Around noon yesterday here at the Old Hat Factory, a little daemon whispered in your editor’s ear, “The bottom is in for the year of the ASX.” “Huh?” We looked around to try and spot the little green devil. He’s been in our ear before. But he was nowhere to be found. We could still hear his voice. “Think about you fool. It is now safe to be dogmatically bearish on the front page of the newspapers…
October 29th, 2008 | Dan Denning | 1 comment | ContinuedAll Posts Tagged With: "financial system"
Fed Gives Financial System No Doc Loan
In an announcement released at two in the morning in New York, the Fed announced that it and other central banks would be providing unlimited liquidity to anyone who wanted it, more or less. Specifically, it said that participants to its new lending program, “will be able to borrow any amount they wish against the appropriate collateral in each jurisdiction.” This is like a giant no-money down, NO DOC loan to the entire global financial system. If the Fed could talk, you can imagine it saying…
October 14th, 2008 | Dan Denning | 1 comment | Continued
The Global Financial System is Falling Apart and the World Economy is Slowing Down
The world economy is slowing down. The global financial system is falling apart. The whole situation is a mess…a disaster for investors…a catastrophe for homeowners…
July 17th, 2008 | Bill Bonner | 0 comments | Continued