December 2008 Early Indications: The Predictions Issue
Given a year in which oil prices inflicted broad economic pain -- then fell $100 a barrel, a Republican president nationalized key banks, ... the encore. Volatility is obviously on everyone's mind, bad people from Wall Street to Mumbai are doing outrageously bad things, and the quality of news we receive about the state of the world [more...]
Date: 2008-12-23 18:25:00
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Gary Dorrien: What Kind of Country?
The cash for trash bailout currently making its way through Congress will hopefully prevent the U.S. economy from suffocating. We're all cooked if the banks cannot find a way to lend money to good enterprises. The financial crisis and bailout are so huge they will severely impede whatever plans President Obama or President McCain had for his [more...]
Date: 2008-10-03 14:01:42
What is a bear market rally?
As the global financial crisis plays out, Report on Business writer Richard Blackwell examines and explains the economic outlook and the turmoil in credit and stock markets. Here, we answer your questions daily, with the most recent at the top ... plants. However, some of the gas consumed in Ontario is imported from the United States [more...]
Date: 2009-01-08 11:05:51
The Bank “Gaming” Culture
There is a “gaming” culture in the US Banking system that is has survived the Financial Meltdown - call it “the never give the suckers an even ... divestment. Citi as credit card provider lasted for two years when I found their practices so bad ... : Now lets be clear - I have never dealt with Citibank except through a credit card which [more...]
Date: 2008-11-28 21:15:39
Debt Rattle, November 11 2008: The Words ain't as Good as the Music
Lewis Wickes Hine Easy ‘Nuff October 1913 John Huggins. Said he's 14 years old, been doffing for 8 months in Guadalupe Valley Cotton Mills ... managed to get a $1.1 billion temp loan to carry it over till after January 1. It is then suppsed to use the proceeds from the shopping season to pay off the loan. Bit of a gamble, I'd say. They'll run [more...]
Date: 2008-11-11 19:51:56
January 6 - Microsoft Mum? - Logitech Trims 525 - No Apple for 3000 LA Teachers? - Wind Blows Cold for 20% at DMI - 350 Gone at R.L. Stowe - IRS Files Away 711 - Brunswick Sinks 275 - Alcoa Cans 15,200!
Mike: States throughout the country are facing difficult financial times. Some states are running low on operating funds, such as CA ( ... : Missouri’s unemployment fund is broke and needs to be replenished: * JEFFERSON CITY | Missouri ... Director Todd Smith said Monday that Missouri may have to borrow about $40 million from the federal [more...]
Date: 2009-01-06 13:18:38
No welfare for well-off workers
First this: GM Said to Ask for U.S. Aid in Chrysler Merger Talks Then a Washington Post editorial: AFTER YEARS of decline, U.S. auto companies face the double whammy of a credit crisis and a recession. Car and truck sales ... in the past year, and investor Kirk Kerkorian is dumping his shares. The $25 billion federal loan [more...]
Date: 2008-10-27 21:03:45
Ugly Americans Cause World Financial Crisis - Especially George Bush
The French government is investing $14 billion into its six biggest banks ... ? Or was it Joe the Plumber buying a McMansion with a sub prime loan instead of being content with a trailer ... with the reality of bad debts. Sorry, but it's just too easy to blame your favorite disputant (or decider [more...]
Date: 2008-10-21 20:12:44
DrumBeat: August 12, 2008
High gas prices make motorists click on carpool sites NEW YORK — Robert Gilliland didn't think much about carpooling until gas prices got out of control. Now, he's happy to trade his motoring freedom for $120 in weekly savings. Gilliland found one rider through the classifieds website Craigslist and another using the carpool-matching service [more...]
Date: 2008-08-12 12:54:13
Debt Rattle, November 21 2008: Treading Lukewarm Water
G. G. Bain Wall Street Blood September 16, 1920 Aftermath of the explosion that killed dozens of people in New York's financial district, when a horse wagon loaded with dynamite and iron sash weights blew up in front of the J.P. Morgan bank at 23 Wall Street. The attack, which was attributed to Italian anarchists, was never solved [more...]
