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Stimulus and Money Printing to Create New Oil Bubble
Is oil at a turning point? Get ready bubble buyers as the next big oil bubble is getting inflated once again. There is 1.1 trillion dollars of global economic stimulus and a global interest rate imbalance between the United States and Europe and this is creating the same type of macroeconomic conditions that caused oil to spike up to $147.00 early in this economic crisis. Forget about supply and demand for the moment because they are just a passing afterthoughts. The commodity markets seek to adjust to what the UK Prime Minister calls a ‘New World Order”. A new…
7Apr2009 | The Real Deal | 1 comment | ContinuedU.K. May Need IMF Bailout
Britain may have to go to the IMF for a huge financial bailout, the influential investor George Soros warns today.
(snip)
Mr Soros – speaking days after an auction of government bonds failed for the first time in 14 years, ringing alarm bells about Britain’s ability to fund its growing debts – said that Gordon Brown might have to go begging for billions of pounds in international aid. He also warned that next week’s G20 summit in London was the last chance to avert a full-scale depression that could prove worse than that in the 1930s.
“You have a problem that…
30Mar2009 | The Real Deal | 0 comments | ContinuedGermany Officially Enters Recession, Eurozone Likely to be Next
Germany has officially plunged into a recession, as the nation’s Federal Statistics Office revealed yesterday (Thursday) that Europe’s largest economy contracted by 0.5% in the three months through September.
The data is worse than many analysts had expected and follows a 0.4% decline in the second quarter. The economy last contracted this much over two consecutive quarters in 1996, making this Germany’s worst recession in more than a decade.
The slide may worsen, too, as German companies are struggling with dwindling export orders.
“If you think today’s numbers are already bad, just wait for the next quarter,” ING Financial Markets’ Carsten…
14Nov2008 | Money Morning | Comments Off | ContinuedChina Stimulus, Troublesome Retail Earnings Point to Escalating Global Economic Woes
China unveiled yesterday (Sunday) what it described as a “massive” economic stimulus package – a planned capital infusion of $586 billion that it plans to use to reverse its slowing growth, to loosen credit and to offset slowing global growth by stoking domestic demand.
Xinhua, China’s state-run news agency, said yesterday that the stimulus package represents “a shift long advocated by analysts of the Chinese economy and by some within the government. It comes amid indications that economic growth, exports and various industries are slowing.”
The decision was announced yesterday by the State Council after Premier Wen Jiabao presided over an executive…
10Nov2008 | Money Morning | Comments Off | ContinuedGlobal Investing Roundups
IMF Issues Bleak Forecest; McDonald’s Magic Earnings; Boeing’s Tailspin; ConocoPhillips Enjoys Oil Cushion; Wachovia’s Claim to Infamy; AT&T’s Expensive iPhone Habit; S&P 500’s Historic Slump; Financial Crisis Summit
- The International Monetary Fund (IMF) said yesterday (Wednesday) that U.S. economic growth would be flat or negative for the rest of 2008, and into 2009. In Canada, growth for 2008 will be about 0.3% but is projected to rise to 1.7% for 2009. Latin America and the Caribbean regions will grow at a 3% rate the IMF said.
- McDonald’s Corp. (MCD) said yesterday (Wednesday) that third-quarter profit jumped 11% with same-store sales, or sales at…
Global Investing Roundups
Retirement Plans Lose $2 Trillion; eBay Sells Out Workforce; Eli Settles Marketing Dispute; Morgan Stanley Gets OK on Capital Infusion; IMF Says Rough Economic Times Ahead; Wachovia Split?
- American retirement plans have lost as much as $2 trillion, or 20% of their value, in the past 15 months, Peter Orszag, head of the Congressional Budget Office estimated yesterday (Tuesday). "Some people will delay their retirement. In particular, those on the verge of retirement may decide they can no longer afford to retire and will continue working," Orszag said.
- EBay Inc. (EBAY) said yesterday (Tuesday) that it will cut 10% of its work force…
IMF Warns of Global Economic Slowdown
By Jennifer Yousfi
Money Morning
Global growth will slow to 3.7% in 2008, the International Monetary Fund announced yesterday (Wednesday), in its most recent World Economic Outlook.
There is also a 25% chance of a global recession should economic growth fall below 3% in 2008 or 2009.
The United States will largely be responsible for worldwide deceleration due to the steep correction in the U.S. housing market and continued fallout from the credit crisis, which started in the subprime sector and has spread throughout the financial system.
The IMF forecast the U.S. economy would slip into a recession in 2008, with only a slight…
10Apr2008 | Money Morning | Comments Off | Continued
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