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- Want A World Full Of Reckless Idiots? A Culture Of Bailouts Will Work Pretty Well
The Federal Reserve and government regulators are largely propping up the lifestyles not of the middle class in general, but of various individuals who made choices that turned out badly and prefer not to live with the consequences. These include people who bought houses they now can’t afford, executives at banks such as Bear Stearns and people who invested in reckless institutions like Fannie Mae.
Only a small number of these people are blameworthy.
Most simply made … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Stock Picks And Trade Ideas For The Week Ahead - BIDU, TRN, JNPR, RMBS
Chart courtesy of stockcharts ( click to enlarge )
Juniper (jnpr) shares surged 17% after the maker of networking equipment reported strong earnings. The stock had slumped about 40% since peaking at a six-year high last October. In addition to the strong … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Lots More Downside For US House Prices?
Anyone who has been around the financial world for a while knows that when prices swing too far away from where they should be based on fundamentals, they eventually revert back towards equilibrium.
However, they usually don’t stop there. More often than not, prices end up overshooting in the opposite direction. In other words, a market that soars to euphoric highs — like, for example, U.S. residential real estate did during the first half of this decade — will, at some point, fall to … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Van Eck Dives Into The Gulf With New ETF
Van Eck is trekking out into frontier markets with the launch of their exchange traded fund (ETF).
Market Vector Gulf States (mes) gives easy access to the gulf states of Bahrain, Kuwait, Oman, Katar and United Arab Emirates.
The fund's expense ratio is 0.50%, with total net expenses at 0.98%. The ETF tracks the Dow Jones GCC Titans 40 Index. The Gulf region has been on a run, thanks to high energy prices. The spending on infrastructure and … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Detroit: Cheaper To Buy A House Than A New Car
The good news is that home sales in the city of Detroit through June are up by a whopping +46.56% (YTD) compared to last year (5,389 homes sold in 2008 YTD vs. 3,677 last year), but the bad news is that the average price for a home sold in Detroit has fallen by 56% to only $19,448 so … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Renewable Energy Politics In Germany
BERLIN, GERMANY: There’s still Russian graffiti from 1945 on the walls of the German parliament. In a room listing Germany’s past lawmakers, a black space marks where Hitler’s name would be. But in a building filled with such history, the energy future is being created.
A long week of intermittent severe storms broke long enough for Barack Obama’s Thursday visit to the reunified capital city, which was hot on everyone’s lips.
But this American was more interested in Germany’s … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Two More Banks Have Failed
This evening the FDIC has announced two additional banks have closed and the FDIC was forced to step in. The following is the official press release from the FDIC:
Mutual of Omaha Bank Acquires All Deposits of First National Bank of Nevada and First Heritage Bank, N.A.
All Insured and Uninsured Deposits Transferred to Acquiring BankFOR IMMEDIATE … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Homeownership Rate In 2Q 2008 Rebounds By Largest Increase In Four Years
The chart above is based on the Census Bureau’s latest release on home ownership rates, and shows the following:
1. The howeownership rate fell below 68% in the … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Foreclosure Picture Worsens…Up 121%
I’ll admit I am beating a bit of dead horse here but when data points like these come in they need to be noted.The foreclosure picture is getting much worse.
From CNNMoney by Les Christie entitled: More foreclosure gloom
“As foreclosures continue to soar, 220,000 homes were lost to bank repossessions in the second quarter, according to a housing market report … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Foreclosures Triple, But Real Estate ETFs Don't Seem Wounded
Foreclosures shot up a whopping 121% in one year, a percentage that could hold back exchange traded funds (ETFs) that focus on the real estate market. About 220,000 homes were repossessed in the second quarter, triple the number from the same quarter last year, reports Les Christie for CNNMoney. The numbers have caused RealtyTrac to reevaluate its forecast, which had been 1.9 million to 2 million for the year. But not even halfway, there have already been 1.4 million foreclosures. A ... [visit site to read more]Переслать - Water Infrastructure - Could It Keep ETFs Afloat?
As water systems across the country and throughout the world become more of an issue every day, many exchange traded tunds (ETFs) could potentially take advantage of this growing problem.
Updates for water systems are estimated to exceed $250 billion in costs over the next 20 years in the United States alone. However, with these sort of upgrades essential throughout the world, water infrastructure is quickly emerging as a market for investors.
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - FDIC Seizes Two More Banks
In what may become an unfortunate sign of the times, the FDIC seized two more banks yesterday:
From Reuters via the NY Times:
“WASHINGTON (Reuters) - U.S. regulators took over two banks on Friday and sold them to Mutual of Omaha Bank, the sixth and seventh bank failures this year as financial institutions struggle with a housing … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Weekend Market Re-cap
US equity markets started strong with the DJIA up about +100 points by 10am ET, then tumbled through the day Friday into a late session loss of about -25 points before closing with a brief flourish. It was a quiet day, supported by a few of the tech names.
Once again, following an opening boom in bank and broker share prices, trader concerns in the financial sector over capital and liquidity concerns ($XBD -2.6% and $BKX -1.0%) pulled the broad market down. There were a series of negatives: … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
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