Cleitus: This announcement or article has now just been reported to us. (see article below)
If this is correct..., and, I'm reading this at 6:45pm EST, the time in Iraq is now 7-8 hours ahead of EST. This means Parliament had to approve this well before the 11th. What else will be coming out of Iraq that we yet don't know? IRAQ!!!
Militia: So it looks as they have the budget done with the second reading. Note that it is "subject to". That reads IMO that it can be amended as need be. For instance, you say you need 100 houses for displaced women and children. Turns out ten found a husband and don't need the housing any longer. Budget goes green. Vice Versa..
The fact that this is said to be at this stage on the 7th the same day that they have the meeting with the IMF in regard to MPs is oh so telling. The photo op with Barzani and Abadi smiling on the red carpet adds to the ambience of it all. IMO that red carpet, hand shakes and smiles is not stress related to war. It is victory and reconciliation with payday and global agreements in action!!
The Unami has IRAQs back with force if need be. They are lately talking of lower denoms and replacing the dollar with dinar, selling bonds on the ISX. The list goes on.
Lets hope and pray that what they are doing by actions is literally telling us we are almost home or in the driveway at this point from prom night!! Lol
Don061: Publicly budget
7/11/2016 0:00 Maitham Allaibi
General budget in 2017 and reached the House of Representatives and approved, which is of great importance, which requires registration of several notes, but the important thing at this moment, is said to be dealing with this matter biggest openly.
Publicity, introduced in modern economic literature as one of the budget rules, which are no less important than unity, inclusiveness and annual ...
It requires that the announcement of the budget and its clauses and objectives under which painted to the public, and briefed them through various means such as media and advertising, according to multiple levels , ranging from the press and the owners of specialization, academics and interested citizens, a is quite different from the public budget discussion by the parliament, which is inevitable, but it comes at a later stage, in the readings of the first and second before ratification. the general budget must be subject to "post" views are countless, with an interest in the budget , the fact that budget , the latter reflecting the economic targets and social and political belonging to the nation collectively, the various sectors.
this review was of great benefit to policy - budget themselves, let alone the will be approved and the public against him, participation is mainly based on the principle of faith in democracy and decision - making with the participation of agencies and different levels, as participating in the budget debate down to an agreed final version exempts the executive and legislative authorities of part of the responsibility and are Mkasemtha with the general public , who offered him.
publicity can represent an important reference for officials to straighten out some of the challenges that can be faced by the material, as it represents the Notes feedback can be included.
at present our budget there are more than material can be presented for discussions intensive and fast, there are loans that burdened the budget and the possibility of out - of increasing the indebtedness financial resources management issues, there are issues related to the points the relationship between the center and the region, in addition to issues of rationalization of spending, and perhaps material relating to. Vacation normal long - term fall in the forefront.
budget participatory creates great credibility between the state and the citizen, a balancing out of the rooms and officials up to the poor, women and marginalized houses, which can be lifted from the balance of the state and its popularity.
Dew7: I was having to do some research for work and Armistice Day (the ending of WW1 was done on Nov. 11th 1918 and the armistice was signed on the 11th hour of the 11th day of the 11th month... pretty cool! What a celebration it was.
Now I too am hoping for a celebration on the 11th day of the 11th month... I hope to be celebrating my newly RV'd currency.
I hope tomorrow is a red day for us all (Monday CC) .... all the way down to Frank's red socks... we will see. Dew7
Dew7: Quote: "DELTA: Just like to inform the Family that we are really very close….the windows we talked about earlier…November 7th or December 7th….basically the Iraqi’s have no way around this…so it looks like in November if they want to get the money from the IMF they have to make their move….otherwise after December 15 they cannot do anything….they have to do it by that time"
Just reading through the notes and was wondering what it means by after the 15th they cannot do anything. Is it because they can't get their money after the 15th? Is it because they are on leave till the middle of Jan? Then we wait probably till the end of first quarter? Sorry if this has already been covered, just curious to hear. Dew7
Doodlebug: Hey there Dew....My understanding is that International Banking shuts down after the 15th of December for a month. This doesn't mean that it = waiting until the "end of first quarter" in any sense of the word.
Don961: Stronger recoveries in the US and the UK relative to the eurozone and Japan led to divergence in expected paths for monetary policies and appreciation of the dollar and sterling (pre-Brexit).
