Archive for the 'Economy' Category
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 […]
Bloomberg: “The Worst is Yet to Come for the U.S. Housing Market”
June 22nd, 2007Mainstream news seems to be catching up with Cryptogon warnings from two years ago. Nice work guys. Via: Bloomberg: The worst is yet to come for the U.S. housing market. The jump in 30-year mortgage rates by more than a half a percentage point to 6.74 percent in the past five weeks is putting a […]
Currency Markets Bitch Slap Reserve Bank of New Zealand; Kiwi Still Rising
June 21st, 2007WARNING: This is not a recommendation to buy, sell or hold any financial instrument. The Kiwi Dollar ship of fools is riding the yen carry trade tsunami even higher. Of course, the mast has snapped, the rudder fell off and the crew is passed out drunk. Via: Forbes: The New Zealand dollar was higher, shrugging […]
Vertical Farming in the Big Apple
June 20th, 2007I know. Urban hipsters want iPods, free love and electric SUVs. Absolutely any technology or policy that offers a glimmer of hope of keeping things going will be embraced with religious ferocity, regardless of the level of absurdity. As more and more people give up on the political process, they will seek comfort in the […]
The Plan to Disappear Canada
June 19th, 2007Via: The Tyee: If the machinations going on in this country regarding so-called “deep integration” were instead a communist conspiracy to take over the country (you will, of course, have to try hard to imagine this) the news media would be blaring the story. Pundits would pontificate, editorialists would erupt, security forces would be unleashed. […]
