2009-01-16 China News Highlights

[Skip to the end] Highlights China Central Bank Attacks Paulson’s ‘Gangster Logic’ China to Enact Stimulus Plan for Nine Industries, Minister Says China’s Economy Faces 2009 ‘Hard Landing,’ Fitch Says China not to blame for crisis: Experts   Couldn’t agree more! Let them export their brains out, while we sustain domestic demand with lower taxes/higher […]

2009-01-16 UK News Highlights

[Skip to the end] Gieve Says Bank of England Rate Cuts Not Yet Felt   They are being felt- the economy is getting worse, until the budget deficit gets large enough. UK Business Confidence At New Low, Fear Of Tough ’09 –Lloyds Brown to Pledge 200 Million Pounds to Limit Home Repossessions U.K. Stocks Rise […]

2009-01-16 EU News Highlights

[Skip to the end] The news just keeps getting worse over there. They are unlikely to make up for lost exports with domestic demand due to structural constraints on proactive fiscal policy. This put deflationary forces in place that drive relative prices down until exports resume. And with national government solvency in question, there is […]

2009-01-09 EU News Highlights

[Skip to the end] Highlights Trichet Sees ‘Significant’ Economic Worsening, II Magazine Says European Confidence Drops to Record Low; Unemployment Increases German Exports Drop 10.6% as Recession Hurts Orders German Ministry Seeks $136 Billion Fund to Ease Company Credit German bond sale’s fate signals trouble ahead ‘Bond failures’ are not all that uncommon in the […]

EU Daily | Europe Manufacturing Recession Worsens in December

[Skip to the end] Highlights Europe Manufacturing Recession Worsens in December Nowotny Says ECB’s Liquidity Measures Need Time to Take Effect Right, time to wait for a US fiscal response large enough to help the eurozone as well as the US. Merkel hints at German tax cuts Spain Manufacturing Contracted at Record Pace in December […]

China News

[Skip to the end] Highlights China eases rules on forex advances Domestics somehow caught short USD like the rest of the world? More measures to spur consumption and foreign trade(Xinhua) Help for both domestic consumption but exports as well- still pushing exports. China to Raise Export Rebates, Use Yuan to Settle Some Trade Pushing exports. […]

ECB’s Hurley Says Euro Economy to Contract Next Year

[Skip to the end] Several months back, the eurozone national governments fell into ‘Ponzi’ as growth prospects went negative. They now seem to be in that downward spiral of falling revenues, rising transfer payments, and rising credit default premiums. Without a fiscal response to restore growth this will only get worse, and the National governements […]

UK’s Brown is ‘angry’ with banks for financial crisis

[Skip to the end] Brown Is ‘Angry’ With Banks for Financial Crisis, Mirror Says Brown has it backwards, as most do. Lack of lending is a ‘good thing.’ It means ‘full employment’ can be sustained with much lower taxes for any desired level of government spending. Too bad they are all out of paradigm and […]

EU News Highlights 12-01-08

[Skip to the end] With no sign of a meaningful response, and, worse yet, no safe channel to get it done even if they wanted to, systemic risk in the eurozone continues to escalate. Highlights European Manufacturing Contracts More Than Estimated German Retail Sales Drop as Recession Damps Spending Spanish Manufacturing Contracted at Record Pace […]

UK Daily News Highlights

[Skip to the end] Highlights U.K. Home Prices Drop as Economy Nears `Abyss,’ Rightmove Says U.K. Mortgage Lending Declines to Lowest Since 2005, CML Says Economy in recession, says E&Y Darling to ‘reprioritise’ spending U.K. Deposit Fund Pays 3 Billion Pounds for ING Iceland Savers   Very constructive move here- front loading future public sector […]