economic crisis housing
economic crisis housing
Economic Crisis – No country is immune from the gloom
After a volatile 5 days, world stock markets just managed to close last 5 days in the black. It was a week of two halves with the good work from the start of the week being undone in the second half as traders slipped into reverse gear on Thursday and Friday. At least markets managed to hold the gains from the previous week which in the context of the bear market is no mean feat.
The massive influx of money from the US Fed and UK Treasury led to a substantial increase in both crude oil and gold prices last week. Crude prices pushed through the $50 level for the first time since the start of 2009, while Gold endured a remarkable week, trading as low as $883 and finishing at $951. It is no coincidence that these two markets are trading higher in tandem as they are both linked with inflation expectations. Gold is traditionally seen as an inflation hedge, while oil is a barometer for global economic activity. With the Fed turning on the printing presses yesterday, inflation fears are once again creeping into investor’s consciences.
The Fed’s plans have been described as a ‘shock and awe’ tactic, a phrase first used to describe the initial stages of the conflict in Iraq. There was certainly a shock last week, with the dollar registering its 3rd biggest single day decline ever. However, after an initial rally, there was no awe from equity markets as investors fret that like the Iraq conflict, there are no plans in place to tidy up the inflation mess that could be round the corner. The Greenback’s weakness has dampened what would have been an excellent week for oil majors such as BP, which derive much of their income in the form of US dollars.
This took the shine off the solid performance from other sectors such as financials. Although AIG sparked Obama’s ire with its bonus payments, it was on the whole a good week for the banks. Citigroup performed a reverse stock split, finishing down, but Barclays, Lloyds, RBS and HSBC all performed well. News that Barclays is planning to sell its shares unit has added fuel to the fire, with HSBC also benefiting from the ‘independence’ premium. The success of HSBC’s rights issue may have also encouraged financials.
The dollar wasn’t just punished because of the Fed’s action, though this was certainly a significant catalyst. There were also rumours last week that the UN may push for countries to diversify their currency reserves across a basket of currencies, rather than being so heavily weighted in the US dollar.
With China holding massive reserves of US dollars, diversification could lead to an oversupply on world markets, and a further depreciation in the value of the dollar. There were gains for the pound against the dollar, but sterling didn’t escape punishment against the euro. UK Plc was singled out for punishment on news that unemployment reached a 12 year high. There are concerns about the EU’s exposure to Eastern Europe, but this for the moment is being outweighed by the state of the UK and US economies.
This week’s economic highlights include US existing home sales on Monday and UK CPI on Tuesday. Wednesday is another busy day with German IFO, and UK CBI realised sales, US durable goods, and US new home sales to come in the afternoon. Thursday brings UK retail sales and US unemployment claims, and Friday sees the latest UK current account data released. Sometime in the week, Nationwide will release their latest UK house price index, and the MPC inflation report hearing is tentative for Friday.
With the economic crisis being a truly global phenomenon, no country is immune from the gloom. This makes picking a strong currency a tricky task which some analysts have termed ‘ugly contest’. Gavekal wrote last week that “away from the spotlight, some currencies either offer tremendous value because they have been oversold concerns about debt exposure or because they have sound-enough fundamentals which, in these panicked times, the markets are ignoring.” Last week the commodity currencies such as the Norweigen Krona and Canadian dollar were highlighted as being overlooked and likely to benefit the most from any return to stability in the global economy.
A bull bet predicting that the USD/ CAD will be lower than 1.2300 this time next year (360 days), could return 105% at BetOnMarkets.com.
About the Author
Address:
Regent Markets (IOM) Limited
3rd Floor, 1-5 Church Street,
Douglas, Isle of Man IM1 2AG,
British Isles.
Phone: 448003762737
Email: editor@regentmarkets.com
URL: http://www.betonmarkets.com & http://www.betonmarkets.co.uk
Does Obama have any credibility to handle the current economic crisis?
What makes people think that he can tackle the housing mess and the Wall Street crisis?
No, neither candidate does and it is hipe to believe the power of presdiency ever had that power. They never did and congress has the power. Most of the campaign promises do not fall within the power of the u.s. presidency to address. What president since Eisenhower has kept a campaign promise? None. The Bush administration with Congress could have easily prevented the economic recession, but they chose not to. Neither candidate has the ability to change anything and since Franklin D. Roosevelt the administratons
of JFK fought a money war, Carter lost the famly farmers, Reagon crushed unions, Clinton signed NAFTA cancelling Art 4 of the constitution, Bush and his father promoted their interests in the Carlyle Group, as 9th largest defense contractor. Had the elected offical not had financial interests in VietNam, Afghanastan, Iraq, there would have been no war. The U.S. did nothing to help the people of a South American country, who’s blood filled the rivers by the millions because they was no oil under their ground. When theres oil involved, then the rights of people are important, but when theres no oil, millions of people can be butchered. I voted for OBama because the granddaughter of Eisenhower endorces him and her knowledge is deep, and goes back to the days when the U.S. was a united country. Thus far she is the only really credible source I have
faith in.
