June 2008

I have been following a story for a few months in the Canadian Press on Transat, a tour operator. I hadn't reported on it until now because they were just bailed out. It seems they have gotten tangled in the ABCP (Asset-Backed Commercial…

Transcript of the interview with CNBC India here. He's bearish on oil short-term. He's bearish on financials and sees bankruptcies in the offng soon. This is a view I share. Bearish on India as well. I'll be looking to update via the…

Mike Morgan is a Florida real estate professional with years of experience. He is often featured on Mike Shedlock's site with his commentary of Florida real estate as ground zero in the housing bubble. He writes about his basic premise…

The Washington Post has a story on regional and healthy banks that I highly recommend. Essentially, we are past the first wave of writedowns and are moving into phase two where it won't be about derivatives and RMBS's as much as underlying…

Handelsblatt is reporting that, for the first time in the company's history, revenues are down at Aldi, the formidable grocery chain that chased Wal-Mart out of Germany. That's pretty amazing.The company that made its founders, Karl and…

Oil prices aren't high because of greedy oil companies or backstabbing middle eastern countries. Oil prices are high because of easy money. That is the message of David Uren in today's Australian. I subscribe to his view but add in peak…

From Firstrung:UK house prices fall 1.2% in June as house price growth reaches near zero for past twelve months - Rightmove U.K. house prices have declined by their biggest amount so far this year as buyers shun the…

It's about time! I've been saying this day was sure to come and it couldn't arrive soon enough. After pouring over $300 billion of good money after bad, investors are perhaps saying enough is enough.The Wall Street Journal is reporting…

DateTime (ET)StatisticForActualBriefing ForecastMarket ExpectsPriorRevised FromJun 2410:00 AMConsumer ConfidenceJun-57.057.057.2-Jun 258:30 AMDurable OrdersMay-0.3%0.0%-0.5%-Jun 2510:00 AMNew Home SalesMay-520K510K526K-Jun 2510:30 AMCrude…

Rumors are that Citigroup is also going to have another big writedown.Citigroup Inc., in the latest sign of bloodletting on Wall Street, is set this week to embark on an aggressive round of layoffs within its investment-banking division,…