Daily Digest

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Daily Digest 9/4 - India Rupee Declines, Calls Grow For Fuel Price Hike

Wednesday, September 4, 2013, 10:21 AM

Economy

In Chicago, Latino families react to new school safety measures

A recent analysis of Chicago crime data by WBEZ-FM also found that in 2013, there have been 133 shootings and 38 homicides in and around areas that have been newly marked as Safe Passage routes.
In response to safety concerns, police worked with residents and CPS to map out routes near 52 of the “welcoming schools” that are taking in students from the closed schools. The city has put up bright yellow “Safe Passage” signs along those routes.

Indian rupee weakens; calls grow for fuel price hike

The RBI's rupee defense has so far rested largely on draining money markets, but the rupee has still lost over 19.5 percent against the dollar since the slide began in early May, and higher short term interest rates have raised borrowing costs for struggling corporates at time when the economy's slowdown has become more acute.

IMF Downgrades Indonesia's Economic Growth in 2013 to 5.25%

The International Monetary Fund (IMF) expects the economy of Indonesia to expand by 5.25 percent in 2013, which is considerably lower than the IMF's earlier forecast. In its World Economic Outlook, released in April 2013, the institution set economic growth of Indonesia at 6.3 percent.

India Rupee Declines on Concern Capital Outflows to Intensify

Global funds pulled a net $2.3 billion from Indian stocks and bonds last month, exchange data show, before the Federal Open Market Committee meets Sept. 17-18 to decide on when to taper its monthly bond purchases. India’s gross domestic product grew in the second quarter at the slowest pace since 2009, which could worsen the highest external-debt-to-GDP ratio in 12 years and push policy makers to try and bolster foreign-exchange reserves that dropped to the lowest since 2010.

Goldman cuts GDP forecast to 4%, sees rupee at 72 (India)

Goldman Sachs has cut India's GDP growth rate forecast to 4% from 6% earlier for the current financial year, reflecting more difficult external funding conditions as markets increasingly anticipate US tapering and eventual exit from unconventional monetary policies.

South Plainfield, N.J. Mayor: Red Light Cameras Have Increased Accidents

Motorists have paid millions of dollars in fines because of the cameras; one small town in Gloucester County produced more than $1 million in paid violations from May 2011 through May 2012 from one intersection.

Public Employee Pensions Underfunded by $4.1 Trillion

State Budget Solutions, a national nonprofit dedicated to fiscal responsibility, released a report that finds state public employee pension plans are underfunded by a breathtaking $4.1 trillion.
The report, Promises Made, Promises Broken—The Betrayal of Pensioners and Taxpayers, also identifies states where taxpayers and public employee pensioners are most threatened from unfunded pension promises including: Illinois, Ohio, New Jersey, Oregon, Connecticut, Nevada, New Mexico, Hawaii and Alaska. These states face a particularly large unfunded liability at a per capita level and as a percentage of their annual gross state product.

Tight Global Oil Supplies Turn Syria into an International Problem (James S.)

I believe that the Syrian regime's use of chemical weapons is merely a pretext for American intervention despite all the hoopla about the president's rather vaguely worded "red line" warning about chemical weapons to Syria last year. (Need I recount the simmering conflicts and resulting tragedies around the world in which the United States chose NOT to intervene?) One always suspects that oil is the real issue when it comes to the Middle East. So, let's see if that's the case here.

The Reality of Gold and the Nightmare of Paper (GE Christenson)

If I lend my (hypothetical) broke, unemployed, and irresponsible friend $1,000 on an unsecured note, and he is unlikely to repay the loan, then the loan has a value of approximately zero. - See more at: http://www.deviantinvestor.com/4924/the-reality-of-gold-and-the-nightmar...

Gold & Silver

Click to read the Gold & Silver Digest: 9/3/13

Provided daily by the Peak Prosperity Gold & Silver Group

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saxplayer00o1
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saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4149
Rupee surge likely on Rajan's bold plans, Nifty set to open 2% u

 

  1. Rupee surge likely on Rajan's bold plans, Nifty set to open 2% up
  2. $620 Billion Promised, Only $62 Billion Set Aside in Illinois
  3. Investors pull $7.7 billion from Pimco Total Return fund in August

"The Pimco Total Return Fund, which had $7.7 billion in net cash outflows in August alone, has seen its assets shrink by 14 percent to $251 billion at the end of August from $292 billion at the end of April, Morningstar added."

 

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