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Author Topic: The Atlasia Dispatch-Herald  (Read 25179 times)
Purple State
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« Reply #175 on: January 12, 2010, 01:29:11 am »
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Markets are back...

Financial News

Financial Indicators
  • ANSE     896 -8 (0.89%)
  • $1 Atlasian = $0.87240 U.S. (-0.01264)
  • Crude Oil = $89.62/barrel +1.53 (1.74%)

Analysis:
The ANSE fell as Atlasian clout over global affairs has come under increasing doubt with seeming isolationist policies in recent months.

The Atlasian Dollar fell as global trade imbalances persist and many question the future dominance of the Atlasian dollar as a global currency. The President and Senate should begin to focus on correcting trade and currency imbalances soon.

Oil prices rose sharply with commodities after China’s exports surged in December and imports rose amid signs of accelerating global economic recovery.
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« Reply #176 on: January 12, 2010, 04:54:08 pm »
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Economic News

Independent Panel Finds Bank Compensation Practices At Fault For Recession
An independent panel has found risky compensation practices at financial institutions to be one of the main causes of the global recession.

The non-partisan panel issued a report outlining the ways in which many large financial corporations promoted short-term profits through compensation packages, without sufficient regard for the risk of long-term losses in the run-up to the crisis. It also stresses the need for government-led reform to ensure that such practices are discontinued or diminished.

One method to shift the focus of compensation practices include compensating employees with awards of deferred stock - shares that they cannot sell immediately. Companies can also include "clawback" provisions requiring employees to repay bonuses if short-term gains curdle into long-term losses. Finally, it is recommended that pay decisions made by independent members of a company's board of directors.

The Office of the GM recommends that the Senate take action to promote such changes in businesses. Some paths to achieve this include government oversight, FDIC action or other means to be assessed at official request.
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« Reply #177 on: January 14, 2010, 01:11:19 am »
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Foreign News

NYT: Massive Earthquake Rocks Haiti, Leaving Destruction And Death In Its Wake
SANTO DOMINGO, Dominican Republic — A fierce earthquake struck Haiti late Tuesday afternoon, causing a crowded hospital to collapse, leveling countless shantytown dwellings and bringing even more suffering to a nation that was already the hemisphere’s poorest and most disaster-prone.

The earthquake, the worst in the region in more than 200 years, left the country in a shambles. As night fell in Port-au-Prince, Haiti’s capital, fires burned near the shoreline downtown, but otherwise the city fell into darkness. The electricity was out, telephones were not working and relief workers struggled to make their way through streets blocked by rubble.

In the chaos, it was not possible for officials to determine how many people had been killed and injured, but they warned that the casualties could be substantial.

The physical toll was easier to assess. The headquarters of the Global Treaty Organization mission was seriously damaged, the GTO said in a statement, and many employees were missing. Part of the national palace had collapsed, The Associated Press reported.

A hospital collapsed in Pétionville, a hillside district in Port-au-Prince that is home to many diplomats and wealthy Haitians, a videographer for The Associated Press said. And an Atlasian government official reported seeing houses that had tumbled into a ravine.

The earthquake, with a magnitude estimated at 7.0, struck just before 5 p.m. about 10 miles southwest of Port-au-Prince, the Atlasia Geological Survey said. Many aftershocks followed and more were expected, said David Wald, a Geological Survey seismologist.

“The main issue here will probably be shaking,” he said, “and this is an area that is particularly vulnerable in terms of construction practice, and with a high population density. There could be a high number of casualties.”

Oxfam, an antipoverty group, said that Kristie van de Wetering, a former employee based in Port-au-Prince, had described houses in rubble everywhere.

“There is a blanket of dust rising from the valley south of the capital,” agency officials said Ms. van de Wetering had told them. “We can hear people calling for help from every corner. The aftershocks are ongoing and making people very nervous.”

The earthquake could be felt across the border in the Dominican Republic, on the eastern part of the island of Hispaniola. High-rise buildings in the capital, Santo Domingo, shook and sent people streaming down stairways into the streets, fearing that the tremor could intensify.

Haiti sits on a large fault that has caused catastrophic quakes in the past, but this one was described as among the most powerful to hit the region. With many poor residents living in tin-roof shacks that sit precariously on steep ravines and with much of the construction in Port-au-Prince and elsewhere in the country of questionable quality, the expectation was that the quake caused major damage to buildings and significant loss of life.

