U.S asks for G20 friends help by Zivka Deleva

I am fed up with the United States wishes! Have you ever heard of some other country looking for something so much than the U.S.? I know I am being weight too ironalical, but it is always the world policemen to ask others to do something in their favor. This time, U.S official has provoked the Group of 20 countries, or globally popular G20, of the economically most powerfull countries in the world, to allow the currencies to rise more freely. This comes not by hazard at the moment, G20 finance ministers are going to gather in Gyeongju, South Korea exactly this weekend. The currencies must be discussed more, think Treasury Department officials. This provokation came after c! hineas yuan has frightened U.S.dollar. The financial game that China is so well playing has made the States angry few months ago and though politicians have tried to find themselves partners in mind, they didn't succeed to do a lot in that. The global currency tension rose. I am not saying that Americans are doing something wrong at the moment, but how come, it is always their concern about everything? U.S. financial policy is the most afraid of the "competitive nonappreciation". I kind of understand the fear, because China is knock-down-drag-out! The idea would be to agree to a pre-set limit on the size a country's current account surplus or deficit should reach, expressing it in terms of a percentage of national output, in economical terms. The dollar has noted one of the big fall. That's why a lot of investors have searched for another markets to put their money on, like Brazil, for example. As far as the G20 is concerned, the United States swear by this organization. T! hey have big expectations that what they can not solve on thei! r own, t he "friends of the band" would be able to do. A destructive world-wide trade war would be the new kind of warfare for the new world. And, where the money lye, there must be war, no matter if without arms. I am fed up with the United States wishes! Have you ever heard of some other country looking for something so much than the U.S.? I know I am being weight too ironical, but it is always the world policemen to ask others to do something in their favor. This time, U.S. official has provoked the Group of 20 countries, or globally popular G20, of the economically most powerfully countries in the world, to allow the currencies to rise more freely. This comes not by hazard at the moment, G20 finance ministers are going to gather in Gyeongju, South Korea exactly this weekend. The currencies must be discussed more, think Treasury Department officials. This provocation came after Chinas yuan has frightened U.S.dollar. The financial game that China is so well playing has made t! he States angry few months ago and though politicians have tried to find themselves partners in mind, they didn't succeed to do a lot in that. The global currency tension rose. I am not saying that Americans are doing something wrong at the moment, but how come, it is always their concern about everything? U.S. financial policy is the most afraid of the "competitive unappreciation". I kind of understand the fear, because China is knock-down-drag-out! The idea would be to agree to a pre-set limit on the size a country's current account surplus or deficit should reach, expressing it in terms of a percentage of national output, in economical terms. The dollar has noted one of the big fall. That's why a lot of investors have searched for another markets to put their money on, like Brazil, for example. As far as the G20 is concerned, the United States swear by this organization. They have big expectations that what they can not solve on their own, the "friends of the band" wo! uld be able to do. A destructive world-wide trade war would b! e the ne w kind of warfare for the new world. And, where the money lye, there must be war, no matter if without arms.

by Zivka Deleva 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.

Fed survey showed uneven growth by Magdalena Rosova

In early fall, the U.S. economy experienced uneven growth. More than half of the country's regions expanded a bit but others stagnated. According to a survey provided by the Federal Reserve and released on Wednesday, seven out of the 12 regions had moderate improvements in business activity. Regions Philadelphia, Richmond and Cleveland reported mixed or steady economic activities. Atlanta and Dallas described its economic growth as slow. The economy is not weak but its growth is too slow to impact high unemployment. The unemployment rate in the U.S. is now for more than a year above 9.5 percent. Firms are reluctant to hire new employees. High unemployment is probably the bi! ggest concern of the Fed. It is widely expected that Fed Chairman Ben Bernanke and his colleagues will introduce a new program that should bolster the economy. Their official meeting is planned on Nov. 2-3. The Fed will probably buy Treasury bonds to drive down interest rates on mortgages and other deb. Cheaper credit should encourage Americans to increase their spending, which would boost economy growth and consequently enforce companies to hire new workers. Fed policymakers will discuss the Fed's survey, also called Beige Book, at the November meeting. The survey is based on information that had been collected from the Fed's banks in twelve regions. The survey was held before Oct. 8 and it is more than just broad statistics, it gives useful information about the overall economy. Economist Jennifer Lee said that it was positive to find out that the overall read had not been as depressing as it could had been.

related story (sgx18452): http://www.miamiherald.com/2010/10/21/1883533/fed-survey-poi...

