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| Topic: The Ukraine Economic Crisis | |
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Edited by
alnewman
on
Fri 03/07/14 04:33 PM
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I find this uterly hilarious, maybe justice will be served but I feel for the Ukrainian people.
The Ukraine economy is a basket case-��one of the weakest in the world. That was true before the events of February 20, 2014 and the collapse of the Yanukovich regime. It is increasingly true since, and will continue to deteriorate even more rapidly in the weeks to come. What are the dimensions of the current economic crisis in the Ukraine? And its origins in the preceding decade? From 2000 to the 'Orange Revolution' of 2004 Ukrainian per capita GDP actually rose compared to the GDP of its then CIS neighbors, from 61% to 68%. From 2004 forward, however, it declined precipitously, from the 68% to a low of 57% in 2013. In 2013 the Ukraine economy was in recession. That recession is about to accelerate in 2014, with some reports predicting the Ukrainian economy will experience a 5%-10% drop in GDP terms in the coming year. That's not a recession. That's a 'Greece-like', bonafide depression. ... The current collapse of the currency is exacerbated by the economy'��s accelerating loss of foreign currency reserves. Foreign exchange is required to make payments on debts (bonds) to foreign investors. No payments mean default. Default means no further loans, production cutbacks and more job loss. Loss of foreign exchange reserves also means no money to finance imports of critical production goods and consumption goods. And foreign exchange (currency) is disappearing rapidly in the Ukraine. First, in the form of capital flight as Ukrainian consumers, investors and businesses convert the national currency to foreign exchange and send it out of the country to protect their investment. Secondly, in the form of the Ukrainian central bank, which uses the foreign exchange to prop up the Ukrainian currency from further collapse. It is estimated that the Ukraine had about $20 billion in foreign currency exchange at the start of the 2014 calendar year. As of March 1, western estimates are it now has about $12 billion. The further depletion of reserves will mean an even faster collapse of its currency, even more rapid capital flight from the country, and a good part of the economy coming to a virtual halt. Recent estimates are currency reserves are depleting at around $4 billion a week. Should the worst case scenario materialize, and defaults begin on debt payments to western bondholders and lenders (who are heavily concentrated in Austrian and Italian banks) then a run on banks in the Ukraine are a real possibility and the risk of contagion to Europe via Austria-Italy becomes increasingly likely. ... The IMF has initially indicated it would provide $27 billion, but that would be doled out over 7 years in delivery. As in typical IMF deals, most of that $27 billion would go to cover payments to western bankers first, to ensure they're protected and covered. Little would be left to stimulate the Ukrainian economy or to relieve the average Ukrainian household. Moreover, the 'terms' of the IMF deal (as any IMF deal has shown) would prove disastrous to the real economy. Already IMF officials are making it clear the rescue package would be available only with the proviso that the Ukraine cut government spending and jobs, pensions, and especially the large subsidies now provided to Ukrainian families to offset the high gas and oil costs to households. So when is a loan not a loan, when it involves the IMF or World Bank. By the time the banks take their tremendous profits, about all that would remain is a huge pile of debt. That would be like buying a $120,000 Mercedes but all you get are the floor mats and the payment book. But this is only a few highlights, read the whole story... Past, Present and Future, The Ukraine Economic Crisis |
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I find this uterly hilarious, maybe justice will be served but I feel for the Ukrainian people. The Ukraine economy is a basket case-��one of the weakest in the world. That was true before the events of February 20, 2014 and the collapse of the Yanukovich regime. It is increasingly true since, and will continue to deteriorate even more rapidly in the weeks to come. What are the dimensions of the current economic crisis in the Ukraine? And its origins in the preceding decade? From 2000 to the 'Orange Revolution' of 2004 Ukrainian per capita GDP actually rose compared to the GDP of its then CIS neighbors, from 61% to 68%. From 2004 forward, however, it declined precipitously, from the 68% to a low of 57% in 2013. In 2013 the Ukraine economy was in recession. That recession is about to accelerate in 2014, with some reports predicting the Ukrainian economy will experience a 5%-10% drop in GDP terms in the coming year. That's not a recession. That's a 'Greece-like', bonafide