www.presstv.com Max’s guest for this week’s show is Karl Denninger who is the founder of market-ticker.org. Karl gives some predictions on the US economy in the New Year. He is downbeat and forecasts a terrible year for the housing, banking and myriad of sectors. He says the Europe would also disintegrate and says people there will have a weaker euro in parity with the dollar. China will also break the peg and people would see a rise in commodity price, bubble assets and less export to the US. Enjoy the show.
2010 www.amazon.com Watch more clips: thefilmarchived.blogspot.com United States President Barack Obama and key advisers introduced a series of regulatory proposals in June 2009. The proposals address consumer protection, executive pay, bank financial cushions or capital requirements, expanded regulation of the shadow banking system and derivatives, and enhanced authority for the Federal Reserve to safely wind-down systemically important institutions, among others. In January 2010, Obama proposed additional regulations limiting the ability of banks to engage in proprietary trading. The proposals were dubbed “The Volcker Rule”, in recognition of Paul Volcker, who has publicly argued for the proposed changes. The US Senate passed a regulatory reform bill in May 2010, following the House which passed a bill in December 2009. These bills must now be reconciled. The New York Times provided a comparative summary of the features of the two bills, which address to varying extent the principles enumerated by the Obama administration. For instance, the Volcker Rule against proprietary trading is not part of the legislation, though in the Senate bill regulators have the discretion but not the obligation to prohibit these trades. A variety of other regulatory changes have been proposed by economists, politicians, journalists, and business leaders to minimize the impact of the current crisis and prevent recurrence. None of the proposed solutions have yet been implemented. These …
Algirdas Šemeta, Member of the EC in charge of Taxation and Customs Union presented the communication on taxation financial sector, the European Commission just adopted on the occasion of its weekly meeting. The text sets European Commission’s recommendations on options for taxing the financial sector at global and EU level. The Communication addresses the contribution that the financial sector could make to repairing the financial system and feeding public budgets, and will look at what the best policy options could be. The European Commission presented an objective analysis paper on taxation of the financial sector to EU Finance Ministers at the ECOFIN on 7 September, in order to give shape to the debate on this subject. This paper focused on two main tax instruments: the Financial Transactions Tax and the Financial Activities Tax, analysing both their advantages and drawbacks. The European Commission has also been active in promoting the idea of a Financial Transaction Tax at global level amongst its international partners, in particular at the G20 meeting in Toronto in June.
The informal Economic and Financial Affairs Council is taking place in the Egmont palace, in Brussels. Ministers will discuss points on the agenda which include the creditworthiness of public finances, the trans-Atlantic agenda for the reform of the financial sector and preparation for the important meetings of the G20 and the IMF. Other subjects to be treated during this informal meeting are the restoration of the public finance credibility within the framework of the Stability and Growth Pact reform as well as the budget consolidation target. Source-EbS
May 24 (Bloomberg) — Jim Bianco, president of Bianco Research LLC, talks with Bloomberg’s Matt Miller about Europe’s financial crisis. (This is an excerpt of the full interview. Source: Bloomberg)
May 17 (Bloomberg) — Matthew Bishop, New York business editor for The Economist and author of “The Road from Ruin: How to Revive Capitalism and Put America Back on Top,” talks with Bloomberg’s Matt Miller and Carol Massar about financial regulation in the US Bishop also discusses Europe’s financial crisis and the outlook for the euro, and the US economy. (Source: Bloomberg)
Financial crisis and international change: historian Niall Ferguson on past financial emergencies and whether the current crisis in American credit markets will result in power flowing from West to East. Monday September 29 2008
Crisis Preparation and Planning requires an understanding of the current crisis status. If you would like to understand how this crisis affects you, then the crisis template will help you to maneuver through the coming storm. It is a simple but powerful crisis template, applicable to many situations, not only the financial crisis. The objective is to deliver a better understanding of the two phases in crisis situations and to take precautions and prepare oneself just at the right moment….
Most likely the trust in a market recovery is going to disappear. The Obama administration has failed to deliver on its promises and markets have been under extreme stress. It is time to prepare for times in which banks become disfunctional
