US rates rising indication

Bernanke Says Risk of 'Substantial Downturn' Lessens, Vows Inflation Fight...

Interest Rates to Rise?

Florida tomato industry in 'complete collapse'...

Oil spikes by more than $3 amid supply concerns...

Saudis hike output...

NY Fed chief urges global bank framework

Banks and investment banks whose health is crucial to the global financial system should operate under a unified regulatory framework with "appropriate requirements for capital and liquidity", according to Timothy Geithner, president of the Federal Reserve Bank of New York.

Writing in Monday's Financial Times, Mr Geithner, a key US policymaker throughout the credit crisis and one of the main architects of the rescue of Bear Stearns, says that the US Federal Reserve should play a "central role" in the new regulatory framework, working closely with supervisors in the US and round the world.

http://www.ft.com/cms/s/0/546b1604-3585-11dd-998d-0000779fd2ac.html?nclick_check=1

US Citizens banned from French Banks

From UrbanSurvival:

Trouble Ahead?  Bank on it!

An email from a reader got my attention:

Hi George, reading your site on daily basis; thanks for the common sense and the unfiltered info. Here's my question: recently I was in Europe and I tried opening an account in a European bank (in Paris to be exact), the manager looked straight into my eyes and said that they have a directive from high above not to open accounts for US citizens and actually they have asked every us citizen who has an account with them to leave the bank (banks name is ***), very disappointed I created a havoc about discrimination, human rights etc (with bankers? what was I thinking?), then I lectured my wife (she's French) about the freedoms in our country and rotten values in Europe; a week later I'm in LA in my bank (Bank of ******) where my friend is the manager and he told me that they've just asked all euro pen citizens to clear the bank; plain and simple, to take their money and get lost; what do you thing is going on? something is in works.

Yes.  It's warring currencies!  What have we been telling you?  $139 oil is just the start!  First we hy6perinflate and then we collapse.  Quite simple.  The monetarists mantra "Crack-up Boom" comes to mind, eh?  For recent pointers, instead of going to Europe, next time try Argentina or still,  Zimbabwe where the currency has become unusable.  You see, that's the beauty of digidollars.  Just slide the decimal point and keep on printing....

 

http://www.urbansurvival.com/week.htm

Oil breaks record $139

Job Losses and Surge in Oil Spread Gloom on Economy...
'Serious Concern'...
Medvedev Says USA 'Economic Egoism' Has Contributed to Global 'Crisis'...

OIL STAGES ITS BIGGEST SINGLE-DAY ADVANCE...

Japan Urges Effort to Combat 'Abnormal' Prices...

Gold Surges Most in Six Months...

Southern California buy one house get a second one free

http://latimesblogs.latimes.com/laland/2008/06/in-escondido-bu.html

In Escondido: Buy one (house), get one free.

In a sign of how difficult it is to sell new homes in Southern California right now, a San Diego developer is offering a "buy one, get one free" deal, pairing million-dollar homes with less expensive homes.

"We thought, 'Why does it just have to be on Pop Tarts and restaurants? Why not buy one home, get one free,'" Dawn Berry of Michael Crews Development told 10 News in San Diego.

More: "Michael Crews Development is offering new, 2000-square foot cityscape row-homes worth $400,000 in Escondido for free -- if you buy one Royal View Estate home in San Pasqual Valley starting at $1.6 million.  'You know it's a straight-up legit deal; no prices have been increased, there are no hidden costs. Michael is just giving away a free home for people that buy at Royal View,' said Berry."

"Adam Rossman of Michael Crews Development added, 'People have been coming in saying, 'How can you do this?' Well, it's our way of dealing with current market conditions to move some inventory.' "

Your thoughts? Comments? E-mail story tips to peter.viles@latimes.com
Photo Credit: Michael Crews Development

Does that make me an idiot that I don’t know about mortgages and banks?

She says she didn't know better and the money-men took advantage of her naivety and ignorance.

