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Aug 2, US-living on borrow time from debt disaster
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teeth53
Supreme |
20-Jun-2011 09:40
Yells: "don't learn through life, learn to grow with life " |
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LatestNews: http://www.reuters.com/places/greece Euro zone finance ministers postponed a final decision on extending a further 12 billion euros ($17B) in emergency loans to Greece, saying Athens will 1st have to introduce harsh austerity measures. NEW YORK (Reuters) - The S& P 500's 200-day moving average marks the line in the sand as the bulls and the bears fight over the U.S. stock market's direction. It will face one of its stiffest tests this week with Greece's debt crisis appearing to reach a climax. Greek debt restructuring not on agenda-EU's Barnier* Forcing private creditor aid to Greece would imply default |
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teeth53
Supreme |
18-Jun-2011 22:01
Yells: "don't learn through life, learn to grow with life " |
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http://economictimes.indiatimes.com/news/international-business/imf-may-give-next-tranche-of-euro-12-bn-to-bail-out-greece/articleshow/8882342.cms LONDON: Europe is once again in turmoil, and once again it seems as if a last-minute compromise is likely to stave off what many are calling Europe's Lehman moment. The latest news seems to suggest that the IMF will agree to release its next tranche of e12 billion by Sunday, at the earliest, even as Greece's prime minister struggles to get parliamentary vote to pass a draconian e78-billion (S$110 billion) five-year package of budget cuts and asset sales. Will their debt can still keep increasing beyond......political wrangling and opposition to austerity measures could push the country into a messy default on its sovereign debt, which totals 340 billion euros (S$480.8 billion). |
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teeth53
Supreme |
18-Jun-2011 21:51
Yells: "don't learn through life, learn to grow with life " |
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Lastest news on Greek debt...Isit enuff to save Greek's..?. http://economictimes.indiatimes.com/news/international-business/european-leaders-scramble-to-save-greece-from-debt-default-greeks-seem-to-be-in-denial/articleshow/8886319.cms ATHENS: Euro leaders are scrambling to save Greece from a debt default that could cause global economic turmoil , but the Greeks themselves seem in denial. Greeks seem more inclined to blame others for their troubles than accepting that something is deeply wrong with their country and painful medicine is urgent.
" The ordinary people don't understand the seriousness of the situation...not only for Greece, but for the whole world economy," said Jan Randolph, director of Sovereign Risk Analysis at IHS Global Insight. Violent protests against austerity measures demanded in return for an international rescue worth billions of dollars have combined with political infighting and euro zone dithering to severely spook international markets. No single element of society appears to have fully embraced the gravity of the situation, analysts say, and investors fear political wrangling and opposition to austerity measures could push the country into a messy default on its sovereign debt, which totals 340 billion euros ($480.8 billion). While countries like Latvia have taken IMF medicine, suffered quick but painful contractions, and are now on paths of recovery, analysts said Greece's case increasingly threatens to resemble Argentina, which defaulted in 2001 and is still shut out of financial markets. Greece's bailout lenders, the EU and IMF, have called for national consensus behind reforms to win a new financing package. Greek's itself  is spending  great deal of time pointing fingers rather than looking for solutions. Govt and opposition paint each other as obstructing a solution, private company workers blame the bloated public sector, civil servants blame tax cheats and most Greeks say corrupt politicians are the main problem. " The big problem of Greek society is the tendency to consider somebody else is responsible for everything that goes wrong," said Theodore Couloumbis, of the ELIAMEP think-tank. " It's like someone who suffers from a severe disease and wants to know what caused it rather than taking precautions to cure it." PAINFUL MEASURES -- The govt has reduced public sector wages by a fifth, raised the retirement age for women, cut pensions by more than 10 percent, and cut temporary public contract jobs. |
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teeth53
Supreme |
18-Jun-2011 21:27
Yells: "don't learn through life, learn to grow with life " |
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http://economictimes.indiatimes.com/news/international-business/germany-france-pact-calms-eurozone-fears/articleshow/8895607.cms UBS analyst Alexander Kyrtsis said. Initial Greek market reaction was positive with bank shares rising by as much as 4% and the Athens stock market index climbing 2%. 'Away From The Abyss' Bond markets remain spooked by fears of a Greek default and most economists are overwhelmingly sceptical that Greece can ever repay its debt mountain, which has reached 340 billion euros or 150% of the country's annual economic output. Reuters' calculations based on five-year credit default swap prices from Markit show an 81% probability of Greece eventually defaulting on its debt based on a 40% recovery rate. Jim O'Neill, chairman of Goldman Sachs Asset Management , said the risk of a Greek default was " getting closer" and slammed European policymakers for sparring in public with each other. " It is like open theatre," he said. But Michael Leister, a rate strategist at WestLB, said the common front shown by Merkel and Sarkozy had moved the bloc " a couple of steps away from the abyss" , reducing fears of a disorderly default in the near-term. The ECB and the European Commission have warned that any form of private sector involvement that causes a " credit event" or a downgrading of Greek debt to default status could wreak devastating damage on the euro zone. teeth53 thot: it is not going away...it is just postponing Greek's debt prolong problem alittle longer. There's big differences in  d countries' currencies. The dollar is the world's reserve currency and is managed by a single govt. |
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Hulumas
Supreme |
18-Jun-2011 09:28
Yells: "INVEST but not TRADE please!" |
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Is EURO QE1 coming?