Date: 2008-11-21 21:39:31
Carnival of Personal Finance - Financial Armageddon Edition!
Pop quiz - You know things are bad when the current financial crisis: a) Has its own Wikipedia entry b) ... packages that have now ballooned to well over $3 trillion, or more than the combined GDP of Canada ... ! All jokes aside, let’s not hit the panic button. Things are bad right now, but remember boys and girls [more...]
Date: 2008-10-28 02:37:30
The Biggest October Surprise of All: A World Capitalist Crash
“There will be periods of 30 years which will pass with the seeming importance of a single day, and single days with the importance of 30 years.” ( ... the fascination of the events of the past 14 months of “credit crunch”, many people (myself included ... . Analysis of a credit crisis has now become almost banal in the mainstream media. But as Marxists [more...]
Date: 2008-12-30 18:33:35
Bankruptcy and Credit Repair: Answering A Few Questions
One of our readers, Jnet, sent us this question: Due to a permanently disabling illness, I lost my job and had to file bankruptcy 2 years ago ... . I had no choice. Here it is, two years later and one of the Company’s hit my credit report with 4 dings, listing 4 charge offs? Can they do this? Will all the rest hit me too? my credit number was low [more...]
Date: 2008-10-21 14:33:56
Residential Mortgages (part 1)
Donna Elizabeth Lewczuk asked: a residential mortgage in today’s market can seem like a daunting task ... lending institutions, even for those with bad or less than perfect credit. There is also often ... or not you are self-employed and have verifiable income or if you have a bad credit history will also determine [more...]
Date: 2008-11-18 15:54:42
Top 10 Canadian News Stories of 2008
Every year has its big stories, but this year had many that I think Canadians will still be talking about years from now ... so obviously they realize how bad it will reflect on them when Elections Canada does finally rule ... it’s extremely important for Canada to maintain a positive reputation in the world and so it’s big [more...]
Date: 2008-12-31 08:21:00
Gates of Vienna News Feed 1/8/2009
The latest word is that an agreement with Russia has been reached, and the flow through the gas pipeline will resume.Also, look for the storming of the Israeli consulate in Montreal, as well as other Gaza-inspired violence around the world.Thanks to AA, Abu Elvis, Insubria, JD, Tuan Jim, Vlad Tepes, and all the other tipsters who sent these in [more...]
Date: 2009-01-09 04:49:00
Banking on the Deficit Doldrums
Despite early-morning signs of market rallies, and a report yesterday from the International Monetary Fund saying that Canada may be the only G7 ... in loans from Canadian banks (it got “caught off-guard”). The Globe leads with news that the Canadian counterparts of the Detroit Three - GM, Ford, and Chrysler - are seeking meetings with Ontario [more...]
Date: 2008-11-07 17:27:34
Good!
.flickr-photo { border: solid 2px #000000; }.flickr-yourcomment { }.flickr-frame { text-align: left; padding: 3px; }.flickr-caption { font-size: 0 ... gotten any lower--NO! Even people with good credit are getting their limits reduced because the credit card industries are running scared--most of us are 2 paychecks away from homelessness [more...]
Date: 2008-09-29 20:19:00
investments that provide greater returns than what the money cost them to obtain ... . As credit card and loan balances are at all-time highs, it has become harder for people to save ... more challenging in today's spend-happy and credit reliant consumer world. It is hard to justify saving money [more...]
Date: 2008-12-27 11:06:33
"The Auto Makers Bailout And The UAW Connection"
AFP/Getty Images/File – Speaker of the House Nancy Pelosi speaks during a news conference on Capitol ... on Congress to adapt an existing 25-billion-dollar auto industry loan program."The administration does ... of Energy loan program," she added."This is the appropriate funding to use for automakers rather [more...]
