China is STILL the largest UST holder | read this item
After all the hullaboo about China selling off US treasuries to be No 2 holder behind Japan, it seems that new piece of information indicate that China is holding roughly 895 Bn UST far more than the $755 bn reported earlier.
Chain Daily reporting:
The report quoted the new government data as saying that China [...]
India: States finances worsen, RBI Study | read this item
RBI latest report
The combined fiscal deficit of India’s 28 states will likely go up to 3.2% of their gross domestic product (GDP) in the 2009-10 fiscal year, up from 1.5% in 2007-08 and 2.6% in 2008-09. Twenty-two states have budgeted a fiscal deficit ratio above their fiscal responsibility legislation target of 3% in 2009-10. [...]
The German finance ministry has said that countries using the euro currency will together provide aid worth between 20 and 25 billion euros ($27.2 and $34 bilion ) for Greece, the German weekly magazine Der Spiegel reported on Saturday.
Citing “initial considerations” by the ministry, Der Spiegel said each country’s share of the financial aid for [...]
Greece and Argentina: Similarity Uncommon! | read this item
Marktwatch produced quite an interesting comparison between Greece in 2010 and Argentina in 1999.
Hard currency regime where officials had no control of monetary policy. Leading up to the crisis Argentina was operating under a “hard currency” monetary regime (a currency board that guaranteed convertibility from pesos to dollars on a 1:1 ratio) that had [...]
India: Pre budget Analysis of government Balance Sheet | read this item
In an year where government around the world have recklessly spent billions (and in the case of US, Trillions) of tax payer money in a desperate effort to ward of any deflation and spur economic growth, India has not lagged behind. The worrying aspect of India spending is not the sheer scale at which it [...]
India gross debt has come down from 63% in 2004 to 57% in 2009 and achieves the rare distinction of being among the very few economies in the world t o have deleveraged at the government level in the worst crisis the world has seen in half a century.
US President Economic Report to Congress | read this item
26788482 Economic Report of the President
While it is a good read, it makes some massive assumptions to portray an improving economy rather than paint the true picture of an economy that is still in critically wounded state. It focusses a great lot on President initiative to contain the contraction but brushes aside the huge [...]
The budget projects that the deficit will peak at nearly $1.6 trillion in the current fiscal year, a post-World War II record, and then decline but remain at economically troublesome levels over the remainder of the decade. In the coming fiscal year 2011, which begins in October, the projected shortfall would be under $1.3 trillion. [...]
The budget forecasts cutting $1.2 trillion from the deficit over the next 10 years.
- The largest saving will come from Obama’s plan to allow 2001 and 2003 tax cuts on wealthy American families earning more than $250,000 a year to lapse on schedule next year, boosting revenue by $678 billion over 10 years.
- Obama has [...]
Bill Gross: FED will exit in March | read this item
The latest PIMCO newsletter suggests that 2010 will be year of caution and change. And yet he gives ample suggestions to the coming holocaust in financial markets if things do not go as planned.
The latest US and UK deficit is graph straight for the records. It is almost eclipsing the vertical rise of equity markets [...]
India: Pre budget Analysis of government Balance Sheet | 
India: Debt comes down | 
US Budget: Sorry state | 
Bill Gross: FED will exit in March | 
