For the moment, the economy is being supported
by asset price inflation.
Our forecasts and hence policy are becoming increasingly driven
by asset price changes.
Not exact matches
Important factors that could cause actual results to differ materially from those reflected in such forward - looking statements and that should be considered in evaluating our outlook include, but are not limited to, the following: 1) our ability to continue to grow our business and execute our growth strategy, including the timing, execution, and profitability of new and maturing programs; 2) our ability to perform our obligations under our new and maturing commercial, business aircraft, and military development programs, and the related recurring production; 3) our ability to accurately estimate and manage performance, cost, and revenue under our contracts, including our ability to achieve certain cost reductions with respect to the B787 program; 4) margin pressures and the potential for additional forward losses on new and maturing programs; 5) our ability to accommodate, and the cost of accommodating, announced increases in the build rates of certain aircraft; 6) the effect on aircraft demand and build rates of changing customer preferences for business aircraft, including the effect of global economic conditions on the business aircraft market and expanding conflicts or political unrest in the Middle East or Asia; 7) customer cancellations or deferrals as a result of global economic uncertainty or otherwise; 8) the effect of economic conditions in the industries and markets in which we operate in the U.S. and globally and any changes therein, including fluctuations in foreign currency exchange rates; 9) the success and timely execution of key milestones such as the receipt of necessary regulatory approvals, including our ability to obtain in a timely fashion any required regulatory or other third party approvals for the consummation of our announced acquisition of Asco, and customer adherence to their announced schedules; 10) our ability to successfully negotiate, or re-negotiate, future
pricing under our supply agreements with Boeing and our other customers; 11) our ability to enter into profitable supply arrangements with additional customers; 12) the ability of all parties to satisfy their performance requirements under existing supply contracts with our two major customers, Boeing and Airbus, and other customers, and the risk of nonpayment
by such customers; 13) any adverse impact on Boeing's and Airbus» production of aircraft resulting from cancellations, deferrals, or reduced orders
by their customers or from labor disputes, domestic or international hostilities, or acts of terrorism; 14) any adverse impact on the demand for air travel or our operations from the outbreak of diseases or epidemic or pandemic outbreaks; 15) our ability to avoid or recover from cyber-based or other security attacks, information technology failures, or other disruptions; 16) returns on pension plan
assets and the impact of future discount rate changes on pension obligations; 17) our ability to borrow additional funds or refinance debt, including our ability to obtain the debt to finance the purchase
price for our announced acquisition of Asco on favorable terms or at all; 18) competition from commercial aerospace original equipment manufacturers and other aerostructures suppliers; 19) the effect of governmental laws, such as U.S. export control laws and U.S. and foreign anti-bribery laws such as the Foreign Corrupt Practices Act and the United Kingdom Bribery Act, and environmental laws and agency regulations, both in the U.S. and abroad; 20) the effect of changes in tax law, such as the effect of The Tax Cuts and Jobs Act (the «TCJA») that was enacted on December 22, 2017, and changes to the interpretations of or guidance related thereto, and the Company's ability to accurately calculate and estimate the effect of such changes; 21) any reduction in our credit ratings; 22) our dependence on our suppliers, as well as the cost and availability of raw materials and purchased components; 23) our ability to recruit and retain a critical mass of highly - skilled employees and our relationships with the unions representing many of our employees; 24) spending
by the U.S. and other governments on defense; 25) the possibility that our cash flows and our credit facility may not be adequate for our additional capital needs or for payment of interest on, and principal of, our indebtedness; 26) our exposure under our revolving credit facility to higher interest payments should interest rates increase substantially; 27) the effectiveness of any interest rate hedging programs; 28) the effectiveness of our internal control over financial reporting; 29) the outcome or impact of ongoing or future litigation, claims, and regulatory actions; 30) exposure to potential product liability and warranty claims; 31) our ability to effectively assess, manage and integrate acquisitions that we pursue, including our ability to successfully integrate the Asco business and generate synergies and other cost savings; 32) our ability to consummate our announced acquisition of Asco in a timely matter while avoiding any unexpected costs, charges, expenses, adverse changes to business relationships and other business disruptions for ourselves and Asco as a result of the acquisition; 33) our ability to continue selling certain receivables through our supplier financing program; 34) the risks of doing business internationally, including fluctuations in foreign current exchange rates, impositions of tariffs or embargoes, compliance with foreign laws, and domestic and foreign government policies; and 35) our ability to complete the proposed accelerated stock repurchase plan, among other things.
