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Archive for the ‘Financial crisis’ Category

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Bubble, bubble, toil and trouble

Posted by smeddum on August 25, 2009

25 Aug 2009

David Stevenson

ifaonline

Bubbles are a wondrous affair, and, according to the aficionados, easy to spot from afar.
The ever insightful US economist Nouriel Roubini reminds us of the sadly predictable cycle of euphoria and despair (first described by Hyman Minsky) with a simple set of stages that starts with investors meeting their investments out of cashflow, which then moves on to speculative borrowers, and finally crashes with Ponzi borrowers who can’t service either the interest or the principal.
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Investment watch: Don’t join the FTSE optimists now

Posted by smeddum on August 24, 2009

By Daniel Grote

24 August 2009

citywire


The current rally may well have come too far, too fast.

In the days when football was played by real men, rather than £80 million prima donnas, there was a remedy that could be relied on to treat almost any injury: the magic sponge. Whether you’d sprained your ankle, broken your leg or whacked your head, the good old magic sponge would sort you out, son. Read the rest of this entry »

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Uh Oh. … Trouble Dead Ahead

Posted by smeddum on August 24, 2009


Karl Denninger
Market Ticker

Aug 22, 2009

While I disagree with pretty much everything Jim Willie writes when it comes to metals and such, every squirrel finds a nut once in a while:

click to enlarge

You can read the original article at the above link, or I’ll just point out the important parts:foreigners are rejecting virtually all forms of US debt, most specifically corporate and agency (mortgages.) Read the rest of this entry »

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Default Risk Too High for World’s Taste

Posted by smeddum on August 23, 2009

Default Risk Too High for World’s Taste

August 23, 2009

Seeking Alpha

It was another Ponzifest on Wall Street Friday as better than expected home sales took stocks to new highs.

There was also a negative side in this report: Home inventories failed to shrink as more condos were dumped onto the market. This part of the news, of course, was ignored as Wall Street’s bubble making machine rolled on. Read the rest of this entry »

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Radio: Jim Willie- Under pressure- US economic collapse

Posted by smeddum on August 19, 2009

http://www.contraryinvestorscafe.com/partners.php?pid=62242

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Standard & Poor’s criminal activities proven by William K. Black

Posted by smeddum on August 18, 2009

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Stock Market to crash again in 2009?

Posted by smeddum on August 18, 2009

Finance Markets

August 14, 2009

by Brian Turner

Stock Market to crash again?

Bob Janjuah, chief credit strategist at RBS, is predicting that we’re heading for another stock market crash this autumn.

Before the bulls cry “doomsayer!”, let’s note that at a similar time last year Bob Janjuah successfully predicted the stock market crash for the autumn of 2008.

Coverage is highlighted by Ambrose Evans-Pritchard at the Telegrah: RBS uber-bear issues fresh alert on global stock markets: Read the rest of this entry »

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The Secret of China’s miracle economy: the government owns the banks rather than the reverse

Posted by smeddum on August 18, 2009

Ellen Brown,

August 17th, 2009

www.webofdebt.com/articles/secret_of_china.php

“The banks — hard to believe in a time when we’re facing a banking crisis that many of the banks created — are still the most powerful lobby on Capitol Hill. They frankly own the place.”

— U.S. Senator Dick Durbin, Democratic Party Whip, April 30, 2009

While the U.S. spends trillions of dollars to bail out its banking system, leaving its economy to languish, China is being called a “miracle economy” that has decoupled from the rest of the world. As the rest of the world sinks into the worst recession since the 1930s, China has maintained a phenomenal 8% annual growth rate. Those are the reports, but commentators are dubious. They ask how that growth is possible, when other countries relying heavily on exports have suffered major downturns and remain in the doldrums. Economist Richard Wolff skeptically observes: Read the rest of this entry »

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Foreclosure-fueled decline in home ownership rate may be lasting trend

Posted by smeddum on August 18, 2009

Foreclosure-fueled decline in home ownership rate may be lasting trend
Number of renters may rise to levels last seen in 1970s or ’80s

By Dan Voorhis

Chicago Tribune

McClatchy/Tribune news
August 18, 2009

Home ownership is on the decline nationally after rising to record levels in 2005, as the epidemic of foreclosures continues.

The rate of home ownership peaked at 69 percent and fell to 67.4 percent in the second quarter of this year. That may seem a slight difference, but every percentage point equals roughly 1 million people. Read the rest of this entry »

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Quiz top bankers on live TV, says Snip boss

Posted by smeddum on August 18, 2009

Irish Examiner

By Paul O’Brien, Political Correspondent

TUESDAY, AUGUST 18, 2009

SENIOR bankers should be hauled before a televised Oireachtas inquiry to explain how they made such “a mess” that they required a State bailout, said the chairman of An Bord Snip. Read the rest of this entry »

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Lowe’s 2Q profit falls 19 pct; shares fall

Posted by smeddum on August 17, 2009

Aug 17, 2:33

Lowe’s 2Q profit falls 19 pct; shares fall

By MAE ANDERSON

Heald Zeitung

NEW YORK (AP) — No. 2 home-improvement retailer Lowe’s Cos. on Monday said second-quarter earnings fell 19 percent on weaker-than-expected sales, adding fresh fuel to doubts about the ability and willingness of consumers to lead the U.S. economy out of recession. Read the rest of this entry »

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