US deficit tops 1 trillion dollars 36 minutes ago
The US federal deficit topped one trillion US dollars for the first time ever and could grow to nearly two trillion by this autumn, intensifying fears about higher interest rates, inflation and the strength of the dollar. The deficit has been widened by the huge sum the government has spent to ease the recession, combined with a sharp decline in tax revenues. The cost of wars in Iraq and Afghanistan also is a major factor. The soaring deficit is making Chinese and other foreign buyers of US debt nervous, which could make them reluctant lenders down the road. It could also force the Treasury Department to pay higher interest rates to make US debt attractive longer-term. "These are mind-boggling numbers," said Sung Won Sohn, an economist at the Smith School of Business at California State University. "Our foreign investors from China and elsewhere are starting to have concerns about not only the value of the dollar but how safe their investments will be in the long run." The Treasury Department said that the deficit in June totalled 94.3 billion US dollars, pushing the total since the budget year started in October to 1.09 trillion US dollars. The administration forecasts that the deficit for the entire year will hit 1.84 trillion US dollars in October. Government spending is on the rise to address the worst financial crisis since the Great Depression and an unemployment rate that has climbed to 9.5%. Congress already approved a 700 billion US dollar financial bailout for banks, carmakers and other sectors, and a 787 billion US dollar economic stimulus package to try to jump-start a recovery. (Copyright C 2009 The Press Association. All rights reserved. ) So buy gold as an alternative currency and buy GOLD ETFs. You can also buy Quantum Gold Fund units from NSE. Regards, Millet Bobin Relationship Manager ____________________________________________________________________________ _______________ Are you keeping your money idle in your savings account? <http://www.quantumamc.com/liquidfund/21aug08_web.html> Click here for a better option Mutual Funds are subject to market risks. Please read the offer document carefully before investing. Click <http://www.quantumamc.com/legal/risk_allfunds.html> here for detailed risk factors ____________________________________________________________________________ ________ Quantum Asset Management Company Private Limited, Regent Chambers, #107, 1st floor, Nariman Point, Mumbai - 400 021, India Phone: +91-22-2283-0322 / 2287 5247; Fax: +91-22-2285-4318; Mobile: +91-98215 28887 Email: [email protected]; Website: <http://www.quantumamc.com/> http://www.quantumamc.com/ Call Toll Free: 1-800-22-3863 (FUND) | Experience | Consistency | Credibility | ____________________________________________________________________________ _______________ ____________________________________________________________________________ ______________________________________________________________ The content of this e-mail is exclusively intended for addressee(s) and information purposes. No legal consequences can be derived from the contents of this e-mail. Should you receive this message by mistake, you are hereby notified that any disclosure, reproduction, distribution or use of this message is strictly prohibited. The e-mail expresses views only of the sender and not of Quantum Asset Management Company Pvt Ltd, or its parent company or any of its subsidiaries or affiliates (collectively referred to as QAMC) Neither Sender nor QAMC accept any liability for any damage resulting from the use and/or acceptation of the content of this e-mail. Always scan attachments before opening them. _____ --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en -~----------~----~----~----~------~----~------~--~---