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

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Bank of America questioned over mortgages by Zuzana Zelenakova

These days, mortgages in the US are one big mess. Both investors and White House mounts pressure over lenders and threatenes to hold them responsible for any illegally performed foreclosures. Recently, Bank of America halted all foreclosure activities in the States as hundreds of thousands borrowers are angered over questionable practices lenders used to claim people´s homes. Take for example 49-years-old Curtis Jones from Florida, seven years ago he took a mortgage with Countrywide Financial Group to buy his house. Now the company has initiated foreclosure process, however, according to the MERS (Mortgage Electronic Registration System) records his loan is currently ! owned by Fannie Mae. Thus Mr.Jones´s lawyers can argue the case is no longer valid. There are millions of people in the US who deal with the similar problem right now. Many hope that the mortgage chaos will shed more light on how banks treated homeowners since the recession and that their mortgages could be restructured in the process. According to the statement Bank of America issued foreclosures are to be halted until “our assessment has been satisfactorily completed. Our ongoing assessment shows the basis for foreclosure decisions is accurate. We continue to serve the interests of our customers, investors and communities. Providing solutions for distressed homeowners remains our primary focus.” President Obama´s spokesman Robert Gibbs stressed that bank face heavy fines and legal action if investigators confirm the suspicions. "As institutions are determining their next steps in addressing these issues, we remain committed to holding accountable an! y bank that has violated the law," he said. Meanwhile people r! emain wo rried they miht loose roofs above their heads any time. "You don't know where things are going to end up," said Walt McMurray from Loxahatchee, Florida. "I just keep worrying that someone will show up at the door to kick us out and change the locks."

related story (sgx18434): http://news.yahoo.com/s/nm/20101019/bs_nm/us_usa_foreclosure...

by Zuzana Zelenakova 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, up! load 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.

Fed still pursuing asset purchases by Zuzana Zelenakova

According to Federal Reserve Chairman Ben Bernanke the Fed´s asset purchases helped to lower borrowing costs and thus contributed to the improvement of current financial conditions. As he said the program "increased the willingness of investors to take a reasonable amount of risk and create some support for the economy," he said. "I think it was an effective program." However, not all the experts are convinced as fara s the effectiveness of further purchases is concerned. There is a risk of diminishing returns from the Fed´s next Money printing. The Fed pursues this recent policy as the recovery in the US is not going that well as the unemployment rate reached al! most 10 percent and inflation slumped even below the central bank´s predictions. Low inflation in turn raises concerns about possible deflation. "One should not expect too much from further quantitative or credit easing," said Olivier Blanchard, the chief economist of the International Monetary Fund. "It should be done but the implications for the economy will be limited." "There's a lot of questions about quantitative easing and how it works and how communications policies work, but they need to be tried because this is still a crisis," said former White House economic adviser Christina Romer. As far as the unemployment rate is concerned President Obama stressed that USA experienced eight months of job growth in a row, however, the problem is that the crisis left „much bigger hole to fill“. That means further acceleration of job growth. As it comes to money printing, it will affect not only markets at home but also abroad. The weak dollar will mean tighte! r monetary and fiscal policy for emerging economies. "A lower ! dollar a nd a lower euro is fine for all of you, but it's not fine for us. You are making us uncompetitive and we are the people sitting on the 25 percent unemployment and we need to work our way out of it," said South African Finance Minister Pravin Gordhan.

related story (sgx18380): http://news.yahoo.com/s/nm/20101010/bs_nm/us_economy_weekahe...

by Zuzana Zelenakova 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.

