Νέα χρεοκοπία αμερικανικής τράπεζας
Η Silver Falls Bank έδρευε στο Όρεγκον
Η ομοσπονδιακή ρυθμιστική αρχή του χρηματοοικονομικού τομέα στις ΗΠΑ, FDIC, ανακοίνωσε το κλείσιμο μιας τοπικής τράπεζας στην πολιτεία Όρεγκον, της δέκατης τέταρτης που χρεοκοπεί από την αρχή του έτους, καθώς το τραπεζικό σύστημα διέρχεται περίοδο ισχυρών πιέσεων.
Η Silver Falls Bank, που εδρεύει στο Σίλβερτον, έκλεισε το απόγευμα της Παρασκευής, ανέφερε ανακοινωθέν του FDIC. Η τράπεζα είχε πόρους 131,4 εκατ. δολαρίων και ενεργούς καταθετικούς λογαριασμούς ύψους 116,3 εκατ. δολαρίων.
Η αρχή συμφώνησε με άλλη τράπεζα του Όρεγκον, την Citizens Bank του Corvallis, να εγγυηθεί τις καταθέσεις. Το κόστος της χρεοκοπίας για την αρχή υπολογίζεται ότι φθάνει τα 50 εκατ. δολάρια.
SKY.GR
Economy | Business | Social | Leaked | Opinions
Sunday, February 22, 2009
Obama Plans to Reduce Budget Deficit to $533 Billion by 2013
Obama Plans to Reduce Budget Deficit to $533 Billion by 2013
Feb. 21 (Bloomberg) -- President Barack Obama plans to cut the U.S. budget deficit to $533 billion by the end of his first term by increasing taxes on the wealthy and cutting spending for the war in Iraq, according to an administration official.
Obama wants to reduce the deficit because he’s concerned that over time, federal borrowing will make it harder for the U.S. economy to grow and create jobs, said the official, speaking on the condition of anonymity. The deficit Obama inherited on taking office last month was $1.3 trillion. The administration next week is to release an overview of its budget proposal for the 2010 fiscal year, which begins Oct. 1.
“Next week sets the table for the year,” and the president’s four-year term, Kenneth Baer, spokesman for the White House budget office, said yesterday, referring to the budget plan that will be released on Feb. 26.
To increase revenue, Obama will propose taxing the investment income of hedge-fund and private-equity partners at ordinary tax rates, which are now as high as 35 percent and may rise to 39.6 percent under the administration’s plan, the New York Times reported today. They are currently taxed at the capital-gains rate of as much as 15 percent.
Obama promised during the campaign that he would slash federal programs that weren’t working. “The president has said he can’t kick the can down the road anymore,” Baer said.
The $1.3 trillion deficit Obama inherited equals 9.2 percent of gross domestic product, said the administration official. The administration’s budget proposal cuts the deficit to 3 percent of GDP by 2013, at the end of Obama’s first term.
Iraq War
Most of the savings will be realized from winding down the war in Iraq as well as increased revenue from Americans making more than $250,000 a year, said the official. The Times said Obama will propose letting President George W. Bush’s tax cuts for the wealthy lapse in 2010.
Earlier today, Obama talked about the importance of reining in the ballooning federal deficit in his weekly address. He will hold a so-called fiscal-responsibility summit at the White House on Feb. 23, with about 130 people invited to attend, including about 50 members of the House and Senate from both parties, according to Baer.
Obama said the Treasury Department will begin ordering employers today to cut taxes taken from workers’ paychecks as part of his effort to pull the economy out of a recession.
The president said a “typical” family will start getting at least an extra $65 a month by April 1 as a result of the $787 billion stimulus package he signed into law this week. He said the measure is only a “first step.”
The president has also pledged $275 billion to help struggling homeowners avoid foreclosure and plans to announce measures to stabilize banks. Companies from General Motors Corp. to Alcoa Inc. are slashing jobs and cutting production as the recession threatens to become the worst slump in the postwar era.
BLOOMBERG
Feb. 21 (Bloomberg) -- President Barack Obama plans to cut the U.S. budget deficit to $533 billion by the end of his first term by increasing taxes on the wealthy and cutting spending for the war in Iraq, according to an administration official.
Obama wants to reduce the deficit because he’s concerned that over time, federal borrowing will make it harder for the U.S. economy to grow and create jobs, said the official, speaking on the condition of anonymity. The deficit Obama inherited on taking office last month was $1.3 trillion. The administration next week is to release an overview of its budget proposal for the 2010 fiscal year, which begins Oct. 1.
