Daily Digest 7/30 - Gold And Euro Hedge Higher, Asia Readies For QE3 Coaster
“The current levels of interest rates on sovereign debt markets don’t correspond to the fundamentals of the Spanish economy,” said a joint statement issued yesterday by German finance minister Wolfgang Schaeuble and Spanish economy minister Luis de Guindos.
Here in the UK, the economy shrank by 0.7% in the second quarter – the third consecutive quarterly fall and the steepest since Q1 2009 – according to preliminary GDP estimates published Wednesday.
The 123,000-square-foot facility at 4900 Puerto Rico Ave. NE is designed to help bridge that gap. The facility over time will double the current food bank’s capacity, with more refrigerated and freezer space for meat, produce and dairy products, a roomy teaching kitchen for nutrition classes and space for volunteers to pack more “weekend bags” of food for children to take home from school.
Asia readies for QE3 roller coaster (cmurray)
China also looks to be getting serious about getting stimulus underway. Last week came the unexpected news that the city of Changsha has launched an 829 billion yuan ($130 billion) investment plan, raising expectations other localities will follow suit.
Idlib Province, the northern Syrian region where resistance fighters control the most territory, is the prime example. In one case there, after jihadists fighting under the black banner of the Prophet Muhammad staged significant attacks against Syrian government targets, the commander of one local rebel military council recently invited them to join. “They are everywhere in Idlib,” said a lean and sunburned commander with the Free Syrian Army council in Saraqib, a strategic town on the main highway southwest from Aleppo. “They are becoming stronger, so we didn’t want any hostility or tension in our area.”
A Big Beast To Tackle (jdargis)
At first glance, Mr Obama’s critics have ample ammunition. Federal spending during his term was the highest relative to GDP since the end of the second world war. A record number of the population now gets federal entitlements such as Medicaid and food stamps. The federal government backs 90% of new mortgages, up from half before the financial crisis, as well as a growing share of student loans. Staffing levels at regulatory agencies have ballooned, and they churn out more and costlier rules than their predecessors.
I ended up working with A&P Intertrust, a Canadian company that I chose largely because I liked its Web site the best. (The other two companies’ sites appeared stuck in a late-’90s style with lots of flashing boxes.) A&P works with the governments of Panama, the British Virgin Islands and Belize. (Other companies that I contacted prefer the Seychelles, Cyprus or the Cayman Islands, where Mitt Romney has been reported to have money.) I decided to start my shell company in Belize because it would be exempt from all Belizean taxes and, as A&P’s site explained, “information about beneficial owners, shareholders, directors and officers is not filed with the Belize government and not available to the public.” And I’ve been to Belize and like the place.
Steven Chu, the US Energy Secretary, said that “developing America’s solar energy resources is an important part of President Obama’s commitment to expanding American-made energy, increasing energy security, and creating jobs. This new roadmap builds on that commitment by identifying public lands that are best suited for solar energy projects, improving the permitting process, and creating incentives to deliver more renewable energy to American homes and businesses.”
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