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AFTER EXTENSIVE AND SOMETIMES USELESS DISCUSSIONS, THE ENTIRE ‘FROM SCRATCH NEWSWIRE GROUP’, IN FACE OF A POSSIBLE GENERAL STRIKE WITHIN THE GROUP, DECIDED TO TAKE A COLLECTIVE VACATION … SEE YOU FOLKS IN MARCH … AND BY THE WAY, OUR COLLECTIVE VACATION HAS NOTHING TO DO WITH THIS PRESENT GLOBAL FINANCIAL CRISIS …

Posted by Gilmour Poincaree on February 1, 2009

Sunday, February 01, 2009

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THE FROM SCRATCH NEWSWIRE GROUP IS ON VACATION 'TIL MARCH

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Posted in - UNCATEGORIZED, A BOLSA DE VALORES, A CASA CIVIL, A CORRUPÇÃO NO APARELHO DO ESTADO, A CRIMINALIZAÇÃO DOS MOVIMENTOS SOCIAIS, A ENERGIA ALTERNATIVA, A INDÚSTRIA DA COMUNICAÇÃO, A INDÚSTRIA DE ALIMENTOS, A INDÚSTRIA DE CALÇADOS, A INDÚSTRIA DIGITAL, A INDÚSTRIA DO TURISMO, A POLÍCIA CIVIL, A POLÍCIA MILITAR, A PRESIDÊNCIA, A QUESTÃO AGRÁRIA, A QUESTÃO ÉTNICA, A QUESTÃO ENERGÉTICA, A QUESTÃO FEMININA, A QUESTÃO PREVIDENCIÁRIA, AÉREO, ABIN, AC, AERONÁUTICA, AEROPORTOS, AGRICULTURA, AGRICULTURA FAMILIAR, AGRICULTURA SUSTENTÁVEL, AGRICULTURAL PLAGUES, AGRICULTURE, AGRONEGÓCIOS, AGROTÓXICOS, AL, ALIMENTOS PROCESSADOS, AM, AP, ARRECADAÇÃO DE IMPOSTOS E CONTRIBUIÇÕES, AS FORÇAS ARMADAS, AS GANGUES 'MILICIANAS', AS INDÚSTRIAS DE MINERAÇÃO, AS RELAÇÕES DE TRABALHO E EMPREGO, ATIVIDADES CRIMINOSAS - BRASIL, AUTOMAÇÃO DO COMÉRCIO, AUTOMAÇÃO INDUSTRIAL, ÍNDICE DE PREÇOS AO CONSUMIDOR (IPC), ÍNDICE DE PREÇOS AO CONSUMIDOR - AMPLO (IPCA), ÍNDICE GERAL DE PREÇOS - DISP. 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FIXA E MÓVEL, THE FLOW OF INVESTMENTS, THE WORK MARKET, TO, USA, VEREADORES | 1 Comment »

THE NUMBERS ARE HORRIFYING (USA)

Posted by Gilmour Poincaree on January 20, 2009

Jan. 26, 2009

Mohamed A. El-Erian

PUBLISHED BY ‘NEWSWEEK’ – print edition -(USA)

NEWSWEEK – Jan. 26, 2009

GLOBAL INVESTOR

By Mohamed A. El-Erian

THE NUMBERS ARE HORRIFYING

On Tuesday, President-elect Barack Obama inherits an economic calamity, and the situation will get worse in the first few months of his presidency regardless of what he does. How quickly it improves thereafter is not just a matter of which policies he decides to pursue; importantly, it is also a function of how he pursues them. Investors need to pay close attention lest they experience yet another challenging and, in some cases, devastating year.

No one should doubt that we are still in the midst of a historic economic crisis. Having incurred massive losses, individuals and companies around the world are, not surprisingly, saving more—some by choice as they attempt to restore balance to their finances and others by necessity as their credit lines are cut by beleaguered lenders. As detailed elsewhere in this edition of NEWSWEEK, the world has entered an Age of Thrift. Less spending by individuals will mean even lower demand, and the production of goods and services will be cut, again.

The latest economic data vividly illustrate the self-fulfilling nature of this global phenomenon. The numbers are horrifying, and increasingly so. There’s been a violent collapse in industrial production in Europe; the latest monthly data now show annual contractions of 17 percent in Spain, 13 percent in the U.K., 9 percent in France and Italy, and 6 percent in Germany. Emerging economies are now on the same course, with contractions of 9 percent in Russia and 4 percent in Brazil.

At the same time, the labor market is deteriorating dramatically in both Europe and America. The United States has now registered 12 consecutive months of job losses, including more than half a million in December, bringing the 2008 total to 2.6 million—a level not seen for more than 60 years. The crisis continues to catch people by surprise, suggesting that too few people sufficiently understand its dynamics. The U.S. Commerce Department reports that December retail sales declined at more than twice the rate expected by most forecasters, and further extended the record for consecutive monthly declines, now six .and counting. President elect Obama faces the prospect of more corporate defaults, pension losses and personal bankruptcies in the coming months. Fortunately, he has already shown that he has a good understanding of the need for an aggressive fiscal stimulus, and Congress seems to be onboard.

Without massive public stimulus, there is little chance of countering the highly disruptive consequences of a too sudden and too prolonged ascent of the Age of Thrift.

Yet there is a risk that this consensus could break down in quibbling over the details. Specifically, we should stop the bickering over whether to cut taxes or raise spending. Both are required. The tax cuts should work mainly through employment channels, including a cut in the payroll tax as this will directly help employment and limit the fall in consumption. Government spending should focus on sectors that will quickly raise resource productivity, like infrastructure, which helps lower production costs, and social services, which raise human productivity overtime.

Obama also needs to step up efforts to alleviate the credit crunch. This is not about an immediate recovery in the banking system. It won’t happen. The sector is too damaged to act as a conduit of funds to the general economy. Instead, the government must come up with more imaginative ways to provide direct financing, particularly for mortgages and some areas of consumer finance.

Obama’s economic appointments suggest that he understands how important it will be to get the design and implementation of these policies right. The highly capable Larry Summers and Tim Geithner should focus on coming up with a master plan to lead the country out of the crisis. This will ensure that the immediate measures implemented are consistent over time with a resumption of economic growth and rising productivity.

Managing expectations is also more important than ever. In his remarks on the financial crisis in November and December, Obama came across as informed, committed and careful not to over-promise. Yet his efforts have been largely negated by recent talk out of Washington of regulatory clampdowns, potential abrogation of property rights and other non-market solutions. The president-elect will have to step up quickly to the challenge of consistently better communication if he is to instill the confidence that is critical for a meaningful economic turn later this year.

Finally, Obama should signal clearly that he knows a global dislocation requires a global response. What was a U.S. financial crisis has morphed into a challenge to the international market system. An effective solution will not materialize unless the United States takes a policy leadership role on the global stage. It’s a role no other country can credibly play. With Obama as president, the world is exceptionally welcoming to U.S. leadership. He must seize this opportunity for the economic good of America, and the world.

ELERIAN is CEO and co-CIO of PIMCO and author of “When Markets Collide: Investment Strategies for the Age of Global Economic Change,” winner of the 2008 FT/Goldman Sachs business book of the year award.

