Global Economic Collapse

    Ich weiß gar nicht was ihr immer habt mit der US-Immoblase. Hier bei uns kosten Altbauten im günstigsten Fall so 400 Euro pro qm in schlechteren Lagen. In Omaha in günstiger Lage gibt es sie umgerechnet in vergleichbarem Zustand (Altbau 1920, Ziegel) für Euro 250 je qm. Wo soll da die Blase sein jedenfalls im Vergleich zu Deutschland?


    Viel lieber sollte man auf den Yen schauen. 160.40 und es kann sehr schnell noch viel tiefer gehen. Die Trader handeln jetzt so wie kleine Kinder denen die Grenzen aufgezeigt werden müssen, kommt keine Intervention geht es fröhlich weiter mit dem Yen Sturz. Japan selbst kann nicht intervenieren, da nur Dollarreserven. Europa könnte will aber aus irgend einem Grund nicht.


    Gruß
    S.

    National City, SunTrust May Say Net Fell on Mortgages (Update1)


    By Will Edwards


    April 11 (Bloomberg) -- National City Corp., Capital One Financial Corp. and SunTrust Banks Inc. may report lower first- quarter profits as the worst housing slump in more than a decade reduces income from mortgages.


    Earnings per share for the 10 largest regional U.S. banks fell an average 1.1 percent in the first three months from a year earlier, according to analysts' estimates compiled by Bloomberg. The last decline occurred in the fourth quarter of 2004.


    The end of the five-year boom in home sales reduced demand for mortgages and the fees banks earn. Delinquencies are spreading from homeowners with subprime mortgages to those with better repayment records. M&T Bank Corp., partly owned by Warren Buffett's Berkshire Hathaway Inc., said March 30 that defaults by people with higher credit ratings hurt first-quarter profits.


    ``We could see other similar earnings shortfalls,'' said Mark Batty, an analyst at Philadelphia-based PNC Wealth Management, which oversees $50 billion and owns shares of Wells Fargo & Co. and Wachovia Corp. Wells and SunTrust reduced mortgages requiring little money down or proof of income, he said. ``We'll see whether they moved fast enough.''


    Wells Fargo, based in San Francisco, is the only regional bank with more than 10 percent of its loans to subprime borrowers, according to a March 26 report from Banc of America Securities analysts. National City's are at 8 percent and Charlotte, North Carolina-based Wachovia's are 6 percent, the report said. None of the other top 10 regional banks has more than 5 percent of its total loans with subprime borrowers.


    Bank Stocks


    Bank stocks have fallen this year as mortgage defaults increased. The Standard & Poor's 500 Index of regional banks fell 2.2 percent in the first quarter, led by Huntington Bancshares Inc.'s 8 percent drop.


    Net income at Wachovia and Regions Financial Corp. probably rose after gains from acquisitions. Wachovia's stock declined 3.3 percent in the first quarter and shares of Regions Financial fell 5.4 percent. Wachovia reports on April 16, SunTrust and Regions Financial on April 17, Capital One Financial Corp. on April 19 and National City on April 30.


    Bank profits were pinched last year because the Federal Reserve's 17 rate increases made lenders pay more for deposits while loans were earning less interest. Wells Fargo was the only one of the top 10 regional banks to boost its net interest margin.


    A rate reduction by the Federal Reserve might offset some of the plunge in subprime asset values. Regions Financial of Birmingham, Alabama, completed the sale of its EquiFirst subprime unit to Barclays Plc April 2 for $76 million, a third of the price the London-based bank agreed to pay when the sale was announced in January.


    Rate Cut's Impact


    ``From a sentiment standpoint, a Fed rate cut could be huge,'' said Chris Hagedorn, who helps manage about $22 billion at Fifth Third Asset Management in Cincinnati, including Wachovia and Wells Fargo shares.


    Sales of bonds backed by subprime loans are declining this year, with $79.3 billion issued, down 37 percent from the same period in 2006, according to a March 30 report by New York-based Citigroup Inc. For banks, that means less revenue from selling mortgages to firms like Bear Stearns Cos. that package the loans into securities.


    Some banks are holding on to loans instead of selling at depressed prices, betting mortgages will rebound. That's what National City decided last month when it scrapped plans to sell $1.6 billion of home loans including subprime mortgages. The move will cost the Cleveland-based bank at least $11 million in writedowns to reflect current market values, it said March 14.


    M&T's Outlook


    ``Nobody wants these loans right now,'' said Steven Picarillo, an analyst at Dominion Bond Rating Service in New York. ``Why take a 30 percent haircut on these loans just because they have the word `subprime' on them?''


