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Wednesday, 15 July 2015

Greek Anxiety Could Rock World Markets, & Top Insights

Investors' Insights Comments 

We are not out of the woods just yet. If the deal is not ratified by the Greek parliament then does anybody know what plan B is? Do they even have one?

 Well whatever it is the opening sentence should read something  like this - " this is an unprecedented disaster" that should never have been taken to the brink. Bad news will not sit well with investors as Greece is not the only basket case out there - the defaulter line-up  is growing longer, they say, by the day..

Some think ( Ron Paul) that America too, is not that far behind, Not far behind whom?  -  CHINA?

So, may you live in interesting times 

Good Luck; Be Careful Out There

Make-or-break moment as Greek MPs prepare to vote on austerity proposals

Alexis Tsipras leaves his office on Monday.

Prime minister Alexis Tsipras, who has lost a key minister unwilling to support measures, must keep number of rebels to fewer than 40 to pass vote

Alexis Tsipras, the Greek prime minister, is preparing for a make-or-break parliamentary vote over the austerity measures Athens must take in exchange for a fresh bailout from its eurozone partners.
Image result for house of cards cartoonJust hours before the vote, Tsipras suffered a blow with the loss of a key minister, Nadia Valavani. The deputy finance minister resigned, saying it was “impossible” for her to keep serving in the government given the austerity measures to which Tsipras had agreed. She warned the nation faced a “crushing” capitulation at the hands of its creditors in Brussels.
Tsipras must keep the number of rebels within his own party below 40 in order to pass the measures required as part of the controversial rescue package agreed after marathon talks last weekend.

Ron Paul: Greece Today, America Tomorrow?

By Ron Paul

Parthenon ccThe drama over Greece’s financial crisis continues to dominate the headlines. As this column is being written, a deal may have been reached providing Greece with yet another bailout if the Greek government adopts new “austerity” measures. The deal will allow all sides to brag about how they came together to save the Greek economy and the European Monetary Union. However, this deal is merely a Band-Aid, not a permanent fix to Greece’s problems. So another crisis is unless we stop overspending on warfare and welfare and restore a sound monetary system. While most commentators have focused on Greece’s welfare state, much of Greece’s deficit was caused by excessive military spending. Even as its economy collapses and the government makes (minor) cuts in welfare spending, Greece’s military budget remains among the largest in the European Union.

Despite all the handwringing over how the phony sequestration cuts have weakened America’s defenses, the United States military budget remains larger than the combined budgets of the world’s next 15 highest spending militaries. Little, if any, of the military budget is spent defending the American people from foreign threats. Instead, the American government wastes billions of dollars on an imperial foreign policy that makes Americans less safe. America will never get its fiscal house in order until we change our foreign policy and stop wasting trillions on unnecessary and unconstitutional wars.

Excessive military spending is not the sole cause of America’s problems. Like Greece, America suffers from excessive welfare and entitlement spending. Reducing military spending and corporate welfare will allow the government to transition away from the welfare state without hurting those dependent on government programs. Supporting an orderly transition away from the welfare state should not be confused with denying the need to reduce welfare and entitlement spending.

China's economic growth beats forecast

World's second-largest economy grows by 7 percent in the second quarter amid dramatic fall on stock markets.

The latest figures keep China on track to meet the Communist Party's official growth target of 7 percent for this year [Reuters]China has released figures of its economic growth for the second quarter showing the country's economy has grown at a steady seven percent, its weakest performance since the global crisis but slightly better than expected.
The figure released on Wednesday was slightly above forecasts and came as the ruling Communist Party is struggling to reverse a stock market plunge that threatens to disrupt its economic reform plans.
The world's second-largest economy has seen sharp downturn in its economic growth raising fears of job losses. Since November, Beijing has cut interest rates four times and pumped money into the economy through spending on construction.
"There are good reasons to think that the latest figures are mirroring a genuine stabilisation of conditions on the ground," said Julian Evans-Pritchard of Capital Economics in a report.

I have maintained that oil should have corrected to around $70 in the fall of 2014, tied to U.S. production increases which at the time represented the price at which drillers would continue to add to supply. That price tied to cost reductions has probably been reduced to $60ish currently. But today, with the consensus oversupply widely quoted in the media as some 2 million barrels per day worldwide, it’s clear that if the numbers are correct below, the perceived oversupply wouldn’t exist at all. Suffice it to say prices would be at least at the point where production would need to be added, perhaps around $60-$70 per barrel, if not higher.

Asked what he had said, the minister told reporters: "There's no point in going to cabinet if you are going to express what you said in cabinet on national TV."
Shenhua Watermark is planning to construct an open-cut mine about 25km southeast of Gunnedah to extract 10 million tonnes of coal a year over 30 years.

The deal is based on fresh economic reform proposals submitted by Athens which bear a striking similarity to the creditors’ offer rejected by the Greek people in a referendum last Sunday – sparking claims that Prime Minister Alexis Tsipras has effectively executed a huge U-turn in order to avoid a catastrophic “Grexit”

German Chancellor Angela MerkelFive leading economists warn the German chancellor, “History will remember you for your actions this week.”

This post will be regularly updated to keep track of the Abbott Government’s broken promises and everything his Government does to hurt Australians. Each item will have a link to a source.

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