depression. ... The current collapse of the currency is exacerbated by the economy'��s accelerating loss of foreign currency reserves. Foreign exchange is required to make payments on debts (bonds) to foreign investors. No payments mean default. Default means no further loans, production cutbacks and more job loss. Loss of foreign exchange reserves also means no money to finance imports of critical production goods and consumption goods. And foreign exchange (currency) is disappearing rapidly in the Ukraine. First, in the form of capital flight as Ukrainian consumers, investors and businesses convert the national currency to foreign exchange and send it out of the country to protect their investment. Secondly, in the form of the Ukrainian central bank, which uses the foreign exchange to prop up the Ukrainian currency from further collapse. It is estimated that the Ukraine had about $20 billion in foreign currency exchange at the start of the 2014 calendar year. As of March 1, western estimates are it now has about $12 billion. The further depletion of reserves will mean an even faster collapse of its currency, even more rapid capital flight from the country, and a good part of the economy coming to a virtual halt. Recent estimates are currency reserves are depleting at around $4 billion a week. Should the worst case scenario materialize, and defaults begin on debt payments to western bondholders and lenders (who are heavily concentrated in Austrian and Italian banks) then a run on banks in the Ukraine are a real possibility and the risk of contagion to Europe via Austria-Italy becomes increasingly likely. ... The IMF has initially indicated it would provide $27 billion, but that would be doled out over 7 years in delivery. As in typical IMF deals, most of that $27 billion would go to cover payments to western bankers first, to ensure they're protected and covered. Little would be left to stimulate the Ukrainian economy or to relieve the average Ukrainian household. Moreover, the 'terms' of the IMF deal (as any IMF deal has shown) would prove disastrous to the real economy. Already IMF officials are making it clear the rescue package would be available only with the proviso that the Ukraine cut government spending and jobs, pensions, and especially the large subsidies now provided to Ukrainian families to offset the high gas and oil costs to households. So when is a loan not a loan, when it involves the IMF or World Bank. By the time the banks take their tremendous profits, about all that would remain is a huge pile of debt. That would be like buying a $120,000 Mercedes but all you get are the floor mats and the payment book. But this is only a few highlights, read the whole story... Past, Present and Future, The Ukraine Economic Crisis all that was necessary was to spend a minute looking into the author of this article to realize that I dont need to waste another second reading some socialists take on economics.. keep copying from counterpunch and just maybe we will be convinced that your beloved Venezuela is the model for restoration of the liberty we've lost.. what a phucking joke.. |
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Edited by
alnewman
on
Fri 03/07/14 06:21 PM
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all that was necessary was to spend a minute looking into the author of this article to realize that I dont need to waste another second reading some socialists take on economics.. keep copying from counterpunch and just maybe we will be convinced that your beloved Venezuela is the model for restoration of the liberty we've lost.. what a phucking joke.. What else could one expect from those that get their rights from the Amendments. I am but thankful that I do not waste my time posting for those type individuals. But what I find truly amusing is the total idiocy of some people that will disparage something without actually offering any rebuttal of the subject matter. thankfully that isn't the case here, the subject was just a joke. Intensely intellectual. And what I would like to know from such a knowledgeable source, is where did this author go wrong? Where are the misstatements? What is not to love from any individual that can make this statement... "The Federal Reserve will have to be democratized and become an institution that functions as a 'public banking entity', not a private banking conduit. It will then provide low money cost loans to households, small businesses, students, and workers—instead of wealthy investors, bankers, and speculators." So thankfully there are some intelligent individuals on this forum so I am not wasting my time. As far as rights, if you don't like it, don't read it, simple enough. And I find this to be really amusing, need to look more into it... "Jack Rasmus serves as the Chairman of the Federal Reserve System in the Economy Branch of the Green Shadow Cabinet of the United States" |
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Edited by
Sojourning_Soul
on
Thu 03/13/14 09:18 AM
