Day: January 17, 2025

Argentina hits record trade surplus in Milei’s first year

Under Milei’s leadership, Argentina turned a $7.94B trade deficit in 2023 into a record-smashing $18-19B surplus in 2024, surpassing the previous high of $16.89B in 2009. https://preview.redd.it/mlke67or5mde1.png?width=1080&format=png&auto=webp&s=5e4c9e306afe100ad8affe74770cccd8faadb6a2 His push to boost energy exports from the Vaca Muerta shale reserves and ramp up grain sales is paying off, making Argentina a global exporting powerhouse again. With inflation already down from nearly 300% to 117.8%, Milei’s economic reforms are proving their worth. Source: Reuters submitted by /u/FXgram_ [link] [comments]

EUR/USD slides as US Dollar gains with Trump’s inaugration on the horizon

EUR/USD falls sharply to near 1.0270 as investors shift focus to the US President-elect Donald Trump’s inauguration ceremony. Trump is expected to release policies on raising tariffs and lowering taxes soon after re-joining the White House. The ECB minutes showed that officials debated over reducing the Deposit Facility rate by 50 bps in December. submitted by /u/Demblin [link] [comments]

Sweden plans to remove citizenship from people seen as threat to state. “….Sweden’s political parties have agreed that dual citizens who commit crimes that threaten national security should lose their citizenship” – Could it be any other way?

BBC But it stopped short of proposals by the minority government for gangsters to have their citizenship revoked. Justice Minister Gunnar Strommer said Sweden was dealing with “violent extremism, state actors acting in a hostile manner towards Sweden, as well as systemic organised crime”. Under Sweden’s constitution, revoking citizenship is currently not allowed and a vote will take place next year in parliament on changing the laws. submitted by /u/XGramatik [link] [comments]

“….in less than 10 years China will rule everything” – Marco Rubio

https://reddit.com/link/1i3drso/video/rcqlysp0bjde1/player “If we stay on the road we are on right now, in less than 10 years, virtually everything that matters to us in life will depend on whether China allows us to have it or not. Everything from blood pressure medicine to what movies we get to watch, and everything in between. They dominate the critical mineral industry. Even those who want more EVs – those batteries depend on China. If we don’t change course, we will live in a world where much of what matters on a daily basis, from our security to our health, will be dependent on whether the Chinese allow us to have it or not.” submitted by /u/FXgram_ [link] [comments]

GLOBAL DEBT SKYROCKETS TO $315 TRILLION. Elon Musk: “Earth sure owes Earth a lot of money 😂”

The world’s debt hit a jaw-dropping $315.1 trillion in early 2024, climbing $1.3 trillion in three months! Debt now equals 333% of global GDP. The U.S. and Japan led the borrowing frenzy in advanced economies, while China, India, and Mexico carried the torch for emerging markets. Since the pandemic, global debt has ballooned by $54.1 trillion, up 21%. Non-financial companies owe $94.1 trillion, governments $91.4 trillion, financial institutions $70.4 trillion, and households $59.1 trillion. In the U.S., debt servicing costs now outpace defense spending, and guess what, there’s no plan to fix it (Maybe DOGE will step up to the plate?). Meanwhile, emerging markets face rising risks with $105 trillion in debt and sluggish recovery from 2019. Source: visualcapitalist – Aug 2024 submitted by /u/XGramatik [link] [comments]