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from Silver Vigilante:
More than 40% of US citizens between the ages of 50-65 are planning onselling their homes and McMansion’s for something smaller and more practical, as “prospective downsizers exceed would be ‘upsizers’ by nearly 3-1,” reports the WSJ. They are under the assumption that, by downsizing, their lives will be made simpler and more inexpensive. While the former depends on each individual, the latter is certainly not always the case. Bulking [...]
http://www.twitter.com/NourHammoury
S&P lowers Greece ratings outlook to negative
“Standard & Poor’s said Tuesday it was lowering its outlook on Greece to negative from stable on the possibility that it may fail to secure further bailout funds from the European Union and the International Monetary Fund. S&P has CCC/C long- and short-term foreign and local currency sovereign ratings on Greece. “We see the likelihood of shortfalls, owing to election-related delays in the implementation [...]
Moodys lowered Germany’s outlook from ‘stable’ to ‘negative’
A similar move was announced for the Netherlands and Luxembourg
All three could potentially have to stump up cash to bail out Spain and Italy
German government claims its economy ‘remains very solid’
Move puts pressure on FTSE 100 but markets stabilise this morning
Moody’s took the first step toward stripping Germany of its coveted AAA credit rating yesterday by cutting the outlook for Europe’s largest and [...]
Moody’s Investors Serviceon Tuesday downgraded Chicago Public Schools’bondrating after the cash-strapped district proposed a budget that would deplete its financial reserves.
Moody’s lowered its outlook for the district from stable to negative, citing its $5.9 billion in general obligation bond debt. The agency’s lowered rating means it will cost more for the CPS to issue bonds.
“Today’s decision underscores the grave fiscal situation facing the Chicago Public Schools,” said CPS spokeswoman Becky Carroll. [...]
The social media world came to a screeching halt Thursday afternoon when Twitter unexpectedly crashed. Access remains spotty.
The outages began about 11.50am, when the microblogging site stopped loading for many of its 140 million customers.
The company has not released the cause of the outage, but said the trouble is on-going and engineers are working to fix the problem.
Fail Whale: This stable of Twitter crashes didn’t even appear — the problem [...]
German Chancellor Angela Merkel made her final remarks on the Greek election this morning, telling members of her party that broken promises made by fellow Europeans will no longer work.
“Promised, broken, nothing happens — things cannot under any circumstances continue this way in Europe,” Merkel said, according to the Associated Press.
She continued:
It cannot be the case — and this is also an issue now in connection with the Greek election — [...]
Internet Bubble: How hard was it not buy AOL when it was going up 50% a year? Don’t people know all bubbles end badly?
- That was stupid
Housing Bubble: How hard was it not buy a house with 0% down, on a 1 year ARM, with a mortgage you couldn’t afford unless your it appreciated 20% in a year?
- That was stupid
Education Bubble: Not just law school but the entire for [...]
While the technocrats cling to their vision for a European Bloc (amid a tumbling ‘stable’ EUR), Italian Prime-Minister-in-lieu Mario Monti is spreading the good word. Presented with little comment, via Bloomberg headlines, from a press conference in Rome, the Goldmanite builds the bridge to nowhere that the Socialist construct is unsustainable, yet the EFSF needs more funding to ensure the unsustainable social welfare model remains, err, unsustainable?
*MONTI SAYS EUROPE MUST [...]
Fitch again warns U.S. debt burden threatens AAA rating
“NEW YORK (Reuters) – Fitch Ratings on Wednesday warned again that the United States’ rising debt burden was not consistent with maintaining the country’s top AAA credit rating, but said there would likely be no decision on whether to cut the rating before 2013.
Last month, Fitch changed its U.S. credit rating outlook to negative from stable, citing the failure of a special [...]
From Peter Tchir of TF Market Advisors
It Is Getting Difficult To Tell What Is Moving The Market…
…but if Fitch changing the outlook from positive to stable on Bulgaria, Czech, Lativa, and Lithuania can push us down 0.5% then if you are long, you need to be putting on some sort of a hedge. I’m not a big fan of puts, and maybe this isn’t the news that caused the market [...]
