Forex Go!

Risk FX tumbled lower in early North American dealing after US GDP data for Q3 was revised lower to 1.8% from 2.0% initially forecast. The primary reason for the downward revision was the sharp decline in personal consumption expenditure which accounts for 70% of the US economy. Economists had projected an increase of 2.3% while actual figure came in at 1.7%.

The tepid pace of PCE indicates that the US consumer remains exceedingly cautious  in his spending habits given the challenging employment conditions  and the  moribund state of the housing market. Analysts expect that Q4 of this year will show an improvement in consumption to 3% as labor conditions ease. Indeed today’s weekly jobless claims printed at 364K versus 368K a week ago – the third consecutive time that they have been markedly better than expected.

Still, it remains unclear if consumers will dramatically increase their pace of spending in Q4 of this year. One unexpected factor that could depress sales has been the unusually warm weather in  Northeastern US which has forced retailers to discount merchandise prematurely.

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More on our new theory of government.

You’ll recall that this series began by pointing out how worthless most “theories of government” really are. They’re not theories at all. They don’t explain anything. Instead, they are just wishful thinkingflatteryand apologia for the elite who use government for their own ends.

The “social contract,” for example, is a fraud. You can’t have a contract unless you have two willing and able parties. They must come together in a meeting of the minds — a real agreement about what they are going to do together.

But what is the ‘social contract’ with government? There was never a meeting of the minds. The deal was forced on the public. And now, imagine that you want out. Can you simply “break the contract?” You refuse to pay your taxes and refuse to be bossed around by TSA agents and other government employees. How long would it be before you got put in jail?

What kind of contract is it that you don’t agree to and can’t get out of? They can dress it upprint out

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Did European Union leaders make the sovereign debt crisis “go away” last week?

Not even close. What they did agree on is tougher budget rules:

“…17 countries of the euro zone…agreed to run only minimal budget deficits in the future and allowed the European Court of Justice the right to strike down national laws that don’t enforce such discipline properly…” Wall Street Journal,

Will the EU agreement prove bullish or bearish for world stock markets, including the Dow Industrials?

Let’s put it this way: The evidence suggests that government intervention in the economy does not alter the dominant trend of financial markets.

For example: Look at the DJIA chart and try to identify when the U.S. government bailed out Fannie Mae, Freddie Mac, and other financial institutions.

“[The chart below] shows that in fact these actions took place in the early portion of the biggest stock market decline in 76 years. These act

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Today I want to talk about some of the forex books you can buy on the Kindle. If you havent yet bought a Kindle (which you can buy here from Amazon.com or Amazon.co.uk), I highly recommend you do so because I bought one earlier this year and its one of the best things Ive ever bought.
 
It is essentially an ebook reader that stores thousands of books, and allows you to read any of the books you have in your collection (and download new books) on the move whenever you like.

- Forex ebooks (for the Kindle) on Amazon.com
 
– Forex ebooks (for the Kindle) on Amazon.co.uk

Euro spiked higher earlier today on report that China is going to create a $300b investment vehicle for managing investment funds in US and Europe. However, markets are rather unimpressed by the fiscal compact agreed by 23 of EU nations, not all 27 nations. And in such case, the new rules will only operate as intergovernmental agreements and couldn’t be enforced through change of treaty. The rest of the nations, except UK, would consult their parliaments before confirming whether to join the agreement. But UK has made it clear that they won’t join as there was “fundamental disagreement”. And still, every single country will need to take the issue back to parliament s for approval. Under the pact, the Eurozone member states, plus six other EU states, agreed to run minimal budget deficits and allow European Court of Justice the right to strike down national law that don’t enforce the discipline.

Meanwhile, EU President Van Rompuy announced that the approach to private sector involvement is “now officially over”. Germany backed down from insisting on investors sharing the costs of bailout.

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  It is clear that everyone from foreign central banks to rating agencies are fed up with waiting around for the Europeans to come up with a rescue plan and decided to take matters into their own hands. By placing Eurozone countries on credit watch negative and extending this warning to the EFSF, S&P is effectively telling investors that the failure of EU Leaders to make substantial progress this week could prompt a wave of downgrades across the region. In anticipation of more trouble ahead, the Reserve Bank of Australia cut interest rates by 25bp last night to 4.25 percent.   Interestingly enough, the Bank of Canada wasn’t nearly as concerned as the RBA due in part to slightly stronger than projected U.S. growth.   However Canada is in a unique position in that they are less exposed to Europe and China and more heavily reliant on the U.S.   The central banks of New Zealand, the Eurozone and the U.K. on the other hand are more exposed to the problems in Europe and Asia and will most likely share the cautionary views of the RBA.

In the age of social media, online shopping and mobile commerce, it’s no surprise some people feel that brick-and-mortar retailers may soon become obsolete. However, these new technologies have recently been utilized to encourage shoppers to head back into stores.

WSL/Strategic Retail explains that a number of new mobile technologies, social media campaigns and shopping apps are hoping to use consumers’ behaviors and communication preferences to get them to shop at physical store locations. Retailers have figured out how to make shopping in stores as interactive and fun as commerce done over the internet.

“For the first time in many years, retailers are getting ahead of the trend, and the shopper, by introducing new mobile apps that create fun, entertaining and promotion-driven experiences at the malls and in the stores,” explained Wendy Liebmann, CEO of WSL/Strategic Retail. “By usi

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ECB stands ready to act

The head of the European Central Bank (ECB) signaled Thursday it stands ready to act more aggressively to fight Europe’s debt crisis if political leaders agree next week on much tighter budget controls in the 17-nation EuroZone. In France, President Nicolas Sarkozy called for a new treaty incorporating tougher budget discipline, a European Monetary Fund to support countries in difficulty and decisions in the EuroZone taken by majority vote instead of unanimity.

Addressing supporters in the port city of Toulon, Sarkozy said he and German Chancellor Angela Merkel would meet next Monday to outline joint proposals to put to a December 9th EU summit, seen as make-or-break for the 12-yr-old single currency.

“Let us not hide it, Europe may be swept away by the crisis if it doesn’t get a grip, if it doesn’t change,” Mr. Sarkozy said, warning that a collapse of the Euro would make France’s debt unmanageable and wipe out people’s savings. “We do not ha

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Risk FX was mildly higher in quiet pre-NFP trade boosted by 1.5% gains in European equities, but pair failed to generate much momentum with EUR/USD staling ahead of the 1.3500 barrier while AUD/USD was unable to pull away from 1.0250 as currency traders remained on the sidelines ahead of the key US employment report. 

German Chancellor Angela Merkel stated today that development towards a fiscal union was on the agenda for the EU Summit scheduled for December 9th. Speaking in Berlin, Ms. Merkel also stated that the EU crisis may take years to resolve as she tried to temper market expectations ahead of the meeting.

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When you’re in debt, you struggle hard to find out ways to pay off your debts. In spite of managing your personal finances and sticking to your budget, at times you may find that there are certain circumstances that hinder you from making your payments properly. In such situations, it is advisable, that if you have made any investments in the stock market, then you can sell it off and use the money to pay off your debts. However, before you do so, you need to opt for a suitable debt solutions method that will pave you proper ways to make it easier for you to repay your obligations (unsecured).

2 Types of debt solution programs

Read on to know which debt relief program can be suitable for you to erase your debts.

1. Debt settlement program:

If you’re able to make your minimum payments but are quite unsure about continuing it in your near future, then you can opt for a debt settlement program. Here, the representative of the company will assess your financial situation and negotiate with your creditors to lower the outstanding balance of your bills/cards up to (40- 60) %. Aft Read more…