraw their deposits from the local banks and try to turn them into either resilient assets or move them outside the country. This is unlikely to take place in the form of a bank run but will more likely materialise as a continuing drain over 12 to 18 months.
...
Absent a major intervention by the ECB, the Italian and Spanish banks will then have to (i) de-lever their balance sheet to offset the reduced deposit availability, (ii) de-lever further to a 110% loan/deposit ratio to mitigate the continued drought in the wholesale funding market and (iii) offer materially higher rates on the remaining available deposits in the market. We assume for the purposes of this analysis that the Italian and Spanish banks will not repay the LTRO early and that the ECB will prolong the LTRO from 3 years to 5 years.
All that being said, it's not unreasonable to think that if Greece were to leave that the ECB would in fact be very proactive, opening up all kinds of new firewalls (including deposit insurance) to make sure that something like this doesn't happen. Since a Grexit will probably be induced by the ECB (via the ECB shutting off Greek banks from funding) it won't be caught unawares (most likely!).
Read more: http://www.businessinsider.com/socgen-if-greece-leaves-the-eurozone-there-will-be-major-withdrawals-from-spanish-and-italian-banks-2012-5#ixzz1v88mIyC3
AnneD
(15,774 posts)the smart Greeks have gotten their Euros out of the bank before they turn in to Drachmas. That $1000 Euros in the bank is about to become 300 drachmas.
Again, the smart Spaniards and Portuguese should be taking their Euros out now and look for a mattress or a bank in Germany. Actually, if I were Portuguese, I would consider moving to Brazil, but that is just me.
The truth about a banking crisis or any monetery crisis; you are in or you are out...and you don't want to be caught with all your money in the bank. Once they close the bank door, it is too late, you have been fleeced. This is based on stories that have been recounted to me from folks in Iran, Argentina, and Viet Nam.
xchrom
(108,903 posts)TalkingDog
(9,001 posts)Theres one idea, though, that TEDs organizers recently decided was too controversial to spread: the notion that widening income inequality is a bad thing for America, and that as a result, the rich should pay more in taxes.
http://www.nationaljournal.com/features/restoration-calls/too-hot-for-ted-income-inequality-20120516
---
Prepare to meet Nick Hanauer. He's a venture capitalist from Seattle who was the first non-family investor in Amazon.com. Today he's a very rich man. And, somewhat jarringly, he's screaming to anyone who will listen that he, and other wealthy innovators like him, doesn't create jobs. The middle class does - and its decline threatens everyone in America, from the innovators on down.
http://roundtable.nationaljournal.com/2012/05/the-inequality-speech-that-ted-wont-show-you.php
xchrom
(108,903 posts)if i could find it there -- and i could not -- including using hanauer's name.
bread_and_roses
(6,335 posts)'cause whatever it is, I missed it ...but don't want to bother if not worth the effort - TY to anyone who knows
xchrom
(108,903 posts)Demeter
(85,373 posts)I am happy--even though it's a trifle chilly--went down to 38F or lower last night, won't get up to 70F today.
It's probably that giddiness that comes from ignoring an overtaking reality, but it will do for now.
Actually, I am happy that events are breaking loose of elitist manipulation--the sooner the games end, the sooner the real reconstruction (and prosecution) can begin.
xchrom
(108,903 posts)MUMBAI - The Indian rupee dived to an historic low of 54.51 to the US dollar on May 16, to continue its unexpected plight as one of Asia's most ailing currencies in recent times - and continuing a double-edged existence as both a symptom of economic troubles and a doctor in disguise.
Numerous factors, from widening fiscal and trade deficits, inflation, investors rejecting governmental policies, as well as the euro debt crisis in Greece are being attributed to the increasing demand for the dollar at the expense of the rupee.
While Finance Minister Pranab Mukherjee assured parliament on May 16 that the "complex" situation in Europe had affected Asian markets and the Indian rupee, his somewhat strange policies have
also contributed to more funds leaving India than entering it.
The controversial general anti-avoidance rule (GAAR), for instance, shocked multinationals in India with its aim to retrospectively tax companies on earlier investments. Britain's Vodafone was asked for taxes for its purchase of the Hong Kong-based Hutchison's cell phone business in India in 2007.
Mukherjee has suspended GAAR for a year, but the backtracking has done little to boost investor confidence in the government. The currency of one of the world's fastest growing economies is expected to sink to 56 to the dollar later this year.
Eugene
(61,593 posts)Source: Reuters
Spain beset by bank crisis, recession, bond pressure
By Sonya Dowsett and Paul Day
MADRID | Thu May 17, 2012 9:43am EDT
(Reuters) - Spain's borrowing costs shot up at a bond auction on Thursday, after economic data confirmed the country is back in recession and reports of an outflow of deposits from nationalized Bankia hammered its share price.
The Spanish Treasury had to pay around 5 percent to attract buyers of three- and four-year bonds. The longer-dated paper sold with a yield of 5.106 percent, way above the 3.374 percent the last time it was auctioned.
"This ... fits the pattern of recent sales, with the Spanish treasury successfully getting its supply away but at ever-higher yields," said Richard McGuire, rate strategist at Rabobank in London.
"This unfavorable trend looks set to remain firmly in place ... Ultimately, this ratcheting up of yields will likely require some form of outside intervention," McGuire said.
