World economy talk

[uls]

sa pagkaalam ko FICO score parin ang basehan

big deal sa States ang credit score

i think the banks also look at repayment history (to see if the borrower has history of late payments, delinquencies, bankruptcy)

assets and liabilities

[Monseratto]

i think the banks also look at repayment history (to see if the borrower has history of late payments, delinquencies, bankruptcy)

Dami ata delinquency and bankruptcies ngayon. Also what falls under assets beside Real property in determining FICO score?

[uls]

Dami ata delinquency and bankruptcies ngayon. Also what falls under assets beside Real property in determining FICO score?

assets are not included in FICO score

FICO score is purely credit history (payment history, use of credit, length of credit history, types of credit used)

[uls]

IEA reports China surpassed the US in energy consumption in 2009



my opinion: US energy consumption fell coz of the recession

[tidus1203]

Yep, the same reason why China is also the #1 market now for cars... The US slowed down that much!

[uls]

look at how much coal China uses

factory of the world kasi

[tidus1203]

Or maybe hindi pa kasi sila ganun ka-sophisticated... Pero surprisingly they are ahead of the US when it comes to renewables...

[tidus1203]

Bernanke talks, investors sell...

Basically he was saying to Congress that he is hesitant to use new bullets to help stimulate the economy.

Baka naman wala na syang bullets?

[uls]

10 yr yield

[uls]

Bernanke last night:

http://www.forexlive.com/120458/all/...re-stim-needed

In response to a question about what form possible further policy stimulus by the Fed would take, Bernanke gave the following response:

“Senator I think its important to preface the answer by saying that monetary policy is currently very stimulative as I’m sure you are aware. We have brought interest rates down close to zero, we have had a number of programs to stabilize financial markets, we have language which says
we plan to keep rates low for an extended period. And we have purchased more than a trillion dollars in securities.

“So certainly no one can accuse the Fed of not having been aggressive in trying to support the recovery. That being said, if the recovery seems to be faltering then we will at least need to review our options.

“We have not fully done that review and we need to think about possibilities. But broadly speaking, there are a number of things we could consider and look at; one would be further changes or modifications of our language or our framework describing how we intend to change interest rates over time — giving more information about that, that’s certainly one approach. We could lower the interest rate we pay on reserves, which is currently one-fourth of 1%. The third class of things has to do with changes in our balance sheet and that would involve either not letting securities run off — as they are currently running off — or even making additional purchases.

“We have not come to the point where we can tell you precisely what the leading options are. Clearly each of these options has got drawbacks, potential costs, so we are going to continue to monitor the economy closely and continue to evaluate the alternatives that we have,
recognizing that — as I said — policy is already quite stimulative.”

his 3 potential bullets:

1. further changes in language RE interest rates

2. lower the interest rate the Fed pays on reserves (rumor the other night)

3. replace securities that run off the balance sheet with new securities or buy additional securities

[tidus1203]

The market already knows that he will have to keep these low interest rates for many years, this is not your typical run off the mill recession, this is more like grand dad's recession in the 30's...

As for #2. Can it get any lower? What's the difference with 0.25% and say 0.10%. Bottom line no one wants to hire or invest cause they are SCARED and not because money is EXPENSIVE. Kulang na lang that they should guarantee business will make money!

#3, well yeah running the printing presses. It is being done as we speak right? Guess priting more wouldn't hurt...

[uls]

NYMEX crude

[uls]

EU banks stress test results:

7 out of the 91 banks failed (must have been a very easy test)

5 Spain banks failed: Espiga, Diada, Unnim, Civica, Cajasur

1 Germany bank failed: Hypo Real Estate

1 Greece bank failed: ATE Bank

Allied Irish and Bank of Ireland passed but need additional capital

EU banks have to raise capital 3.5B euros total only

that's it

the stress test is a joke

hehe

for finance geeks who want the source:

http://www.c-ebs.org/EuWideStressTesting.aspx

[uls]

BP CEO Tony Hayward will no longer be CEO in 48 hours

[tidus1203]

Too much stress being BP CEO at the moment...

[uls]

http://www.bp.com/genericarticle.do?...tentId=7063976

BP CEO Tony Hayward to Step Down and be Succeeded by Robert Dudley
Release date: 27 July 2010
BP today announced that, by mutual agreement with the BP board, Tony Hayward is to step down as group chief executive with effect from October 1, 2010. He will be succeeded as of that date by fellow executive director Robert Dudley.

BP chairman Carl-Henric Svanberg said: "The BP board is deeply saddened to lose a CEO whose success over some three years in driving the performance of the company was so widely and deservedly admired.

"The tragedy of the Macondo well explosion and subsequent environmental damage has been a watershed incident. BP remains a strong business with fine assets, excellent people and a vital role to play in meeting the world's energy needs. But it will be a different company going forward, requiring fresh leadership supported by robust governance and a very engaged board.

"We are highly fortunate to have a successor of the calibre of Bob Dudley who has spent his working life in the oil industry both in the US and overseas and has proved himself a robust operator in the toughest circumstances," Svanberg said.

[boybi]

Renamed the thread title. Original thread title no longer relevant to the current discussions.

[shadow]

Renamed the thread title. Original thread title no longer relevant to the current discussions.

FINALLY!!!!!

matagal ko na na suggest to change the title

[uls]

if you're a fan of Jersey Shore, the cast of Jersey Shore will ring the opening bell at the NYSE 9:29 tonight

[uls]

Gold falling