Boom2Bust.com Boom2Bust.com The Most Hated Blog On Wall Street. Boom2Bust.com is an independent financial blog that seeks to warn and educate its readers about the coming U.S. financial crash. Articles
Signs Of The Time, Part 1
2008-01-28 19:19:00 In trying to determine the direction of the U.S. economy, practitioners of the ?dismal science? would argue that we should focus primarily on the empirical data at hand. Yet, can we also find clues as to where we are heading from what?s going on around us in our daily lives? Are there things ... More About: Economy , Time , Signs , Part , Economists
Weird Housing Tales, Part 2
2008-01-28 01:24:00 Has your home been on the market for a while, and no takers? Thinking about lowering the asking price? Watch out! A while back, I came across the following on the blog Surviving The Crash: I?m so mad at my neighbor. I bought my new home here in Ashburn last summer and ... More About: Weird , Housing , Tales , Part , Homeowners
Quote For The Week
2008-01-28 00:30:00 I come across so many great quotations in my research that I?d like to share some of the more memorable ones with Boom2Bust readers on a weekly basis from now on. I hope they?re at least a little bit entertaining. As Lina Lamont in the movie Singin? In The Rain said: If we bring ... More About: Week , Quote
Grantham: ?Most Important U.S. Financial Crisis Since World War Two?
2008-01-25 20:23:00 Jeremy Grantham, chairman of global investment management firm Grantham, Mayo, Van Otterloo & Co. and overseer of $157 billion, had a stark warning for Bloomberg readers Wednesday (much obliged, Financial Armageddon). He warned, ?This is the most important U.S. financial crisis since World War II.? The crisis stems from a global credit crunch brought on ... More About: Economy , Stocks , Credit , World War
Banks May Write Down Additional $300 Billion
2008-01-25 18:27:00 Yesterday, global strategy consulting firm Oliver Wyman said in a new study that an additional $300 billion in write-downs related to the U.S. subprime mortgage meltdown may be announced by banks before the crisis is over. Back on January 18 I noted that write-downs had already surpassed $100 billion. In a press release picked up ... More About: Europe , India , Asia , Japan , Stocks
Debunking A Housing Myth
2008-01-24 22:19:00 One myth consistently heard during the recently-deceased housing boom was that ?home prices always go up.? Utter nonsense. Earlier today, the National Association of Realtors reported that the median price of an existing single-family home fell 1.8% for all of 2007, the first time in the 40-year history of the survey. MarketWatch added, ?Although no ... More About: Housing , Federal Reserve , National Association of Realtors , Myth
Soros: Worst Financial Crisis Since World War Two
2008-01-23 21:35:00 George Soros, the Hungarian-born billionaire investor, philanthropist, and author, told the Austrian publication The Standard that the world was facing the worst financial crisis since World War Two. Speaking to other news agencies, the former Quantum Fund head also warned the economies of the United States and United Kingdom are threatened by recession. Soros, most ... More About: World War , World War Two , Financial , Crisis
Soros: Worst Financial Crisis Since World War Two
2008-01-23 21:35:00 George Soros, the Hungarian-born billionaire investor, philanthropist, and author, told the Austrian publication The Standard that the world was facing the worst financial crisis since World War Two. Speaking to other news agencies, the former Quantum Fund head also warned the economies of the United States and United Kingdom are threatened by recession. Soros, most ... More About: World War , World War Two , Financial , Crisis
Fed Curve Ball Gets Stock Market Out Of Tough Inning
2008-01-23 18:28:00 Message to the Federal Reserve. Nice curve ball. Pre-empting a massive stock market plunge on Wall Street, an hour before trading was to begin yesterday the Federal Reserve cut its benchmark interest rate by 75 basis points, the most in 23 years. As a result of the action, the Dow Jones Industrial Average plummeted nearly ... More About: Europe , Economy , Stocks , Stock Market , Market
Fed Curve Ball Gets Stock Market Out Of Tough Inning
2008-01-23 18:28:00 Message to the Federal Reserve. Nice curve ball. Pre-empting a massive stock market plunge on Wall Street, an hour before trading was to begin yesterday the Federal Reserve cut its benchmark interest rate by 75 basis points, the most in 23 years. As a result of the action, the Dow Jones Industrial Average plummeted nearly ... More About: Europe , Economy , Stocks , Stock Market , Market
The Fed: Where Disco Lives Forever?
