Dr. Rick C. Ernst
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Competitive Devaluation

The ECB's Deflation Headache & Prayers
www.bullionvault.com

Because after the British Pound stole a march on everyone else at the depths of the 2008-2009 crisis, competitive devaluation is failing. The more zero rates and QE fail to move the needle, the more central bankers will try to out-zero and out-print …

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The Devaluation of the Birr – a Layman's Guide
allafrica.com

… multitude and important conditions for devaluation to be effective is for Ethiopia's trading partners not to resort to devalue their own currencies (that is, for them to refrain from a currency war known as competitive devaluation– a "beggar-thy …

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(MKTW) Finning Reports Q2 2014 Results
online.wsj.com

(2) Earnings Before Finance Costs and Income Taxes (EBIT); Earnings per Share (EPS); Earnings Before Finance Costs, Income Taxes, Depreciation and Amortization (EBITDA); Selling, General & Administrative Expenses (SG&A); Return on Invested Capital …

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RBI governor warns of global market 'crash'
zeenews.india.com

Rajan said back then countries were engaged in a period of competitive devaluation, in a similar way to central banks now being engaged in ever more accommodative policies. "We are taking a greater chance of having another crash at a time when the …

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Unintended consequences: Sanctions on Russia hurt US dollar dominance
rt.com

Each signatory agreed to adopt a monetary policy that maintained the exchange rate by tying its national currency to the US dollar and to prevent competitive devaluation of its money. At the time, the dollar was pegged to the price of gold. In 1971 …

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China's Dagong Downgrades Venezuela to BB-
www.laht.com

"Serious macroeconomic imbalance will drag Venezuela into recession in the short term, and exacerbate the risk of social unrest. Its large fiscal deficit, insufficient international reserves and the pressure of significant devaluation of the local …

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McEwen Mining Q2 2014 Financial & Operating Results
online.wsj.com

Adjusted net income (loss) excludes the following items from net income (loss): impairment charges, net of tax; foreign currency gains and losses, including the impact of the devaluation Argentine peso relative to the U.S. dollar; other non-recurring …

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Nokian Renkaat Oyj – Nokian Tyres plc Interim Report January-June 2014 …
online.wsj.com

Nokian Tyres' Net sales are expected to decrease due to currency devaluations combined with weaker sales mix and ASP. Nokian Tyres continues to have competitive advantages from having manufacturing inside Russia. Of the Russian production 55% is …

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Finning Reports Q2 2014 Results
www.marketwatch.com

The current period effective tax rate continues to be impacted by the devaluation of Argentine peso. ….. attract sufficient skilled labour resources to meet growing product support demand; Finning's ability to negotiate and renew collective …

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