The latest change in tone may also reflect an additional concern - that low interest rates are fostering financial instability
by promoting bubbles in
asset prices and stimulating excessive credit creation.
By next year, there are questions to answer about what data should guide policy and the extent to which preventing
asset -
price bubbles should influence the benchmark interest rate.
When the Bitcoin
price peaked at $ 20,000 in December, the value of Mt. Gox's
assets (
by then including Bitcoin derivatives such as Bitcoin Cash) ballooned to $ 4.4 billion — nearly 10 times the amount Mt. Gox said it lost in the first place.
«It's a very particular
asset, it's a speculative
asset by definition looking to the developments in its
price.
Here are some examples of how this concept can be used
by investment analysts to anticipate the likely movements in exchange rates and
asset prices.
Still, the Fed chairman reiterated his argument that lower rates boost growth
by helping increase
prices of stocks, homes and other
assets.
Suncor is Alberta's biggest company
by assets, but a near 50 % drop in oil
prices in 2015 hit the company hard.
In the grander scheme of things, and as a red flag, this is another
asset class that has enormously benefited from
asset price inflation, stirred up
by the Fed's well - targeted monetary policies since the Financial Crisis.
It also is intrinsically incapable of
pricing control of resources or
assets; the free market presumes that an unfilled demand will be met
by someone, somewhere.
The sale
price was not disclosed, but according to the audio of an internal O'Leary Funds conference call obtained
by Maclean's, Canoe agreed to pay $ 13.7 million with the possibility of up to $ 8 million in equity — provided the funds»
assets could grow
by another $ 200 million over the following year.
The causes of the crisis that nearly killed Bilinkis's company were many: a patronage system, started
by Juan and Eva Perón in the 1950s, that grew into a bloated government bureaucracy; a corrupt privatization of government services that sold off some of the country's most valuable
assets at fire - sale
prices; and a reactionary monetary policy that exacerbated both of these problems.
Policy decisions
by Saudi authorities, including which of Aramco's huge selection of
assets will be included in the share sale, will have a big effect on the overall
price and valuation.
Others say the recent
prices simply reflect the fact that digital currencies are a far more sturdy
asset than they were two years ago, and their values can no longer be derailed
by a bit of negative news.
In the course, Bunn aims to teach students simple ways to identify value in the market
by using
price charts as an indicator of an
assets future success or failure.
Those wild
price swings are partly to do with the fact that cryptocurrencies aren't backed
by an
asset.
«While
asset monetizations enhance our liquidity, sales of producing natural gas and oil properties adversely affect the amount of cash flow we generate and reduce the amount and value of collateral available to secure our obligations, both of which are exacerbated
by low natural gas
prices..
Hit hard
by falling oil
prices, Marathon resorted to divesting
assets,
The SAFE said that of the 2015 drop in foreign exchange reserves, $ 342.3 billion was due to trade and investment transactions while $ 170.3 billion was caused
by currency and
asset price changes.
Because they trade on an exchange, products like ETFs and ETNs are not only
priced using a net
asset value (NAV)-- the value of securities held minus liabilities and divided
by shares outstanding — that is calculated at the end of each day and
by intraday NAV (iNAV) throughout the day.
Monetary neutrality means real
asset prices are not boosted indefinitely
by such policies; their economic effects must ultimately unwind.
