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Keyword: worldeconomy

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  • IMF revises up global growth forecast helped by Trump tax cuts

    01/22/2018 6:54:01 AM PST · by BenLurkin · 1 replies
    Reuters ^ | 01/22/2018
    It also said that economic activity in Europe and Asia was surprisingly stronger than expected last year, and global growth in 2017 was now estimated to have reached 3.7 percent, 0.1 percentage point higher than the Fund projected in October. “The U.S. tax policy changes are expected to stimulate activity, with the short-term impact in the United States mostly driven by the investment response to the corporate income tax cuts,” the IMF said in the update, which was released on the sidelines of the World Economic Forum in Davos, Switzerland. “The effect on the U.S. growth is estimated to be...
  • The Economist: Trump presidency one of top 10 global risks

    03/16/2016 9:22:18 PM PDT · by Citizen Zed · 42 replies
    The Hill ^ | 3-16-2016 | Mark Hensch
    The Economist magazine on Wednesday named a potential Donald Trump presidency as one of its top 10 global risks. “In the event of a Trump victory, his hostile attitude to free trade, and alienation of China and Mexico in particular, could escalate rapidly into a trade war — and at least scupper the Trans-Pacific Partnership [TPP] between the U.S. and 11 other American and Asian states signed in February 2016,” the Economist Intelligence Unit wrote in its assessment. “His militaristic tendencies towards the Middle East (and ban on all Muslim travel to the U.S.) would be a potent recruitment tool...
  • U.N. Climate Chief: We're 'Intentionally' Transforming The World Economy

    02/07/2015 9:24:59 AM PST · by BlatherNaut · 58 replies
    Truth Revolt ^ | 2/6/15 | Bradford Thomas
    The United Nation’s top climate change official Christiana Figueres announced this week that the group is actively working to "intentionally transform" the world's economic development model, a task she called the "most difficult" one the group has ever undertaken. "This is probably the most difficult task we have ever given ourselves, which is to intentionally transform the economic development model, for the first time in human history," UNFCCC Executive Secretary Figueres stated at a press conference in Brussels Tuesday. The "intentional" reordering of the global economy, she told reporters, "will not happen overnight" due to the "depth of the transformation":...
  • IMF Paper: Debt-Ridden Western Nations May Resort to ‘Financial Repression’

    01/07/2014 4:18:43 AM PST · by IbJensen · 21 replies
    CNS News ^ | 1/3/2013 | Brenda Hollingsworth
    ( – The highest debt-to-GDP levels in 200 years could force advanced Western nations to adopt “financial repression” measures typically reserved for economically unstable debtor nations, including mass write-offs and a tax on savings, warns a working paper published last week by the International Monetary Fund (IMF). According to “Financial and Sovereign Debt Crises: Some Lessons Learned and Those Forgotten,” a working paper written by two Harvard economists who used to work at the IMF, “there are essentially five ways to reduce large debt-to-GDP ratios: 1. Economic growth; 2. Fiscal adjustment- austerity; 3 .Explicit default or restructuring; 4. Inflation surprise;...
  • Poof: Public says America's world leadership has tumbled to 40-year low (Video Reort)

    12/03/2013 8:37:51 PM PST · by Ernest_at_the_Beach · 17 replies
    Washington Examiner ^ | DECEMBER 3, 2013 AT 3:17 PM | PAUL BEDARD |
    <p>For the first time in nearly 40 years, a majority of Americans believe the United States is less important around the world and that it should mind its own business, a stunning rejection of President Obama’s foreign policy just four years after he received the Nobel Prize.</p>
  • OECD: Europe remains threat to world economy

    05/29/2013 1:56:15 PM PDT · by Olog-hai · 4 replies
    Associated Press ^ | May 29, 2013 1:35 PM EDT | Greg Keller
    The recession in Europe risks hurting the world’s economic recovery, a leading international body warned Wednesday. In its half-yearly update, the Organization for Economic Cooperation and Development said that protracted economic weakness in Europe “could evolve into stagnation with negative implications for the global economy.” The OECD again slashed its forecast for the economy of the 17-country eurozone, saying it will shrink by 0.6 percent this year, after a 0.5 percent drop in 2012. The OECD had predicted a 0.1 percent decline for the eurozone in its report six months ago—and this time last year, it forecast growth of nearly...
  • Jim Rogers: Taking people's bank accounts is going to happen

    03/28/2013 2:00:26 PM PDT · by Beave Meister · 82 replies ^ | 3/28/2013 | : Kenneth Schortgen Jr.
    On March 28, billionaire investor Jim Rogers appeared as a guest on the CNBC program, Squawk on the Street. During the four minute interview, Rogers was pointedly asked if what occurred in Cyprus was a one time deal, or if this is now a template for the future of Western economies and banks. Without hesitation, Rogers said that this is going to happen, and taking people's money from their bank accounts is a certainty as both the IMF and ECB have already condoned it in their precedent. CNBC Host Carl Quintinella: What's your appetite on Europe at these levels? Jim...
  • Panetta: Iran Strike Could Impact World Economy

