Daily Digest

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Daily Digest 3/9 - IMF Renews Stimulus Call, Indicators Point to Slowing Global Growth

Wednesday, March 9, 2016, 11:24 AM

Economy

Moody's warns global slowdown could spark sovereign downgrades

Credit rating agency Moody's warned on Tuesday there could be another wave of sovereign and corporate downgrades if a wider global economic slowdown started to take place.

Ontario debt just keeps growing: Study

Over the 12-year period, Ontario’s net debt ballooned by $10,292 per person, which was the largest per-capita increase in the country.

OECD Leading Indicators Point to Slowing Global Growth

The Paris-based research body said its gauges of future economic activity—which are based on information available for January—continue to point to slowdowns in the U.S., the U.K., Canada and Russia, but now also suggest growth is set to ease in Germany and Brazil.

China exports plunge fastest since 2009 on weak global demand

The weak import figures on Tuesday highlighted how the slowdown in China’s huge construction and manufacturing sectors has crippled the country’s demand for commodities such as crude oil, iron ore, and copper. The export slowdown, meanwhile, shows that foreign demand is unlikely to cushion the blow from weak domestic conditions.

IMF renews call for action to boost global growth

The International Monetary Fund is doubling down on its call for action to save the global economy.Ahead of last month’s G20 finance ministers meeting in Shanghai the IMF warned that the world was slowing and issued a call for more coordinated action by leading economies, reports Shawn Donnan in Washington.

Swiss, Swedish Central Banks Seen Responding to Any ECB Measures

Bold action from the European Central Bank on Thursday could trigger a domino effect of measures by other central banks that have been fighting against the strength of their respective currencies against the euro, analysts say.

Japan mulls second tax-hike delay as spending falls

Japan's government has begun informally discussing a second delay to a hike in sales tax, as Prime Minister Shinzo Abe prepares for elections with household spending lower than when he came to office and still falling.

European Bonds Gain as Economic Growth Backs Case for ECB Easing

European government bonds extended gains from Monday while the region’s stocks declined as data confirmed economic growth slowed in the second half of 2015, underpinning the case for more stimulus from the European Central Bank.

Long-term Japanese bonds set new record lows

The yield on the 30-year Japanese government bond, which moves inversely to price, fell 22.2 basis points to a record low of 0.458 per cent on Tuesday, its biggest one-day slide since 2013. Dealers described pension funds and life insurance companies performing “a desperate grasp for yield in a broken market”.

Gold & Silver

Click to read the PM Daily Market Commentary: 3/8/16

Provided daily by the Peak Prosperity Gold & Silver Group

Article suggestions for the Daily Digest can be sent to [email protected]. All suggestions are filtered by the Daily Digest team and preference is given to those that are in alignment with the message of the Crash Course and the "3 Es."

6 Comments

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4145
Lehman Lawyer to China Distressed Debt Holders: Expect Pain

Saudi Arabia seeks $6-8 billion bank loan to shore up state coffers

Reuters - ‎6 hours ago‎
The kingdom's budget deficit reached nearly $100 billion last year. The government is currently bridging the gap by drawing down its massive store of foreign assets and issuing domestic bonds. But the assets will only last a few more years at their ...

Illinois Comptroller Leslie Munger spells out Illinois' financial trouble

The Herald-News-12 hours ago
Illinois is running out of money, she warned, because 90 percent of expenses that would appear in a typical state budget are being spent at or above fiscal year ...

Lehman Lawyer to China Distressed Debt Holders: Expect Pain

Bloomberg-10 hours ago
China's credit-rating outlook was last week lowered to negative from stable at ... with 22.7 billion yuan of net sales in August when China devalued its currency.

China May Face Japan-Like Slump Unless Yuan Weakens, KKR Says

Bloomberg-17 hours ago
The country's currency interventions have drained cash from the financial system, ... China doesn't need to devalue the exchange rate to boost trade, because its ...

China's economic slowdown leaves millions of jobs at stake

CBS News-17 hours ago
BEIJING -- On Wall Street, stocks closed lower -- the Dow lost 109 points -- in part because of the economic slowdown in China. The communist government ...

PBOC Using Stealth Intervention as Reserves Decline, Daiwa Says

Bloomberg-13 hours ago
China's central bank is probably using stealth measures to intervene in the foreign-exchange market and shore up its currency reserves, according to Daiwa ...

Bad loans at Italian banks rise to 202 billion euros in January

euronews-5 hours ago
MILAN (Reuters) – Gross bad loans at Italian banks rose further in January to 202.05 billion euros (£156 billion), data showed on Wednesday, highlighting the ...

