Finland

Tyler Durden's picture

No Red Futures On Black Friday





A hungover America slowly wakes up from a day of society-mandated consumption and purchasing excess to engage in even more Fed-mandated excess in the equity markets. The only difference is that while the "90%" was engaged in the former and depleting their equity, and savings, accounts in the process, far less than 10% will be doing the latter. Overnight attention was drawn to the rapidly escalating territorial dispute between China and Japan, now in the air, Bitcoin's brief surge above the price of an ounce of gold, and the ejection of the Holland from the AAA Eurozone club (where only Germany and Finland remain), following an S&P downgrade of the Netherlands from AAA to AA+, which however had been largely priced in long ago (and was coupled with an upgrade of Spain from negative to stable outlook, as well as an upgrade of Spain from CCC+ to B-). Europe surprised pleasantly on both the inflation (better than expected) and unemployment rate (dropped from an all time high of 12.2% to 12.1%), even if youth unemployment rose to fresh record highs.

 


Tyler Durden's picture

Guest Post: Understanding China’s Arctic Policies





Within the last seven years 11 countries (Poland (2006), Russia (2008), Finland (2009), France (2009), Sweden (2010), Iceland (2011), Spain (2011), Denmark (2012), Singapore (2012), Canada (2012) and Japan (2013) have realized the need to appoint their own Arctic ambassadors. These ambassadors are used for analysis and situational assessments in the emerging “grand Arctic game,” with the ultimate aim of exploiting mineral resources and using the Arctic route for shipping cargo from Europe to Asia. At present, China’s Arctic initiatives suggest that Beijing is eager to camouflage its true interests in the region with environmental monitoring, Arctic life protection and concerns about indigenous peoples. At the same time, Beijing is dropping hints that China is not satisfied with the current balance of power in the Arctic region.

 


Tyler Durden's picture

The American "Rags To Riches" Dream Is Now History For Most





It would appear that the Horatio Alger myth - that hard work and pluck will lift a person from dire circumstances to enviable success - is not living up to expectations for Americans. As WSJ's Lauren Weber notes, 40% of Americans think it’s fairly common for someone to start off poor, work hard and eventually rise to the top of the economic heap but a new Pew study shows that in reality, only 4% of Americans travel the rags-to-riches path. Unfortunately, they discovered considerable “stickiness” at both ends of the income spectrum and that Americans attached to the rags-to-riches myth might be disappointed to know that other countries show greater mobility among have-nots - "this is what we call the 'parental penalty,' and it's really high in the U.S. - If you’re born in the bottom here, your likelihood of sticking in the bottom is much higher."

 


Tyler Durden's picture

Guest Post: Finland's Gold





On Wednesday Finland gave in to public pressure and revealed where she stores her gold reserves. The statement followed a press release by the Bank of Sweden on similar lines released on Monday. All was 'normal' until the head of communications added some more color on what exactly the Finnish central bank does with its gold..."half of the gold has been within investment activity over the years. Gold has been invested among other things in deposits similar to money market deposits and using gold interest rate swaps. Gold investment activity is common for central banks." The evidence is mounting that Western central banks through the Bank of England have been feeding monetary gold into the market through leasing operations. This explains in part how the voracious appetite for gold by China, India and South-East Asia is being satisfied, without the gold price rising to reflect this demand.

 


Tyler Durden's picture

It's Official: American Adults Are Dumber Than Average





The study is called the Program for the International Assessment of Adult Competencies and it tested 166,000 people aged 16 to 65 in more than 20 countries.  It found that in math, reading and problem solving, American adults scored below the international average. We can’t say this is surprising, after all, the public allowed the big banks that destroyed the economy to gift themselves trillions in the aftermath of the financial crisis with barely a peep in response. You don’t have to be a problem solving genius to figure that one out.

 


testosteronepit's picture

The End Of Nuclear Energy In Japan?





The zero-nuclear option has a hugely popular and powerful backer in Shinzo Abe’s own party: former Prime Minister Koizumi

 


Pivotfarm's picture

Human Capital: Switzerland or Yemen?





What would you say to working in either Switzerland or Yemen? The choice wouldn’t take too long to ponder over I guess when it comes to providing a healthy environment in which factors that would lead to long-term economic success that might be taken into consideration.

 


Tyler Durden's picture

Mapping The Collapse Of European Democracy





Democracy has regressed in 15 out of the 17 euro-area countries since 2008, according to the Economist Intelligence Unit’s democracy index, as economic policy was increasingly influenced by the ECB, the EU and the IMF, instead of elected politicians - something Nigel Farage has been vociferously concerned about.

 


Pivotfarm's picture

EU PMI Up but Economy Still Fragile





The Germans will be getting out the beer and drinking a double dose of the amber nectar not only because MuttiMerkel as she is known (otherwise known as ‘Mother’ Angela Merkel) was reelected on Sunday 22nd September, but also because new reports issued today show that the Eurozone is doing better than expected.

 


Tyler Durden's picture

These False Flags Were Used To Start A War





Just in case one's history textbook had a few extra pages ripped out, this may be a good time to recall just how far one's government is willing to go to start a war under false pretenses.

 


Pivotfarm's picture

Sovereign-Debt Risk – Best and Worst





Sovereign debt is the bonds that are issued by national governments in foreign currencies with the intent to finance a country’s growth. The risk involved is determined by whether that country is a developed or a developing country, whether that country has a stable government or not and the sovereign-credit ratings that are attributed by agencies to that country’s economy.

 


Tyler Durden's picture

Eric Sprott On Central Banks, Bullion Banks and the Physical Gold Market Conundrum





The recent decline in gold prices and the drain from physical ETFs have been interpreted by the media as signaling the end of the gold bull market. However, our analysis of the supply and demand dynamics underlying the gold market does not support this thesis. In our view, the bullion banks’ fractional gold deposit system is testing its limits. Too much paper gold exists for the amount of physical gold available. Demand from emerging markets, who do not settle for paper gold, has perturbed the status quo. Thus, our recommendation to investors is the following: empty unallocated gold accounts and redeem your gold in physical form (while you still can).

 


Tyler Durden's picture

EFSF Downgraded To AA+, Or French Fitch Flunks EFSF Following France Flub





Prompted by their FrAAAnce downgrade to AA+, French-owned Fitch has downgraded Europe's last best promise/hope - the EFSF - from AAA to AA+... but the crisis is still behind us - we are assure by such truth-sayers as Juncker, Barroso, and Merkel (pre-elections). The key sentence is "Following the downgrade of France's IDR, the EFSF's long-term debt issues are not fully covered by 'AAA' guarantees and over-guarantees and, for debt issued before October 2011, by the cash reserve." So that's good then... Don't worry though since "Fitch assumes there will be progress in deepening fiscal and financial integration at the eurozone level in line with commitments by euro area policy makers"

 


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