[Marxism] Today's News
sartesian at earthlink.net
Sat Apr 11 13:56:28 MDT 2009
1. China stimulus package pushes bank lending-- banks have loaned out about
Y2.7 trillion [about $400 billion] in Jan and Feb, precipitating 34 % rally
on the Shanghai stock exchange. But exports continue to fall-- down 17.1%
y-o-y in March, better than Feb. 25.7% decline. [Real earnings for
manufacturing still opaque].
2. UK-- 4Q 2008 individual bankruptcies in England and Wales up 22% y-o-y
and up 9.4 % vs 3rd Q.
3. Robert Mitchum-- you're account is overdrawn. Regulators from the FDIC,
seized, closed, and sold off assets of the Cape Fear Bank. 22nd bank
failure in the US so far in 2009.
1. While outlook brightens, say some, for economy based on indications from
Asia, OECD is less optimistic, detailing the continued deterioration in the
advanceg economies, with positive signs globally amounting to only a
tentative slowdown in the rate of deterioration, with emphasis on the word
2.Who'll be the next in line? asked the Kinks, years ago. After Ireland
announced its bad bank policy, it looks like Germany-- along with the
effective nationalization of Hypo Real Estate, Germany will create and have
operational its bad bank this summer. Man, can't wait to purchase a
long-term CD from a bad bank. Charles Keating, dust off the old CV. I'm
sure you can get Greenspan to write you another letter endorsing your
sterling character; your financial acumen; your years of service to the
financial sector. I've seen the future and it looks a lot like Lincoln
Savings & Loan.
3. Aluminum prices declined app 62% between July 08 and Feb 09, but now
have increased about 18% on the strength of China's reinflation policy.
China provides 35% of Al production and consumption, and closed 22%, or 3.1
million tonnes of capacity in 2008. Now production is being ramped up again
which, as the overall global economy continues to contract, will glut
markets and undermine the current price increases.
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