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Taken from: 800,000 Protest in Brazil Over a 10-Cent Hike in Fares and the High Cost of Staging the World…
EU Twists the Screws on Spain With Inane Requests Posted by Michael Shedlock at 11:33 AM Disclaimer: The content on this site is provided as general information only and should not be taken as investment advice. All site content, including advertisements, shall not be construed as a recommendation to buy or sell any security or financial instrument, or to participate in any particular trading or investment strategy.
Continued here: China Manufacturing PMI Hits Nine-Month Low as Output and New Orders Decline
NPR reports European Car Sales Hit 20-Year Low For May . Country by Country Details Passenger car sales dropped by 5.9% from May 2012 in the 27-country European Union to 1.042 million units, the lowest level since May 1993 German car sales dropped 9.9% in May, Italy was down 8%, France down 10.4%, Spain down 2.6% PSA Peugeot-Citroen, Renault, Ford, General Motors and Fiat all suffered double-digit declines in May Volkswagen had a 2.8% drop in brand sales and 5.9 percent decline for the group
The Financial Times reports Brazil declares new ‘currency war’ Brazil has declared a fresh “currency war†on the US and Europe, extending a tax on foreign borrowings and threatening further capital controls in an effort to protect the country’s struggling manufacturers. Guido Mantega, the finance minister who was the first to use the controversial term in 2010, said the government would not “sit by passively†as developed nations continue to pursue expansionary monetary policies at the expense of Brazil.“When the real appreciates, it reduces our competitiveness
Continue Reading: Epic Glut of Graduates Depresses Wages; Fake Job Offers Taint Hiring Statistics
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Read the article: Do You Trust Banks? Country by County Comparison