Category Archives: Economy

The chart says it all, really. (Click on it to see it full size.) Of note: The US dollar has now lost more than a third of its value (-35%) against a basket of major currencies since Feb 2002 The … Continue reading →

Bank of England Governor Mervyn King told the Financial Times yesterday that the world’s central bankers are now holding conference calls every day to discuss the credit collapse. Its clear now that they have lost all semblance of control over … Continue reading →

… according to the BBC. The Independent says that the markets are worried that undeclared bank losses will reach $1 trillion. Alistair Darling told the Independent that “We are experiencing an unparalleled period of financial uncertainty caused by the problems … Continue reading →

According to The Age, Leo de Bever “has warned mum-and-dad investors to prepare for a massive sharemarket crash.” I say again, no shit Sherlock? The crash has already happened. The only thing keeping the stockmarket alive is the continued pumping … Continue reading →

  During May and June of 2005, the Standard & Poor rating agency downgraded General Motors’ and Ford’s credit rating, on the more than $450 billion of the two companies’ debt, to junk-bond status. This set off an implosion of … Continue reading →