Italian bad debt plan thrusts rating agencies in the spotlight

Reuters-12 minutes ago
LONDON, March 9 (IFR) - Italy's bad loan securitisation scheme will pull rating agencies into the sector for the first time since the financial crisis, reviving worries ...

EU Commission warns Italy over its budget, urges measures

Reuters UK-2 hours ago
Italy's 2016 budget respects EU rules on the headline deficit which is safely below the 3 percent GDP ceiling, but the country's structural deficit, which excludes ...

 

Tall's picture
Tall
Status: Platinum Member (Offline)
Joined: Feb 18 2010
Posts: 564
Locals eating radioactive food 30 years after Chernobyl

"It is in what they eat and what they drink. It is in the wood they use for construction and burn to keep warm," the Greenpeace report, entitled "Nuclear Scars: The Lasting legacies of Chernobyl and Fukushima" says.

The report found that in some cases, such as in grain, radiation levels in the contaminated areas - where an estimated 5 million people live - had actually increased.

"And just as this contamination will be with them for decades to come, so will the related impacts on their health. Thousands of children, even those born 30 years after Chernobyl, still have to drink radioactively contaminated milk."

http://www.reuters.com/article/chernobyl-fukushima-radiation-idUSKCN0WB0B7

 

Full report: 

http://www.greenpeace.org/international/Global/international/publication...

 

Michael_Rudmin's picture
Michael_Rudmin
Status: Platinum Member (Offline)
Joined: Jun 25 2014
Posts: 830
I lived in the path for three years...

... and one of the things that came from Ukraine was flour. However, the locals said that Ukraine had their legal limits of "safe for sale for consumption", and would take contaminated unsafe flour and mix it with clean flour to get it to just inside the limits. So you got a guaranteed dosage.

Who knows if it was true... but it does make sense economically.

Michael_Rudmin's picture
Michael_Rudmin
Status: Platinum Member (Offline)
Joined: Jun 25 2014
Posts: 830
dupe

licate

phecksel's picture
phecksel
Status: Silver Member (Offline)
Joined: May 24 2010
Posts: 204
Two Bloomberg articles, one

Two Bloomberg articles, one states Yuan needs to strengthen, the other states it needs to weaken.

KennethPollinger's picture
KennethPollinger
Status: Platinum Member (Offline)
Joined: Sep 22 2010
Posts: 654
FREE ENERGY with Dr. Kent?????????

Ken Pollinger <[email protected]>

9:32 AM (2 minutes ago)
 
to Mike
 
 
 
 
 
Dr. Kent Moore??  Trustworthy?  I think not.  Your opinion?
 
Daily Reckoning  
March 10, 2016  

This New Fuel Will Kill Big Oil

 

Dear Daily Reckoning Reader,

At this moment, it seems that oil is caught in an absolute death spiral.

And a handful of billionaires are quietly dumping oil stocks at an alarming clip…

This mass exodus comes alongside oil’s fall to an 11-year low, dipping below $35 per barrel for the first time since 2004. That’s even lower than during the 2008 financial crisis.

This situation is so severe that legendary billionaire energy investor John Arnold says that “half the U.S. energy industry will be bankrupt in six months.”

Warren Buffett dumped his entire Exxon position worth over $3.8 billion.

Bill Gates unloaded nearly $1 billion worth of oil stocks.

And George Soros couldn’t get out of oil fast enough, selling off multiple positions…

Pundits would have you believe a temporary “global supply glut” is to blame.

But our affiliates at Money Map Press say they couldn’t be more wrong… 

They say the real reason is much more ominous and could push oil as low as $10 per barrel, completely decimating Big Oil and sending the broader markets into a full-blown collapse.

You see, a shocking discovery outside Bern, Switzerland, has unlocked a massive supply of free fuel.

Enough fuel, in fact, to power the entire world for 36,000 years.

This fuel is so cheap, so easy to access and so abundant that Fortune 500 companies — including Google, Apple and Facebook — are investing billions to move into this technology.

At the same time, nearly every major energy player on the planet is shunning oil in favor of this new fuel. In fact, the U.S. Department of Defense just invested $7 billion in a single day.

And Saudi Arabia’s oil minister, Ali al-Naimi, says the country is investing $109 billion to bring this new fuel on line and could stop using oil entirely.

And our affiliates say this is NOT a temporary condition. They say it’s the beginning of the end for Big Oil.

A member of the United States intelligence community, recognized for his work with presidential citations from presidents Nixon and Reagan, has stepped forward to reveal exactly how this “universal fuel” will enable America to declare complete energy independence for the first time in 40 years.

I suggest you review his complete analysis today…

Regards,

Peter Coyne
Publisher, The Daily Reckoning

IS THIS A CON JOB???

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