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Credit Crisis Update: Rising LIBOR Hints at Bigger Problems to Come
More than a year ago, even before the subprime-mortgage crisis had revved itself up into the full-fledged credit crisis that’s now threatening global growth, we pointed to the London Interbank Offered Rate (LIBOR) and other interbank rates that suggested that the worst was yet to come.
The Money Morning team has continued to watch this important risk indicator, and has regularly reported our findings to you. Each time, we’ve preached caution, even though the pundits were telling the masses that the bailout plan was a panacea for what’s actually a financial mess whose fallout continues to spread.
So what is LIBOR telling us now?
Story…
7Oct2008 | Money Morning | Comments Off | ContinuedMoney Morning’s Top 10 Reasons Why We May Have Hit A Bottom, But Not The Bottom
Since the start of the year, the debate over the state of the U.S. economy seems to escalate by the day. The ongoing subprime mortgage mess, the resultant credit crunch and daily stories about housing defaults, escalating oil prices and lousy corporate earnings only seem to further fuel the debate.
Of course, we all see the government reports and analyst research notes that seem to contradict one another from one day to the next – and sometimes from one hour to the next.
So here at Money Morning, we thought we’d take a bit of a different approach, and use some of…
17Apr2008 | Money Morning | Comments Off | ContinuedJim Rogers: More Pain for the Greenback, and the Failure of the Federal Reserve
By Keith Fitz-Gerald
Money Morning
SINGAPORE – By bailing out Wall Street and applying “band-aids” to the economy, the U.S. Federal Reserve may well be causing its own downfall – even as it hastens the demise of the greenback as a viable global currency, investment guru Jim Rogers told Money Morning during an exclusive interview.
Because of such strategic missteps, U.S. consumers could be facing a long and painful economic malaise, similar to the “lost decade” of 1990s Japan, or the stagflation-riddled 1970s in the United States, Rogers said.
Make no mistake: If that happens, there are two clear culprits – current Fed Chairman…
8Apr2008 | Money Morning | 2 comments | Continued
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