“Next week sets the table for the year,” and the president’s four-year term, Kenneth Baer, spokesman for the White House budget office, said yesterday, referring to the budget plan that will be released on Feb. 26.
To increase revenue, Obama will propose taxing the investment income of hedge-fund and private-equity partners at ordinary tax rates, which are now as high as 35 percent and may rise to 39.6 percent under the administration’s plan, the New York Times reported today. They are currently taxed at the capital-gains rate of as much as 15 percent.
Obama promised during the campaign that he would slash federal programs that weren’t working. “The president has said he can’t kick the can down the road anymore,” Baer said.
The $1.3 trillion deficit Obama inherited equals 9.2 percent of gross domestic product, said the administration official. The administration’s budget proposal cuts the deficit to 3 percent of GDP by 2013, at the end of Obama’s first term.
Iraq War
Most of the savings will be realized from winding down the war in Iraq as well as increased revenue from Americans making more than $250,000 a year, said the official. The Times said Obama will propose letting President George W. Bush’s tax cuts for the wealthy lapse in 2010.
Earlier today, Obama talked about the importance of reining in the ballooning federal deficit in his weekly address. He will hold a so-called fiscal-responsibility summit at the White House on Feb. 23, with about 130 people invited to attend, including about 50 members of the House and Senate from both parties, according to Baer.
Obama said the Treasury Department will begin ordering employers today to cut taxes taken from workers’ paychecks as part of his effort to pull the economy out of a recession.
The president said a “typical” family will start getting at least an extra $65 a month by April 1 as a result of the $787 billion stimulus package he signed into law this week. He said the measure is only a “first step.”
The president has also pledged $275 billion to help struggling homeowners avoid foreclosure and plans to announce measures to stabilize banks. Companies from General Motors Corp. to Alcoa Inc. are slashing jobs and cutting production as the recession threatens to become the worst slump in the postwar era.
BLOOMBERG
New Home Sales, Durable Goods Probably Fell as Economy Worsened
New Home Sales, Durable Goods Probably Fell as Economy Worsened
Feb. 22 (Bloomberg) -- Sales of new homes in the U.S. probably plunged to a record low in January while durable goods orders dropped for a sixth month, economists said before reports this week.
A Feb. 26 Commerce Department report will show new-home sales fell to 324,000 on an annual basis, according to the median estimate of economists surveyed by Bloomberg News. The same day, the department may report demand for goods meant to last several years dropped 2.5 percent, economists said.
A surge in foreclosures and plummeting demand for homes has depressed prices, sending the S&P/Case-Shiller 20-city home price index down 18.3 percent in December from a year earlier, according to a separate Bloomberg survey. Meanwhile, shrinking household worth pushed auto sales in January to the lowest level in more than 26 years, and factories are scaling back production as demand from consumers and businesses erodes.
“Housing is going to be declining for a good, long time yet,” said Derek Holt, an economist at Scotia Capital Inc. in Toronto. “This is not going to be a market where builders put new supply into the market this year because of the sharp overhang.”
At the December sales pace of 331,000 new homes, it would take a record 12.9 months to whittle down the number of houses builders are holding, more than twice the five-to-six months supply the National Association of Realtors has said is consistent with a stable market.
U.S. home foreclosures rose 17.8 percent in January from a year earlier, according to a report this month from RealtyTrac Inc.
Stimulus Plan
President Barack Obama last week said his administration will use $75 billion to bring down mortgage rates and encourage loan modifications to keep Americans in their homes. He also signed into law a $787 billion stimulus package that includes tax breaks and increases in government spending designed to resuscitate the economy.
Excluding bookings for transportation equipment such as cars, trucks and airplanes, durable goods orders probably fell 2.2 percent in January, according to economists surveyed.
“The decline in global demand has fundamentally kicked out the final leg of support for the economy,” said Joseph Brusuelas, director of Moody’s Economy.com, referring to domestic and overseas demand for manufactured goods.
Revised GDP Drop
The U.S. economy probably contracted at a 5.4 percent annual pace in the fourth quarter, weaker than previously estimated and the worst slump in 26 years, according to the median forecast in a Bloomberg survey. Commerce is scheduled to release its first revised report on Feb. 27, after saying on Jan. 30 that the economy shrank at a 3.8 percent pace.