    11/18/2011 12:47:58 AM PST · by Eleutheria5 · 33 replies
    Arutz Sheva ^ | 18/11/11 | Elad Benari
    U.S. Defense Secretary Leon Panetta said on Thursday he would raise American concerns about the unintended consequences of any military action against Iran during his upcoming meeting with Defense Minister Ehud Barak, Reuters reported. Panetta and Barak are due to meet on Friday in Halifax, Canada. Speaking to reporters traveling with him to Canada, Panetta said the United States believed the most effective way to confront Iran still was to use diplomatic pressure and sanctions. “Obviously to go beyond that raises our concerns about the unintended consequences that could result,” Reuters quoted Panetta as having said. Echoing remarks he made...
  • Strike by Greek civil servants shuts down govt

    10/05/2011 6:36:17 AM PDT · by facedown · 19 replies
    Yahoo Finance/AP ^ | October 5, 2011, 7:31 am EDT | Elena Becatoros and Menelaos Hadjicostis
    ATHENS, Greece (AP) -- Angry and frustrated, Greek civil servants walked off the job Wednesday, paralyzing the government and public transport to protest ever-deeper austerity measures and seemingly ineffectual financial policies. As Greece struggles to avoid a catastrophic default, demonstrators in Athens expressed outrage over their misfortune and bewilderment at a crisis that shows no signs of easing. "Nobody knows what's going on. Every day they say something different. It's all so unclear," said Irini Sypsomou-Arapogianni, a 57-year-old Finance Ministry employee. "I don't know where all this will lead."
  • Putin Calls U.S. Economic Parasite

    08/03/2011 12:03:33 PM PDT · by bananaman22 · 14 replies ^ | 03/08/2011 | Dr. John C.K. daly
    Don’t expect to see Russian President Vladimir Putin invited to the White House for a sleepover in the Lincoln Bedroom anytime soon. Vladimir Vladimirovich has committed the unpardonable diplomatic sin of speaking bluntly. Like Sherriff Woody from the Pixar movie “Toy Story,” Putin has declared “there’s a snake in my boot,” only in this case, it’s the U.S., which he labels a “parasite” on the global economy. Addressing a gathering of the pro-Kremlin youth group Nashi at their summer camp near Moscow Putin commented, "They are living beyond their means and shifting a part of the weight of their problems...
  • Bedbug experts bring samples to Chicago-area hotel (This Is Hugh!)

    09/21/2010 7:33:58 PM PDT · by PROCON · 44 replies · 14+ views
    AP ^ | Sep. 21, 2010 | MARK D. CARLSON
    ROSEMONT, Ill. (AP) - Bedbug experts gathered in a Chicago suburb this week to talk about the pests that are running rampant in the Northeast. Athletic clothing and shoe maker Nike Inc. said Sunday it was temporarily closing its Niketown store in New York City after it became the latest victim of the bloodsucking pests. Reports of bedbugs have surged in recent years as they have become resistant to common pesticides.
  • Remarks by President Obama and President Medvedev of Russia at the U.S.-Russia Business Summit

    06/25/2010 3:42:17 AM PDT · by Cindy · 19 replies ^ | June 24, 2010 | n/a
    NOTE The following text is a quote: Home • Briefing Room • Speeches & Remarks The White House Office of the Press Secretary For Immediate Release June 24, 2010 Remarks by President Obama and President Medvedev of Russia at the U.S.-Russia Business Summit U.S. Chamber of Commerce, Washington, D.C. 3:08 P.M. EDT PRESIDENT OBAMA: Well, good afternoon, everybody. It is a pleasure to be here with my friend and partner, President Medvedev, and I want to thank him again for his leadership, especially his vision for an innovative Russia that’s modernizing its economy, including deeper economic ties between our...
  • Government Expanded 'Like a Cancer': Marc Faber

    06/17/2010 5:57:58 AM PDT · by UniqueViews · 376+ views
    CNBC ^ | 17 June 2010 | Marc Faber
    Luis Marino, a Peruvian immigrant who ran as a Democrat, was among the victors Tuesday in the first local election since a federal judge ordered Port Chester to adopt a new voting system to give Latinos a better shot at electing one of their own to the six-member board. The electoral system itself made news, letting voters use six votes however they chose, including casting all six for one candidate. One Republican who won, Joseph D. Kenner, was the first black candidate elected to the board. “I think the results are clear — that
  • Forget Euro $1.30: Here's The New Crucial Level, And Here's When To Bet On A Turnaround

    05/06/2010 6:10:34 AM PDT · by blam · 15 replies · 926+ views
    The Business Insider ^ | 5-6-2010 | Joe Weisenthal
    Forget Euro $1.30: Here's The New Crucial Level, And Here's When To Bet On A Turnaround Joe Weisenthal May. 6, 2010, 5:05 AM It was a pretty violent night in euroland, with the battered currency trading in the $1.27s before trading back above $1.28. The $1.30 "support" level that everyone was obsessed with a couple days ago is a fond memory. So what's next? $1.25? $1.20? Mike O'Rourke of BTIG explains what you should be looking out for: The (chart) below highlights the key 1.25 support level which coincides with the October-November 2008 and February-March 2009 bottoms the currency made...
  • What Happens If Greece Really Defaults?

