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Gian Businesses Index & Contractors in Levin and wellington NZ
 
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WHY CURRENCIES FALLING ON THE WORLD MARKET

SCENE COULD SEE RECESSION COMING in 2019

 

With the economy barely crawling out of recession, a rapid fiscal retrenchment would be treated to an insane reaction in foreign exchange markets. With confidence in British policymaking gone since the Brexit. All currencies are seeing a change. China is holding itself against the US$ and not revaluing & offers subsidies to its exporters causing drastic competition headaches to the USA as US manufacturers struggle to compete at fixed interest rates & cheaper goods. Gone are the days when the USA told Britain to leave Suez or else!! they have no clout to dictate to China as China has a big room full of US bonds!!!! so who will dictate to who in the future--guess.

 

 

   

 

 

 

 

The Pound & US$ has shrank. The Euro has depreciated now. A Sliding Euro and Debt Crises could push Europe back Into Recession. With the Euro dropping in value now points to a big danger for the fragile global recovery, one that will persist even after those bail out debt issues are resolved. Europe, the world's largest importer, may be on the verge of sliding back into a recession. And as governments scramble to rein in spending in order to combat the debt crises, the dampening in demand is likely to compound the problem. India made a massive purchase of gold, 200 metric tons worth (about $7.5 billion), even though gold is at an all-time high. The fact that one of the world’s most populous countries chose gold over US Treasuries as a safe buy is interesting? The EURO was in dire straits & now they have bailed out Greece yet again with Banks taking a 50% interest rate loss on their loans---should be 100% really what the Banks have done over the past years with zero regulations. Worries over Greece's ability to finance its debts have been weighing for weeks on the euro & now in France with the yellow vests who have had enough of BANKERS.

 

 

Cutting stimulus spending and unemployment benefits, and raising taxes to tackle the debt-issues will only add to the likelihood of a double-dip recession. NZ is spending mega on roading projects that its rival Labour forgot about & has great schemes to build more roadways etc but doesn't have the money as the Labour Party was more intent on changing & amending laws & keeping the benefit people happy. Taxes are sky rocketing and goods and services & Acc levies are affecting some especially smaller businesses & theres an increasing slow up as oil hovers around $86 a barrel. But NZ has a high population or useless workers who don't want to work so they import seasonal workers---ask most of the employers in seasonal work who hate it when Work & Income send a bunch of no hopers who just don't want to work????

But for a weak euro means this would make exports more competitive against China -- which keeps the yuan undervalued and tips favoring Chinese exporters. It may be exactly what Europes ailing economy needs. But of course China has no intentions of appreciating the yuan and the USA is suffering as more companies close succumbed by China's intense competition and its piggy bank money box gets added to each day.

George Soros, the man who initiated the refugee headache in the EU with Merkel and Kraus will now real from the Brexit they promoted.
Governments around the world have allowed their budget deficits to balloon since the financial crisis broke in 2007.

 

GREECE: ($413.6 billion DEBT ), is bigger than the country's economy, with some estimates predicting it will reach 120 % of GDP in 2010. The country's deficit was caused by cheap loans & no financial restraints plus indiscriminate spending -- how much more it spends than it takes in -- is 12.7% & its in the pits looking for bailout funds to reduce the deficit by more than €10 billion ($13.7 billion). It has hiked taxes on fuel, tobacco and alcohol, raised the retirement age by two years, imposed public sector pay cuts and applied tough new tax evasion regulations. Drastic cost cutting include taxes on fuel, tobacco and alcohol, retirement age up by two years, imposed public sector pay cuts and applied tough new tax evasion regulations but bailout by other EU country is not an option due to they having problems of their own. Oil prices rose above US$86 a barrel on Monday 3rd May 2010 as a record bailout for debt-stricken Greece of €110 billion ( NZ$201 billion ) was made. [ Why Greece collapsed ] [ Poland situation Aug 2011 ]

Portugal, Spain and even Ireland are not looking healthy.

REPUBLIC OF IRELAND: Irish residents - mostly companies and institutions - have an outstanding debt of €1.1 trillion. in 2010. Irish Government debt at the end of January was €78bn, an increase of €6.7bn since the end of December, and with a 5 billion Euro bond issue in January. Irish pension funds and insurance companies account for €2.2bn of outstanding debt and like the rest of these EU countries are now faced with mounting financial debts. eg. even big name Irish property developers are committing suicide.

PORTUGAL: is now the third debt-degraded country in the eurozone with financial problems and like the others has a heavy private debt burden. They have a 142.91 billion euro debt? Under EU pressure to correct its public finances, the Govt announced sweeping privatisation measures affecting airline, rail transport, postal, energy and paper industries, to fight a rise in debt. Also covered by the crash programme are bank and insurance activities.The privatisation would raise about 6.0 billion euros (8.22 billion dollars). The Socialist government intends to sell off the Portuguese economy to get itself right.

SPAIN: Right on the tail of Portugal Spains economy, being 4 times the size of Greece, has been amounting debts since 2008. The deficit reached 11.4 percent last year, almost four times the EU’s 3 percent limit, compared with 12.7 percent for Greece. Investors should avoid Spain’s bonds as the euro region’s highest levels of joblessness affects the country’s ability to cut its budget deficity by 2013, bringing in 1.2 billion euros this year and 1.8 billion euros next year. The public debt burden will rise above 80 percent of GDP by 2012.

 

COUNTRIES WHO CRASHED In the last 20 odd years:

• 1989 ARGENTINIAN

• 1997 THAILAND

• 1998 RUSSIA

• 1999 ECUADOR

• 2001 ARGENTINIAN

• 2008 Iceland whose next!!!!!!!!!!!!!!!!!!!!!!!!! &

• 2009 North Korea & Greece??

• 2011 Spain & Portugal, Greece. Italy & Ireland

• 2011 Poland coming

2016 UK exits the EU and more to follow

Remember the US was borrowing $6 for every dollar before the subprime crash & Kiwis are borrowing still well beyond there means.

Some of the world's largest hedge funds are even saying that the Euro currency will sink to trade at an even level with the U.S. dollar.

 

Are we heading back to recessio 2017 with EU ]China's next moves from 2012 [ China, Taiwan & the world ] [ China Vs USA finance situation ] [ China buying bonds & loans ] WHY ARE MANUFACTURERS & BUSINESSES LEAVING NZ: [ Read the story ] [ NZ Pensions 2011 ] [ Compare to Thailand ] [ Check WHY THAILAND ] is better for Manufacturers & any Kiwi Company. Why NZ is lost [ NZ Deficit increases ] Yes we owe money????? [ Government $250m a week borrowing ]

"You believe me now that the world population needs to be addressed.

Don't tell anyone as most think its untrue & don't give a meow "

 
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