PUBLISHED BY ‘NEWSWEEK’ – print edition -(USA)

Posted in AGRICULTURE, BANKING SYSTEM - USA, BANKRUPTCIES - USA, BARACK HUSSEIN OBAMA -(DEC. 2008/JAN. 2009), CENTRAL BANKS, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, FARMING SUBSIDIES, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FOREIGN POLICIES - USA, HEALTH CARE - USA, HOUSING CRISIS - USA, HUMAN RIGHTS, INDUSTRIAL PRODUCTION - USA, INDUSTRIES - USA, INTERNATIONAL RELATIONS, MACROECONOMY, NATIONAL DEBT - USA, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF PRIVATE COMPANIES, RESTRUCTURING OF THE PUBLIC SECTOR, STATE TARIFFS, THE FLOW OF INVESTMENTS, THE ISRAELI-PALESTINIAN STRUGGLE, THE OCCUPATION WAR IN IRAQ, THE PRESIDENCY - USA, TRADE DEFICIT - USA, UNEMPLOYMENT, USA, WAR IN AFGHANISTAN, WARS AND ARMED CONFLICTS | Leave a Comment »

GOVT. TO PROCURE 6.5M TONNES WHEAT THIS YEAR (Pakistan)

Posted by Gilmour Poincaree on January 20, 2009

Tuesday, January 20, 2009

by Jawwad Rizvi

PUBLISHED BY ‘THE NEWS INTERNATIONAL’ (Pakistan)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE NEWS INTERNATIONAL’ (Pakistan)

Posted in AGRICULTURE, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, FARMING SUBSIDIES, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FOOD PRODUCTION (human), INDUSTRIES, INTERNATIONAL, PAKISTAN, RECESSION, THE FLOW OF INVESTMENTS, WHEAT | Leave a Comment »

E.U. REINSTATES DAIRY SUBSIDIES TO BOLSTER PRODUCERS

Posted by Gilmour Poincaree on January 20, 2009

Tuesday, 20/01/2009

ABC – Rural

PUBLISHED BY ‘THE AUSTRALIAN BROADCASTING CORPORATION’

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE AUSTRALIAN BROADCASTING CORPORATION’

Posted in BANKING SYSTEMS, COMMERCE, COMMODITIES MARKET, DAIRY PRODUCTS, ECONOMIC CONJUNCTURE, ECONOMY, FARMING SUBSIDIES, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FOOD PRODUCTION (human), INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, RECESSION, THE EUROPEAN UNION, THE FLOW OF INVESTMENTS, WORLD TRADE ORGANIZATION | Leave a Comment »

MOMENTUM AND CONFIDENCE IS CRITICAL

Posted by Gilmour Poincaree on January 19, 2009

4:00AM Monday Jan 19, 2009

by Mike Moore

PUBLISHED BY ‘THE NEW ZEALAND HERALD’

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE NEW ZEALAND HERALD’

Posted in 'DOHA TALKS', AGRICULTURE, BANKING SYSTEMS, CHINA, COMMERCE, COMMERCIAL PROTECTIONISM, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, FARMING SUBSIDIES, FINANCIAL CRISIS 2008/2009, FOOD PRODUCTION (human), FOREIGN POLICIES, G20, GERMANY, INTERNATIONAL, INTERNATIONAL RELATIONS, JAPAN, NEW ZEALAND, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, THE FLOW OF INVESTMENTS, UNITED KINGDOM, USA, WORLD TRADE ORGANIZATION | Leave a Comment »

MARKET DROP HAS RANCHERS FEELING DOWN (USA)

Posted by Gilmour Poincaree on January 19, 2009

Jan 17, 2009 4:00 AM

Joanne Kelley – Associated Press

PUBLISHED BY ‘THE EXAMINER’ (USA)

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PUBLISHED BY ‘THE EXAMINER’ (USA)

Posted in AGRICULTURE, BANKING SYSTEM - USA, BANKING SYSTEMS, BANKRUPTCIES - USA, BARACK HUSSEIN OBAMA -(DEC. 2008/JAN. 2009), COMMERCE, COMMODITIES MARKET, DOLLAR (USA), ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, FARMING DEBTS, FARMING SUBSIDIES, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, HOUSING CRISIS - USA, INDUSTRIAL PRODUCTION, INDUSTRIAL PRODUCTION - USA, INDUSTRIES, INDUSTRIES - USA, RECESSION, RESTRUCTURING OF PRIVATE COMPANIES, THE FLOW OF INVESTMENTS, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, THE PRESIDENCY - USA, USA | Leave a Comment »

GILANI ORDERS IMMEDIATE RELEASE OF AGRICULTURE FUNDS (Pakistan)

Posted by Gilmour Poincaree on January 8, 2009

Wednesday, 07 Jan, 2009 – 02:54 AM PST

by Iftikhar A. Khan

PUBLISHED BY ‘DAWN’ (Pakistan)

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PUBLISHED BY ‘DAWN’ (Pakistan)

Posted in AGRICULTURE, BANKING SYSTEMS, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, FARMING SUBSIDIES, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FOOD INDUSTRIES, FOOD PRODUCTION (human), INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, PAKISTAN, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, THE FLOW OF INVESTMENTS | Leave a Comment »

ANGARA EYES PROVISION OF 1 MILLION JOBS IN 2009 THRU RURAL PROGRAM (Philippines)

Posted by Gilmour Poincaree on January 3, 2009

01/03/2009

The Daily Tribune

PUBLISHED BY ‘THE DAILY TRIBUNE’ (Philippines)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE DAILY TRIBUNE’ (Philippines)

Posted in AGRICULTURE, BANKING SYSTEMS, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, EMPLOYMENT, FARMING SUBSIDIES, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FOOD PRODUCTION (human), INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, MACROECONOMY, NATIONAL WORK FORCES, PHILIPPINES, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF PRIVATE COMPANIES, THE FLOW OF INVESTMENTS, THE WORK MARKET, THE WORKERS | Leave a Comment »

D.A. PUSHES SWIFT PASSAGE OF AGRI-FRIENDLY BILLS (Philippines)

Posted by Gilmour Poincaree on January 3, 2009

01/03/2009

The Daily Tribune

PUBLISHED BY ‘THE DAILY TRIBUNE’ (Philippines)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE DAILY TRIBUNE’ (Philippines)

Posted in AGRICULTURE, BANKING SYSTEMS, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, FARMING SUBSIDIES, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FISHERIES, FOOD PRODUCTION (human), FRUITS AND FRESH VEGETABLES, GRAINS, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, MEAT, PHILIPPINES, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, THE FLOW OF INVESTMENTS | Leave a Comment »

D.A. TO STRENGTHEN NATIONAL VEGETABLE PROGRAM (Philippines)

Posted by Gilmour Poincaree on January 3, 2009

January 03, 2009 06:04 PM Saturday

by Cory Martinez

PUBLISHED BY ‘THE JOURNAL ONLINE’ (Philippines)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE JOURNAL ONLINE’ (Philippines)

Posted in AGRICULTURE, BANKING SYSTEMS, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, FARMING SUBSIDIES, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FOOD INDUSTRIES, FOOD PRODUCTION (human), FRUITS AND FRESH VEGETABLES, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, MACROECONOMY, PHILIPPINES, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, THE FLOW OF INVESTMENTS | Leave a Comment »

PROBE FESHAN FOR TAX DODGE, GORDON URGES (Philippines)

Posted by Gilmour Poincaree on January 3, 2009

January 03, 2009 05:42 PM Saturday

by Bernadette E.Tamayo

PUBLISHED BY ‘THE JOURNAL ONLINE’ (Philippines)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE JOURNAL ONLINE’ (Philippines)

Posted in AGRICULTURE, BANKING SYSTEMS, COMMERCE, COMMODITIES MARKET, CORRUPTION, ECONOMIC CONJUNCTURE, ECONOMY, FARMING SUBSIDIES, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SCAMS, FINANCIAL SERVICES INDUSTRIES, FRAUD, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, MONEY LAUDERING, PHILIPPINES, RECESSION, TAX EVADING | Leave a Comment »

