Archive for December, 2008

Global Car Industry in Meltdown

Posted on December 22nd, 2008 in Manufacturing Crisis

The global car industry is in complete meltdown and the second largest durable good after houses is in a slump which is already surpassing the one it had in the 1974/74. In the US General Motors and Chrysler are essentially bankrupt with only a government loan of $14 billion allowing these companies to continue. A [...]

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Hedge Fund Scam Will Cause Further problems For the Market

Posted on December 15th, 2008 in Crooks

The $60bn hedge fund scam as well as being a massive waste of resources – enough to pay for a clean water supply for every poor person on the planet – will bring further problems for the financial markets. It was quite incredible that such a fund should be the home for investments for banks [...]

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  • @TheLeftBanker

    • RBS £2 billion loss not as BBC reports £776 million. Twice as big as forecast. 3 hours ago

    • @BharatKAzad I think so with Portugal 6 months behind and Spain another year 21 hours ago

    • Greece mark II: Portuguese opposition demands €30 billion more of a bailout to keep country afloat 21 hours ago

    • @aidanskinner hedge funds been putting this trade in droves spreading risk over several banks. They now hold about 30% of Greek debt 22 hours ago

    • Greek debt swap deal may fail as hedge funds & other investors would be better off with default and collecting insurance it would trigger 22 hours ago

    • Euro crisis goes global: Preliminary Chinese manufacturing figures for February shoes a contraction. 23 hours ago

    • Euro area manufacturing & services output drops in February. Recession on the way. 1 day ago