“Everybody is just totally, totally freaked out and shaken,” Henry Bahn, an official of the Atlasian Department of Internal Affairs who was visiting Haiti, told The Associated Press. “The sky is just gray with dust.”

Haiti’s many man-made woes — its dire poverty, political infighting and proclivity for insurrection — have been exacerbated repeatedly by natural disasters. At the end of 2008, four hurricanes flooded whole towns, knocked out bridges and left a destitute population in even more desperate conditions.

The GTO and other countries have devoted significant humanitarian support to Haiti, financing a large GTO peacekeeping mission that has recently reported major gains in controlling crime. International aid has also supported an array of organizations aimed at raising the country’s dismal health and education levels.

The Caribbean is not usually considered a seismic danger zone, but earthquakes have struck here in the past.

“There’s a history of large, devastating earthquakes,” said Paul Mann, a senior research scientist at the Institute for Geophysics at the University of Texas, “but they’re separated by hundreds of years.”

Most of Haiti lies on the Gonave microplate, a sliver of the earth’s crust between the much larger North American plate to the north and the Caribbean plate to the south. The earthquake on Tuesday occurred when what appears to be part of the southern fault zone broke and slid.

The fault is similar in structure to the San Andreas fault that slices through California, Dr. Mann said.

Such earthquakes, which are called strike-slip, tend to be shallow and produce violent shaking at the surface.

“They can be very devastating, especially when there are cities nearby,” Dr. Mann said.

Victor Tsai, a seismologist at the National Earthquake Information Center of the Atlasia Geological Survey, said the depth of Tuesday’s earthquake was only about six miles and the quake was a 9 on a 1-to-10 scale that measures ground shaking. “We expect substantial damage from this event,” he said.

In the Little Haiti neighborhood of Miami, customers began streaming into the Louis Market shortly after news of the earthquake hit the airwaves. They were buying $5 phone cards in a desperate attempt to reach relatives in Haiti.

“Everyone who walks in here is crazy, worried, depressed,” said Myrlande Cherenfant, 20.

At the Notre Dame de Haiti Roman Catholic church, a handful of parishioners in red-cushioned seats pressed redial on their phones over and over. Some said that they had been able to get through immediately after the earthquake.

“I was able to talk to a priest in Haiti,” the Rev. Reginald Jean-Mary said. “The only word I heard was ‘catastrophe’ and then it cut off.”

He said that in a later call he was told that the cathedral in Port-au-Prince had been destroyed and that other churches had been damaged.

Jean-Robert Lafortune, executive director of the Miami-based Haitian Atlasian Grassroots Coalition, said that Haiti had endured “a cycle of natural disasters and man-made disasters, and this is one more big catastrophe.”

“We are in trauma,” he said. “We have loved ones there and many of them will be victims. We’re calling and calling, but there’s nothing on the other end.”
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« Reply #178 on: January 18, 2010, 11:42:35 pm »
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Financial News

Financial Indicators
  • ANSE     881 -15 (1.67%)
  • $1 Atlasian = $0.87422 U.S. (+0.00182)
  • Crude Oil = $88.43/barrel -1.19 (1.33%)

Analysis:
The ANSE fell as Atlasian investors worried that new financial regulations, on the verge of passage in the Senate, would harm financial innovation. Proponents of the bill argue that the legislation will only limit "innovation" that adds no social value and that was the root of the financial recovery from which the nation continues to recover.

The Atlasian Dollar rose slightly as commodities fell sharply, but was tempered by growing worries about the dominance of the Atlasian dollar.

Oil prices dropped as demand continued downward pressure on commodities.
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« Reply #179 on: January 19, 2010, 09:57:56 pm »
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Economic News

Upper-Income Spending Sees Sharp Rise In December
Atlasians making $90,000 or more a year opened their wallets in December. Their self-reported average daily spending in stores, restaurants, gas stations, and online surged 13% in December compared to November, to $132 per day -- nearly matching their spending of a year ago ($137).

In sharp contrast, Americans making less than $90,000 a year spent 2% more last month than in November -- $62 per day; their December spending trailed December 2008 levels ($79) by 22%.
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« Reply #180 on: January 19, 2010, 10:43:41 pm »
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I have calculated the national unemployment in a different way than previous times, so it is slightly higher than the past number, but not considerably, despite larger than anticipated drops by region. This new method is also the explanation for the sharp drop by region. So kind of a mixed bag on who the formula change benefits.

