Archive for the 'Economy' Category
GERMAN FUND HALTS REDEMPTIONS
August 7th, 2007It’s just like musical chairs, boys and girls. Via: Bloomberg: Frankfurt Trust, the mutual fund manager of Germany’s BHF-Bank, stopped withdrawals from a fund after clients removed 20 percent of their money since the end of July amid concern about the U.S. subprime loan debacle. The FT ABS-Plus fund, which includes residential mortgage- backed securities […]
Abandoned Homes Taken Over by Weeds, Swimming Pools Breed Mosquitoes
August 6th, 2007Introductory rates starting at just 1.2%! Call now! Via: Arizona Republic: City code enforcers and county mosquito patrols across the Valley say they’re seeing a spate of weeds and green pools in places they never used to: newer neighborhoods with higher-priced homes. Increasing numbers of these properties are being abandoned by cash-strapped owners, leaving messes […]
Surge: Afghanistan Now Responsible for 95% of Global Opium Production
August 5th, 2007The people behind this represent the real Plunge Protection Team. Via: Yahoo / AP: Afghanistan will produce another record poppy harvest this year that cements its status as the world’s near-sole supplier of the heroin source, yet a furious debate over how to reverse the trend is stalling proposals to cut the crop, U.S. officials […]
The Chinese “Miracle” Will End Soon [sic]
August 4th, 2007Yesterday wouldn’t be soon enough. Via: Spiegel: The world has been dazzled in recent years by the economic strides being made by China. But it has come at a huge cost to the country’s environment. Pollution is a serious and costly problem. Pan Yue of the ministry of the environment says these problems will soon […]
Jim Cramer Goes Nuts Live on TV, Talks About Armageddon
August 4th, 2007This is funny, unless you plan on relying on fixed income securities for something besides toilet paper. Cramer is like a smack addict, locked in a padded room, who will do anything for another hit: MORE CREDIT!!! MORE CREDIT!!! MOOOOOOOOORE CREDDDDDDDIT! Pulling out the last strands of hair on his head, clawing out his eyeballs… […]
Unpaid Teens Bag Groceries for Wal-Mart
August 2nd, 2007Always low prices. Via: MSNBC: Wal-Mart is Mexico’s largest private-sector employer in the nation today, with nearly 150,000 local residents on its payroll. An additional 19,000 youngsters between the ages of 14 and 16 work after school in hundreds of Wal-Mart stores, mostly as grocery baggers, throughout Mexico—and none of them receives a red cent […]
World Stocks in Meltdown Over U.S. Economy Fears
August 1st, 2007Via: Yahoo / AFP: European and Asian stock markets plummeted Wednesday, mirroring heavy losses the previous day in New York, on mounting fears that weakness in the US housing sector could infect the world economy.
Crash Alert: 5 Steps to Take Immediately
August 1st, 2007For the dawdlers out there, this is decent info re: gambling and paper games. Via: Money and Markets: With last week delivering the worst stock market rout in nearly five years, millions of investors are in a state of paralysis. They’re finally beginning to wake up to the enormity of the meltdown in the housing […]
BEAR STEARNS HALTS REDEMPTIONS ON THIRD HEDGE FUND
August 1st, 2007Via: Bloomberg: Bear Stearns Cos., manager of two hedge funds that collapsed last month, halted redemptions from a third fund after a slump in credit markets prompted investors to demand their money back. The Bear Stearns Asset-Backed Securities Fund had about $900 million invested in asset-backed securities, including mortgage bonds, spokesman Russell Sherman said today […]
Charts: Mass Foreclosures Threaten the U.S.
July 31st, 2007Traders have a word for chart patterns like these: breakout. Via: Efinance Directory: Home foreclosure activity continues to soar nationwide over the past year, particularly in the states of Nevada, California, Arizona, and Florida. We’ve compiled a detailed analysis of the foreclosure crisis, including up-to-date graphs depicting recently reported foreclosure activity for these states.
