Press Review on the Global Systemic Crisis

GEAB Excerpt - Bonds: Corporate vs. Government
The price of government bonds is determined by central banks. Central banks have the option to raise government bond yields a little, to scare out less experienced investors. The Fed can raise bond yields but will not let them rise much higher. High treasury yields would result in a financial havoc comparable with the 2008 crisis. A rise in treasury yields will result in the sell-off of all kind of assets, such as corporate bonds. The relationship between government and corporate bonds is a one way relationship and doesn’t exist the other way round; a corporate bond sell-off has little effect on treasuries. Corporate bond yields are partly determined by corporate sector default risk...
LEAP/E2020 - Excerpt GEAB N° 76 (June 16, 2013)
Billions in Debt, Detroit Tumbles Into Insolvency
Detroit, the cradle of America’s automobile industry and once the nation’s fourth-most-populous city, filed for bankruptcy on Thursday, the largest American city ever to take such a course. The decision, confirmed by officials after it trickled out in late afternoon news reports, also amounts to the largest municipal bankruptcy filing in American history in terms of debt...
New York Times
Unexpected Drop in Starts Curbs U.S. Housing Rebound: Economy
The residential real-estate rebound suffered a setback in June as housing starts unexpectedly fell to the lowest level in almost a year, curbing how much construction contributed to U.S. economic growth last quarter...
What Sunday’s Japan election means for Abenomics
If Shinzo Abe's ruling coalition wins Sunday's elections to the upper house of parliament, as predicted, Japan's prime minister will have a clear mandate to push ahead with his radical economic agenda. The only question now is will he run with it? ...
Police 'too busy' to walk the streets and prevent crime
Bobbies on the beat are disappearing from swathes of the country and being replaced by community support officers and unpaid special constables, an official report has found...
The Telegraph
The “McDonald’s Budget”: Laughably Unrealistic But Also Deeply Tragic
Can you support a family on $2,000 a month? Recently, McDonald's and Visa teamed up to launch a website that is intended to help employees of McDonald's manage their money. The aspect of the website that is getting a tremendous amount of national attention is the "McDonald's Budget" which is a sample monthly budget designed to help workers plan their spending...
Activist Post
In Mortgage Case, Dexia Claims Against JPMorgan Barred
The ruling significantly limits the potential legal bill from the case, a major victory for JPMorgan. The lawsuit was being closely watched on Wall Street, in part because it could provide a window into another high-stakes suit facing the industry...
New York Times
G-20 to discuss how to keep emerging economies healthy
Finance chiefs from the Group of 20 nations are likely to discuss how to prevent emerging economies from stalling when they gather Friday for a two-day meeting in Moscow, with market volatility casting a shadow over their future economic prospects.
Japan Times
Comment les lobbies détricotent la taxe sur les transactions financières
Il s'agissait de tirer les leçons de la crise, de "s’assurer que le secteur financier contribue de manière équitable et substantielle aux finances publiques", selon les termes de la Commission européenne, alors que 1 600 milliards d'euros d'aides publiques, soit 13 % du PIB de l'Union européenne, ont été versés à des établissements financiers entre le 1er octobre 2008 et fin 2011...
Le Monde
Affaire Snowden: parlementaires américains et britanniques s'opposent
Bobbies on the beat are disappearing from swathes of the country and being replaced by community support officers and unpaid special constables, an official report has found...
End to Egypt energy crisis prompts questions
In the lead up to the June 30 rallies that preceded the overthrow of Egypt’s President Mohammed Morsi by the army the country was in the middle of a fuel crisis hitting petrol and electricity supplies. But for now, both issues appear to be solved, and many people are asking how?...
Al Jazeera
Perdre son triple A. Et alors?
Lorsqu'un Etat voit sa note dégradée par une agence de notation financière, bien souvent les intervenants sur les marchés l'ont déjà anticipée. Conséquence: leurs réactions sont mdérées voire nulles. Ce sont plutôt les perspectives négatives et les annonces des banquiers centraux qui comptent...
La Tribune
More police called in to deal with Belfast rioting
The Orange Order has applied to the Parades Commission to march past the republican Ardoyne area this weekend. The order was banned from parading through Belfast last week, a move which led to five nights of violence in the city. The Parades Commission is due to rule on the request tomorrow...
'No Longer Necessary': Hungary Wants to Throw Out IMF
A long-running dispute between Hungary and the International Monetary Fund escalated on Monday when the head of the country's central bank called on the IMF to close its office in Budapest, saying it was no longer needed...
Der Spiegel
Indian rupee jumps after central-bank action
The Indian rupee soared against the U.S. dollar Tuesday after the Reserve Bank of India tightened its policies the previous day to stem the currency's weakness. Among the measures announced on Monday, the central bank set a ceiling of 750 billion rupees ($12.6 billion) on the the amount that banks could borrow from its daily repurchase agreement window... Read
Market watch
Zimmerman verdict brings protests, prayers
The Coalition for Justice for Trayvon responded to Saturday's not-guilty verdict by calling for nationwide protests Sunday. The protests, the group said in a statement, "will look toward a New America, where black and brown youth are protected by the justice system and racial oppression is ended." The coalition said the verdict was a failure of the entire criminal justice system...
USA Today