"Does that make me an idiot that I don't know about mortgages and banks? That's what you have those for." http://news.bbc.co.uk/2/hi/business/7431310.stm

"It would be disastrous when I sit down and look at the numbers. I'm hesitant to sit down and do it."

shipping a standard 40-foot container from Shanghai to the east coast of North America now costs $8,000 (U.S.), up from $3,000 in 2000 when oil was just $20 a barrel

Two bank economists argue in a report released Tuesday that because of higher fuel costs, shipping a standard 40-foot container from Shanghai to the east coast of North America now costs $8,000 (U.S.), up from $3,000 in 2000 when oil was just $20 a barrel."... http://crudeawakeningaustin.blogspot.com/2008/05/from-reportonbusiness.html

U.S. home prices dropped at the sharpest rate in two decades during the first quarter

PRICES DROP MOST IN 20 YEARS
NEW YORK - U.S. home prices dropped at the sharpest rate in two decades during the first quarter, a closely watched index showed Tuesday, a somber indication that the housing slump continues to deepen.

Blame Wall Street for $135 Oil on Wrong-Way Betting

http://www.bloomberg.com/apps/news?pid=20601109&sid=aNpbEqWbUwok&refer=home
May 22 (Bloomberg) -- Oil's rally to a record above $135 a barrel came as traders bought crude to cover wrong-way bets that prices would decline, according to data from the New York Mercantile Exchange.

The number of outstanding futures contracts, known as open interest, fell 8.1 percent in a week to 1.36 million at the same time that prices rose 2.6 percent, the data show. Falling open interest and rising prices are signs that traders are buying to exit so-called short positions that would profit if oil fell, and lose money as they rose.

Expert Advisors Based on Popular Trading Systems and Alchemy of Trading Robot Optimization

"Expert Advisors Based on Popular Trading Systems and Alchemy of Trading Robot Optimization"

http://articles.mql4.com/618

This article dwells on implementation algorithm of simplest trading systems. The article will be useful for beginning traders and EA writers.

We need to get prices under control.... We can only conclude that the oil markets have failed

"We need to get prices under control.... We can only conclude that the oil markets have failed," said Sen. Herbert Kohl, D-Wis. http://news.yahoo.com/s/ap/20080521/ap_on_go_co/oil_congress

Inflation or something else? Wall St. Dishes out $175 burger

http://wcbstv.com/local/wall.street.burger.2.728491.html Wall Street Burger Joint Dishes Out $175 Burger

Oil spikes to all time high 128

http://biz.yahoo.com/ap/080516/oil_prices.html?.v=13
NEW YORK (AP) -- Oil prices surged more than $3 Friday, shattering a previous record in a spike near $128 a barrel, as prices at the pump pushed to new highs of their own. The gains come 10 days before the Memorial Day holiday, the traditional start of the peak U.S. summer driving season, suggesting that retail gas prices have further to rise.

Bush in Saudi Arabia...

King sees no reason to raise oil production...

China hacks US with US technology copy, Cisco routers

http://www.worldtribune.com/worldtribune/WTARC/2008/ea_china0141_05_15.asp China hacks US networks with Cisco copies Made In China

PALM BEACH ESTATE SELLS FOR $100 MILLION; FOREIGN BUYER...

Philly's $100 cheesesteak...

China Construction companies receive boost from earthquake

http://www.forbes.com/afxnewslimited/feeds/afx/2008/05/14/afx5006501.html BEIJING (XFN-ASIA) - China A-shares closed higher, with nonferrous metals and cement companies leading the gains on expectations of higher demand after Monday's Sichuan earthquake, dealers said.

A significant rebound by banks also helped to boost the market.

The benchmark Shanghai Composite Index closed up 97.19 points or 2.73 pct at 3,657.43.

Turnover fell to 122.32 bln yuan from 122.66 bln in the previous session.

'The earthquake did not change the uptrend of the market, which received sustained support from regulators,' said Jin Hongming, an analyst at Guotai Junan Securities.

'More new stock funds are also entering the market, and fund managers generally favor large caps like banks,' Jin added.