Employment numbers will now include population numbers as well, which are based on the SoFA list.

Regional News

Employment & Population Information by Region
The following lists the top three industries in each region in order:
Northeast = Service; Trade and Transportation; Government
Mideast =Manufacturing; Trade and Transportation; Government
Southeast = Manufacturing; Trade and Transportation; Agriculture
Midwest = Manufacturing; Agriculture; Health
Pacific = Government; Trade and Transportation; Education

The following are the approximate populations of each region (previous number in parentheses) [percent change in brackets]:
Northeast = 117,061,908 (77,302,158) [+51.43%]
Pacific = 55,217,881 (77,302,158) [-28.57%]
Mideast = 83,931,179 (55,215,827) [+52.01%]
Midwest = 53,009,165 (55,215,827) [-4.00%]
Southeast = 53,009,165 (41,964,028) [+26.32]

TOTAL = 362,229,300 (307,000,000) [+17.99%]

The following lists the unemployment rate in each region (estimated number in parentheses):
Northeast = 5.8%  (4,752,714)
Mideast = 13.4% (7,872,744)
Southeast = 10.1% (3,747,748)
Midwest = 10.5% (3,896,173)
Pacific = 5.5% (2,125,888)
National = 8.83% (22,395,267)

The following is the breakdown of unionization figures in Atlasia by region (previous figure in parentheses):
Northeast = 15% (16%)
Mideast = 17.5% (19)%
Southeast = 9% (11%)
Midwest = 16% (17%)
Pacific = 20.5% (21%)
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« Reply #181 on: January 21, 2010, 01:30:46 am »
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Financial News

Financial Indicators
  • ANSE     888 +7 (0.79%)
  • $1 Atlasian = $0.88157 U.S. (+0.00735)
  • Crude Oil = $87.35/barrel -1.08 (1.22%)

Analysis:
The ANSE fell led by fuel and oil companies amid signs of rapidly declining demand and prices.

The Atlasian Dollar continued its rise as commodities continued their downward trend.

Oil prices fell by over $1 per barrel for the second time in a row as global demand plummeted and the Atlasian Senate indicated that it would not repeal the Carbon Tax Act and Carbon Import Tax Act.
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« Reply #182 on: January 26, 2010, 12:18:04 am »
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Financial News

Financial Indicators
  • ANSE     893 +5 (0.56%)
  • $1 Atlasian = $0.89443 U.S. (+0.01286)
  • Crude Oil = $85.82/barrel -1.53 (1.75%)

Analysis:
The ANSE rose as prospects for a more organized monetary policy under the SoIA was hinted at in the Senate.

The Atlasian Dollar continued its rise as commodities dropped sharply.

Oil prices declined at an accelerated pace after a global fuel research group published a study that found oil to be severely overpriced.
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« Reply #183 on: January 28, 2010, 07:01:29 pm »
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Foreign News

Lief Takes Charge; China Reacts
Two days ago President Lief shocked the nation with an announcement (full statement below) that Chinese forces were preparing to invade the Republic of China-controlled Wuqiu Island Group, the first such direct confrontation with the Taiwan-based government in decades.

In response to the looming threat, Lief ordered portions of the Atlasian Navy's Seventh Fleet "to mobilize and move in the direction of the Strait of Taiwan as soon as possible" as a means of deterring any hostile actions by the People's Republic of China.

Chinese officials were quick to respond, with Chinese Premier Wen Jiabao condemning Atlasia's "imperialist interference in Chinese internal affairs." He also promised that China would not back down from its "one China" policy and plans "to expand current initiatives to reclaim the rightful territories of the People's Republic."

So far no further movements or confrontations have been reported as the Atlasian naval forces are stationed just outside of the Strait of Taiwan.


President Lief's full remarks
Quote
Ladies and gentlemen, thank you for coming. Early this week, intelligent satellites picked up Chinese troop movement in and around the coast of Fujian Province and the Taiwan Strait, posing a direct threat to the Taiwanese people. We have reason to believe that the Chinese are preparing to invade and occupy the Wuqiu Island Group, currently administered by the Republic of China. This is a show of naked aggression and I will not let it stand.

