Archive for the 'Economy' Category
$1.3 Trillion in Writedowns; Only 1/3 of the Way Through Credit Crisis
June 18th, 2008Via: Bloomberg: John Paulson, founder of the hedge fund company Paulson & Co., said global writedowns and losses from the credit crisis may reach $1.3 trillion, exceeding the International Monetary Fund’s $945 billion estimate. “We’re only about a third of the way through the writedowns,” Paulson, 52, told the GAIM International hedge fund conference in […]
RBS ISSUES GLOBAL STOCK AND CREDIT CRASH ALERT
June 18th, 2008Via: Telegraph: The Royal Bank of Scotland has advised clients to brace for a full-fledged crash in global stock and credit markets over the next three months as inflation paralyses the major central banks. “A very nasty period is soon to be upon us – be prepared,” said Bob Janjuah, the bank’s credit strategist. A […]
Fed Report Shows Americans Have Less Home Equity Than Ever Before
June 18th, 2008Via: HomeGude123: Home equity is defined as the market value of a property minus the amount owed on mortgage debts. Since homes are the biggest asset that most people have, equity is pretty important. Unfortunately for the American people, home equity is a dwindling resource. A Federal Reserve report released Thursday shows the amount of […]
Iran Withdraws $75 Billion from Europe
June 16th, 2008Via: Reuters: Iran has withdrawn around $75 billion from Europe to prevent the assets from being blocked under threatened new sanctions over Tehran’s disputed nuclear ambitions, an Iranian weekly said. Western powers are warning the Islamic Republic of more punitive measures if it rejects an incentives offer and presses on with sensitive nuclear work, but […]
Stage Two of the Mortgage Collapse: $500 Billion in Pay Option ARMs Meet the Piper in 2008 with 60 Percent Being in California
June 16th, 2008Via: Dr. Housing Bubble: The next stage of the mortgage debacle is only starting to rear its ugly head and all early signs tell us that this is going to be even worse than the subprime mortgage collapse. We need to remember that the subprime mortgage debacle was only one facet of a global debt […]
Oil Surges to Record High Near $140
June 16th, 2008I guess the Saudis should have said that they were going to buy dollars instead. Via: Reuters: Oil surged to a new record high on Monday of nearly $140 a barrel, propelled by weakness in the U.S. dollar which offset the bearish impact of plans by Saudi Arabia to boost output. U.S. light, sweet crude […]
Australia: Bank in Crisis as Shares Collapse
June 15th, 2008Via: The Age: ONE of Australia’s biggest investment banks, Babcock & Brown, is in crisis after a collapse of investor confidence that sent its share price plummeting more than a third in two days. The sell-off sent shockwaves across an already jittery sharemarket, and has raised fresh questions about the long-term viability of the business […]
Plan Would Lift Saudi Oil Output to Highest Ever
June 14th, 2008What does one have to do to get on the list of traders who receive Saudi planned oil production numbers before the information is announced? Actually, I don’t want to know. It will be very interesting to watch how this unfolds on Monday. Via: New York Times: Saudi Arabia, the world’s biggest oil exporter, is […]
University of Illinois Crop Scientist: Planting After June 20 May Cause Yields to Shrink by Half
June 12th, 2008Via: Grainnet: A costly deadline looms for many growers in the Midwest, as every day of waiting for the weather to cooperate to plant corn and soybeans reduces potential yields. Research indicates that Illinois growers who plant corn or soybeans near the end of June can expect a 50 percent reduction in crop yield, according […]
Oil Symmetrical Triangle Intraday
June 11th, 2008WARNING: This is not a recommendation to buy, sell or hold any financial instrument. Really quick, watch that symmetrical triangle forming on the intraday charts. Translation: Breakout higher from previous range possible. It could go sharply higher on this formation. West Texas Intermediate Crude, 1 Hour Interval