By Chris Oliver
HONG KONG (MarketWatch) — China’s Commerce Ministry warned Wednesday on the nation’s trade outlook, saying conditions for the remainder of the year and into the first quarter of 2012 look tough, according to reports from the region. A Commerce Ministry spokesman also said that China should keep the yuan’s exchange rate stable for the time being.
(Reuters) – The Guardian newspaper apologized on Friday for reporting that the Sun, part of Rupert Murdoch’s News International stable, had obtained information about former prime minister Gordon Brown’s son from medical records.
The newspaper, which has played a pivotal role in revealing details of the News of the World phone hacking scandal, printed a one-paragraph apology on page 36.
“In fact the information came from a different source and the Guardian [...]
The Federal Reserve should focus on keeping prices under control, leaving the government to try to boost the U.S. economy and jobs, Richmond Federal Reserve Bank President Jeffrey Lacker said in an interview Friday.
Though frustrated by a recovery that continues to be slow and choppy two years after the recession ended, Lacker said further monetary stimulus by the Fed would likely show up “almost entirely” in inflation, which is already [...]
(Reuters) – Ratings agency Fitch on Friday cut its outlook on Japan’s sovereign debt, warning that the vast cost of a March earthquake and tsunami and the still-unknown bill for the clean-up after the nuclear disaster would further strain the country’s already shaky public finances.
The Fitch move means all three major ratings agencies now have their fingers poised on the trigger to downgrade Japan’s credit status unless they see moves [...]
There have been increasing concerns about the fate of United States’ prized triple-A sovereign debt rating. While Standard and Poor’s recently downgraded its U.S. debt outlook to negative from stable, implying that a ratings cut could happen in two years, one independent ratings agency has given the U.S. sovereign rating a “C”.
“A ‘C’ is equivalent to approximately a triple-B on the S&P, Moody’s and Fitch scales. It’s [...]
TOKYO (MarketWatch) — Standard & Poor’s said Wednesday it cut its outlook on Japan’s sovereign rating to negative from stable, to reflect the potential for a downgrade if fiscal deterioration exceeds estimates. S&P said it expectes costs related to the March 11 disaster to increase Japan’s fiscal deficits above prior estimates by a cumulative 3.7% of gross domestic product through 2013. Still, it said, “Japan’s sovereign ratings are supported at [...]
WASHINGTON (MarketWatch) — Standard & Poor’s cut its ratings outlook on the U.S. to negative from stable while keeping its Triple-A rating on the world’s largest economy. “More than two years after the beginning of the recent crisis, U.S. policymakers have still not agreed on how to reverse recent fiscal deterioration or address longer-term fiscal pressures,” said Standard & Poor’s credit analyst Nikola G. [...]
by PhattyBuoy
The radiation level of the dry well of the Reactor 1 Container Vessel has been rather high, and fluctuating, indicating that the reactor is far from stable.
#1 Drywell readings between 30 Sv & 50 Sv for the last 3 weeks !
http://atmc.jp/plant/rad/?n=1
#2 Sv readings DryWell & SupressionChamber
http://atmc.jp/plant/rad/?n=2
#3 Sv readings DW & SC
http://atmc.jp/plant/rad/?n=3
- – – – – – – – – – – – – -
by Ident 7777 economy, [...]
by ZH
Just released from S&P: “Following new European Union regulations on credit ratings, we are converting our issuer credit ratings on these sovereigns and the ECB to “unsolicited“, as we do not have rating agreements with the rated entities. Standard & Poor’s will nonetheless continue to rate the seven sovereigns and the ECB, and classify the ratings as unsolicited, as we believe that we have access to sufficient [...]
Foreclosures continue to rise. Just last week, Realtytrac reported that homes in default or foreclosure represent over 14% of all homes in America. The foreclosure rate for Q1 reached a new record high. This is not conducive to stable, much less increasing home sales. By late summer, home sales will atrophy!
The market is already showing signs that it can’t stand on it’s own. New mortgage applications are down 27%, banks [...]
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