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More than $3 Trillion Waiting on the Sidelines to buy stocks Published: October 22, 2009 According to some estimates, investors have parked more than $3,000,000,000,000.00 - that''s three trillion dollars - in money market funds waiting for the markets to calm down before jumping back into the game. Of course, some make the argument that if things return to normal, that tremendous liquidity would come roaring back in, making a faster recovery possible. Still, by recent standards, that amount is staggering and local investment adviser Todd Stoner said that "big round number" might entice investors off the sidelines and back into the market end of this year. Investors have long been bracing for a significant pullback. But any retreats in stocks have been modest – less than 10 percent – and brief. The market continues to feed on its own momentum. "I think what''s happened is you had all these people sitting on the sidelines waiting for the correction to come," said Peter Schwartz, principal at Gregory J. Schwartz & Co. "But as time goes by and we haven''t had any major pullbacks, these people sitting on the sidelines are finally pulling the trigger, saying, ‘'I can’'t wait any longer.'' " According to The Institute''s Board of Governors sets Institute policies and oversees ICI activities As this link shows : http://www.ici.org/research/stats/mmf/mm_09_24_09 There is about $3.5 to 4 Trillion sitting in money market funds collecting less than 1% in interest. This is as of a month ago. People are just scared and do the opposite of what they are supposed to do, which is to buy when stocks fall. Instead of loading up in the last few months on equities, which were selling at generational low price ratios, investors instead piled into bonds, CDs and Gold
More than $3 Trillion Waiting on the Sidelines to buy stocks "There is about $3.5 to 4 Trillion sitting in money market funds collecting less than 1% in interest" MoneyBlog - According to some estimates, investors have parked more than $3,000,000,000,000.00 - that''s three trillion dollars - in money market funds waiting for the markets to calm down before jumping back into the game. Of course, some make the argument that if things return to normal, that tremendous liquidity would come roaring back in, making a faster recovery possible. Still, by recent standards, that amount is staggering and local investment adviser Todd Stoner said that "big round number" might entice investors off the sidelines and back into the market end of this year. Investors have long been bracing for a significant pullback. But any retreats in stocks have been modest – less than 10 percent – and brief. The market continues to feed on its own momentum. "I think what''s happened is you had all these people sitting on the sidelines waiting for the correction to come," said Peter Schwartz, principal at Gregory J. Schwartz & Co. "But as time goes by and we haven''t had any major pullbacks, these people sitting on the sidelines are finally pulling the trigger, saying, ‘'I can’'t wait any longer.'' " According to The Institute''s Board of Governors sets Institute policies and oversees ICI activities As this link shows : http://www.ici.org/research/stats/mmf/mm_09_24_09 There is about $3.5 to 4 Trillion sitting in money market funds collecting less than 1% in interest. This is as of a month ago. People are just scared and do the opposite of what they are supposed to do, which is to buy when stocks fall. Instead of loading up in the last few months on equities, which were selling at generational low price ratios, investors instead piled into bonds, CDs and Gold
IMF: Euro adoption in 2011 for Estonia appears within reach\r\n\r\n\r\nThe International Monetary Fund has applauded Estonia’s efforts to stabilize the economy, and suggest that euro adoption is within reach. \r\n\r\n“A full-fledged crisis has been avoided due to existing buffers and a determined response by both the public and the private sector,” an IMF press release said. The full text follows:\r\n\r\n\r\nRepublic of Estonia—2009 Article IV Consultation Concluding Statement\r\n\r\nTallinn, October 26, 2009\r\n\r\n1. Following a credit boom, the Estonian economy is now undergoing a severe recession. Domestic demand started to slow already in 2007, along with a bursting of the property bubble. The collapse of global financing and trade in the aftermath of the Lehman bankruptcy in September 2008 exacerbated the downturn. Economic activity has declined sharply, with output projected to drop by about 14 percent this year and unemployment is expected to exceed 16 percent by year-end. On the positive side, previous imbalances are correcting quickly: the current account should remain in a small surplus for the year and inflation is set to fall below the Maastricht criterion as early as next month.