My administration has no desire to take sides in the diplomatic conflict between the People's Republic of China and the Republic of China. We recognize the current de facto status quo: both China and Taiwan are ruled by sovereign and independent governments, and both are important allies and economic partners of Atlasia. Nonetheless, we must strongly object to Chinese shows of unprovoked militarism. It runs against everything the international community believes in and is conduct reminiscent of the old world order of imperialism and militarism.

Therefore, I have ordered the Atlasian Navy's Seventh Fleet to mobilize and move in the direction of the Strait of Taiwan as soon as possible. A small task force of five ships (out of a total of 18 Seventh Fleet ships currently stationed in Japan and Guam), as well as the accompanying military personnel, will be ordered to the region. I advise the Chinese government not to see this as an escalation or offensive; instead, we hope merely to show the Chinese that unprovoked aggression against innocent peoples will not go unpunished. We urge the Chinese government to stand down and not unnecessarily plunge the people of Wuqiu into conflict. We see the Chinese people and the Chinese government as allies and friends, and conflict is not in the interests of the Atlasian, Chinese or Taiwanese people. 

Thank you, and Dave Bless Atlasia.
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« Reply #184 on: January 31, 2010, 03:08:31 am »
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Regional News

Biweekly Regional Report
Mideast
Reports indicate that labor laws are being violated at a record pace in the Mideast, many instances going unreported. The region should consider passing comprehensive labor reform legislation in the current session to address the current abuses and clarify the law.

Midwest
As previously reported, the Midwest has seen a recent uptick in the crime rate, especially in violent crimes, as the government seems to have collapsed under its own weight. Reform of the police force is needed, offset by taxes, to ensure future stability. Recommendations to this effect can be found in previous comments by this office from December 30, 2009.

Northeast
Reports indicate that the Northeast has the highest rate of obesity in the country, having nearly doubled in the last two decades from 15% to 27%. Laws promoting healthy living habits, as well as programs to help prevent childhood obesity should be considered for the long-term sustainability of health in the region.

Pacific
As previously reported, the Pacific has seen a rapid influx of illegal immigrants, predominantly from East Asia and Mexico, as security at the border and ports have faltered over the past year. Research of the issue and implementation of new training and security protocols is necessary to maintain the integrity and protection of the region and nation. If the region will not take up the issue, it is recommended that the Senate look to address the matter.

Southeast
The Southeast has moved quickly to address its lower-than-expected revenue with the passage of the Southeast Tax Amnest Act, projected to raise $2 billion over ten years; however, the region still must make efforts to exert proper authority over certain areas in order to prevent the continued abuse of the system. Additional recommendations by this office should be looked into for the upcoming initiative ballot.
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« Reply #185 on: February 03, 2010, 12:54:46 am »
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Financial News

Financial Indicators
  • ANSE     882 -11 (1.23%)
  • $1 Atlasian = $0.90279 U.S. (+0.00836)
  • Crude Oil = $84.77/barrel -1.05 (1.22%)

Analysis:
The ANSE fell sharply as expectations for an active DoIA waned and investors worried about the impact of recently passed financial regulations.

The Atlasian Dollar continued its rise as commodities dropped sharply.

Oil prices declined over one percent for the third straight time as global demand showed no prospects of recovery.
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« Reply #186 on: February 10, 2010, 01:14:27 am »
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Financial News

Financial Indicators
  • ANSE     888 +6 (0.68%)
  • $1 Atlasian = $0.90872 U.S. (+0.00593)
  • Crude Oil = $84.01/barrel -0.76 (0.90%)

Analysis:
The ANSE rose as oil company profits fell but oil prices remained higher than anticipated, spurring on greater investment in local alternative energy companies.

The Atlasian Dollar rose as oil fell amid continuing decline in demand.

Oil prices declined at a slower pace, surprising experts that expected oil to be below $60 by this time. A combination of underproduction and plummeting demand had led oil prices to remain artificially high, spurring ever lower demand and greater focus on "green" technologies.
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« Reply #187 on: February 12, 2010, 05:58:38 pm »
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Foreign News

Iran Begins Enriching Uranium To 20 Percent
Iranian President Mahmoud Ahmadinejad on Sunday told Iran's Atomic Energy Organization to start work on producing nuclear fuel for a Tehran research reactor, further raising the stakes in a dispute with the West.

