Rationalize Posted February 13, 2009 Report Share Posted February 13, 2009 Might be a bit early to say the Australian economy is forked, Rationalize. It looks like the most important stimulus package for the Australian economy is already working.............. ?The economy is bottoming," - When the property merkit falls, Oz has a recession. - When the comoddity cycle tips over, Oz has a recession [and a weak doolar]. We now have both at the same time. Regardless of the grobal econ [read: China] .. Oz is forked. We really screwed China on commod prices over the past 3-5 years, and I think they will remember that. Great time for China to swoop in and buy up aussie resource assets. Got mines? Link to comment Share on other sites More sharing options...
swordfish Posted February 13, 2009 Report Share Posted February 13, 2009 Estonia GDP fall 9,4 q/q. 3,5 y/y is that A LOT??? If you don't know where is Estonia: Link to comment Share on other sites More sharing options...
swordfish Posted February 13, 2009 Report Share Posted February 13, 2009 Ukraine may cause "domino effect" polish > english by google Economic or political "emergency" in Ukraine could result in "a knock-on effect in terms of economic difficulties throughout the European Union - warned the Vice-Chancellor of Austria Josef Proell. http://translate.google.pl/translate?prev=...l=en&swap=1 Link to comment Share on other sites More sharing options...
swordfish Posted February 13, 2009 Report Share Posted February 13, 2009 Ukraine may cause "domino effect" polish > english by google Economic or political "emergency" in Ukraine could result in "a knock-on effect in terms of economic difficulties throughout the European Union - warned the Vice-Chancellor of Austria Josef Proell. http://translate.google.pl/translate?prev=...l=en&swap=1 BTW I keep thinking about moving to Ukraine and buying some Land using dollars and euro. If there will be mega crisis there you could at the end make some money on it. The problem is that putin or other cornholio will prepare a law that they will rebuy the land from you for 1/10 of the value. that's the russia baby Link to comment Share on other sites More sharing options...
swordfish Posted February 13, 2009 Report Share Posted February 13, 2009 Have you heard about it???? Mexico spiral of violence In fights between drug cartels killed every day dozens of people. It is not surprising anyone already found the body on the streets without heads. This year promises to be a record - correspondence with Mexico. polish > english google http://translate.google.pl/translate?prev=...l=en&swap=1 Link to comment Share on other sites More sharing options...
swordfish Posted February 13, 2009 Report Share Posted February 13, 2009 ?Another Day, Another Scandal? as Irish Bank Executives Exit By Dara Doyle Feb. 13 (Bloomberg) -- Anglo Irish Bank Corp.?s decline last year cost the jobs of its chairman, chief executive officer and Ireland?s financial regulator. Today, it spelled the end for two top executives at rival Irish Life & Permanent Plc. Finance Director Peter Fitzpatrick and treasury head David Gantly resigned from Irish Life, in a controversy over transfers of funds between the two lenders, the Dublin-based company said in a statement today. The board rejected the resignation of Chief Executive Officer Denis Casey. http://www.bloomberg.com/apps/news?pid=206...id=azliTy0mlAD8 Link to comment Share on other sites More sharing options...
swordfish Posted February 13, 2009 Report Share Posted February 13, 2009 EMU region GDP Q4 -1.5% q/q ("anal" forecast -1,3%) Link to comment Share on other sites More sharing options...
DrStool Posted February 13, 2009 Report Share Posted February 13, 2009 I didn't know that there was a Russian enclave between Lithuania and Poland. Link to comment Share on other sites More sharing options...
swordfish Posted February 13, 2009 Report Share Posted February 13, 2009 I didn't know that there was a Russian enclave between Lithuania and Poland. Yes there is. pretty small but they have. They use is for troops and for economic exchange. Link to comment Share on other sites More sharing options...
