Some more news on the economic front this morning …
* Mortgage applications plunged in the week ended September 26, according to the Mortgage Bankers Association. The purchase index dropped 10.9% from the previous week, while the refinance index tanked 34.7%. At 304.8, the purchase index is the lowest since February 2002. Interest rates [...]
From the monthly archives:
September 2008
Calculated Risk informs us that the national debt is going to surge over $10 trillion today.
As of Sept 29th, the debt was $9,945,578,231,981.59
Partly to blame is the Supplementary Financing Program (SFP) that the Treasury is using to raise cash for the Federal Reserve’s liquidity initiatives. For example, while the bailout package failed [...]
These seem to be the latest angles of attack for the government, which is wrestling with how to amend or replace the bailout bill. From a New York Times item:
“As they worked to make the government bailout plan more palatable, Senators John McCain and Barack Obama on Tuesday both proposed raising the federal insurance [...]
The Chinese successfully completed their space walk and safely returned its three astronauts.
China is far from done though. China is planning to launch a space laboratory in 2011, a manned space station, and landing a man on the moon.
Oil falls to near $103 on concerns US bailout package won’t halt global slowdownOil prices fell to near $103 a barrel in Asia Monday on concern that economic growth will slow across the globe despite a tentative agreement in Washington on a $700 billion bailout package [...]
In one of my recent blog posts I told you now was a great time to buy Asia — particularly the energy markets — and I gave you three of my favorite Asian energy companies to consider. I hope you did.
The Asian markets are already starting to once again outperform the U.S. markets. To [...]
I like to tell it like it is. No spin. No B.S. Just straightforward common sense analysis.
And you may not like what I’m about to say. But I’m going to say it anyway. Those so-called Wall Street “experts” and other “pundits” are as ignorant a lot as I’ve ever seen!
They continue to get [...]
Here’s a chart I was unable to include in the Red-Hot Commodity ETFs issue that went out this morning. Naturally, when I’m trying to send out an issue, there’s a computer problem.
If you think the US dollar has another leg down — and I do — then GLD shows real potential. If [...]
NEW YORK/LONDON (Reuters) Sept. 25 — The U.S Mint told dealers Thursday it again was temporarily suspending sales of American Buffalo 24-karat gold one-ounce bullion coins. In mid-August, a shortage of American Eagle one-ounce gold coins due to “unprecedented” demand had forced the U.S. Mint to temporarily suspend sales of the popular coins.
Coin dealers [...]
Apparently, House Republicans are in open revolt against the Wall Street bailout plan put forth by the White House and Treasury Secretary Henry Paulson. Part of it may have to do with all the changes that the Democrats made to the plan to make it palatable to their constituents, like allocating 20% of profits [...]
