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Odds 'n Sods:
Eric spotted this summary article at Bloomberg: Subprime
Losses Reach $195 Billion; German Banks Get Hit
o o o
DB found us this: Dollar
losing clout around the world. Here is a quote: "Hit by a free fall
with no end in sight, the once-mighty U.S. dollar is no longer just crashing
on currency markets and making life more expensive for American tourists
and business people abroad: Its clout is evaporating worldwide as foreign
businesses and individuals turn to other currencies. Experts say the bleak
U.S. economic forecast means it will take years for the greenback to recover
its value and prestige."
o o o
Kyle D. sent an
interesting piece of conjecture on "upside down" US homeowners,
posted over at The Bear Ridge Project blog. Kyle's comment: "The housing
market is
currently going down in value, and it will continue to do so at least 10-20%
more. There are going to be so many foreclosed homes
on the market, its going to take a very long time for the market to reach equilibrium.
After we near this bottom, it will be even more of a buyers market than it
currently is. At this point, its almost better to currently rent your home,
as anything you buy will be upside down shortly."
