Posts Tagged ‘global economy’

Have you heard, Europe has debt problems?

Thursday, June 21st, 2012

 The subject of Europe’s debt crisis just won’t go away. Since the polarization of Greece’s problems a couple of years ago the subject, and problems, have unfortunately picked up momentum. Headlines in the mainstream media have went from Greece to Portugal to Ireland to Spain to France to the United Kingdom and so on. The 17-member Eurozone has not exactly worked like a well oil machined since its inception in 1999. Europe is finally feeling the pain of an excessive entitlement environment. They are learning across the pond that you can’t take 3 months off a year, retire at age 52 and receive a very generous pension from the government and stay solvent.

I was on a conference call with some market strategists from major financial institutions a couple of days ago, and the general concensus on Europe seemed to be:

Greece will leave the Eurozone sometime in 2013

The European Central Bank has a lot of work ahead due to the debt it is carrying on its books

The Euro currency probably won’t survive in its current state

There will be some investment opportunities because of the uncertainty

Of course, here in the states, investors will also have to deal with election year follies, the “fiscal cliff”the Congressional Budget Office has identified, high unemployment, etc. If we are fortunate enough to gain some clarity and confidence regarding these issues, I think better and more rewarding days lie ahead.

By the way, none of our portfolio models or strategies depend on whether Greece gets its act together or not. At Murray Financial Group, our authentic leadership and knowledge results in conservative wealth strategies and that’s what matters to you and your family.

Is our broken global financial system destroying the middle class? This week on Your Financial Editor.

Wednesday, June 20th, 2012

How can a broken international financial system affect ordinary people around the world, including right here in America?  Tune in and find out as I talk with this week’s guest, Michael Casey, author of The Unfair Trade: How Our Broken Global Financial System Destroys The Middle Class.

Listen from anywhere by logging onto WFMD and clicking the listen live button – Saturday morning at 8:00

About this week’s guest:

MICHAEL CASEY is a managing editor and columnist covering global financial markets at Dow Jones and the Wall Street Journal. In a globe-trotting career of more than twenty years he has lived and worked as a journalist in Australia, Thailand, Indonesia, Argentina and the United States. He is a regular commentator and co-host on the Wall Street Journal’s News Hub and a frequent guest on Fox Business. The Unfair Trade is Casey’s second book. His first, Che’s Afterlife, was published in 2009 to widespread acclaim. He lives in Pelham, NY with his wife and two daughters.

Are we headed for global financial warfare? This week on Your Financial Editor.

Friday, March 25th, 2011

 If you are interested in the future of the global economy, America’s position in the world, or how and where to invest money today, join Chris and Mr. Eric Weiner, author of The Shadow Market, this week on Your Financial Editor.  Their conversation will be a highly informative and genuinely startling one about often secretive and ever-shifting movement of  money and geopolitical power!

Be sure to read Mr. Weiner’s story in yesterday’s LA Times about Libya and the issues raised by oil-rich state capitalist countries.

Join us this Saturday morning at 8am on AM 930 WFMD, or listen from your pc by logging onto WFMD’s website and click the listen live button.

About this week’s guest:

Eric J. Weiner has covered business and economic issues for fifteen years as a writer and editor.  His critically acclaimed first book, What Goes Up: The Uncensored History of Modern Wall Street as told by the Bankers, Brokers, CEOs, and Scoundrels Who Made It Happen, was published in September 2005 by Little, Brown and Company, and was selected as one the year’s best books by Barron’s magazine and the of the year’s “most Enriching Reads” by Kiplinger’s.  He is a former columnist and reporter for Dow Jones Newswires, and he has written for The Wall Street Journal, Los Angeles Times, The Boston Globe, The Village Voice, and countless other major publications.   He is also a contributor to the news and opinion website The Huffington Post.  He lives in Barrington, Massachusetts with his wife, Paige and their son, Jake.

The Chinese Dynasty? Not Exactly…

Friday, February 18th, 2011

I saw an article this week in USA Today.  It was based on a recent Gallup poll asking the following question:  Who is the world’s leading economic power, America or China?  The poll was conducted earlier this month.  The findings:  52% of Americans said that China was the leading economy and 32% said the United States was.  WHAT?!  Are you serious?  Come on people, this question is a first rounder on “Are You Smarter Than a 5th Grader?”

 If you do your homework, you’ll see that the U.S. is definitely still the lead dog in the global economy.  Last year our GDP (the total of all goods and services we produce) totalled $14.6 trillion versus China’s $5.75 trillion.

 Will China catch and eventually pass the U.S.’s GDP number?  Sure, they will.  This will probably take place between 2020 & 2027.  Just this week, China passed Japan to become the world’s second largest economy in the world.  However, what the media (financial journalists in particular), aren’t bringing up is the fact that China’s GDP per-capita, which is the only true measure of a nation’s prosperity will still only be a quarter to a third of the United States.

 Of course, the major problem for China is its fake capitalist regime.  The rulers are repressive and cruel.  The economy isn’t free and neither are the citizens.  I believe eventually India will surpass China and emerge as the true number two in the world.  My judgement is based on its freedom, democracy, and rule of law.  India is much farther along than China in these matters.

 That brings me to a question for all Americans.  What made America great?

Do you realize that no other country in the history of the world has operated off of one document?  The document, of course, is the Constitution.  No other country can come close.  Now, why has it worked so well?  The answers lie in the moral fabric of our founding fathers.  The link between the Constitution and the Bible has proved to be the most solid foundation that a country and/or government has been built on.

 Our current problem (for the last 30 years, really), is the lack of truth when it comes to our nation’s history and our founding fathers.  There are many, in the media and behind the scenes, who are determined to bring a wrecking ball to our great country’s foundation.

 This will be our undoing if we allow it to happen.  We must teach our children and grandchildren the truth.