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The Ukraine, The War Party and the Pentagon's Swamp of Waste by David Stockman - March 11, 2014 Contrary to the bombast, jingoism, and shrill moralizing flowing from Washington and the mainstream media, America has no interest in the current spat between Putin and the mobs of Kiev. For several centuries the Crimea has been Russian; for even longer, the Ukraine has been a cauldron of ethnic and tribal conflict, rarely an organized, independent state, and always a meandering set of borders looking for a redrawn map. Surely Washington jests when it threatens to organize another feckless set of economic sanctions against a nation that's got the gas which Europe needs. The source of the current calamity-howling about Russia is the Warfare State - ��that is, the existence of vast machinery of military, diplomatic and economic maneuver that is ever on the prowl for missions and mandates and that can mobilize a massive propaganda campaign on the slightest excitement. <continue> http://davidstockmanscontracorner.com/2014/03/11/the-ukraine-the-war-party-and-the-pentagons-swamp-of-waste/ |
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I find this uterly hilarious, maybe justice will be served but I feel for the Ukrainian people. The Ukraine economy is a basket case-��one of the weakest in the world. That was true before the events of February 20, 2014 and the collapse of the Yanukovich regime. It is increasingly true since, and will continue to deteriorate even more rapidly in the weeks to come. What are the dimensions of the current economic crisis in the Ukraine? And its origins in the preceding decade? From 2000 to the 'Orange Revolution' of 2004 Ukrainian per capita GDP actually rose compared to the GDP of its then CIS neighbors, from 61% to 68%. From 2004 forward, however, it declined precipitously, from the 68% to a low of 57% in 2013. In 2013 the Ukraine economy was in recession. That recession is about to accelerate in 2014, with some reports predicting the Ukrainian economy will experience a 5%-10% drop in GDP terms in the coming year. That's not a recession. That's a 'Greece-like', bonafide depression. ... The current collapse of the currency is exacerbated by the economy'��s accelerating loss of foreign currency reserves. Foreign exchange is required to make payments on debts (bonds) to foreign investors. No payments mean default. Default means no further loans, production cutbacks and more job loss. Loss of foreign exchange reserves also means no money to finance imports of critical production goods and consumption goods. And foreign exchange (currency) is disappearing rapidly in the Ukraine. First, in the form of capital flight as Ukrainian consumers, investors and businesses convert the national currency to foreign exchange and send it out of the country to protect their investment. Secondly, in the form of the Ukrainian central bank, which uses the foreign exchange to prop up the Ukrainian currency from further collapse. It is estimated that the Ukraine had about $20 billion in foreign currency exchange at the start of the 2014 calendar year. As of March 1, western estimates are it now has about $12 billion. The further depletion of reserves will mean an even faster collapse of its currency, even more rapid capital flight from the country, and a good part of the economy coming to a virtual halt. Recent estimates are currency reserves are depleting at around $4 billion a week. Should the worst case scenario materialize, and defaults begin on debt payments to western bondholders and lenders (who are heavily concentrated in Austrian and Italian banks) then a run on banks in the Ukraine are a real possibility and the risk of contagion to Europe via Austria-Italy becomes increasingly likely. ... The IMF has initially indicated it would provide $27 billion, but that would be doled out over 7 years in delivery. As in typical IMF deals, most of that $27 billion would go to cover payments to western bankers first, to ensure they're protected and covered. Little would be left to stimulate the Ukrainian economy or to relieve the average Ukrainian household. Moreover, the 'terms' of the IMF deal (as any IMF deal has shown) would prove disastrous to the real economy. Already IMF officials are making it clear the rescue package would be available only with the proviso that the Ukraine cut government spending and jobs, pensions, and especially the large subsidies now provided to Ukrainian families to offset the high gas and oil costs to households. So when is a loan not a loan, when it involves the IMF or World Bank. By the time the banks take their tremendous profits, about all that would remain is a huge pile of debt. That would be like buying a $120,000 Mercedes but all you get are the floor mats and the payment book. But this is only a few highlights, read the whole story... Past, Present and Future, The Ukraine Economic Crisis Please tell me you don't get your Political Direction and "News" fro that Site! 
