Author Topic: CAUTION !!  (Read 2754 times)

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Re: CAUTION !!
« Reply #50 on: August 05, 2017, 03:54:44 PM »





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People have stopped saving for a rainy day and that's just when an economic crisis strikes
U.S. household savings are at their lowest since the Great Recession, with UK savings also falling.
"This was last seen in 2007, just before the bursting debt bubble blew the global economy and financial system to smithereens," says Albert Edwards of Societe Generale .
The potential economic calamity could be even worse in the UK, according to the strategist.
Fred Imbert   | @foimbert
Thursday, 3 Aug 2017 | 1:15 PM ET
CNBC.com
Bankers at an ATM
Education Images | UIG | Getty Images
Households in the United States and the United Kingdom aren't putting as much money away for a rainy day and that could mean trouble.

Albert Edwards, a strategist at Societe Generale, pointed out in a note Thursday that saving rates in the both countries have steeply fallen recently. In the U.S., the household savings ratio has fallen to 3.8 percent on a net basis, it's lowest since the Great Recession, and to about 7 percent on a gross basis. In the UK, meanwhile, the savings ratio has slumped to 1.9 percent on a gross basis.

Edwards illustrates the savings-rate downfall in the chart below, comparing both the U.S. and UK rates:



"This was last seen in 2007, just before the bursting debt bubble blew the global economy and financial system to smithereens," Edwards said, referring to the 2008 financial crisis.

The monthly ratio is savings as a percentage of disposable income.

The crisis sent financial markets across the globe into a tailspin and global central banks scrambling to stop the bleeding. It was then that the Federal Reserve and the Bank of England, along with other major central banks, introduced stimulative measures such as quantitative easing.

 Extreme savers refuse to spend money on these things   Extreme savers refuse to waste money on these things 
Wednesday, 26 Jul 2017 | 11:00 AM ET | 01:21
"The Fed and BoE should surely hang their heads in shame having presided over yet another impending disaster. Why will politicians and the people tolerate this incompetence? Indeed they won't," Edwards said.

The UK-based Edwards also said the potential economic calamity could be even worse in his home country because their savings rate is now below the U.S. rate.

[H]istory suggests that when UK SR (measured gross) declines to, or below, the US SR (measured net), as we saw in 1987 and as we see now, ... we in the UK are sitting on a massive credit bubble that is primed to burst with recessionary consequences. Alarm bells will be ringing all around the Bank of England but it is too late.

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Re: CAUTION !!
« Reply #50 on: August 05, 2017, 03:54:44 PM »

Online king

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Re: CAUTION !!
« Reply #51 on: August 05, 2017, 04:02:17 PM »




Zahid offers himself for MACC investigations
Chan Kok Leong
Chan Kok Leong
Updated 2 hours ago · Published on 5 Aug 2017 1:08PM · 2 comments
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Zahid offers himself for MACC investigations
Deputy Prime Minister Ahmad Zahid Hamidi wants MACC to investigate his assets, at the Baling Umno meeting today. – The Malaysian Insight pic by Zainal Abd Halim, August 5, 2017.

DEPUTY Prime Minister Ahmad Zahid Hamidi has offered himself to be investigated by the Malaysian Anti-Corruption Commission (MACC) to clear his name over allegations that he had RM230 million in his account when he was an Umno Youth exco.

“That person (Dr Mahathir Mohamad) wants to force me to declare my assets. He wants MACC to investigate me. And so I offer myself to be investigated,” Zahid told a packed hall during the Baling Umno delegates meeting today.

“At the same time, I hope MACC will also investigate his assets and the wealth of his family.

“But even if I had so much money it was not illegal as I wasn’t in government at that time. I was a businessman, a CEO of a listed company and held directorships in three listed companies,” said the Umno vice president.


Zahid, who is carrying out the duties of Umno deputy president after Muhyiddin Yassin was sacked from the party last year, said he wants MACC to clear his name.

The Zahid-Dr Mahathir spat began with Zahid striking the first blow by taking a dig at the 92-year-old's Indian heritage.

“Dr Mahathir has likely forgotten this fact – that he is the son of Iskandar Kutty,” Zahid said of the former prime minister who now leads opposition party Pakatan Harapan.

Dr Mahathir returned the salvo by claiming that Zahid had suggested ousting Najib in 2015.

The former prime minister also alleged there was RM230 million in Zahid’s account when he was Umno Youth chief.

Zahid was chairman of Bank Simpanan Nasional, Ramatex Bhd, Tekala Corporation Bhd and Seng Hup Bhd. He was director of Permodalan Nasional Bhd and CEO of Kretam Holding Bhd before becoming Umno Youth chief in 1996.

Never bite the hand that feeds

Zahid, who is also the Home Minister, continued to deny he had plotted against Najib with Dr Mahathir in 2015.

“I have known Najib long before I was appointed his political secretary on Oct 1, 1987 when he was Sports Minister. And I have worked under him till now for almost 30 years.

“I have never bitten the hand that feeds me, much less stab someone in the back,” Zahid told the delegates.

Zahid said that many have challenged him to release the tape recording of his meeting with Dr Mahathir in 2015, held shortly after Zahid became deputy prime minister.

Dr Mahathir had apparently suggested in their conversation that Najib is ousted through a vote of no-confidence.

“They challenge me to release the tape. Maybe I will release it one day but I’m not so stupid. The recording is with me and the recording is with the relevant people.

“The tape is being analysed and narrated now, although it has been two years since it was made.”

He said he had met Najib before the meeting with Dr Mahathir.

“I had been informed that Dr Mahathir had already begun to move against Najib. I went (to see Dr Mahathir) because I still respect him, and Najib had given his approval too.”

Zahid also said he did not mean to raise the question of Dr Mahathir’s Indian ancestry.

“I did not mean to insult his race. More so when Baling MP and Baling division chief Abdul Azeez Abdul Rahim is also of Indian heritage.

“I’m colour blind and we are a multiracial country that needs to respect every race. but I cannot accept it when I am faced with a liar… especially about the RM230 million allegation.” – August 5, 2017.

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Re: CAUTION !!
« Reply #51 on: August 05, 2017, 04:02:17 PM »