\r\n\r\n2. A full-fledged crisis has been avoided due to existing buffers and a determined response by both the public and the private sector. Sizable fiscal reserves accumulated during the boom years, a very low level of public debt, and, importantly, swift and far-reaching fiscal adjustment measures taken in 2008 and throughout 2009 have helped the government avoid funding problems and keep alive hopes for euro adoption in 2011. The active use of EU structural funds provided some countercyclical stimulus at a time when supporting the currency board and securing speedy euro adoption necessitated a fiscal tightening. In the financial sector, banks’ own capital and liquidity cushions and support from Nordic parents prevented liquidity problems in spite of rising nonperforming loans; relatively high reserve requirements and a precautionary liquidity arrangement between the Estonian and Swedish central banks further boosted liquidity buffers of banks. The private sector has also reacted flexibly, with wage cuts and adjustments in employment, further enhanced by the new labor law. Estonia’s currency board arrangement has proven resilient to regional tensions.\r\n\r\n3. As a result of present and past efforts, euro adoption in 2011 appears within reach. Following recent budget measures and assuming continued fiscal consolidation efforts, Estonia could meet all Maastricht criteria, while the policy record to date provides assurances for continued stability-oriented policies. This is remarkable, as it is being achieved against the background of severe dislocations due to the crisis. Joining the euro zone would remove residual currency and liquidity risks, adding stability to the Estonian economy.\r\n\r\n4. But euro adoption is no panacea and the economic outlook remains challenging. While there are preliminary signs that the output decline is starting to bottom out, we expect the economy to resume growth only in the middle of 2010. Sluggish growth in Estonia’s main trading partners provides little room for an export-led recovery. The continued need for tight fiscal policies, and the high unemployment and debt burden will likely keep domestic demand subdued. The worsening of banks’ portfolios could limit the availability of fresh credit, including for viable projects. It is not certain that joining the euro zone, even if it goes ahead as planned in 2011, would by itself trigger a major change in the pace of recovery of Estonia’s economy, although some positive confidence effects can be expected.\r\n\r\n5. Efforts —both by the government and the private sector—should focus on consolidating economic stability and laying the foundations for sustained growth. In particular, it will be key to:\r\n• Gear fiscal policy not only towards meeting the Maastricht criteria in 2009-10, but to take measures now to secure sustainable public finances in the medium term;\r\n• Further improve external competitiveness;\r\n• Maintain appropriate buffers in the financial sector, while at the same time dealing with a high level of private sector indebtedness.\r\n\r\nFiscal Policy\r\n\r\n6. Following an extraordinary fiscal effort, the 2009 budget deficit is likely to remain close to its target of 3 percent of GDP. About one third of the adjustment in 2009 has been achieved through structural reforms, such as increases in VAT and excise rates, adjustment in benefits (pension, sickness, and unemployment), as well a consolidation of public functions. Another third is based on one-off measures, such as land sales, and larger than usual dividend payments by state owned enterprises. The remaining third relies on potentially reversible measures once the fiscal space should emerge (e.g., earmarked spending and postponed investment). Budget implementation in Estonia has held up remarkably well, given that the economic contraction has been only marginally smaller than in its Baltic neighbors. This can be attributed to a better starting position, strong budget institutions and tax collection. The procyclical impact on demand has been mitigated by the aggressive use of EU funding. Nevertheless, non-tax revenues, the health fund and deficits of local governments present considerable risks to meeting the budget targets. Continued consolidation at all government levels is warranted during the remaining months of the year.\r\n\r\n7. Keeping the 2010 deficit below the Maastricht deficit limit presents a key challenge. Given the projected deterioration of the economy, notably a further rise in unemployment, achieving this target calls for an all-out fiscal push. The draft 2010 budget submitted to parliament goes a long way in offsetting these factors, primarily by further reducing operating expenditures while relying again on some one-off non-tax revenues. We believe, however, that current plans fall short of containing the deficit to below 3 percent of GDP. Given the considerable macroeconomic and implementation risks, additional measures of about 1 percent of GDP would provide an appropriate safety margin.