Today: FINANCIAL News, Money, Banks, Economic and Financial Crisis, Dec 27, 2011

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Dec 27, 2011

FINANCIAL News, Money, Banks, Economic and Financial Crisis, Dec 27, 2011

Investor Jim Rogers provides 2012 outlook for economy and financial systems
Examiner.com
Jim Rogers Interview on Australia Financial News Network As you can see, the outlook for markets in the West are not good for a recovery from the current spending and debt cycle that governments and central banks are using as policy for economies and ...
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IMF says expects January talks with Egypt
Reuters
Because of worsening economic conditions the country may now need as much as $15 billion to stave off a full-blown financial crisis, some economists say. Dozens of protesters have died in clashes with the army, the budget deficit has mushroomed, ...
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Nervous banks place record €411bn with ECB as eurozone woes continue
Telegraph.co.uk
Fearful banks parked a record €411bn (£344bn) with the European Central Bank (ECB) last night in a further sign that Europe'sfinancial institutions are becoming increasingly wary of lending to each other. Banks borrowed the money at the ECB's ...
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Telegraph.co.uk
Banks boost lending as economy slowly warms up
USA TODAY
By Tim Mullaney, USA TODAY By Karen Bleier, AFP/Getty Images file By Karen Bleier, AFP/Getty Images file After three years of Scrooge-like underwriting following 2008's financial crisis, bankshave turned on the spigot, boosting lending at annual rates ...
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USA TODAY
Modern Monetary Theory and Austrian Economy
CNBC.com
Perhaps under some version of the Austrian-optimum financial system—no central bank, gold coin as money, free banking or no fractional reservebanking—we wouldn't tend toward crisis. But that is not the system we have. The MMTers aren't engaged with ...
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Tough economic times ahead
Herald Sun
Dr Oliver is upbeat the ECB will eventually come up with a formula that meets the markets' approval and be enough to avert a financial crisis. But he says the key to Australia's economy next year will be whether China has a soft or hard landing. ...
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Experts' Top Stock Picks for 2012
Forbes
That's the question posed to 10 money managers, market experts and financialjournalists. And their lineup of stocks might surprise you. There are industrial giants, consumer names — even a European bank! Investor and CBS MoneyWatch columnist Dan ...
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Global banks face rough year ahead
Business Spectator
Although the US economy is growing, new regulations aimed at curbing the abuses that led to the 2007-2008 financial crisis, and new consumer protection rules, are cutting back business areas that were strong sources of pre-crisis banking profits. ...
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Eurozone crisis: recovery recedes, recession looms
Peninsula On-line
Growth was higher, recessions were few and far between, and there were nofinancial crises. Governments were able to pursue domestic policy goals without the constant threat from destabilising flows of hot money. Even so, its assessment of the current ...
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Trading places - wouldn't we like to be doing that now
Sydney Morning Herald
The past 12 months were supposed to see an acceleration in the recovery from the global financial crisis but have in fact been characterised by a slowdown in activity in the developed and developing parts of the world. Policymakers give the impression ...
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U.S. Stock Futures Fluctuate Before Release of Housing, Confidence Reports
Bloomberg
Financial shares had the only decline in the S&P 500 among 10 industries, dropping 0.4 percent as a group. The S&P 500 rose 0.2 percent to 1267.96 at 2:42 pm New York time, adding 5.2 percent in five days, the longest rally since Sept. 16. ...
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Bloomberg
Financial Stocks: Is the Financial Industry on the Ropes?
Kapitall Blog (blog)
The biggest issues of all come from the global economic slowdown – troubles in America, Europe, China and emerging markets do not bode well for hedge funds (third quarter returns were down 6%) and large financial institutions. Investment banks trading ...
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Kapitall Blog (blog)
KBN review of the year 2011
Huddersfield Examiner
THE meltdown in the eurozone was felt by households and businesses across Britain as the nation faced up to what Bank of England governor Sir Mervyn King called the most serious financial crisis “since the 1930s, if not ever”. ...
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Reflections From a Year of Tumult
Wall Street Journal
You can almost hear Dire Straits' "Money For Nothing" playing in the background. In banking, the storm of regulation that has been brewing since the end of thefinancial crisis will unleash its full force in the next few months. ...
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Hedge funds hammered in one of worst years on record
Telegraph.co.uk
The index has only shown negative returns on two previous years – 2002 (-1.5pc) and, during the apex of the financial crisis, 2008, when it plunged to -19pc. In London, Cripsin Odey, another star who predicted the collapse of the banks, ...
