Tag Archives: Germany
There’s been some buzz in the markets lately, concerning the health of America’s sovereign debt. The nation owes other countries about USD 5,7 trillion, and about 3 trillion is due this year. Investors are worried that the US won’t be able to borrow much more, at least not to the same low price, and that big buyers of US Treasuries, like China and Russia, may start dumping their bonds to put USA in a financial squeeze. Well, I wouldn’t worry too much. You see, most countries who are lending money to the American government are receiving huge loans from US banks. The next victim of the debt crisis is probably not USA, nor the EU.
“Claims on advanced economies contracted by $342 billion between end-December 2012 and end-March 2013, mostly due to reduced claims on banks and related offices. This marked the sixth consecutive quarterly decline in interbank positions on advanced economies and brought the cumulative reduction since end-September 2011 to $1.9 trillion. In contrast, claims on borrowers in emerging economies increased by $265 billion between end-December 2012 and end-March 2013.”
Germany – USD 1,8 trillion.
France – USD 1,6 trillion
Netherlands – USD 1,9 trillion.
- Other EU bank: 1,5 trillion.
- France: 200.200 million.
- Australia: 121.577 million.
- Canada: 102.963 million.
- Other EU banks: 1,1 trillion.
- France: 198.000 million.
- Austria: 37,914 million.
- Canada: 23.838 million.
- Other EU banks: 714,235 million.
- Canada: 24,612 million.
- Belgium: 23,536 million.
- Austria: 13,442 million.
- Other EU banks: 577,427 million.
- France: 156,857 million.
- Belgium: 22,746 million.
- Canada: 13,722 million.
- United Kingdom – USD 2,6 trillion.
- Germany – USD 1,5 trillion.
- France – USD 1,2 trillion.
- Netherlands – USD 0,8 trillion.
“The latest international banking statistics show diverging trends in credit to advanced economies and emerging markets. Claims on advanced economies contracted by $342 billion between end-December 2012 and end-March 2013, mostly due to reduced claims on banks and related offices. This marked the sixth consecutive quarterly decline in interbank positions on advanced economies and brought the cumulative reduction since end-September 2011 to $1.9 trillion. In contrast, claims on borrowers in emerging economies increased by $265 billion between end-December 2012 and end-March 2013. The expansion was driven mostly by credit to emerging economies in Asia, especially China. In recent years, BIS reporting banks’ exposure to Asian credit risk has increased even more rapidly than their lending to Asian borrowers because lending has been accompanied by a reduction in net credit risk transfers out of the region.”
That means we now have a USD 30 trillion (+) debt bubble in transit between different parts of the world! (At the same time the richest people in the world has more than 20 trillion stacked away in places like Claman Island to avoid taxes.).
The Asians now owe other countries – mostly European – close to USD 2 trillion, with China‘s debt closing in on USD 600,000 million.
The rest is as follows:
South Korea: 309,363 million,
India: 304,920 million.
Chinese Taipei: 161,404
Malaysia: 155,500 million
Thailand: 102,299 million
Indonesia: 100,770 million.
Statistics at end-March 2013 are preliminary and subject to change.
Revised data and an analysis of recent trends will be released in conjunction with the forthcoming BIS Quarterly Review, to be published on 16 September 2013. Data at end-June 2013 will be released no later than 23 October 2013.
- UK economy: a miraculous recovery – or a blip in a longer-term decline? (theguardian.com)
- The real state of the world economy is dire (goldswitzerland.com)
- The On-Going Collapse Of The U.S. Treasury Bond Market Is A Disaster In The Making (blacklistednews.com)
- Local government debt in China may trigger a financial crisis (wantchinatimes.com)
- Japan’s debt: 1,000,000,000,000,000 yen (smartplanet.com)
Is journalism about to become history, noted in the ebooks as an antiquarian profession? There seem to be those who thinks traditional, fact-finding, journalism may already be dead. The major European finacial newspaper, Finacial Times Deutschland makes its last edition tomorrow, December 7. It will be like a funeral.
“News is becoming ever more streamlined. The concept of whole, complete article is out of date.”
The Financial Times Deutschland is hitting the newstands for the last time on December 7, and the Frankfurter Rundschau is insolvent. Behind this, lies a development that is bigger than the Internet, says media guru Sascha Lobo: news is becoming ever more streamlined. The concept of whole, complete article is out of date.
Food for thoughts her, at www.europress.eu:
“Don’t shoot the messenger” is the English proverb, meaning “Don’t punish the bearer of bad news.” Sure – but it’s hard not to.
The dying of the print media in Germany seems to have begun, and apparently the victims range from the left (Frankfurter Rundschau) to the centre (Financial Times Deutschland) – from the higher echelons including business magazine Impulse, to the lower ones such as lifestyle magazinePrince, which will be sold strictly online as of January 2013.
A lively discussion about the causes, and conclusions that must be drawn, has begun. Often it’s about business models, newspapers and of course the Internet. Less commonly, it’s about how the concept of news itself has changed, whether printed or pixilated.
Behind this lies a development bigger than the Internet. The history of technology is a history of streamlining: apparently, humanity has always striven to make the world fluid – and the Greek aphorism “Panta Rhei” (“Everything flows”) is to be grasped not as a declaration but as a clarion call.
Ironically, printed newspapers, which emerged in the early 17th Century, promoted streamlining in a crucial way; they were much faster at getting information across than the books that had been used until then. Digitisation and networking followed.
Written news therefore, whether on paper or via the Internet, comes in article form, which is the customary way it is consumed. But perhaps that will change, just because the audience also expects that same streamlining here. News gives you the feeling that you are up to date with the latest events. Perhaps it is not the printed newspaper, but the static coverage and the concept of a completed news article that lies at the heart of the crisis.
Brave news world
The printed magazine Landlust (covering life in the German countryside), which can be counted as a success, as it covers topics that keep it at a safe distance from the world of traditional news.
The Economist, hailed as a role model in both its printed and pixelated versions, sums up world news events in the print edition in one to three sentences; the remainder of the articles are analyses, background reports and opinion pieces. That is, texts that will help to understand the news process, rather that putting a reporter on them to flash-freeze them at a point in time.
A news article, regardless of the medium, is no longer enough to describe the world. The growing streamlining can be seen on the Internet as well, and for that reason the static article of news coverage we have grown used to has become obsolete. The news process does not tolerate any downtime.