Marc Faber said on 2008.10.13 that US longterm treasury bonds should have "junk" ratings and US government will go bankrupt, it's only a matter of time, sooner or later
LONDON (AP) - Oil prices fell below $70 a barrel Wednesday as investors shrugged off a looming OPEC production cut after company forecasts suggested the U.S. may be headed for a severe economic slowdown that would crimp demand for crude.
Argentina's President Cristina Fernandez has signed a bill that will nationalise the country's 10 private pension funds.
"It's not possible for the eurozone to continue without clearly identified economic governance," he told the European Parliament on Tuesday. The leaders of the 15-nation eurozone should coordinate their actions with the European Central
The impact of the financial crisis on major economies was brought into focus as China's growth slowed and Britain fell deeper in debt, amid more signs of turmoil in the banking sector. While markets rallied at the start of the week's trading,
In response to the Credit crisis president Bush is gathering up all the people who did not see what was coming, denied what was happening, and then failed to see the implications of what was indeed happening.
Only a few months were needed to create large emergent data networks and escape from any centralized commercial control, as well as from any physical frontier. Some people see in this, one of the next steps to freedom and democracy.
(While were bombing and sending troops, the Chi-Coms are holding out a helping hand) China is to strengthen its influence over Pakistan by using its enormous financial reserves to help the country stave off bankruptcy. Beijing, which has already
CAMP DAVID, Md. (AP) — European leaders are lobbying President Bush at the Camp David presidential retreat on Saturday to support a summit by year's end that would craft ways to reform the world financial system.
Tatyana Sadovskaya, on Wednesday told Interfax news agency that in response to rumours of her bank’s insolvency: “People have formed long lines at cashiers and at bankomats, people are taking their deposits and closing their accounts.”
The credit default swaps (CDS) for Argentina, Pakistan, and Ecuador are flashing warnings of insolvency, while the Baltic States, Romania, Bulgaria, and Turkey are at risk as it becomes harder to finance current account deficits.
Just as prices in a free market are set by supply and demand, financial and real estate markets are governed by the opposing tension between greed and fear. Our leaders irrationally promoted home-buying, discouraged savings, and recklessly...
LONDON (AFP) — Oil prices slumped further on Thursday, with Brent crude briefly sliding close to 67 dollars a barrel and the lowest level for more than 15 months, as slowing energy demand took its toll, traders said.
LONDON (MarketWatch) -- The Swiss government on Thursday became the first to take troubled assets off a bank balance sheet, reaching a deal to absorb up to $60 billion in mostly mortgage-related assets from UBS.
BEIJING, Oct 16 (Reuters) - China Premier Wen Jiabao pledged to help Pakistan overcome its economic troubles, Chinese state media reported on Thursday, although details of the assistance were not disclosed.
Stocks declined in Asia and Europe, with benchmark indexes from Tokyo to Budapest falling more than 4 percent, on growing concern bank bailout plans in the U.S. and Europe will fail to avert a global recession. U.S. index futures were little changed.
Asian stocks plummeted Thursday, with Tokyo's market plunging more than 10 percent, after another dive on Wall Street as worse-than-expected data about the U.S. economy heightened fears of a global recession.
In other words, Deutsche Bank’s traders were selling phantom stock, and it appears that they were doing this systematically over the course of the 22 month time period (ending in October 2006) that the NYSE investigated.
The ballot was the first in a major economy since the eruption of the worst worldwide financial crisis in almost a century.
"The idea that this could happen in Switzerland is unbelievable," said Klaus Stoeckli, 55, a food-products salesman who has withdrawn about $90,000 in investments from UBS, worried that its storied vaults might not be able to protect his mo
[What happens when no one wants your currency!] With trading in the krona virtually suspended after it plunged against the euro, dollar and yen, debtors now face skyrocketing bills.
Asian markets soared for a second day Tuesday, led by a stunning 13 percent jump in Tokyo, after Wall Street rallied from its worst week ever on optimism that government rescue efforts will heal the crippled global financial system.
Oct. 14 (Bloomberg) -- Australian Prime Minister Kevin Rudd announced a A$10.4 billion ($7.3 billion) spending package to boost the economy as the global financial crisis freezes credit and slows growth.
France, Germany, Spain, the Netherlands and Austria committed 1.3 trillion euros ($1.8 trillion) to guarantee bank loans and take stakes in lenders ...
The Chancellor will take control of the Royal Bank of Scotland today by injecting £20 billion of taxpayers' money. The Government is also to take over HBOS in the most dramatic extension of state ownership in the British economy since the war.
The market is worth more than $516 trillion, roughly 10 times the value of the entire world's output: it's been called the "ticking time-bomb". It's a market that is set to come to a crashing halt – the Great Unwind has begun.
Asian stocks rose, rebounding from the worst week since at least 1987, after Australia guaranteed bank deposits and European leaders agreed to support lenders in a global effort to end the credit crisis. U.S. index futures gained.
None of the ministers or central bankers was sure the emerging plan would work, but with stock markets in freefall and banks unable to borrow from each other even overnight, they agreed a bold initiative was essential.
Gordon Brown will try to broker a Europe-wide bail-out of banks today modelled on Britain's £500bn intervention, warning that the 'stakes could not be higher' for jobs, mortgages and the future of the economy.
German Chancellor Angela Merkel heads to Paris to present Sunday to her colleagues from the euro zone a financial sector bailout plan for Germany that's expected to be more than half the size of what has been enacted in the U.S.