\r\n\r\n8. Credible medium-term stabilization requires to commit to additional structural adjustment measures now. While in current circumstances it seems appropriate to partly rely on measures with limited impact on domestic demand (such as dividends from state-owned companies and land sales), we see a strong case to supplement these with additional structural measures. The reason is that, once temporary measures expire in 2011, there is a high risk that large and widening headline deficits will emerge. Taking necessary structural measures already now would not only close the remaining budget gap for 2010 but also confirm Estonia’s medium-term commitment to fiscal sustainability—a key consideration when assessing preparedness for the euro. The short-term demand effect of those measures should not pose risks to 2010 growth, given the planned large increase in EU grant-financed government spending.\r\n\r\n9. We see some room for further expenditure reductions. The size of government in proportion to the economy rose sharply already in the run-up to the crisis, especially after the 2007-08 surge in current spending. Better targeting of child and family benefits could deliver considerable savings. There may also be further scope for rationalizing public services and administration while improving efficiency and preserving important functions like tax administration. Pension reform represents an important medium-term goal.\r\n\r\n10. Much of the adjustment effort will however need to fall on the revenue side. Following the boom years, which resulted in a surge of revenues, the tax base will be gradually eroded through the reorientation of the economy towards exports which are lightly taxed. In keeping with Estonia’s admirably simple tax system, a first step could be to further eliminate poorly targeted allowances and exclusions, especially within personal income taxes and VAT. Significant deferral benefits in the corporate income tax could also be reviewed. Consideration should be given to the further use of environmental and other taxes—such as an annual motor vehicle tax or real estate taxes—which would broaden the tax base and reduce economic distortions. An increase of the VAT rate would support a shift from nontradable to tradable sectors and could potentially be used to offset an increase of the personal income allowance or a reduction of Estonia’s relatively high payroll taxes.\r\n\r\n11. The recent boom-bust experience calls for a new medium-term fiscal framework that limits the budget’s procyclicality. The “balance or better” fiscal rule served Estonia well, but could not prevent a surge in spending during the boom which proved painful to reverse during the downturn. Consideration should be given to strengthening multi-year expenditure ceilings, similar to what is used in some other EU countries. These could be supplemented with the existing goal to bring the budget to structural balance by 2012. The above-mentioned reductions in fiscal entitlements and broadening and diversification of the tax base would support this goal, as would a reduction of revenue earmarking.\r\nStrengthening External Competitiveness\r\n\r\n12. The economy needs to regain the external competitiveness lost during the boom years. The expansion in domestic demand put pressure on the labor market, and generated wage increases that ran ahead of productivity growth even in traded sectors not immediately affected by the credit boom. This dented Estonia’s external competitiveness, and has made it vulnerable to the large decline in external demand observed in the last twelve months. Depreciation of the currencies of some trading partners added pressures to Estonia’s external competitiveness, particularly in the early months of this year, although some of this has been recently reversed.\r\n\r\n13. Policies that enhance economic flexibility are key to regaining competitiveness in the short and medium term, and will be equally important when Estonia joins the euro area. Labor and product markets are flexible, and seem capable of delivering the necessary adjustment in competitiveness. This adjustment is in fact already ongoing, as wages and prices have declined, and firms have tried to increase efficiency. In this context, the recent labor law was a step in the right direction, as it gives more flexibility to the labor market (although the corresponding social security component should be introduced as soon as feasible). Targeting EU-funded projects to the tradable sector should also help to deliver the necessary rebalancing of the economy, which in recent years tilted too much towards non-tradables such as real estate and construction. Active labor market policies and research investments will further promote Estonia’ competitiveness and economic convergence.\r\n\r\nFinancial sector and private sector debt\r\n\r\n14. The financial sector has proven very resilient, despite pressures in the region. The systemically important banks maintain high levels of capital, which is partly due to a tax regime that has favored the retention of earning. Liquidity pressures have been contained through large domestic buffers, through parent banks’ enhanced access to wholesale funding markets (aided by the Swedish authorities’ supporting measures), and the precautionary swap agreement with the Riksbank. The strong bank supervisory framework in Estonia has helped to manage risks. Depositors’ confidence has been maintained despite regional uncertainties.