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Please tell me you don't get your Political Direction and "News" fro that Site!
I would say it would be impossible to tell you anything. But if you can not see truth in that article, it would be your critical thinking that should be called into question. I am very familiar with the prospects of the IMF and World Bank along with the Federal Reserve, the Bank of England and so many other "central" banks. And as for news, I leave no stone unturned including NBC and CNN. Where we differ is I can separate the wheat from the chaff. It really does become easy when you have an open mind and can weight all the angles by asking a single simple question, where is the money? |
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The Ukraine, The War Party and the Pentagon's Swamp of Waste by David Stockman - March 11, 2014 Contrary to the bombast, jingoism, and shrill moralizing flowing from Washington and the mainstream media, America has no interest in the current spat between Putin and the mobs of Kiev. For several centuries the Crimea has been Russian; for even longer, the Ukraine has been a cauldron of ethnic and tribal conflict, rarely an organized, independent state, and always a meandering set of borders looking for a redrawn map. Surely Washington jests when it threatens to organize another feckless set of economic sanctions against a nation that's got the gas which Europe needs. The source of the current calamity-howling about Russia is the Warfare State - that is, the existence of vast machinery of military, diplomatic and economic maneuver that is ever on the prowl for missions and mandates and that can mobilize a massive propaganda campaign on the slightest excitement. <continue> http://davidstockmanscontracorner.com/2014/03/11/the-ukraine-the-war-party-and-the-pentagons-swamp-of-waste/ Outstanding article, scary really if you stop to think about it, which most wont. But there was another article there that caught my eye that is scarier still: Housing Bubble 2.0: Here’s Why As I have been to multiple states lately looking at real estate, I can personally verify a lot of the info contained in the article. I believe the article should more appropriately be labeled: "Housing Bomb: 2014". |
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Edited by
Sojourning_Soul
on
Thu 03/13/14 11:51 AM
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Hacked Email from U.S. Army Attache in Ukraine - For False Flags to occur so U.S. can take military action against Russia The U.S. media is acting as if Russia invaded the country, when in reality the U.S. is the one who invaded the country before Russia. Russia is only protecting their assets in Crimea. The U.S. went in and got all of Ukraine's gold reserves and flew it to the U.S. for 'safe keeping'. A source in the Ukrainian government confirmed that the transfer of the gold reserves of Ukraine to the United States was ordered by the acting PM Arseny Yatsenyuk. http://sherriequestioningall.blogspot.com/2014/03/hacked-email-from-us-army-attache-in.html So now Ukraines gold will be spent just like Germanys and everyone elses was that they now can't get back, and when they do it is only a part of it and "different" gold. Safe keeping my ASSets! When will people ever see the truth about the IMF and Rothschilds World Banks, the puppet dictators they install and the reasons for war? 
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Hacked Email from U.S. Army Attache in Ukraine - For False Flags to occur so U.S. can take military action against Russia The U.S. media is acting as if Russia invaded the country, when in reality the U.S. is the one who invaded the country before Russia. Russia is only protecting their assets in Crimea. The U.S. went in and got all of Ukraine's gold reserves and flew it to the U.S. for 'safe keeping'. A source in the Ukrainian government confirmed that the transfer of the gold reserves of Ukraine to the United States was ordered by the acting PM Arseny Yatsenyuk. http://sherriequestioningall.blogspot.com/2014/03/hacked-email-from-us-army-attache-in.html So now Ukraines gold will be spent just like Germanys and everyone elses was that they now can't get back, and when they do it is only a part of it and "different" gold. Safe keeping my ASSets! When will people ever see the truth about the IMF and Rothschilds World Banks, the puppet dictators they install and the reasons for war?
