Death of the hedge fund?

In the giant casino that is the world’s financial markets, hedge funds are some of the ballsiest gamblers, raising vast amounts of debt so that they can place bigger and more potentially lucrative bets. One might have thought theirs would be the first activity to be reined in when the credit crisis struck and Wall […]

Are our banks safe?

queueing at Northern Rock branches in a desperate bid to recover their savings sent shockwaves around a financial world already reeling from the sub-prime and credit crisis.The safety of money New Zealanders have in their bank accounts, and to lesser extent the wealth they have accumulated in their homes, are a couple of things they […]

Star of an R-Rate Snuff Film

Bryon King sends us this note: “While Ms. H. Rodham-Clinton and Mr. B. (No Middle Name) Obama battle out over who will be the Democratic Party nominee for U.S. president, there is another Great Smack-down occurring within American politics. “This other match – a true eye-gouging, ear-biting cage-match by any standards – may well determine […]

The Worst Conditions for the U.S. Economy Since the Great Depression

Mortimer Zuckerman, co-founder of Boston Properties Inc., the largest U.S. office real estate investment trust, said the U.S. economy is in a recession and there’s no sign of a recovery. “We are looking at the worst set of macroeconomic conditions since the Great Depression,” Zuckerman said in an interview with Bloomberg Television. Yesterday, the dollar […]

Bank warns of coming recession

The economy is being hit by a perfect storm that will probably blow it into recession, the Bank of New Zealand warns. Recession ‘may already be here’ “We are becoming increasingly convinced that the New Zealand economy is heading for recession,” BNZ economist Stephen Toplis says. “In fact, it may already be there.” The bank’s warning […]

Dollar under pressure as US outlook darkens

The dollar remains under pressure against all major currencies on fears that the Federal Reserve may need to slash interest rates further to stop the downward spiral in the credit markets. Comment: Bernanke’s slash and hope will put paid to any stability What makes Ben Bernanke tick? Read more by Ambrose Evans Pritchard     […]

Dollar Gives Up More Ground As Market Digests Bear News

cnnad_createAd(“654903″,””,”200″,”220″); The dollar gave up more ground Friday, undermined by cool inflation data and weakness on Wall Street as the market digests news of Bear Stearns Cos.’ bailout. Data showed U.S. consumer inflation moderated in February, opening the door for the Federal Reserve to keep cutting interest rates at its meeting next week to support […]

The Quigley formula: Conspiracy history

G.Edward Griffin is a speaker who is totally absorbing with his wonderful Quigley formula. He explains what a conspiracy is and how the people who perpetrate this get by on one of the elements that constitute a conspiracy. He has a great sense of humor and is the one who actually addresses the NEW WORLD […]

Carlyle Capital Nears Collapse as Rescue Talks Fail

March 13 (Bloomberg) — Carlyle Group said creditors plan to seize the assets of its mortgage-bond fund after it failed to meet more than $400 million of margin calls on mortgage- backed collateral that plunged in value. Carlyle Capital Corp., which began to buckle a week ago from the strain of shrinking home-loan assets, said […]

9/11 truth conference in Sidney, I will blog from there for the next 4 days.

With violence in Afghanistan at it’s worst and on the rise since the invasion of 2001 it pays to have a look at New Zealands ongoing involvement in this war, and the reasons that got NZ in the war in the first place. It should be a big issue this election but sofar it is not even […]

Bush family private equity fund in deep trouble as Financial Tsunami rolls on

Carlyle Capital Corp. Ltd., a subsidiary of one of the most influential USA private equity funds and closely tied to the Bush family, is in default on several of its securities. Carlyle is an offshore subsidiary of the Washington-based Carlyle Group, one of the most politically powerful private equity firms of the past two decades. […]

Property prices falling – latest figures

Anyone watching house prices shoot up over the past decade will hardly be able to believe the latest figures out from the Real Estate Institute. The last year has seen virtually nil movement in prices – unthinkable in the heady days prior to 2007. House prices actually fell 0.7 per cent last month from January, […]

Dollar Declines on Speculation Fed Rescue Package Won’t Succeed

March 12 (Bloomberg) — The dollar fell against the euro and the yen on speculation the Federal Reserve’s plan to provide funds to banks won’t be enough to break the gridlock in money- market lending and stem credit losses. “Read the need for such new measures as being a symptom of what ails the world […]

