Guest views are now limited to 12 pages. If you get an "Error" message, just sign in! If you need to create an account, click here.

Jump to content

climber7

Members
  • Content Count

    797
  • Joined

  • Last visited

Community Reputation

1,023 Excellent

About climber7

  • Rank
    Senior Member

Recent Profile Visitors

The recent visitors block is disabled and is not being shown to other users.

  1. I'll take that 1:1 and run like Forrest Gump 🏃‍♂️💨
  2. Total bull 💩 Christians in our own country are now attacked and reviled and we’re sending them millions?! Trump needs to to put the smack down on this crap
  3. 14 October 2018 - 11H50 Seeds of next global financial crisis being sown, top officials warn inShare © AFP/File | The global economy faces an 'unprecedented' combination of threats, the IMF has warned NUSA DUA (INDONESIA) (AFP) - Rising US interest rates, tanking emerging market currencies and a bitter US-China trade spat could push the world towards its next financial crisis but there is still time to avert disaster, global finance chiefs have said. The world economy is still growing but faces an "unprecedented" combination of threats, the International Monetary Fund cautioned at an annual meeting with the World Bank in Bali this week. Among them is growing protectionism championed by the Trump administration and the intensifying trade-and-currency battle between Washington and Beijing, which have imposed ***-for-tat tariffs on billions of dollars worth of goods. Opening the Bali talks, Indonesian President Joko Widodo compared the dispute between the world's two biggest economies to the hit television series "Game of Thrones". "Great houses, great families, battle each other fiercely to seize control over the Iron Throne," he said. But "confrontation and collision impose a tragic price not only on those who are defeated but also on the winners". And IMF chief Christine Lagarde warned of a "degree of uncertainty that we have not seen before" in international trade. - 'Constructive solutions' - Disaster can still be averted, officials said at the Bali meet, with reassuring talk from the global financial elite that growth remains strong -- the IMF projects 3.7 percent for this year and the next -- and could yet withstand the risks gathering on the horizon. And despite tensions, US and Chinese officials in Bali also sounded conciliatory tones. US Treasury Secretary Steve Mnuchin described "productive" talks with the Chinese on the yuan, which Washington has accused Beijing of keeping artificially low to boost exports. And China's central bank governor Yi Gang called for "constructive solutions" to the damaging tiff, but insisted that Beijing was not devaluing its currency to gain trade advantages -- a practice the IMF this week called on members to avoid. But there are also other brewing concerns, including the US Federal Reserve's decision to raise interest rates. This year has already seen three hikes, which experts largely agree are necessary to avoid overheating an economy with strong growth and low employment. That has squeezed emerging markets, which are seeing capital flee towards the US enticed by higher returns, and also threatens developing countries that have large debt burdens denominated in dollars. "The global economy continues to grow but the outlook is now challenging especially for emerging markets due to the normalisation of the US monetary policy," Brazilian central bank governor Ilan Goldfajn warned Sunday. The US "needs to be very mindful that spillover from the effect of their policies is very real for many countries," Indonesia's Finance Minister Sri Mulyani Indrawati added, in an interview with Bloomberg TV. - 'Repair your roof' - Still, there is little expectation for now of a change of gear by the Fed, despite President Donald Trump's vocal criticism of the rate hikes. And top officials said emerging markets should prepare for more hikes with measures that could cushion the impact, including flexible exchange rates and careful management of capital movement. The consensus among central bankers and leading economic officials is that while the next global crisis may not be imminent, now is the time to prepare for it. "The time to repair your roof is when the sun is shining," French central bank governor Francois Villeroy de Galhau told AFP. He said the current stable global growth was a good moment "to rebuild budget reserves" and for states that can to reduce their debt loads. The IMF has also called on central banks to begin "normalising" loose monetary policy that began in response to the last financial crisis a decade ago, to give them more room to manoeuvre in the case of a fresh economic disaster. The need for a "cushion" in case of disaster has also been exacerbated by the rise of so-called "shadow financing", a largely unregulated system that has spread globally, and an alarming expansion of public and private debt to more than double the world's GDP last year. Lagarde urged vigilance as she addressed the meetings in Bali, warning against "collective amnesia" about what sparked previous financial crises. "Geopolitical tensions combined with... increased protectionism produced terrible developments." https://www.france24.com/en/20181014-seeds-next-global-financial-crisis-being-sown-top-officials-warn