Monday, November 07, 2016
Global Imbalances Rising Again
While the net foreign asset position (liabilities) of debtors has not diminished as much, their current account adjustment has added to the soaring surpluses the eurozone as a whole runs with the rest of the world
Discussions around large current account imbalances among systemically relevant economies as a threat to the stability of the global economy faded out in the aftermath of the global financial crisis. More recently, some signs of a possible resurgence of rising imbalances have brought back attention to the issue, Otaviano Canuto, executive director of World Bank said.
For five years now, the International Monetary Fund has produced an annual report on the evolution of global external imbalances—current account surpluses and deficits—and the external positions—stocks of foreign assets minus liabilities—of 29 systemically significant economies. Results for 2015 showed a moderate increase of global imbalances, after they had narrowed in the aftermath of the global financial crisis and stabilized in the interim (IMF, 2016), news outlets reported.
The evolution of imbalances in 2015 is explained by the IMF as mostly reflecting three major drivers:
First, the recovery among advanced economies proceeded in an asymmetric fashion. Stronger recoveries in the US and the UK relative to the eurozone and Japan led to divergence in expected paths for monetary policies and appreciation of the dollar and sterling (pre-Brexit). The deficits of the US and UK widened whereas surpluses increased in Japan and both debtor and creditor countries of the eurozone.
Second, the fall of commodity prices—especially oil—transferred income from commodity exporters to importers. Overall however, it made only moderate contribution to narrowing imbalances.
Third, prospects of monetary policy normalization in the US, as well as bouts of fears about the softness of China’s rebalancing, contributed to a slowdown of capital inflows and depreciation pressures in emerging markets, Canuto said.
All in all, larger US deficits and augmented surpluses in Japan, the eurozone and China more than compensated for smaller surpluses in oil exporters and smaller deficits in deficit emerging markets and eurozone debtor countries. Hence, global current account imbalances widened last year, even if “moderately”.
A picture of higher global imbalances, however, emerges if one focuses on the rising surpluses of two systemically relevant groups of economies. Reports show how in the eurozone, deficits in debtor countries have shrunk in tandem with the maintenance of surpluses in creditor countries (slightly increasing in the case of Germany).
While the net foreign asset position (liabilities) of debtors has not diminished as much, their current account adjustment has added to the soaring surpluses the eurozone as a whole runs with the rest of the world.
Era of Imbalances
On the one hand, credit-driven, asset bubble-led growth in the US, along with wealth effects, intensified the existing trend of domestic absorption (particularly consumption) growing faster than GDP. This resulted in falling personal saving rates and increasing current account deficits.
On the other hand, the accelerated structural transformation and rapid growth in China, led to high and rising savings and investments and producing ever larger current account surpluses.
Two caveats about these distinctive-yet-combined processes are needed. First, the bilateral US deficit with China in the period shrinks by a third when measured in terms of value added, as China became a “hub or a stroke” of value chains with intermediate stages supplied from abroad. The US-China bilateral imbalance therefore constituted outlets for production beyond China.
Second, while often linked as mirror images of each other—as in the hypothesis of an Asian “savings glut” causing low interest rates and asset price hikes in the US—the US asset bubbles were more strongly associated to the “excess elasticity of the international monetary and financial system”, rather than to Asian current account surpluses.
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Office: Maliki retired and receives a salary or bonus or allowance or an increase in protection
By Roudao 6 hours ago
Roudao - Erbil
The Information Office of the President issued a coalition of state law , Nuri al - Maliki, a clarification on the expenses of the Vice President of the Republic who have returned to their duties by judicial decision of the Federal Court offices.
Where the statement noted that "as far as Mr. al-Maliki is retired and receives a salary or bonus from the presidency, did not allocate him not previously when he was in office, and yet no allocations for the purchase of cars or furniture or monitor the amount of maintenance or opening new offices, nor expenses and travel allowances and an increase in protection. "
The statement said, "The return and acceptance of the functions of office and welcomed the decision was aimed at working with the President to activate the functions of the Presidency and files entrusted to it under the Constitution, as well as his desire to work to support the legislative process and monitor the implementation of the Constitution in general and the laws he hopes cooperation between the President and the House of Representatives that perform a service for the stability of the political process and support, strengthen and correct and address the violations. if they have to achieve the service of the homeland and the citizen. Link
Militia: So he has been offered a settlement to go away, shut up and be quiet or ___________ (swinging in the air sounds and rope creaking.) ??
PappaJ: THIS IS ABOUT AS GOOD AS YOU ARE GOING TO GET ---- HIS DEAL WAS MADE A LONG TIME AGO!!!!