World economy talk

**uls** · July 27th, 2011 11:28 PM

USDJPY 77.75 barrier was taken out today

no sign of any intervention

reiterate -- Japan’s finmin Noda said MOF watching fx closely

**uls** · July 28th, 2011 11:56 AM

ES (e-mini S&P500)

**uls** · July 28th, 2011 01:42 PM

USG spending

if (or when) the debt ceiling isnt raised, the USG will still have money (from tax collections) to pay for SOME of those

number 1 priority will definitely go to paying interest on the debt

but there will be other stuff that won't get paid

the USG is preparing for such a scenario

they have to decide what gets paid and what doesnt

kaya huwag magtaka pag nagsara ang US embassy hehe

**tidus1203** · July 28th, 2011 02:33 PM

Ang sensitive dyan is yun na nga debt servicing and of course all those entitlement spending like SS, Medicare and Medicade...

**Ry_Tower** · July 28th, 2011 04:30 PM

Even other countries are in for the roller coaster ride...

Australia urges 'speedy' US debt ceiling deal - Yahoo!7

**Ry_Tower** · July 28th, 2011 04:33 PM

sorry double post

**uls** · July 28th, 2011 04:45 PM

i posted this on May 16, 2011 (page 101)

the US government hits the 14.3 trillion dollar debt ceiling

http://tsikot.com/forums/career-fina.../index101.html

and i also posted this from the US Treasury dept

As US Reaches Debt Limit, Geithner Implements Additional Extraordinary Measures to Allow Continued Funding of Government Obligations

nobody noticed at that time

seemed like nothing

doesnt seem like nothing now huh?

hehehe

**Monseratto** · July 28th, 2011 04:58 PM

I noticed bloomberg TV placed a countdown to AUG 2 Debt Ceiling deadline...

**tidus1203** · July 28th, 2011 05:04 PM

Yeah every major financial news channel does, even CNBC (US version).

Speaking of Bloomberg nawala Bloomberg samin replaced by Fox Business Channel. Not sure if its good kaso puro US markets ang Fox Business...

**uls** · July 28th, 2011 05:30 PM

i understand many people believe this is just theater

that the clowns in the USG are just acting and at the last minute they'll raise the debt ceiling

i also believe that... that it's just an act

they raised the debt ceiling many times before... they'll raise it again

BUT part of me is thinking -- hey, it could be different this time

they can take this over the edge

some of them don't believe it will be armageddon if the debt ceiling isnt raised

some of them believe the aug 2 deadline is just a scare tactic

they're crazy enough to let the deadline pass to find out what will really happen

**Ry_Tower** · July 28th, 2011 07:04 PM

^ IMO, just this time, let it pass.

**uls** · July 28th, 2011 07:21 PM

Italy just had an ugly bond auction

10 yr yield 5.77% vs 4.94% a month ago

sold less than target

**tidus1203** · July 28th, 2011 07:22 PM

Originally Posted by uls

i understand many people believe this is just theater

that the clowns in the USG are just acting and at the last minute they'll raise the debt ceiling

i also believe that... that it's just an act

they raised the debt ceiling many times before... they'll raise it again

BUT part of me is thinking -- hey, it could be different this time

they can take this over the edge

some of them don't believe it will be armageddon if the debt ceiling isnt raised

some of them believe the aug 2 deadline is just a scare tactic

they're crazy enough to let the deadline pass to find out what will really happen

Some hardcore ultra right wing of the GOP even say its ok to default as long as we start controlling the debt and decreasing government spending...

**Ry_Tower** · July 29th, 2011 10:24 AM

Originally Posted by tidus1203

Some hardcore ultra right wing of the GOP even say its ok to default as long as we start controlling the debt and decreasing government spending...

That's my point, so the the USG under Obama will learn to spend well.

**uls** · July 29th, 2011 11:10 AM

this isnt the time for the USG to cut spending

the US economy is slowing down. US private sector spending is down. the public sector has to spend in place of the private sector

but the USG actually decreased spending this year. guess what happened to US gdp

News Release: Gross Domestic Product

The deceleration in real GDP in the first quarter primarily reflected a sharp upturn in imports, a deceleration in PCE, a larger decrease in federal government spending, and a deceleration in nonresidential fixed investment that were partly offset by a sharp upturn in private inventory investment.

Real federal government consumption expenditures and gross investment decreased 8.1 percent in the first quarter, compared with a decrease of 0.3 percent in the fourth. National defense decreased 11.8 percent, compared with a decrease of 2.2 percent. Nondefense was unchanged, after an increase of 3.7 percent. Real state and local government consumption expenditures and gross investment decreased 4.2 percent, compared with a decrease of 2.6 percent.

they really wanna cut more spending?

go ahead

get ready for another US recession

**uls** · July 29th, 2011 12:10 PM

US house of reps -- nothing happened. no vote on debt plan

**Monseratto** · July 29th, 2011 12:35 PM

US Credit Default Swap 1 year and 5 year...

Trading of credit-default swaps insuring U.S. Treasuries soared almost 80 percent as the deadline nears for plans to cut the nation’s budget deficit and raise the $14.3 trillion debt limit to avoid default.

http://www.bloomberg.com/news/2011-0...ts-closer.html

**uls** · July 29th, 2011 01:06 PM

tens of billions of dollars have been pulled out of money market funds this week

--

t-bills due on aug 4 are being dumped

**uls** · July 29th, 2011 03:51 PM

Moody’s places Spain on review for possible downgrade

current rating AA2

**Monseratto** · July 29th, 2011 04:49 PM

Euro can't seem to make up its mind whether to go down cuz of the PIIGS or go up cuz of the Aug. 2...

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