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The diference between the austery measures and central banks pushing interest rates at 10% is that local comercial banks could be heathy and independente of the BCE.
I believe that USA to renovate his economy will be with higth taxes not with austerity. I believe that austerity have the same effect on the economy that high interest rates the diference is that comercial banks have more liquidity and avoid evasion of Money to others places, and could bring foreign Money to the economy.
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Maybe this two indicators parity euro/dólar and china low growth not affect the biotech índex because the the drugs are always consumed in good times and bad times.
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social security system is the asset of developed country with more value, the end of a social security system will be the end of the country.
ATHENS (Reuters) - Greece's Prime Minister Alexis Tsipras had at one stage warned foreign creditors that Athens would not repay 750 million euros due to the IMF in May unless they provided it with immediate liquidity, the Kathimerini newspaper reported on Saturday.
Athens ultimately made the May 12 payment by emptying an International Monetary Fund holding account.
Citing European sources, the newspaper said Tsipras made the threat in a May 8 letter to EU Commission President Jean-Claude Juncker, IMF head Christine Lagarde and ECB President Mario Draghi.
The Greek government did not immediately respond to a request for comment.
In his letter, Tsipras said Greece was starved of domestic sources of liquidity as it has been meeting its domestic and foreign debt obligations despite not having received any aid under its 240 billion euro bailout since last August, the newspaper said.
To restore liquidity, Tsipras proposed the ECB raise Greece's treasury bill issuance ceiling; a partial disbursement of loan tranches worth 7.3 billion euros; the return of 1.9 billion euros in profits the ECB made by buying Greek bonds since 2010; and the return of 1.2 billion euros in the euro zone's bailout fund, the EFSF.
The letter was viewed as "possible bluff" and reinforced a climate of mistrust between the two sides, the newspaper said.
Greece's cash reserves are dwindling and negotiations between Tsipras's new left-led government and its lenders over a cash-for-reforms deal have been fraught with delays for months.
On Friday, Tsipras said the two sides had found some common ground, but the government would not back down.
The PIGS have high unemployment, aging population, low natality and a social security system that was created with low debt, the question is europe let bankrrupt the social security of the PIGS creating a european social security system or the PIGS each one must reform his social security system with reforms and more austerity, its the next crisis of the European Union.
JPM has been my worst play this year… I almost threw in the towel until I came across Ultimate Stock Alerts (you can find them in Google)
I believe that weak euro help the south economys like Italy. Portugal and Spain this tree countrys have markets to export his products and with weak ´they growth, meanwhile with strong euro Germany and other industrial zones buy low raw materials to cheap with a strong euro hand north of europe make growth the european economy.
SALT LAKE CITY--(BUSINESS WIRE)--
Security National Financial Corporation (SNFC) (SNFCA) announced financial results for the quarter ended March 31, 2015.
For the three months ended March 31, 2015, SNFC’s pre-tax earnings from operations increased 1,706% from $166,000 in 2014 to $2,998,000 in 2015, on a 42% increase in revenues to $64,049,000. After tax earnings increased 1,241% from $139,000 in 2014 to $1,864,000 in 2015.
Scott Quist, Chairman of the Board, President and Chief Executive Officer of the Company, said: “We are very pleased with the performance of our Company this past quarter. In our Life Insurance Segment, earnings improved 5.5% on a revenue improvement of 13.6%. First year premium growth remained strong through the first quarter, but death claims increased and investment results moderated in comparison to 2014.
In our Cemetery and Mortuary Segment, the management changes that have been implemented over the last 5 months have begun to bear fruit. EBITD increased from $461,000 (15% of net revenue) in 1st quarter 2014, to $627,000 (21% of net revenue) in 2015. This represents the best operating income for this segment for at least the past 10 years. The improvement resulted from an increased case count at our cemetery locations and better expense control in our sales efforts. Preneed sales volumes and mortuary results were essentially flat as compared to the prior year; thus we believe there is ample room for additional income growth.
Year-to-date Mortgage Segment income is significantly greater than last year, improving from a loss in 1st quarter 2014 to a profit of nearly $1.2 million in 2015. Significantly, our mortgage origination volume for the quarter increased 74% over the prior year. Further, in addition to benefitting from an industrywide increase in refinance volumes, the Mortgage Segment also experienced an increase in its core purchase-loan originations, where it focuses most its marketing efforts, of slightly over 22%.
The oil sector is not in recession but if go well payed workers could figth to maintain is standard of life