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SocalDinar

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SocalDinar last won the day on September 23 2015

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  1. Buy the dip..! Haha. Who knows
  2. UNEMPLOYMENT IN IRAQ RISES TO HIGHEST LEVEL IN THREE DECADES A mask-clad Iraqi man walks past a mural painting in the capital Baghdad's central Tahrir Square, on October 1, 2020. AFP AM:09:55:26/09/2021 1120 View Share Tweet + - SULAIMANI — Unemployment in Iraq has risen to its highest level in three decades despite the country's huge oil wealth, according to a recent report by the World Bank. According to the latest statistics issued by the international financial institution, the unemployment rate in Iraq reached 13.7 percent in 2020, the highest rate since 1991. Spokesperson for Ministry of Planning Abdul-Zahra al-Hindawi said in an interview with US-based Al-Hurra TV on Friday that the coronavirus pandemic and its consequences resulted in an economic crisis and a financial downturn that have exacerbated unemployment and poverty rates in the country. "The poverty rate in Iraq also witnessed an increase during the past year, reaching 31.7 percent, but it decreased slightly this year to 30 percent,” he said. He added that the ministry is currently working on completing a survey of the Iraqi labor market. https://nrttv.com/En/detail6/1039
  3. Shoot This Penny stock is going crazy!!!!!!!!! Its at .019 today! https://finance.yahoo.com/quote/tggi/
  4. Iraq Remains Biggest Petroleum Opportunity, Petrel Resources Says -- Commodity Comment Published: Sept. 22, 2021 at 4:43 a.m. ET By Jaime Llinares Taboada Iraq remains the biggest petroleum opportunity today, Petrel Resources says. The London-listed company, which last year submitted a proposal to develop an oil field in Iraq, says the biggest challenge in the country is outdated contracts and fiscal terms. Here's what Petrel had to say as it reported first half accounts: On Iraq's oil market: "Despite much-publicized challenges, Iraq remains the biggest commercial opportunity in petroleum today. The geology is unsurpassed. The oil market is sharply recovering. But contracts must be updated for effective exploration and development." "2021 was a moment of truth for companies prepared to invest in Iraq. Some western majors, ignorant of prevailing circumstances, had bid over-optimistically on service contracts from 2009, and then found it hard to operate effectively." "Others, including TotalEnergies and Chinese NOCs, have re-committed themselves given the large opportunity. Iraq is not for the faint of heart, but there is considerable upside to be realized provided the elected government implements necessary reforms." "For several years after the 2003 Iraqi invasion, there was a perception that contractors close to western governments, and later super-majors, would dominate Iraqi oil exploration and development. Iraqis had other ideas, however: they want partners, rather than bosses." "The biggest challenge facing Petrel in this new era is not operating conditions, access to technology or community relations. The biggest challenge facing agile industry players is outdated contracts and fiscal terms that were designed during boom years." On Petrel's operations in Iraq: "Petrel has also been asked, by an Iraqi group, to evaluate minerals opportunities that may become economically and legally viable following the expected passage of legislation." "At the invitation of Iraqi government officials in 2020, Petrel submitted a proposal to develop the Merjan oil field, in accordance with applicable laws and the Iraqi Model Contract. This builds on the Technical Cooperation Agreement (TCA), conducted by Petrel in 50% cooperation with partner Itochu, from 2004." https://www.marketwatch.com/story/iraq-remains-biggest-petroleum-opportunity-petrel-resources-says-commodity-comment-271632300220
  5. Iraq advances in prosperity index as economic reforms bear fruit The country ranks 137 on the Legatum Prosperity Index 2020, up from 142 in 2010, with other economic indicators also improving Iraqis buy traditional tannoor flat bread at a bakery in the capital Baghdad on September 10, 2021. The country improved its rankings on the Legatum global index over the past decade. AFP Deena Kamel Sep 20, 2021 Iraq has climbed the ranks on various economic indicators over the past decade as the government's fiscal reforms aimed at ensuring stability bear fruit, according to the 2020 Legatum Prosperity Index. Iraq rose five places to 137th position out of 167 countries in 2020, up from 142nd place in 2010 when it was