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Economy - Economics USA

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MISH: Global Economic Analysis

Details of the Super-SIV Bailout have been finalized. Paulson acknowledged that the proposed backup fund would not rescue troubled SIVs, only lead to a longer and more orderly demise. This is an amazing admission of failure right as the agreement has

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www.informationclearinghouse.info/

Whew! What a week for the stock market. On Wednesday the market took a 360 point nosedive followed, two days later, by a 220 point belly-flop. By the time it was over, the trading pits looked more like a sausage-packing plant than the world’s financi

Ron Paul suggests there is not a single person in the US that believes the CPI numbers. Heck, I am a deflationist and I think they are grossly understated except for housing which is now grossly over stated.

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Fool

GSE's would buy mortgages of as much as $1 million from lenders, pay the government a fee for guaranteeing them and then turn them into securities to be sold to investors.

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MISH: Global Economic Analysis

The rate-setting Federal Open Market Committee FOMC has considered doubling the frequency of its forecasts and extending their horizon. Don't expect to learn much. All we will get are more frequent lies.

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MISH: Global Economic Analysis

Ron Paul blasts Bernanke on price fixing, the US dollar, currency debasement, the housing bubble, and even the definition of inflation itself. Enough is enough. It's time to eliminate the price fixers in this world along with the IRS and dozens o

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AP

The outlook for the holiday shopping season grew bleaker as retailers announced disappointing October sales results due to consumers' worries about the housing slump and higher energy prices. The news came from all sectors, including mall-based a

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MISH: Global Economic Analysis

Mortgage fraud in so pervasive that problems in US asset backed securities spread all the way to Whitehorse, Yukon.

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Now and Futures

The FED stopped publishing this chart on March 23, 2006. You will see why they wanted to keep this important information from you.

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Housing Doom

Listings are shown with green signs, foreclosures are represented by gavels. Foreclosures can be at any stage from having received a "Notice of Trustee’s Sale" to being a REO.

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Calculated Risk

"...There will at some point have to be a 'Wile E. Coyote moment' -- a point at which expectations are revised, and the dollar drops sharply." Enjoy the chart.

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MISH: Global Economic Analysis

NY Attorney General Cuomo sent subpoenas to Freddie Mac and Fannie Mae over allegations of appraisal fraud at WaMu. Last week, Cuomo sued First American Corp. for allegedly colluding with WaMu to use a list of preferred appraisers to artificially inf

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Mish Shedlock

http://globaleconomicanalysis.blogspot.com/2007/11/any-credibility-left-at-fitch.html Fitch is explicitly admitting that it is making rating decisions not on merit alone, but on perceived implications of what a rating change might do to the company

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Washington Post - AP

The loss reported Wednesday was one of the biggest quarterly corporate deficits ever, and it sent GM's shares down more than 5 percent in premarket trading.

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The Independent

Bill Gross, the chief investment officer of Pacific Investment Management, “There are $1 trillion worth of sub-primes, Alt-As [self-certified] and basically garbage loans,” he said,

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Yahoo News!

The euro, worth 83 cents in the early George W. Bush years, is at $1.45. The British pound is back up over $2, the highest level since the Carter era. The Canadian dollar, which used to be worth 65 cents, is worth more than the U.S. dollar for the fi

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Calculated Risk

Level 3 assets are holdings that are so illiquid, or trade so infrequently, that they have no reliable price, so their valuations are based on the managements best guess.

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MISH: Globa Economic Analysis

Ambac and MBIA credit defaults swaps are trading into deep junk territory. In addition both stocks have plunged huge over the last couple months. The business model of both companies is to insure debt against default. Increasingly, the market is star

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