And to think the mass media just keep forgetting to mention that little ole treaty that says Russia can have 25,000 troops there and they have invaded because they only have 16,000 and didn't send in the other 9,000 they are authorized. |
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Edited by
Sojourning_Soul
on
Fri 03/14/14 05:32 AM
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Sorry, Putin Isn't Crazy Why Russians have good reason to suspect the West's motives in Ukraine. BY Jeffrey Tayler MARCH 11, 2014 On reading this as a timeline of events and ascertions of the West one has to wonder just what road we are actually being led down, and who is actually the "crazy uncle" here. Iraq, Iran, Syria, Libya, Benghazi, Afghanistan, Somalia, Yemen and on and on....... Now I'm a patriot, I believe in and love my country, want what is best for it..... but at what price? We have read the history of conquering warlords like Genghis Khan, Alexander, Napoleon, Hitler, and of ancient Rome, the Crusades ...... how it ended up, and history remembers them. Maybe Putin isn't so crazy, and it worries me we may be facing our Waterloo under the guise of "bringing democracy" and "the worlds policemen"..... with the likes of Putin, backed by China and allied by N Korea and other ME countries, facing us..... and our backs to the water....with Obozo at the wheel What is the Rothschilds banker agenda, and can their puppets in NATO be trusted to have our backs , and the UN whose member nations seem to always vote against us...... http://www.foreignpolicy.com/articles/2014/03/11/sorry_putin_isnt_crazy 
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http://www.swissinfo.ch/eng/news/international/Insight_-_How_the_separatists_delivered_Crimea_to_Moscow.html?cid=38144802
the more things change,the more they stay the same in the Good Old USSR!
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Edited by
Sojourning_Soul
on
Fri 03/14/14 07:18 AM
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http://www.swissinfo.ch/eng/news/international/Insight_-_How_the_separatists_delivered_Crimea_to_Moscow.html?cid=38144802 the more things change,the more they stay the same in the Good Old USSR!
Room for one more in Sweden Con? Maybe 3 if a certain "house call" under the pretense of "computer repair" (there is an authoritarian 11 yr old child involved) should bring the beginning of an end to an era of singledom this evening 
And NO! no details....or video!
It's my 1st meeting with her son....... all I'm gonna say |
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http://www.swissinfo.ch/eng/news/international/Insight_-_How_the_separatists_delivered_Crimea_to_Moscow.html?cid=38144802 the more things change,the more they stay the same in the Good Old USSR!
Wow Reuters in a Swiss media source, remarkably different on how it would be edited here in the US, but the slant is still there from the good old US mass media. Always alluding to what is not there but never illuminating what is. |
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As Crimea prepares to vote on Saturday March 16th in a crucial referendum on its future, the rhetoric coming from the West and its propaganda machine has hit a new and ridiculous low. Not only has US President Barack Obama and his administration done everything to undermine democracy in Ukraine, they have now resorted to the most naked forms of hypocrisy in an attempt to delegitimize the democratic process.
On Thursday March 6th President Obama spoke at the White House on the referendum and the issue of Crimea. In his prepared remarks, Obama stated categorically that the United States would not recognize the results of the Crimean referendum. He argued that the it would violate both the "Ukrainian Constitution and international law." Obama kept the comedy coming when he noted that, "In 2014 we are well beyond the days when borders can be redrawn over the heads of democratic leaders." As with all statements made by the US government, and the President specifically, this must be contextualized and deconstructed in order to be effectively critiqued. First and foremost is the question of democracy and, more specifically, how exactly Washington is choosing to define this gravely abused word. In referring to the so-called "interim government" in Kiev, headed by Yatsenyuk and his associates, as "democratic leaders", Obama demonstrates either a complete lack of understanding of the word democracy, or as I think is more likely, an utter contempt for democratic principles. By referring to an unelected entity that has seized political power in Kiev by force, and through collaboration with Nazi elements, as "democratic leaders," Obama exposes himself and his administration to be cynical opportunists whose interests rest not in democracy but in a geopolitical agenda guided solely by strategic interests. |
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