|
|
(1000) WHOLESALE ANTI OBAMA BUMPER STICKERS~OOPS! (c) HIGH QUALITY VINYL! $415.80 |
|
|
(500) WHOLESALE ANTI OBAMA BUMPER STICKERS~REVOLT (c) LMFAO HIGH QUALITY VINYL! $251.96 |
|
|
Conservative Bumper Sticker Ultimate Collection! 350+, Anti Obama Stickers! $199.00 |
|
|
Anti Obama Bumper Sticker MULTI-PACK 125+ pcs! $149.00 |
|
|
Tea Party Anti Obama Decal Bumper Sticker GOP 3″ x 9″ T $140.00 |
|
|
Tea Party Anti Obama Decal Bumper Sticker GOP 3″ x 9″ U $140.00 |
|
|
Tea Party Anti Obama Decal Bumper Sticker GOP 3″ x 9″ V $140.00 |
|
|
(250) WHOLESALE ANTI OBAMA BUMPER STICKERS~REVOLT (c) LMFAO HIGH QUALITY VINYL! $134.36 |
|
|
LOT OF 12 NEW ANTI OBAMA T SHIRTS 2 S 2 M 4 L 4 XL $119.00 |
|
|
Anti Obama “Nobama” bumper sticker (lot of 50 stickers) $99.00 |
|
|
Tea Party Anti Obama Decal Bumper Sticker GOP 3″ x 9″ Q $75.00 |
|
|
Tea Party Anti Obama Decal Bumper Sticker GOP 3″ x 9″ R $75.00 |
|
|
Tea Party Anti Obama Decal Bumper Sticker GOP 3″ x 9″ S $75.00 |
|
|
10 Recycle anti Obama T-shirts republican WHOLESALE $74.99 |
|
|
1-20-13 anti Obama conservative 10 T-shirts WHOLESALE $74.99 |
|
|
NEW Obamao anti against Obama 10 T-shirts WHOLESALE $74.99 |
|
|
NObama 10 T-shirts WHOLESALE anti against Obama S-3X $74.99 |
|
|
NOPE 10 T-shirts WHOLESALE anti Obama S-3X conservative $74.99 |
|
|
President Ronald Reagan Bills – 250 Pack – Capitalist Conservative Anti Obama $69.95 |
|
|
Anti Obama “Nobama” bumper sticker (lot of 30 stickers) $60.00 |
|
|
(20) 1-20-13 / NOPE anti Obama bumper stickers $59.99 |
|
|
(100) WHOLESALE ANTI OBAMA BUMPER STICKERS~REVOLT (c) $58.76 |
|
|
NOBAMA Barack Obama Anti President Trump Hoodie T-Shirt $49.95 |
|
|
NOBAMA Barack Obama Anti President Trump Hoodie T-Shirt $49.95 |
|
|
NOBAMA Barack Obama Anti President Trump Hoodie T-Shirt $49.95 |
|
|
NOBAMA Barack Obama Anti President Trump Hoodie T-Shirt $49.95 |
|
|
NOBAMA Barack Obama Anti President Trump Hoodie T-Shirt $49.95 |
|
|
Anti Obama Black T-Shirt, with hand painted universal NO symbol! $45.99 |
|
|
Anti Obama Black T-Shirt, with hand painted universal NO symbol! $45.99 |
|
|
Anti Obama Black T-Shirt, with hand painted universal NO symbol! $45.99 |
|
|
Tea Party Anti Obama Decal Bumper Sticker GOP 3″ x 9″ N $45.00 |
|
|
Tea Party Anti Obama Decal Bumper Sticker GOP 3″ x 9″ O $45.00 |
|
|
Tea Party Anti Obama Decal Bumper Sticker GOP 3″ x 9″ P $45.00 |
|
|
NOBAMA Barack Obama Anti President Trump Hoodie T-Shirt $44.95 |
|
|
NOBAMA Barack Obama Anti President Trump Hoodie T-Shirt $44.95 |
|
|
NOBAMA Barack Obama Anti President Trump Hoodie T-Shirt $44.95 |
|
|
NOBAMA Barack Obama Anti President Trump Hoodie T-Shirt $44.95 |
|
|
NOBAMA Barack Obama Anti President Trump Hoodie T-Shirt $44.95 |
|
|
Retro USA Flag Ron Paul 2012 President anti Obama Revolution T-Shirt Hoodie $44.95 |
|
|
Retro USA Flag Ron Paul 2012 President anti Obama Revolution T-Shirt Hoodie $44.95 |
|
|
Retro USA Flag Ron Paul 2012 President anti Obama Revolution T-Shirt Hoodie $44.95 |
|
|
NOBAMA Barack Obama Anti President Trump Hoodie T-Shirt $43.95 |
|
|
NOBAMA Barack Obama Anti President Trump Hoodie T-Shirt $41.95 |
|
|
Anti Barack Obama OMG Must Go Funny T-Shirt Hoodie $40.45 |
|
|
Anti Barack Obama OMG Must Go Funny T-Shirt Hoodie $40.45 |
|
|
Retro USA Flag Ron Paul 2012 President anti Obama Revolution T-Shirt Hoodie $40.45 |
|
|
Retro USA Flag Ron Paul 2012 President anti Obama Revolution T-Shirt Hoodie $40.45 |
|
|
Retro USA Flag Ron Paul 2012 President anti Obama Revolution T-Shirt Hoodie $40.45 |
|
|
Retro USA Flag Ron Paul 2012 President anti Obama Revolution T-Shirt Hoodie $40.45 |
|
|
Retro USA Flag Ron Paul 2012 President anti Obama Revolution T-Shirt Hoodie $40.45 |
|
|
