Tuesday, 9 September 2008

Alice's bubble wrap

I haven't done one of these for about a week. The big story of the day is Lehman; will it survive until the weekend?

S&P: Lehman on CreditWatch with Negative Implications

"The CreditWatch listing stems from heightened uncertainty about Lehman's ability to raise additional capital, based on the precipitous decline in its share price in recent days," said Standard & Poor's credit analyst Scott Sprinzen. "Although the ratings ultimately could be affirmed, we do not currently rule out the possibility of lowering the ratings by more than one notch."

Lehman Goes Boom

The big picture posting a terrible picture - the Lehman share price.

The US Gets Riskier

The Financial Ninja on Lehman, Freddie and Fannie. "Bailouts are not for free" - indeed.

Q&A: Fannie Mae and Freddie Mac

This is how Aljazeera sees it.

Mean Street: Truth? You Can’t Handle the Fannie/Freddie Truth

No, I don't think I can handle the truth. It is all too frightening. I really wish someone would make it all go away.

Debt Deflation Turning Economic Democracy Into a Financial Oligarchy

"This seems to be the most sweeping government intervention into the financial markets in American history. If these two companies are nationalized, it will add $5.3 trillion dollars to the nation's balance sheet. So my first question is, why is the Treasury bailing out bondholders and other investors in their mortgage IOUs? What is the public interest in all this?"

Big Savings Available on Exclusive Spanish Homes in Mallorca

"The new El Puerto II development in sunny Mallorca can make the dream of owning a Spanish property a reality. Property savings of over £45,000 are available. "

Victor Sagué, Sales and Marketing Director said: "Despite the recent problems in the Spanish property market this area continuously attracts property buyers with its luxury facilities and superb location. Those thinking about buying abroad should definitely take advantage of this offer as soon as possible, as demand for these properties has caused a limited availability."

Go on; admit it, you love this stuff.

Oil price falls below $100 a barrel

It is back to where it was in January this year. I suppose this resolves the speculation versus supply contraints debate.

A falling pound means that the only way is up

You can always predict what Kaletsky of the Times is going to write. Everything is good until something bad happens. When it does, we are always over the worst. Falling pound; it is good. Freddie and Fannie are nationalized, even better.


Anonymous said...

kaletsky is a muppet

dearieme said...

I've just been watching Peter Schiff predicting in 2006 just what's happening now. He links to the youtubes here:-

JD said...

Right up until the Spanish property market fell over Spanish banks were claiming that property was over valued by 52 per cent. Knocking 45k off a property in Mallorca doesn't seem to be a bargain in my eyes, just another property not quite as much overvalued as most. No matter what mealymouthed words are uttered by those trying to wax lyrical over the situation with the Spanish property market the simple fact of the matter is that for ten years foreigners and Spaniards alike lost huge amounts of money to bent estate agents, crooked, incompetent lawyers and developers and constructors who could lie with the best of them. Today a situation has arrived where people now at long last are voting with their feet and walking away from the risks associated with buying Spanish. Until such time as we see government intervention making the purchase of property absolutely safe I suspect foreigners will continue to embargo the market as they should.

Anonymous said...

Hey JD that's what I call a comment. You're right about the Spanish property market - it's like the country - corrupt. Crap legal system, crap political system I can't see why Europe allowed them into the EU.

Anonymous said...

The Mean Street: Truth link doesn't work for me...