one of the least prosperous countries, the index shows. It scored higher for its open economy – particularly economic quality, market access and infrastructure – as well as social inclusion, although its people empowerment fell by one spot. "Prosperity is far more than wealth; it is when all people have the opportunity and freedom to thrive. Prosperity is underpinned by an inclusive society, with a strong contract that protects the fundamental liberties and security of every individual," the Legatum Institute's report said. "It is driven by an open economy that harnesses ideas and talent to create sustainable pathways out of poverty. And it is built by empowered people, who contribute and play their part in creating a society that promotes well-being," the UK-based think tank said. The World Bank estimates Iraq's economy will grow 1.9 per cent this year, and expand 6.3 per cent over the next two years, on the back of rebounding oil prices and rising Opec+ production quotas. Non-oil GDP is forecast to recover in 2021, growing by 5.5 per cent. The Legatum Prosperity Index, now in its 14th year, assesses how well countries promote the economic and social well-being of their residents in three domains: inclusive societies, open economies and empowered people. Iraq's score rose for two out of these three overarching categories that determine a country's prosperity performance. The country rose three notches in the inclusive society category, which includes sub-divisions of safety and security, personal freedom, governance and social capital. It jumped seven ranks in the open economy category, which includes sub-divisions of the investment environment, enterprise conditions, market access and economic quality. However, it dropped one rank in the people empowerment category that includes measures of living conditions, health, education and natural environment. . Iraq is poised to attract significant foreign investment into its energy sector, in tandem with expected higher revenues following the Opec+ decision to raise output that will help strengthen its weak fiscal position. Baghdad is a founding member of Opec and the group's second-largest producer, "The recent recovery in oil prices provides an opportunity to push ahead with reforms," the World Bank said in its Spring 2021 Iraq Economic Monitor. "With oil prices trending above the US$60/barrel, Iraq could engage actively on the white paper reforms and use those windfalls to soften the potential repercussion of those reforms." The country's economic outlook hinges on global oil market prospects, the implementation of reforms and the evolution of the Covid-19 pandemic, the Washington-based lender said. The Covid-19 crisis, combined with a decline in oil revenues last year from low global demand and Opec+ output cuts, dealt a severe blow to the country's rentier economy. Like many countries affected by the pandemic, Iraq's economy contracted 10.4 per cent in 2020 after growing 4.5 per cent the previous year, according to the World Bank. Iraq’s economy is expected to return to pre-pandemic economic growth levels by 2024, according to the International Monetary Fund. Iraq has begun taking much-needed steps towards ensuring future economic stability. The Central Bank of Iraq devalued the currency by about 23 per cent against the US dollar in December – a move the IMF expects to help reduce external imbalances and preserve foreign exchange reserves. The draft 2021 budget is intended to cut the fiscal deficit through various measures to raise non-oil revenue and contain the unsustainable expansion of pension bills and government wages, the IMF said. In July, Moody’s Investors Service affirmed the Caa1 long-term non-investment grade rating of Iraq and maintained its stable outlook. Meanwhile, Denmark topped the global index, with European nations dominating nine of the top 10 spots and New Zealand coming in at 7th place. The UAE maintained its position as the most prosperous Arab nation for the 14th year in a row. The Emirates scored highly for its open economy, particularly its enterprise conditions, market access and infrastructure, putting the nation in 42nd position out of 167 countries. https://www.thenationalnews.com/business/2021/09/20/iraq-advances-in-prosperity-index-as-economic-reforms-bear-fruit/
  6. How's it Going Rock? You are right! They are not immune to Dutch disease. They do need to ramp up other economic sectors if they want to prosper. And their culture of mediocrity hinders any economic progress too.
  7. Thanks Howie, First I've seen of this. The FED is the worlds largest Ponzi scheme. Might be planning for a run on the money.