    Fed Chairman Ben Bernanke and Bear Stearns, the biggest underwriter of mortgage bonds, said they don't see subprime woes spilling over into safer loans, such as Alt-A mortgages. Those are granted to people with good credit histories who don't meet some guidelines for conventional loans.


    Shares of M&T fell 8.5 percent on April 2 after the Buffalo, New York-based company cut its earnings forecast by $7 million because of Alt-A loans. Like National City, it plans to hold $883 million of mortgages instead of selling at current prices.


    Capital One, based in McLean, Virginia, holds about $10 billion of Alt-A loans and Atlanta-based SunTrust has $2.5 billion to $3 billion, A.G. Edwards analyst David George wrote in a research note after the M&T announcement.


    ``M&T shook things up because it's a very well-run, plain- vanilla bank,'' said Jefferson Harralson, a Keefe Bruyette & Woods Inc. analyst in Atlanta. ``It could mean we're going to see it at other banks.''


    To contact the reporter on this story: Will Edwards in Charlotte, North Carolina, at wiedwards@bloomberg.net


    http://www.bloomberg.com/apps/…d=a4VFaOuDnuWw&refer=news

    The Federal Reserve Monopoly over Money


    Infowars.com | April 9, 2007
    Ron Paul


    Recently I had the opportunity to question Federal Reserve Chairman Ben Bernanke when he appeared before the congressional Joint Economic committee. The topic that morning was the state of the American economy, and many of my colleagues raised questions about how the Fed might better "regulate" things to ease fears of an economic downturn. The tenor of my colleagues' questions suggested that Mr. Bernanke's job is nothing less than to run the U.S. economy, like some kind of Soviet central planner.


    Certainly it's true that Mr. Bernanke can drastically affect the economy at the drop of a hat, simply by making decisions about the money supply and interest rates. But why do members of Congress assume this is good? Why do we accept without objection that a small group of people on the Federal Reserve Board wields so much power over our economic well-being? Is centralized, monopoly control over our money even compatible with a supposedly free-market economy?


    Few Americans give much thought to the Federal Reserve System or monetary policy in general. But even as they strive to earn a living, and hopefully save or invest for the future, Congress and the Federal Reserve Bank are working insidiously against them. Day by day, every dollar you have is being devalued.


    The greatest threat facing America today is not terrorism, or foreign economic competition, or illegal immigration. The greatest threat facing America today is the disastrous fiscal policies of our own government, marked by shameless deficit spending and Federal Reserve currency devaluation. It is this one-two punch-- Congress spending more than it can tax or borrow, and the Fed printing money to make up the difference-- that threatens to impoverish us by further destroying the value of our dollars.


    The Fed's inflationary policies hurt older people the most. Older people generally rely on fixed incomes from pensions and Social Security, along with their savings. Inflation destroys the buying power of their fixed incomes, while low interest rates reduce any income from savings. So while Fed policies encourage younger people to overborrow because interest rates are so low, they also punish thrifty older people who saved for retirement.


    The financial press sometimes criticizes Federal Reserve policy, but the validity of the fiat system itself is never challenged. Both political parties want the Fed to print more money, either to support social spending or military adventurism. Politicians want the printing presses to run faster and create more credit, so that the economy will be healed like magic- or so they believe.


    Fiat dollars allow us to live beyond our means, but only for so long. History shows that when the destruction of monetary value becomes rampant, nearly everyone suffers and the economic and political structure becomes unstable. Spendthrift politicians may love a system that generates more and more money for their special interest projects, but the rest of us have good reason to be concerned about our monetary system and the future value of our dollars.


    http://www.infowars.com/articl…e_monopoly_over_money.htm

    KATASTROPHENSCHUTZ-STUDIE


    In Privathaushalten fehlen Notvorräte


    Auf Krisensituationen sind viele Haushalte in Deutschland nicht vorbereitet, warnen Forscher aus Münster. Sie empfehlen Lebensmittelvorräte für zwei Wochen, Campingkocher und Radios mit Batterien. Katastrophenschützer plädieren gar für Notrucksäcke mit luftdicht verpacktem Essen für zwei Tage.


    [URL=http://www.spiegel.de/wissenschaft/mensch/0,1518,476624,00.html]http://www.spiegel.de/wissensc…sch/0,1518,476624,00.html[/URL]


    Broschüre:
    [URL=http://www.bbk.bund.de/cln_027/nn_398720/SharedDocs/Publikationen/Brosch_C3_BCren__und__Faltbl_C3_A4tter_20Download/Broschuere_20Notfall,templateId=raw,property=publicationFile.pdf/Broschuere%20Notfall.pdf]http://www.bbk.bund.de/cln_027…/Broschuere%20Notfall.pdf[/URL]

    US move to file trade cases against China 'not wise'


    The Bush administration announced new trade cases against China on Monday over copyright piracy and restrictions on the sale of American movies, music and books, and in Beijing China expressed on Tuesday great regret and strong dissatisfaction at the decision.