Date: 2008-11-18 00:56:13
Financial Markets Are Constipated With Cash
Question from reader:”Where is all the cash that the banks should have received for the bailout? ... t been helping us as consumers, has it? The banks are sitting on cash, fearful to loan it and, as pundits ... we just went through, at least until people start forgetting about the bad times they are going through [more...]
Date: 2008-11-21 05:09:59
DrumBeat: December 18, 2008
Oil drops 9 pct as demand outlook overshadows OPEC NEW YORK (Reuters) - U.S. crude prices dropped more than 9 percent to $36 a barrel Thursday as slumping demand and swelling U.S. inventories offset OPEC's record supply cut agreement. The Organization of the Petroleum Exporting Countries on Wednesday agreed to cut output by 2 [more...]
Date: 2008-12-18 13:42:11
9/26: High Drama
Liberal bloggers blame John McCain and the House GOPers for causing last night's bailout talks to break down, and they're urging Dem lawmakers to walk away from the negotiations. They're accusing McCain of engaging in political gamesmanship and they're declaring that if a financial crisis happens, it will be on McCain's shoulders, [more...]
Date: 2008-09-26 17:56:39
Libra New Moon Cycle: September 29 – October 28, 2008
Mercury, the planet of communications and legislative documents retrograde in Libra, Congressional leaders think that if they rewrite the language a bit so it sounds pleasing, it will be sufficient to pacify the public. As I wrote in the Libra New Moon Cycle post, the stock market during this time would make big moves in either direction, [more...]
Date: 2008-09-28 13:03:34
Race based social engineering led to current economic crisis
Race based social engineering led to current economic crisis Diana West is one of the few with the guts to say it: ... for minorities. To implement this policy, banks had to overlook traditional markers of good and bad risk--credit histories, employment, down payments, etc.--thus opening up the housing market to loan [more...]
Date: 2008-10-06 07:25:01
A Monopoly Game-Like Reliance In Florida
The Miami Herald reports from Florida. “The top job-loss state in the nation. Shrinking wages. Collapsing population growth. Record home foreclosures. Florida’s economy is not just firmly and bleakly in the red, it will likely stay that way until next June, according to the state government’s top economists [more...]
Date: 2008-07-18 14:59:38
How to improve your Credit
Credit Score is the method used by financial institutes to measure your financial health at a specific point in time. It indicates the risk you represent for lenders, compared with other consumers. In Canada, credit history is recorded in files maintained by at least one of Canada’s three major credit-reporting [more...]
Date: 2008-11-19 12:43:21
Real Estate investing and bad credit reports
by Doc Schmyz In today’s world our credit score is everything. Creditors and bankers approve or disapprove loans based on your credit worthiness ... . You will be able to pay your bills on time. Having bad credit can reduce the opportunities of things. You may get approved for a loan or for a credit card but with a higher interest rate [more...]
Date: 2008-12-31 15:40:09
Bush's Perfect Storm
Perhaps we have living proof this week that “The Market” can't fix “Everything;” and, ... the credit line spigots. However, the Bush Administration, never an operation to pay too close attention ... comes the complicated part; under current FASB rules: “The subsidiary sells the retail loans [more...]
Date: 2008-11-14 21:31:00
More BLOGMeister Quotations
Here are more sayings that tickle my fancy. Remember them so you can use them as small talk at your next cocktail party over the holidays. You will astound your friends with your knowledge!WILL A DRIC BRIDGE DRAIN MICHIGAN'S ROAD BUDGET"New bridges sap budgetWith construction for a new Brent Spence Bridge and two other bridge projects in [more...]
Date: 2008-12-22 05:01:00
Debt Rattle, November 18 2008: He'll Have To Go
John B. Trevor The Century Ahead 1921 Trevor family trip through western United States Ilargi: ... for the first time, somewhere in southern (?!) Ontario where Stoneleigh will sternly lecture the crowds ... to no more than an exceedingly bad soap opera. This charade is starting to seriously undermine [more...]
