News and Trends

July 29, 2015

IMF paints dim picture for Europe, suggests more money printing may be needed - Yahoo! Finance--7.27.15
IMF warned that the euro zone's prospects are modest and more money printing may be needed than planned.

Forget Recession: According To Caterpillar There Is A Full-Blown Global Depression - Zero Hedge--7.22.15
According to Caterpillar's monthly retail sales report there is a "global depression going on" not only in China, but in the U.S. as well.

Greek banks reopen but cash limits remain; taxes soar - AP News--7.20.15
Greek banks have finally reopened their doors on Monday for the first time on over three weeks. However, there is still a limit on the amount of cash individuals can withdrawal.

China says gold stash rose almost 60% in six years - Yahoo! News--7.20.15
China's official gold reserves rose by almost 60 percent over the past six year, according to the recently released data.

Why most of the world’s banks are headed for collapse - Business Insider--7.16.15
The world's economy is based on unsound banks dealing with unsound currencies. Banks today will continue to print more dollars in order to prevent deflation at all costs.

Rome is on the verge of collapse and needs urgent repair, leaders warn - The Telegraph--7.16.15
Rome is facing a crisis as the city administration becomes engulfed with corruption scandals and debt, growing immigration, damaged roads and a partially closed airport.

Initial Jobless Claims 'Weakening Trend' Hits 3-Month Highs - Zero Hedge--7.16.15
Initial jobless claims were reported to be on a downward trend, but still hovering near the average for the year. However, the smoother 4-week average rose to 282K, the highest in three months.

Initial Jobless Claims Spike To Highest Since Feb, Near Crucial 300k Level - Zero Hedge--7.9.15
Initial jobless claims have surged nearly 30k in the last two weeks and it the worst claims since mid-February.

Hack of security clearance system affected 21.5 million people, federal authorities say - Washington Post--7.9.15
It has just been reported that the massive hack on the Office of Personnel Management's system affected 21.5 million people including current and former employees.

China Bans Stock Sales by Major Shareholders for Six Months - Bloomberg--7.8.15
China's securities regulator has banned major shareholders from selling stakes in listed companies for six months in an effort to stop the nation's $3.5 trillion stock-market rout.

Trading resumes on NYSE after nearly 4-hour outage - CNN Money--7.8.15
The New York stock exchange suspended trading for nearly four hours. The exchange said it was experiencing an "internal technical issue."

Greece Said to Delay Offering New Plan on Debt - The New York Times--7.7.15
Greece's new finance minister arrived at his crucial meeting of his eurozone peers without the new bailout proposal many were expecting.

Greek banks prepare plan to raid deposits to avert collapse - CNBC--7.4.15
Greek banks are preparing plans for a possible "bail-in" of depositors as many fear the country is heading towards a financial collapse.

The next Greece may be in the U.S. - Market Watch--6.30.15
Several cities in the United States have already had to file for bankruptcy. The United States may soon suffer the same problems as Greece.

Puerto Rico governor calls for bankruptcy; adviser says island 'insolvent' - Reuters--6.30.15
Puerto Rico's governor called for Washington to allow a bankruptcy debt restructuring as the island is struggling to relieve a $73 billion debt burden.

Greece’s Debt Crisis Sends Stocks Falling Around Globe - NY Times--6.29.15
Stocks slumped on Wall Street after Greece closed its banks on fears that the country was headed toward default.

"News and commentaries posted at Swiss America does not necessarily express the opinions of Swiss America nor of its personnel. Swiss America attempts to post only credible news and opinions, however we do not take responsibility for the accuracy of external content nor should it be construed as an endorsement."

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