2008-01-22 19:38:00 As you?ve probably heard already, the Federal Open Market Committee of the Federal Reserve decided to lower the federal funds rate 75 basis points to 3.5% one hour before Wall Street was due to begin trading this morning. The Fed explained in a press release: The Committee took this action in view of a weakening of ... More About: Forever , Lives , Disco
The Fed: Where Disco Lives Forever?
2008-01-22 19:38:00 As you?ve probably heard already, the Federal Open Market Committee of the Federal Reserve decided to lower the federal funds rate 75 basis points to 3.5% one hour before Wall Street was due to begin trading this morning. The Fed explained in a press release: The Committee took this action in view of a weakening of ... More About: Forever , Lives , Disco
Watch Them Work It
2008-01-22 16:26:00 An hour before the start of trading on Wall Street, the Federal Reserve released the following: For immediate release The Federal Open Market Committee has decided to lower its target for the federal funds rate 75 basis points to 3-1/2 percent. The Committee took this action in view of a weakening of the economic outlook and increasing downside ... More About: Economy , Watch , Government , Stocks , Credit
Watch Them Work It
2008-01-22 16:26:00 An hour before the start of trading on Wall Street, the Federal Reserve released the following: For immediate release The Federal Open Market Committee has decided to lower its target for the federal funds rate 75 basis points to 3-1/2 percent. The Committee took this action in view of a weakening of the economic outlook and increasing downside ... More About: Economy , Watch , Government , Stocks , Credit
Stock Markets Fall Around The Globe
2008-01-22 00:42:00 Returning to work on Monday is hardly ever fun. Losing a ton of money makes it even worse. While American financial markets were closed in remembrance of Martin Luther King, Jr., stock markets around the world were being hammered. Indexes in Japan, China, Hong Kong, India, South Korea, and Singapore fell at least 3%. Indian stocks ... More About: Markets , Stock , Globe , Fall , Stock markets
Stock Markets Fall Around The Globe
2008-01-22 00:42:00 Returning to work on Monday is hardly ever fun. Losing a ton of money makes it even worse. While American financial markets were closed in remembrance of Martin Luther King, Jr., stock markets around the world were being hammered. Indexes in Japan, China, Hong Kong, India, South Korea, and Singapore fell at least 3%. Indian stocks ... More About: Markets , Stock , Globe , Fall , Stock markets
Will Tax Credits For Home Buyers Stimulate The U.S. Economy?
2008-01-21 03:36:00 Las Vegas, March 2003. I?m in from Chicago for a bachelor party and notice two of the guys I?m with are upset at each other. One of them, Jim, tells me that Bob is angry at him because he?s not gambling enough at the hotel/casino we?re staying at. Jim, who has a wife and kid ... More About: Economy , Home Buyers , Home , Buyers , Credits
Will Tax Credits For Home Buyers Stimulate The U.S. Economy?
2008-01-21 03:36:00 Las Vegas, March 2003. I?m in from Chicago for a bachelor party and notice two of the guys I?m with are upset at each other. One of them, Jim, tells me that Bob is angry at him because he?s not gambling enough at the hotel/casino we?re staying at. Jim, who has a wife and kid ... More About: Economy , Home Buyers , Home , Buyers , Credits
Wall Street Bonuses: Money For Nothing?
2008-01-19 05:00:00 ?The reward of a thing well done is to have done it.? -Ralph Waldo Emerson, American author, poet, and philosopher On Friday, the Washington Post announced that Wall Street ?s five biggest firms paid a record $39 billion in bonuses for 2007, even though three of the five reported the worst quarterly losses in their history. In 2006, ... More About: Stocks , Money , Goldman Sachs
Wall Street Bonuses: Money For Nothing?
