Archive for the 'Economy' Category
Home Prices: Record Plunge in September
November 25th, 2008Via: Reuters: Prices of single-family homes in September plunged a record 17.4 percent from a year earlier, according to the Standard & Poor’s/Case-Shiller Home Price Indices issued on Tuesday. The composite index of 20 metropolitan areas fell 1.8 percent in September from August, S&P said in a statement. It said its composite index of 10 […]
Change: Timothy Geithner, (Fed, IMF, Kissinger Associates, CFR, BIS) Nominated for U.S. Treasury Secretary
November 24th, 2008This is Geithner’s bio from the New York Fed. I’ve emphasized a few little mom and pop outfits that any agent of Change/Hope would obviously be involved with. By some miracle, though, he’s not a former CEO of Goldman Sachs!* *But read the Bloomberg piece below.: Timothy F. Geithner became the ninth president and chief […]
Dollar Hit Hard
November 24th, 2008WARNING: This is not a recommendation to buy, sell or hold any financial instrument. From a few days ago: U.S. Dollar Index Shows Strong Divergence Pattern: There’s potential for a sharp move lower on the dollar in the near term. Indicator trends should be moving with the index trend, but the trends on the indicators […]
40,000 Swarm Farm to Gather Free Food
November 24th, 2008A few of you have placed large orders with Nitro-Pak. If you needed a reason as to why you might want to keep that information to yourself, take a look at this one. Via: Washington Post: A farm couple got a huge surprise when they opened their fields to anyone who wanted to pick up […]
Japanese Economists Consider Asking for Yen Denominated U.S. Treasuries
November 24th, 2008I really don’t see this happening. Drawing analogical comparisons with the Carter era is a stretch because the debt back then was practically nothing compared to what it is now. What does that mean for countries hoping to see U.S. Treasures issues in different currencies? The dollar’s days are numbered and once it resumes its […]
Gold Hits 5-Week High, Financial Crisis Fuels Demand
November 24th, 2008WARNING: This is not a recommendation to buy, sell or hold any financial instrument. The resistance at $850 could be a serious bitch for longs. Sorry to rain on the parade, but $850 is probably going to be tough. Via: Bloomberg: Gold jumped to a five-week high on Monday as investors piled in seeking safety […]
FED PLEDGES TOP $7.4 TRILLION
November 24th, 2008Adrift in a squall. Snapped mast. No rudder. Taking on water. Via: Bloomberg: The U.S. government is prepared to lend more than $7.4 trillion on behalf of American taxpayers, or half the value of everything produced in the nation last year, to rescue the financial system since the credit markets seized up 15 months ago. […]
EMERGENCY: CITIGROUP
November 24th, 2008The U.S. Taxpayer is about to eat the catastrophic losses that have been generated by the world’s largest bank. Via: BBC: Executives of Citigroup, one of the biggest banks in the US, are in emergency talks with the US Treasury to gain much-needed funding, reports say. The bank is also said to have contacted certain […]
Hedge Fund Manager: All Major U.S. Financial Companies Will Be Nationalized Within a Year
November 23rd, 2008Via: CNBC: It’s not preferable, but all major U.S. financial companies will eventually be under government control because the alternative is so much worse, Hugh Hendry, chief investment officer at hedge fund Eclectica Asset Management, said Friday. “All financials will be owned by the U.S. government in a year,” Hendry said. “I bet you.” Nationalizations […]
IMF Chief Economist: “The Worst is Yet to Come”
November 23rd, 2008Via: AFP: The IMF’s chief economist has warned that the global financial crisis is set to worsen and that the situation will not improve until 2010, a report said Saturday. Olivier Blanchard also warned that the institution does not have the funds to solve every economic problem. “The worst is yet to come,” Blanchard said […]
