SubscribeAll Posts Tagged With: "economic slowdown"
Global Investing Roundups
Retirement Plans Lose $2 Trillion; eBay Sells Out Workforce; Eli Settles Marketing Dispute; Morgan Stanley Gets OK on Capital Infusion; IMF Says Rough Economic Times Ahead; Wachovia Split?
- American retirement plans have lost as much as $2 trillion, or 20% of their value, in the past 15 months, Peter Orszag, head of the Congressional Budget Office estimated yesterday (Tuesday). "Some people will delay their retirement. In particular, those on the verge of retirement may decide they can no longer afford to retire and will continue working," Orszag said.
- EBay Inc. (EBAY) said yesterday (Tuesday) that it will cut 10% of its work force…
The Absent-Minded Credit Cycle
The next big trend, dear reader…
It’s coming. Consumers – especially the baby boomers – are about to change their way of looking at things. And when Bernanke & Co. realize what is happening, they will greet the new trend like the citizens of Atlanta welcomed Sherman.
“War is hell,” said the yankee general, before burning the city down. So is a correction.
Yesterday’s news brought more details. The Dow rose 40 points. Oil remained where it was. Gold lost $3. And the dollar seems to be strengthening a little against the euro. You can now buy a euro for only $1.56.
“Retail sales…
11Aug2008 | Daily Reckoning | Comments Off | ContinuedVERY MODEST GOOD NEWS
I can see some – albeit very modest – improvement for the US stock market. For one, it appears that the slowdown and problems in other economies, such as the UK (a disaster waiting to happen), Italy, Spain, and Ireland, are even greater than in the US. Also, since numerous emerging stock markets have underperformed the US this year, some money is likely to be repatriated from countries such as India and China, where stock markets are down approximately 40% year-to-date. We should also consider that, as Joachim Fels noted, “Fifty of the 190 or so countries in the world…
7Aug2008 | Daily Reckoning | Comments Off | Continued
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