DA TO STRENGTHEN NATIONAL VEGETABLE PROGRAM (Philippines)

Posted by Gilmour Poincaree on January 3, 2009

January 03, 2009 06:04 PM Saturday

by Cory Martinez

PUBLISHED BY ‘THE JOURNAL ONLINE’ (Philippines)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE JOURNAL ONLINE’ (Philippines)

Posted in AGRICULTURE, BANKING SYSTEMS, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, FARMING SUBSIDIES, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FOOD PRODUCTION (human), FRUITS AND FRESH VEGETABLES, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, PHILIPPINES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, THE FLOW OF INVESTMENTS | Leave a Comment »

THAI LEADER PROPOSES $8.7 BLN STIMULUS PACKAGE

Posted by Gilmour Poincaree on December 27, 2008

Dec 26, 5:57 AM EST

Associated Press

PUBLISHED BY ‘THE TOLEDO BLADE’ (USA)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE TOLEDO BLADE’ (USA)

Posted in AGRICULTURE, BANKING SYSTEMS, CENTRAL BANKS, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, FARMING SUBSIDIES, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, INTERNATIONAL, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, THAILAND, THE FLOW OF INVESTMENTS | Leave a Comment »

WISDOM SERIES: EDWARD SONSHINE WOULD SPEED UP INFRASTRUCTURE SPENDING

Posted by Gilmour Poincaree on December 27, 2008

Wednesday, December 24, 2008

Garry Marr – The Financial Post

PUBLISHED BY ‘THE FINANCIAL POST’ (Canada)

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PUBLISHED BY ‘THE FINANCIAL POST’ (Canada)

Posted in AGRICULTURE, AUTOMOTIVE INDUSTRY, BANKING SYSTEM - USA, BANKRUPTCIES - USA, BARACK HUSSEIN OBAMA -(DEC. 2008/JAN. 2009), CENTRAL BANKS, COMMERCE, COMMODITIES MARKET, CONSTRUCTION INDUSTRIES, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, ENERGY, ENERGY INDUSTRIES, FARMING SUBSIDIES, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FOREIGN POLICIES, FOREIGN WORK FORCE - LEGAL, HOUSING CRISIS - USA, INDUSTRIAL PRODUCTION - USA, INDUSTRIES - USA, INTERNATIONAL, INTERNATIONAL RELATIONS, MACROECONOMY, NATIONAL DEBT - USA, NATIONAL WORK FORCES, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, STATE TARIFFS, STOCK MARKETS, THE FLOW OF INVESTMENTS, THE ISRAELI-PALESTINIAN STRUGGLE, THE OCCUPATION WAR IN IRAQ, THE WORK MARKET, THE WORKERS, TRADE DEFICIT - USA, USA, WAR IN AFGHANISTAN, WARS AND ARMED CONFLICTS | Leave a Comment »

AGRICULTORES DE PETROLINA RECEBERÃO CRÉDITO RURAL (BRAZIL)

Posted by Gilmour Poincaree on December 26, 2008

25.12.2008 – 20h06

por Roseanne Albuquerque – Rádio Jornal/ Petrolina

PUBLISHED BY ‘JORNAL DO COMMÉRCIO’ (Brazil)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘JORNAL DO COMMÉRCIO’ (Brazil)

Posted in AGRICULTURA, AGRICULTURE, BA, BRASIL, CIDADES, ECONOMIA - BRASIL, ECONOMIC CONJUNCTURE, ECONOMY, EXPANSÃO AGRÍCOLA, FARMING SUBSIDIES, FINANCIAL CRISIS 2008/2009, FLUXO DE CAPITAIS, INTERNATIONAL, MINISTÉRIO DA AGRICULTURA, PECUÁRIA E ABASTECIMENTO, O PODER EXECUTIVO FEDERAL, O SISTEMA BANCÁRIO - BRASIL, PROGRAMA DE ACELERAÇÃO DO CRESCIMENTO (PAC), RECESSION, THE FLOW OF INVESTMENTS | Leave a Comment »

BRASIL E UE DEVEM ATUAR JUNTOS EM CÚPULA DO G20 (Brazil)

Posted by Gilmour Poincaree on December 23, 2008

22/12/2008 – 18:01

Da FolhaNews

PUBLISHED BY ‘CORREIO BRAZILIENSE’ (Brasil)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘CORREIO BRAZILIENSE’ (Brasil)

Posted in AGRICULTURE, BRASIL, COMMERCIAL PROTECTIONISM, ECONOMIA - BRASIL, ECONOMIC CONJUNCTURE, ECONOMY, EUROPE, FARMING SUBSIDIES, FINANCIAL CRISIS 2008/2009, FOREIGN POLICIES, G20, INTERNATIONAL, INTERNATIONAL RELATIONS, POLÍTICA EXTERNA - BRASIL, RECESSION, RELAÇÕES COMERCIAIS INTERNACIONAIS - BRASIL, RELAÇÕES DIPLOMÁTICAS - BRASIL, RELAÇÕES INTERNACIONAIS - BRASIL | Leave a Comment »

BRASIL AUMENTA SUBSÍDIOS PARA A AGRICULTURA (Brazil)

Posted by Gilmour Poincaree on December 21, 2008

19 de dezembro de 2008 – 14:45h

Agrolink

PUBLISHED BY ‘SÓ NOTÍCIAS’ (MT – Brazil)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘SÓ NOTÍCIAS’ (MT – Brazil)

Posted in AGRICULTURA, AGRICULTURE, BRASIL, COMMODITIES MARKET, ECONOMIA - BRASIL, ECONOMIC CONJUNCTURE, ECONOMY, EXPANSÃO AGRÍCOLA, EXPANSÃO ECONÔMICA, FARMING SUBSIDIES, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FLUXO DE CAPITAIS, INTERNATIONAL, MINISTÉRIO DA AGRICULTURA, PECUÁRIA E ABASTECIMENTO, O PODER EXECUTIVO FEDERAL, ORGANIZATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT (OECD), RECESSION, THE FLOW OF INVESTMENTS, WORLD TRADE ORGANIZATION | Leave a Comment »

U.S. BUSINESS JUST SHUTTING DOWN – EXPERT

Posted by Gilmour Poincaree on December 15, 2008

4:00AM Monday Dec 15, 2008

Associated Press

PUBLISHED BY ‘THE NEW ZEALAND HERALD’

WASHINGTON – Signs that the US recession will be long and severe mounted with a fresh round of bad economic news, including plunging sales from manufacturers to stores and falling prices that raise fears of dangerous deflation.

The widening economic troubles did put a lid on inflation. But they raised concerns about the opposite threat – the potential for a bout of deflation that could drag down incomes, clobber home prices even more and shrink corporate profits.

“Everything is going wrong in the fourth quarter,” said Mark Zandi, chief economist at Moody’s Economy.com. “We have collapses in consumer spending, housing and now investment. Business is just shutting down.”

The new batch of data Friday showed retail sales fell by 1.8 per cent in November, marking a record fifth straight monthly decline.

The weakness was led by another sharp drop in auto sales – the worst sales month for automakers in 26 years. After an auto bailout collapsed in Congress on Thursday night, the White House offered a partial reprieve on Friday for the Detroit Three, pledging temporary help to avoid a “disorderly bankruptcy” for one or more of them.

Treasury Department officials were discussing with the automakers what form that support would take. That gave Wall Street a lift, with the Dow Jones industrials rising about 65 points to close just under 8630.