ING suspends NZ funds’ payouts because of turmoil

The New Zealand arm of Dutch financial group ING said on Wednesday it was suspending withdrawals from two investment funds worth $521 million because of the global credit market turmoil. It said the funds – the diversified yield and regular income – invested largely in credit securities, which had been hard hit by the subprime […]

Central banks make $250bn move to ease the credit crisis

Central banks make $250bn move to ease the credit crisisJoint action by US, UK, Europe and Canada; Dow Jones surges on news By Stephen Foley in New York Wednesday, 12 March 2008 Central banks around the world made a second co-ordinated attempt to ease the credit crisis, three months after their first efforts failed to […]

Australia accused of helping with notorious CIA rendition flights

Is Australia unwittingly helping the US Central Intelligence Agency with the notorious secret flights known as renditions?Australian politicians and defense officials are refusing to address claims that Royal Australian Air Force (RAAF) servicemembers are unwittingly involved in CIA flights that transport terror suspects from Afghanistan to face possible torture, Australia’s Seven News reports. Read more

So what is the Sub prime crisis, and why is it the result of speculation and fraud

In order to understand the Sub prime crises and the resulting collapse of the western monetary system it is important to understand that the Sub prime crisis is not the result of some bankers making a few erroneous judgement calls but that this is a crisis 20 years in the making. 20 years of developing […]

Many more going bankrupt

Bankruptcy filings have surged 22 percent in Massachusetts this year, as more people are unable to afford their rising mortgage payments or refinance their homes to pay bills, according to court filings and bankruptcy attorneys. Massachusetts filings in US Bankruptcy Court increased to 2,493 between Jan. 1 and March 5, from 2,039 during the same […]

Derivatives the new ‘ticking bomb’

ARROYO GRANDE, Calif. (MarketWatch) — “Charlie and I believe Berkshire should be a fortress of financial strength” wrote Warren Buffett. That was five years before the subprime-credit meltdown. “We try to be alert to any sort of mega-catastrophe risk, and that posture may make us unduly appreciative about the burgeoning quantities of long-term derivatives contracts […]

Inflation in China hits 11-year high

HONG KONG: Inflation surged further in China last month, with consumer prices up 8.7 percent from a year earlier, the fastest pace in more than 11 years, China’s National Bureau of Statistics announced Tuesday morning. Food prices were the biggest contributor, up 23.3 percent from a year earlier. Blizzards in China damaged harvests and interfered […]

Dollar Falls as Traders Bet Fed to Accelerate Rate Reductions

By Gavin Finch and Kosuke Goto March 10 (Bloomberg) — The dollar weakened against the euro and approached an eight-year low versus the yen as traders bet the Federal Reserve will lower interest rates by at least 75 basis points to avert a recession. The currency traded within a cent of a record low against […]

Oil roars to record over $108 on weak dollar

By Matthew Robinson NEW YORK (Reuters) – Oil shot to a record over $108 a barrel on Monday, extending a rally led by investors seeking a hedge against the tumbling dollar and inflation. U.S. crude settled up $2.75 at $107.90 a barrel, off a record $108.21 hit earlier in the session. London Brent crude jumped […]

Billionaire Investor Sees Bank Failures Ahead

Billionaire investor Wilbur Ross says the current market downturn differs from previous slumps in that no American banks have yet failed this time, but he suggests that’s about to change. “I think that’s going to be the next wave, and coupled with problems in the commercial real estate market; I think they’ll be the next […]

Countrywide Falls to 13-Yr Low on FBI Probe Reports

NEW YORK (Reuters) – Countrywide Financial Corp (CFC.N: Quote, Profile, Research) shares dropped 14 percent to a 13-year low on Monday following reports the largest U.S. mortgage lender was being investigated by the FBI for possible securities fraud. The decline in the stock came even as Bank of America Corp (BAC.N: Quote, Profile, Research), the […]

Carlyle Capital Could Lose Billions

LONDON – Private equity firm the Carlyle Group came under renewed pressure to come to the rescue of its beleaguered investment fund, Carlyle Capital, which warned on Monday that creditors could liquidate up to $16 billion of assets. A spokeswoman for the Carlyle Group told that it was considering “all options” to maximize the […]