“This super destructive Japan earthquake is going to cause American interest rates to jump a percent or two or three — possibly more. Indeed, the Japanese are the number one buyer of U.S. debt bonds. Can’t they cash a load of them in to redeem for reconstruction cash? If they try that the Americans will [...]
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“We could see $220 a barrel should both Libya and Algeria halt oil production. We could be underestimating this as speculative activities were largely not present in 1990-1991,” said Michael Lo, the bank’s oil strategist. Commodity analysts at Nomura Holdings Inc. said. Brent crude prices could double to $220 per barrel in the coming weeks [...]
“What is happening in Wisconsin clearly shows a disconnection with reality in an economy that has forced many private-sector workers into lower wages and reduced benefits, if they were lucky enough to keep their jobs at all. The outcome of this battle could impact other states where cuts are looming, as well. As this story [...]
“Zoellick said he expects food prices to continue to rise, and that export bans and weather disruptions are partly to blame.” He also said global food prices have hit “dangerous levels” that could contribute to political instability, push millions of people into poverty and raise the cost of groceries. After watching the quality of food [...]
“Inflation has exhausted people. Prices of food, fuel, electricity, sugar are rising. The rich get richer and the poor poorer,” said a Cairo taxi-driver, declining to be named. “God knows what will happen today. After Tunisia anything is possible.” The Egyptian capital Cairo was the scene of violent chaos Friday, when tens of thousands of [...]
“This is obviously very worrying, just at a time before the VAT increase hits so this looks awfully like the UK is headed back to double-dip,” Blanchflower told CNBC. “I think people have underestimated the sheer size of this shock,” he said. Britain’s “awful” gross domestic product figure for the fourth quarter is pushing the [...]
“China, in bailing out Europe, is asking for its goods to be allowed in without barriers .. We hope that the EU will relax restrictions on high-tech exports to China … and develop trade relations that are balanced and sustainable,” Mr. Li wrote in an op-ed titled, “China will be more open to the world” [...]
“The fuel price hike – which protesters were calling the “gasolinazo” – caused the cost of transport to soar, and pushed all food prices up.” — BBC News Bolivian President Evo Morales has rescinded a decree which raised fuel prices by more than 70% and sparked civil unrest. Mr Morales reversed the price rises introduced [...]
“If the world economy gets better, commodities are going to go up in price because there are shortages. If the world economy does not get better, you should own commodities, because (central banks) are going to print more money,” he said. “Real assets are the way to protect yourself.” (Reuters) – U.S. government inflation data [...]
“We’re talking about huge sums of money going to bail out large foreign banks,” said Senator Bernard Sanders, the Vermont independent who wrote the provision in the Dodd-Frank Act that required the Fed disclosures. “Has the Federal Reserve become the central bank of the world? I think that is a question that needs to be [...]
“Inflation came in hotter than expected. Markets were expecting to see a 2.2% increase in headline inflation but it came in at 2.4%. The more important piece of information is what happened to core inflation because I think markets will largely look past the increase in energy prices. The more important issue is that the [...]
“Allied Irish Banks announced Friday it has lost a staggering euro13 billion ($18 billion), or 17 percent, of its total deposit base since June in the latest evidence of cash flight from Ireland’s debt-crippled banking sect.” As a result, the bank said it now planned to try to sell euro6.6 billion ($9.05 billion) in new [...]
“The economist who received an award for being the first to sound the alarm on the U.S. housing bubble, is warning the same could happen in Canada if we aren’t careful. Dean Baker with the Centre for Economic Policy and Research says housing prices here might collapse if interest rates rise by about two percentage [...]
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