The stock market has shown signs of settling down the past two weeks. While there’s still volatility, the terrifying lurches of several hundred points at a time have become rarer.

The Dow has closed between 8000 and 9000 for 15 trading sessions in a row.

And on two of the last three days, it has moved only double digits for the day, the first time that has happened since Lehman Brothers went bust in mid-September.

A second report from the Commerce Department showed that all stages of production – manufacturing, wholesale and retail – suffered a record drop in sales in October, the month the financial crisis hit with force.

Businesses trimmed their total inventories by the biggest amount in five years, which probably means more cuts in production and layoffs in the months ahead.

And a Labour Department report showed wholesale prices dropped 2.2 per cent in November, the fourth consecutive monthly decline. They had fallen 2.8 per cent in October, a record.

Wholesale prices have not fallen for such an extended stretch since the period between October 2001 and January 2002, when the country was struggling to emerge from the last recession.

The severity of the current recession, already the longest in a quarter-century, was raising the risk of a period of deflation for the first time in the United States since the Great Depression of the 1930s.

While falling prices for fuel and other products mean people have more to spend on other items, a prolonged stretch of price declines can escalate into falling wages as businesses are forced to slash production costs to compete for sales.

Economists say the threat of deflation is remote but the risks are increasing as the downturn worsens, especially with Wall Street in upheaval and businesses and people having trouble getting loans.

“People are just scared at the moment with the financial markets locked up,” said David Wyss, chief economist at Standard & Poor’s in New York.

Wyss and other economists expect the Federal Reserve not only to cut rates sharply at the conclusion of its two-day meeting Tuesday, but also to signal other novel approaches it may employ to get credit into the system.

The Fed’s target for the federal funds rate, the interest that banks charge each other, is already at 1 per cent, tying the lowest level of the past 50 years.

The 1.8 per cent fall in retail sales in November was concentrated in bad results for automakers and a plunge in sales at petrol stations because of cheaper petrol.

Other businesses, such as department stores, posted modest sales increases.

But economists caution against reading too much into those gains, contending that the weak economy and continued layoffs will likely make this the weakest holiday shopping season for stores since the 1981-82 recession.

All the economy’s woes are expected to show up in a steep drop in overall activity during the current October-December quarter.

Some economists said the gross domestic product could fall by 5 per cent or more in the fourth quarter and keep falling next year.

Wyss said he expects the recession to end in June.

That would mean it had lasted for 18 months, which would be the longest downturn since World War II.

The current record is 16 months. Both the 1981-82 recession and the 1973-75 slump lasted that long.

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PUBLISHED BY ‘THE NEW ZEALAND HERALD’

Posted in AGRICULTURE, BANKING SYSTEM - USA, BANKRUPTCIES - USA, COMMERCE, COMMODITIES MARKET, CONSUMERS AND PSYCHOLOGICAL FACTORS, DEFLATION, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, FARMING SUBSIDIES, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FOREIGN POLICIES - USA, FOREIGN WORK FORCE - LEGAL, GRAINS, HOUSING CRISIS - USA, INDUSTRIAL PRODUCTION - USA, INDUSTRIES - USA, MACROECONOMY, NATIONAL WORK FORCES, PETROL, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, STOCK MARKETS, THE FLOW OF INVESTMENTS, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, THE WORK MARKET, THE WORKERS, USA | Leave a Comment »

FOR FOOD AND JUSTICE PLANS – RP to borrow $500M from ADB (Philippines)

Posted by Gilmour Poincaree on December 10, 2008

First Posted 20:54:00 12/09/2008

by Joel Guinto – INQUIRER.net

PUBLISHED BY ‘THE PHILIPPINE DAILY INQUIRER’

MANILA, Philippines – The National Economic Development Authority (NEDA) has approved two loan packages worth $500 million for a food crisis response plan and government’s justice reform program.

The projects were presented to President Gloria Macapagal-Arroyo during a full Cabinet meeting in Malacañang Tuesday, Press Secretary Jesus Dureza told reporters.

“These are meant to provide interventional assistance to the poor and the vulnerable,” he said.

The government will borrow $300 million from the Asian Development Bank (ADB) for the Governance in Justice Reform Program (GJRP), which aims to increase the resources of the justice sector to enable efficient delivery of its services, especially to the poor, according to a Palace statement.

The loan has a maturity period of 15 years, inclusive of a three-year grace period, it said.

Manila will also borrow $200 million from the International bank of Reconstruction and Development for Food Crisis Response, which will be used to lower and stabilize food prices in the short term, mitigate the impact of high food prices on poor households, and improve the delivery of social services, especially to poor households, it said.

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PUBLISHED BY ‘THE PHILIPPINE DAILY INQUIRER’

Posted in AGRICULTURE, BANKING SYSTEMS, CENTRAL BANKS, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, FARMING SUBSIDIES, FINANCIAL CRISIS 2008/2009, FOOD INDUSTRIES, FOOD PRODUCTION (human), INTERNATIONAL, NATIONAL WORK FORCES, PHILIPPINES, RECESSION, THE WORKERS | Leave a Comment »

EURO-ZONE’S TOP CENTRAL BANKER SAYS ECONOMY WOULD HAVE SLOWED WITHOUT FINANCIAL CRISIS

Posted by Gilmour Poincaree on December 9, 2008

Last update: December 8, 2008 – 10:58 AM

by Aoife White – Associated Press

PUBLISHED BY ‘THE STAR TRIBUNE’ (USA)

BRUSSELS, Belgium – Don’t blame the financial crisis for the current economic downturn, says the euro-zone’s top central banker.

European Central Bank President Jean-Claude Trichet said Monday the slowdown was inevitable after high growth in recent years and a spike in oil prices that sent inflation soaring and braked business activity and household spending.

“Even without the financial crisis we would have had a slowing down in the economy after long years of very active growth at the global level and after the oil shocks that we had to cope with,” Trichet told the European Parliament’s economy committee in Brussels.

“That had a very powerful depressive effect on every economy in the world,” he said.

Oil prices hit a new record of $147 a barrel in July as demand for energy grew rapidly in emerging economies such as China and Brazil while suppliers remained tight. Prices have since sunk by two-thirds to hit a four-year low of $40.50 on Friday on worries of a world downturn.

The United States entered a recession last December, joined by the 15 nations that use the euro in the second quarter. Job losses are mounting and will likely rise further in coming months.

Trichet acknowledged that “exceptional tensions in the financial sphere” that froze bank lending had worsened the downturn.

He said the euro-zone central bank expects the global economy and “very sluggish” household demand to remain weak in the next few quarters — warning that a fragile recovery could be damaged by worse financial turmoil, protectionism and sudden changes to global account deficits.

He called on European governments to move fast to restore confidence in the banking sector by pushing forward with banking rescue plans that should ease lending. France said Monday it would start a recapitalization program within days after it won EU approval to give out large subsidies to banks.

Trichet did not give any hint of a future interest rate cut that would bring euro borrowing costs below the current 2.5 percent. The ECB reduced rates from 3.25 percent last week as falling inflation gave it more room to stoke growth in a slowing economy.

Economists speculate that the ECB may cut rates again in January to 2 percent. That would match current rates charged by the Bank of England and Sweden’s Riksbank.