Economic weakness and 13 consecutive months of job losses have hurt Americans’ outlook. Economists say the Conference Board will report on Feb. 24 that its consumer confidence index fell this month to 35, a record low. The Reuters/University of Michigan final index of consumer sentiment, scheduled to be released on Feb. 27, probably fell to 56, according to the Bloomberg survey.
U.S. sales of cars and light trucks plunged to a 9.6 million annual rate in January, according to industry data. General Motors Corp. said Feb. 3 it will reduce North American first-quarter production 57 percent amid flagging demand.
‘Unusually Uncertain’
Other industries have seen a pullback in sales as consumers and companies try to save money. Deere & Co., the world’s largest maker of farm equipment, said Feb. 18 that first-quarter profit fell 45 percent and cut its full-year earnings forecast.
“Ongoing higher material costs, the deepening global recession, and volatile foreign exchange rates have put downward pressure on our financial results,” Deere Chief Executive Officer Robert Lane said in a statement, adding the “unusually uncertain” outlook led him to delay a quarterly forecast.
Still, there are signs the housing market is bottoming out, which many economists say is the necessary precondition for economic recovery. While new-home sales are forecast to drop for a sixth straight month, the estimate for January would represent the smallest decline since a gain in July.
Also, sales of existing homes, scheduled to be reported by the National Association of Realtors on Feb. 25, probably increased to a 4.8 million annual rate in January, according to the survey median. Foreclosure-driven declines in prices have given resales a lift since reaching a record-low 4.45 million pace in November.
BLOOMBERG
Feb. 22 (Bloomberg) -- Sales of new homes in the U.S. probably plunged to a record low in January while durable goods orders dropped for a sixth month, economists said before reports this week.
A Feb. 26 Commerce Department report will show new-home sales fell to 324,000 on an annual basis, according to the median estimate of economists surveyed by Bloomberg News. The same day, the department may report demand for goods meant to last several years dropped 2.5 percent, economists said.
A surge in foreclosures and plummeting demand for homes has depressed prices, sending the S&P/Case-Shiller 20-city home price index down 18.3 percent in December from a year earlier, according to a separate Bloomberg survey. Meanwhile, shrinking household worth pushed auto sales in January to the lowest level in more than 26 years, and factories are scaling back production as demand from consumers and businesses erodes.
“Housing is going to be declining for a good, long time yet,” said Derek Holt, an economist at Scotia Capital Inc. in Toronto. “This is not going to be a market where builders put new supply into the market this year because of the sharp overhang.”
At the December sales pace of 331,000 new homes, it would take a record 12.9 months to whittle down the number of houses builders are holding, more than twice the five-to-six months supply the National Association of Realtors has said is consistent with a stable market.
U.S. home foreclosures rose 17.8 percent in January from a year earlier, according to a report this month from RealtyTrac Inc.
Stimulus Plan
President Barack Obama last week said his administration will use $75 billion to bring down mortgage rates and encourage loan modifications to keep Americans in their homes. He also signed into law a $787 billion stimulus package that includes tax breaks and increases in government spending designed to resuscitate the economy.
Excluding bookings for transportation equipment such as cars, trucks and airplanes, durable goods orders probably fell 2.2 percent in January, according to economists surveyed.
“The decline in global demand has fundamentally kicked out the final leg of support for the economy,” said Joseph Brusuelas, director of Moody’s Economy.com, referring to domestic and overseas demand for manufactured goods.
Revised GDP Drop
The U.S. economy probably contracted at a 5.4 percent annual pace in the fourth quarter, weaker than previously estimated and the worst slump in 26 years, according to the median forecast in a Bloomberg survey. Commerce is scheduled to release its first revised report on Feb. 27, after saying on Jan. 30 that the economy shrank at a 3.8 percent pace.
Economic weakness and 13 consecutive months of job losses have hurt Americans’ outlook. Economists say the Conference Board will report on Feb. 24 that its consumer confidence index fell this month to 35, a record low. The Reuters/University of Michigan final index of consumer sentiment, scheduled to be released on Feb. 27, probably fell to 56, according to the Bloomberg survey.
U.S. sales of cars and light trucks plunged to a 9.6 million annual rate in January, according to industry data. General Motors Corp. said Feb. 3 it will reduce North American first-quarter production 57 percent amid flagging demand.
