World economy talk

[uls]

been following a broker called Jefferies

market is concerned about Jefferies' EU sovereign debt exposure

Jefferies says exposure is small

some Jefferies customers have been talking to other brokers

report that some Jefferies customers have signed up with other brokers

watch Jefferies

could be something

or nothing

[pup2]

Isnt it surprising how many supposedly 'developed' countries have worse Debt-GDP ratios than us? Or is it BECAUSE they're developed kaya sila malakas mangutang? Cause by that token, the only large, developed countries would be Switzerland, China, and Aus/NZ!

[eld]

They're all socialist countries. And socialist states need to borrow heavily to fund their freeloading programs because 50% tax rates (which stifles domestic consumption) are not enough.

I want to see these freeloading states burn.

[uls]

Jefferies Cuts Sovereign Holdings; Stock Rises - Bloomberg

Jefferies Group Inc. (JEF) climbed as much as 8.5 percent after it cut gross holdings in sovereign securities of Portugal, Italy, Ireland, Greece and Spain by almost 50 percent since last week’s close of trading to show how easily it can reduce funds at risk.

[uls]

Isnt it surprising how many supposedly 'developed' countries have worse Debt-GDP ratios than us? Or is it BECAUSE they're developed kaya sila malakas mangutang?

low rates encourage borrowing (like when poorer European countries joined the EU they enjoyed low rates coz they were riding on the richer countries' creditworthiness)

then the bond market noticed that their governments don't have enough revenue to service the debt (coz nobody pays taxes) and started demanding higher rates... then they got in trouble (like what happened to Greece etc)

but in the case of the US there's always demand for USG bonds. the US can keep on borrowing coz the US owns the world's reserve currency. every country in the world has to earn and save dollars and THE dollar savings instrument is USG bonds so the world has no choice but to put their dollar savings in USG bonds. since the US borrows in its own currency it can print money to pay debt so no problem

the Phils. cannot print dollars so when the Phils. borrows in dollars it has to have dollars to pay dollar debt (thanks OFWs). without OFW remittances the bond market would have demanded very high rates (thanks OFWs)

[eld]

Sana tumaas pa ang piso para lalong mahirapan ang mga OFWs and families.

Sila ang dahilan kung bakit ang mamahal ng mga bilihin sa Pilipinas.

[uls]

Sana tumaas pa ang piso para lalong mahirapan ang mga OFWs and families.

Sila ang dahilan kung bakit ang mamahal ng mga bilihin sa Pilipinas.

hahaha

aside from OFWs salamat din sa BPO industry

[eld]

Although the bulk of the country's $$$ comes from exports. About a third of GDP. And why they call OFWs as Bagong Bayanis is beyond moi.

[uls]

Iran nuclear report: IAEA claims Tehran working on advanced warhead | World news | The Guardian

The UN's nuclear watchdog will publish new details on Wednesday on alleged Iranian work on an advanced design for a nuclear warhead developed with the help of a former Soviet scientist, according to nuclear experts.

The report by the International Atomic Energy Agency (IAEA), which will also identify a suspect site where warhead components have been tested, is the most detailed presentation to date of its evidence for recent nuclear weapons research in Iran.

It is expected to raise tensions in an already volatile region, amid reports that Israel, the US and the UK are weighing military options aimed at setting back the Iranian nuclear programme. Israeli officials are telling western capitals that the report represents the "last chance" for a peaceful resolution to the Iranian nuclear crisis.

[Monseratto]

The Zionists in Judea will use the Begin Doctrine to blast those nuke plants to kingdom come, and then expect the Persians not to respond in kind...:P :P Let World War 3 begin.