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PUBLISHED BY ‘THE STAR TRIBUNE’ (USA)

Posted in BANKING SYSTEM - USA, BANKING SYSTEMS, BRASIL, CENTRAL BANKS, CHINA, COMMERCIAL PROTECTIONISM, DEPRESSION, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, EUROPE, FARMING SUBSIDIES, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INTERNATIONAL, MACROECONOMY, RECESSION, STOCK MARKETS, THE EUROPEAN UNION, THE FLOW OF INVESTMENTS, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, USA | Leave a Comment »

PROTECTIONISM REARS ITS HEAD AS WTO TRIES TO WRAP UP DOHA – CONGRESSMEN TELL BUSH TO REJECT TABLED TRADE DEAL – SUMMIT TO END SEVEN YEARS OF TALKS PUT IN DOUBT

Posted by Gilmour Poincaree on December 5, 2008

Thursday December 4 2008

by Larry Elliott, Economics Editor – The Guardian

PUBLISHED BY ‘THE GUARDIAN’ (UK)

A sign that the current crisis is fanning a desire for protectionism emerged yesterday when members of Congress warned George Bush against trying to fast-track a trade deal for the end of the year.

Pascal Lamy, director general of the World Trade Organisation, is considering calling trade ministers to Geneva to conclude the Doha liberalisation talks.

“Unfortunately, the negotiating texts currently on the table would provide little if any new market access for US goods, and important advanced developing countries are demanding even further concessions from the US,” said a bipartisan letter from Charles Rangel, Max Baucus, Jim McCrery and Charles Grassley. Democrats Rangel and Baucus chair the Ways and Means and the Finance committees respectively, while McCrery and Grassley are the ranking Republican members.

“We see no tangible progress, and in fact believe that some of our trading partners have become even further entrenched in their unacceptable positions.”

Lamy wants to bring more than seven years of acrimonious talks to an end with a meeting next weekend, after last month’s summit of G20 leaders in Washington instructed trade ministers to settle differences over agriculture and manufactured goods. Some officials believe it would become more difficult to conclude any deal once Barack Obama is sworn in next month.

WTO sources last night talked of a meeting on December 13, although Lamy was more cautious. In a fax to the WTO’s 153 members, he said he had yet to decide whether there had been enough progress since talks broke down in July: “As we all know, we still have a number of outstanding issues. But the reality is the relevance of what we are doing to the financial crisis,” he said. “If we fail we have a problem; but although there remains the risk of failure, the risks involved in not trying are higher.”

He is concerned that economic distress in the US, Europe and Asia is already prompting countries to use protectionist weapons yet to be outlawed by the WTO – raising tariffs to the maximum permitted, and introducing anti-dumping regulations.

US agriculture secretary Ed Schafer said he was confident a deal could be done, and confirmed that Washington was ready to make a big cut in its agreed ceiling for agriculture subsidies if other countries opened their markets further to US farm produce. “We in the US remain confident we can see a successful completion to the Doha round this year,” he told reporters in Beijing.

However, the Congressmen warned Bush against being rushed into a deal that would be rejected on Capitol Hill. “We strongly urge you not to allow the calendar to drive the negotiations through efforts to hastily schedule a ministerial meeting, without adequate groundwork having been laid.

“Developed and advanced developing countries must commit to provide meaningful new market access opportunities if Congress is to support a deal.’

“Achieving the necessary flexibility from our trading partners could require new thinking … and our negotiators should be given time to explore such options. Otherwise, the likely result will be a deal that Congress cannot support – an outcome that would be detrimental to US farmers, workers and firms, the global economy, and the WTO itself.”

Amy Barry, trade spokeswoman for Oxfam, said: “This round of talks was meant to be primarily about development, not about market access for US farmers and companies. Yet Oxfam is hearing that the US, with tacit support from the European Union, Australia and others, has now put extra demands on the table, mostly about further prising open the markets of major emerging economies.

“These come as China has seen a major fall in its exports, leading to many enterprises closing and huge numbers laid off to go back onto the land … India has lost 20% of its exports in a year, with 1.2m job losses in textiles and clothing alone … It is difficult to understand why anyone would seriously expect China and India to agree to yet more trade concessions.”

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PUBLISHED BY ‘THE GUARDIAN’ (UK)

Posted in 'DOHA TALKS', AGRICULTURE, CHINA, COMMERCE, COMMERCIAL PROTECTIONISM, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, EUROPE, FARMING SUBSIDIES, FINANCIAL CRISIS 2008/2009, FOREIGN POLICIES, G20, G8, INDIA, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, INTERNATIONAL RELATIONS, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, THE EUROPEAN UNION, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, USA, WORLD TRADE ORGANIZATION | 1 Comment »

QATAR LOOKS TO GROW FOOD IN KENYA -THE GULF STATE HAS JOINED A GROWING LIST OF RICH COUNTRIES THAT WANT TO GROW FOOD IN POOR COUNTRIES

Posted by Gilmour Poincaree on December 5, 2008

Tuesday December 2 2008 16.58 GMT

Xan Rice in Nairobi – guardian.co.uk

PUBLISHED BY ‘THE GUARDIAN’ (UK)

Qatar has asked Kenya to lease it 40,000 hectares of land to grow crops as part of a proposed package that would also see the Gulf state fund a new £2.4bn port on the popular tourist island of Lamu off the east African country.

The deal is the latest example of wealthy countries and companies trying to secure food supplies from the developing world.

Other Gulf states, including Saudi Arabia and the United Arab Emirates, have also been negotiating leases of large tracts of farmland in countries such as Sudan and Senegal since the global food shortages and price rises earlier this year.

The Kenyan president, Mwai Kibaki, returned from a visit to Qatar on Monday. His spokesman said the request for land in the Tana river delta, south of Lamu, in north-east Kenya was being seriously considered.

“Nothing comes for free,” said Isaiah Kabira. “If you want people to invest in your country then you have to make concessions.”

But the deal is likely to cause concern in Kenya where fertile land is unequally distributed. Several prominent political families own huge tracts of farmland, while millions of people live in densely packed slums.

The country is also experiencing a food crisis, with the government forced to introduce subsidies and price controls on maize this week after poor production and planning caused the price of the staple “ugali” flour to double in less than a year.

Kibaki said that Qatari Emir Sheikh Hamad bin Khalifa al-Thani was keen to invest in a second port to complement Mombasa, which serves as a gateway for goods bound for Uganda and Rwanda and is struggling to cope with the large volumes of cargo.

By building docks in Lamu, Kenya hopes to open a new trade corridor that will give landlocked Ethiopia and the autonomous region of Southern Sudan access to the Indian Ocean. Kabira said that if the financing was agreed, construction of the port would begin in 2010.

Qatar, which has large oil and gas revenues, imports most of its food, as most of its land is barren desert and just 1% is suitable for arable farming. It has already reportedly struck deals this year to grow rice in Cambodia, maize and wheat in Sudan and vegetables in Vietnam.

Much of the produce will be exported to the Gulf. Qatar’s foreign ministry in Doha did not return calls today, but Kabira said that its intention was to grow “vegetables and fruit” in Kenya.

The area proposed for the farming project is near the Tana river delta where the Kenyan government owns nearly 500,000 hectares (1.3m acres) of uncultivated land.

But a separate agreement to allow a local company to grow sugarcane and build a factory in the area has attracted fierce opposition from environmentalists who say a pristine ecosystem of mangrove swamps, savannah and forests will be destroyed.

Pastoralists, who regard the land as communal and rear up to 60,000 cattle to graze in the delta each dry season, are also opposed to the plan.

“We will have to ensure that this new project is properly explained to the people before it can go ahead,” said Kabira.

The sudden rush by foreign governments and companies to secure food supplies in Africa has some experts worried. Jacques Diouf, director general of the UN’s food and agricultural organisation (FAO), recently spoke of the risk of a “neo-colonial” agricultural system emerging.