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teeth53
Supreme |
18-Jun-2011 09:23
Yells: "don't learn through life, learn to grow with life " |
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http://money.cnn.com/video/news/2011/06/17/n_quest_greece_contagion.cnnmoney/?iid=HP_Highlight Could Greek default equal Lehman's bust? " They are doing their BEST"Greece: Crisis eases, but investors still nervous |
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Hulumas
Supreme |
17-Jun-2011 22:12
Yells: "INVEST but not TRADE please!" |
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Technically worse!
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teeth53
Supreme |
17-Jun-2011 16:38
Yells: "don't learn through life, learn to grow with life " |
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Is the United States really like Greece? U.S. economy? Gargantuan. Greece's economy? Tiny. http://money.cnn.com/2011/06/16/news/economy/greek_us_national_debt/index.htm?iid=HP_LN NEW YORK (CNNMoney) -- Deficit hawks often cite Greece's debt nightmare as a cautionary tale for the United States. The pain of Greece's crisis  There are also big differences in the countries' currencies.The dollar is the world's reserve currency and is managed by a single government. The euro, by contrast, is used by 15 sovereign countries. Therefore........For more info. pls click above. |
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Hulumas
Supreme |
17-Jun-2011 16:08
Yells: "INVEST but not TRADE please!" |
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Is QE 3 coming? | ||||
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MasterNg9999
Senior |
16-Jun-2011 23:27
Yells: "Isnt Human center of the universe???" |
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i seriously hope it is so... its not a matter of will anymore.... its how the EU review itself in all its honesty and not play the blame game.... at least Sing has imports from the ACFTA to hold it through.... Cheer
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teeth53
Supreme |
16-Jun-2011 22:49
Yells: "don't learn through life, learn to grow with life " |
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http://finance.fortune.cnn.com/2011/06/16/playing-chicken-with-the-debt-ceiling-is-a-dangerous-game/ Others question whether it's really such a big deal. Here's former  Governor Sarah Palin (R-AK):
The truth is that there is no drop-dead date. This is because the debt ceiling is an inherently mushy concept. There are plenty of accounting gimmicks that the government can use, and is using, to postpone the crisis Geithner sketched in the quote above. There is no drop-dead date for raising the debt ceiling, but that doesn't mean it's something we can afford to continue debating. Making a political game out of the debt ceiling is playing with fire.by James Hamilton, Econbrowser Treasury Secretary Timothy Geithner has been warning of serious repercussions if the debt ceiling is not raised, for example, in this  letter written May 13  to Senator Michael Bennett (D-CO):
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Hulumas
Supreme |
16-Jun-2011 11:59
Yells: "INVEST but not TRADE please!" |
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Let them do that whaever they like, who cares man!
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SGG_SGG
Master |
16-Jun-2011 10:41
Yells: "karma karma karma chameleon" |
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Yuppers on that.. At most Republicans will use this to barter with the Democrats for whatever political agendas they have.. I think in the end, the debt ceiling will be raised lor..
