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Friday, December 05th, 2008

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Posts Tagged ‘ The Daily Reckoning ’

US and Japan Want to End EU Technology Tariffs

May 29th, 2008 | By Contrarian Profits | Category: Featured, Financial News

Japan and the US said they would use the World Trade Organization to overturn European Union tariffs on consumer technology items such as computer screens, multifunctional printers and TV set-top boxes capable of accessing the Internet.

“The EU should be working with the United States to promote new technologies, not finding protectionist gimmicks to apply new duties to these products,” US Trade Representative Susan Schwab said to Thomson Reuters.

Tags: euro, European Union, Eurozone, Japan, Jody Clark, Money Week, Protectionism, The Daily Reckoning, US dollar
Posted in Featured, Financial News | 2623Comments2008-05-29+19%3A51%3A17Contrarian+Profits

Housing Crisis: Case-Shiller Index Reveals 13% Price Drop

May 27th, 2008 | By Contrarian Profits | Category: Featured, Financial News

The US housing crisis looks sets to deepen after S&P’s/Case-Shiller Home Price index showed that home prices in 20 US cities fell almost 13% in February from a year earlier. This from AP:

“Month-to-month, it gets consistently worse,” said David Blitzer, chairman of the index committee at S&P, noting that February also marked the sixth straight month that all 20 cities experienced declines. “The slope is one direction. There is no sign of a bottom.”

Tags: Case-Shiller Index, Foreclosure, Global Recession, House Prices, housing crisis, Housing Slump, inflation, recession, The Daily Reckoning
Posted in Featured, Financial News | 2532Comments2008-05-27+19%3A37%3A52Contrarian+Profits

Up to 300 US Banks Could Fail Before 2010

May 26th, 2008 | By Contrarian Profits | Category: Featured, Financial News

As the subprime crisis bites, experts predict that as many as 300 US lenders will go out of business in the next two to three years. This from MarketWatch:

At least 150 banks will fail in the US during the next two to three years, according to a projection by Gerard Cassidy and his colleagues at RBC Capital Markets.

Tags: , Bank Failures, Ben Bernanke, credit crisis, Credit Crunch, fed, Federal Reserve, housing crisis, inflation, recession, The Daily Reckoning
Posted in Featured, Financial News | 2485Comments2008-05-26+17%3A49%3A29Contrarian+Profits

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