Grand Rapids, MI -- (ReleaseWire) -- 04/09/2013 -- Financial advisor Dennis Tubbergen enjoys keeping his clients up to date with his weekly newsletter, his financial blog, and his weekly radio show. This week on The Everything Financial Radio Show, Tubbergen hosts Jeff Kennedy, an analyst for Elliott Wave International.
If you have missed any of financial advisor Dennis Tubbergen's weekly radio broadcasts featuring guest experts, an easy way to catch up on them is to go to his radio website at www.everythingfinancialradio.com and listen to the podcasts of his shows. The Everything Financial Radio Show is syndicated on two Michigan metro stations.
Tubbergen, who is an author, radio show host, and CEO of PLP Advisors, LLC, also spends a lot of time giving his opinions on the economy in his Moving Markets weekly newsletter at www.moving-markets.com and in his online financial blog. On April 4, 2013 Tubbergen's blog was titled Spain's Recession Deepens.
"Much of the Eurozone is in a deflationary spiral due to the inability of Eurozone countries to print money," began Tubbergen. "Technically defined, deflation is a contraction of the money supply. The results of deflation are falling prices, falling wages and rising unemployment. Spain is one of the Eurozone countries experiencing the painful effects of deflation as reported by an article on CNBC."
Tubbergen quotes below from the March 26, 2013 article.
Spain's economy will sink deeper into recession this year, the Bank of Spain said on Tuesday, sending a stark message to the government as it prepares to revise its own growth forecast.
In its annual update of economic forecasts, the central bank said it saw Spain's economy shrinking by 1.5 percent in 2013 following a 1.4 percent contraction last year as austerity continues to exacerbate the effects of a burst property bubble.
The central bank's new estimate is well below the official forecast of 0.5 percent of GDP, although the government is widely expected to revise that figure downwards in April.
The Bank of Spain prediction is broadly in line with consensus, with most economists expecting the economy to struggle to return to growth this year on the back of dire domestic demand and a weakening external sector.
Spain sank into its second recession since 2009 at the end of 2011 as the fallout from a property bust five years ago continued to weigh on every aspect of economic activity, from its beleaguered banks to high street sales.
The Bank of Spain data suggested the quarterly contraction in the first three months of this year had been less pronounced than in the last quarter of 2012 when the gross domestic product shrank at the fastest rate since the beginning of 2009.
It said the Spanish economy would exit the recession and register a 0.6 percent growth in 2014.
Spain's Economy Minister Luis de Guindos said in an interview on Sunday he expected the economy to return to quarterly growth by the end of 2013 and expand almost 1 percent next year.
But unemployment is likely to hit another record high of 27.1 percent in the course of the year, the bank said, up from a current 26 percent, one of the highest rates in the euro zone.
It also said the country's public deficit would reach 6 percent of gross domestic product for 2013, above targets set by Europe of 4.5 percent of GDP, and 5.9 percent of GDP next year.
"Lest you think that Spain's financial problems are somehow far worse than those faced in the United States, consider that Spain's deficit of 6 percent of gross domestic product is far less than the U.S.' deficit when measured as a percentage of gross domestic product," warned Tubbergen. "The U.S. deficit last year was about 8.7 percent of GDP, about 45 percent higher than Spain's."
To read the blog in its entirety go to www.dennistubbergen.com and select his April 4, 2013 entry.
Tubbergen’s syndicated radio show can be heard on metro Michigan stations WTKG 1230 AM and WOOD Newsradio1300 AM and 106.9 FM.
About Dennis Tubbergen
Dennis Tubbergen has been in the financial industry for over 25 years and has his corporate offices in Grand Rapids, Michigan. Tubbergen is CEO of PLP Advisors, LLC and has an online blog that can be read at www.dennistubbergen.com. To view Tubbergen’s latest Moving Markets? newsletter, go to www.moving-markets.com.
The opinions expressed herein are those of the writer and not necessarily those of USA Wealth Management, LLC. This update may contain forward-looking statements, including, but not limited to, statements as to future events that involve various risks and uncertainties. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual events or results to differ materially from those that were forecasted. Therefore, no forecast should be construed as a guarantee. Prior to making any investment decision, individuals should consult a professional to determine the risks, costs, benefits and fees associated with a particular investment. Information obtained from third party resources is believed to be reliable but the accuracy cannot be guaranteed.