A LEADING Wall Street economist has warned of a possible global financial meltdown if the problems in the US sub-prime mortgage market claim more institutional scalps.
Moody's Economy.com chief economist Mark Zandi said the pre-conditions for global shock were in place and "one or two more Bear Stearns events" could have a profound psychological impact on investor confidence.
Bear Stearns, the fifth-largest securities firm in the US, shocked global markets during the week when it announced that two of its mortgage investment funds previously worth about $US1.5 billion had little or no value left in them.
http://www.theaustralian.news.com.au/story/0,25197,22146420-643,00.html
Monday, August 6, 2007
Sunday, August 5, 2007
Dollar is down, market is down
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Contango Investing Blog http://thefountainhead.typepad.com/
US unemployment hits a six-month high
The fresh snapshot of employment conditions around the country, released by the Labour Department, also showed that new job creation slowed. Employers increased payrolls by 92,000 last month, the fewest add-ons in a single month since February.
I wonder if the exchange rate is being fudged, because market forces should equalize the prices at both ends (after taxes). - M. R.
http://www.cnbc.com/id/15840232?video=452808336 Cramer loses it on CNBC (with good reason)
http://www.canada.com/nationalpost/financialpost/story.html?id=2f389d83-e576-4b34-876d-3991655db573&k=34315 Loonie won't reach parity, poll suggests
Weak US data put pressure on dollar
The dollar staged a broad retreat after weaker-than-expected US employment and business activity data overshadowed the turbulence of credit markets and focused minds back on the economy
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