The crashing of the US.......most interesting

[Chris Ryser]

2 items of interest:

2) Chinese companies have started issuing invoices to buyers in RMB or Euro rather than USD.

Doc

I wouls aasume that, providing this is the case, if they charge an even for even change from US $ to Euro everything would become a lot more expensive. As for example at this moments time........

Live rates at 2007.12.10 15:12:33 UTC

1.00 EUR=1.47155 USD

Euro United States Dollars 1 EUR = 1.47155 USD / 1 USD = 0.679558 EUR

equal a hefty increase if you take into consideration that this also applies on transport and import duties.

[DocInChina]

I wouls aasume that, providing this is the case, if they charge an even for even change from US $ to Euro everything would become a lot more expensive. equal a hefty increase if you take into consideration that this also applies on transport and import duties.

For other countries this will likely not have an impact but for the US or countries whose currency is pegged to the USD it will likely have an effect. I think for lower cost/ low margin product the RMB or Euro quote makes sense. For other products the currency fluctuation will likely be absorbed by the manufacturer for the short term/ mid term and pricing will likely remain much the same.

[Chris Ryser]

Central banks join forces to ease credit crisis
Wed Dec 12, 2007 4:13pm EST

By Mark Felsenthal

WASHINGTON (Reuters) - Central banks around the globe on Wednesday banded together to make it easier for stressed banks to borrow money in the midst of a credit crunch that threatens to knock the U.S. economy into recession and slow growth worldwide.

The steps, announced jointly by the U.S. Federal Reserve, the European Central Bank and the central banks of Canada, England and Switzerland, were aimed at tamping down a financial crisis that erupted this summer when record housing foreclosures left banks leary of lending. The Bank of Japan and Sweden's Riksbank also issued statements that they are lending support to the plan.

See whole story: http://www.reuters.com/article/topNe...62150920071212

[Johns]

Zzz...zzz...zzz...zzz...zzz...zzz...zzz....zzz...zzz...zzz.. .

[Chris Ryser]

Wall Street dips as holiday outlook dims
Mon Dec 17, 2007 11:12am EST

By Jennifer Coogan
NEW YORK (Reuters) - Stocks fell on Monday, extending last week's losses, as investors worried that signs of rising inflation and weakness in holiday shopping dimmed prospects for economic growth and corporate profits.

The Nasdaq composite index fell as much as 1 percent.

See story at : http://www.reuters.com/article/hotSt...53281320071217

[wabmorgan]

Centro Properties Group, the owner of 700 U.S. shopping malls, slumped 76 percent in Sydney trading after saying it's struggling to refinance debt because of the collapse in the subprime mortgage market.


http://www.bloomberg.com/apps/news?p...efer=australia

[Chris Ryser]

First we buy their products in every field,............. now they by the corporations...........
..
Morgan Stanley sells stake to China fund

Wed Dec 19, 2007 9:48am EST

NEW YORK (Reuters) - Morgan Stanley (MS.N: Quote, Profile, Research) on Wednesday posted a stunning fourth-quarter loss after recording a bigger-than-expected $9.4 billion of write-downs and said it sold a $5 billion stake to China Investment Corp to bolster its capital.

The second-largest U.S. investment bank posted a net loss from continuing operations of $3.59 billion, or $3.61 a share, in the quarter ended November 30. A year earlier Morgan had income from continuing operations of $1.98 billion, or $1.87 a share. Morgan Stanley's operating results reflect the spin-off of its Discover Financial Services (DFS.N: Quote, Profile, Research) in July.

See the whole story at :
http://www.reuters.com/article/ousiv...AS491120071219

[Chris Ryser]

Business & Finance



Bear Stearns posts $854 million quarterly loss 9:01am EST

NEW YORK (Reuters) - Bear Stearns Cos Inc posted a much bigger-than-expected quarterly loss on Thursday, capping a fiscal year when the fifth-largest U.S. investment bank took a beating on bad bets on risky subprime mortgages. Full Article

[Chris Ryser]

PIMCO's Gross says U.S. in recession: report

Fri Dec 21, 2007 8:18am EST


NEW YORK (Reuters) - The U.S. economy this month has fallen into a recession, which should last for the next four to five months, Bill Gross, chief investment officer of the world's largest bond fund manager, told the Financial Times.

"If I had to be bold I'd say we began a recession in December," he said in an interview posted on the paper's Web site on Thursday.
The median forecast for growth in the U.S. gross domestic product in the fourth quarter of 2007 is a 0.9 percent annualized rate, according to a Reuters poll, sharply slowing down from a 4.9 percent rate in the third quarter.