‘Unusually Uncertain’
Other industries have seen a pullback in sales as consumers and companies try to save money. Deere & Co., the world’s largest maker of farm equipment, said Feb. 18 that first-quarter profit fell 45 percent and cut its full-year earnings forecast.
“Ongoing higher material costs, the deepening global recession, and volatile foreign exchange rates have put downward pressure on our financial results,” Deere Chief Executive Officer Robert Lane said in a statement, adding the “unusually uncertain” outlook led him to delay a quarterly forecast.
Still, there are signs the housing market is bottoming out, which many economists say is the necessary precondition for economic recovery. While new-home sales are forecast to drop for a sixth straight month, the estimate for January would represent the smallest decline since a gain in July.
Also, sales of existing homes, scheduled to be reported by the National Association of Realtors on Feb. 25, probably increased to a 4.8 million annual rate in January, according to the survey median. Foreclosure-driven declines in prices have given resales a lift since reaching a record-low 4.45 million pace in November.
BLOOMBERG
Περικοπές φόρων στο 95% των Αμερικανών
Περικοπές φόρων στο 95% των Αμερικανών
Ο αμερικανός πρόεδρος Μπαράκ Ομπάκα έδωσε σήμερα εντολή στο υπουργείο Οικονομικών να επιβάλει περικοπές φόρων στο 95% των Αμερικανών, εκπληρώνοντας έτσι μια προεκλογική του υπόσχεση που ελπίζει ότι θα βοηθήσει την οικονομία να βγει από την ύφεση.
Οι περικοπές φόρων είναι μέρος του ύψους 787 δισεκατομμυρίων δολαρίων σχεδίου για την οικονομική ανάκαμψη που υιοθετήθηκε από το ελεγχόμενο από τους Δημοκρατικούς Κογκρέσο, παρά την αντίθεση των Ρεπουμπλικάνων.
"Έχω την ευχαρίστηση να ανακοινώσω ότι σήμερα το πρωί το υπουργείο Οικονομικών άρχισε να δίνει οδηγίες στους υπαλλήλους του για να μειώνουν το ποσό του φόρου που παρακρατείται από τους μισθούς, κάτι που σημαίνει ότι έως την 1η Απριλίου μια τυπική οικογένεια θα αρχίσει να φέρνει στο σπίτι τουλάχιστον 65 δολάρια επιπλέον το μήνα", τόνισε ο Ομπάμα στο εβδομαδιαίο ραδιοφωνικό του διάγγελμα.
"Ποτέ άλλοτε στην ιστορία μια μείωση φόρου δεν επιβλήθηκε τόσο γρήγορα και σε τόσο πολλούς σκληρά εργαζόμενους Αμερικανούς", σημείωσε ο Μπαράκ Ομπάμα.
NAFTEMPORIKI
Ο αμερικανός πρόεδρος Μπαράκ Ομπάκα έδωσε σήμερα εντολή στο υπουργείο Οικονομικών να επιβάλει περικοπές φόρων στο 95% των Αμερικανών, εκπληρώνοντας έτσι μια προεκλογική του υπόσχεση που ελπίζει ότι θα βοηθήσει την οικονομία να βγει από την ύφεση.
Οι περικοπές φόρων είναι μέρος του ύψους 787 δισεκατομμυρίων δολαρίων σχεδίου για την οικονομική ανάκαμψη που υιοθετήθηκε από το ελεγχόμενο από τους Δημοκρατικούς Κογκρέσο, παρά την αντίθεση των Ρεπουμπλικάνων.
"Έχω την ευχαρίστηση να ανακοινώσω ότι σήμερα το πρωί το υπουργείο Οικονομικών άρχισε να δίνει οδηγίες στους υπαλλήλους του για να μειώνουν το ποσό του φόρου που παρακρατείται από τους μισθούς, κάτι που σημαίνει ότι έως την 1η Απριλίου μια τυπική οικογένεια θα αρχίσει να φέρνει στο σπίτι τουλάχιστον 65 δολάρια επιπλέον το μήνα", τόνισε ο Ομπάμα στο εβδομαδιαίο ραδιοφωνικό του διάγγελμα.
"Ποτέ άλλοτε στην ιστορία μια μείωση φόρου δεν επιβλήθηκε τόσο γρήγορα και σε τόσο πολλούς σκληρά εργαζόμενους Αμερικανούς", σημείωσε ο Μπαράκ Ομπάμα.
NAFTEMPORIKI
Subscribe to:
Posts (Atom)