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teeth53
Supreme |
16-Jun-2011 10:20
Yells: "don't learn through life, learn to grow with life " |
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http://www.usdebtclock.org/  (14.4 Tri...) http://europe.chinadaily.com.cn/epaper/2011-05/06/content_12457731.htm  (3 Trillion..?) |
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teeth53
Supreme |
16-Jun-2011 10:12
Yells: "don't learn through life, learn to grow with life " |
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The central problem -- beyond Greece's running out of money again. http://finance.fortune.cnn.com/2011/06/15/greek-crisis-at-the-tipping-point/ Markets is putting 3 in 4 odds on a Greek default within  5 years and nearly 50-50 odds on defaults in Portugal and Ireland, it seems clear that many of those forces already have been unleashed. Unnervingly, it is starting to look like the answer may be yes. Policymakers this week failed yet again to take decisive action on Greece's debt crisis,  rattling markets and prompting billionaire George Soros to brand officials' failure to restructure Greek debt a " mistake." The latest sovereign bond selloff took the yield on 10-year debt to 18% in Greece, 12% in Ireland and 11% in Portugal. So much for the bailouts of those countries lifting the siege mentality. Potentially more troubling is the action, In Spain, 10-year yield remains a modest 5.55%, but the spread to German government bonds – a measure of the two issues' relative risk -- has risen by half a percentage point in two months. Spanish credit default swaps were by far the most actively traded over the past week, notes Gavan Nolan of data provider Market, with some $8.3 billion worth of  default bets being made – more than twice as much as was  wagered  on also-ran Italy. E.U. leaders are trying to agree on terms of further aid to Greece by next week's summit in Brussels. The deadlock isn't playing well in Athens, the austerity plans that came with the first bailout last year have failed to produce the promised results. Rioters attacked police there on Wed. Market tremors come at a time when it is looking like policymakers in Europe may have fallen disastrously behind the threat they have spent the past year trying to contain. Seeing the taxpayer bill mounting, German politicians are calling for private sector bondholders to accept longer repayment terms. Jean-Claude Trichet, head of the EU Central Bank, has been warning - debt maturity extension being pitched by German leaders is untenable because it could set off unpredictable forces in the markets. The risk now is that the time policymakers have been playing for has passed and a bank run like the ones seen in Ireland and Greece will now descend on other weaker economies, notably Spain. It is still possible that the Europeans can come to grips with this crisis before we end up in a replay of Lehman Brothers. But in a depressing  replay of 2008, for now it seems that the flavor of the day is wishful thinking. |
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TradeChancellor
Veteran |
13-Jun-2011 08:46
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they will never default, cause its financial suicide!..... | ||||
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teeth53
Supreme |
12-Jun-2011 23:59
Yells: "don't learn through life, learn to grow with life " |
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8:05AM: Chances are still slight, but economists surveyed by CNNMoney are a little more nervous.  More |
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teeth53
Supreme |
08-Jun-2011 23:57
Yells: "don't learn through life, learn to grow with life " |
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http://www.americaneconomicalert.org/news_item.asp?NID=1990998 Republicans flirt with brief U.S. debt defaulthttp://www.americaneconomicalert.org/news_item.asp?NID=1990998 Moody's sounds alarm over US debt limit, deficits
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teeth53
Supreme |
08-Jun-2011 23:44
Yells: "don't learn through life, learn to grow with life " |
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August 2, 2011 date. Isit worth taking a look back at the last time a political fight nearly ended in default?. Republicans flirt with brief U.S. debt defaultAn idea once confined to the fringe of the Republican party is seeping into its mainstream - that a brief default might be an acceptable price to pay if it forces the White House to deal with runaway spending.  Full  Article  |
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teeth53
Supreme |
07-Jun-2011 23:46
Yells: "don't learn through life, learn to grow with life " |
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Former Treasury Secretary Robert Rubin and other former Clinton administration officials reflect on the last time Washington was divided over a debt ceiling debate, and why this time it's different.By Tory Newmyer, writer FORTUNE -- Here's the scene from 1995: A default on the federal debt is looming young, newly-empowered Republicans on Capitol Hill are looking to use that threat as leverage to push their budget proposal a Democratic White House is straining against their demands for major reforms in the name of deficit reduction and the Treasury Secretary is broadcasting calm to keep the markets from spooking while trying, simultaneously, to impress the doomsday consequences of a default. Sound familiar? That was the last time the United States seriously flirted with a debt ceiling collapse. The scenario, of course, is replaying now, as policymakers brace for the next installment of a partisan showdown over the size and scope of government. The feds are on track to reach their $14.29 trillion borrowing limit in mid-May, and the Obama administration says juggling accounts can only buy time until July 8. After that date, the government will default on its debt -- a nightmare event that would gut investor confidence in U.S. bonds, send our borrowing costs soaring, and in all likelihood, precipitate another global financial meltdown. For mths, the White House has been working behind the scenes to avert that outcome by lobbying for a simple, so-called " clean" hike of the debt ceiling. But Congressional Republicans are intent on demanding that any raise come with at least some of their deficit-cutting priorities. With mkt watchers nervously tracking the face-off as the clock winds down. Largely forgotten now. Starting in the spring of 1995, that standoff on the debt limit actually framed what would become a much noisier fight over a govt shutdown, then-House Speaker Newt Gingrich (R-Ga.) and his allies in the new GOP majority were plotting to use a vote on the debt ceiling to force then  President Bill Clinton to adopt their seven-year balanced-budget plan. The issue had prompted partisan skirmishes over the years, but what appeared to distinguish this round was that Gingrich and others in the GOP were actually threatening to follow through and force the nation's first-ever default if the White House didn't agree to its terms. http://finance.fortune.cnn.com/2011/04/25/what-would-clinton-do/  (For more info - pls click) Isit worth taking a look back at the last time a political fight nearly ended in default?. Defaulting on BOND in unthinkable, it debt now stood at US$14.29 trillion (S$17.6 trillion)  a click away which can plunging U.S. into it ever worst finance disaster again.
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