Salient to Investors: Monaco’s sudden, substantial and remarkably efficient spree has grabbed the attention of the soccer world. Monaco and its tax-free status have attracted big-name players in the past. While the economic downturn is hitting clubs hard, and a new 75% tax rate for top earners is about to
READ MORE... →Salient to Investors: within minutes either online William D. Cohan writes: With the expected appointment of Jason Furman as the head of the Council of Economic Advisers, Robert Rubin has completed the remarkable feat of placing 5 of his acolytes in key positions of power in the Obama administration. The
READ MORE... →Salient to Investors: Matthew Kaufler at Federated Investors said the takeaway from today’s statistics is continued bias to keep QE – positive for financial assets as long as that perception exists. Patrick Spencer at Robert W. Baird said the jury is still out on sustainable growth, and Bernanke said he will only start
READ MORE... →Salient to Investors: Charlene Chu at Fitch Ratings says: Total lending from banks et al in China was 198 percent of GDP in 2012 versus 125 percent 4 years earlier, and there is just no way to grow out of a debt problem when credit is already twice as large as
READ MORE... →Salient to Investors: Paul Volcker said: The Fed will fall short by being asked to meet price stability and full employment – a mandate both operationally confusing and ultimately illusory. Asking too much is accommodating misguided fiscal policies, dealing with structural imbalances, to square continuously the hypothetical circles of stability, growth
READ MORE... →Salient to Investors: In Q1, China’s broadest measure of credit rose 58 percent and GDP gained 7.7 percent – each $1 in credit added the equivalent of 17 cents in GDP, down from 29 cents in 2012 and 83 cents in 2007. The IMF said decisive policy changes are needed in
READ MORE... →Salient to Investors: Leemore Dafny’s examination of health-insurance markets is said to have helped mold the state and federal exchanges that are central to Obamacare’s 2010 health-care law. Her 2010 paper in the American Economic Review found that a lack of competition in insurance markets drives up premiums, that insurers charge more
READ MORE... →Salient to Investors: FRB of Boston President Eric Rosengren said: Significant accommodation remains appropriate and warned that inflation could impair growth should it decline further. It may be undesirable to abruptly stop purchases: better a modest reduction in the pace of asset purchases when we see a gradual improvement in labor markets and the
READ MORE... →Salient to Investors: Latin America is disappointing investors, economists and businesses with slower-than-forecast growth as waning commodity prices and strong currencies hit nations that failed to diversify and become more competitive. Economists cut Brazil’s 2013 outlook for the second time in 7 days, forecasting the worst 3-year period in a decade.
READ MORE... →Salient to Investors: Pier Carlo Padoan at OECD said: Global economic growth will accelerate at multiple speeds in 2014 with both the US and Japan continuing to outpace the euro area. Rising unemployment is the most pressing challenge and euro countries with trade surpluses such as Germany need to allow wages to rise Reform fatigue is mounting
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