  4. I saw the original post but didn't write it down unfortunately and for some stupid reason someone X'd out your email address 😡 Not sure how to contact you now unless you contact me at hikinghombre@yahoo.com
  5. Thanks LGD I was going to ask a few questions regarding trucking
  6. LGD I was tying to figure out how to contact you via private message but couldn't find a way. Could you shoot me a message so I can reply if you know how to do this? Thanks
  7. 10 October 2018 - 04H17 Trillions in US net worth vulnerable to recession: IMF © AFP/File | Economists now say the chances of a recession in the US are growing due to several factors, including trade tensions and mounting interest rates WASHINGTON (AFP) - A severe recession would slash US public wealth by about $5 trillion, causing vastly more damage to Washington's finances than just an increase in debt and deficits, the IMF warned Tuesday. Yet governments around the world, many of which face similar dangers, do not clearly publicize their overall net worths, the International Monetary Fund said in a new report. This creates a potential blind spot for policymakers who could use this knowledge to head off economic risks, it said. ADVERTISING inRead invented by Teads The global crisis lender, which in Indonesia this week is staging its annual meetings with the World Bank, cut its outlook for global GDP on Monday by two tenths to 3.7 percent through next year. The fund pointed to rising trade tensions as a cause for worry and also predicted slower growth in the United States next year and beyond. Economists now say the chances of a recession in the United States are growing due to several factors, including trade tensions and mounting interest rates. Beyond tax revenues and sovereign debts, a government's balance sheet contains a range of other assets and liabilities, such as the state enterprises, land and natural resources it owns as well as the money it has to pay to fund public-sector employee pensions. The difference between the two sides of the ledger is a country's net worth. "The scars from the global financial crisis are still evident on public wealth a decade later," the report said, adding that the net worth of 17 advanced economies together was now $11 trillion lower than it had been prior to the crisis. - Wall Street, pensions and debt - Countries that take such a broad approach to their finances may face lower borrowing costs and see higher revenues, making them more resilient in a downturn, the report said. But after a decade of recovery, the net worths of most Group of Seven economies are now negative, it said. China's net worth has deteriorated to eight percent of GDP because of off-budget borrowing by local authorities and poor returns from powerful government-run businesses, the IMF found. Meanwhile, the net worth of the United States has been in decline for nearly four decades. Worsening notably due to the global financial crisis, it had sunk by 2016 to negative 17 percent as a share of GDP, the report said. The federal mortgage giants Fannie Mae and Freddie Mac, which the government took over during the crisis, have lent a staggering amount -- 44 percent of GDP -- to the private sector. But the biggest source of risk comes from state and local government retirement pensions, which can lose money when Wall Street sinks -- meaning the shortfall has to come out of local government budgets. Towns and states then have to cut spending elsewhere, creating a drag on the economy. Nationwide, such pension funds are already underfunded by about eight percent of GDP. Using a hypothetical "stress test" scenario developed by the US Federal Reserve for banking regulation, the IMF found a severe recession would cut the value of America's publicly held assets by an amount equal to 26 percent of GDP by 2020. At current levels, that would amount to about $5 trillion. The scenario, which imagines a deep global recession, rising interest rates but collapsing stock and real estate prices, would see sovereign debt balloon by nine percent but net worth dive by another 17 percent, mainly because falling real estate prices would drag down the value of publicly owned structures. Defaults on mortgages and student loans as well as pension fund shortfalls would all jump sharply, the report found. https://www.france24.com/en/20181010-trillions-us-net-worth-vulnerable-recession-imf
  8. Thanks for your input DWS I guess the real question is.....can their economy keep growing and never need an RV?
  9. Question Can Iraq’s economy grow like the article states without an RV or rise in value?
  10. Nope, not jumping anyone's bones. And not to make this a bigger issue than it is--I was simply pointing out an error because you didn't read the entire post, or you would have understood it as a joke. It IS however a little peeve of mine when people (in general--not you) come down hard on others unnecessarily, or in this case, saying they didn't do their research when you clearly didn't either. Easy human mistake to make for sure.... In bigger scope of things I appreciate your input here. Just please use a little more patience with folks. Peace
  11. Sorry Carello but you've not done your 'research' either Read the ENTIRE post and you'll see this was said as a JOKE and not meant to be taken seriously
  12. Could this be their way of signaling/preparing the people to get their finances in order for the impending monetary change (RV)?
×

Important Information

By using this site, you agree to our Terms of Use.