swordfish Posted February 13, 2009 Report Share Posted February 13, 2009 The Disasters Ahead What happens if Russia's and China's economies and governments lose their footing? http://www.newsweek.com/id/184306?from=rss European finance ministers to attack Alistair Darling over sterling's slide European finance ministers are planning to round on Alistair Darling and tell him to bring the pound back under control, in what many fear could represent the opening salvo of a "currency war". http://www.telegraph.co.uk/finance/economi...ings-slide.html High debt levels endanger Britain's AAA credit rating for first time http://www.telegraph.co.uk/finance/comment...first-time.html Moody's said the UK and the US would see their ratings come under strain "because of a shock to their growth model and large contingent liabilities". Both countries have relied heavily on unsustainable credit booms to fuel growth, but Britain faces added difficulties as a hub of global finance at a time when banks are out of favour.The economic fall-out from this broken model may cause "lasting impairment", making it harder for both the US and UK governments to raise the tax revenues needed to restore health to public finances. Britain in particular will be watched to see if it can adjust to a "post-crisis world order". Moody's said the US "exhibits an unrivalled capacity for innovation" and is likely to bounce back quickly. The UK has seen more slippage but still has an "adequate reaction capacity to rise to the challenge". Eastern Europe: On Crisis Watch http://www.rgemonitor.com/euro-monitor/255...on_crisis_watch my comment to Eastern Europe tensions: Poland is next in the line because all countries on the list are already down. If Poland hold, nothing will happen to Czech etc. Now, speculators attack Polish Złoty (PLN - zloty). Check this huge moves!!! USDPLN CHFPLN (the most common for mortgage in Poland) but thanks to low LIBOR the rates are almost the same. EURPLN more over there is a HUGE affair in Poland. Bank in Poland (80% are from foreign countries) sold options to hedge exporters/importers from swings. Unfortunately there were many speculators (this firms) + they were VERY!!! risky. WHY?? Check the graph above - Because PLN was going stronger and stronger since 2002 everyone was counting on much stronger PLN. The options were sold by JPM and MS (distributed by bank foreign bank in Poland like ING group, Fortis, AIG, Santander, Citibank, GE money bank,etc). Now, many polish well know firms are going bankrupt because they were on the one side of the swing - (strong PLN). How??? they were greedy and instread of hedging they bet on one side (selling many calls, that gives them cheaper puts, like 4 calls to one put) Everyone want to crucify JPM&MS. They even come to Poland for the discussion with Prime Minister (JPM&MS europe CEO) Well, Firms claims that they didn't know about the risk buhahahah But when they earn money (stron PLN since 2002) noone complain. They were firms like/aka Porsche making 300% of profit based on currencies, not based on selling product. Now there is a MESS... Link to comment Share on other sites More sharing options...
curious Posted February 13, 2009 Report Share Posted February 13, 2009 I didn't know that there was a Russian enclave between Lithuania and Poland. http://en.wikipedia.org/wiki/Kaliningrad Link to comment Share on other sites More sharing options...
swordfish Posted February 13, 2009 Report Share Posted February 13, 2009 Interesting: Norwegian Oil Firm Goes to Energy's Last Frontier online.wsj.com/article/SB123448074396979659.html?mod=rss_europe_whats_news Link to comment Share on other sites More sharing options...
DrStool Posted February 13, 2009 Report Share Posted February 13, 2009 http://wallstreetexaminer.com/2009/02/13/p...s-update-21309/ Link to comment Share on other sites More sharing options...
K Wave Rider Posted February 13, 2009 Report Share Posted February 13, 2009 Euro, Swiss unable to get anyhting goin' overnight....still highly vulnerable to crash type move developing out of huge wedgie....of course, it could break the other way outta da wedgie too... relief for the non-scalpers should be comin' soon... Silver starting to drift a bit lower after smashing into the 200/900 wall and stalling.... Link to comment Share on other sites More sharing options...
K Wave Rider Posted February 13, 2009 Report Share Posted February 13, 2009 If they gonna turn 'em back down, overnight high is a likely spot for the turn.... Link to comment Share on other sites More sharing options...
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