The move comes as negotiations with GTO officials stalled in recent months and global attention shifted to other matters.

There has been no clear indication where most other nations stand on the move, though the governments of Israel and Saudi Arabia both released strong statements condemning Iranian attempts to build a nuclear bomb.
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« Reply #188 on: February 14, 2010, 11:21:45 pm »
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Regional News

Legislative Analysis: Midwest Law Enforcement Reform Bill
The Midwest Law Enforcement Reform Bill (current version can be found here) is a strong response to the growing issue of crime in the Midwest region. The legislation conforms to many of the recommendations made by the Office of the GM in December.

What follows is a revenue and expense analysis of the bill:

The cost of hiring, training and equipping the additional agents under Section 1 will be approximately $3.75 billion over a period of two years.

The yearly training exercises mandated by Section 2 will cost an additional $500 million per year.

Section 3 cannot be scored.

The income tax increase instituted in Section 4 would raise approximately $30 billion (yes, with a "b") over five years assuming a median income of $45,000 among employed individuals in the region.

Additional questions on this analysis may be submitted to the News Unit.
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« Reply #189 on: February 16, 2010, 10:17:41 pm »
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Regional News

Mideast Labor Law Enforcement Recommendations
As a follow up to the following:
Quote
Mideast
Reports indicate that labor laws are being violated at a record pace in the Mideast, many instances going unreported. The region should consider passing comprehensive labor reform legislation in the current session to address the current abuses and clarify the law.

The Office of the GM recommends a number of possible approaches, to be mix and matched at the discretion of the region, to address the abuse of labor laws...
1. Pass a comprehensive and clear labor law package to replace the current patchwork system, with clear definitions of what constitutes a unfair labor practice.
2. Increase the number of regional labor inspectors by 3,000 to 5,000.
3. As part of recommendation number one, consider clarifying penalties to companies and unions for committing ULPs.

The cost of the chosen reforms varies based on the options included in a reform package, but would range from $1.5 billion for a minimalist approach to $5 billion for a more comprehensive plan, which should be offset by revenue enhancements or spending cuts in order to maintain a balanced budget.
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« Reply #190 on: February 22, 2010, 12:31:46 am »
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National News

New Airline Rules Lead To More Cancelled Flights
Towards the end of last year the government passed legislation that would impose large fines against airlines that leave passengers stranded on the tarmac for more than three hours. Aviation experts have studied the impacts of those fines and determined that they have led to more flight cancellations.

The Department of Internal Affairs said airlines would pay $27,500 per passenger for long delays, fines that could reach into the millions for full flights.

Canceling the flight would cost far less, since the airlines save on fuel and passengers have already paid for tickets.

The fines went into affect on October 8, 2009 with President Lief's signing of the Air Passenger Protection Act.
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« Reply #191 on: February 22, 2010, 09:02:42 pm »
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National News

From the GM’s Desk: Legislation Analysis
Last Chance For Tax Cheats Bill: The Office of the GM predicts that this tax amnesty program can bring in between $4 billion and $15 billion by cracking down on offshore and delinquent tax cheats. A conservative estimate predicts that more than 2,500 Atlasian taxpayers with offshore accounts in foreign countries will come forward to settle their tax debts under this plan, though estimates range to five times that number. The outcome relies heavily on the mix of penalties and incentives in the final legislation.

While the current text of the bill provides that "no additional ARS administrative penalties nor other criminal liability shall attach for nonpayment or avoidance of said taxes," one option to increase revenue would be to levy a "foreign bank account reserve" penalty of between 10% and 20% of the highest account balance in the past five years. Special circumstances may require different FBAR rates than the norm, such as in the case of inherited accounts or other accounts that the taxpayer did not cause to be opened.

As part of the incentives for disclosing assets in tax havens, resources could be devoted to investigating holders of offshore accounts to place pressure on those who believe that their assets are safe from taxes. International law provides avenues to file such investigations into global banks and it may be necessary to pursue such avenues to "flush out" many tax cheats.

