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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: THE ANT who wrote (95398)	10/10/2012 1:36:16 PM
From: Cogito Ergo Sum	Respond to of 219507

Maybe TJ knows full well what became of William Wallace :O) world has too many leaders.. in the end leads to no good... US lead the world out of the darkness of WWII and spawned the MI complex warned about by Eisenhower Jack too much posting for this week already

To: THE ANT who wrote (95398)	10/10/2012 3:42:48 PM
From: average joe	Read Replies (1) \| Respond to of 219507

Ten score years ago, defeat the kingly foe A wondrous dream came into being Tame the trackless waste, no virgin land left chaste All shining eyes, but never seeing Beneath the noble birth Between the proudest words Behind the beauty, cracks appear Once, with heads held high They sang out to the sky Why do their shadows bow in fear? Watch the cities rise Another ship arrives Earths melting pot and ever growing Fantastic dreams come true Inventing something new The greatest minds, and never knowing... The guns replace the plow, facades are tarnished now The principles have been betrayed The dreams gone stale, but still, let hope prevail History's debt wont be repaid

To: THE ANT who wrote (95398)	10/11/2012 3:06:25 AM
From: elmatador	Read Replies (1) \| Respond to of 219507

Brazil cuts interest rates to record low By Joe Leahy in São Paulo Brazil’s central bank has cut interest rates by 25 basis points to an all-time low in a decision underlining global concerns about weak economic growth. The central bank on Wednesday lowered its benchmark Selic rate to 7.25 per cent, with economists saying rates are now close to the bottom after being slashed nearly in half in 13 months. “We are nearing the end of the cycle,” said David Beker, economist with Bank of America Merrill Lynch. The interest rate decision follows a warning from the International Monetary Fund in its latest review that the world economy is doing worse than expected, with emerging markets a major part of the slowdown. Brazil’s central bank was one of the first from a large emerging economy to react with alarm to the deepening of the eurozone crisis last year. It took markets by surprise at the end of August 2011 by abruptly reversing a tightening cycle that had taken interest rates as high as 12.5 per cent, citing deteriorating global conditions and a contraction in Brazil’s industrial sector. Economists believe that a sharp slowdown in Brazil’s economy is partly due to domestic factors, with labour costs outstripping productivity, particularly among manufacturers. “They are concerned with domestic activity and the risk that activity is not going to be moving higher as we go into 2013,” Marcelo Salomon, economist at Barclays, said of the central bank’s decision. The central bank said that the decision to cut rates by 25 basis points was not unanimous, with five members of its monetary policy committee voting in favour of a cut and three against. The bank said the cut was made in consideration of “the risks to inflation, the recovery in domestic economic activity and the complexity enveloping the international environment”. The ambiguous language left open the possibility of another minor cut next month. Brazil has employed a mix of interest rate cuts and intervention in carefully selected industrial sectors with protectionist measures and tax cuts to try to halt the downward slide of the economy. Economic growth slowed from 7.5 per cent in 2010 to 2.7 per cent last year and this year is expected to sink as low as 1.5 per cent. Economists are predicting a rebound to about 4 per cent next year but the government is expected to take no chances, with further infrastructure investment measures planned. Inflation, always a concern in Brazil, has re-emerged in recent weeks. After falling to as low as 4.9 per cent in June, the 12-month inflation rate bounced back to 5.28 per cent by September, pushing towards the upper end of policy-makers’ target of 4.5 per cent plus or minus 2 percentage points. The economy is revealing some signs of renewed growth, with the central bank’s forward indicator for gross domestic product showing an uptick in recent months. But economists say industrial production is still uncertain, with auto sales declining 31 per cent in September compared with August when they benefitted from a one-off boost from a government tax cut. “We see a relevant risk of lower auto production and sales causing a slowdown in fourth quarter GDP,” investment bank Itaú BBA said. The challenge for the government is to translate the steep fall in interest rates wrought by the central bank into better lending rates. President Dilma Rousseff has urged banks to cut interest rates, which in Brazil are among the highest in the world, but has met resistance from financial institutions, which argue such decisions should be left to the market. Copyright The Financial Times Limited 2012. You may share using our article tools. Please don't cut articles from FT.com and redistribute by email or post to the web.