World economy talk

[uls]

check out euro reaction

[tidus1203]

I am back where I belong!! hahaha

Anyway!

Looks like the money printing machine of the EU is moving on full speed... Stock futures up sharply...

[renzo_d10]

Wb tidus

Sent from my GT-P7310 using Tapatalk 2

[uls]

hey bumalik si tidus

[uls]

Looks like the money printing machine of the EU is moving on full speed... Stock futures up sharply...

yup the ECB is gonna directly recapitalize eurozone banks via the ESM. no burden on governments

[uls]

UK


Germany


France


Italy


Spain

[uls]

Dow 12880.09 +277.83 +2.2%
nasdaq 2935.05 +85.56 +3%
s&p 500 1362.16 +33.12 +2.49%

[Ry_Tower]

Baka pati si tidus tirahin din ni... kanluranatsilangan.

[safeorigin]

In other news, Obamacare was upheld by the Supreme Court...

what to expect:

Friedman's key conclusion was that, as with all governmental bureaucratic systems, government-owned or -controlled healthcare created a situation whereby increased "inputs," such as expenditures on equipment, infrastructure, and the salaries of medical professionals, actually led to decreased "outputs" in terms of the quantity of medical care. For example, while medical expenditures rose by 224 percent from 1965–1989, the number of hospital beds per 1,000 population fell by 44 percent and the number of beds occupied declined by 15 percent. Also during this time of almost complete governmental domination of the hospital industry (1944–1989), costs per patient-day rose almost 24-fold after inflation is taken into account.

Costs always explode whenever the government gets involved, and governments always lie about it. In 1970 the government forecast that the hospital insurance (HI) portion of Medicare would be "only" $2.9 billion annually. Since the actual expenditures were $5.3 billion, this was a 79 percent underestimate of cost. In 1980 the government forecast $5.5 billion in HI expenditures; actual expenditures were more than four times that amount — $25.6 billion. This bureaucratic cost explosion led the government to enact 23 new taxes in the first 30 years of Medicare. (See Ron Hamoway, "The Genesis and Development of Medicare," in Roger Feldman, ed., American Health Care, Independent Institute, 2000, pp. 15-86). The Obama administration's claim that a government takeover of healthcare will somehow magically reduce costs is not to be taken seriously. Government never, ever, reduces the cost of doing anything.

Socialized Healthcare vs. The Laws of Economics - Thomas J. DiLorenzo - Mises Daily

[tidus1203]

I still believe Obama will get re-elected. Romney is just not good enough a candidate to be honest. And his rich breeding will go against him especially now when people tend to support more socialism when they are in trouble. Unemployment is still stubbornly high in the US and I am not talking about the government numbers. I am talking about REAL UNEMPLOYMENT! Rumored to be much closer to 20% in the US.

[uls]

good morning

South Korea: HSBC June manufacturing PMI 49.4 (May 51.0)

number below 50 indicates contraction

---

China a little later

[uls]

China: HSBC June manufacturing PMI 48.2 (May 48.4)
___

http://www.cnbc.com/id/48038077

China's factory activity shrank in June at the fastest pace in seven months as new export orders tumbled to depths last seen in March 2009, a private sector survey showed, underlining the risk of a lurch lower for the Chinese economy.

The HSBC Purchasing Managers' Index (PMI) fell to 48.2 after seasonal adjustments, its lowest since November 2011, and little changed from a flash, or preliminary, estimate of 48.1. The final reading in May was 48.4.

June was the eighth straight month of a reading below 50, the threshold dividing expansion from contraction in the survey methodology.

China's official PMI, released on Sunday, also fell to a seven-month low in June. However, the official PMI was 50.2, indicating the sector was still expanding.

The two indexes often give divergent readings as the official PMI surveys mainly big, state-backed firms, while the HSBC PMI takes the pulse of more smaller, private-sector companies.

[uls]

India: HSBC June manufacturing PM 55.0 (May 54.8)

[uls]

Eurozone PMI For Manufacturing Is Not As Bad As Initialy Estimated - TheStreet

The Eurozone continues to deliver further signs of a shrinking economy, as the Purchasing Managers’ Index for manufacturing came in at 45.1 for June, unchanged from May’s index which indicated the fastest slowdown in factory output in 3 years. However, the PMI wa s better than previous estimate of 44.8, but still below 50.0 for the eleventh straight month, signaling nearly a year of declining output.

Germany’s PMI for manufacturing was reported at 45.0, which although it is a 3-year low, was still better than the initially estimated 44.7. Ireland’s PMI was reported at 53.1, a 14-month high for the factory output indicator, while Spain’s PMI was measured at 41.1 and indicated the fastest decline in manufacturing in over 3-years.

[uls]

Greece receives remaining 1 billion euros of bailout tranche | Reuters

(Reuters) - Greece received the remaining one billion euro portion of its latest bailout tranche which will provide some comfort to cash strapped state coffers, a senior government official said on Monday.

The disbursement came from the European Financial Stability Facility (EFSF), the euro zone's temporary bailout fund, as was agreed on by finance ministers in May.

[uls]

US: ISM Manufacturing Index 49.7 forecast 52.0 previous 53.5

uh oh

[uls]

^^

weak US economic data makes QE3 more likely

which is dollar negative

Phil. exporters, BPO industry, OFWs... feel the pain

[uls]

the market has been on risk-on mode since last friday

here's the Australian dollar (risk-on currency) against the Japanese yen (risk-off currency)

[uls]

they found a new particle

https://twitter.com/CERN/status/220425130793385985

‪#CMS‬: "we have observed a new boson with a mass of 125.3 ± 0.6 GeV at 4.9 sigma significance." Thunderous applause. ‪#Higgs‬ ‪#ICHEP2012

‬

[uls]

later

Bank of England -- market expects more QE

ECB -- market expects 25 basis point rate cut