Archive for the 'Economy' Category
S&P 500 Heads for Worst Month Since 1938
October 26th, 2008Via: Bloomberg: U.S. stocks tumbled this week, driving the Standard & Poor’s 500 Index toward the steepest monthly loss since 1938, on concern the global economy is sliding into a recession. Alcoa Inc., Citigroup Inc. and Hewlett-Packard Co. retreated the most in the Dow Jones Industrial Average, losing more than 18 percent, as investors bet […]
Tens of Thousands of Australians Are Unable Access Savings After Investment Companies Suspended Withdrawals
October 25th, 2008Via: The Age: PRESSURE on the Federal Government over its bank deposit guarantee has escalated after three big financial institutions hit with a spate of withdrawals by customers last night froze their accounts. Tens of thousands of Australians, many of them retirees, are now unable to get immediate access to their capital after AXA Asia […]
October 24: The 1929 Wall Street Crash Began on the Same Day
October 24th, 2008Via: Wikipedia: The Wall Street Crash of 1929 … was the most devastating stock market crash in the history of the United States, taking into consideration the full extent and longevity of its fallout. Three phrases – Black Thursday, Black Monday, and Black Tuesday – are used to describe this collapse of stock values. All […]
CRASH ALERT: S&P500, DOW AND NASDAQ FUTURES LIMIT DOWN
October 24th, 2008Via: Bloomberg: Futures contracts on the Standard & Poor’s 500 Index and Dow Jones Industrial Average plunged by their daily limits on growing concern the financial crisis has infected the broader economy. General Motors Corp. declined 13 percent and Ford Motor Co. lost 14 percent after Toyota Motor Corp., the world’s second- largest automaker, reported […]
Roubini Says ‘Panic’ May Force Market Shutdown
October 24th, 2008Via: Bloomberg: Hundreds of hedge funds will fail and policy makers may need to shut financial markets for a week or more as the crisis forces investors to dump assets, New York University Professor Nouriel Roubini said. “We’ve reached a situation of sheer panic,” Roubini, who predicted the financial crisis in 2006, told a conference […]
Confusion Reigns: A Crisis-Driven Global Rush to Dollar Liquidity Is Not Deflation
October 23rd, 2008Highly recommended reading. Via: iTulip: In the crisis stage of a debt deflation, defined by Fisher and Minsky as a reduction in debt financing, credit and money market panic causes banks to stop lending and borrowing from each other, pay off existing loans to shore up their balance sheets, and build reserves against expected future […]
Treasury Blacks Out Parts of Private Bailout Contracts Dealing with Compensation to Firms
October 23rd, 2008Via: BailoutSleuth: When the Treasury Department’s bailout czar provided an update this week on the government’s $700 billion plan to rescue troubled financial institutions, he vowed that it would be an “open and transparent program with appropriate oversight.” The next day, the Treasury Department put out an announcement about a major bailout-related contract with Bank […]
Gold Slaughter
October 23rd, 2008Via: MarketWatch: Gold futures fell 5% Thursday to below $700 an ounce for the first time in 13 months, as fund liquidation and the U.S. dollar’s rise continued to pound commodity markets for a second day. Copper slumped more than 6%. Gold for December delivery dropped $36.70 to $698.50 an ounce on the Comex division […]
U.S Foreclosure Filings Up 71 Percent in Third Quarter
October 23rd, 2008Via: AP: The number of homeowners ensnared in the foreclosure crisis grew by more than 70 percent in the third quarter of this year compared with the same period in 2007, according to data released Thursday. Nationwide, nearly 766,000 homes received at least one foreclosure-related notice from July through September, up 71 percent from a […]
Have You Checked the Prices of Technocrack Lately?
October 23rd, 2008My six-year-old Dell Inspiron 4150 laptop is experiencing some sort of heat management issue. The fan is running fast most of the time now. I’ve fooled around with all the settings, trying to underclock the CPU, etc. No luck. There are no rogue processes to blame either. Additionally, the graphics card is sometimes failing to […]
