PappaJ: 2 questions FRANKIE:
1. WHAT ARE THE ISSUES THAT WILL AFFECT THE USA?
2. WHAT IS THE REASON THAT SHE WILL HAVE TO WAIT UNTIL 3PM EST TO TALK ABOUT THEM?
'''''''' CAN WE SAY PERFECT STORM?????
Waiting3 » June 16th, 2014, 2:28 pm • IMF's Lagarde: Iraq Oil Shock May Threaten U.S. Economy
By Matthew RoccoPublished June 16, 2014FOXBusiness
The ongoing turmoil in Iraq has the potential to throw a wrench into the U.S. economy, International Monetary Fund managing director Christine Lagarde said in an interview on FOX Business.
Escalating battles between Iraqi forces and an Al Qaeda-inspired terrorist group, which has taken control of several key cities, have fueled concerns over an oil shock. Brent crude oil, the international benchmark, climbed 4.2% last week.
On Monday, Brent crude was up 47 cents at $112.93 a barrel, while West Texas Intermediate crude jumped another eight cents to $106.99 a barrel.
“When we look at big geopolitical risks of that nature, we have to look at the spill of the consequences on the U.S. economy,” Lagarde told FBN’s Liz Claman. “We believe the oil shock that could result from the current tension in Iraq in particular might affect the economy.”
For that to happen, the shock “would have to be rather deep and rather long lasting,” Lagarde added.
The interview followed the release of the IMF’s annual report on the U.S. economy. The organization slashed its forecast for 2014 economic growth to 2% from 2.8% in response to a weak first quarter. Its growth projection for 2015 remained at 3%.
“What happened is [the first quarter] was dreadful,” Lagarde commented. “Our forecast is revised downwards, but our expectations are quite high and positive for the coming months.”
In its report, the IMF said the U.S. should consider raising the minimum wage, which is currently 38% of the median salary.
“I know it’s controversial. But we also look at numbers, and we see that the United States is within the last three countries (among Organization for Economic Co-operation and Development members) with a minimum wage that is less than 40% of the median wage,” Lagarde explained.
When asked about concerns among small and large businesses, Lagarde acknowledged there might be a loss of jobs “in the short term.”
“When you look at the significant increase of income that poorly paid people will have, we believe that in the long run it will be net positive for the economy and for employment as well,” she added.
The IMF is also recommending a gradual elimination of itemized deductions and other tax reforms, with Lagarde saying the tax code is too complex.
Based on its latest report, the IMF believes the U.S. economy will not return to full employment until the end of 2017, while inflation estimates remain low. As a result, the Federal Reserve could keep its policy rates near zero “for longer than the mid-2015 date currently foreseen by markets,” according to the IMF.
MoneyTalks1: Remember Frank has said several times that as soon as the Judicial body has ratified the election results (which happened today), that there is a strong possibility that we will see the IR shortly after that. Well..will i guess we will wait... Chow for now.
aggiedad77: I agree.....what I am surprised is that if the Court truly ratified the election results why wasn't there more media coverage of the event......still smell a pole cat in the wood pile for the time being.....ever watchful. Randy
Moneytalks1: I like "pole cat". I think within the next 2-3 days, we will see some more transparency with many issues . I really believe that an IR is just on the horizon. Almost there!!!
Notthe1: HOUSTON....THIS IS LUNER EAGLE ONE ...DO WE HAVE A GO FOR LIFTOFF?
Sager: Here is the interview (text)... I don't see where she talks about needing to be silent until 3pm:
Bamaltc: Here is the CL interview from Fox Business, about 7 min long.... http://www.foxbusiness.com/topics/politics/christine-lagarde.htm
[daz] DC QUOTE "YOU ARE AS HAPPY AS YOU WANT TO BE"
[daz] WHAT WOULD REALLY BE DEPRESSING IS TO NEVER HEARD ABOUT DINAR AND NEVER HAVING A SHOT AT WHATS COMING
BadScott54: 6-16-2014 Poppy3 Article quote: "Days after Iraq's second-largest city fell to Al Qaeda-inspired fighters, some Iraqis are already returning to Mosul, lured back by insurgents offering cheap gas and food, restoring power and water and removing traffic barricades." Only days after Mosul fell, Iraqis return to find lower prices, restored services and more. like old POPPY3 TOLD YOU THINGS WILL CHANGE FOR THE BETTER VERY FAST.
Shybaby: Iraq Election winners, Review of all Appeals completed... Awaiting Federal Court Approval ..since Thursday!