[font size=1]-snip-[/font]
Read more: http://www.reuters.com/article/2012/05/17/us-spain-economy-idUSBRE84G0CK20120517
Eugene
(61,593 posts)Source: CNNMoney
Moody's downgrades Spanish banks
By Annalyn Censky and James O'Toole @CNNMoneyInvest May 17, 2012: 5:47 PM ET
NEW YORK (CNNMoney) -- Rating agency Moody's downgraded 16 Spanish banks on Thursday, the latest sign of distress in Europe.
Among those downgraded were giants Banco Santander and BBVA, the country's two largest banks. Moody's cited concerns about the banks' exposure to Spain's faltering economy and the "reduced" ability of the Spanish government to support them in a crisis.
"The Spanish economy has fallen back into recession in first-quarter 2012, and Moody's does not expect conditions to improve during 2012," the agency said.
"Moreover, the real-estate crisis that began in 2008 is ongoing, and unemployment has risen to very high levels, with rising risks to white-collar employment (in addition to extremely-high youth unemployment) affecting the outlook for banks' household lending."
[font size=1]-snip-[/font]
Read more: http://money.cnn.com/2012/05/17/markets/moodys-downgrade-spanish-banks/
Fuddnik
(8,846 posts)Picking up young ladies!
DemReadingDU
(16,000 posts)Demeter
(85,373 posts)Demeter
(85,373 posts)As Greece erupts, Italy is moving into the eye of the storm. Its economy is contracting at speeds not seen since the depths of the slump in 2009 as draconian austerity bites, greatly increasing the risk of social revolt and a banking crisis...With the world's third largest debt after the US and Japan at 1.9 trillion (£1.18 trillion), it is big enough to bring the global financial system to its knees. It is also in the front line of contagion as the Greek crisis metastasizes.
Yields on 10-year Italian debt jumped 16 points to 5.86pc on Tuesday after Italy's data agency said the country is sliding even into deeper recession, with GDP shrinking 0.8pc in the first quarter.
Output is now 6pc below its peak in 2008. Italy has been trapped in perma-slump for a decade, the only major state to suffer a fall in real per capita income since 2000...The unelected government of Mario Monti is carrying out net fiscal tightening of 3.5pc of GDP this year even though Italy's budget is near primary surplus. This is three times the International Monetary Fund's "therapeutic" pace. All key measures of Italy's money supply have been contracting at 1930s rates over the last six months. ...
AnneD
(15,774 posts)Fudd, I luv you but... don't even go there.
Long time SWT regulars will remember when I first sent her off to school. Well, she graduated on time-something about the exorbitant tuition seemed to be a motivating factor. She was interviewed for a university publication last week because; she is a top student in her field, she is female in a male dominated field, and she is pretty darn photogenic. (again-watch it Fudd )
She has started a bit of interviewing, but with her references, we think she should have no problems. She has already had some offers. In addition to learning her craft, she has managed to make a lot of connections.
Anyway, I will leave out of Houston tomorrow and be back late Monday night. I may take my I pad, I haven't decided yet. If I do, I will drop a line. I can't tell you how glad I am that she has graduated. I can even make nice with the ex for a few days as long as there are adult beverages served.
Happy hunting and watch out for the bears.
DemReadingDU
(16,000 posts)Best of luck to her in her career!
Ghost Dog
(16,881 posts)Demeter
(85,373 posts)jtuck004
(15,882 posts)Demeter
(85,373 posts)Roland99
(53,342 posts)Roland99
(53,342 posts)that and 30-year mortgage rates are hitting a record low, too, at 3.79%
Roland99
(53,342 posts)Nasdaq 2,833 -41 -1.43%
S&P 500 1,312 -13 -0.96%
GlobalDow 1,780 -9 -0.49%[/font]
Gold 1,575 +38 +2.48%
[font color="red"]Oil 92.51 -0.30 -0.32% [/font]
Roland99
(53,342 posts)Nasdaq 2,826 -48 -1.67%
S&P 500 1,310 -15 -1.10%
GlobalDow 1,778 -11 -0.61%
Oil 92.31 -0.50 -0.54% [/font]
Gold 1,574 +37 +2.42%
Roland99
(53,342 posts)TalkingDog
(9,001 posts)Roland99
(53,342 posts)Nasdaq 2,814 -60 -2.10%
S&P 500 1,305 -20 -1.51%
GlobalDow 1,774 -15 -0.82%
Oil 92.52 -0.29 -0.31% [/font]
Gold 1,574 +38 +2.46%
Gonna be a Freaky Friday.
Demeter
(85,373 posts)Can't say as I'd blame them, either. I guess it would be a great weekend to curl up with Karl Marx.
Eugene
(61,593 posts)Source: CNNMoney
Greece downgraded deeper into junk
By Chris Isidore @CNNMoney May 17, 2012: 3:20 PM ET
NEW YORK (CNNMoney) -- The credit rating on Greece's government debt was downgraded deeper into junk bond territory on Thursday.
Fitch Ratings cited the increased risk that Greece, operating now with a caretaker government, could be forced to leave the eurozone following more elections next month.
An exit from the eurozone would be "probable" if the elections fail to produce a government willing to stand by earlier austerity agreements reached with eurozone leaders, Fitch said.
In turn, the country's departure from the eurozone would "result in widespread default on private sector as well as sovereign euro-denominated obligations," the ratings agency said.
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Read more: http://money.cnn.com/2012/05/17/news/economy/greece-downgrade/index.htm