More Mortgage Lenders to Close as Impact of Real Estate Slump Hits

Posted by Bill Bonner on Sep 13th, 2007 The Dow bounced right back – up 180 points Tuesday. Gold soared over US$721. What do you think, dear reader? Both went up…but which is the surer bet? We have our opinion. What bothers us is that it is too obvious. Central banks and financial intermediaries have […]

Fed can’t stop recession

Even if the central bank starts to cut rates aggressively, many of the risks for the U.S. economy are beyond its reach. By Chris Isidore, CNNMoney.com senior writer September 13 2007: 1:35 PM EDT NEW YORK (CNNMoney.com) — Problems in housing, the financial markets and the first job decline in four years have made a […]

Soup Kitchen U.S.A.

By Mike Whitney   “Credit booms do not end in inflation as most people believe. Credit booms ARE inflation that end in deflation. This credit boom is not any different.”   Mike Shedlock, “Mish’s Global Economic Trend Analysis”     09/11/07 “ICH” — — The days of the dollar as the world’s “reserve currency” may be drawing to a […]

Retirement Funds Vanish as Bankruptcies Hit Tax-Deferred Scheme

By Erik Larson Sept. 11 (Bloomberg) — Marsha Slotten’s bad news came in April by e-mail, from a tipster warning that the company holding her retirement nest egg had collapsed. After racing in a panic to the office of Southwest Exchange Inc. outside Las Vegas, she found a locked door and a sign saying the […]

Realtors Cut Forecast, Say Slump Will Extend to 2008

By Kathleen M. Howley Sept. 11 (Bloomberg) — The National Association of Realtors reduced its home sales forecast for the ninth time this year and said the housing slump will extend into 2008. Existing home sales will fall 8.6 percent in 2007, exceeding the 6.8 percent drop estimated a month ago. New-home sales probably will […]

NZ Super Fund just grows and grows

By Graeme Hunt Adrian Orr says the fund is committed to ‘responsible investment’. Photo / Paul Estcourt It’s less than four years since the country’s most unusual Crown entity started investing with $2.4 billion of Government money. It received a further $7.7 billion from the state along the way and now has a fund worth […]