Wednesday, December 1, 2010

More Catastrophic Debt: Feds To Bail Out Europe

The United States would be ready to support the extension of the European Financial Stability Facility via an extra commitment of money from the International Monetary Fund, a U.S. official told Reuters on Wednesday.

"There are a lot of people talking about that. I think the European Commission has talked about that," said the U.S. official, commenting on enlarging the 750 billion euro ($980 billion) EU/IMF European stability fund. "It is up to the Europeans. We will certainly support using the IMF in these circumstances."

"There are obviously some severe market problems," said the official, speaking on condition of anonymity. "In May, it was Greece. This is Ireland and Portugal. If there is contagion that's a huge problem for the global economy."

The remarks foreshadow a visit to Europe this week by a U.S. Treasury envoy who is expected to visit Berlin, Madrid and Paris to hold talks on the ramifications of the debt crisis.
More Here..



The Danger of a Global Double Dip Recession Is Real 

The deficits we face are a dagger pointing at the heart of the American economy

13 comments:

  1. BBBWWWWAAAAHAHAHAHAHA A GLOBAL DOUPLE DIP RECESSION, THE WORLD HAS BEEN IN A DEPRESSION SINCE AT LEAST 2008, THESE JOKERS ARE SO SAD, IT IS ALMOST FUNNY LISTENING TO THEIR PROPAGANDA.

    ReplyDelete
  2. “The economy seems to be regaining some momentum,” said Russell Price, a senior economist at Ameriprise Financial Inc. in Detroit. “Inventories are still in pretty good shape, so any gains at the consumer level should translate into improving activity at the manufacturing level.”

    Risks to global growth remain, including the European debt crisis and continued weakness in U.S. housing. Real-estate prices in 20 U.S. cities rose in September at the slowest pace in eight months, according to the S&P/Case-Shiller index.

    The housing concerns aren’t derailing manufacturers. The ISM’s factory index was 56.6 in November, little changed from the five-month high of 56.9 in October. The figure compared with a median estimate of 56.5 in a Bloomberg News survey of 83 economists. Readings greater than 50 signal growth.

    Global Gains

    A gauge of U.K. manufacturing growth based on a survey of companies by Markit Economics and the Chartered Institute of Purchasing and Supply rose to 58 from 55.4 in October. The median forecast of 24 economists in a Bloomberg News survey was for 54.7. A measure above 50 also indicates expansion.

    In Europe, manufacturing expanded at the fastest pace in four months in November, led by Germany, the region’s largest economy. A gauge of manufacturing in the 16-nation euro area rose to 55.3 from 54.6 the prior month, London-based Markit Economics said today.

    China’s manufacturing grew at a faster pace for a fourth straight month in November. The Purchasing Managers’ Index rose to 55.2 from 54.7, China’s logistics federation said on its website today.

    The Chinese picture of stronger manufacturing and climbing prices was repeated across Asia in reports released today by HSBC and Markit for India, South Korea and Taiwan.

    ‘Going Gangbusters’

    India needs to keep tightening monetary policy, HSBC economist Leif Eskesen said, commenting on PMI data showing the nation’s fastest manufacturing growth in six months. Taiwan had its first expansion in four months and South Korea, too, switched from a contraction.

    Dow, the world’s second-biggest chemical company, said yesterday that fourth-quarter sales are matching those of the prior three months, led by demand for materials used in electronics.

    Electronics demand is “going gangbusters,” and commodity plastics and chemical sales are still strong, Bill Weideman, chief financial officer, said in an investor presentation. “Overall demand is very solid.”

    General Motors Co. is among those companies boosting production and hiring. The maker of the Chevrolet Volt gasoline- electric car plans to add 1,000 engineers in Michigan to help expand the automaker’s lineup of electric-drive vehicles. The hiring will increase GM’s workforce of electric-vehicle engineers by 50 percent to about 3,000, said Rob Peterson, a spokesman for the Detroit company.

    “Globally, the manufacturing sector continues to lead in most of these economies,” Norbert Ore, chairman of the U.S. ISM factory survey, said in a conference call from Atlanta. “It apparently has the ability to continue for the foreseeable future.”

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  3. “The economy seems to be regaining some momentum,” said Russell Price, a senior economist at Ameriprise Financial Inc. in Detroit. “Inventories are still in pretty good shape, so any gains at the consumer level should translate into improving activity at the manufacturing level.”

    Risks to global growth remain, including the European debt crisis and continued weakness in U.S. housing. Real-estate prices in 20 U.S. cities rose in September at the slowest pace in eight months, according to the S&P/Case-Shiller index.

    The housing concerns aren’t derailing manufacturers. The ISM’s factory index was 56.6 in November, little changed from the five-month high of 56.9 in October. The figure compared with a median estimate of 56.5 in a Bloomberg News survey of 83 economists. Readings greater than 50 signal growth.

    ReplyDelete
  4. A gauge of U.K. manufacturing growth based on a survey of companies by Markit Economics and the Chartered Institute of Purchasing and Supply rose to 58 from 55.4 in October. The median forecast of 24 economists in a Bloomberg News survey was for 54.7. A measure above 50 also indicates expansion.

