Americká centrálna banka by mala znova zasiahnuť, myslí si jej predseda by Milota Sidorova

Americká ekonomika v druhom kvartáli stagnovala. Lepšie povedané, vzrastala, nie však očakávaným tempom. Zatiaľ čo sa všeobecný predpokladný nárast pohyboval niekde okolo 2,4 percent, reálny nárast HDP predstavoval 1,6 percenta. Táto všeobecná správa však poukazuje na viacero kľúčových faktorov. Na výročnej konferencii svetových centrálnych bankérov poriadanej minulý týždeň v Jackson Hole, vo Wyomingu o týchto problémoch hovoril predseda amerického Fed-u, Ben Bernanke. Znovuzvolený Berna! nke priznal, že ekonomický návrat do “normálu” bol slabší, ako bolo očakávané, naznačil však tiež, že by centrálna banka mala prijať ďalšie opatrenia ako podporiť kolobeh peňazí v systéme. Od decembra roku 2008 americký Fed na bankové pôžičky vyčlenil čiastku viac ako 1 700 miliárd dolárov a približne od toho času poskytoval tieto pôžičky s minimálnou úrokovou sadzbou (medzi 0,25-0,5 percenta). Podľa predsedu Fed-u to však nestačí a hoci pokladal za nutné ďalšie zásahy do ekonomiky, na konferencii nespomenul žiadne ďalšie, konkrétne opatrenia. Namiesto toho spomenul širšie okolnosti stagnutújcej ekonomiky – medzi inými nezamestnanosť, dlhodobý prepad na realitnom trhu a znížen! ú spotrebiteľský dopyt. Úroveň nezame! stnanost i by sa mala aj tento rok držať okolo 9,4 percent, pričom tento odhad znova nenapĺňa optimistické predpoklady. Trh s realitami by podľa Bernankeho mal istú nádej, nakoľko sa ceny prepadli na dlhoročné minimá, zľahčili sa hypotekárne podmienky a veľkosť splátok sa znížila. Ich dostupnosť však nemusí nutne znamenať zvýšený dopyt, američania s výminkou niekoľkých týždňov nemíňali toľko, ako sa očakávalo.To, že Bernanke podporil budúce zásahy však podľa viacerých pozorovateľov nemusí nutne znamenať, že k nim dôjde v tej miere, ako očakával. Komisia, ktorej Bernanke predsedá doteraz neriešila ani otázku, či súčasné opatrenia zmeniť, prípadne predĺžiť. Bernanke! ho strohý príspevok očakávane priniesol istý prepad akcií na trhu, tie však koncom dňa posilnili o 1 percento. Vládne cenné papiere v pondelok klesali, rovnako na nízkej úrovni ostal aj americký dolár.

related story (sgx18105): http://www.france24.com/en/20100827-fed-intervene-economic-r...

by Milota Sidorova for Cantell TV (http://cantell.tv)

Cantell TV is the fastest growing provider of digital broadcasting coupled with telecommunications, allowing people to easily control, view, upload and share digital content through proprietary interface c! oupled with free phone calls. Cantell TV is committed to deliv! ering in finite choices to your world of entertainment at the tip of your fingers.

Bernanke emphasizing further interventions by Milota Sidorova

U.S. economy slid in 2Q and didn't meet the projection of 2.4 per cent growth. The official number moves along 1.6 per cent and indicates several crucial situations. Some of them were commented by U.S. Federal Reserve Chairman Ben Bernanke on an annual conference of global central bankers held in Jackson Hole, Wyoming on Friday. Re-elected Bernanke said economy recovery was much weaker and slower than expected and suggested that central bank would have to take another steps to boost markets. Although Fed kept its interest rates on ultra-low levels and totalled up to $1.7 trillion free for loans since December 2008, it was necessary to take into consideration more actions. ! But Bernanke didn't specify any more details. He spoke about unemployment, house markets and consumer spendings as key factors influencing economy stagnation from a wider perspective. According official data unemployment rate would decrease only with slight pace, falling below 9.4 percent only next year. The demand in real-estate market was still on a low level, but Bernanke kept some hope if prices and mortgages would fall and made them affordable to more people. But on the other hand, U.S. public was more reluctant to spend more past three months. However, this has been long-time period trend if exluded some exceptions like holidays or feasts. According several observers, although Bernanke emphasized further interventions, the committee didn't agree on details or even a common opinion whether to take more action in this case. U.S. stocks followed Bernanke's comments and dropped for some time, but recovered about 1 per cent. U.S. Treasury bond prices went down along with t! he dollar.