Barack Obama Countdown Clock $6.13 This Barack Obama Countdown Clock is the perfect gift for those who simply can’t wait until Obama is out of office! Are you frustrated with the current administration? Are you not stimulated by the President’s stimulus package? Instead of rioting and taking to the streets, know how many days are left before he is out of office. With this Obama countdown clock, every measurement from years to secon… |
|
|
NoBama Hopey Changey Anti-Obama Mug $15.95 Express your opinion on your coffee mug!… |
|
|
I WAS ANTI OBAMA BEFORE IT WAS COOL Political 1.25 MAGNET ~ Barack $0.01 These magnets are manufactured from the highest quality materials, made of a hard metal base, thick mylar, strong magnet and true to life vibrant colors. Put them on your refrigerator, locker, file cabinet or any metal object you can think of! Magnets are great party favors for your next gathering and also make great prizes/giveaways. They are wonderful gifts for everyone!… |
|
|
WIPE OUT OBAMA-FUNNY TOILET PAPER-MADE IN THE USA!! $6.95 Wipe Out Obama Toilet Paper- Jumbo rolls with 450 sheets on each roll. He wiped up the Presidential election and now you can use him to wipe up your historical messes! Love him? Hate him? Either way… you’ll love this Barack Obama Funny Toilet Paper. Printed throughout the whole roll! Want to have Obama in your bathroom… YES YOU CAN have him in THE CAN!… |
|
|
Anti Obama 2012 One Big Ass Mistake Political Car Window Wall Laptop Decal Sticker — White 8in X 9.2in $8.70 Anti Obama 2012 One Big Ass Mistake Political Car Window Wall Laptop Decal Sticker White 8in X 9.2in When making your color choice please be aware that our decals do not have a background or background color at all. These are decals not stickers. . When applied all you will see is the outline as shown in the images. If the decal will be going on glass you will want to use a bright color like white… |
|
|
6in X 6.9in Black — Anti Obama 2012 One Big Ass Mistake Political Car Window Wall Laptop Decal Sticker $6.35 Anti Obama 2012 One Big Ass Mistake Political Car Window Wall Laptop Decal Sticker — Black 6in X 6.9in When making your color choice please be aware that our decals do not have a background or background color at all. These are decals not stickers. . When applied all you will see is the outline as shown in the images. If the decal will be going on glass you will want to use a bright color like wh… |
|
|
Charlie Rose – Gaza/Al Hunt/Helen Suzman (January 5, 2009) $1.99 … |
|
|
AntiPoleez Frat pack – Alcohol and Bad Breath Eliminator (12 individual packs) 360 Drops. $12.99 AntiPoleez eliminates bad breath resulting from consumption of alcohol, tobacco and food. Unlike breath fresheners and gum AntiPoleez does not just mask the unwanted odor with heavy mint or fruit scent, it eliminates it and does not leave any other. The unique combination of components work to increase the consumption of odor producing molecules by the epithelium of the mucous coat of the upper re… |
|
|
OBAMA PRANK GAG TOILET PAPER (SET OF 3) $19.95 Did you know that before the daily newspaper was printed, corn cobs were the material of choice for wiping your butt? Ouch! Thank god we live in the modern age! Not only do we have soft and absorbent toilet paper, but now you can buy it with nicely decorated designs! This will make it even more pleasing for the 60% of you that look at the paper after you wipe! Each print appears throughout the who… |
|
|
Palacia Swiss Apple Stem Cell – cosmeceutical line $85.00 It dramatically reduces the appearance of wrinkles and fine lines within just 3 days, thus promoting a younger and healthier looking complexion, restoring your skin’s elasticity. This topical serum tightens and improves your skin’s firmness, evens out skin tone and texture, reduces rough patches, provides a healthy glow, and revitalizes dull, aging skin. Efficacy Test on Malus Domestica PhytoCell… |
