14 décembre 2008
Bernie Madoff's alleged $50bn fraud may be just a foretaste of what's to come
source: Telegraph
Then come the rogue traders, who are unable to 'fess up on market bets gone wrong. The last to arrive is the "bezzle".
That was economist JK Galbraith's word for the outright frauds built up when markets are good. These can be kept hidden for as long as the lies hold up. But the truth will out.
China’s Economic Slowdown Is Deepening, Officials Say
source: Bloomberg
“The international financial crisis is having a severe
domestic impact,” Li Yizhong, head of the Ministry of Industry
and Information Technology, said at a press briefing in Beijing.
“We don’t think we’ve bottomed out yet, and the impact will
broaden further in December.”
China may help steelmakers hurt by weaker demand for automobiles and electric appliances by purchasing steel stockpiles, offering subsidies for plant upgrades and increasing export-tax rebates, Li said.
“Just about every industry” has overcapacity, he said.
China December Producer Price Index to Drop, Liu Says (Update1)
source: Bloomberg
Dec. 13 (Bloomberg) -- China's producer price index is expected to drop ``sharply'' in December, China Banking Regulatory Commission Chairman Liu Mingkang said.
The world's fourth-biggest economy is shifting toward deflation, Liu told a financial forum in Beijing today. Capital inflows may shift to outflows, with gross domestic product projected around 8 percent next year, he said.
10 years of equity gain could be wiped out
source: Times
Lucian Cook of Savills said: “Those who bought since 2003 will suffer greater pain, being left with much the same feeling as those who first bought in 1988 — whose housing cost them substantially more than those who remained in the rented sector for longer, but who also suffered the curse of negative equity for a five-year period from 1990 to 1995.”
Most economists believe that house prices will fall 25% from peak to trough while some are even predicting prices could drop as much as 35%.
Switzerland may have to print money to stave off deflation
source: Telegraph
David Bloom, currency chief at HSBC, said the shift in policy was breathtaking. "The SNB are the hard men of central banking; they are even harder than European Central Bank. What they are saying is that inflation is no longer a problem, it's the solution. They want stimulus any way they can get it."
Le département « face à une digue qui rompt... »
source: Le Mans.maville.com
Nous ne sommes pas face à une fuite d'eau, mais face à une digue qui rompt... »
De grandes incertitudes empêchent d'y voir très clair en attendant le vote du budget cet hiver. Difficile d'avoir le moral. Surtout quand la crise immobilière menace de priver le département de près de 13 millions d'euros de droits de mutation. « Ces droits représentent 10 % de notre budget de fonctionnement. » Pour mémoire, en 2007, ils atteignaient 44 millions d'euros...
Le plan de relance américain pourrait grimper à 1.000 milliards de dollars sur deux ans
source: Yahoo/La Tribune.fr
Les chiffres donnent le tournis. L'équipe du président élu Barack Obama travaille sur un plan de relance de l'économie américaine dont le montant pourrait être bien plus important que les estimations avancées jusque-là, puisqu'il pourrait atteindre 1.000 milliards de dollars sur une durée de deux ans, écrit ce samedi le Wall Street Journal (WSJ).
Les agences françaises de voyage traversent une zone de turbulences
source: Yahoo
Premier réseau français en nombre d'agences, Afat Voyages a vu ses réservations chuter de 30% en octobre et de 20% en novembre. En 2008, ses 630 points de vente ont réalisé une petite hausse de "2 à 3%" de leur volume d'affaires, mais l'année 2009 s'annonce difficil