16/06/2014 - The results of the elections in the custody of the Federal Court since Thursday
o Baghdad / Ghazanfar Laibi
Confirmed the Electoral Commission for elections it had sent the names of the winning candidates membership of the House of Representatives to the Federal Court, also confirmed that the judiciary has completed a review of all appeals submitted to it, and there is no legal justification for delaying the ratification of the results, while considered the parliamentary legal committee that the delay in the ratification is not in everyone's interest and lead to a legislative vacuum and legal. said the spokesman of the Independent Higher Commission for Elections chroma-Moussawi said in an interview to the "long", "
The Commission sent the names of the winning candidates to the Federal Court for approval, and announcement of final results," noting that "the judiciary has completed consider appeals submitted to it. " Al-Moussawi said that "the law required the Federal Court to ratify the results," explaining that "the Federal Court is currently legal procedures in order to decide the outcome of the winners."
Moussawi said that "the Electoral Commission for elections has special procedures work completed All the tasks entrusted to them, and announced the preliminary results of the elections and the Commission considered the judicial appeals, and now await the Federal Court approval of the final results. "
confirmed al-Moussawi said "the election commission did her best over the previous period with full transparency and impartiality, and according to the law, but is not there any problems in the authentication the names of candidates the winners of the membership of the House of Representatives. " and tried to "long" clarification of the Federal Court on the date of announcement of final results of the elections,
but it has not received an answer to frequent contacts with the media office belongs. , for its part, said a member of the legal committee for the State of Law Jinan Albraism in an interview to "long", that "the Electoral Commission for elections, said it had sent Thursday the names of the winners of the parliamentary elections held on the thirtieth of April to the Federal Court for approval of the final results," indicating that "all the political blocs pending the final results of the elections as soon as possible In order to direct the formation of the government. "
explained Albraism, "it was the resolution of appeals submitted to the Electoral Commission, and the names of the winners is now at the Federal Court, and wait for ratification," pointing out that "the delay in the announcement of results is not in favor of the political blocs in general and the Federal Court to complete procedures to validate the results. " and demanded Albraism of the Federal Court to "expedite announce the names of the winners for the lack of a legislative vacuum, and legal," calling at the same time to "unite the efforts of all Iraqis and all the political blocs to stand together to face the challenges facing the country."
She Albraism that "the country is in a crisis of security unenviable, so you should miss an opportunity to terrorists and unite to confront anyone who tries to compromise the security of Iraq," pointing out that "several problems facing the country including the failure to approve the federal budget and other problems that must be solved as soon as soon as possible to get out of the crises that may occur due to the delayed ratification of the names of the winners. " LINK
Dr. Rich: There is no gap, and the government is working as it should, and without Maliki. We have just not heard nor seen all of the news yet. Dr. Allawi, President of the National Alliance Coalition, said that Maliki would put up a bitter fight to the end, and with lying about everything. Has that not been seen?? Also, the leaders in Iraq know what is going on, and no they don't have to tell us anything. Al Hakim, the major leader, said, "Maliki does not have authority to announce a state of emergency. If, Maliki does not have authority to do that, he now has no authority, and no immunity! There are major forces in Iraq, including about 9K US troops, and against just 1700 militants? Many of them have been killed, and this whole scenario was put together by Maliki and Iran with the help of the Iran Tug Forces, just like Dr. Allawi said.
Topic: Once you say you're going to settle for second, that's what happens to you in life. John F. Kennedy
[sonnyday] A Fictitious ISIL to Scare Us Away From the Truth in Iraq Posted: 15/06/2014 21:34 The UK, having invaded Iraq 11 years ago on a very questionable pretext and having left with Nouri al-Maliki as prime minister obviously brings us some responsibility for what is happening there today. Amidst a rising discontent against Iraqi prime minister Maliki and his blatant human rights violations, and at a time when the public as well as both Shiite and Sunni leaders including Maliki's own allies were asking him to step down, the news came out on Tuesday 10 June that Mosul, Iraq's second-largest city, had been captured and Maliki's army had fled the city in a matter of just one hour leaving most of their weaponry and uniforms behind. http://www.huffingtonpost.co.uk/lord-maginnis/iraq-isil_b_5494529.html?utm_hp_ref=uk&ir=UK
[FLPatriot59] Tweet just received from @originalmarkz: oh where oh where could that pesky RV be? Still looking, Good progress though....
[jamajacks] cain321 We will be there as soon as we all see and understand the new alphabet .. ABC Asset Backed Currency. IMO
[cain321] Jamajacks: I am so ready. Hoping for this week.