More News, Rumors and Opinions Thursday Night 5-25-2023
KTFA:
Clare: Al-Halbousi: Next Saturday is the date for voting on the budget
5/25/2023
Parliament Speaker Muhammad al-Halbousi announced that next Saturday will be the date for approving the federal budget.
Al-Halbousi told the parliament's media department, "The budget is in its final touches, and the Finance Committee is ready to hand over the budget today, Thursday, to Parliament."
He pointed out, "The budget law is important and includes many investment projects that will reflect positively on the service reality."
He continued, "The Finance Committee amended some items on the budget to serve the state's view in general, and also to strengthen the role of government institutions in carrying out reforms and governance in some joints."
Al-Halbousi confirmed, "The budget will be passed next Saturday."LINK
DeepWoodz: Imo Sounds definitive. I like Halbousi and he doesn’t usually mince words. Considering he chaired a meeting today concerning the budget I’d say it’s on. And not just voted on…..PASSED. We knew that.
Clare: Al-Sudani: Financing the service effort in the 2023 budget will constitute a quantum leap
5/25/2023
Today, Thursday, the Prime Minister, Muhammad Shia Al-Sudani, chaired a meeting of the service and engineering effort team, during which the report on the progress of implementation and the works carried out in the sites and projects that the team took over in Baghdad and the provinces were discussed.
Al-Sudani listened to a comprehensive presentation of the achievement and implementation rates, as well as the obstacles that delay the completion of the works, and the schedules of quantities related to the projects until May 21, 2023, and directed that obstacles be overcome in all aspects of the work.
The Prime Minister stated that this team and its exceptional style of work constituted a state of hope and a source of pleasure for the citizen, despite the presence of some obstacles, but the outcome was positive by all standards, stressing that the financial financing of the service effort within the 2023 budget will constitute a quantum leap if Invest in the right way and with the right procedures.
Al-Sudani reaffirmed the importance of setting priorities in the implementation of projects, as he directed that priority be given to primary sewage projects in the implementation efforts. Due to the lack of approval of the budget so far, he also directed his sovereignty to resolve the remaining projects, and to prepare for the preparation of the next plan in light of the field survey.
Al-Sudani commended the efforts of all the team's employees and what they provided during the previous stage, and the good impact they left in the areas where they implemented the projects. LINK
DeepWoodz: imo Yea…thank you IMF. I’d be happy with 3:1.
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Courtesy of Dinar uru
Mnt Got Yes, we are VERY close to something big happening with the dinar...Yes, I do have some concerns about not seeing any news about the project to delete the zeros... Integral to the RV is this project to delete the zeros. One can not happen without the other. Many time already, Al-Sundani has told the citizens of Iraq the dinar is stronger than the dollar. ...Yet it is still less than 1/6 of a penny. So when will they make this move and prove it to the citizens and given them a new rate?
Pimpy Let's clear this up...an RI is a reinstatement. People always intermingle that with the RV. An RI would be reinstating the rate in which a currency once was. In Kuwait...they were invaded, they dropped the value way down but after Iraq was removed...they reinstated the rate where it was before the invasion. As far as Iraq is concerned, way different because what happened in Kuwait was a short period of time, not to mention Iraq is under restrictions. Are they going to have a reinstatement? I don't think so. That's my opinion. But could it happen? Of course. Anything is possible...I think you're going to see an RV which is a re-value...
Recession Coming By Second Half Of Year, Brace For Market Meltdown, Fiscal Crisis | Jesse Felder
David Lin: 5-25-2023
Jesse Felder, Founder of Felder Investment Research, discusses the prospect of a widening deficit, which alongside the end of globalization, would spark a return to higher, persistent inflation.
0:00 - Intro
1:10 - Debt ceiling
2:57 - Deficit widening
11:20 - Inflation's causes
14:40 - End of globalization
19:30 - Long-term inflation outlook
23:28 - Market correction, recession
29:30 - Fed's 2% inflation target
31:55 - Rate cuts?
34:40 - Investment implications
35:49 - Return of gold standard?
38:25 - Jesse Felder