By Peter D. SchiffGuest ColumnistMoney Morning Money Map Report In a speech before the London School of Economics a week ago, U.S. Federal Reserve Chairman Ben S. Bernanke offered a perverse economic theory in his quest to gather support for never-ending Wall Street bailouts. Said Bernanke: "This disparate treatment, unappealing as it is, appears unavoidable. […]
Archives for January 2009
January 2009 - Page 4 of 12 - Money Morning - Only the News You Can Profit From
Global Investment News Briefs
Sony Forecasts Steel Loss; Parsons New Citi Chairman; Potash Doubles 4Q Profit; Lockheed Post Profit, Issues Warning; Thain resigns from BofA; Geithner Nomination Moves Ahead; GE May Cut Dividend Sony Corp. (ADR: SNE) forecast a full-year operating loss of $2.9 billion as falling demand, a stronger yen and reorganization expenses cut into the company’s earnings. […]
Great Britain - The "Rust Belt" of Global Finance
By Martin HutchinsonContributing EditorMoney Morning/The Money Map Report Think about Michigan or about Ohio’s Mahoning Valley in the 1980s. Both were famous for industries that were world leaders in their time. Yet, once those industries decayed, large parts of both areas became wastelands of home foreclosures, crime and alcoholism. The decline of the global financial […]
Video From Free Money Morning Webinar Available for Viewing
Money Morning Staff Reports Do you want to understand how the U.S. financial crisis really got started? To see how and when such potentially dangerous situations as deflation and, then, inflation will start? To anticipate where the “next” financial bubble will be? To know just what the future holds for interest rates? Investors who want […]
Homebuilders Give Up as New Housing Starts Hit 50 Year Low
Don MillerContributing WriterMoney Morning New housing starts fell in December to the lowest levels since the government started compiling statistics in 1959, as surging unemployment continued to rock the real estate market. The numbers offer more evidence of the dismal economic conditions facing President Barack Obama’s administration. The news confirms a relentless downward spiral for […]
Microsoft, Intel to Cut up to 11,000 Jobs
By Mike Caggeso Associate Editor Money Morning Microsft Corp. (MSFT) and Intel Corp. (INTC) yesterday (Thursday) announced they will cut up to 11,000 jobs and could no longer give quarterly forecasts with global economic uncertainly, after the two tech giants announced declines in the final three months of 2008. Microsoft posted a profit of $4.17 […]
Global Investment News Briefs
Best Buy Names New CEO; IBM to Post Strong 2008 Earnings; BHP Cuts 6,000 Jobs; GM Loses Sales Crown to Toyota; Investors Retreat From Hedge Funds; Housing Market Index Hits New Low; Satyam Seeks Funding; Crude Futures Climb Best Buy Co. (BBY) crowned chief operating officer Brian Dunn as the electronics retailer's new chief executive. […]
The U.S. Market for Deals Remains in a Deep Freeze
[Editor's Note: With the New Year under way, Money Morning will continue to help investors look ahead, and will continue to run installments of our "Outlook 2009" economic forecasting series.] With the U.S. credit markets in lockdown mode, a whipsaw stock market that keeps anyone from getting too comfortable, a banking sector in chaos and […]
Contango Isn’t A Dance In Argentina: It is a Shot at Windfall Profits
Keith Fitz-GeraldInvestment DirectorMoney Morning/The Money Map Report Many investors have given up on oil, fearing that a fall from grace precludes a rise in price from the ashes. But it's worth noting that the oil markets are right now in a rare state of 'super contango,' which suggests that the markets expect far higher prices […]
Brazil Cuts Interest Rates for First Time in 16 Months
By Mike Caggeso Associate Editor Money Morning Brazil's central bank today (Wednesday) cut its benchmark interest rate from 13.75% to 12.75%, its first rate cut in 16 months and a move to guard the country's economy from the global financial crisis. In the past year, it rained pretty hard on Brazil's burgeoning economy. Its Bovespa […]