Archive for the 'Economy' Category
CHINA: 36 MAJOR CITIES TOLD TO KEEP FOOD, OIL RESERVES
December 13th, 2007WARNING: This is not a recommendation to buy, sell or hold any financial instrument. PowerShares DB Agriculture Fund (DBA) NOTE: I am slightly overweight this one. If you look at the ongoing crises involved with food production, you see not just a perfect storm, but multiple perfect storms. — Cryptogon: Portfolio Ideas China is implementing […]
James Turk: Liquidity Won’t Help Insolvency
December 13th, 2007Of course, James Turk has more riding on gold than just about anyone, but this is a good read anyway. Via: Kitco: The Federal Reserve today announced a new scheme to inject more liquidity into the money markets. It cobbled together a partnership arrangement, as the Canadian, UK and European central banks also agreed to […]
Import Prices Rise 2.7%, the Most in 17 Years
December 13th, 2007WARNING: This is not a recommendation to buy, sell or hold any financial instrument. There’s lots of yammering about gold rising here, but until we break above 845, it’s range bound slop and whipsaws. Congratulations, though, to the Cryptogon falling knife catchers, who have done very well recently. Let me consult my Magic 8-Ball: All […]
U.S. DOLLAR HOLDERS MAY BE FORCED TO ACCEPT IMF RESERVE ASSETS IF THEY WANT TO DIVERSIFY; FLOOD OF DOLLARS THREATENS GLOBAL ECONOMY
December 12th, 2007WARNING: This is not a recommendation to buy, sell or hold any financial instrument. “This is the warning I’ve been repeating for years: You do not want to try to reach the exit as millions of other people attempt to do the same thing. Waiting for clarity is not often rewarded. — Cryptogon: Waiting for […]
Washington Mutual to Close 190 Offices
December 12th, 2007Via: San Francisco Chronicle: Washington Mutual Inc., the nation’s largest savings and loan, said Monday that problems in the mortgage and credit markets are forcing it to close offices, lay off more than 3,000 workers and set aside up to $1.6 billion for loan losses in its fourth quarter. Additionally, the company slashed its quarterly […]
Morgan Stanley Issues Full U.S. Recession Alert
December 11th, 2007What’s next? A prediction about the sun rising in the East? Via: Telegraph: Morgan Stanley has issued a full recession alert for the US economy, warning of a sharp slowdown in business investment and a “perfect storm” for consumers as the housing slump spreads. In a report “Recession Coming” released today, the bank’s US team […]
Cleveland: 6000 Applicants for 300 Jobs… At WalMart
December 11th, 2007Via: Plain Dealer: As the world’s largest private employer, Wal-Mart is used to being greeted by large numbers of applicants almost every time it opens a new store. But the 6,000-plus people who applied for jobs at the new Supercenter in Cleveland’s Steelyard Commons took everyone, even Wal-Mart, by surprise. “We had to recount [the […]
Iran Stops Selling Oil in U.S. Dollars
December 9th, 2007Via: Reuters: Iran has completely stopped selling any of its oil for U.S. dollars, an Iranian news agency reported on Saturday, citing the oil minister of the world’s fourth-largest crude producer. The ISNA news agency did not give a direct quote from Oil Minister Gholamhossein Nozari. A senior oil official last month said “nearly all” […]
Straight Talk on the Mortgage Mess from an Insider
December 8th, 2007This is a good one. Highly recommended. Via: Market Watch: The ‘Pay-Option ARM implosion’ will carry on for a couple of years. In my opinion, this implosion will dwarf the ’sub-prime implosion’ because it cuts across all borrower types and all home values. Some of the most affluent areas in California contain the most Option […]
The Merk Hard Currency Fund
December 7th, 2007WARNING: This is not a recommendation to buy, sell or hold any financial instrument. If you’re looking for a comprehensive hedge for your U.S. Dollar exposure, the Merk Hard Currency Fund deserves serious consideration. The fund holds a basket of currencies, sovereign debt and gold. See: Fund Facts. Expenses: 1.3%. I don’t have any relationship […]