related story (sgx18104): http://www.france24.com/en/20100827-fed-intervene-economic-r...

by Milota Sidorova for Cantell TV (http://cantell.tv)

Cantell TV is the fastest growing provider of digital broadcasting coupled with telecommunications, allowing people to easily control, view, upload and share digital content through proprietary interface coupled with free phone calls. Cantell TV is committed to delivering infinite choices to your world of entertainment at the tip of your fingers.

Bank of Japan offering easier loans in search for economic recovery by Milota Sidorova

Last weeks we have heard that Chinese economy challenged Japan and beat it with its 2Q average GDP. For the first time since WWII any other country generated such economy potential to rally with the second richest nation in the world. But although Japan people still remain second richest people in the world (if counted on GDP per capita), long-term is not that economically sustainable. Strong yen and lowering export, relatively weak customer spendings and aging population are playing key factors in predicting the future. Japanese representatives have already replied promising new emergency policies.One of them certainly is a recent extension of domestic funding program via ! Bank of Japan. Although program was introduced in December, government suggested it would be necessary to expand easier loaning policies and support the economy.According to Monday meeting, Bank of Japan would offer around 10 trillion yen (118 billion dollars) for the next six months. The total offered sum would top up to 30 trillion yen backed by the central bank. Domestic financial institutions would be free to take new or extend existing loan during this period, while their key interest rates would remain unchanged at 0.1 per cent. Japanese government launched this program last year and aimed it just for three months. Japan is one of the most developed societies in the world characterized by slowing age dynamics, enormous dependency on international export (especially food) and focus on export of electronics and technologies. Some observers speak of lack of domestic employees, even women. According trends from past decades, Japanese men tend to choose wives even overseas! . This demographic change is refelected within the society and! the eco nomy as a partial marker.

related story (sgx18089): http://www.france24.com/en/20100830-central-bank-extends-fun...

by Milota Sidorova for Cantell TV (http://cantell.tv)

Cantell TV is the fastest growing provider of digital broadcasting coupled with telecommunications, allowing people to easily control, view, upload and share digital content through proprietary interface coupled with free phone calls. Cantell TV is committed to delivering infinite choices to your world of entertainment at the tip of your fingers.

Credit Card Debt Sees Largest Drop in 8 years by Magdalena Rosova

Credit card debt in the United States dropped to the lowest level in more then 8 years in this year's second quarter. The average debt fell to $4,951 in June 30, which is 13 percent less from $5,719 in the same period a year ago. This information was brought by TransUnion. This credit reporting agency further said that for the first time ever since the first quarter in 2002 the card debt fell below $5,000. Credit card debt was the highest in Alaska, $7,148. But even there it decreased 7 percent. A total number of 22 states had higher debt than the national average. The lowest credit card debt was in Alabama where it dropped 27 percent to only to $4,753. It seems that borr! owers were more disciplined and made their payments on time. The number of cardholders that were late with the payments fell to 0.92 percent in the second quarter. Last year it was 1.17 percent. For the first time since 2007 this number was below 1 percent. Ezra Becker, director of consulting and strategy in TransUnion's financial services unit, said that the figures proved that consumers were trying to keep their credit cards in good standing. Cardholders are influenced by fear of unemployment and by collapse of housing market, which toughed them that it's harder to cash in on home equity when money gets tight. The delinquency rate was highest in Nevada, then Florida, Arizona and California. The lowest delinquency rate was in North Dakota and South Dakota. Besides paying down debt, consumers are opening less new bank accounts. The number of new accounts dropped 6.5 percent from last year.

related story (sgx18067): http://finance.yahoo.com/news/Credit-card-debt-drops-to-apf-...

by Magdalena Rosova for Cantell TV (http://cantell.tv)

Cantell TV is the fastest growing provider of digital broadcasting coupled with telecommunications, allowing people to easily control, view, upload and share digital content through proprietary interface coupled with free phone calls. Cantell TV is committed to delivering infinite choices to your world of entertainment at the tip of your fingers.

