Posted by seumasach on October 25, 2008
Sharp fall in output routs pound
24th October, 2008
Stocks slumped and the pound collapsed against the dollaryesterday as investors reacted to the worst decline in UK economic output since 1990 and investors around the world struggled to sell assets financed by cheap Japanese borrowing.
Posted in Financial crisis | Tagged: carry trades, collapsing pound, financial collapse | Leave a Comment »
Posted by seumasach on October 24, 2008
Harry Wallop
24th October, 2008
Though very few private investors have their money tied up in hedge funds, everyone who owns shares will be affected – including the estimated nine million people whose pensions are invested in the stock market.
Posted in Uncategorized | Tagged: financial collapse, hedge funds | Leave a Comment »
Posted by seumasach on October 24, 2008
This clarifies things greatly : both the dollar and the yen have been vehicles for “carry trades” with London at the their heart. Both currencies have surged massively against the pound in particular as these speculations unravel.
Peter Garnham
24th October, 2008
The yen surged higher on Friday, hitting 13-year highs against the dollar and pound and jumping to a six-year peak against the euro as panic gripped global markets and forced investors to abandon risky positions.
Posted in Financial crisis | Tagged: financial collapse, yen carry trade | Leave a Comment »
Posted by seumasach on October 23, 2008
John Lichfield
23rd October, 2008
President Nicolas Sarkozy would like to emerge as the economic “president” of Europe until 2010 – overseeing a united response to the world financial crisis by the 15 Euroland nations and Britain.
Posted in Uncategorized | Tagged: independent Europe, The battle for Europe | Leave a Comment »
Posted by seumasach on October 23, 2008
October 23, 2008 (LPAC)–“We’ve reached a situation of sheer panic,” Nouriel Roubini told the parasites assembled at the Hedge 2008 conference in London. “Hundreds of hedge funds are going to go bust.” “Don’t be surprised if policy makers need to close down markets for a week or two in coming days,” Roubini said.
“This will go down in the history books as one of the greatest fiascos of banking in 100 years,” said Emmanuel Roman, of hedge fund giant GLG Partners. “In a fairly Darwinian manner, many hedge funds will simply disappear,” he added. Read the rest of this entry »
Posted in Financial crisis | Tagged: derivatives, hedge funds | Leave a Comment »
Posted by seumasach on October 23, 2008
October 23, 2008 (LPAC)–On Oct. 21, Argentine President Cristina Fernandez de Kirchner announced the re-nationalization of the private pension system, known by its acronym AFJP, which was imposed on the country in 1994. This was a partial privatization, which financier interests had eventually hoped to complete, based on the model of Chilean dictator Augusto Pinchet. They were horrified then, when Fernandez accused the ten private funds of carrying out a “a policy of looting,” and asserted the State’s constitutional right to take control of them on behalf of the general welfare. People come before banks, she warned.
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Posted by seumasach on October 23, 2008
Ben Hall
23rd October, 2008
President Nicolas Sarkozy on Thursday said France would set up a new “strategic investment fund” to stop French companies from falling into the hands of foreign “predators”.
Posted in Uncategorized | Tagged: sovereign funds | Leave a Comment »
Posted by seumasach on October 23, 2008
Baghdad witnessed another demonstration with more than one million Iraqi, Arabs and Kurds and others, Muslims and Christians and others, Sunnis and Shiites and others demonstrated together against the occupation and the long term agreement, asking for a complete withdrawal the leaves no permanent bases, no troops, and no mercenaries.
Posted in Iraq | Leave a Comment »
Posted by seumasach on October 23, 2008
Gareth Porter
The final draft of the U.S.-Iraq Status of Forces agreement on the U.S. military presence represents an even more crushing defeat for the policy of the George W. Bush administration than previously thought, the final text reveals.
Posted in Drive to Global War, Iraq | Leave a Comment »
Posted by seumasach on October 22, 2008
Caracas, October 11, 2008
21st October, 2008
Academics and researchers from Argentina, Australia, Belgium, Canada, Chile, China, Cuba, Ecuador, France, Mexico, Peru, Phillipines, South Korea, Spain, United Kingdom, United States, Uruguay and Venezuela participated in The International Political Economy Conference: Responses from the South to the Global Economic Crisis, held in Caracas from the 8 to 11 October 2008. The conference stimulated a wide ranging debate on the current economic and financial health of the global economy, the new perspectives and the challenges to the governments and peoples of the South posed by the international financial crisis.
Posted in Financial crisis | Tagged: financial collapse | Leave a Comment »
Posted by seumasach on October 22, 2008
Posted in Uncategorized | Tagged: bolivia, referendum on constitution | Leave a Comment »
