Posts Tagged ‘Debt’

A Grim Reminder Of The EU Debt Crisis

The European sovereign debt problems have largely disappeared from the headlines in recent weeks, but time and again we see reminders that the problems are far from over. Last week, Ireland announced that it will step up its program to reduce its deficit, through spending cuts and tax hikes, from 32 percent of GDP to 3 percent by 2014. In the Rockwell Trading report, the revised budget calls for 8 billion euros in savings next year, roughly twice as aggressive as originally planned.

But without clearer details of where the savings will come from, investors aren’t buying the announcement. They don’t see it as a reaffirmation of Ireland’s commitment to cut debt and a faster solution to the country’s debt woes, but rather as a sign of desperation to combat an out-of-control deficit problem. The yield on 10-year Irish bonds soared to 7.6 percent, widening the spread between Irish and benchmark German bond yields to a record. This has caused the European Central Bank to buy Irish bonds to help stop their slide.

The borrowing costs in Greece, Spain, and Portugal, other members of the PIIGS countries, are also spiking again. The spread between Portuguese and German bond yields are also at a record 4.52 percentage points, not a great sign for Portugal’s upcoming bond auction of as much as 1.25 billion euros later this week. Even with a 750 billion euro in bailout funds committed by the European Union and the International Monetary Fund, investors remain very wary.

Ireland isn’t in as bad shape as Greece was because it has a decent amount of cash on hand, but the latest episode serves as a grim reminder that investors have jitters when it comes to the EU debt problems. Any sign of weakness will revive fears and could spark an exaggerated negative reaction in asset markets, creating a snowball effect.
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Ahead of the Group of Twenty (G20) summit in Seoul later this week, the rhetoric between the U.S. and China over the prickly trade and exchange rate issues appears to have toned down. With the House of Representatives having passed a decisionbar bill to open the door for potential increases in duties on Chinese imports and China taking a hard-line approach, it looked like there could be some fireworks during the summit. However, both sides seem to have taken a step back.

A softening of China’s previous warning about the potentially damaging effects of the Fed’s quantitative easing on emerging markets (that include China itself), China’s Vice Finance Minister Wang Jun described the Fed’s planned $600 billion debt purchase as something that could contribute “tremendously” to global growth. Still another authority, Vice Finance Minster Zhu Guangyao repeated China’s concerns that the additional $600 billion in quantitative easing will provide a “shock” to the global economy and increase money flowing into emerging countries, potentially creating asset bubbles. As China’s global importance continues to rise, there will be more finger pointing as each side accuses the other of pursuing selfish policies that damages other economies.

While most of its developed nation peers struggle with deficit woes, Australia is expected to forecast a surplus of approximately $3 billion (Australian Dollars) in the 2012-2013 fiscal year (starts on July 1, 2012), according to a leading Australia business newspaper. Even with a minor pullback, the Australian dollar, or the Aussie, remains above parity with the greenback — its highest level since it began trading freely against the U.S. dollar nearly 30 years ago. According to government officials, Australia has little exposure to Europe. Expect Australia to remain a rare bright spot among developed countries.

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The Money Philosophy

Today we are going to talk about money. Let’s get right to the point. You need it, I need it, so let’s go make it. If you notice this site it is a Dot W.S. domain. That’s because you need to start selling this concept, the Dot W.S. concept. It has worked for many individuals and it will work for you. Act now, ask questions later. The first thing you need to do is to be able to afford $10 per month for the rest of your life. Pencil that number into your budget. Even a financial derelict can figure out a way to incorporate that expense into their monthly budget. It won’t be an expense for long though, just stick it out and you will see why in the future and be glad you did. That is the first step to financial freedom. There are other systems that exist but we are going to stay focused on this one. In a little bit I will give a blueprint to follow but first I need to plant these words and instructions into your mind so they never ever come out and you will be a money making philosopher and will be able to help others  do the same. We are a team and that’s how we will succeed together.  Step 1 go sign up here, click this link and fill out your information  -> http://www.philosophers.ws/makemoney

After you fill the information out and sign up we will guide you all the way home to financial freedom. We will all get there together, just don’t give up and take action now. A good friend of mine before he passed on to the next life said the only thing that distinguishes a conqueror from a slave is the action you take right now! Another version how we can interpret that message is the only way we can be set free in this life from a material perspective is to make money. Money = Freedom, Money = Time. If you have any debt right now you are a slave. We live in a highly sophisticated economic prison system. The only way out is to make money. God bless America! We live in the land of opportunity and the Internet is the only chance that you will have in this lifetime to take charge of your destiny, unless you are an exception to the rule. The Internet is the ultimate leveler of power. If knowledge equals power, than what is the Internet full of? I am not going to answer that question for you. You and only you can make that decision right now. So what are you waiting for, go do it now! Break the chains of economic slavery today. The link again is -> http://www.philosophers.ws/makemoney

If you are still here on this site and have not signed up yet and you are not convinced, I will explain a few key elements that are necessary for this philosophy to work. The first thing you need to have is a system that everyone can afford. To make this system work exceptional, you need an information based product that is intangible. Intangible is something you can’t touch. This means you don’t need a big warehouse to store all of your inventory. You are in the service and information business. The other key element is something that has a duplication system. This means everyone can do this if they just follow the system blueprint. Again, don’t think to hard about this one, you will see why this will work in the future, for now go sign up here -> http://www.philosophers.ws/makemoney

We are with you all of the way! We have committed team members that are dedicated to your success! It is time for liberation! For all of the mockers and the losers. You will reap what you sow. Here comes the reapers. Now for all of you believers who have caught the vision and have the imagination which even Einstein said was more important than knowledge, that link again is right here -> http://www.philosophers.ws/makemoney