The FAO said some of the first overseas projects by Gulf companies in Sudan, where more than 5 million people receive international food aid, showed limited local benefits, with much of the specialist labour and farming inputs imported.

A deal struck last month by Daewoo Logistics and Madagascar to grow crops on 1.3m hectares of land also attracted strong criticism. While the South Korean firm has promised to provide local jobs and will have to invest in building roads and farming infrastructure, it is paying no upfront fee and has a 99-year lease.

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Posted in 'DOHA TALKS', AGRICULTURE, BANKING SYSTEMS, COMMERCE, COMMODITIES MARKET, CONSTRUCTION INDUSTRIES, ECONOMIC CONJUNCTURE, ECONOMY, ENVIRONMENT, FARMING SUBSIDIES, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FOOD PRODUCTION (human), FOREIGN POLICIES, FRUITS AND FRESH VEGETABLES, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, INTERNATIONAL RELATIONS, KENYA, MACROECONOMY, NATIONAL WORK FORCES, QATAR, REGULATIONS AND BUSINESS TRANSPARENCY, ROAD TRANSPORT, SOUTH KOREA, THE ARABIAN PENINSULA, THE FLOW OF INVESTMENTS, THE UNITED NATIONS, THE WORK MARKET, THE WORKERS, TRANSPORT INDUSTRIES, WATER | Leave a Comment »

PUXEU CREE QUE SOBRE LOS PREACUERDOS DE JULIO DE LA OMC PODRÍAN CERRARSE ESTE MES – El secretario de Estado de Medio Rural y Agua, Josep Puxeu, ha señalado hoy que tras el mandato del G-20 de reabrir las negociaciones de la Ronda de Doha de la Organización Mundial del Comercio, si se parte de los preacuerdos de julio podría cerrarse un acuerdo antes de que acabe el mes (Spain)

Posted by Gilmour Poincaree on December 3, 2008


03/12/2008

PUBLISHED BY ‘AGROINFORMACION’ (Spain)

EFE- Durante la inauguración de las Jornadas Internacionales sobre gestión de riesgos en la agricultura europea, que celebra hoy y mañana la organización agraria UPA en Madrid, Puxeu ha destacado que la Unión Europea está en condiciones de afrontar nuevamente la Ronda de Doha, que se reúne a partir del 15 de diciembre en Ginebra.

Ha añadido que ahora que está cerrado el chequeo médico de la Política Agraria Común que define y legitima los apoyos al sector agroalimentario comunitario y se ha obtenido la apuesta clara de la Comisión Europea, respaldada por 24 Estados miembros, de mantener una PAC fuerte más allá del horizonte presupuestario de 2013, la UE afronta con fortaleza las negociaciones de la OMC.

Ha indicado que ya en julio la UE estuvo cerca de cerrar el acuerdo adaptando los apoyos a la agricultura con la liberalización comercial que permitiera el desarrollo de los países emergentes y que siempre que se parta de los preacuerdos alcanzados en julio la predisposición de la UE se mantendrá, en caso contrario se reafirmará en sus premisas.

Puxeu considera que toda vez que la OMC respete los apoyos a la calidad diferenciada, a la seguridad alimentaria, la condicionalidad y el desarrollo rural queda legitimada la PAC y con ello un marco estable de apoyos al sector.

Además ha destacado el importante papel del sistema español de seguros agrarios como apoyo y garantía de las rentas de los agricultores y ganaderos y ha anunciado que se estudiará la petición del sector de incluir líneas que garanticen unos ingresos que cubran los costes de producción o unas rentas mínimas.

En este sentido el secretario general de UPA, Lorenzo Ramos, ha valorado el reconocimiento que de los seguros agrarios subvencionados ha hecho la UE en la reforma de la PAC.

Ha destacado la necesidad de que los agricultores y ganaderos se conciencien de que este mecanismo es una forma de garantizar sus rentas, de momento sólo ante eventualidades climáticas o sanitarias.

Ha demandado a la Administración que estudie la posibilidad de introducir además líneas que cubran a los productores de riesgos derivados de los vaivenes del mercado, como los vividos el pasado año en sectores como el lácteo o el de las materias primas, para poder garantizar unas rentas.

Ha insistido en que ya en su momento se estudió la posibilidad de adoptar un seguro que garantizase unos ingresos que cubrieran los costes de producción y no fue posible, por lo que ha reiterado esfuerzos a la Administración para posibilitar su implantación.

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Posted in 'DOHA TALKS', AGRICULTURE, COMMERCE, COMMODITIES MARKET, ECONOMY, FARMING SUBSIDIES, FOREIGN POLICIES, G20, INTERNATIONAL, INTERNATIONAL RELATIONS, REGULATIONS AND BUSINESS TRANSPARENCY, SPAIN, THE EUROPEAN UNION, WORLD TRADE ORGANIZATION | Leave a Comment »

USDA: MORE ACRES TO CORN IN 2009 (USA)

Posted by Gilmour Poincaree on December 3, 2008

Published Wednesday – December 3, 2008

BLOOMBERG NEWS

PUBLISHED BY ‘THE OMAHA WORLD-HERALD’ (USA)

Farmers will increase corn planting by 4.8 percent to about 90 million acres next year as demand rises and lower costs make the grain more profitable, said Joe Glauber, the U.S. Department of Agriculture’s top economist.

“We’re going to go into next year tighter than we did this year,” Glauber said Tuesday at an agricultural conference in Washington.

Inventories are expected to drop 31 percent to 1.124 billion bushels by Aug. 31 of next year, he said.

He did not offer 2009 planting forecasts for other crops.

Corn futures in Chicago have fallen 56 percent from a record earlier this year. Soybeans are down 48 percent and wheat 61 percent from all-time highs. Global recession and larger crops have fueled the drop, which will keep prices next year lower than this year, Glauber said.

Rabobank Group analyst Luke Chandler said he expects slumping grain prices to rebound next year because of smaller world crops and economic stability that will boost demand for food, animal feed and biofuels.

His outlook for grains:

– Corn may rise to average $4.50 a bushel in the fourth quarter of 2009, compared with $3.80 this quarter.

– Soybeans may gain 13 percent to an average $10.20 a bushel in the fourth quarter next year from $9 this quarter.

– Wheat prices may rise 9.1 percent to an average of $6 a bushel in Chicago in the fourth quarter next year, compared with $5.50 in the current quarter.

“South American production and exports also appear under pressure with a combination of seasonal and financial influences expected to lower production expectations in coming months,” Chandler said in a report to clients. “Short-term price direction over the next six to 12 months will remain heavily influenced by the broader financial, currency and energy market situation.”

Smaller crops in Australia and Argentina should lead to a cyclical low early in the first quarter of 2009, he said.

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Posted in AGRICULTURE, ANIMAL FOOD, BIOFUELS, COMMERCE, COMMODITIES MARKET, CORN, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, ENERGY, ETHANOL, FARMING SUBSIDIES, FINANCIAL CRISIS - USA - 2008/2009, FOOD INDUSTRIES, FOOD PRODUCTION (human), INDUSTRIAL PRODUCTION, RECESSION, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, USA | Leave a Comment »

ALL STAKEHOLDERS BEING INVOLVED IN PLANNING: TARIN (Pakistan)

Posted by Gilmour Poincaree on December 3, 2008

December 03, 2008 Wednesday Zilhaj 4, 1429

PUBLISHED BY ‘DAWN’ (Pakistan)

By Our Staff Reporter

KARACHI, Dec Finance Adviser Shaukat Tarin 2: Finance Adviser Shaukat Tarin said on Tuesday that the government was operating on a modern concept of associating all stakeholders in planning and implementation and also a periodic review of how the plans were being implemented.