    "China expressed great regret and strong dissatisfaction at the decision of the United States to file WTO cases against China over intellectual property rights and access to the Chinese publication market," a spokesman for the Commerce Ministry said in Beijing Tuesday.


    Wang Xinpei, the spokesman, said the US move runs against the consensus reached by leaders of the two countries on developing bilateral trade relations and appropriately handling trade problems...


    http://www.chinadaily.com.cn/c…-04/10/content_847045.htm

    Subprime Losers Blame Bear, Credit Suisse, JPM, Morgan Stanley


    When Buck Meyer thinks about the $300,000 he lost after he bought a subprime mortgage lender's bonds, he doesn't hesitate to denounce financial titans Bear Stearns Cos., Credit Suisse Group, JPMorgan Chase & Co. and Morgan Stanley.


    Like the thousands of people who snapped up American Business Financial Services Inc.'s notes yielding 10 times the going rate on Treasury bills, Meyer had no idea that the company was on the verge of bankruptcy. He wondered how something so celebrated as ``a kitchen-table startup'' by the Philadelphia Business Journal and so lucrative that it paid $50 million in fees to the four firms for its burgeoning credit, could default on his money...


    http://www.bloomberg.com/apps/…d=avI34G5JBAjQ&refer=news

    Zitat

    Original von GOLD_Baron
    He wondered how something so celebrated ... could default on his money...


    Da fällt mir nur wieder der gute alte Spruch ein: there is no such thing as a free lunch.


    Oder auf deutsch: Wenn etwas zu schön klingt um wahr zu sein, dann ist es das wahrscheinlich auch nicht.


    Aber die Hoffnung stirbt zuletzt und es lassen sich wohl immer Narren finden, die selbst auf dei unglaublichsten Versprechungen reinfallen. So wie die des Fiat-Moneys in Verbindung mit ewig fortdauerndem Wirtschafts- und Wohlstandswachstum. :rolleyes:

    8) :D


    Für was denn Notvorräte? Ist doch alle in Butter! :P :D ?( :O

    News from the
    United States Government
    Accountability Office


    The federal government faces large and growing structural deficits
    in the future due primarily to known demographic trends and rising
    health care costs.
    These structural deficits—which are virtually certain given the design of
    our current programs and policies—will mean escalating and ultimately
    unsustainable federal deficits and debt levels. Based on various
    measures—and using reasonable assumptions—the federal government’s
    current fiscal policy is unsustainable.
    Continuing on this imprudent and unsustainable path will gradually
    erode, if not suddenly damage, our economy, our standard of living,
    and ultimately our domestic tranquility and national security.
    :rolleyes:


    PDF Dokument


    Quelle:
    http://www.gao.gov/fiscalstewardship.html

    Zitat

    Original von Blaubronco
    @ Goldbaron


    ein guter Anfang, man kann sich auch den ganzen Tag versauen.


    Toller Schrottbeitrag mal wieder, Blaubronco.


    Wenn du weiter so machst feiert Dich das GS-Forum. Qualität zählt hier nämlich real nicht.


    =======================================


    Vlg. zu Gold Baron: http://goldseitenforum.de/thread.php?threadid=5646
    MbG DMR

    Zitat

    Original von Joschka
    Der Dollar schwächelt ein bisschen? ...


    Au Mann, Leute! Hat denn keiner von euch auf den Kalender geschaut?


    Heute ist Freitag, der 13. Die Leute sind einfach nur abergläubisch. Montag wird alles wieder schön. ;):D


    Puh, endlich Wochenende...

    Was wohl daran liegt, dass statistisch gesehen der 13. am öftesten ein Freitag ist, aber mehr auch nicht ;) Wenn also der Pfarrer etwas von einem angeblichen Unglückstag redet, dann sollte man ihn gleich mit einer Steinschleuder von der Kanzel schießen...

    "Ess und trink so lang Dir´s schmeckt scho 2mal ist uns´s Geld verreckt!"; "Steuerbetrug ist der strafbare Versuch des Steuerpflichtigen den legalisierten Diebstahl durch die Herrschenden zu verhindern." "Goldpreis = Gold/Vertrauen in die Geldwertstabilität."

Schriftgröße:  A A A A A