Archive for September, 2007
U.K.: Strong Decline in Housing Prices
September 18th, 2007Could the top finally be in on that thing? Via: in2perspective: The Rightmove monthly report shows a 2.6% decline in house prices across England and Wales in the last month. Rightmove, the largest advertiser of property for sale in England and Wales, has published figures showing the largest monthly fall in asking prices since the […]
Australia Cuts Grain Crop Estimate 31% on Dry Weather
September 18th, 2007We’re pouring on the joy and happiness today… Via: Bloomberg: Australia cut its forecast for barley, wheat and canola crops 31 percent on dry weather, adding pressure to shrinking world supplies that have driven up prices. Total grain output may be 25.6 million metric tons in the harvest starting October, the Canberra-based Australian Bureau of […]
OIL RECORD
September 18th, 2007Another eddy current to add to the perfect storm. Via: IHT: Oil prices climbed to a fresh high above US$81 a barrel amid hopes that the U.S. Federal Reserve will cut a key interest rate later Tuesday, a move the market believes would bolster the economy and strengthen petroleum demand in the world’s largest energy […]
Collapsitalism: What I’d Keep in My Collapse Portfolio
September 18th, 2007WARNING: This is not a recommendation to buy, sell or hold any financial instrument. NOTE: I am a BullionVault client and affiliate. I have no relationship with Everbank. I have no relationship with Powershares. I hold gold, U.S. dollars and New Zealand dollars. – – – – – Becky and I don’t have much money […]
Question Kerry About Skull and Bones Membership, Get Tased
September 18th, 2007Via: Youtube:
U.S. Treasury Secretary: Prepare for Prolonged Turmoil
September 18th, 2007Does anyone understand the French connection here? Via: Times Online: Investors should brace themselves for a prolonged period of market turmoil, Henry Paulson, the US Treasury Secretary, said yesterday as he held emergency meetings with the Chancellor and the French Finance Minister. Mr Paulson flew to London to discuss the financial crisis with Alistair Darling […]
EMERGENCY: U.K. GOVERNMENT TO COVER 100% OF DEPOSITS
September 18th, 2007WARNING: This is not a recommendation to buy, sell or hold any financial instrument. An overnight shift in policy from covering roughly £30,000 worth of deposits to 100% of deposits!? Sterling holders, consider reducing or eliminating your exposure to GBP denominated assets immediately. If a bank CEO tells me not to panic, I’d remove my […]
Alliance & Leicester Denies Problems After Shares Plunge
September 18th, 2007Remember the roughly $1 billion dollar bet that the Eurostoxx 50 index would decline sharply in September? Those put options expire on the 21st. What follows is almost certainly worthless rambling, but I’m going to do it anyway, just in case: Let’s assume that the option bet isn’t simply cost-of-doing-business hedging for some large fund. […]
Blackwater’s License to Operate in Iraq Has Been Cancelled Following Atrocity
September 17th, 2007Via: AFP: Iraq has ordered the cancellation of the operating licence of US security firm Blackwater after it was involved in a shootout in Baghdad that killed eight people, a senior official told AFP on Monday. Blackwater offers personal security to US officials working in Iraq. “The interior minister (Jawad al-Bolani) has issued an order […]
Greenspan Says Euro Could Replace U.S. Dollar as Reserve Currency of Choice
September 17th, 2007Via: International Herald Tribune: Former U.S. Federal Reserve chairman Alan Greenspan said it is possible that the euro could replace the U.S. dollar as the reserve currency of choice. According to an advance copy of an interview to be published in Thursday’s edition of the German magazine Stern, Greenspan said that the dollar is still […]