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Telegraph.co.uk
US Businesses Shop Europe
Wall Street Pit
By John Mason Dec 27, 2011, 12:16 PM Author's Website “As Europe struggles with its debt crisis, American businesses and financial firms are swooping in amid the distress, making loans and snapping up assets owned by banks there—from the mortgage on a ...
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The 'black money' problem is bigger than perceived!
Equitymaster.com
Popularly known as 'black money' laundering, the system of sending out illicit funds to foreign shores has hit developing economies like India the hardest in the past decade. As per the findings of Global Financial Integrity, an agency which promotes ...
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2012: Stocks up 10% — or Doomsday scenario?
MarketWatch
But is “America's Financial Doomsday” a more likely headline for 2012, as international bank analyst Martin Weiss predicts? IMFManaging Director Christine Lagarde has conceded the globaleconomy is in a precarious position. Here's what he sees in the ...
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MarketWatch
Rupiah Trading to Be Volatile in 2012
Jakarta Globe
Still, volatility in the market might continue into next year, said Aviliani, an economist at Institute for Development of Economics and Finance. Aviliani has forecast the rupiah to trade at 8500 to 9250 next year. That would be similar to this year's ...
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Jakarta Globe
A New Gold Standard? - OpEd
Eurasia Review
There is no reason why it should not return globally, and after the currentfinancial/banking crisis may well do so. 5. Is the gold standard really practical in today's age with instant electronic money transfers and the huge numbers offinancial ...
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Western banks hurting economy
Press TV
The only state in America that has a public bank is North Dakota. It was established in 1919. I want every state to have a public, state-owned bank during the height of the financial crisis in 2008. North Dakota not only was prosperous, ...
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Press TV
Going With The Flow
Resource Investor
Whereas nearly ten million ounce of the yellow metal flowed into such vehicles in 2010 (307+ tonnes), the tally for 2011 shows only 135 tonnes going into warehouses catering to them (this, according to Canada's Financial Post). ...
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US Dollar Replaced by China, Japan –Gold Positive!
Gold Seek
The central banks of the developed world have had to create new money to fill the holes left by the dropping value of financial assets and try to hold such moneyprinting at those levels or see inflation take off; there will, however, come a time when ...
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US Stocks Little Changed as Consumer Confidence Offsets Europe
BusinessWeek
Financial shares had the biggest decline in the S&P 500 among 10 industries, dropping 0.2 percent as a group. The Standard & Poor's 500 rose 0.2 percent to 1267.33 at 12:41 pm New York time. It added 5 percent over the previous four days....
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Wonkbook: On debt, the conventional wisdom vs. the markets
Washington Post (blog)
Starting in late 2008, as a response to our financial crisis, the Fed bought government and mortgage securities from banks on a very large scale. Bankreserves at the Fed rose from virtually nothing to more than $1.6 trillion. ...
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Bank Of America: An Attractive Play For A Diversified Long-Term Investor
Seeking Alpha
Book value is a good way to compare banks because most financial assets are marked-to-market or marked-to-model. Here is a comparison of Bank of America to other money center banks: Barclays (BCS), Citigroup (C), JP Morgan (JPM), and Wells Fargo (WFC). ...
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Rest in pieces: UK prepares for eurozone breakup
RT
“The banks would of course have problems. If there were to be a major default, if the euro collapsed, of course there would be less money going into those banks, but other financial assets would rise. And if there were to be a breakup of the euro, ...
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Notable Death of the Year: RIP Austerity Economics, 1921-2011
Huffington Post (blog)
Cameron's austerity budget had a shattering effect on the already-struggling Britisheconomy. His government's financial stability was downgraded five times during his first year in power and retail sales had fallen 2.5 percent. ...
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Ethan Harris: 2012 Weaker Than 2011 With 3 Major Headwinds: Europe, Tightening ...
Seeking Alpha
EH: A mild recession in Europe would have a mild impact on the US economy. In our baseline forecast we assume weakness in Europe reduces US growth in 2012 by about half a percent, but if the more dire, full blown financial crisis occurs in Europe it ...
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Liquidity And Asset Bubbles, But Only If The Dam Holds
Seeking Alpha
They care more about financial protection of their asset. They want the centralbank to establish a floor price, not just to protect their investment but also to insure that the borrowing government's cost of money does not rise above the threshold of ...
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FATCA Fallout: Multinational Banks Respond, Canada Enters Negotiations with ...
