crisis

Things have not calmed down yet and the Futures market is pointing to a very poor start to morning trading. We are looking at a minimum of 4% down right of the bat.If the Plunge Protection Team exists, now is your time to…

It is 8:15 AM ET and this is what I see in the markets today as we await the opening in New York:EuropeThe U.K FTSE 100 down 7.5%The German DAX down 9%The CAC-40 in Paris down over 8%AsiaJapan's Nikkei down nearly 10%The Hang Seng in Hong…

It's about 7:45 AM ET as I write this and the overseas stock markets are getting hammered. I can't say I don't fear what is going to happen today because I do. We are witnessing a meltdown of unimaginable proportions that is not just…

This does not bode well.Japan's Nikkei stock average slid more than 8% on Friday after U.S. stocks plummeted on fears about a global recession, while a firm yen added to the pain.In early trade, the benchmark Nikkei had shed 673.72 points…

No not the markets, the song. We need a bit of a break from this calamity of a global financial system. So here it is via Tom Petty & The Heartbreakers, one of my favorite groups. The title is apropos, and the music is a bit…

If you haven't noticed, credit is hard to come by these days. And the data are finally showing this state of affairs. The latest data from August show that consumer credit plunged by $7.9 billion, the most since record keeping…

Prime Minister Gordon Brown has finally pulled the trigger. In the most momentous move yet in the credit crisis, the UK government is effectively partially nationalising the UK banking system. For months, I have maintained that the…

As I do every week, I am updating you with links to important news in the credit crisis. These links are compiled in my credit crisis timeline, which is the most comprehensive list credit crisis links on the Internet.However, one big hole…

The markets are having a very bad day today. After we saw the Europeans were also vulnerable to this credit crisis, stock markets worldwide sold off, with many European markets seeing their largest drops since 1987. For Europe, today is…

The Guardian is reporting that Gordon Brown and his Labour Government are increasingly on the defensive as the number of governments in Europe guaranteeing deposits increases.The first problem for the Prime Minister was that Building…