“Modern management concepts are being introduced in government,” the adviser said while inaugurating the 11th Management Association of Pakistan (MAP) Convention 2008 here.

He said the government faced a challenge of unprecedented nature and was almost in an “act or die” situation when it was voted into power.

“The government accepted the challenge and acted to overcome the crisis,” he informed the audience while recalling that the fiscal deficit at one time last fiscal year had touched almost 10 per cent level.

It ended at 7.5 per cent fiscal deficit and 8.4 per cent current account deficit.

He added that when the government took over, the world had come under impact of an unprecedented global financial crisis and Pakistan’s access to international finance market was also blocked.

The government took tough decisions of cutting down heavily on energy subsidies to contain expenditure budget and narrow down budgetary imbalance and reduce dependence on State Bank of Pakistan borrowing.

“The rupee-dollar parity had gone up from Rs62 to Rs84 and foreign exchange reserves had dropped down to a level where these were sufficient for hardly few weeks import when I took over as adviser,” he recalled.

“We went to International Monetary Fund with our home-grown strategy to stabilise the economy in the short- and long-term,” he said.

Mr Tarin raised a question before his audience as to why Pakistan confronts an economic crisis after every decade.

His own answer to this question was to prepare a long-term plan with consultation of stakeholders and then a periodical review.

It is in context of this concept, he said, the Planning Commission is being given a new shape by brining all stakeholders — intellectuals, all relevant government agencies and private sector — at one table to prepare a strategy.

He said the nine-point agenda on which the government was working was a consensus strategy. It would be reviewed quarterly by a body headed by the prime minister.

The nine-point agenda takes care of budgetary and current account imbalance, raising tax-to-GDP ratio to 15 per cent in next five years, provision of safety nets for the poor that include direct government intervention in the form of Benazir Income Support Programme, protecting budgetary allocations for education and health, promotion of productive sector agriculture and industry.

He said the trade and industry were fragmented and needed consolidation which was being taken up.

He blamed all previous governments of ignoring agriculture which has brought down its productive capacity.

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PUBLISHED BY ‘DAWN’ (Pakistan)

Posted in AGRICULTURE, BANKING SYSTEMS, CENTRAL BANKS, CURRENCIES, DOLLAR (USA), ECONOMIC CONJUNCTURE, ECONOMY, FARMING SUBSIDIES, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, IMF, INDUSTRIAL PRODUCTION, INDUSTRIAL SUBSIDIES, INDUSTRIES, INTERNATIONAL, PAKISTAN, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, STOCK MARKETS, THE FLOW OF INVESTMENTS | Leave a Comment »

ECC APPROVES GAS LOADSHEDDING (Pakistan)

Posted by Gilmour Poincaree on December 3, 2008

December 03, 2008 Wednesday Zilhaj 4, 1429

by Mubarak Zeb Khan

PUBLISHED BY ‘DAWN’ (Pakistan)

ISLAMABAD, Dec 2: The Economic Coordination Committee (ECC) of the cabinet approved on Tuesday a new schedule for load-management of natural gas for winter to overcome a possible shortfall.

The shortfall may exceed 500 million million cubic feet per day (mmcfd) in December and February and 600 mmcfd in January.

A meeting of the ECC, presided over by Adviser to Prime Minister on Finance and Revenue Shaukat Tarin, approved a summary prepared by the petroleum ministry aimed at maintaining uninterrupted supply of gas to domestic consumers, independent power producers and CNG stations for the transport sector.

Under the schedule, gas supply to the cement sector will be suspended from December to February and to the industrial sector it will be reduced by 50 per cent.

While fertiliser companies will carry out their annual maintenance, no gas will be provided to Wapda during the three months.

The schedule was finalised by a committee in consultation with the stakeholders.

The ECC asked the petroleum ministry to ensure uninterrupted supply of gas to domestic consumers. The burden of reduced supply will be shared by the power sector and industry.

On the recommendation of the ministry of water and power, the meeting approved a proposal to extend the tariff provisions of the 2002 power policy and the mechanism developed by Nepra to hydropower projects under the 1995 hydel policy with minimum changes in project agreements.

For increased availability of power, the ECC allowed rental power projects the same tax treatment as applicable to rental power projects under Wapda’s jurisdiction.

The meeting also approved a market intervention price of Rs1465 per 40kg for seed cotton during the 2008-09 season on the basis of current export parity price. The ministries of food and agriculture and commerce have been asked to work out an efficient procurement plan that benefits small farmers and keeps the price stable. The food and agriculture ministry has been asked to make timely announcement of the intervention price.

The ECC allowed procurement of 750,000 tons of additional wheat with better specifications and in a manner that domestic requirements were met satisfactorily and the wheat stock position remained adequate.

The ECC approved a credit guarantee scheme for small banks to help them maintain liquidity through availability of credit facilities from the State Bank. The scheme will be implemented by the SBP which will ensure its effective utilisation and sound operation of the banking system.

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Posted in AGRICULTURE, BANKING SYSTEMS, CENTRAL BANKS, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, FARMING SUBSIDIES, FERTILIZERS, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, NATURAL GAS, PAKISTAN, RECESSION, THE FLOW OF INVESTMENTS, WATER, WHEAT | Leave a Comment »

SPENDING ON AGRICULTURE UP 80 PERCENT: GOVERNMENT (India)

Posted by Gilmour Poincaree on November 28, 2008

28 Nov 2008, 1650 hrs IST, IANS

PUBLISHED BY ‘THE ECONOMIC TIMES’ (India)

CHANDIGARH: The government has invested around Rs.250 billion this year in agriculture sector, 80 INDIAN LABOURER - Getty Imagespercent higher than the total agricultural spending last year, and is also encouraging enhanced private participation in the sector, a senior official said Friday.

“This year the government’s investment in agriculture is 80 percent higher if we compare it with last year. It’s over Rs.25,000 crore (Rs.250 billion),” Agriculture Secretary T. Nanda Kumar, who is here to attend the Agro Tech-2008 fair, told reporters.

“Various food park schemes have been announced all over the country and we are targeting an overall growth of four percent in each segment related to agriculture here,” Nanda said.

The biennial four-day agro technology and business fair, ‘Agro Tech-2008’, opened here Friday with INDIAN BOY WORKING ON MUSTARD CROP - Getty Imagesthe theme ‘Enhancing Technology and Business in Agriculture’.

“Green revolution was a revolutionary development. Now we need to bring second green revolution, but that is not possible with traditional farming. Here private companies have to play a big role, and our farmers have to adopt new technologies and know-how,” Nanda said.

Nanda admitted that cotton and rice production per hectare in India is almost half of that in China.

“Over the last few years, gradually our yield has decreased due to our failure to adopt the changing trends. Nonetheless, with the present scenario and pace of development, I am sure that we will have INDIA - Mature wheat-headsrecord production,” he added.

The Agro Tech-2008 is spread over an area of 5,960 square metres with 204 stalls, and the authorities here are expecting over 15,000 farmers from states like Punjab, Haryana, Himachal Pradesh, Uttarakhand, Bihar, Tamil Nadu and Karnataka to visit the event.

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PUBLISHED BY ‘THE ECONOMIC TIMES’ (India)

Posted in AGRICULTURE, BANKING SYSTEMS, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, FARMING SUBSIDIES, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INDIA, INTERNATIONAL, THE FLOW OF INVESTMENTS | Leave a Comment »

FREE TRADE HURTS FARMERS, CLAIMS NFU PRESIDENT (Canada)

Posted by Gilmour Poincaree on November 23, 2008

Published: Friday, November 21, 2008

by Joanne Paulson, The StarPhoenix

Grain prices may have soared earlier this year, but the 20-year average income of the Canadian
family farmer remains at zero, the president of the National Farmers Union (NFU) said Thursday.