Hold on, Ireland! by Barbora Misakova

Being the best is what we have been taught since we were kids. And being the worst has always been some kind of warning. These days, when economy is bleeding and there are problems everywhere, being the best can be the same as being the worst. Greece is the best (or the worst?) example. Its debt rating was decreased in April to BB+ by Standard & Poor’s, what is a ‘junk’ status. But Greece, although it is the “best” player in this game, is not the only one who is playing it. Ireland was shaken up on Wednesday by latest decision of Standard & Poor to push its borrowing costs higher. After winning plaudits for moving quickly to tackle its deficit,! Ireland is once again surrounded by debt fears. Standard & Poor cut Ireland’s long-term rating by one notch from ‘AA’ to ‘AA-‘ as there are existing concerns that higher bill will be needed for supporting the banking sector. John Corrigan, the chief executive of the National Treasury Management Agency, has different point of view. “It is a bit like waking up the patient in the middle of an operation to tell him he is not feeling well.” he told Reuters Insider television. As he continued, Ireland realizes that situation is “pretty painful but we have to get to the end of the operation which will be in December.” While Standard & Poor’s estimate represents 45-50 billion Euros for recapitalizing the banks, Corrigan describes their analysis as “flawed”. Irish Prime Minister Brian Cowen has been tackling the worst state deficit in Europe, but rising bill for bailing out nationalized lender Anglo Irish Bank ! threatens to eclipse his fiscal achievements.

related ! story (sgx18077): http://www.france24.com/en/20100825-ireland-credit-rating-do...

by Barbora Misakova for Cantell TV (http://cantell.tv)

Cantell TV is the fastest growing provider of digital broadcasting coupled with telecommunications, allowing people to easily control, view, upload and share digital content through proprietary interface coupled with free phone calls. Cantell TV is committed to delivering infinite choices to your world of entertainment at the tip of your fingers.

Írsko, drž sa! by Barbora Misakova

Byť najlepší – to nás učili už ako malé deti. Na druhej strane, byť tým najhorším bolo vždy akýmsi varovaním, čomu sa oblúkom treba vyhýbať. Po tieto dni, kedy ekonomika doslova krváca a všade je veľké množstvo problémov s financiami, byť tým najlepším môže niekedy znamenať presne to isté, ako byť tým najhorším. Grécko je toho dobrým (či zlým?) príkladom. Jeho rating dlhodobých záväzkov bol v apríli tohto roku agentúrou Standard & Poor zn! 7;žený na úroveň BB+, čo predstavuje stupeň „odpad“. Avšak Grécko, hoci je zatiaľ „najlepším“ hráčom, nie je jediné, kto túto hru hrá. Írsko v stredu zasiahla nepríjemná správa, a to že ratingová agentúra Standard & Poor znížila aj ich rating dlhodobých záväzkov. Zníženie o jeden stupeň (z „AA“ na „AA-„) bolo podľa agentúry potrebné, nakoľko existujú obavy, že na finančnú podporu bankového sektora budú potrebné vyššie náklady. John Corrigan, generálny riaditeľ Agentúry pre národnú finančnú správu, má však iný názor. „Je to ako keby ste zobudili pacienta uprostred operácie, aby ste mu povedali, že to s ním nevyzerá dobre.&! #8220; povedal pre televíznu stanicu Reuters Insider. Ako! dodal, Írsko si uvedomuje, že situácia „je pekne bolestivá, ale potrebujeme prejsť celou operáciou, ktorej koniec bude v decembri.“ Kým odhad agentúry Standard & Poor predstavuje 45-50 miliárd Eur na rekapitalizáciu bánk, Corrigan vníma ich analýzu ako „chybnú“. Írsky premiér Brian Cowen, ktorý sa úspešne vyrovnal s najhorším štátnym deficitom v Európe musí teraz čeliť ďalšej hrozbe, a to že rastúci účet určený na finančnú podporu znárodneného veriteľa Anglo Irish Bank môže ohroziť jeho doposiaľ dosiahnuté fiškálne úspechy.

related story (sgx18079): http://www.france24.com/en/201008! 25-ireland-credit-rating-do...

by Barbora Misakova for Cantell TV (http://cantell.tv)

Cantell TV is the fastest growing provider of digital broadcasting coupled with telecommunications, allowing people to easily control, view, upload and share digital content through proprietary interface coupled with free phone calls. Cantell TV is committed to delivering infinite choices to your world of entertainment at the tip of your fingers.