Friday, February 08, 2008

Emerging Markets to the Rescue? Recurring Theme

Emerging Markets Rev Up Toyota Sales--Toyota's profit for the fourth quarter jumped 7.5% from the previous year as booming sales in China, Africa and South America offset declining US sales and a stronger yen, the Japanese car maker reported yesterday.

Overseas Snack Sales Help PepsiCo Meet Expectations--The snacks business registered double-digit growth in Russia, the Middle East, Turkey and India. The beverage business had double-digit increases in the Middle East, China, Brazil, Argentina, India and Russia. PepsiCo reported a quarterly profit on Thursday that met analysts’ expectations.

7 Comments:

At 2/08/2008 9:09 PM, Anonymous Anonymous said...

Amazing what happens to exporters earniings when they are baaed in a country that is devaluing their currency. I think that is the Japanese model, Print so much money that it losses value against other currencys by dropping intrest rates to below the inflatioin rate.
Enough said.

 
At 2/08/2008 10:10 PM, Anonymous Anonymous said...

Good shot on the spelling...that was a great comment!!

 
At 2/08/2008 11:35 PM, Anonymous Anonymous said...

anon 10:10pm

ha ha ha ha ha ha!!!!!!

 
At 2/09/2008 7:15 AM, Anonymous Anonymous said...

In recent months, many equity investors have taken comfort from the idea that sovereign wealth funds could ride to the rescue of Wall Street… Thus far $40bn-60bn-odd worth of injections have been promised to groups such as Merrill Lynch and Citi, depending on how you measure the promises. But having stepped into the breach so visibly late last year, some funds are now getting jitters. In China, for example, there are rising complaints that funds are foolish to shovel cash directly into risk-laden US banks when they could be using it in better ways, such as purchasing western commodity or manufacturing groups. ‘The Chinese are worried they are turning into [the source of] dumb money,’ says one well-placed Asian financier, who partly blames the trend on the Blackstone saga, which produced significant paper losses for the Chinese investors. Meanwhile, in the Middle East, the latest round of Federal Reserve interest rate cuts has created unease.”

 
At 2/09/2008 10:11 AM, Anonymous Anonymous said...

http://quotes.ino.com/chart/?s=NYBOT_CI&v=dmax

http://research.stlouisfed.org/fred2/series/TWEXMMTH?cid=105

Uh Huh

 
At 2/09/2008 3:59 PM, Anonymous Anonymous said...

NEW YORK, Feb 8 (Reuters) - The U.S. economy has entered a recession that will be more painful and drawn out than the usual downturn, the director of the Reuters/University of Michigan consumer sentiment survey said on Friday.

Inflation pressures will linger despite the retrenchment in consumer spending, complicating the task of policy-makers, the University's Richard Curtin said in a report, citing data from the Reuters/University of Michigan Surveys of Consumers.

"This is no ordinary recession," he said. "The aftereffects will last much longer than the typical downturn."

He said the Reuters/University of Michigan's expectations index is a strong predictor of economic contractions, and that it is currently flashing red.

http://www.reuters.com/article/bondsNews/idUSN0954947220080209

Ok

 
At 2/11/2008 7:39 PM, Anonymous Anonymous said...

Anon. 3:59

When does an opinion survey = an economic downturn? If one thinks that the moon is made out of green cheese, is it? Polling is more appropriate for primaries than as a metric for the economy.

At this point, there are many contradictory pieces of data rather than overwhelming, and conclusive data to support the conjecture of recession. If this is an economics blog, it would seem that we should be capable of discerning between opinion and economic data.

Show me the beef!

 

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