Archive for the 'Economy' Category
Investment Landfill: Is Your Pension Fund a Dump for Toxic Waste?
June 30th, 2007Paul Tustain, the director of BullionVault, has written a special report on the Bear Stearns crisis. You should know that Paul is in the business of making gold ownership simple and efficient for individual investors. You should also know that I am a BullionVault client. Via: BullionVault (PDF): It starts with the humble mortgage. Lots […]
U.S. Family Tries Living Without China
June 29th, 2007I wrote a post about this several years ago, but Sara Bongiorni turned the exercise in to a book. Via: Reuters: Lamps, birthday candles, mouse traps and flip-flops. Such is the stuff that binds the modern American family to the global economy, author Sara Bongiorni discovers during a year of boycotting anything made in China. […]
Doctors Back Microchipping Plan
June 28th, 2007Tell me another one. Via: Yahoo / AFP: Doctors could soon be storing essential medical information under the skin of their patients, the American Medical Association says. Devices the size of a grain of rice that are implanted with a needle could give emergency room doctors quick access to the records of chronically ill patients, […]
Realtors Attend Worship Service to Pray for Better Real Estate Market
June 27th, 2007I love it! Via: North East Florida Daily News: More than 300 people with a keen interest in the Emerald Coast’s real estate market gathered Wednesday at Destiny Worship Center to ask for God’s blessing. The Real Estate Prayer Luncheon was organized in hopes of breathing life and positive thinking into the area’s slumping housing […]
When Hedge Funds Implode
June 27th, 2007Excellent article. Terrifying, but excellent. Via: Asia Times: The US trade deficit with the rest of the world leapfrogged in recent days. Aside from goods and services, the United States is now importing “consensus-based crisis management” from Japan. Out of fear that a cleanup of bad loans would trigger widespread defaults, Japanese banks got themselves […]
JAPAN WARNS ON CARRY TRADE RISK
June 27th, 2007WARNING: This is not a recommendation to buy, sell or hold any financial instrument. Woh. New Zealand dollar holders: If you’ve got ’em, consider spending ’em. Becky and I are adding to our “investment” portfolio by acquiring gold, guns and nappies. Your results may vary, batteries not included. It doesn’t make any sense to buy […]
Gold Down Sharply
June 26th, 2007WARNING: This is not a recommendation to buy, sell or hold any financial instrument. Gold is down sharply, trading around a five month low. From a technical perspective, closes under $650 are ominous for gold bulls… Unless you’re a gold bull who’s just happy to be able to buy more at a lower price. (Like […]
Bank for International Settlements: Risk of Depression
June 26th, 2007Via: The Age: THE risk of a 1930s-style economic slump has been heightened by “euphoric” markets tapping cheap global credit, one of the world’s pre-eminent financial institutions has said. In its annual report, the Bank for International Settlements noted that the conditions that led to the Great Depression of the 1930s and the Asian crises […]
Bear Stearns Wheel Comes Off the Cart: “Subprime Chernobyl,” “Systemic Risk Fall-Out,” “We Don’t Know What the Value of This Debt Is”
June 26th, 2007If I had one of those lame, flashing siren images, I’d use it here. Brace for impact. Via: Telegraph UK: The United States faces a severe credit crunch as mounting losses on risky forms of debt catch up with the banks and force them to curb lending and call in existing loans, according to a […]
Home Sales Hit Slowest Pace in Four Years
June 25th, 2007Via: Yahoo / AP: Reflecting further housing troubles, sales of existing homes fell in May to the lowest level in four years while the median home price dropped for a record 10th consecutive month. The National Association of Realtors reported Monday that sales of existing single-family homes and condominiums dropped by 0.3 percent to 5.99 […]