\r\n\r\n15. Caution is warranted, however, as rising nonperforming loans may nevertheless test banks’ resilience. Overdue loans are likely to increase further over the course of the year, amid limited near-term growth prospects and rising unemployment. This will necessitate banks setting aside additional provisions to assure that loan-loss reserves are maintained at adequate levels. While capital adequacy ratios are high and should provide a buffer against nonperforming loans, it would be prudent to step up macrofinancial supervision and to closely monitor developments, including whether debt restructuring agreements with clients are viable. Banks should provide debt restructuring and relief where warranted, and parent banks should stand ready to inject further capital if needed. Looking ahead, the provision of new credit is likely to remain subdued as banks adjust their balance sheets.\r\n\r\n16. In light of the agreed EU roadmap and the crisis, implementation of further measures to strengthen the financial system must be accelerated. We welcome progress made in strengthening cooperation on cross-border financial stability in the Nordic region. Moreover, priority should be given to pending legislation on implementing a bank resolution framework and enhancements to the deposit guarantee fund, key recommendations of the last FSAP update. Complacency now would risk future problems being less tractable and thus undermine public confidence.\r\n\r\n17. A large stock of debt by households and corporates, accumulated in the boom years, will weigh on growth. With non-financial sector loans at about 150 percent of GDP, private sector indebtedness is high in Estonia relative to its wealth and income level. Large proportions of long-term debt are currently tied to the depressed real estate sector. Financial difficulties of debtors may have eased somewhat recently, thanks to low interest rates and banks’ willingness to reschedule a portion of debt payments into the future. This relief is likely to be temporary, however, as price and wage deflation and increases in euro zone interest rates could result in a higher debt servicing burdens in the years ahead. International evidence suggests that high debt levels will slow recovery of consumption and investment.\r\n\r\n18. While some debt restructuring and relief may be desirable from a macroeconomic perspective, heavy-handed policy intervention must be avoided. Any interference in private contracts, such as retroactive limits on debtors’ liabilities, would severely undermine Estonia’s tradition of the rule of law and may raise litigation risks. Imposing such provisions on new contracts would likely constrain the availability of credit. Appropriately designed credit enforcement legislation can, however, facilitate the rehabilitation of viable and speedy exit of non-viable firms and help good faith debtors make a fresh start. In this context, there appears to be room to optimize current legal provisions for foreclosure, bankruptcy and reorganization and their application through the courts. The Reorganization Act, in particular, may benefit from enhanced flexibility. Well-functioning insolvency frameworks also typically stimulate and support debt-reducing out-of-court restructuring. From a medium-term perspective, changes to the corporate tax code would be desirable to discourage excessive debt accumulation at firm level.\r\n\r\nWe would like to thank our many counterparts for their frankness and excellent cooperation.
China Signals That It May Allow Currency to Rise Against Dollar Published: Wednesday, 12 Nov 2009 - CNBC "Goodbye US dollar" China sent its clearest signal yet that it was ready to allow yuan appreciation after an 18-month hiatus, saying on Wednesday it would consider major currencies, not just the dollar, in guiding the exchange rate In its third-quarter monetary policy report, the People''s Bank of China departed from well-worn language on keeping the yuan "basically stable at a reasonable and balanced level." It hinted instead at a shift from an effective dollar peg that has been in place since the middle of last year. "Following the principles of initiative, controllability and gradualism, with reference to international capital flows and changes in major currencies, we will improve the yuan exchange-rate formation mechanism," the central bank said in a 46-page monetary policy report. The comments, published just days before a visit to Shanghai and Beijing by U.S. President Barack Obama, set out the possibility of a return to exchange rate appreciation that began with a landmark July 2005 revaluation. The yuan strengthened by nearly 20 percent against the dollar until concern over the impact of the global financial crisis prompted Beijing to hit the brakes in the middle of last year to protect exporters. The yuan has been stuck at