Wednesday, July 08, 2015
Budget 2015 - Child Tax Credits to Be CUT, Payments Limited to 2 Children / Politics / UK Tax & Budget
By: Nadeem_Walayat
The newly elected Conservative government is finally about to take grip of Labours benefits culture voter bribes Working and Child Tax Credits black hole that has grown far beyond its initial budget of £2 billion to today's annual monster of £30 billion, that also plays a large part in Britain's immigration crisis as being one of the primary reasons well over one hundred thousand families annually relocate from Eastern Europe to the UK to profit from low paid jobs coupled with generous in work benefits such as tax credits and housing benefit that results in doubling or even tripling of family incomes that typically approaches TEN times similar family incomes of right across Eastern Europe.
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Tuesday, July 07, 2015
Greece Debt Crisis to Trigger Euro-zone Credit Freeze, Expiry of Greek Euro Bank Notes / Stock-Markets / Eurozone Debt Crisis
By: Nadeem_Walayat
According to to Syriza politicians, Tsipras and Varoufakis a NO vote would have delivered the Greek people victory in its negotiation with the Troika with promises of an agreement already on the table and of course the banks would reopen Tuesday. Which just like a string of promises made for the whole of 2015 have proved totally worthless propaganda aimed at convincing a delusional Greek electorate that a paradise of sorts was awaiting them if only they voted NO / committed mass suicide, the reality of which is only slowly starting to dawn on an increasingly panicky Greek people who are experiencing economic collapse accelerate on a daily basis.
Tuesday, July 07, 2015
Greece is Just the First of MANY Countries That Will Be Going Belly-Up / Economics / Global Debt Crisis 2015
By: Graham_Summers
ALL of the so called, “economic recovery” that began in 2009 has been based on the Central Banks’ abilities to rein in the collapse.
The first round of interventions (2007-early 2009) was performed in the name of saving the system. The second round (2010-2012) was done because it was generally believed that the first round hadn’t completed the task of getting the world back to recovery.
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Tuesday, July 07, 2015
Greece Will Lead the West Into a Debt Implosion / Interest-Rates / Global Debt Crisis 2015
By: Graham_Summers
For over 30 years, sovereign nations, particularly in the West have been buying votes by offering social payments in the form of welfare, Medicare, social security, and the like.
When actual bills came due to fund this stuff, Governments quickly discovered that current tax revenues couldn’t cover it (see the image below)… so they issued sovereign debt to make up the difference.
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Tuesday, July 07, 2015
Stock Market Panic Decline May be About to Begin / Stock-Markets / Financial Crash
By: Anthony_Cherniawski
SPX appears to be bouncing from the Broadening Wedge trendline and retesting the neckline of its Head & shoulders formation. The lack of any meaningful bounces here is profound.
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Tuesday, July 07, 2015
SPX Sinking Premarket / Stock-Markets / Stock Markets 2015
By: Anthony_Cherniawski
The retracement appears to be playing out in the futures. The Wave (a) high was 2078.94 on July 2 while the overnight futures appear to have topped out in a 9-wave (c) at 2077.94. It is still unclear whether it will continue to rally after the open, but the futures favor a failurs.
The Premarket is still positive, up .75 while the futures are down -7.80 as I write. The Cycles Model suggests we may still rally today. The Cycles Trading Channels suggest a possible top near 2082.65, which is very close to the Ending Diagonal trendline.
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Tuesday, July 07, 2015
Greece Crisis and the Top Demographic Trends of Our Time / Economics / Demographics
By: Harry_Dent
Greece is not the place to be right now.Its citizens are capped out at $67 a day on the ATM. Its pensioners are pinching pennies. Its doctors are leaving in droves. Its long-term demographics are deplorable, making the chances for recovery more and more abysmal. It’s a nightmare!
I’ve already explained that large-scale debt deleveraging will be one of the triggers that sends the global economy back into crisis. Now that Greece has defaulted on its $1.7 billion IMF payment, they’re looking more and more like the beginning of the end.
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Tuesday, July 07, 2015
The Uber Economy / Economics / Economic Theory
By: Rodney_Johnson
On a recent trip to the D.C. area, I needed a ride to the Baltimore airport. I dreaded calling a cab, since I knew the ride would be over $100 and the cab itself might make the 30-minute ride less than pleasant. So I took the occasion to hail an Uber car.The car arrived at 6:10am, and I had a very pleasant ride to the airport in a recent model Volvo S60.
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Tuesday, July 07, 2015
Marc Faber Warns: “Wake Up, People Of The World! Greece Will Come To You …Very Soon” / Stock-Markets / Eurozone Debt Crisis
By: Bloomberg
- World is “over-indebted”, Mark Faber tells Bloomberg
- “Defaults will follow or they will have to create very high inflation rates”
- Greece will leave EU or Troika will take 50% “haircut”
- Leaving EU may be Greece’s best option
Tuesday, July 07, 2015
Brent Crude Oil Price Breaks out of Bearish Wedge / Commodities / Crude Oil
By: MarketsToday
Brent Crude broke down from a bearish rising wedge formation several weeks ago, trading relatively sideways thereafter, until the tail end of last week when it fell below and closed below $60.97. The 50% retracement at $57.41 was surpassed yesterday to the downside, with the next target being around the 61.8% Fibonacci retracement level at $54.53, followed by the most recent swing low (C) at $52.61.
