Archive for December, 2012
Yesterday, the EU Commission released updated analysis of state aid expenditures, covering 2012 data. The document, titled “State aid Scoreboard 2012 Update Report on State aid granted by the EU Member States – 2012 Update” is available here.
Here are some interesting bits:
“Between 1 October 2008 and 1 October 2012, the Commission approved aid to the financial sector totalling €5,058.9 billion (40.3% of EU GDP). The bulk of the aid was authorised in 2008 when €3,394 billion (27.7% of EU GDP) was approved, mainly comprising guarantees on banks’ bonds and deposits. After 2008, the aid approved focused more on recapitalisation of banks and impaired asset relief rather than on guarantees, while more recently a new wave of guarantee measures was approved mainly by those countries experiencing an increase in their sovereign spreads, such as Spain and Italy.
full article at source:http://trueeconomics.blogspot.ie/2012/12/23122012-state-aid-in-eu27-ireland.html
see also follow up at this link:http://trueeconomics.blogspot.ie/2012/12/23122012-state-aid-in-eu27-ireland.html
The US market opened lower to start the week, continued lower for much of the holiday shortened week, and ended giving back all of last week’s gains. For the week the SPX/DOW -1.9%, and the NDX/NAZ were -2.1%. Asian markets gained 1.8%, European markets lost 0.7%, and the DJ World index lost 0.7%. On the economic front positive reports continued to outnumber negative reports: 7 to 2. On the uptick: Case-Shiller, new/pending home sales, new home prices, the Chicago PMI, the WLEI and weekly jobless claims improved. On the downtick: consumer confidence, and the monetary base. Next week the monthly Payrolls report, ISM and Auto sales. Best your week!
Stock Market Overview
With the bull market stumbling we decided to take a look at the leading sectors that have supported this bull market. Leading sectors shift from one group to another group in alternating bull markets. This bull market’s leaders have been the Techs and Industrials, naturally, plus Consumer discretionary (XLY) and staples (XLP).
Typically when a bull market nears its end, the leading sectors are usually displaying five wave patterns up, from the bear market lows, and then start to head lower. A quick review of XLY, XLP and the NDX for techs displays this potential pattern. The industrial DOW will follow shortly:
full article at source: http://www.marketoracle.co.uk/Article38270.html
We wanted to take this opportunity to look back at some of the incredible accomplishments you made possible in 2012.
∗ We surpassed $380M in loans to over 940,000 borrowers in66 countries, all while maintaining a 99% repayment rate.
∗ We realized our dream of launching in India by partnering with three remarkable organizations that serve the country’s poorest people.
∗ We expanded our scope with unique loans for higher education, clean drinkingwater, quality health care, fair trade goods and much more.
Kiva was founded so that anyone could be part of the fight against global poverty. Thank you for helping make that vision a reality.
We’re inspired to do even more in 2013, and we’d love your help. Consider making a year-end donation to Kiva. With your continued support, we’ll all be able to empower business owners, students, farmers and families around the world.
We truly appreciate your support, Matt Flannery
Thank you for sharing this very important information we must continue to raise our collective voices when we see fraud and the criminals who continue to suck our country dry must be left in on doubt that we the people will call them to account for their crimes in the not too distant future. On a different topic I was reliably informed that one of the developers who is at the heart of our countries financial disaster was living it up at the Ritz in powerscourt yesterday (A one Johnny Ronan). There is no Justice in this country our politicians are in the pockets of people like this man and they are leaving a wake of misery behind themselves as the ordinary people of Ireland have to contend with poll taxes and slashed community services. If you have an ounce of moral fibre you would support the brave patriots all around the country who are desperately trying to highlight the total absence of moral justice as the likes of this leach and his fellow millionaires screw us for all they can get! Our political system is fixed in favour of the status quoi that allows conmen and parish pump chancres dictate government policy from hidden moneymen whose vested interests are protected as we the ordinary people become financial slaves.
People of Ireland get up off your knees and taste the fresh air of freedom your God given right!