Bleak Housing Outlook...
Singapore Saves MERRILL...
Thar She Blows
The Last Hurrah for the Banking System
By Mike Whitney
So, while your bank still has money and can process your checks, it may be time to pay down debts, pay quarterly taxes and mortgage payments in advance, and think of having money outside of banks (gold, foreign currencies), etc., before your money is inaccessible or even evaporates! Continue
Dollar Falls Against Euro, Yen on Widening Bank-Loss Concern: The currency dropped a second day against the euro after Gary Stern, president of the Federal Reserve Bank of Minneapolis, was cited by the Financial Times as saying the U.S. credit crunch will worsen.
Speculators Trying to Buy Control of Food Supply: Hedge funds and other investors are buying up farms, farmland, fertilizer, grain elevators, shipping equipment and other necessities for producing food.
Tyson Falls as Profit Slumps 92% on Higher Grain-Feed Costs: Tyson Foods Inc., the second-largest U.S. chicken producer, fell the most in five weeks after fiscal third-quarter profit slumped 92 percent because of rising feed costs.
Corn, soybeans rise as dollar edges lower: Corn futures rose for a third day on Monday, as the dollar edged lower and as investors bought up futures on speculation that the commodity might have been oversold.
U.S. biofuel plants go bankrupt on feedstock costs: Soaring corn and soy prices on top of rising construction costs and tight credit markets have pushed about a dozen U.S. biofuel plants to file for bankruptcy protection, experts said.
US regulators seize two more banks: US regulators took over two banks on Friday and sold them to Mutual of Omaha Bank, the sixth and seventh bank failures this year as financial institutions struggle with a housing bust and credit crunch.
First National Bank of Arizona closes down: The notice on their web site says that the Office of the Comptroller of the Currency, a government agency, ordered the closure. The site also claims that there is no notice given to customers for a financial institution's closing.
List Of Bank Failures So Far: Forthcoming failures(?):
U.S. deficit to hit record US$490-billion next year: The U.S. budget deficit will widen to a record of about US$490-billion next year, an administration official said, leaving a deep budget hole for the next president.
Venezuela Will Sell Spain Oil At $100 A Barrel
US Banks Going Straight To Hell On $1.5T Losses
Eurozone May Beat Britain To Recession
UK House Prices Dive Again - Realtors Raise Fees
Bernanke/Paulson/Bair Banking Crisis Next Step
Bernanke Seeks Great Depression To Test Thesis
Mortgage Crisis - Sub-Prime Capital USA
US Natl Debt Limit Raised For Gigantic Bailout
Uninsured WaMu Depositors Asking For Trouble!
Putting The 'Federal' Back In Federal Reserve
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