Friday, November 30, 2007

More economic issues

A Diary Of The Onset Of The Greater Depression

By Carolyn Baker

It was becoming painfully and increasingly clear to me that history was repeating itself, and being an historian, I was well aware that it never does so in exactly the same manner but often with enough mirroring of earlier eras that it behooves human beings to sit up and pay attention. Continue

China's Attempt to Convert its U.S. Treasury holdings into euros

By M.CAM Inc

ealizing that they cannot liquidate their holdings, it appears that the Chinese are currently using their U.S. Treasury holdings as collateral for euro denominated purchases and long term infrastructure transactions. In other words, they may be "liquidating" their holdings as collateral and, in so doing, effectively migrating to non-dollar value without ever having to officially dump their current Treasury holdings. Contiinue

The U.S. dollar's farewell tour: At the beginning of 2003, one euro bought one U.S. dollar. Eighteen months ago, it bought $1.20. Now it is pushing $1.50, and there is no reason to think that it will stop there.

Home foreclosures soar 94 percent: RealtyTrac: Home foreclosure filings in October edged up 2 percent from September but at 224,451 were a whopping 94 percent higher than a year earlier, real estate data firm RealtyTrac said on Thursday.

US homes sales suffer record fall: Sales of previously owned homes in the US hit their lowest level since 1999 and single family homes suffered the biggest price drop on record in October.

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