JD Supra (press release)
The old adage of "show me the money" is often wise advice. It's going to be very hard to get FATCA repealed when it's promising so much revenue to a federal government dealing with a severe economic crisis. Additionally, Congress passed this law as a ...
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Debt Becomes Intertwining Thread in 2011 Business Taopestry
HispanicBusiness.com
It started in Zuccotti Park, in New York's financial district, targeting Wall Street's role in the financial crisis. The protests spread to other cities, including Chicago, and were aimed at everything from the undue influence of corporations to high ...
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HispanicBusiness.com
US heads for renewed recession
Press TV
A demonstrated financial analyst says the United States is headed for a recession in 2012 because the so-called big banks have weakened their assets and lowered their credit value. Press TV has conducted an interview with Mike “Mish” Shedlock, ...
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Press TV
Three Gorges' acquisition of EDP stake is an injection of capital and ...
Macauhub
According to Diário de Notícias it is now clear that privatisations in the near future will not remain in Portuguese hands and the CTG deal shows that, “the results of Asia's economic and financial ascension on a global scale, have now reached ...
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Debt relief: A time for forgiveness
IBNLive.com
After more than four years of trudging through a global financial crisis, the road that seemed to lead to recovery is taking another turn for the worse. Most rich economies are bracing themselves for stagnation at best in 2012. The crisis has many ...
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IBNLive.com
2012 Macroeconomic Forecast: Expect Continued Stagnation Unless Drastic ...
Seeking Alpha
Concentrating their efforts on helping the big financial trading houses such as Goldman Sachs (GS) and AIG and naively assuming their resulting prosperity and trading profits will trickle down to the deposit-seeking commercial banks and on to their ...
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Economic pain not felt by members of Congress
Honolulu Star-Advertiser
Both linked high-level briefings that congressional leaders received on the 2008financial crisis and on health care to their purchase and sale of certain stocks. Members insisted that they never traded on information that was not public, ...
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Arvind Subramanian: Reform, even if by stealth
Business Standard
In the case of GST, some states will lose revenue; but the politicaleconomy of that might be relatively easy to address, for example, through offers of compensation to the current leadership of those states as proposed by the 13th Finance Commission. ...
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Business Standard
Outlook for the Economy
Morningstar.com
The issue isn't so much that a softening in European growth prospects and austerity could kill worldwide economic growth. Instead, the concern is related to the crisis's potential to wreck havoc on the worldwide financial system. ...
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SR690bn Saudi budget to spur growth
Arab News
King Abdullah has issued a royal decree that allows the finance minister to allocate money from the surplus of 2011 to pay for housing projects and increase the capital of Public Investment Fund to cover the cost of Haramain Railway that will link the ...
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City Incomes Sink Across Nation as Property Values Reflect Housing Crisis
The Ledger
Thomas Fitzpatrick, an economist at the Federal Reserve Bank of Cleveland who co-authored a recent study called "Municipal Finance in the Face of Falling Property Values," said many cities will have little choice but to make deep cuts. ...
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US Stocks Advance as Crude Oil Rises While Copper, Gold Slump
BusinessWeek
... notes to less than 0.2 percent for the first time since Bloomberg began collecting the data in 1990, after International Monetary Fund Managing Director Christine Lagarde said the world economy is in danger because of Europe'sfinancial crisis. ...
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Farming helps make Midlands 'a world apart'
Omaha World-Herald
But there are risks ahead for 2012, especially Europe's financial crisis and China's rate of growth. "If the euro goes and there's a banking calamity because of it, all bets are off on commodity prices," Babcock said. Uncertainty over international ...
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XE.com - UPDATE 1-IMF says expects January talks with Egypt
The International Monetary Fund (IMF) said on Tuesday it planned to meet with Egyptian authorities to discuss the country's economic problems but added that any funding would have to be based on benchmarks that had broad political support. ... News Providers: Thompson Financial, AP, XFN-Asia, Daily FX, Reuters... Because of worsening economic conditions the country may now need as much as $15 billion to stave off a full-blown financial crisis, some economists say. Dozens ...
XE Forex News
Euro zone IMF loan target in danger as UK ... - Yahoo! Finance
Finance: Euro zone ministers agreed on Monday to boost IMF resources by 150 billion euros to ward off the debt crisis and won support for more money from EU... Economic and Financial Committee, looks on during a news conference in Rome ... France hopes banks will use the money to buy euro zone bonds but with...
finance.yahoo.com/.../eurozone-pursue-crisis-action-fitch-011..

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