    03/16/2010 12:25:38 AM PDT · by ErnstStavroBlofeld · 29 replies · 1,204+ views
    U.S. News via Yahoo Finance ^ | 3/16/2010 | Matthew Bandyk
    Earlier this week, Greek Prime Minister George Papandreou traveled to the United States to promote a message: We're in this together. The debt crisis that has threatened the Greek economy and the stability of the European Union's monetary policies "very much involves America's interests," Papandreou stated in a speech at the Brookings Institution in Washington. The prime minister--who was born in St. Paul, Minn.--even connected the current crisis to the Great Depression as well as the Great Recession. "If the European crisis metastasizes, it could create a new global financial crisis with implications as grave as the U.S.-originated crisis two...
  • Dubai Wants Billion-Dollar Debt Suspension

    11/25/2009 4:11:00 PM PST · by La Enchiladita · 16 replies · 1,232+ views
    Sky News ^ | 11/25/09 | Jo Couzens
    Dubai is asking creditors to accept a six-month suspension on debt repayments for its severely cash-strapped conglomerate Dubai World. The government of the Gulf emirate has also appointed consultants Deloitte to restructure state-run Dubai World's operations. The group includes property developer Nakheel, which built one of the state's most ostentatious projects, the palm-shaped, man-made residential islands of the Palm Jumeirah. The conglomerate also includes DP World, owner of the former P&O ports operator. According to Nakheel, Dubai World has $59bn (£35bn) of liabilities, a large proportion of Dubai's total debt of $80bn (£47bn). The emirate's government said in a statement:...
  • Brazil (Rio) Unemplymnt Down(8%), Economy Growing (US 3 Decade Worst in Unemployment, nears 10%)

    10/02/2009 3:43:10 PM PDT · by xzins · 39 replies · 2,220+ views
    SAO PAULO (AP) -- Brazil says unemployment has decreased for the third month in a row, showing that Latin America's biggest economy is recovering from the global crisis. The government's statistics agency says the jobless rate decreased to 8.1 percent in June from 8.8 percent in the previous month, the third consecutive reduction since it reached 9 percent in March. There was no change compared to June last year. The economy has been rebounding in part because of tax breaks in the automobile, construction and home appliance sectors, increased government spending and easier access to credit for small businesses. snip...
  • Dollar under scrutiny at G20 summit

    09/24/2009 8:18:57 AM PDT · by BAW · 24 replies · 1,663+ views
    Yahoo News ^ | 9-24-2009 | P.Parameswaran
    The embattled US dollar is expected to come under scrutiny at a summit of developing and industrialized nations following China-led calls to review its role as a reserve currency. The dollar issue is bound to surface at the two-day meeting in Pittsburgh as US President Barack Obama and other leaders of the Group of 20 economies debate a new framework for tackling the so called global "economic imbalances" blamed for fuelling the latest financial crisis. "Though not clear how the plan would be enforced, it would involve measures such as the US cutting its deficits and saving more, China reducing...
  • UPDATE:World Wealth Dn 19.5% In '08,Wipes Out Two Yr Gains-Report

    06/24/2009 9:59:41 AM PDT · by Kartographer · 6 replies · 274+ views
    WSJ/DowJonesNewswires ^ | 6/24/09 | Shelly Banjo
    In 2008, the world's population of high-net-worth individuals - those with at least $1 million in investable assets excluding primary residences - fell by 14.9% to 8.6 million and their wealth dropped 19.5% to $32.8 trillion, according to the 13th annual World Wealth Report, compiled by Bank of America Corp.'s (BAC) Merrill Lynch Global Wealth Management and Capgemini Group. In 2007, the same population grew by 6% to 10.1 million and marked the beginning of a deceleration in wealth from the 11.4% growth witnessed in 2006.
  • Secretary Timothy F. Geithner Remarks before The Economic Club of Washington

    04/25/2009 4:55:22 PM PDT · by Cindy · 6 replies · 413+ views
    Note: The following text is a quote: April 22, 2009 TG-97 Secretary Timothy F. Geithner Remarks before The Economic Club of Washington As Prepared for Delivery Thank you, David. I appreciate the chance to speak to the Economic Club of Washington. I want to talk today about the global nature of the current financial and economic crisis. I will offer an update on our efforts to bring the crisis to a close and set the stage for a new, more balanced prosperity in the future. The world economy is going through the most severe crisis in generations. We each face...