    In Europe, manufacturing expanded at the fastest pace in four months in November, led by Germany, the region’s largest economy. A gauge of manufacturing in the 16-nation euro area rose to 55.3 from 54.6 the prior month, London-based Markit Economics said today.

    China’s manufacturing grew at a faster pace for a fourth straight month in November. The Purchasing Managers’ Index rose to 55.2 from 54.7, China’s logistics federation said on its website today.

    The Chinese picture of stronger manufacturing and climbing prices was repeated across Asia in reports released today by HSBC and Markit for India, South Korea and Taiwan.

    ReplyDelete
  5. The above were real meaningful news....

    ReplyDelete
  6. Manufacturing grew in November? ITS CHRISTMAS! Stuff gets manufactured in the HOPES that stores sell the junk! Its a false news release so the masses can buy the garbage and go deeper into DEBT! The money is free so the companies just build junk praying the dummies buy it. After Christmas they will come out with an article that "Unexpectedly consumers didn't buy as much as anticipated".

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  7. 3:41

    "Unexpectedly consumers didn't buy as much as anticipated".

    In case you missed the news, Consumer spending is 6% more compared to last year.

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  8. 4:53,

    The 6% increase was Black Friday sales.

    The question is will the consumer spending continue...The public will find out in January.

    ReplyDelete
  9. whos posting the bs
    sales?
    las vegas mortgages are 80 percent underwater.
    uenployement is at 18 percent shadow stats
    more like 23 percent.
    gold is at an all time hi going hier.
    automotive sales are a joke gm was bailed out billions then handed a measele 5 billion back.
    food went up gas went up.
    italy is on the verge of collapse now.
    i am happy go lucky person.
    thats how i know we are fukked like a whore.
    oh yea heard today goverment has spent 60 percent on infastructure and only 20 percent actually was spent on it.
    buy gold and food. wallstreet can suck my balls.
    banks and the fed can join in.
    i hate thier guts they are guilty of treason!!
    and should be jailed.

    ReplyDelete
  10. A Federal Reserve note is an IOU. Meaning we owe the Federal Reserve for being forced to used the dollar as a legal tender. Only for the population to use to purchase foreign products (Mexico, China, etc..) Bottom line we are slaves who have never been paid in our lifetime. Gold, silver, oil, gas, food and all commodities are going up in prices. Because the dollar is not backed by any commodities it’s been and still is artificially inflated. (Enter QE2!) Equals Hyper Inflation on stock market prices (Artificially inflated rallies on Wall Street!) and all commodities! Hyper deflation on all wages and income means a lower standard of living for the population at large.(Enter High unemployment the real number is 23% and rising) Banks favor a debt slave public. They will always refinance because they can always make money of the interest off anyone’s debt. Globalization was a means to an end to the old system. Globalization was only supposed to last for 20 years. 20 years was the time that the powers that be (European Central Bankers who control the Federal Reserve) needed to set up an electronic infrastructure to control the United States and all of the population. The internet, cell phones, GPS, RFID chips, surveillance cameras etc. The result is a controlled break up of the United States and its financial system. The United States shall be consolidated under a new global financial system along with other nations. Fear is their weapon of choice controlled fear. False flag terrorism, The TSA (Total Sexual Assault!) at the airports. Operation Viper is government check points at all bus and train stations. Predator drones at the boarders of Mexico and Canada. The fake wars in Iraq, Afghanistan and soon Iran and North Korea. Endless fake news about fake terror threats against the United States to keep the population terrified and in check! We are living in a new system of control. The Matrix has been upgraded! Nothing is by accident or chance everything is by design and under control by the powers that be. Corruption has become absolute from the highest levels of government all the way down the food chain. War has been declared on the average American citizen. The Patriot act was a bill to end the US Constitution as we know it. September 11, 2001 was the fall of the United States as we know it. Our nation has been taken over by the global financial power brokers of the world. The new world order, order out of chaos (Check the back of the dollar bill it’s in Latin!). Control out of fear and intimidation on the population at large.

    ReplyDelete
  11. BoA will be bank that is going to be exposed on Wikileaks according to CNBC in January 2011. If you have any account with BoA, get out now and move your money to a small account. The stock of BoA will be delisted by the end of 2011. GET OUT NOW

    ReplyDelete
  12. Why are USA Taxpayers bailing out European Banks?
    ------------------------------------------------
    "Two European megabanks -- Deutsche Bank and Credit Suisse -- were the largest beneficiaries of the Fed's purchase of mortgage-backed securities," The Huffington Post's Shahien Nasiripour reported.

    See:
    http://www.rawstory.com/rs/2010/12/data-show-foreign-banks-biggest-recipients-fed-money/


    Federal Reserve's 'astounding' report: We loaned banks trillions
    ----------------------------------------------------------------
    In one program alone the Fed doled out nearly $9 trillion in funds to borrowers such as Morgan Stanley and Merrill Lynch, largely at interest rates below 1 percent.

    See:
    http://www.csmonitor.com/USA/2010/1201/Federal-Reserve-s-astounding-report-We-loaned-banks-trillions

    ReplyDelete
  13. for many reasons I think 2011 will be a big and telling year, maybe they won't agree to fund more to the IMF(of US tax dollers by extension), should be intersting all around

    lol..party's got to end someday, or else currency will become just paper. Everything ends eventually

    ReplyDelete

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