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Economics and Investing:
Tony W. sent this: Even 'Dr. Doom' Is Scared: Economy Much Worse Than Roubini
Predicted
Bill from Ohio spotted this: 5000
Dow? 500 S&P?
From Kevin A. come this sign of the times: Manhattan
Apartment Buyers Abandoning Six-Figure Deposits
Rather than Closing on Deals.
Reader Kris N. mentioned in a recent e-mail: Over the last few weeks I have
heard several politicians say that credit markets need to be opened up so Americans
can start spending more to improve the economy. Is this not like Marie Antoinette
proposing the solution to the peasant’s bread shortage is to have them
switch to cake?"
Juni zeroed in on this article: AIG failure would be disastrous for global
markets
From Aaron N.: The Most Important Messages From the 4Q GDP Report
Items from The Economatrix:
Dow Falls Below 7,000; Lowest Since '97
AIG
Posts $61.7B 4Q Loss, Bailout is Restructured [JWR Notes: The
American taxpayers will be the "insurer of last resort", for CDS derivatives
and other exotic instruments for many years to come. This
debacle is far from over, and the MOAB's proportions are sure to expand. further.]
HSBC to Scale Back US Lending
140,000 British Manufacturing Jobs to be Lost This Year
FTSE 100 Falls to Six-Year Low
HSBC Shares Dive 19%
BofE to Pump Major Cash Into the Economy
Financial Crisis Hits World Markets
We Need Shock And Awe Policies to Halt Depression
Is Ireland Fated to Be Another Iceland?
JP Morgan/Chase Forecloses Despite Promised Freeze
CNBC Analyst: Global Bank, Global Currency Within 15 Years
The US Economy: Designed to Fail
Worst Job Losses in 60 Years Expected
Global "New
Deal" to Lift World Out Of Slump [JWR Notes: Re-inflation
of the credit bubble might forestall some outward manifestations for a
while, but then the eventual economic collapse will be even more traumatic!
Traditional liquidation must be allowed to happen, to work malinvestment
out of the marketplace.]
Hungary
Warns of "Economic Iron Curtain"
