Interesting Stories Of The Day
Taxpayers May Be Liable for Billions From Bear, Mortgage Rescue
Even as the Bush administration insists it won’t risk public funds in a bailout, American taxpayers may already be liable for billions of dollars stemming from Federal Reserve and Treasury efforts to quell a financial crisis. History suggests the Fed may not recover some of the almost $30 billion investment in illiquid mortgage securities it received from Bear Stearns Cos…..Read On
Paulson Says New Financial Rules Needed
If big Wall Street investment houses are allowed to run to the Federal Reserve for emergency lending, they must face stepped-up regulation, Treasury Secretary Henry Paulson declared Wednesday…..Read On
Demand for durable goods falls 1.7% in Feb
The unexpected decline in orders for big-ticket items marked the second straight monthly drop, an indication that domestic demand is weakening faster than exports can grow. “This is another report that has a strong recessionary feel about it,” wrote John Ryding, chief U.S. economist for Bear Stearns…..More
New Home Sales Drop for a Fourth Month
Sales of new homes fell in February for the fourth straight month, pushing activity down to a 13-year low. While the rate of decline has slowed, the worst slump in more than two decades has not run its course, analysts said…..More
Banks Bleeding Value And Hiding Desperation as US Housing Slump Continues
The decline in fixed asset values continues. Homes. Shopping Centers. Commercial and industrial properties. Land. And the decline is not done. Not by a long shot. According to National Association of Realtors data, average American home prices have declined by ~ 13% from their high in June 2007 to January 2008. Unit sales were down ~ 23% during this seven month period. Although unit sales are expected to increase this spring, property valuations are still under downward pressure…..More
Caterpillar CEO: US Likely Into a Recession
The head of Caterpillar, the world’s largest maker of earthmoving equipment, said on Wednesday the U.S. economy is probably in a recession and is unlikely to start recovering until late this year……More
Global Stock Market Forecasts and Outlook for 2008
Given current uncertainty and volatility, it is more difficult than usual to project an outlook for the global stock markets 12 months forward, therefore to be able to generate an outlook there is first a need to arrive at key assumptions that will impact on stock prices going forward before I turn my attention to the technical picture contained within the stock charts……More