Foreclosure bill will shake America! by Barbora Misakova

Well, well – this is not going to be funny anymore. Making decisions between falling economy and impoverished citizens is not enviable. The bill, which would have made it more difficult for homeowners to challenge foreclosures, has been sent back to the House of Representatives for further discussion. Obama would like to know, how it would affect the foreclosure crisis – one of the most visible signs of the deep economic problems. As the White House communications director, Dan Pfeiffer said: “We believe it is necessary to have further deliberations about the intended and unintended impact of this bill on consumer protections, including those for mortgages! , before this bill can be finalized.” Nevada, where are the highest foreclosure rates in the nation, is asking for the largest mortgage servicers to suspend foreclosures. According to And Towns, a New York Democrat, there should be started investigation of allegations of fraud and other criminal activity. For him there are some borrowers who don’t deserve decent and fair treatment. Ally Financal Inc’s GMAC Mortgage, together with JPMorgan Chase & Co and Bank of America announced they are suspending some of their foreclosures for checking if they have been conducted properly. Wells Fargo and Citigroup are “confident” in their foreclosure paperwork and they do not plan to halt foreclosures so far. Debate over foreclosure procedures comes just weeks before the November congressional elections, and for uninvolved people it can be pretty messy to understand who is actually playing with these cards. Whether it has anything to do with us or not, the p! lan to take over 1.2 million homes this year would shake by an! yone!
related story (sgx18358): http://news.yahoo.com/s/nm/20101007/pl_nm/us_usa_housing_whi...

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 t! he tip of your fingers.

Businessmen to help the U.S economy by Zivka Deleva

The White House opened its door to the technology CEO’s that have idea how to improve the budget of the country and to make the deficit a past thing. United Stated of America’s deficit at the moment is $1 trillion, and companies bosses find out that in the next ten years they know how to help the biggest economy in the world. Six major technological global giants gathered on Wednesday on a meeting at the Technology CEO Council. The leader of the businessmen was IBM Corp’s. The team led by Samuel Palmisiano tried to convince the government that the main issues that should be settled for the country to come out of the financial “flood”, are the! worker productivity and the taxpayers money. President Barack Obama for some time now had listened to all the bad speculations that he doesn’t think straight on the business climate improvement. Aware of how important criticism is, he decided to call the most important technology masters and listen to what they have to say. The biggest critic on him was that he didn’t make anything to make the business initiatives more positive and existing. Well, Obama was the most concerned how to convince the Senate that the health reform is the most important thing that he must have done during his mandate. "America's growing national debt is undermining our global competitiveness. How we choose to confront and address this challenge will determine our future environment for growth and innovation" – the members of the council said. The unemployment rate is almost 10 percent now and has no clear sign that that is going to change any time sooner. Beside IBM, there! were representatives from Motorola, Intel, Micron Technology ! and othe rs.

by Zivka Deleva 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.

Enchanted economic circle! by Barbora Misakova

There is no doubt that Americans are one of the wealthiest nations of all. But I would say they are also one of the saddest ones. If you measure your happiness on the basis of your financial resources then the happiness must be just as omissible as these resources. Spring was in sing of sharp drop of American’s economic growth. As the measures of economy’s health have shown, gross domestic product is weak as well. Its 1.7 percent rate in the April-June quarter was in comparison with its rate from month ago (when it came up to 1.6 percent) just a bit stronger. But the future will not look any better. Although consumers’ spending moved up a bit, it is still ! not enough to have a major impact on the economy. What is worse, most economists and analysts expect growth to be similarly weak also in the July-September quarter. Estimates range between 1.5 and 2 percent, but I have courage to say, it is too courageous guess. Unemployment, which is still holding its 9.6 rate, is expected to stay high. Some analysts even expect it to rise in the coming months. And where are no jobs, there are no money. And where are no money, there is no consumers’ spending. As Americans are not spending enough, companies don’t have that kind of confidence in the economy they need to start hiring again. And this is like this enchanted circle looks like. As roughly 70 percent of economic activity is accounted by consumer spending, you can imagine how big are the troubles America (and we all as well) are in. Even though the numbers of saved disposable incomes are higher this year, in reality these are the only rising numbers that are not optimis! tic at all.

related story (sgx18303): http://news.yahoo.com/s/ap/us_gdp;_ylt=AtuT51wdMnafpnqLfZQeP...

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.