Dutch Move to End English Drug and Sex Tourism
The Dutch are not going anywhere but down the Toilet as the 3 biggest drug runners in the world are the Windsors/Juan Carlos and Queen Beatrix of Holland. So many drugs come out of Holland. So many. It is a national shame. Notice it is a Pratt, a Romney family relative, selling the drugs to some dopers. Modern THC aka Pot is extraordinarily carcinogenic. Even with a water pipe! Dam the English for their global drug trade and all their Kin who facilitate it. Damn MI6 most of all.
India Corporate Defaults at 10 Year High
MUMBAI, India (AP) — Indian ratings agency Crisil says corporate defaults are at a 10-year high because of a weak economy and tight credit.
During the fiscal year ended in March, 3.4 percent of the companies rated by Crisil defaulted on debts. All told, 188 companies defaulted, the highest ever.
As a result, non-performing loans at Indian banks are rising and more debt is getting restructured.
Debt-ridden industries like textiles, steel and construction accounted for a quarter of the defaults, says Crisil, a Standard & Poor’s affiliate.
China Views USA As Declining Power
Why not, Sirs, Alan Greenspan, Thomas Friedman, Al Gore, David Rockefeller and Prince Charles probably delivered the plan to them!!
Spain’s Debt Jumps to 78pc of GDP!
(Reuters) – Spain’s public debt will surge to around 78 percent of gross domestic product this year, from 68 percent in 2011, Economy Minister Luis De Guindos told The Wall Street Journal in an interview.
Spain’s debt-to-GDP ratio is substantially lower than the other countries struggling most in Europe’s debt crisis, but it is already well above the European Union’s recommended 60 percent ceiling and will continue to rise largely due to its inability to generate growth while it cuts budget spending.
As the southern European country battles to convince European Union partners and debt markets it can rein in its deficit, De Guindos also said Madrid must strike the right balance between deep spending cuts and going too far in its austerity bid.
“If you don’t make enough adjustments, markets will penalize you. But if you go too far, markets could also penalize you,” he told the paper.
Spain on Friday announced it would cut 27 billion euros ($36 billion) from the central government budget over the rest of 2012, equivalent to around 2.5 percent of gross domestic product.
Japan M3 Dropping Again
European Stocks Fall; Banks Lead Losses, Cairn Advances
European (SXXP) stocks dropped, paring the benchmark Stoxx Europe 600 Index’s biggest two-day rally since February, as Spanish bond yields rose and U.S. factory orders rebounded less than economists had estimated.
Banca Popolare di Milano Scarl (PMI) led a gauge of European (SXXP) banking shares lower. Sodexo (SW) SA dropped 2.2 percent after Morgan Stanley recommended selling its shares. Cairn Energy Plc gained 4.4 percent after agreeing to buy Agora Oil & Gas AS, which is owned by RIT Capital Partners Plc and Jacob Rothschild. Lonza Group AG (LONN) advanced 2.4 percent after it named Richard Ridinger as chief executive officer…
PBOC’s Zhou Urges Fed to Consider Global Effect of Policy Easing
How about if PBOC/China /Asia quits pegging their currencies to the $?
China’s central bank Governor Zhou Xiaochuansaid the U.S. Federal Reserve has a responsibility to consider the global effects of its actions after emerging-market economies suffered from capital inflows.
Because the U.S. dollar is the world’s main reserve currency, the Fed “may have more responsibility not only to consider the U.S. economy but also the global economy,” Zhou said today during a panel discussion at the Boao Forum for Asia on the southern Chinese island of Hainan.
hou’s comments reprise criticism of the U.S. from emerging nations who complained that so-called quantitative easing was sending unwanted cash into their economies, adding to inflation risks. Fed Chairman Ben S. Bernankesaid last week the central bank will consider further stimulus, even after upgrading its economic outlook March 13.
For China and some other emerging economies, the policy goal is to “gradually bring inflation down” to help achieve a so-called soft landing, and China is using interest rates combined with additional tools to achieve that, Zhou said. He declined to comment when asked if the central bank is planning any adjustments to monetary policy.
Expanding domestic demand and reducing the trade surplus have also been part of China’s strategic plan since the global financial crisis, Zhou said today.
Premier Wen Jiabao has pledged to “fine-tune” economic policies as needed as weakness in export demand and a cooling housing market restrain an economy that probably grew at the slowest pace in almost three years in the first quarter. Analysts in a Bloomberg News survey last week unanimously said that banks’ reserve requirements will fall this year, while nine of 20 predicted lower benchmark borrowing costs.