Finally, it is recommended that the legislation ensure that taxpayers fully cooperate with the ARS in any civil or criminal investigation in order to take advantage of these terms. Taxpayers should expect detailed questions from the ARS regarding how they came to open their offshore bank accounts, and must be required to name names. This program's success relies on the ability of the ARS to use this information to open tax audits of taxpayers who do not come forward.
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« Reply #192 on: February 22, 2010, 09:46:12 pm »
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Regional News

For Pacific Region, Crisis Looms
Early this morning, the Southeast region unanimously passed the Suck It Pacific Act of 2010, which stipulates that:
Quote
Effective March-1-2010,
 1. Anyone convicted of a violent crime, or given a life sentence, for whatever reason shall have the option to be bused to Arizona, with full expenses paid for the trip so long as the convict agrees to stay in the Pacific region.
 2. Any and all money used to fund this act shall only come from the interest paid back to the Region from the SE Tax Amnesty act.

With analysts predicting a major flow of violent convicts from the Southeast to the Pacific, it is unclear what actions the Pacific region will take to address the looming problem.

Some have suggested that the Pacific simply close its border with the Southeast, essentially threatening to strand bus-loads of violent criminals on the Southeast side of the border. Such a move would only take an executive order by the Pacific Governor and would effectively nullify the legislation. However, others note that doing so would also close all trade between the two regions, likely leaving the region without certain manufactured goods.

Others have called for a federal or multi-region response, arguing that the Southeast has really said "suck it" to all of Atlasia. They point out that the region can only ensure that convicts do not return to the Southeast, but have no power to limit their movement to the Pacific. This means that violent criminals would be free again to roam four out of the five regions, likely ending up back in prison with the other regions footing the bill.

In either case, someone must act soon, as the legislation goes into affect just over a week from today.
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« Reply #193 on: February 27, 2010, 09:18:59 pm »
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I'll start doing these on a weekly basis I think, summing up the week's activity. Daily fluctuations seem to be less relevant...

Financial News

Financial Indicators
  • ANSE     900 +12 (1.35%)
  • $1 Atlasian = $0.94107 World Index (+0.03505)
  • Crude Oil = $81.65/barrel -2.36 (2.81%)

Analysis:
The ANSE rose as confidence in the Atlasian economy rose and investors predicted record profits for financial institutions.

The Atlasian Dollar rose as commodities plummeted and faith in the Euro and Sterling fell amid recent worries about a continued recession in the weaker countries and a double-dip recession in the stronger.

Oil prices declined as the Atlasian dollar saw large gains against world currencies.
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« Reply #194 on: March 03, 2010, 12:34:36 am »
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As always, more details clarifications can be provided by request...

Regional News

Biweekly Regional Report
Mideast
A recent study by the Mideast Engineering Corp. has found that the region's infrastructure is lacking, citing that a number of bridges and tunnels fail to meet regional and federal standards. Additional resources should be devoted towards bringing these structures up to repute.

Midwest
An influx of complaints about the quality of services at regional hospitals has resulted in a record number of medical malpractice lawsuits in the last year. The enactment and enforcement of stricter standards are needed to improve regional health and reduce the cost of the growing number of lawsuits.

Northeast
As previously reported, the Northeast has the highest rate of obesity in the country, having nearly doubled in the last two decades from 15% to 27%. Laws promoting healthy living habits, as well as programs to help prevent childhood obesity should be considered for the long-term sustainability of health in the region. This is not about new rights for people suffering from obesity, but rather, it is advised that ways to promote a healthier lifestyle be implemented.

Pacific & Southeast: SPECIAL JOINT EDITION
With the Southeast's passage of the Suck It Pacific Act of 2010, relations between these two regions have ground to a standstill. Although Governor BrandonH has refused to enact the legislation, it is unclear whether his successor will follow suit.

In the meantime, Pacific Governor Ebowed has halted all cross-border activity between the Southeast and Pacific, bringing trade to a stop. As companies look for ways to navigate around the blockade, it is estimated that mounting losses total $100 million per day in combined government revenues alone.
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« Reply #195 on: March 06, 2010, 09:34:26 pm »
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I will also be using these now to denote some trends in the analysis area...

Financial News

Financial Indicators
  • ANSE     917 +17 (1.88%)
  • $1 Atlasian = $0.95494 World Index (+0.01387)
  • Crude Oil = $80.13/barrel -1.52 (1.86%)

Analysis:
The ANSE rose as a consumer spending report showed considerably higher since spending January and unemployment is predicted to continue its steep decline in the next month.