around 6.83 per dollar ever since, drawing increasing ire from other countries, especially as it has followed the dollar downwards against other currencies. The dollar has dropped 13 percent against a basket of major currencies including the yen and euro since mid-February. Back to a Basket? Some analysts have called for the return to a genuine basket of currencies, which the central bank said in 2005 it would use as a reference for the yuan "I think the wording change … shows that it is an irresistible trend for China to resume yuan appreciation," said Xing Ziqiang, an economist at China International Capital Corp (CICC) in Beijing. "It is not sustainable for the yuan to always be pegged to the U.S. dollar; after all, the repegging since late 2008 was just part of China''s measures to address the global financial crisis, and now the impact of the financial crisis is fading, so the yuan should resume appreciation sooner or later." The central bank''s report came just hours after data that showed the world''s third-largest economy had firmly put the worst of the global financial crisis behind it. Factory output growth surged to a 19-month high of 16.2 percent in October. While exports were still down in year-on-year terms, economists pointed to the likelihood that they would start growing again soon. Some analysts said the statement could have been timed to send a signal ahead of Obama''s Nov. 15-18 visit to China. Obama told Reuters on Monday that he planned to raise the currency issue during his trip. However, Beijing is increasingly facing complaints about its currency from other emerging economies, which see an undervalued yuan as undercutting them in global markets. No Sudden Shift Those concerns were evident in a draft statement from APEC finance ministers circulated on Wednesday, in which they call for flexible interest rates and exchange rates as a way of redressing economic balances. "We agreed that flexible prices, including exchange rates and interest rates, play a critical role in allocating resources efficiently, and can facilitate the adjustments needed to support balanced and sustainable global growth," said the latest draft statement by the finance ministers dated Nov. 10 While the statement could change in its final form, a deputy Chinese finance minister was present at discussions on it, suggesting some level of agreement by Beijing on the wording. However, analysts were quick to caution against expecting any sudden shift in the yuan''s actual value, given China''s penchant for carrying out any reforms gradually. "The central bank''s worries about capital flows, liquidity, and inflation signal growing pressure for yuan appreciation," said Ben Simpfendorfer, strategist with the Royal Bank of Scotland in Hong Kong. "But I''m not looking for gains in the currency until the second quarter as the export sector still faces large challenges and margin pressure." Markets priced in a slightly greater appreciation over the coming year. Offshore one-year dollar/yuan non-deliverable forwards (NDFs) fell to 6.6075 bid late on Wednesday compared with Tuesday''s close of 6.6320. Yuan appreciation implied by NDFs, which moves inversely with the forwards, was around 3.3 percent in a year compared with 3.06 percent before the announcement. Xing with CICC said he was expecting even greater appreciation, of 3 to 5 percent next year, in the face of growing external and internal pressure. "For China''s own sake of balancing its economic growth and reducing its large surplus in the trade account, it is also necessary for the government to make the yuan more flexible."
13 Nov, 2009 09:08
Presiden Obama, meminta supaya pemerintah China membiarkan "Yuan" menguat, untuk mendukung eksport AS.\r\n\r\nChina salama ini memanipulasi level peg-dollar pada level tinggi. (US Dollar mahal di china)\r\n\r\nIni menyebabkan produk2 china , dianggap murah di pasar internasional\r\n\r\nsehingga eksport china sangat ekspensif pada masa sekarang.\r\n\r\n\r\n\r\nApakah Amerika akan melakukan hal yang sama ? yaitu melemahkan dollar mereka sendiri, ?\r\n\r\ndengan melakukan "Copy paste" STRATEGI DAGANG china. pada masa sekarang ??\r\n\r\n\r\nDAN\r\n\r\n\r\nApakah rupiah bisa ikut menguat ke level 2500-3000 (( masa pra-krisis tahun 199smile)\r\n\r\n\r\nJika rupiah ke ke level 3000.\r\n\r\nApakah bisa terjadi krisis global bagian ke dua ??\r\n\r\nketika HOT money secara tiba-tiba (shock outflow) keluar dari negara2 asia.\r\n\r\nUS dollar come back menguat to 16.000 dalam 3 hari (masa pemerintahan Habiebie 1999)\r\n\r\nbank-bank di Asia besar pada tutup.