2008-01-19 05:00:00 ?The reward of a thing well done is to have done it.? -Ralph Waldo Emerson, American author, poet, and philosopher On Friday, the Washington Post announced that Wall Street ?s five biggest firms paid a record $39 billion in bonuses for 2007, even though three of the five reported the worst quarterly losses in their history. In 2006, ... More About: Stocks , Money , Goldman Sachs
Former Fed Chair Volcker Critical Of U.S. Central Bank
2008-01-19 02:11:00 Former Federal Reserve Chairman Paul Volcker was recently interviewed by the New York Times Magazine for a story it will be running Sunday. Reuters was able to obtain the text in advance of the publication, and reported Wednesday that Volcker thinks the Federal Reserve is to blame for asset markets being blown into bubbles, and ... More About: Economy , Government , Inflation , Interest Rates , Dollar
Write-Downs: $107.8 Billion And Counting
2008-01-19 01:00:00 Well, it?s official. According to the Wall Street Journal this morning, write-downs related to the U.S. subprime mortgage meltdown now surpass $100 billion. From the Journal?s MarketBeat Blog, here is the damage to-date: Merrill Lynch- $22.4B Citigroup- $19.9B UBS- $14.4B Morgan Stanley- $9.4B HSBC- $7.5B Credit Agricole- $3.6B Deutsche Bank- $3.2 Bank of America- $3.0B CIBC- $3.0B* Wachovia- $2.7B* AIG- $2.7B Barclays- $2.7B RBS- $2.5B Credit Suisse- $1.9B Bear Stearns- ... More About: Write , Mortgages , Derivatives , Brokerages , Investment Banks
Weird Housing Tales, Part 1
2008-01-18 00:34:00 Once in a while, I come across some really weird stories about Americans? infatuation with everything housing-related. Try this one on for size. ?Jane Zinfandel,? as I?ll call the protagonist of the story, was in the process of having her home?s exterior re-painted. Apparently, Mrs. Zinfandel wanted her door?s appearance to be different from any ... More About: Weird , Housing , Tales , Part , Homeowners
Recession Fears Grow As America Looks To Stimulus Plan
2008-01-17 19:32:00 The Associated Press reported earlier today that President Bush and Federal Reserve Chairman Ben Bernanke have ?embraced calls? for an economic stimulus package to avert recession. Bernanke warned Washington politicians, however, that any delays would be costly: To be useful, a fiscal stimulus package should be implemented quickly and structured so that its effects on aggregate ... More About: America , Plan , Recession , Fears , Grow
Panic In The Streets
2008-01-16 18:20:00 This morning I read an interesting article by Steven Pearlstein of the Washington Post. In ?Caught in a Downdraft and Starting to Panic ,? Pearlstein noted how Main Street and Wall Street have come to terms with a troubled economy: The country and Wall Street have already made great progress in moving through the stages of economic ... More About: Streets , The Streets
Consumer Confidence: How Low Can You Go?
2008-01-16 17:20:00 Yesterday, the results of an ABC News poll showed that expectations of the U.S. consumer for an improving economy slipped to a 16-year low this week. In a monthly measure of expectations, 5% of those surveyed say the economy is getting better, the fewest since December 1991, while 65% says the U.S economy is getting ... More About: Economy , Consumer , Confidence , Consumers
?We Only Put Out Good News Here On The Economy?
2008-01-16 00:39:00 Regular readers of Boom2Bust.com have probably realized by now that I use quite a number of overseas sources for my posts. Reason being? I?m concerned that we may not be getting a clear picture of our economic health from the American media. Consider the following from Euro Pacific Capital?s Peter Schiff in chapter 2 of ... More About: News , Economy , Good News , Good
British Bank Predicts U.S. Headed For Recession
2008-01-15 22:53:00 This morning CNN Money reported that London-based Standard Chartered Bank is predicting the U.S. economy is heading for a recession which will last until next year. Standard Chartered Bank was founded in 1852 and has operations in more than fifty countries. The bank?s chief economist, Gerard Lyons, said, ?The US economy in our view is ... More About: Economy , Interest Rates , British , Federal Reserve
Wall Street Write-Downs Approach $100 Billion Mark
2008-01-15 22:10:00 Earlier today Wall Street Journal bloggers reported that write-downs related to the U.S. subprime mortgage meltdown have reached $96 billion after Citigroup announced another $17.4 billion in write-downs. A post in the Deal Journal predicted that this amount is expected to top $100 billion by the end of the week. According to the blog, when you ... More About: Credit , Write
How The U.S. Housing Slump Became An English Football Club?s Problem
More articles from this author:2008-01-15 05:00:00 According to The Guardian (UK) yesterday, Liverpool Football Club, an English professional football (soccer) club, ?could change hands for the second time in a year as their American owners encounter difficulties in refinancing £350 million of debt incurred in taking over and running the club.? The London-based newspaper attributed the problem to the global credit ... More About: Credit , United Nations , Housing 1, 2, 3, 4, 5, 6, 7 |
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