By Peter D. SchiffGuest Columnist For those holding out hope that the American economy can miraculously avoid a long and deep recession, consumer credit is often viewed as the wonder drug that can cure all manner of economic ills. As such, last week's report showing that consumer credit grew by $15 billion was widely heralded […]
Archives for May 2008
May 2008 - Page 7 of 14 - Money Morning - Only the News You Can Profit From
Is Brazil "Investment Grade" for Investor's Money, Too?
By Martin HutchinsonContributing Editor Brazil is a lot like a person who gets a new job, pays off some of his debts, and has his credit score upgraded. In pretty short order, all the charge-card companies boost his credit limits, cut the interest rates he's paying on his outstanding balances, offer him new credit lines […]
Home Foreclosures Continue to Rise, But Biggest Jump Still to Come
By Jennifer YousfiManaging Editor Foreclosure filings hit an all-time high with a 65% year-over-year increase in April and a 4% increase from March, RealtyTrac reported yesterday (Wednesday). RealtyTrac Chief Executive James J. Saccacio said the 243,353 foreclosure filings last month was the highest since his firm began tracking the data in January 2005, The Wall […]
Consumer Prices Moderate in April but Soaring Food Prices Steal the Show
By Jason SimpkinsAssociate Editor U.S. consumer prices rose less than forecast in the month of April, assuaging some inflation fears, but food prices experienced their biggest jump in 18 years. The consumer price index rose 0.2% in April after edging up 0.3% the month prior, the Labor Department said yesterday (Wednesday). Core prices, which exclude […]
As the Write-Downs Wind Down, New Deals Appear in the CDO Market
By Jennifer YousfiManaging Editor With 80% of losses from the subprime crisis already reported according to a Fitch Ratings Inc. report released today (Wednesday), the collateralized debt obligation (CDO) market that many had written off for dead could be showing new signs of life. Many have laid the blame for the current credit crunch squarely […]
Japan's "Lost Decade" Has Given Way to the New Asian Reality - But Only if you Know Where to Look
By Keith Fitz-GeraldInvestment DirectorMoney Morning/The Money Map Report KYOTO, JAPAN – On one of my first mornings at our home here, my family and I headed for the Fushimi Inari Taisha shrine. Built in the 8th century by the powerful Hata family, the shrine is best known for the four consecutive kilometers of orange Torii […]
The View From China: As it Continues to Change, China Offers a Growing Number of Profit Plays to Investors Who are Willing to Look
Money Morning Investment Director Keith Fitz-Gerald – an Asia investing expert – has been leading an investment trip through China, taking in that country's culture and scenery, as well as its investment opportunities. Here is Part VI – the final installment – of a short news series detailing his observations and discoveries. By Keith Fitz-GeraldInvestment […]
Global Investing Roundups
HP Buys EDS; St. George Agrees to Westpac Takeover; UPS Fights Uphill Battle Against Gas Prices; Cameco Profit's a "Cake" Walk; Petrobras Post 68% 1Q Profit; High Cost of Oil Dampens Demand; AIG Raises Capital; Yahoo Jumps on Possible Proxy Battle Hewlett-Packard Co. (HPQ) is buying Electronic Data Systems Corp. (EDS) for $13.2 billion in […]
Iron Ore Proves to be the Most Coveted Commodity in the Pacific
By Jason Simpkins Associate Editor There has been little said about BHP Billiton Ltd.'s (BHP) attempted takeover of Rio Tinto PLC (RTP) in recent months, but the proposal is far from dead. In fact, rumors that BHP may increase its bid have brought about even more speculation that China's largest steelmakers will further enter the […]
Retail Sales Slip Even as Consumers Continue to Spend
By Jennifer YousfiManaging Editor Both discount retail giant Wal-Mart Stores Inc. (WMT) and high-end fashion bellwether maker Liz Claiborne Inc. (LIZ) reported earnings yesterday (Tuesday), but their vastly divergent results offered glimpse into the often-evasive mind of the American consumer. Story continues below… The Bentonville, Ark.-based Wal-Mart, a beacon of blue-collar commercialism known for its […]