\r\n\r\nkarena mereka memiliki hutang luar negeri ke AS dalam jumlah banyak "dalam mata uang US Dollar" pada waktu itu\r\n\r\n\r\n\r\n-=-=-=-=-=–=-=-=-=-=–=-=-=-=-=–=-=-=-=-=–=-=-=-=-=–=-=-=-=-=-\r\n\r\nThe Fed May Cause Next Crisis, Hong Kong’s Tsang Suggests\r\n-=-=-=-=-=–=-=-=-=-=–=-=-=-=-=–=-=-=-=-=–=-=-=-=-=–=-=-=-=-=-\r\n\r\nNov. 13 (Bloomberg) – The Federal Reserve’s policy of keeping interest rates near zero is fueling a wave of speculative capital that may cause the next global crisis, Hong Kong’s leader said. \r\n\r\n“I’m scared and leaders should look out and watch out,” said Donald Tsang, chief executive of the Chinese city, said in Singapore today. “America is doing exactly what Japan did last time,” he said, adding that the Bank of Japan’s zero interest rate policy contributed to the Asian financial crisis and U.S. mortgage meltdown. \r\n\r\nFed Chairman Ben S. Bernanke, a scholar of the Great Depression, has overseen a record injection of liquidity into the world’s largest economy, pledging not to make the mistake of the 1930s, when policy makers tightened policy. Tsang’s warning contrasts with pledges by the Group of 20 nations that represent the world’s biggest economies to keep stimulus measures in place. \r\n\r\n“We have a U.S. dollar carry trade at the moment,” Tsang, 65, said in a speech where leaders of the Asia Pacific Economic Cooperation forum are gathering for a weekend summit. The carry trade is where investors borrow cheaply in one currency and use the funds to invest in other currencies. \r\n\r\nNext ‘Problem’ \r\n\r\n“And where is the money going – it’s where the problem’s going to be: Asia,” Tsang said. “And again you can see asset prices going up, not only in Korea, in Taiwan, in Singapore and in Hong Kong, going up to levels that are incompatible or inconsistent with the economic fundamentals.” \r\n\r\nTsang was working for the Hong Kong government during the 1997-98 Asian crisis, when countries from South Korea to Indonesia were forced to borrow from the International Monetary Fund because of an investor exodus sparked by concerns officials couldn’t maintain the value of their currencies. Authorities intervened to buy $15 billion of Hong Kong stock to successfully defend the territory’s exchange-rate peg to the dollar. \r\n\r\nThe U.S. currency has tumbled 14 percent since the beginning of March, according to the Fed’s trade-weighted major currency index. The dollar has been hurt by a global recovery that has reduced investor appetite for the currency as a haven, and by expectations for the Fed to keep its main rate near a record low into 2010. \r\n\r\nIMF Analysis \r\n\r\n“There are indications that the U.S. dollar is now serving as the funding currency for carry trades,” the IMF said in a report last week. “These trades may be contributing to upward pressure on the euro and some emerging-economy currencies.” \r\n\r\nFed policy makers last week reiterated their pledge to keep borrowing costs “exceptionally low” for an “extended period” to aid the U.S. recovery. APEC finance ministers, in a joint statement yesterday, committed to maintain stimulus efforts “until a durable recovery in private demand is secured.” \r\n\r\n“We are serious, we definitely want a strong dollar,” France’s Finance Minister Christine Lagarde said in an interview in Singapore today. \r\n\r\nWorld Bank President Robert Zoellick, also in Singapore for APEC, said that while Asian countries do face some risk of asset prices climbing, it’s up to the region’s officials to act. \r\n\r\n“Given liquidity in the international marketplace and given the pace of recovery in East Asia, you could start to see some asset bubbles in particular markets,” Zoellick said in a Bloomberg Television interview yesterday. “There will be a need here, unlike you might have in Europe and North America” to look at actions such as Australia’s rate boost this month, “or other ways,” he said. \r\n\r\nU.S. Treasury Secretary Timothy Geithner reiterated his commitment to a “strong dollar” policy while on a trip to Asia this week. \r\n\r\n“I believe deeply that it’s very important to the United States, to the economic health of the United States, that we maintain a strong dollar,” Geithner told reporters in Tokyo Nov. 11. After meeting with his APEC finance minister counterparts yesterday in Singapore, he said “we bear a special responsibility” because of the U.S. economy’s global role
I’m watching the news. I think Dubai is a big event. The reason indexes are off their lows is because most fund managers are global players and already got out of their overseas positions. \r\nAnd I think we could see further stock market weakness. Remember, the subprime crisis was supposed to be contained. For traders the question raised by Dubai is, who’s next and how badly will the crisis spread? Until we have more clarity I expect investors will likely buy US dollars for safety. \r\n\r\nThe analysts at Commerzbank in London believe these companies and others are now facing losses of up to 50 percent on their investments. Luis Costa from the EMEA debt team believes Abu Dhabi will come to the rescue, but only on terms that suit it and its lenders. \r\n\r\nGlobal banking giants like HSBC, Citi, Standard Chartered and Barclays all have significant exposure to the UAE, of which some will be exposed directly to Dubai. \r\n\r\nDubai''s Debt Woes Signal New Era for Creditors … \r\n\r\n\r\nHedge Your Investment portfolio against major stock market crash, It''s time to accumulate US Dollar at lowest price.
