Important News - Oct. 07
By Daniel at 6 October, 2009, 10:30 pm
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1) Arab Gulf Officials Deny Plan To Ditch USD Oil Trade
1A) Max Keiser says it’s true though. Please see the video and other info at Nathan’s Economic Edge.
1B) This guy on youtube is getting the news out on this and also about a number of store closings(click on “more info”).
2) Apartment vacancy rate hits 23-year high: report
3) Dow Will Fall to 6,300 by Year End: Portfolio Manager
4) The Iowa Public Employees’ Retirement System needs larger payments to make up for losses.
5) Oregon Public Employees Retirement System has largest loss since 1945
6) Asian Central Banks Step Up Forex Intervention
“SINGAPORE — Several Asian central banks intervened in the foreign exchange market Tuesday to curb the rise of their currencies, reflecting an effort to keep their exporters competitive as the U.S. dollar swoons.
The interventions by South Korea, Singapore, Thailand and the Philippines — reported by currency traders, but not confirmed by the authorities — came as Asian currencies soared, with some hitting 12-month highs against the dollar and exacerbating worries about the outlook for the U.S. currency among traders.
The dollar has tumbled against a broad range of major currencies in recent months”
7) Dropping Rents Will Drag House Prices Down with Them
Dollar Living on Its Reputation and Borrowed Time
9) So Why Is the Stock Market Going Higher?
10) Asset Reflation Does Not Signal Recovery for U.S.’s Collapsed Economy
11) The Current Global Economic Worry Is More Deflation than Inflation
12) When State Universities Lose State Support
The budget of the public higher education system of California has been slashed by over 20 percent, on top of previous cuts. Faculty and student protests kicked into place the first week of classes, reflecting enormous contention over the best way to respond.
What’s happening in California is both a harbinger of things to come in other states and an amplification of a national trend.
13) Brighted up our day a little LOL: Stop Trading, Listen to Cramer!
14) Paralysis in the Debt Markets Is Deepening the Credit Drought
“A year after Washington rescued the big names of American finance, it’s still hard to get a loan. But the problem isn’t just tight-fisted banks.
The continued disarray in debt-securitization markets, which in recent years were the source of roughly 60 percent of all credit in the United States, is making loans scarce and threatening to slow the economic recovery. Many of these markets are operating only because the government is propping them up.
But now the Federal Reserve has put these markets on notice that it plans to withdraw its support for them. Policy makers hope private investors will return to the markets, which imploded during the financial crisis.”
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