WORLD CRISIS' WEEKLY WRAP-UP: (March 30 -- April 03)

WORLD CRISIS WEEKLY WRAP-UP!   

(Last Week.... March 30 -- April 03)

G-20 Background. 

What to expect from last week's Summit. The Markets behaved great, but the world economy is deteriorating very fast!

-----Is it possible that the worst of this crisis be over? Financial Markets have been mostly positive for the past 4 weeks, with the lower volatility index underlining all the optimism (see the story below please). I think however that the damage is done and a recovery is still very far from our global regulators  reach, notwithstanding the fiscal and monetary expansionary steps they have taken! -----What is your conclusion from last week's selected news (below)?

-----(UPDATE 1 OF 3)-----

• G-20: NEW WORLD ORDER?..LESSER ROLE FOR U.S., MARKETS?
• IMF: $I TRILLION FOR GLOBAL RESCUES! ...WOW!
• US WEEKLY JOBLESS UP TO HIGHEST SINCE 1982!
• CHINA MANUFACTURING EXPANDS!...WEIRD?
• EUROPE CUTS RATE...AND DISAPPOINTS!
• G-20: RÉGULATION DE LA FINANCE!
• UK HOUSE PRICES UP!...WEIRD?
• US MANUFACTURING SHRINKS AT SLOWER PACE!
• GLOBAL ECONOMIC SLIDE MAY BE SUBSIDING!...REALLY?
• OBAMA: BANKRUPTCY FOR GM, CHRYSLER...BEST OPTION!
• EUROPE MANUFACTURING DOWN, DOWN, DOWN!
• EUROPE UNEMPLOYMENT UP, UP, UP!
• ASIA ECONOMY DEEPENS AS JAPAN TANKAN TUMBLES!
• MONDE: RISQUE DE DÉFLATION!
• MEXICO PREPARED TO TAKE 40 B CREDIT LINE FROM IMF!...
• GERMAN UNEMPLOYMENT UP FOR 5TH MONTH!
• US FINANCIAL RESCUE APPROACHES ITS GDP LEVEL!...WH...
• RUSSIA TO CONTRACT 4.5% THIS YEAR!
• AUSTRALIA'S RECESSION THIS YEAR?
• JAPAN JOBLESS JUMPS TO 3-YEAR HIGH!
• IRELAND LOSSES RATING, JOINS SPAIN, PORTUGAL, GREECE EURO-ZONE DOWNGRADES!
• SOME US BANKS NEED "LARGE AMOUNTS" OF AID!
• G-20: ¿MERCADOS INOCENTES?
• THE DOLLAR IS HERE TO STAY!...YES!
• UNEMPLOYMENT: DOUBLE DIGIT NUMBERS LOOM!
• G20 IN LONDON FOR SUMMIT. WORLD RECESSION AND REFORMOF THE IMF.

• MEXICO 1st IN IMF OFFER OF A FLEXIBLE CREDIT LINE OF UP TO $47 BILLION (NO STRINGS ATTACHED). 
• IADB  AGREED TO INCREASE MORE CAPITAL TO EXPAND LENDING. IT CAN ONLY LEND $8 B A YEAR. 
• UNIVERSITY OF TORONTO SAID 1,300 GOV COMPUTERS IN 103 COUNTRIES WITH SPYWARE. CHINA TO BLAME. 
• HUNGARY’S SOCIALISTS PICKED GORDON BAJNAI, TO REPLACE FERENC GYURCSANY AS PRIME MINISTER.
• NETANYAHU ISRAEL’S PRIME MINISTER IN A COALITION.
• GM, CHRYSLER INADEQUATE PLANS. OBAMA: BANKRUPTCY BEST. GM GIVEN 60 DAYS.
• BARCLAYS DOES NOT NEED THE BRITISH ASSET-PROTECTION SCHEME.
• UK RESCUE OF DUNFERMLINE BUILDING SOCIETY, A SCOTTISH MUTUAL LENDER. 
• SPAIN $12 B RESCUED CAJA CASTILLA LA MANCHA. 1ST TO BE BAILED OUT IN 16 YEARS. MORE TO COME.
• SWISS RE, WORLD’S 2ND-BIGGEST REINSURER, TO CUT 10% OF ITS GLOBAL WORKFORCE.
• OECD GRIM OUTLOOK: 30 COUNTRIES'S GDP's  -4.3% THIS YEAR.US -4%, EURO AREA’S -4.1%, JAPAN’S -6.6%. 
• WORLD BANK UPDATED FORECAST FOR THE WORLD ECONOMY,TO SHRINK BY 1.7% IN 2009.
• HOUSING OK?: US PENDING HOME-SALES +2.1% IN FEB (MTHLY). UK HOUSE PRICES + 0.9% MARCH $217,000. 
• MIXED JAPAN. TANKAN LARGE MANUFACTURERS SENTIMENT -58, LOWEST IN HISTORY SINCE 1974. 
• US FED BOUGHT $6 B OF 3 TO 4 YEAR TREASURIES ON APRIL 1ST.PART OF PLANS TO BUY OVER $300 B TO LOWER RATES.
• SK EXPORTS -21.2% IN MARCH Y-ON-Y. TO CHINA, MAIN MARKET, -17.2%, 20 DAYS OF MARCH.IMPORTS -36%.
• BRAZIL’S INDUSTRIAL OUTPUT PLUMMETS -17% LOWER IN FEB THAN A YEAR EARLIER.
• INDIA’S EXPORTS -21.7% Y-TO-FEB. IMPORTS -23%, TRADE DEFICIT NARROWED, TO $4.9 B.