Farmers have generated two-thirds of a trillion dollars in gross income during that time and have kept none of it, said Stewart Wells in an address to the NFU convention at the Hilton Garden Inn.

“Farmers have been brought up to that zero mark due to taxpayers’ transfers,” Wells said later in an interview.

While grain prices were quite high during the spring and summer, other commodities including beef, pork and potatoes have been tanking for some time. Meanwhile, input costs have risen faster than commodity prices and as commodities have dropped off, input costs have not.

These problems have narrowed the window of economic viability, he said. Once, farmers had three or four years to harvest a crop that would get them out of the hole. Today, they’re lucky if they have one or two years, said Wells.

“We need a systemic Canadian-made policy that will allow family farms to grow high-quality, safe food for Canadians.”

Farmers have worked too hard to grow safe food for it to go into corporate production plants where it can be contaminated with listeriosis, said Wells.

Farming problems are not cyclical, but systemic, and began with the free trade agreements that began to fall into place in the late 1980s, he said. Between 1945 and 1985, farm income was relatively stable.

“Now we’ve fallen completely out of that channel,” said Wells.

Family farmers are not surprised by the erosion of the global economy. They saw it coming with the first free trade agreements of the late 1980s, which allowed for more lax regulations and food safety processes for trading partners.

Wells says he is not opposed to all free trade, but he said the agreements must enhance local economies rather than replace them.

CWB ELECTION UNDEMOCRATIC: WELLS

Wells also slammed the Harper government for what he says is an undemocratic approach to running – and trying to get rid of — the Canadian Wheat Board.

“Over the last three years, we’re seeing how thin this veneer of democracy really is,” said Wells.

In the upcoming CWB election, between 10,000 and 15,000 wheat board permit book holders will not be voting, Wells estimated. Under new election parameters, only permit book holders who delivered to the CWB in the last 15 months (or two crop years) were automatically placed on the voters list.

The changes were mandated by the Harper government and set out by Agriculture Minister Gerry Ritz and by Chuck Strahl before him.

The CWB election is managed by official election co-ordinator Meyers Norris Penny, but should be taken over by Elections Canada in the future, said Wells.

Asked how the voters list problem will affect the election – which pits single-desk advocates against open market candidates in many cases – Wells said, “we’ll never know.”

Wheat board directors are elected in five of 10 districts per election, which are two years apart, to maintain board continuity. The same election rules applied two years ago, said CWB spokesperson Maureen Fitzhenry.

Fitzhenry said the permit book holders were eligible, but just weren’t automatically on the list. An oversight with unclear wording on the voters application form did cause some problems, but the oversight was fixed, she said.

Non-permit book holders were also eligible to vote if they could prove they had grown one of the major six grains in the last two years.

“We’re very committed to running the election in the most neutral, balanced way so the process has integrity,” said Fitzhenry.

© The StarPhoenix (Saskatoon) 2008

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PUBLISHED BY ‘The Saskatoon StarPhoenix’ (Canada)

Posted in AGRICULTURE, CANADA, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, FARMING SUBSIDIES, GRAINS, INTERNATIONAL, THE WORK MARKET, WORLD TRADE ORGANIZATION | Leave a Comment »

MIRZA AZIZ TURNS DOWN WB’S PLEA TO CUT FARM SUBSIDY – The farmers will not be able to use adequate inputs like fertiliser if the agricultural subsidy is withdrawn (Bangladesh)

Posted by Gilmour Poincaree on November 16, 2008

Sunday November 16 2008 11:34:06 AM BDT

Finance and planning adviser Mirza Azizul Islam has turned down a donor agency suggestion to cut Newly appointed Advisor for Ministry of Finance, Planning, Commerce and Posts and Telecommunications Dr. A B Mirza Azizul Islam was born in Sujanagar, Pabna on 23 February 1941. He studied BA (Hons.) and MA in Economics from Dhaka University. He studied M A in Development Economics at Williams College, Masachusetts, USA in 1975. He also obtained Ph.D in Economics from Boston University, USAagricultural subsidy saying “it would be risky in the prevailing global situation”.( The Financial Express)

“I am afraid that’s not a feasible option unless we have the land reforms done,” he said at a launching session of the two-day South Asia regional conference on managing food price inflation in a city hotel Saturday.

“The farmers will not be able to use adequate inputs like fertiliser if the agricultural subsidy is withdrawn. It will bring down the production. The country’s food security will be affected,” Dr. Aziz said in response to a suggestion made by World Bank (WB) in the conference.

WB South Asia Regional Director Sadiq Ahmed said a country like Bangladesh should address food security concerns by focusing on farm productivity rather than through subsidised inputs.

“The saved subsidy could be redirected to areas that support farm productivity including spending on rural infrastructure, farm technology, research and extension,” Mr. Ahmed said.

The World Bank and local research firm Power and Participation Research Centre (PPRC) jointly organised the conference.

Economists, policymakers, bureaucrats, agriculture experts, and political leaders from six South-Asian THE MEANING OF SUBSIDIES IN THE DEVELOPED COUNTRIEScountries, and representatives from donor agencies spoke at the function, with economist Professor Wahiduddin Mahmud in the chair.

Mirza Aziz said: “We can think on the issue of diverting subsidy fund to develop the rural infrastructure. But it could be a long-term programme. At this moment, we can not take the risk of withdrawing subsidy from agriculture.”

About the food inflation, the finance adviser said: “Agricultural credit growth during the last financial year has lifted the retention capacity of the farmers. It has been affecting the domestic food price despite bumper boro production.”

He, however, said the government will encourage the growth of the agricultural credit in future days.

The adviser said food stock in the country is satisfactory as it now stood at over 1.4 million tonnes compared to 0.4 million tonnes that this government inherited.

Senior economists Prof. Mahmud said: “Adequate food stock does not mean that the price will come down in the market. I think the prices of rice and wheat will not decline to the level that prevailed a AUSTRALIA AND THE EUROPEAN SUBSIDIESyear ago.”

“In the open market economy there are some complexities. Prices of food grain are not down despite adequate supply.”

“The market price depends on the purchase price of stock by the businessmen. I think the businessmen stock-piled at high prices. For this reason, the food price in local market is still high,” he said.

Prof Mahmud suggested raising the employment opportunities and wages of poor people for establishing balance between food inflation and entitlement to foods.

“Apart from food inflation, another risk of global recession has emerged recently. So, the government will have to take prudent steps for future food security,” he said.

Former education minister Osman Farruk said: “The donors always press the government to withdraw agricultural subsidy. But it is an effective measure to improve the productivity of foodgrain and income SUBSIDIES IN THE DEVELOPED COUNTRIES - GETTING PAID FOR NOT DOING ANYTHINGtransfer to the rural poor farmers.”

Former Agriculture Minister MK Anwar said: “If we want to keep the farmers in the field, we need to ensure agriculture as a profitable venture.”

Awami League leader Abdur Razzak laid emphasis on adequate supply of agricultural inputs to the farmers in time and at reasonable prices.

The Financial Express

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Posted in AGRICULTURE, BANGLADESH, ECONOMIC CONJUNCTURE, ECONOMY, EUROPE, FARMING SUBSIDIES, INTERNATIONAL, THE FLOW OF INVESTMENTS, USA, WORLD BANK, WORLD TRADE ORGANIZATION | Leave a Comment »