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Common Plans, Coordinated Lies, and G7 Currency Statements Inquiring minds are investigating an amusing set of lies from the G7. At the top of the list is Group of 7 Will Let Market Decide Currency Values . Seven major developed countries including the United States and Germany pledged on Tuesday to let foreign exchange markets determine the value of their currencies
In addition to stock market cheerleading and targets from Japan’s economy minister, Yen Weakens as Candidate for Bank of Japan Promotes Easing . Japanese stock futures rose and the yen weakened after Haruhiko Kuroda, a potential contender for Bank of Japan chief, said additional monetary easing can be justified this year.“If we do see a BOJ Governor of Kuroda’s calibre, the dollar-yen could well punch through 95 and would head to 100 very quickly,†said Evan Lucas, Melbourne-based market strategist at IG Markets Ltd., a provider of trading services.
Thus one should not be surprised by this can-kicking idea: Republicans Propose Job Freeze to Avert Defense Cuts Republican members of the House and Senate Armed Services committees revived a proposal to avert automatic spending cuts by reducing the federal workforce through attrition and freezing congressional salaries. The legislation would save $85 billion through Sept
Read the original: McDonald’s Global Sales Slump 1.9 Percent; Price, Competition, Jobs to Blame
Looking for evidence of rebalancing in Europe? Don’t look here: German 2012 trade surplus soars despite weak December reports Germany’s trade surplus was the second highest in more than 60 years in 2012, pointing to an underlying resilience in Europe’s largest economy, although both imports and exports disappointed in the last month of the year
Reuters reports Record low current account surplus shows Japan’s challenges Japan posted its smallest annual current account surplus on record in 2012 as exports weakened and energy imports grew, a signal to Prime Minister Shinzo Abe that economic revival needs more than just a weaker yen and extra spending. The current account surplus is likely to continue shrinking as energy imports rise due to the closure of nuclear power plants and as Japanese exporters lose out to more competitive Asian rivals, economists say. Japan’s current account surplus was 4.7 trillion yen ($50.4 billion) in 2012, Ministry of Finance data showed, a figure that seems impressive.
Visit link: Germany Rebounds but … France Economic Implosion Accelerates; Record Decrease in Service Employment in Italy
View original post here: Boehner Opposes Delay in Spending Cuts Without Reforms; House Passes Bill Requiring Balanced Budget Plan From…
More: Making the Case for 100% Automation with Zero% Efficiency
More: Making the Case for 100% Automation with Zero% Efficiency