Other Recent Articles
Nationalised Banking System Will Come from Global Market Rout
The situation in the financial markets has not improved over night. In fact, the crisis seems to be accelerating. But toward what? In the share market, we had a look back on the 2003 low on the ASX. On March 12, 2003 the index closed at 2,673. If the rally that began the next day and ended in October of last year was really just a multi-year rally in the midst of a secular bear market, you have to ask whether the 2003 low will be tested.
10Oct2008 | Dan Denning | 6 comments | Continued
One in Six Homeowners is Underwater
About 75.5 million U.S. households own the homes they live in. After a housing slump that has pushed values down 30% in some areas, roughly 12 million households…
10Oct2008 | Bill Bonner | 0 comments | Continued
Welcome to Murphy’s Market
If you sold out of the stock market last year – or even back in June or early July 2008 – you probably feel pretty good right now. And if you took the cash and spread it around to a group of well-run banks, so as to take advantage of the FDIC insurance, then you must be feeling fine. Read no further. Take the rest of the day off. But if you still have some skin in the game, you’ll want to hear what Byron King has to say…
10Oct2008 | Byron King | 0 comments | Continued
Politics and Investment Intertwined
The credit crisis came at the weakest possible moment of the American political cycle, the last period of an outgoing Presidency. The first serious sign that subprime mortgages were toxic came in the middle of 2007, approximately six months before the start of the 2008 primaries. The first crisis came in August 2007. When the President put the Paulson Bill to Congress, his authority was at its lowest, and he initially failed to persuade Congress to pass the Bill…
9Oct2008 | William Rees-Mogg | 1 comment | Continued
A Brief Lesson in Sarah Palinese
Finally, we rise to the defense of a dumbbell. We like Sarah Palin; we don’t know what she is talking about. But she is the only candidate we can’t make fun of it for.
9Oct2008 | Bill Bonner | 4 comments | Continued
Fractional Banking and Our Own Emotions Are Working Against Us
This morning, walking to work, your editor was worried. The end of the world might not be as pleasant as he had hoped. These worries almost turned him into the latest victim of the credit crunch. That is to say, he almost got arrested…
9Oct2008 | Bill Bonner | 1 comment | Continued
Stocks in a Free-Fall
After such a big drop, you’d expect a big bounce. But not Tuesday. Stocks just kept falling, with the Dow down another 508 points…
9Oct2008 | Bill Bonner | 0 comments | Continued
The Price of Gold Stocks in January 2012
Gold Rockets Past $5,000 in Heavy Trading. Jan. 21, 2012 (AP ) For the fifteenth straight day, the price of gold rose on record-setting volume, reaching a milestone few believed possible just a few short years ago. Roaring inflation and a fading U.S. dollar, combined with the continuing stress and uncertainty of World War III, pushed gold past the psychological barrier of $5,000 (to gold bugs, the “Big Nickel”), to close at $5,108 per ounce.
9Oct2008 | Jeff Clark | 7 comments | Continued
CRB Commodities Index Has Largest Decline in 50 Years
While the RBA rate cut is good news for the Aussie share market, the utter collapse in global commodity prices is not. This week the CRB commodities index fell the most in over 50 years—the most ever in such a short period. What is going on and where will commodity prices go from here? Three factors have contributed to the huge reversal in resource prices. First is the global rush to cash. Investors have voluntarily liquidated positions they’ve held for years in order to be in cash.
8Oct2008 | Dan Denning | 3 comments | Continued
RBA Rate Cut Does Little to Unlock Credit Market
“Rally to me,” said Glenn Stevens. And investors did. The RBA rate cut WAS a full percentage point as we speculated yesterday. And it certainly did make a splash. Economists loved it. The critics praised it. And investors “huzzahed” the ASX 200 up nearly two percent on a day when the rest of the globe quaked in fear. What has changed? The bank has shifted from being worried about inflation to being worried about recession. A credit crunch?
8Oct2008 | Dan Denning | 4 comments | Continued