News going into CHinese New Year
Some Asian markets will be shut for 1 or more days. So before I go and enjoy my long weekend, here are some highlights:
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SAN FRANCISCO (MarketWatch) -- Microsoft Corp. rattled investors early Thursday by releasing a disappointing quarterly earnings report and announcing that it will lay off as many as 5,000 workers, a startling development for a company that has taken pride in avoiding such sweeping job cuts even during the lowest points of its roughly 33-year history.
http://www.marketwatch.com/news/stor...A0}&siteid=rss
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Layoffs at Microsoft, Intel, and IBM
http://slashdot.org/article.pl?sid=0...35250&from=rss
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SAN FRANCISCO (MarketWatch) -- Former Merrill Lynch Chief Executive John Thain resigned from Bank of America on Thursday, highlighting problems the giant lender has taken on with its acquisition of the struggling brokerage firm.
http://www.marketwatch.com/news/stor...A1}&siteid=rss
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WASHINGTON – The government said Thursday it has distributed an additional $1.5 billion to 39 banks nationwide as part of the $700 billion financial rescue program.
http://news.yahoo.com/s/ap/20090122/...meltdown_banks
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Thanks to Republican economic policies, the U.S. economy is robust and job creation is strong.
http://www.nrcc.org/issues/default.asp?ID=47
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WASHINGTON (AP) -- New-home construction plunged to an all-time low in December, capping the worst year for builders on records dating back to 1959.
http://finance.yahoo.com/news/Housin...-14125070.html
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Jan. 22 (Bloomberg) -- The yen traded near a record high against the pound as speculation that the deepening financial crisis will force the British government to nationalize banks boosted the haven appeal of Japan's currency.
http://www.bloomberg.com/apps/news?p...E&refer=europe
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John Kemp at the Guardian is making a case that the US and UK are on the brink of a debt disaster. Let's investigate the discussion and charts.
http://globaleconomicanalysis.blogsp...-disaster.html
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Trading data from India's largest commodity bourse, the Multi Commodity Exchange (MCX) show that traders took record delivery in gold contracts. Commodity market traders sought delivery of 529 kg of the January gold mini contracts at MCX.
http://www.commodityonline.com/news/...14291-3-1.html
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CEO Lays Off 5,000 Workers To Impress Girlfriend
http://www.theonion.com/content/radi..._5_000_workers
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Lazy Nation Fears Obama Will Create Millions Of Jobs
http://www.theonion.com/content/radi...ars_obama_will
http://simulatedcomicproduct.com/200...nt-strategies/
Re: News going into CHinese New Year
Re: News going into CHinese New Year
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WASHINGTON (CNN) — President Barack Obama had harsh words Friday for
companies that have engaged in lavish, frivolous spending while receiving
taxpayer dollars from the $700 billion federal bailout package.
http://cnnwire.blogs.cnn.com/2009/01...bailout-funds/
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Unprecedented Crisis In US, UK, Australia, Europe
http://globaleconomicanalysis.blogsp...australia.html
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SAN FRANCISCO (MarketWatch) -- 1st Centennial Bank of Redlands, Calif. was seized by the Federal Deposit Insurance Corp. and state regulators on Friday. It was the third bank failure this year, and brings to 28 the number of banks that have closed since the beginning of the current credit crisis.
http://www.marketwatch.com/news/stor...%7D&siteid=rss
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Freddie asks for another $35 billion
http://optionarmageddon.ml-implode.c...er-35-billion/
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Is Big Inflation Coming?
http://globaleconomicanalysis.blogsp...on-coming.html
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United Kingdom and the British Pound Are in Serious Trouble
http://jessescrossroadscafe.blogspot...nd-are-in.html
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WASHINGTON (MarketWatch) -- The U.S. economy contracted violently in the fourth quarter, with gross domestic product falling at its fastest pace in more than 25 years, economists said ahead of what promises to be a grim week of economic news.
http://www.marketwatch.com/news/stor...%7D&siteid=rss
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Report: U.K. Government to Insure up to £100 billion in RBS Loans
http://www.calculatedriskblog.com/20...ure-up-to.html
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Revealed: Day the banks were just three hours from collapse: "Britain was just three hours away from going bust last year after a secret run on the banks, one of Gordon Brown's Ministers has revealed.
http://benbittrolff.blogspot.com/200...ours-from.html
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Obama Signals Tough Restrictions on Banks in Rescue Package
(bloomberg.com)
http://hf-implode.com/viewnews/2009-...uePackage.html
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Republicans promise to filibuster every stimulus package unless the Bush tax cuts for the rich are made permanent, and are suddenly concerned about government spending
http://www.nytimes.com/2009/01/26/us...w.html?_r=2&hp
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As part of his rescue plan, Obama Signals Tough Restrictions on Banks in Rescue Package.
http://globaleconomicanalysis.blogsp...o-address.html
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Rates have shot up considerably in the past week and a half from roughly 5% at 1 point to 5.5%-5.625% at 1 point to the borrower. This was despite the Fed in the market buying $19 billion in Agency MBS last week.
http://mrmortgage.ml-implode.com/200...tter-buy-more/
Re: News going into CHinese New Year
^^^ again not wanting to swing too far toward the political in DD, but your observations about rising inflation and rising interest rates are both correct and very telling about the future of the US dollar / economy. You can also add news about LIBOR rising again. Arguably, all of this action is based on an Obama / democratic congress' commitment to spend upwards of $1 trillion ADDITIONAL dollars for economic stimulus / increased social services payments / public works projects in light of rapidly declining (private sector) tax revenues and rapidly declining willingness by China / Europe / Arabs to continue loaning America money (i.e. making new purchases of the newly issued US Treasury bonds needed to fund the $1 trillion in additional US gov't spending). The experts are saying that the new Treasury bond sales problem (i.e. rapidly rising interest rates) will hit with full force during the second quarter, at which point the US gov't will actually find out how 'short' it is on tax revenues (i.e. April 15th), and will also find out how much 'automatic' federal spending ( medicaid, FDIC, pension guarantees, unemployment, Madoff tax refunds etc.) has increased.
Re: News going into CHinese New Year
Not my observations - I try to just quote news sources here, so as to not editorialise. I may be a bit biased in my news choices, and may post editorials, but people are free to look for other sources to supplement their reading :)
Re: News going into CHinese New Year
Quote:
Originally Posted by
Paris
I love the last two!;D
;D much obliged.