Actual results, including with respect to our targets and prospects, could differ materially due to a number of factors, including the risk that we may not obtain sufficient orders to achieve our targeted revenues;
price competition in key markets; the risk that we or our channel partners are not able to develop and expand customer bases and accurately anticipate demand from end customers, which can result in increased inventory and reduced orders as we experience wide fluctuations in supply and demand; the risk that our commercial Lighting Products results will continue to suffer if new issues arise regarding issues related to product quality for this business; the risk that we may experience production difficulties that preclude us from shipping sufficient quantities to meet customer orders or that result in higher production costs and lower margins; our ability to lower costs; the risk that our results will suffer if we are unable to balance fluctuations in customer demand and capacity, including bringing on additional capacity on a timely basis to meet customer demand; the risk that longer manufacturing lead times may cause customers to fulfill their orders with a competitor's products instead; the risk that the economic and political uncertainty caused
by the proposed tariffs
by the United States on Chinese goods, and any corresponding Chinese tariffs in response, may negatively impact demand for our products; product mix; risks associated with the ramp - up of production of our new products, and our entry into new business channels different from those in which we have historically operated; the risk that customers do not maintain their favorable perception of our brand and products, resulting in lower demand for our products; the risk that our products fail to perform or fail to meet customer requirements or expectations, resulting in significant additional costs, including costs associated with warranty returns or the potential recall of our products; ongoing uncertainty in global economic conditions, infrastructure development or customer demand that could negatively affect product demand, collectability of receivables and other related matters as consumers and businesses may defer purchases or payments, or default on payments; risks resulting from the concentration of our business among few customers, including the risk that customers may reduce or cancel orders or fail to honor purchase commitments; the risk that we are not able to enter into acceptable contractual arrangements with the significant customers of the acquired Infineon RF Power business or otherwise not fully realize anticipated benefits of the transaction; the risk that retail customers may alter promotional
pricing, increase promotion of a competitor's products over our products or reduce their inventory levels, all of which could negatively affect product demand; the risk that our investments may experience periods of significant stock
price volatility causing us to recognize fair value losses on our investment; the risk posed
by managing an increasingly complex supply chain that has the ability to supply a sufficient quantity of raw materials, subsystems and finished products with the required specifications and quality; the risk we may be required to record a significant charge to earnings if our goodwill or amortizable
assets become impaired; risks relating to confidential information theft or misuse, including through cyber-attacks or cyber intrusion; our ability to complete development and commercialization of products under development, such as our pipeline of Wolfspeed products, improved LED chips, LED components, and LED lighting products risks related to our multi-year warranty periods for LED lighting products; risks associated with acquisitions, divestitures, joint ventures or investments generally; the rapid development of new technology and competing products that may impair demand or render our products obsolete; the potential lack of customer acceptance for our products; risks associated with ongoing litigation; and other factors discussed in our filings with the Securities and Exchange Commission (SEC), including our report on Form 10 - K for the fiscal year ended June 25, 2017, and subsequent reports filed with the SEC.
Slower economic growth has been partially masked
by rising
asset prices and the wealth effect.
The bank, which is the fifth - largest rural commercial bank
by assets in China,
priced at HK$ 5.10 a share after quoting HK$ 4.99 - HK $ 5.27, people familiar with the matter told Reuters.
In other words, if you tighten monetary policy, certainly
by more than is discounted in the market — and what's discounted in the market is very minor rising market — that will reverberate through
asset class
prices, as well as then you can have a situation in terms of the economy.
Republican critics say they fear that
by flooding the financial system with money, the Fed has inflated stock and real estate
prices and could create
asset bubbles that could pop with dangerous consequences for the economy.
Or multiply recast earnings
by 1.75 to 2.25 (for $ 136,200 to $ 175,115, using 1996 results) and then add the value of fixed
assets ($ 185,000), for a
price of $ 321,200 to $ 360,115.
