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Economy - Economics USA

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Mike

Kohn's latest speech was disingenuous at best and a blatant lie at worst. The Fed claims to seek "price stability" but idly stands by ant lets bubbles expand to amazing proportions. Then after the bubble pops, all of a sudden the Fed cl

News Link • Global Reported By Mike Shedlock
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Mike

Real estate deals are coming apart at the fastest pace since September 2001. Sales of debt secured by commercial mortgages tumbled 80 percent from a year earlier. More than 75 deals have been withdrawn because banks aren't lending. Banks also hav

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Mike

JPMorgan estimates that Ambac and MBIA own CDOs that have $29 billion in losses. The working capital of MBIA is $6.96 bln and Ambac $5.65 bln. Ambac and MBIA claim they will raise money through reinsurance but the entire market cap of the companies i

News Link • Global Reported By Mike Shedlock
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Mike Shedlock / Mish

The US looks so wounded, that tomorrow's economic superpowers are now "dollar divesting" - despite the fact that doing so will further weaken the currency, undermining their reserve values even more.

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Mike

Economist Shiller says it's Time for Bold Thinking on Housing. He then goes on with proposals that are nothing more than the same government intervention policies that have failed before. Shiller, like Bernanke, has no idea what the root cause of

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Boom2Bust

Christopher E. Hill predicts a U.S. financial crash is imminent. Mr. Hill believes that the United States is afflicted by a number of interconnected “bubbles” that when one is pricked, a “domino effect” will follow and result in a major economic cris

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Mike

In order to curb investment frenzy, China mandates a lending freeze. One day after the mandated freeze is announced, reports came in that a Credit "heart attack" engulfs China and Korea. So much for Paulson's quip about the strong globa

News Link • Global Reported By Mike Shedlock
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Mike Shedlock

European banks agreed to suspend trading in the $2.8 trillion market for mortgage debt known as covered bonds to halt a slump that has closed the region's main source of financing for home lenders. This suspension could last through the end of th

News Link • Global Reported By Mike Shedlock
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