Date: 2008-11-18 19:44:54
Rebuilding the House of Tata
By Richard Orange When Vehran Irani, a senior staff member, stepped for the first time into the central stairway of the Taj Palace hotel on Saturday, what he saw broke his heart. The walls were shot to pieces, mirrors shattered, carpets charred. But as he walked up to the first floor, he noticed something unexpected [more...]
Date: 2008-12-08 16:29:43
Auto Financing - Get a Second Chance at Car Loans
You shouldn’t have to allow a bad credit rating to ruin your financial life and prevent you from getting the car you need to visit family, ... are now becoming more specifically tailored to meet the needs of people with a bad credit rating ... these types of loans are much easier to obtain and so many people with bad credit will choose this option [more...]
Date: 2008-11-04 01:30:39
Boom, Bubble and Bust
Tom Durning passes along a New York Times article from October 21 that now seems dated by fast-changing events: ... is not experiencing a bubble, Mr. Pastrick (chief economist for the Credit Union Central) said. Less aggressive mortgage underwriting practices have helped shield Canada from the credit squeeze [more...]
Date: 2008-11-11 00:08:58
Congress ignores other solutions… says “my way or the highway!”
We have been left with no good options. And today, Democrats and Republicans in Washington have agreed on an emergency rescue plan that is our best and only way to prevent an economic catastrophe. Barack Obama… da man of “hope” “Best and only”??? If it’s the *only* way, then it has the dubious honor of being not only the best, [more...]
Date: 2008-09-29 22:33:00
Subsidizing Criminal Capitalism
Why are we bailing these guys out with taxpayers money while they are guilty of being criminal capitalists ... million to settle claims over bad loans. RBC Mortgage, formerly known as Prism Mortgage, had a lending ... . Of course hidden in their bad loan charges will be the costs of criminal charges as well [more...]
Date: 2008-11-26 10:15:00
Lean year ahead for M&A maestros
POSTED BY STEVEN WEVODAU Ambereen Choudhary and Jonathan Keehner Forced sales demanded by creditors and Government-brokered transactions may ... & Co. “These are the worst conditions for many years, as bad as or worse than the early 1990s, perhaps as bad as the mid-1970s,” said Philip Keevil, 62, senior partner in London at Compass [more...]
Date: 2008-12-25 21:33:24
Portugal Sustains
by Edward Hugh: Barcelona "Art has a function of teaching about the human condition. We live in hope, hope is fundamental" - Manoel de Oliveira Manoel de Oliveira (photo and quote above) is a living example for the Potuguese people of how to force their way out of the low growth/low per capita income trap into which they have [more...]
Date: 2009-01-12 19:22:42
Mid-Year Housing Bubble Predictions
I’ll forward this thread through the 4th of July. Here are some predictions from the end of 2007 ... . This includes Canada, Mexico, UK, Spain, and others. The rest of the world is still in ‘it’s different here’ ... This will cause the world-wide credit crunch to be more severe, as borrowers in other parts of the world start [more...]
Date: 2008-07-02 11:04:11
Black Friday: The 'Sanctity of Life' vs Cheap Digital Camera?
Troops Search India Hotel After Rampage EndsNBC News and news servicesReport: Militants wanted notoriety for 'India's 9/11'; 6 Americans deadMUMBAI, India - A 60-hour terror rampage that killed 195 people across India's financial capital ended Saturday when commandos killed the last three gunmen inside a luxury hotel while it was engulfed in [more...]
Date: 2008-11-29 13:13:00
What Caused the Panic Over Morgan Stanley
BUSINESSNOVEMBER 24, 2008Anatomy of the Morgan Stanley PanicTrading Records Tell Tale of How Rivals' Bearish Bets Pounded Stock in SeptemberBy SUSAN ... that Sept. 17 was that Deutsche Bank AG had yanked a $25 billion credit line to the firm.That wasn't ... called credit-default swaps, a form of insurance against losses on loans and bonds.A close [more...]
