August 24, 2012
Trends in Interest Rates on National Debt Suggest Currency Crisis is Coming
How long can the trend last?
Hard hitting global and local news
Hard hitting global and local news
How long can the trend last?
Flash China Manufacturing PMIâ„¢ at 47.8 (49.3 in July). 9-month low. Flash China Manufacturing Output Index at 47.9 (50.9 in July)
Indiana’s Voucher System Doubles, Public Schools Fight Back With Billboard Ad Campaign; Three Sure-Fire Ways To Improve Schools Indiana has the nation’s largest school voucher system and it is about to double in size. In response, Indiana public schools wage unusual ad campaign .
CBO Expects 2013 "Fiscal Cliff" Recession Because of Automatic Spending Cuts and Tax Hikes Automatic tax hikes and spending cuts will go into effect in 2013 causing a "fiscal cliff" recession according to the CBO. Massive spending cuts and tax hikes due next year will cause even worse economic damage than previously thought if Washington fails to come up with a solution, Congress’ budget referee said on Wednesday. The Congressional Budget Office said failure to avoid the so-called "fiscal cliff" of expiring tax cuts and automatic spending reductions would cause U.S
Spain Predicts 4.3% Increase in Tax Revenues, Actual Results are 3.5% Drop; Proposed "Solution" is More Tax Hikes Spain has been devastated by round after round of tax hikes.
For example, a Google-translated headline on Welt Online reads ECB chief demonstrates German banker .
Robots to Rule the World? Taking All Jobs?
Bloomberg reports Bundesbank Widens Euro Rift With Criticism of ECB Bond Plan . Germany’s Bundesbank stepped up its criticism of the European Central Bank’s plan to embark on potentially “unlimited†government bond purchases, widening a rift over how to tackle the sovereign debt crisis.“The Bundesbank holds to the opinion that government bond purchases by the Eurosystem are to be seen critically and entail significant stability risks,†the Frankfurt-based central bank said in its monthly report today. The new program “could be unlimited†and decisions about potentially far greater sharing of solvency risks should be taken by governments or parliaments, not by central banks, it said
Here is a link to a translated article in Der Spiegel: ECB is planning to challenge interest rate speculation The European Central Bank (ECB) is considering to establish in its future bond purchases interest rate levels for each country. Thus, they would state papers of the crisis countries always buy when interest rates exceed a certain impact on their yields German Bunds.
The Eurozone Cannot Possibly Survive Intact.