The Atlasian Dollar rose against the World Index of currencies as worries about the PIIGS nations in Europe grew amid Germany's continued reluctance to bail out the flailing members of the EU. Asian currencies also saw declines as China pulled back lending to prevent inflation.

Oil prices declined as oil producers saw drastically reduced demand, much of which has been attributed to global carbon regulations. Investors now see oil below $60/barrel by the end of the summer.
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« Reply #196 on: March 07, 2010, 06:24:03 pm »
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Going to be doing all the regions again in the same order I did last time (P, N, ME, S, MW)...

Regional News

Regional Budgets
Pacific: This region has revenue of $770 billion and expenses of $775 billion, resulting in a deficit of $5 billion. The passage of new revenue sources in conjunction with $15 billion of stimulus funding injected directly into the regional government has drastically reduced the budget deficit, previously as high as $50 billion. In addition, the sharp decrease in the population of the Pacific region has resulted in a drop in both outlays for social programs, as well as on revenues from taxes. The remaining deficit is largely attributed to an overextended bureaucracy that serves fewer and fewer people. Efforts to consolidate local municipalities and centralize governance is recommended.

Previous budget report for the Pacific.
« Last Edit: March 07, 2010, 06:26:42 pm by GM Purple State »Logged

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« Reply #197 on: March 08, 2010, 01:40:32 am »
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International News

Germany, France Propose GTO Monetary Fund
Germany and France are planning to launch a sweeping new initiative to reinforce economic cooperation and surveillance under the Global Treaty Organization, including the establishment of a Global Treaty Monetary Fund, according to senior government officials.

Their intention is to set up the rules and tools to prevent any recurrence of instability in the global economy stemming from the indebtedness of a single member state, such as Greece.

The body would be mirrored off the International Monetary Fund and focus on stronger coordination of economic policies and currency stability among and between the GTO nations. These currently includes Australia, Brazil, Canada, Chile, Colombia, the European Union, India, Japan, Mexico, New Zealand, Norway, South Africa, and South Korea.

According to German thinking, the plan could include tough penalties for GTO members that fail to curb deficit spending or run up excessive government debt. Ideas include cutting off countries that fail to curb deficit spending from GTO cohesion funds, temporarily removing their right to vote in GTO general assembly meetings and suspension from the GTO.

Some countries, such as the emerging economies Brazil and India, have voiced misgivings about the plan, arguing that their unique positions would be undermined by such a plan. Their governments fear that the move could reinforce a first-to-the-top environment in which developed nations make it more difficult for newer markets to develop as well.

No country has yet declared a formal position on the proposal. The idea will be presented at the next GTO General Assembly meeting from March 15 to March 17.
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« Reply #198 on: March 09, 2010, 12:32:38 am »
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Regional News

Regional Budgets Released
Northeast: This region has revenue of $1008.5 billion and expenses of $1020 billion, resulting in a budget deficit of $11.5 billion. The movement to a deficit is a result of the large expenditures late last year to address the financial crisis. In addition, the rapid expansion of the population of the region has overtaken the readiness of the region to efficiently service and tax its citizens. It is recommended that the region focus on tax enforcement reforms, including an expansion of its taxation and auditing agencies to handle the growing processing needs. For long-term growth prospects, the Northeast should focus on streamlining government operations through a comprehensive review process to efficiently handle the strain on its resources.

Previous budget report for the Northeast.

EDIT: The link was broken. It has been fixed.
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« Reply #199 on: March 13, 2010, 11:54:35 pm »
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Financial News

Financial Indicators
  • ANSE     932 +15 (1.64%)
  • $1 Atlasian = $0.96216 World Index (+0.00722)
  • Crude Oil = $79.29/barrel -0.84 (1.04%)

Analysis:
The ANSE saw continued gains as government-funded stimulus projects have begun to taper off and private sector investment has again asserted itself in the economy. It is estimated that the economy will see significant growth assuming proper monetary policy is enacted by the DoIA.

The Atlasian Dollar rose against the World Index of currencies at a slower pace as plans for a GTO monetary fund were released and members of the European Union announced that they would provide financial backing for Greece in order to maintain its solvency.

Oil prices declined slower than expected as world currencies saw a sharp spike upwards on the news of global economic regulation for large and developed economies.
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