$this->bbcode_second_pass_quote('Zardoz', '[')url=http://www.marketwatch.com/news/story/consumer-pessimism-hits-2-year-high/story.aspx?guid=%7BD4A034BA%2DB051%2D477A%2D9D14%2D0459D4ED2130%7D&dist=MorePulse]Consumer pessimism hits 2-year high: ABC/Post poll[/url]
$this->bbcode_second_pass_quote('', 'T')he survey also showed that 57% of the consumers surveyed think the economy is getting worse, the highest since October 2005, while 15% say it's getting better.
PeakOil is You
I have a bad feeling about this week.
Re: I have a bad feeling about this week.
by dinopello » Wed 15 Aug 2007, 02:46:36
Don't you love these polls? Two weeks ago there was this discussion
Consumer Confidence Highest Since 9/11
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dinopello - Light Sweet Crude
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Re: I have a bad feeling about this week.
by Zardoz » Wed 15 Aug 2007, 03:49:49
Basis Capital Tells Investors Loss May Exceed 80%
$this->bbcode_second_pass_quote('', 'B')asis Capital Fund Management Ltd. told investors losses at one of its hedge funds may exceed 80 percent as the U.S. subprime mortgage rout prompted creditors to force the Sydney-based company to sell assets.
Basis Capital is unable to "accurately estimate'' the value of units in its Yield Fund, the hedge fund said today in a letter sent to investors and obtained by Bloomberg News. The losses have worsened since a month ago, when it said the fund may decline 50 percent.
$this->bbcode_second_pass_quote('', 'B')asis Capital Fund Management Ltd. told investors losses at one of its hedge funds may exceed 80 percent as the U.S. subprime mortgage rout prompted creditors to force the Sydney-based company to sell assets.
Basis Capital is unable to "accurately estimate'' the value of units in its Yield Fund, the hedge fund said today in a letter sent to investors and obtained by Bloomberg News. The losses have worsened since a month ago, when it said the fund may decline 50 percent.
"Thank you for attending the oil age. We're going to scrape what we can out of these tar pits in Alberta and then shut down the machines and turn out the lights. Goodnight." - seldom_seen
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Zardoz - Expert
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Re: I have a bad feeling about this week.
by MD » Wed 15 Aug 2007, 04:53:23
No need to worry if you have equity positions in energy companies.
They'll get funded to the bitter end.
If you have no wealth and are not employed in a key industry, you'd better switch now; if you can.
They'll get funded to the bitter end.
If you have no wealth and are not employed in a key industry, you'd better switch now; if you can.
Stop filling dumpsters, as much as you possibly can, and everything will get better.
Just think it through.
It's not hard to do.
Just think it through.
It's not hard to do.
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MD - COB
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Re: I have a bad feeling about this week.
by Zardoz » Wed 15 Aug 2007, 09:16:03
Subprime's biggest losers - It's not just mortgage lenders. Wall Street banks and homebuilders have also gotten trampled.
$this->bbcode_second_pass_quote('', '[')b]So far this year, shares of mortgage lenders like Countrywide Financial and IndyMac Bancorp Inc. have tumbled, losing up to half their value amid rising delinquencies and signs that even high-quality borrowers are falling behind.
$this->bbcode_second_pass_quote('', '[')b]So far this year, shares of mortgage lenders like Countrywide Financial and IndyMac Bancorp Inc. have tumbled, losing up to half their value amid rising delinquencies and signs that even high-quality borrowers are falling behind.
Emphasis on "so far". Nobody knows what's coming over the next year or two. That's the worst thing about all this.
U.S. Futures Fall; Asian, European Shares Drop on Credit Woes
$this->bbcode_second_pass_quote('', 'U').S. stock-index futures retreated and European and Asian sharees dropped on concern the fallout from the subprime-mortgage rout is spreading.
Countrywide Financial Corp., the biggest U.S. mortgage lender, fell after Merrill Lynch & Co. lowered the stock to "sell.'' UBS AG and Deutsche Bank AG led a decline by European banks after analysts downgraded the shares, saying tougher financing conditions will hurt profit. Mitsubishi UFJ Financial Group Inc. and Sumitomo Mitsui Financial Group Inc., two of Japan's biggest banks, sank to two-year lows after reporting losses on investments related to U.S. subprime loans.
Lender reports rising defaults - Countrywide home foreclosures and delinquencies surge to five-year highs in July.
$this->bbcode_second_pass_quote('', 'I')n a grim report that helped send mortgage stocks reeling, No. 1 home lender Countrywide Financial Corp. said Tuesday that foreclosures and delinquencies jumped in July to the highest levels in more than five years.
The company's monthly report also shows that its volume of new loans to people with poor credit has sharply contracted despite the disappearance since last year of scores of smaller rivals that specialized in sub-prime mortgages.
A spokesman for Calabasas-based Countrywide said Tuesday that layoffs were possible. The company's stock sank 8%.
"Thank you for attending the oil age. We're going to scrape what we can out of these tar pits in Alberta and then shut down the machines and turn out the lights. Goodnight." - seldom_seen
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