Growth is seen sputtering largely because of the ailing housing sector, crippled by rising defaults on mortgages and the difficult lending environment.

See whole story: http://www.reuters.com/article/ousiv...24872920071221

[optirep]

http://www.msnbc.msn.com/id/3683270/

[optirep]

http://www.msnbc.msn.com/id/22357471/

[Chris Ryser]

Citi, Merrill, JPMorgan face larger writeoffs: Goldman
Thu Dec 27, 2007 10:47am EST


By Jonathan Stempel

NEW YORK (Reuters) - Citigroup Inc (C.N: Quote, Profile, Research) may need to slash its dividend 40 percent to preserve capital, and with Merrill Lynch & Co (MER.N: Quote, Profile, Research) and JPMorgan Chase & Co (JPM.N: Quote, Profile, Research) may write off more than $33 billion of debt this quarter as the credit crunch deepens, a Goldman Sachs & Co analyst said.

"It will be a couple of quarters before the current credit crisis is fully digested by the markets," the analyst, William Tanona, wrote in a report released on Thursday. "Fourth-quarter trading results are likely to be among the weakest we have seen in some time."

Tanona nearly doubled his forecast for projected write-downs, after rising mortgage losses led investors to shun debt they once thought safe but now deem risky.

Financial companies including Bank of America Corp (BAC.N: Quote, Profile, Research) and Switzerland's UBS AG (UBSN.VX: Quote, Profile, Research) have already announced more than $70 billion of write-offs tied to the credit crisis. Debt losses led ..........................................

Read whole story: http://www.reuters.com/article/ousiv...38809220071227

[Chris Ryser]

Top performing major currencies in 2007

Wed Jan 2, 2008 2:30am EST


NEW YORK (Reuters) - The U.S. dollar fell across the board in 2007 and suffered the deepest losses against the Canadian dollar, among the world's most heavily traded major currencies.
The greenback registered its biggest decline against the Canadian currency in four years, down almost 15 percent and falling below parity for the first time in 31 years.

See whole story: http://www.reuters.com/article/hotSt...52673120080102

[Chris Ryser]

Countrywide says foreclosures highest on record
Wed Jan 9, 2008 11:20am EST

By Jonathan Stempel
NEW YORK (Reuters) - Countrywide Financial Corp (CFC.N: Quote, Profile, Research), the largest U.S. mortgage lender, said on Wednesday that foreclosures and late payments rose in December to the highest on record, though it made more loans than expected in the fourth quarter.

Its shares fell as much as 20.2 percent as concern persisted that Countrywide might seek bankruptcy protection. The shares fell 27.4 percent on Tuesday though Countrywide rejected an identical rumor.

"Rumors of bankruptcy are still surrounding Countrywide," said William Lefkowitz, options strategist at brokerage firm vFinance Investments. "Investors still believe that they need an infusion of capital."

See whole story at : http://www.reuters.com/article/ousiv...49766020080109

[Chris Ryser]

Recession fears are growing

Thu Jan 10, 2008 1:47am EST

By Joanne Morrison
WASHINGTON (Reuters) - Expectations for the weakest consumer spending performance in 17 years during 2008 kept the odds of a recession at nearly 40 percent, a survey of top forecasters showed on Thursday.

Panelists surveyed by the Blue Chip Economic Indicators newsletter have the odds of a recession in the next year at 38 percent, a little weaker than the 39 percent odds forecast a month ago.

But the most recent survey was taken ahead of December's grim unemployment report and the newsletter stated that growth forecasts would have been weaker if taken after release of that data.

"The January 4th news of the first decline in private sector nonfarm payrolls since July 2003 and whopping 0.3 of a percentage point jump in the unemployment ..............................

whole story at: http://www.reuters.com/article/ousiv...50713120080110

[Chris Ryser]

Retailers post mostly gloomy December sales
Thu Jan 10, 2008 9:56am EST

By Martinne Geller
NEW YORK (Reuters) - Retailers reported mostly gloomy December sales results, hurt by snowstorms as well as deep discounting aimed at getting cash-strapped consumers to open their wallets during retail's most important month.
Amid the rubble, though, there were a few bright spots, such as retail leader Wal-Mart Stores Inc (WMT.N: Quote, Profile, Research), which reported a 2.4 percent increase ...................................