I’m watching the news. I think Dubai is a big event. The reason indexes are off their lows is because most fund managers are global players and already got out of their overseas positions. \r\nAnd I think we could see further stock market weakness. Remember, the subprime crisis was supposed to be contained. For traders the question raised by Dubai is, who’s next and how badly will the crisis spread? Until we have more clarity I expect investors will likely buy US dollars for safety. \r\n\r\nThe analysts at Commerzbank in London believe these companies and others are now facing losses of up to 50 percent on their investments. Luis Costa from the EMEA debt team believes Abu Dhabi will come to the rescue, but only on terms that suit it and its lenders. \r\n\r\nGlobal banking giants like HSBC, Citi, Standard Chartered and Barclays all have significant exposure to the UAE, of which some will be exposed directly to Dubai. \r\n\r\nDubai''s Debt Woes Signal New Era for Creditors … \r\n\r\n\r\nHedge Your Investment portfolio against major stock market crash, It''s time to accumulate US Dollar at lowest price.\r\n\r\n\r\n.\r\n\r\n.\r\n\r\n.
US Dollar is “Likely Source” of Next Financial Crisis ??\r\n\r\n\r\n\r\nRead Full Articles on : http://bigcapital.wordpress.com\r\n\r\n.\r\n\r\n\r\n\r\n\r\n\r\n\r\n.\r\n\r\n\r\n\r\n\r\n\r\n\r\n.\r\n\r\n\r\n\r\n\r\n\r\n\r\n.
ECB’s Trichet Says Strong Dollar Is ‘Very Important’\r\n\r\n\r\n\r\nRead Full Articles on : http://bigcapital.wordpress.com
ECB’s Trichet Says Strong Dollar Is ‘Very Important’\r\n\r\n\r\n\r\nRead Full Articles on : http://bigcapital.wordpress.com\r\n\r\n\r\n.\r\n\r\n\r\n.\r\n\r\n\r\n\r\n.\r\n\r\n\r\n.
World Bank musters $5.5 billion for solar projects\r\n\r\n\r\nWASHINGTON – The World Bank announced Wednesday 5.5 billion dollars would be invested in solar energy projects in five countries of the Middle East and North Africa in a bid to combat climate change.\r\n\r\nThe Clean Technology fund will invest in the CSP programs of five countries in the Middle East and North Africa: Algeria, Egypt, Jordan, Morocco, and Tunisia.\r\n\r\n\r\n\r\nSource: http://www.bigcapital.wordpress.com/\r\n\r\n\r\n.\r\n\r\n\r\n\r\n\r\n\r\n.\r\n\r\n\r\n\r\n\r\n\r\n\r\n.
German and China economy improves as Global Economy Strengthened\r\n\r\n\r\n\r\nChina’s industrial production grew more than economists estimated in November, signaling a strengthening recovery in the world’s third-biggest economy. \r\n\r\nGerman economic growth accelerated to 0.7 percent in the third quarter from 0.4 percent in the second, when it pulled out of its worst recession since World War II. Business confidence increased to a 15-month high in November, suggesting the recovery may gather pace next year.\r\n\r\n\r\n\r\nSource: http://bigcapital.wordpress.com/

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