24 Jul
Posted by Jacob Stewart as Credit Cards Guide
Eurosceptics warned from the outset that EMU was unworkable as constructed and would lead ineluctably to the traumatic choice of break-up or fiscal union.
They never wavered in their faith that EU states would yield sovereignty to save the euro if push came to shove, that monetary union would force the pace towards joint EU government.
So it proves to be, for now. But let us not forget that Europe’s ideologues have achieved this only by pushing the world to the brink of catastrophe and holding parliaments to ransom with their great gamble, just as the West’s financial elites held parliaments to ransom in the banking crash of October 2008.
Once yields on 10-year Spanish and Italian bonds had blown through 6pc, global leaders knew we risked a second and more dangerous Lehman-AIG debacle within days. You cannot let two world class sovereign states blow up together. “The situation was really grave,” said Herman Van Rompuy, Europe’s president.
It is why President Barack Obama telephoned German Chancellor Angela Merkel to plead urgency.
It is why Britain’s well-briefed Chancellor George Osborne abjured the central credo of Tory policy on Europe for twenty years and more or less urged EMU leaders to embrace fiscal union, warning of “the potential for a set of economic events that could be as damaging as 2008.”
Angela Merkel was steamrolled by events.
Yielding with a gun held to your head is hardly a fair test of civic enthusiasm for EU integration. Read more…
This week we have seen a significant price spike in “long” natural gas related ETFs.
For instance, First Trust ISE Natural Gas has rallied nearly 10% this week alone on the heels of the announcement that BHP Billiton would purchase Petrohawk Energy .
Petrohawk currently makes up 4.08% of FCG’s portfolio and is the second largest holding, so this acquisition has created a tailwind in the sector.
Direxion Daily Natural Gas Related Bull 2X has returned over 16% this week after surging above its 50-day moving average line.
GASL can potentially be used for leveraged directional bets on the long side of the natural gas related equity space.
On the flipside, Direxion Daily Natural Gas Related Bear 2X is a daily leveraged product that would offer the investor exposure to the “bear” side of this trade, and may appeal to those that may believe the short-term runup in the sector is overdone.
Direxion Daily Natural Gas Related Bull 2X
The Singapore Company Registrar, also referred as the Accounting and Corporate Regulatory Authority , is the government bureau that oversees the businesses in the country and double-checks that they stick on to the laws and guidelines.
It is significant to note that the requirements and compliance matters needed to enterprise owners largely count on the structure they have taken up for their enterprise.
In the meantime, these are the basic types of business structures, according to the Singapore Company Registrar:
Sole proprietorship
Regarded as the simplest and easiest to organise business setup, the sole proprietorship is generally ideal to micro- and small-sized enterprises.
One basic attribute of sole proprietorship is that it is owned by one individual who is personally liable for all the financial deficiency, duties, debts, and other liabilities of his enterprise which is not considered as a lawful entity.
The earnings of a sole proprietor are subjected to the individual income tax rate which means that it is not a must to submit his annual returns.
22 Jul
Posted by Jacob Stewart as Credit Cards Guide
Rumours that Barack Obama was prepared to relent on tax rises provoked a furious response from Democrats
As the temperature hits 100 degrees in the US capital, The White House, and Democrats and Republicans in Congress, have just over a week to find the common ground that allows them to lift the country’s $14.3 trillion (£8.7 trillion) debt ceiling. The heat on the chief players has intensified in the 48 hours since European leaders agreed a fresh Greek bail-out.
That wasn’t enough to move US stock and bond markets out of the tight range they’ve traded in all week, as traders are torn between the talk’s lack of progress and scepticism that politicians would risk a default.
The rumours that emerged late on Thursday that President Barack Obama and John Boehner, the top Republican in Congress, were close to agreeing a deal that would see a $3 trillion cut in the deficit were downplayed on Friday. “There was no agreement, publicly, privately. Never an agreement and frankly not close to an agreement,” Mr Boehner said. “And so I suggest that it is going to be a hot weekend here in Washington.”
Congress is in the awkward position of trying to conjure up a deal on long-term deficit reduction as a condition of raising the debt ceiling by August 2, when the Treasury has said it will run out of money to pay its bills. Read more…
U.S. mortgage rates went largely undisturbed this past week, following mixed economic reports.
Amid mixed economic reports, U.S. mortgage rates went largely undisturbed this past week.
Fifteen-year fixed-rate loans averaged 3.66 percent, up from 3.65 percent.
And a one-year adjustable-rate mortgage averaged 2.97 percent, near a record one-year ARM low of 2.95 percent last week.
“Mortgage rates were virtually unchanged this week amid mixed economic data reports,” said Frank Nothaft, chief economist at Freddie Mac.
While the overall producer price index and consumer price index fell moderately last month on lower energy costs, the core price indexes inched up.
In addition, consumer sentiment sank to the lowest reading since March 2009, based on figures from the University of Michigan.
Housing starts rose 9.4 percent in June, the strongest increase in single family housing construction since last November. But existing-home sales fell 0.8 percent last month to the lowest level since last November.
Much of the U.S. housing market is showing strain. For