See Story at :http://www.reuters.com/article/ousiv...AS611420080110

[Chris Ryser]

Dollar hits record low vs Swissie as stocks dive
Wed Jan 16, 2008 4:50am EST

By Simon Falush
LONDON (Reuters) - The dollar hit a 2-1/2 year low against the yen and a record trough versus the Swiss franc on Wednesday, as weak data leads to growing fears of a U.S. recession and expectations of hefty Federal Reserve interest rate cuts.

A dismal reading of December retail sales on Tuesday suggested the U.S. economy might be facing deeper problems, and tumbling global stock markets fuelled market expectations that the Fed is set to cut rates by as much as 75 basis points soon.

European stocks fell over 1 percent in early trade after sharp falls on Tuesday and heavy losses overnight in Asia and the United States..........

See whole story at: http://www.reuters.com/article/hotSt...32987020080116

[Chris Ryser]

Housing starts, manufacturing raise recession fears
Thu Jan 17, 2008 12:37pm EST

By Herbert Lash
NEW YORK (Reuters) - Factory activity in the U.S. Mid-Atlantic region contracted sharply in January and home-building in December fell to the slowest pace since the early 1990s, reports showed on Thursday, reinforcing fears of recession.

Federal Reserve Chairman Ben Bernanke told lawmakers on Thursday that even though the U.S. economy is facing difficulties, the Fed is not forecasting a recession.

But a survey of about 250 economists from the Group of Seven major developed economies said the United States faces a 45 percent chance of recession, a Reuters poll showed.

Ground-breaking on new U.S. homes last month was the slowest since 1991 and fewer building permits were issued than any time since 1993,......................

See whole article at: http://www.reuters.com/article/ousiv...49913820080117

[GOS_Queen]

new cereal ... ;)

http://www.lewrockwell.com/blog/lewr...es/018251.html

[tmorse]

Sorry to say it, but it looks more and more like Chris' dire predictions regarding the fate of the US economy are coming true. Congrat's to Chris for having an attuned ear to the ground. And unfortunately Canada can expect to share a similar fate... "When the USA sneezes, Canada catches a cold." Time for some belt-tightening all around.

[Leo Hadley Jr]

Is this all part of another master plan???

http://youtube.com/watch?v=vuBo4E77ZXo

[Chris Ryser]

Sprint posts steep subscriber losses
Fri Jan 18, 2008 1:32pm EST

NEW YORK (Reuters) - Sprint Nextel Corp (S.N: Quote, Profile, Research) reported deeper than expected subscriber losses on Friday and said it would cut about 4,000 jobs, sending its shares down 26 percent and raising fears that an economic slowdown would take a greater toll on the wireless industry

See story at: http://www.reuters.com/article/ousiv...30195520080118

[Chris Ryser]

Equities pummeled by U.S. recession fears
Mon Jan 21, 2008 4:26am EST

By Jeremy Gaunt, European Investment Correspondent

LONDON (Reuters) - World stocks took a beating on Monday and demand for safe-haven bonds and currencies rose as fears gripped investors that a troubled U.S. economy would drag others down with it.

MSCI's main world stock index was down 1.9 percent, nearing its 2007 low. The pan-European FTSEurofirst 300 was down 2.4 percent, taking its 2008 year-to-date losses to 12 percent.

Japan's benchmark Nikkei average .N225 earlier lost 3.86 percent to close at a two-year low and MSCI's main emerging market stocks benchmark .MSCIEF was down 3.8 percent.

"Risk aversion is widespread as the market thinks (the economic downturn) is not just a U.S. centric story," said Paul Robson, currency strategist at RBS Global Banking

Whole article: http://www.reuters.com/article/hotSt...15608620080121

[Chris Ryser]

Global stocks fall as U.S. recession fears grip
Tue Jan 22, 2008 5:02am EST


By Ian Chua
LONDON (Reuters) - Shares from Sydney to London sank for a second day on Tuesday, dragging commodity prices with them and promising a woeful start for Wall Street as investors dumped assets exposed to the risk of a global economic slowdown.

European stocks, while off early lows, were down more than 1 percent after Japan's benchmark Nikkei lost 5.7 percent -- the worst one-day loss since the session after the September 11, 2001 attacks on the United States -- while MSCI's measure for other Asian stocks tumbled more than 7 percent.

"We're in the midst of very bearish sentiment. There's a lot of fear in this street and worldwide," .................................................

See whole article at http://www.reuters.com/article/newsO...15608620080122

[gemstone]

http://money.cnn.com/data/world_markets/