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 there are people let’s start in the United States of America and the leading economic indicators from economic picked this is the one where he puts lines in for what the Fed can control and what the Fed could not control and both of them have now gone negative this is negative on those which are leading economic indicators adequacy generally arm over the last nine months they have been showing positive but over the last three months they have moved negative negative negative this is a leading economic indicator of the probability of the whole American economy moving from blah +2 blah blah blah right next I’ve taken this little snip from Amazon.com because I’m naughty like that this Peter Schiff has got a new book out it’s being released on 22 May time a few days and Amazon were thinking of rigid route releasing it 2599 but it is reduced down to 1699 and only really throwing that in because I would think will be all sorts about inflation and hyperinflation in the book but Amazon think the book is deflationary moving on right German police used only 85 bullets against people in 2011 now this is kind towards the American end of the everything because this is to show Americans that or USA ends that things can be done differently according to Germany’s – really good German police shot only 85 bullets in the whole of 2011 a stark reminder that not every country is as gun crazy as the United States of America most of those shops shops went even aimed at people 49 were warning shots 36 shots were on suspects making for 15 people injured and six killed later in the article we get one incident in the United States in Los Angeles I think where police let loose 90 rounds of our amount on an unarmed man who was trying to escape them so 90 on one are unarmed man in Los Angeles more than the entire police force in the in tyre country of Germany for the entire year of 2011 just saying what we got here at cargo this is from the Euro and quite interesting I haven’t done air cargo before this is world air cargo which is in grey and the global industrial production growth which is in read both of these are percentage up and percentage down type things and even see the general shape that the great coming down or both of them together parallel was for the great recession and you can see before that the was a vague correlation between the two and is since the great recession it really been tight and what we have the moment is industrial production coming in later than the information on air cargo growth and industrial production is hanging on their in the air and where is it going to fly to or is it going to fall if the correlation continues it will follow air cargo growth down through the 02-5 and on down towards -10 trying to emulate the great recession as just another thing to say the United States is going from blah +2 blah the rest of the world wherever they might be ongoing to come down a notch probably from where they are right and China obviously has to be taken into account here and also splashed on list.com has had a go at this we have is capital flowing blue bars in blue trade surplus in red and green is the the the two of them added together or taken away depending which where they are fossil negative so the trade surplus if they are export more than eight import which is obviously normal for China rising sea going back to 2008 it’s very rare that they import more than may export a couple of little turndown is one really big one are couple of months ago the more important one from this chart is capital flow money coming in to say build a new factory in China or whatever and that has really come down again it was generally except in 2008 whether a couple of examples of sticky down this it’s generally all sticky upness but if you look back the last six months for of those last-ditch the six months have been sticky downing are the general consensus is that you don’t put your money into China at the moment because they are looking well dodgy right over into Europe we got to do a little bit of Europe and just an exhibition to show how old desperate people are to come up with ways of Europe getting out of its problems is X ECB chief tree Chez unveils a bold plan to save Euro Europe could strengthen its monetary union by giving European politicians the power to declare a sovereign state bankrupt and take over its fiscal policy the former head of the European central bank said on Thursday in unveiling a bold proposal to salvage the Euro so let’s Gopher that again Europe could strengthen its monetary union so stick everyone together a lot stronger by giving European politicians at the vaguest net European politicians but European politicians okay the power to declare a sovereign state France for example Spain Greece Italy Germany declare a sovereign state bankrupt the European politicians get together have a committee meeting and say Germany is bankrupt Italy is bankrupt Greece is bankrupt whatever it might be and then take over fiscal policy in other words basically and the European politicians take over the running of that are sovereign state not very sovereign so I would be imagining somewhere along the line that the various sovereign states that would be involved in this would have to have a little chip each chitchat in their own arguments Parliaments at Parlane speaking now have a little speak to each other in their own parliaments less sovereign parliaments and is say do we want to is I’m sure that have to sign something do we want to sign over to European politicians the power when they see fit in their committee meeting to declare us us are sovereign bankrupt and then take over our fiscal policy basically take over the running of our government do we really think that they are going to sign that so it again it’s just to show how desperate these people I is just another example ruck there they’re all over the place plenty of ideas of how to solve this Euro crisis that they are all horrible because there is no easy way was no even nice way or semi-nice way or non-horrible way to call good to kick your if it even possible this Eurozone crisis but I put this one in and yellowed up to date which is much 10 March the 10th in 2010 so we got Romano Prodi here who is a classic European politician he’s done everything he’s run Italy and is been a big hitter in the European Parliament sort of thing so he would certainly be on the sort of committee which would decide whether your sovereign country was bankrupt or not and be on the sort of controlling end of then taking over your country to run it for you as you obviously they have decided not run it properly saw on March 10, 2010 Romano Prodi said the worst of the Greece Greece’s financial crisis is over and other European nations won’t follow in its path the Greece the problem is completely over said Prodi who was also Italian Prime Minister I don’t see any other case now in Europe I don’t think there is any reason to think the Euro system will collapse or will suffer greatly because of Greece that a beauty isn’t it the Greece the problem is completely over and that was two years ago the this is the trouble with arm trying to bridge the future it’s probably best that Euro countries representatives try badly to predict your future than passing the buck over to some other people to try and predict your future because that’s what bankrupt years as net it saying I don’t think in the future that you will be able to pay your debts and whatever and then they said will do it better will take over now I don’t think there will be a move in that direction politicians when it comes down to it will try and checked their own power base and probably quite rightly to pay right finish with this Portugal trying to do what they can and Portugal but really the tide is just slowly coming in on Portugal and it’s getting swamped people aren’t talking about except Matt Spain and Italy and Greece but slowly by slowly pulp Portugal is getting swamped but it sovereign government is doing what it can Portugal has resorted to cutting four of its 14 annual public holidays in an attempt to trim its budget deficit and boost economic output as speculation grows that it will require a second bailout had to be done so they’ve decided that everyone should work four days more in the year and that’s the think the percentage it it’s something they are trying and we’ll just have to see how it everyone succeeds with the trying that they’re doing right that’s it from me Goodbar
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