The acquisition
price implies a total equity value of approximately $ 52.4 billion and a total transaction value of approximately $ 66.1 billion (in each case based on the stated exchange ratio assuming no adjustment) for the business to be acquired
by Disney, which includes consolidated
assets along with a number of equity investments.
Benchmark spot gold
prices were on course for an over 1 percent decline this week, pressured
by a thaw in tensions on the Korean peninsula and a stronger dollar as investors looked to riskier
assets such as equities.
As the global economy deteriorated in 2008, the collapse in virtually all
asset prices led to the unwinding of the yen carry trade, leading to it surging as much as 29 percent against the yen in 2008, and 19 percent versus the US dollar
by February 2009.
If a central bank eases monetary policy, it stimulates the economy, largely
by encouraging households and companies to borrow more and pushing up the
prices of many types of financial
assets.
Commonwealth Bank of Australia, the country's No 2 lender
by assets, on Monday said it raised A$ 2.1 billion ($ 1.55 billion) from institutional investors at A$ 78 a share, 9 percent higher than the offer
price.
After all, when a central bank influences the cost of financing through changes in the policy interest rate, its actions affect the economy
by changing
asset prices, encouraging or discouraging risk taking, and influencing credit flows.
The Congressional Budget Office defines
asset bubbles as: «An economic development in which the
price of a class of physical or financial
assets (such as houses or securities) rises to a level that appears to be unsustainable and well above the
assets» value as determined
by economic fundamentals.
The notion is that
by pursuing a slightly tighter monetary policy, the central bank would take out insurance against the risk that the rise in
asset prices is a bubble and that its busting would be disruptive.
One hint dropped on Tuesday
by Wang, who bought AMC Entertainment Holdings Inc. in 2012, was that he was looking at cinema
assets in Europe but
prices are too high right now.
Bond yields spiked, and
prices for a number of other financial
assets that had benefited from expectations of ongoing
asset purchases
by the Fed dropped precipitously, not just in the United States but in almost every other country.
Toronto - Dominion Bank sees as many as 90,000 jobs lost
by the end of the decade from the move and Eric Lascelles, chief economist at RBC Global
Asset Management, says higher minimum wages across Canada could boost consumer
prices by 0.5 percent over two years.
With Deutsche Bank suggesting that the recent rise in cryptocurrency
prices may be directly attributable to instability in those tokens» values, now is a good time for everybody, especially newcomers, to take a step back and think about what they expect to gain
by buying these digital
assets.
The ETFs are being structured
by Direxion
Asset Management, which has specialized in fund creation and nontraditional investments since 1997, and are designed to track the emerging bitcoin futures markets, not the
price of bitcoin proper.
Posted
by Jeff Rubin on November 17th, 2014 under SmallerWorldTags: carbon tax, climate change, oil
prices, Stranded
assets • 3 Comments
A bubble is an economic cycle characterized
by the rapid escalation of
asset prices followed
by a contraction.
It is notable that the WLI, which is sensitive to the
prices of risk
assets that have been supported
by massive worldwide liquidity injections, has hardly been swayed from its recessionary trajectory.
The latter is often practically impossible to do at short notice, or even if it is possible, may only be able to be carried out
by selling the
assets (such as loan portfolios) at fire - sale
prices.
It is created
by a surge in
asset prices unwarranted
by the fundamentals of the
asset and driven
by exuberant market behavior.
While the liberalizing reforms usually undermine the ability of the elite to capture a disproportionate share of growth, in other words, because the reforms often seem to encourage massive foreign capital inflows, and these push up the
price of
assets largely controlled
by the elite, political opposition to the reforms is weakened.
asset prices, driven up
by over-optimism about profit potential, spill over into investment decisions;
Add to that the fact that no fewer than four dealers bid on fulfilling every buy order placed
by Hard
Assets Alliance customers, and we're able to offer some of the most competitive
pricing on the planet.