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Tuesday, July 07, 2015
Current Accounts Become a Salvation for UK Savers / Personal_Finance / Current Accounts
By: MoneyFacts
Rachel Springall, Finance Expert at Moneyfacts.co.uk, comments:
“In the past, current accounts paid less favourable rates of credit interest than standard savings accounts, but today, things couldn’t be more different.
“Savers can earn over three times more interest using a current account compared with the best easy access account on the market.* For this reason, it wouldn’t be surprising if savers flock to these accounts and abandon standard savings accounts altogether.
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Tuesday, July 07, 2015
The Greek Vote and the EU Miscalculation / Politics / Eurozone Debt Crisis
By: STRATFOR
By George Friedman : In a result that should surprise no one, the Greeks voted to reject European demands for additional austerity measures as the price for providing funds to allow Greek banks to operate. There are three reasons this should have been no surprise. First, the ruling Coalition of the Radical Left, or Syriza party, is ruling because it has an understanding of the Greek mood. Second, the constant scorn and contempt that the European leadership heaped on the prime minister and finance minister convinced the Greeks not only that the scorn was meant for them as well but also that anyone so despised by the European leadership wasn't all bad. Finally, and most important, the European leadership put the Greek voters in a position in which they had nothing to lose. The Greeks were left to choose between two forms of devastation — one that was immediate but possible to recover from, and one that was a longer-term strangulation with no exit.
Tuesday, July 07, 2015
Is Saudi Arabia Leaving The U.S. Behind For Russia? / Politics / GeoPolitics
By: OilPrice_Com
The news from the recent St. Petersburg Economic Forum, which took place from June 18 to 20, inspired a torrent of speculation on the future direction of energy prices.
But the real buzz at the conference was the unexpected but much publicized visit of the Saudi Deputy Crown Prince, as an emissary of the King. The Prince, who is also his country's Defense Minister, carried the royal message of a direct invitation to President Putin to visit the King, which was immediately accepted and reciprocated, with the Prince accepting on behalf of his father.
Tuesday, July 07, 2015
Dow INDU Stocks Index Update / Stock-Markets / Stock Markets 2015
By: Rambus_Chartology
We are getting a test of the low from the big decline last Monday which is to be expected as many times it takes multiple tests before support really sticks. This is now the moment of truth as this low needs to hold support or a bigger decline can be expected. There is the 200 dma, the time cycle low and the very high volume spike from last Monday, in the down to up volume chart, that are showing this could be an important low.
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Tuesday, July 07, 2015
SPX Stocks Index Still on a Sell Signal / Stock-Markets / Stock Markets 2015
By: Anthony_Cherniawski
There is a big hole in today’s trading session during which trading was halted. Stocks soared during the halt and quit rising just as soon as the problem was supposedly “fixed.” How can we trust a market like this?
Right now I am taking the approach that the zigzag decline may have been a sub-Minute Wave (b). That means Wave (c) is underway and is likely to finish tomorrow. I should note, however, that SPX could easily reverse on a moment’s notice and that it remains on a sell signal.
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Tuesday, July 07, 2015
Greece Takes Stock Market Down....Merkel Playing Hardball....... / Stock-Markets / Stock Markets 2015
By: Jack_Steiman
There was bad news over the weekend as far stocks markets around the world were concerned. They preferred a yes vote from the people of Greece. Keeps things status quo. Didn't happen. The people voted no on austerity. No status quo. Change is what they want. They figure they have nothing to lose. Markets hated the vote and down those futures went. Way down. In Europe as much as 4%. Our market was down 1.5%. As usual, that more than changed by the time we woke up this morning. The nastiness cut in half, and not only that, for a moment today, when things looked better overseas based on rumors, the market went green. It hung in there until Angela Merkel, the leader of Germany, told Greece there would be no supply of liquidity based on the terms they wanted. Unacceptable, thus no liquidity.
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Tuesday, July 07, 2015
Bill Gross on Greece: 'We're in the Eye of the Hurricane' / Stock-Markets / Eurozone Debt Crisis
By: Bloomberg
Bill Gross of Janus Capital spoke with Bloomberg Television's Erik Schatzker and Guy Johnson about Greece's debt.
On whether he is surprised by the calm reaction of the markets, Gross said: "Yes, I am surprised...It appears that we're in the eye of the hurricane. I do not believe that this situation really is calm."
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Monday, July 06, 2015
New Zealand Dollar Could Rally Double Digits in the Coming Months / Currencies / Forex Trading
By: DailyWealth
Brett Eversole writes: Major currencies are rising in value...
Since the U.S. dollar peaked on March 13, the Brazilian real is up around 8.5%. And the euro is up around 5.7%.
But two major currencies have lost value versus the dollar – the Japanese yen and the New Zealand dollar.
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Monday, July 06, 2015
Why the Greek “No” Vote Was a Good Thing / Politics / Social Issues
By: Investment_U
Alexander Green writes: Well, the Greeks voted “No,” yet markets didn’t crash and the world didn’t end. What should we worry about next?
I don’t mean to make light of the situation. But Greece’s vote to reject the bailout terms of the European and International Monetary Union - and potentially abandon the euro - is actually a plus for world equity markets.
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Monday, July 06, 2015
Dow Stocks Bear Market Underway / Stock-Markets / Stocks Bear Market
By: Austin_Galt
The final high to the Dow's bull market was put in on the 20th May 2015 at 18351. This was outlined in client analysis the following day titled Dow Final High. For those following the continuous intraday charts, there was a clear bearish double top around 18350. It is my expectation that a bear market is now underway. I don't wait for any mainstream nonsense that requires a 20% fall. I leave that stuff for the fools.