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Global Investing Roundups
DHL Withdraws From U.S.; China ‘Stimulates’ Railway and Steel Industries; YouTube to Show Full-Length Flicks; McDonald’s October Sales Solid; DB Analysts Says GM Stock Worthless; Fannie Mae to Tap Fed Fund; Starbucks Profit Down 97%; U.S. Cotton Production Declines by a Third
- U.S. job cuts and slashed stateside budgets have forced express mailer DHL Express, a subsidiary of Deutsche Post AG, from the U.S. Market, Reuters reported. With the move, Deutsche Post AG cut 9,500 jobs (on top of 5,400 from earlier this year). It was also an early Christmas present for rivals United Parcel Service Inc. (UPS) and FedEx Corp. (FDX), who’ve also taken…
How We Got Here: It was a Deliberate Policy
Source: The Gold Report
Adrian Day’s reputation for discovering big winners adds credibility to the global investing pioneer’s insights, which he is sharing with The Gold Report via excerpts from recent articles in Adrian Day’s Global Analyst. Discussing in Part 1 what led to the current crisis, he noted that the same folks who caused the problem by initiating unsustainable credit practices seem to have taken charge of trying to resolve it. Expanding on that point, he now calls attention to the government’s role in creating – or at least aggravating – the mortgage mess that precipitated the credit…
17Oct2008 | The Gold Report | Comments Off | ContinuedSuccessful Shorts in FNM and JPM
How Oxbury Could Have Made You Money From Simple Chart Studies
Generally speaking, the purpose of these Charts of the Week articles is to teach you to objectively review a given chart and make a sensible decision as to whether it’s going up or down … or whether more time must pass before you can make an informed decision.
Hopefully you’ve learned about the numerous indicators we’ve highlighted, and found our efforts to cover various market sectors helpful. We’ve consistently used examples from standard websites such as Stockcharts and Bigcharts so that you could apply your newfound knowledge to the stocks you…
11Sep2008 | Oxbury Research | 1 comment | ContinuedThe Fall of the Giants
Back on the job…
USA Today was in a blue mood on Friday. The stock market fell more than 300 points the day before, after its reporter realized that falling commodity prices were not necessarily such good news.
“Investors fear that crashing oil, coal and platinum prices signal something far more sinister: a sharp business slowdown abroad that could crimp the economy here and hamper US corporate profits.”
Retail sales are weak. On Friday, we reported that unemployment is at a five-year high…and foreclosures have hit a new record.
Of course, when you sell houses to people who can’t afford to pay for them,…
9Sep2008 | Daily Reckoning | Comments Off | ContinuedNew Report Says Feds Growing Increasingly Likely to Recapitalize Fannie and Freddie
By availing itself of a new housing bill signed into law last month, the U.S. Treasury Department is growing increasingly likely to recapitalize Fannie Mae (FNM) and Freddie Mac (FRE) in the months to come – all on the taxpayer’s dime, the weekly financial newspaper Barron’s reports in its edition yesterday (Monday).
Both shares took another beating yesterday, as Fannie Mae’s stock slid over 22% with a decline of $1.76 to close at $6.15. Freddie Mac, seen by many as the weaker of the two, fared even worse with a decline of over 24%, as shares shed $1.43 to close at…
19Aug2008 | Money Morning | Comments Off | ContinuedWith Fannie/Freddie Bailout Plan, Treasury Secretary Paulson is Armed and Dangerous
With the nation’s financial infrastructure crumbling before our very eyes, the country’s top two economic policymakers made their way to Congress last week for an extraordinary episode of political theater.
Fannie Mae (FNM) and Freddie Mac (FRE), the quasi-government entities that form the backbone of America’s gargantuan mortgage market, appeared to be cracking. To the somewhat bewildered members of Congress, U.S. Federal Reserve Chairman Ben S. Bernanke and Treasury Secretary Henry Paulson offered radical bailout remedies to save the lenders. Despite the fact that the proposed policies would thoroughly redefine America’s supposedly capitalistic pedigree, the moves were presented as wholly inevitable, and in the end, benevolent and…
25Jul2008 | Money Morning | Comments Off | ContinuedInside Wall Street: The Fannie Mae/Freddie Mac Bailout is Necessary – But Don’t Expect a Happy Ending
It’s the end of the “American Dream.” It’s the story of how the inevitable bailout of insolvent housing giants Fannie Mae (FNM) and Freddie Mac (FRE) – with the Federal Housing Administration soon to follow – will ultimately lead to such sorrowful sequels as “TheDeath of the Dollar,” “The Downgrading of U.S. Government Debt” and, yes, “The Depression.”
Let’s be very clear on one point, however: There’s no question about it – Freddie and Fannie have to be supported. If the doctrine of “too big to fail” didn’t already exist, it would have to be invented – immediately. Although many are arguing against…
15Jul2008 | Money Morning | Comments Off | ContinuedThe Dark Twins of Mortgage Finance
Think you’ve got trouble? Today is a public holiday in France. It marks the occasion when the mob rose up and broke into the Bastille, liberating a couple of half-wits and social deviants. It was only a small chimney fire in historical terms. But soon, the whole country was on fire.
The French should have realized right away that the Revolution would be more trouble than it was worth. A few years later, France was broke…at war…and her leading citizens were siding with the enemy. Not only that, hundreds of thousands were dying from small pox.
But that is the trouble with…
15Jul2008 | Daily Reckoning | Comments Off | ContinuedCandlesticks Predict Rise in Fannie Mae Shares; but Who Will Buy?
Fannie Mae is a “Government-Sponsored Enterprise,†but even so, it is a private corporation whose shares are widely owned, principally by financial institutions. In recent months, the value of those shares has plummeted from a high of $70.57 in August 2007 to a low of $6.68 on July 11, 2008. The final descent began on March 24 and accelerated rapidly in July as investor confidence unraveled. The progress of the fall was marked at the beginning and along the way by bearish Candlestick patterns which foretold declining prices to follow.
The patterns which have come to the fore over the past few…
13Jul2008 | William Kurtz | Comments Off | ContinuedHuge, Stupid, and Probably Fatal
Americans came back from their Independence Day holiday…and found their Empire of Debt in worse shape than ever – $1.6 trillion in potential losses from the credit crunch!
Freddie Mac (NYSE:FRE) and Fannie Mae (NYSE:FNM) are to America’s great empire what the East India Company was to the British Empire in the 19th century…and the Louisiana Company was to France in the 18th. Huge, stupid, and probably fatal.
Freddie and Fannie are huge government-chartered mortgage lenders. In 18th century France, speculators bet on the riches of Louisiana, through the government-chartered Louisiana Company. In the 19th century, they wagered their money on the riches of…
9Jul2008 | Daily Reckoning | Comments Off | Continued
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