Here is a rough transcription of the presentation for people who are hard of hearing. Apologies for the lack of grammar, I am working to improve the automated transcriptions -
hello it’s today today that starting United States of America with durable goods orders handed done short chart overlapping them therein read the durable goods over the stock market the S&P in blue and you can see they’re pretty coincident that one goes up the other goes up high would say that if anything the durable goods orders just about precedes the S&P stock market maybe maybe not but you see since the depths of the great recession durable goods orders have been coming in stronger and stronger and stronger and they look arm unstoppably strong the moment they just consistently going up and up so maybe that’ll push the stock market backup because it has to be good news next what housing tracker final report of asking prices in 54 metropolitan areas for September is in house prices and it shows that the year-on-year rate of declines continue to lessen now only -1.7% year-on-year knows the updated chart I went to housing tracker to check on these figures and couldn’t find these actual figures in housing tracker but arm I’m going to hope that their right you can imagine there about right if you read down the am and the years 2007 you can sit starting with the -2-3 then it goes -567 2008 was getting horribly worse minus is always of course -789 1011 2009 started with 11 then went up to 12 hours about the Picts man and then it got better with 987 6545 is 2000 intends were 56 and seven is being see 2011 with a bad start -8 and 765 4291 it’s getting worse less than have to say it it’s not getting as bad slower anyway not bad Blumberg borrowing costs plummeting across the United States for local governments in Munich credit this was supposed to be the worst year ever for United States and municipalities instead they are obtaining money at the lowest interest rates in more than two years after predictions of rising defaults failed to materialise Meredith Whitney have been one representative of the prediction for our great amount of busts in the newly market but they’re getting their rollover costs and new borrowing very cheaply and when it comes down to is all a lot of money circulating round the world is a lot of money in America, where are you going to put it when push comes to shove and keep it in America if it’s American and if it’s outside the world where are you going to bet that is better than America into very hard choice so if in doubt go with a big guy so the on going out into the world in the the potential of the big guy China China’s African mischief this article is written in Tokyo as Libya’s National transitional council attempts to establish a functioning government for a newly liberated country truth about what went on under Col Mama held Gaddafi’s regime is starting to come to light various treasures have been unearthed from Tripoli mansions that were hastily vacated by their owners and what happened to tortured and murdered and the missing is beginning to be revealed so too are some of Gadhafi’s dirtiest diplomatic secrets being exposed on September to the Canadian newspaper the Globe and mail reported on recent negotiations between the embattled the Gaddafi regime and Chinese armaments companies with direct ties to China government for contracts worth $200 million of imagine that all Chinese are on the companies have direct ties to the China government anyway such contracts were in flagrant violation of the arms embargo instituted under UN Security Council resolution 1970 of which China approved China’s been pushing out into the world and Africa being one of the major places it’s been pushing out to and it’s obviously trans-guests transgressing and boundaries as it does push out and as it down pushes up against old established old world boundaries it pushing up against those as well it has been very careful to tread softly but inevitably it will have transgressed some boundaries this chart this is the price of copper probably indicates arm a boundary for China and the emerging markets this is a long chart of copper wire goes back to middle of 2010 but at the business end since August of this year you can see it had a plateau from August to September but really it’s been on the down and down and this represents more than definitely more than definitely more than probably are a real turndown in Chinese production and overall economy turnover and probably for all emerging markets as well and if China turns down the remaining other countries that are now plugged so much into China that they will directly turndown with them Brazil to an extent being one of them this article are taken from our think it’s Blumberg arm it starts Brazil has 27 but I didn’t cross that out that that was political parties it has 27 political parties and they were mocking the United States of America who have only got two solar a lot better with 27 in-vivo reset 63 next Tillman Bruce F inherited just about everything a president could want from a mental or and predecessor Louise Dinas Euroland deaths in the an economy growing at seven aha annual pace and unemployment at 5.3% that was the lowest since at least 2001 Brazil’s Bob Vespa stock market index rose sixfold during Lula’s eight-year tenure as I nor soya bean and sugar exports boomed driven in large part by demand from China number pulled to a half 24 1/2 million people out of poverty in his years in office according to Dalla compiled by good tailor your biogas foundation and Bruce F says that in the next four years she will eliminate extreme poverty in Brazil
Start a miracle subdued and unfortunately for Tillman Bruce F 63 she is not going to get what she wants life just does not go like that you cannot follow somebody like eight years of luminous soup Gramercy fantastic this and expect it to continue it just won’t because life is not like that so I prediction who’s going to be president of Russia next this ugly little boy Wolf I don’t buy that photo one bit about this one this is when you was working in the is the Russian secret service thing called anyway when you work for them but he’s made the big time now he’s been present he’s been Prime Minister and final link number eight Moscow on Saturday afternoon for an Amir Putin announced that he would finally sink reality with formality and become Russia’s actual president yet again once the initial sting wore off Putin seems on track to rule as long as Stalin because he got Medvedev to say well you can rule to lots of six years now wasn’t ferment Medvedev at was four when Putin came back so he’ll take the next six and then the next six if he wants to from this article never perhaps more urgent explanation is the impatience of the market in the AV explanation why Putin has have all this decision forward at least $50 billion have leapt out of Russia this year that’s just one of many miserable economic indicators that point to be trouble ahead ruble at a two-year low sliding domestic stock market indexes a budget that could barely be balanced even if oil were still at $116 a barrel date 107 Brent Siberian oilfields are in decline and it will be decades before Arctic drilling comes online if it ever does centre of world oil production is shifting increasingly to the Americas then is the looming economic crisis in Europe scraping at the door none of it frankly looks very good so Putin’s goal on Saturday may have been to step in and put a firm hand on the wheel to assure everyone that the system was in fact functional at such a sensitive moment the day before behind the scenes of the first day of the convention one of his strategists told the European news channel it’s not the time to experiment with big political change in times such as economic uncertainty Putin’s return for potentially 12 years was supposed to signal an end to talk of such an experiment the speeches he made at the conference including the one about the government’s duty to give bitter medicine were supposed to reassure foreign investors that he would implement urgent reforms or as the famous Kremlinologists all go fish than non-sky had told me the other day modernise or die I would guess there will be more dying down modernise Russia not a happy history will it be a happy future I doubt it CF
