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by Ashraf Laidi
Posted: Feb 20, 2010 5:00
Comments: 30765
Posted: Feb 20, 2010 5:00
Comments: 30765
Forum Topic:
EUR
Discuss EUR in this thread
http://www.cbpp.org/cms/?fa=view&id=711
For 2011 look Table 1
For example compare 2011 for
Illinois 0 $13.5 billion $13.5 billion 40.4% (Total Shortfall as Percent of FY11 Budget)
compare to
Texas $3.3 billion $1.3 billion $4.6 billion 10.2% (Total Shortfall as Percent of FY11
Budget)
So in that example Illinois is 4 times worse than Texas
California is twice as bad in that matter than Texas
California* 0 $17.9 billion $17.9 billion* 20.7%
Now you can compare state by state ;)
That guy have no clue what he's talking about. Particularly Texas was running
surplus budget till 2010, so obviously it's doing much better, than many other problematic
states like CA. AS for the EURUSD I expect range.. 1.29-1.34, which will depend on "who
said what and when" Jawboning will move markets, as all major currencies are under same
conditions i mean EUR/USD/GBP none of them either better or worse. That's why CHF
running absurd valuation. Swiss Frank actually small spare change coin, how the heck it
could be valued more than a dollar? I wish Silver could drop back to low $20/oz, so
I can load some more.. EU? Buy low Sell high. After Obama sign extension of the Tax Cuts
in to the law, Moodys
should Downgrade US Bonds from 'AAA' at least that's what they said before approval.
That should lead to some haircut for the USDx. IMHO.
Have a great Holidays.
Oh sure, you should send them all back to university. Maybe to the University of East Anglia this time. I guess they would first have to dig their hybrids out of all that global warming.
"...I can also see the USA unwinding, particularly Texas..."
Why Texas in particular?
I'm afraid the european parliament is a wonderful den of corruption and never likely to change. Members are not even accountable. Older people tend to be nationalistic for very good reason ! Your idealistic dream is finished. Its just a matter of time. And what do you think of Belgium's government in the last 6 months catnip ? yes I mean the capital of europe. What a farce.
I can also see the USA unwinding, particularly Texas. The union has been cheated. Politicians are a necessary evil but they only plan as far as the next election and most have no other experience in life except hot air and exploiting self interest. The union was originally governed by part time entrepreneurs from all sectors. It had a chance of working then. Now congress is nearly as bad as the european parliament. The world is in great danger of total implosion catnip but you seem to think that spinning money around in circles playing tricks can solve everything, real jobs and real work producing goods of value are what matter. You can look to germany for what I am talking about. Much of europe became excessively lazy and uncompetitive because it was your idealistic dream that created that situation. In the end eveything will revert back to the laws of nature. You won't even be able to trade markets for your living. You will be forced to produce something useful or choose to starve :-)
However , lets say the older folks, they are still nationalists, but the younger are Europeans.
They don't stick to nationalism, but love Europe's diversity. This is its strength but nations are just one: a huge administration. Very expensive and essentially ineffective. It is interesting that
overall the less educated are nationalist the better educated are Europeans. You find this clash everywhere from Italy to Denmark. I think this is mainly an effect of internet mailing lists and blogs. Eventually we don't need politicians anymore.
Of course it is impossible to reveal back to national currencies. Since much of PIIGS bonds are
in the books of german banks, the devaluation of these assets if germany reverted back to a national currency would immediately kill the new national currency. We see the effect of act now think later.
Read this please. JM has a lifetime of experience and his forecasts have been second to none.
Kicking the Can Down the Road
December 17, 2010
Different Cans for Different Folks
More Debt is NOT the Solution to Too Much Debt
http://www.frontlinethoughts.com/index.asp
She had to admit economy politics is a failure and Ezone has to prepare a common ministry of economy. The most important step is a common treasury issuing Eurobonds.
Political activism will go off in PIIGS to behead this Germany above all lady politically.
She has ruined the one-Europe idea.