Libertad, Igualdad, Pluralidad. News / Noticias

United States: « Taxargeddon » will begin from summer 2012 – The US economy in free-fall by autumn

In short, one must expect a paralysis in economic activity affecting between 1% and 2% of US GDP from September/October 2012 simply due to markets freezing up and putting the economic players involved on “stand-by”: Pentagon procurement agreements, military R&D programmes, suppliers/private partner contracts for US social programs, the health industry… With an already dying economy , the growing strength of “Taxmargeddon” thus guarantees a strong US recession from the 3rd quarter of 2012. Major businesses like local service providers, federal social services like municipal services or at states’ level… all will be affected . Little broadcast by the major American media, panic is starting to grip the leaders of whole sectors of the country’s economy. Let’s remember, as our team has emphasized for several years, that at the time of this crisis the US economy has in fact become very heavily dependent on federal financing. Even if many Americans aren’t aware of it, they have been living in a “socialist” country for a long time. However what could be worse in a system where State financing plays a central role to suddenly see this money drying up! Ask Eastern Europeans of the 1980/1990s, they will tell you. Behind the « Greek mouse » and the « end of the Euro smokescreen », here’s the 800 pound gorilla in the room!  LEAP/E2020 - Excerpt GEAB N°66 (June 2012) 

http://www.chinadaily.com.cn/china/2012-08/29/content_15716517.htm

China has said that it could face "uncertain factors" in its wheat and corn harvests for the rest of the year, as prospects for many global agricultural products exporters, such as the United States, are also bleak due to excessive heat.  China Daily

Even talk of a gold standard would boost the price

What would it take to break the gold price out of the $1,600 to $1,700 an ounce range in which it has been trading for the past year? Another massive blast of quantitative easing from the Federal Reserve? A final breakdown of the euro? A war between Israel and Iran?  Market Watch 

China Retailers Lose Steam, Deepening Wen’s Challenges

China’s retailers from clothing to computers are reporting weaker sales growth, undermining Premier Wen Jiabao’s goal of relying more on consumer spending for expansion as the economy cools.  Bloomberg

The US Economy and the Future of Growth: Well This Is Depressing 

The United States has produced one of the most successful economic stories in human history. We've had a lot of inherent advantages: abundant natural resources, favorable demographic trends, relative political stability supported by the protective benefit of two oceans, to name a few.  CNBC

Les crédits aux entreprises continuent à ralentir

Les entreprises qui souffrent le plus sont les holdings et administrations d'entreprises, qui subissent une chute de 10,4 % des crédits entre juin 2011 et juin 2012. Les secteurs de l'industrie manufacturière et de l'information et de la communication se replient également.  Le Figaro

Socialists Ride Wave of Anti-EU Sentiment

The economy is in trouble and unemployment is rising -- in the Netherlands as in much of the rest of Europe. Ahead of upcoming elections, the Socialists are riding a wave of euro-skepticism and may emerge as the strongest political force in the country.   Der Spiegel

U.S. Drought Boosts Brazilian Agriculture

While consumers across the globe are currently struggling with higher food prices caused by the worst U.S. drought in half a century, Brazilian farmers are enjoying bumper sales and a surge up the agricultural league tables.  The Rio Times

Support grows for European Redemption Pact

As the eurozone is laboring under the debt crisis in its Southern periphery, German economists have proposed a debt redemption fund to stabilize the current situation. But Berlin has not yet warmed to the idea.  Deutsche Welle

Petit à petit, l’Angola fait son nid

Banques, sociétés pétrolières, médias, agroalimentaire... Aiguisé par la crise, l'appétit des Angolais pour les entreprises portugaises semble insatiable. Le manque d'argent, d'un côté, et son abondance de l'autre expliquent cette tendance. De même que la proximité politique des deux pays.  PressEurop

 

Le Secrétaire général participera au Sommet du Mouvement des non-alignés à Téhéran

Placé sous la Présidence de la République islamique d'Iran, ce Sommet devrait réunir les dirigeants des 120 pays qui sont membres du NAM, ainsi que de nombreux pays observateurs. Ces derniers jours, selon les médias, des appels auraient été adressés par Israël et les États-Unis au Secrétaire général pour qu'il boycotte la réunion.  UN.org

U.S. Arms Sales Make Up Most of Global Market

Weapons sales by the United States tripled in 2011 to a record high, driven by major arms sales to Persian Gulf allies concerned about Iran’s regional ambitions, according to a new study for Congress.  New York Times

Investors and economists agree: No QE3

More stimulus from the Federal Reserve would probably boost the stock market, but regardless, both investors and economists agree: They don't want QE3. In a CNNMoney survey of investment strategists, 93% said they don't think the Federal Reserve should announce more stimulus at its next meeting. And 77% of economists surveyed agreed.  CNN Money

What Can Be Done to Fix UK Banks’ Reputations?

UK banks are facing a crisis of confidence – according to recent polls, they are less popular and trusted than politicians or tabloid journalists. This level of opprobrium is not without cause. A series of scandals have ensured that almost every level of society from ordinary savers through small businesses, institutional shareholders – and of course politicians – feels that they have a reason to resent banks.   CNBC

Merkel Reins In Greek Exit Talk in Euro’s Decisive Phase

Asked about comments by a party leader calling for Greece to leave the 17-nation currency, Merkel told ARD television that such comments were damaging as crisis fighting reaches a “decisive phase.” Alexander Dobrindt, general secretary of the governing Bavarian Christian Social Union, told Bild newspaper that Greece wouldn’t be part of the euro in 2013.  Bloomberg

Unilever prépare le retour de la pauvreté en Europe

Unilever revoit sa stratégie en Europe en tablant sur le retour de la pauvreté sur le Vieux Continent. Pour ce faire, le groupe envisage de réduire ses conditionnements afin de rendre les produits meilleur marché.   La Tribune

Guest Post: The Fantasy of Debt: No Trade-Offs, No Sacrifices 

Easy, cheap credit has created a fantasy world where everyone "deserves" everything right now, and trade-offs and sacrifice have been banished as unnecessary. Debt offers a compelling fantasy: there is no need for difficult trade-offs or sacrifices, everything can be bought and enjoyed now. In the old days when credit was scarce and dear, buying a better auto required substituting 1,000 brown-bag lunches for restaurant meals: yes, four years of daily sacrifice.  ZeroHedge  
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