  8. Hope someone else got in on this.
  9. 06:55:53 2021/9/2 Englishكوردىعربي Iraq reached about 14 percent of unemployment EconomyIraqi Ministry of Planning 2021-09-02 03:34 A-AA+ Shafaq News/ The Ministry of Planning announced, on Thursday, that it will conduct a new survey of unemployment in Iraq. Ministry spokesperson Abdul-Zahra Al-Hindawi said in an interview with Shafaq News Agency, "It is hoped that a new survey of unemployment in Iraq will be conducted soon," noting that "the Ministry is still dependent on previous indicators in Iraq, which showed the unemployment rate at 13.8%." He added, "The latest statistics indicate that the capital, Baghdad, had an unemployment rate of 9.3%," noting that "Al-Anbar Governorate recorded the highest unemployment rate at 32.4%, followed by Duhok Governorate at 26.4% and then Maysan Governorate by 20.4%, while the least rate was recorded in Kirkuk (6.3%), followed by Karbala (6.7%), and Basra (7.6%.) He explained that "the unemployment rate in the governorates of Kurdistan reached 17.4%, in the northern governorates 17.1%, in the central governorates, 9.7%, and in the southern governorates, 14%," pointing out that the unemployment rate in the countryside amounted to 14% and in urban areas it reached 13.2%. Al-Hindawi added, "there is no relation between poverty and unemployment in Iraq becpoverty poverty is mutlidimensional, it includes housing, income, education, and health, and a person may be unemployed, but he has housing, education and health services." He stressed that "the relation between unemployment and poverty is limited only to income.” https://shafaq.com/en/Economy/Iraq-reached-about-14-percent-of-unemployment
  10. 15:09:05 2021/8/31 ShafaqLive Englishكوردىعربي Basra governor demands the Federal Government to allow regionalizing Iraq's economic capital Iraq NewsBasra 2021-08-31 05:40 A-AA+ Shafaq News/ The Governor of Basra, Asaad al-Eidani, attributed the demands to convert the southern governorate to a region to the marginalization the Federal Government exerts against Basra, calling the latter to abide by the constitution. In his speech during the "RCD Forum 2021: Solutions" organized by the Rafidain Center for Dialogue, al-Eidani said, "the residents of Basra feel they are marginalized, despite being the economic capital of the country. For this reason, they demand regionalization." "The constitution says that the Iraqi regime is federal. It must be administered via decentralization. The Iraqi state shall be strong to force this issue." "Basra suffer from high water salinity. The Federal Government did not do anything in this regard. All the projects in this aspect are done by domestic effort." In 2019, Basra's governorate council voted unanimously in favor of regionalizing Basra, calling other governorates that intend to join the region to take the same step." The efforts to achieve this conquest have been underway since 2003. However, they hit an impasse because the Federal Government blocks the procedure. https://shafaq.com/en/Iraq-News/Basra-governor-demands-the-Federal-Government-to-allow-regionalizing-Iraq-s-economic-capital
  11. I personally will never show my ID to an officer without probable cause. And I will not answer any questions either. Sad truth is that this will hurt an industry that has been crippled by these insane lockdowns.
  12. They would need to repeal the 4th amendment in order to make that law. Not gonna happen . The right of the people to be secure in their persons, houses, papers, and effects, against unreasonable searches and seizures, shall not be violated, and no Warrants shall issue, but upon probable cause, supported by Oath or affirmation, and particularly describing the place to be searched, and the persons or things to be seized.
  13. Kind of hard to prove probable cause in a crowded restaurant full of people with cameras. I for one would show it to a restaurant owner because they are not at fault wanting to follow the rules to stay in business but no way in hell i would show it to an officer. I would rather go to jail and get in front of a judge. And of course take legal action if my rights are violated. Put your license and ID in your top pocket. Let the officer know where it is and they can take it if he is willing to violate your rights. Of course film it. Ask for a supervisor. When driving its fairly easy for them to come up with and excuse for an infraction. I really hate it when the police violate parking rules especially when on their lunch breaks. I will confront them when i see this. Its not do as i say... Not as I do. I even had one officer get smart with me saying my stock truck's windows truck tint was to dark. WT heck? Pulled out my camera and starting filming. as soon as the camera came out he immediately walked away. Don't get me wrong i do respect law enforcement and thank many officers for their service. But I know my rights and will defend them against any tyrant. Eating in a restaurant is not suspicious and even if it was acting suspicious is not a crime and not probable cause If no ID is needed to vote then I sure as heck am not going to show it to eat.
  14. Police cant even ask you for an ID unless they have reasonable suspicion you have committed a crime. No way they can ask for a vaccine card legally
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