Peculiarities of Russian National Character
Peculiarities of Russian National Character Zimnik ← Ancient Slavic god Zimnik: a squat old man, long hair the color of snow, wears a white coat, always barefoot. Carries an iron staff, one swing with which instantly freezes everything solid. Can summon snowstorms, ice storms and blizzards. Goes around taking whatever he likes, especially children who […]
Continue ReadingOpen a Forex Account with Pepperstone
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Continue ReadingForex domains for sale
Forex domains for sale:www.ctaresults.comwww.eesfx.comwww.forexlinkexchange.comwww.trade.net.nzwww.forexsynthesis.comwww.forex-automatic-trading-systems.comwww.elite.com.mt www.openforexaccount.com If you are interested in purchasing these do…
Continue ReadingThe First Shale Casualty: WBH Energy Files For Bankruptcy; Many More Coming
American oil and gas companies have gone heavily into debt during the energy boom, increasing their borrowings by 55% since 2010, to almost $200 billion.Their need to service that debt helps explain why U.S. producers plan to continue pumping oil even as crude trades for less than $50 a barrel, down 55% since last June.But signs of strain are building in the oil patch, where revenue growth hasn’t kept pace with borrowing. On Sunday, a private company that drills in Texas, WBH Energy LP, and its partners, filed for bankruptcy protection, saying a lender refused to advance more money and citing debt of between $10 million and $50 million. Neither the Austin-based company nor its lawyers responded to requests for comment.Energy analysts warn defaults could be coming. “The group is not positioned for this downturn,” said Daniel Katzenberg, an analyst at Robert W. Baird & Co. “There are too many ugly balance sheets.”…In 2010, U.S. companies focused on producing oil and gas had $128 billion in combined total debt, according to financial data collected by S&P Capital IQ.As of their latest quarter, such companies had $199 billion of combined total debt.Before crude prices began falling, U.S. oil and gas producers were able to acquire leases and drill wells even if that meant outspending their incomes. Debt was used to bridge the cash shortfall so that companies could develop oil fields in Texas, North Dakota and newer locations including Colorado.
The upshot of cash conservation and higher borrowing costs will be less money spent on producing oil and natural gas.Concho Resources Inc. said late Monday that it was cutting its capital spending budget by a third, to $2 billion.
Fed’s Evans “Catastrophe” Comment Sparks US, Japan Stock Surge; China Purge
Chicago Fed’s Charlie Evans appears to have decided to flex his voting member status, Bullard-ness this evening. Speaking during a forum in Chicago, after The FOMC Minutes showed data-dependence was the thing… Evans exclaimed “raising rates woul…
Continue ReadingWill 2015 Be A Year Of Economic Disaster? 11 Perspectives
http://www.zerohedge.com/news/2015-01-06/will-2015-be-year-economic-disaster-11-perspectives
Continue ReadingBild Warns German Govt Fears Greek Bank Runs, Financial System Collapse; Prepares For Grexit
Der Spiegel magazine reported on Saturday that Berlin considers a Greek exit almost unavoidable if Syriza wins, but believes the euro zone would be able to cope.Vice Chancellor Sigmar Gabriel said on Sunday that Germany wants Greece to stay and there are no contingency plans to the contrary, while noting the euro zone has become far more stable in recent years.As the euro zone’s paymaster, Germany is insisting that Greece stick to austerity and not backtrack on its bailout commitments, especially as it does not want to open the door for other struggling members to relax reform efforts.
Germany is making contingency plans for the possible departure of Greece from the euro zone, including the impact of any run on a bank, tabloid newspaper Bild reported, citing unnamed government sources.The newspaper said the government was running scenarios for the Jan. 25 Greek election in case of a victory by the leftwing Syriza party, which wants to cancel austerity measures and a part of the Greek debt.In a report in the Wednesday issue of the paper, Bild said government experts were concerned about a possible bank collapse if customers storm Greek institutions to secure euro deposits in the event that Greece leaves the zone.The European Union banking union would then have to intervene with a bailout worth billions, the paper said.
We have always argued that a Grexit would be painful for both the Eurozone and Greece, but relatively more painful for the latter. As such, it has always seemed unlikely that Greece would unilaterally seek to exit the euro. This still seems to be the case, though there have been internal shifts. As we noted in Part 1, the economic and financial contagion from a Grexit could likely now be more easily contained. This allows the Eurozone to take a harder line with Greece, not least since giving into SYRIZA, will send the message to Podemos and others that fiscal discipline etc is fair game.So the Eurozone may be less nervous about Grexit and feel it has more reason to stick to the rules as it has laid them out, which may harden its negotiating stance. Equally though, Greece may have more reason to think a Grexit could be economically manageable, which could encourage a SYRIZA-led government to stick to its guns more firmly. This to us suggests the clash could be bigger and the negotiations more difficult this time around. Ultimately, though – with hundreds of billions of euros and the political project of the euro at stake – it still seems likely someone will blink and a fudge will be on hand as is usually the way in Europe. Allowing Greece to remain inside the euro for now.
Greek stocks were closed on Tuesday (but ETFs in the US were notably lower) as Greek bond prices tumbled…
Behold The “Cheap Gas” Spending Surge: $1 More Per Day
For all the endless media buzz pitching the bullish spin of plunging gas prices, namely that while crude capex spending and energy company earnings are both crashing, high-paying shale jobs are about to suffer pervasive layoffs and energy HY bonds are …
Continue ReadingIs Citi The Next AIG?
Earlier today, when we were conducting a routine check with the Office of the Currency Comptroller’s on the total notional amount of derivatives held at the Big 4 banks in the context of the “JPMorgan break up” story, we found something stunning: using…
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