Date: 2008-11-25 05:27:00
Obama Writes The 5, Stocks Plummet, Volcker & Greenspan Speak, Byron King’s Oil Plays, and More!
by Addison Wiggin & Ian Mathias Markets plummet again… how a more distant view of U.S ... s thoughts on the credit crisis Oil at 16-month low… Byron King’s “recession proof” oil stocks ready to rebound quickly Employment goes from bad to worse… “mass layoffs” reach historic high Housing [more...]
Date: 2008-10-23 18:03:38
Portugal Sustains
“Art has a function of teaching about the human condition. We live in hope, hope is fundamental” - Manoel de Oliveira Manoel de Oliveira (photo and quote above) is a living example for the Potuguese people of how to force their way out of the low growth/low per capita income trap into which they have steadily stuck their neck [more...]
Date: 2009-01-12 14:37:23
Interesting Facts About 24 Hour Payday Loan
by Don Pedro It is more ideal to take payday loan on a small scale. When going for cash advance loans, do not accept more than you need ... a payday loan without checking out what other lending companies are offering. The APR a lending company is charging should be your first consideration when searching for a payday loan. Except [more...]
Date: 2008-10-07 20:15:36
Rebuilding the House of Tata
Read on www.thenational.ae When Vehran Irani, a senior staff member, stepped for the first time into the central stairway of the Taj Palace hotel on Saturday, what he saw broke his heart. The walls were shot to pieces, mirrors shattered, carpets charred. But as he walked up to the first floor, he noticed something unexpected [more...]
Date: 2008-12-08 03:41:20
Credit Report - 5 Secrets Credit Bureaus Don’t Want You to Know
If you’ve ever applied for a loan or credit card, chances are your lender acquired and examined a copy of your credit report before deciding whether ... of your life. For example, because of a bad credit report you could be forced to pay tens of thousands ... or not to grant you credit. Your “Credit Report” is a record of your credit history and it’ [more...]
Date: 2008-12-14 20:33:23
10 things you should know
10 things you should know Couldn’t keep up with the twists and turns that took place in the financial world last week? ... in the United States was on the brink of collapsing due to bad mortgage assets. Lehman was scrambling ... billion (S$122 billion) loan for an 80 per cent stake. AIG was hit by a big shortage of cash [more...]
Date: 2008-09-21 05:06:56
Questioning Obama, McCain & Bush on the Economic Crisis
the vice presidential debate. Organizers of this debate wanted a primary focus on domestic policy, especially economic issues and for the most part that held although Sen. McCain (R-AZ), in attempts to show his expertise in international affairs chose specific moments to poke at Sen. Obama's inexperience in that area [more...]
Date: 2008-10-14 14:00:23
"Goldman big winner in government's revised bailout of AIG"
Note that the headline above was on a Wall Street Journal story about the new taxpayer-raping improved version of the AIG bailout ... (the term of the original loan) to off the debt. Two years is a long way away. I would have waited at least a year and few months before doing anything and then might have extended the loan by a year [more...]
Date: 2008-11-12 05:21:12
WEDNESDAY JANUARY 13, 2009
THIS SITE SUPPORTS ALL THE MEN AND WOMEN OF ALL POLICE DEPARTMENTS, EMS CREWS, IN ADDITION TO ALL SERVING IN THE CANADIAN ARMED FORCES, ... ANIMATED DOPPLER STORM RADARNortheast Next Snowstorm CANADA WEATHER WARNINGSNEW BRUNSWICK & MAINE BORDER WAIT TIMESALL OF ATLANTIC CANADA STORM WARNINGS:This Site GIVES you the news as it happens, 24 [more...]
Date: 2009-01-14 00:21:00
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