30 novembre 2008
Down on the farm, a frenzy over free food
source: DenverPost
Want one more palpable sign of a desperate economy? They expected between 5,000 and 10,000 people spread out over a couple of days. Instead, they found themselves on Saturday morning inundated with cars and people with sacks and wagons and barrels ready to harvest whatever was available. At one point, 30 acres of family farmland had become a parking lot. Their crowd estimate of 40,000 plus was based on the number of cars. Sheriff's officials said they "wouldn't be surprised" if that count was accurate.
The crisis that touches everyone
source: International Herald Tribune
I had gone to Chicago to learn about the effects of the credit crisis on a large, industrial, somewhat under-the-radar company called Navistar, the sole independent manufacturer of trucks and buses in the United States. Founded at the turn of the last century as a maker of agricultural equipment, it was known as International Harvester until the mid-1980s (truckers still call it "International"). The company has survived two World Wars, the Great Depression, a near-death experience in the early 1990s, and, most recently, an accounting problem severe enough to cause it to be delisted for almost a year and a half from the New York Stock Exchange. Because it is conservatively managed - no fancy financial engineering, no excessive debt, no risky loans to customers - Navistar is going to survive this crisis as well. But that doesn't mean it isn't feeling any pain, or that it doesn't see the effects of the crisis all around it
'Shadow ECB' calls for immediate and drastic rates cuts
source: The Telegraph
The mood was very grim," said Julian Callow, Europe economist at Barclays Capital, who voted for cut of 125 basis points.
"There is a feeling that the damage from the credit crunch is yet to come. We're hearing that companies have seen a collapse in orders over the last few weeks," he said.
Les Echos newspaper reports that electricity use by French industry fell by 7pc in October, suggesting that output is contracting sharply.
Recession: When the money goes, so does the toxic wife
source: Telegraph
Indeed, lawyers and financial advisers have reported a 50 per cent increase in
the number of divorce inquiries since the financial markets collapsed in
September.
For men, divorce is one of the most expensive trials in life – emotionally and
financially. As the joke doing the rounds among City men goes: "This
credit crunch is worse than a divorce. I've lost half my net worth and I
still have a wife."
But this is no joke. I've seen at first hand how, as soon as money disappears, so does love.
Ben pourtant j'avais lu justement que les anglais hésitaient à divorcer suite à la crise financière....
Profit from the buy-to-let chaos
source: Times
The payment profile of buy-to-let lending has worsened more rapidly than the
market as a whole. Reasons include falling rents and an over-supply of
rental property in some areas,” it said. Investors are seeking to profit
from distressed landlords by picking up properties at rock-bottom prices.
Here we look at some ways to get back into the market.
The British Opportunities Fund, launched at the start of the year by boutique
fund manager Managing Partners Limited (MPL), backed by HBOS, has paid
between £89,000 and £100,000 for each property. The same properties were
selling for between £180,000 and £205,000 two years ago.
EIG, the auction information service, is routinely recording discounts of 50% on new-build properties, and 25% on non-new build.
-50% non ?
La Russie s'escrime à protéger le rouble face aux assauts de la crise
source: AFP
Ses réserves de devises, troisièmes du monde derrière celles de la
Chine et du Japon et fierté du pays, ont fondu de près de 150 milliards
de dollars depuis leur pic du mois d'août. Elles s'élevaient la semaine
dernière à 450 milliards USD.
Selon lui, la réponse du gouvernement à cette situation, initialement
"confuse", s'est améliorée, adoptant une ligne selon laquelle "le
rouble va se dévaluer de manière modérée". "Si nous parvenons à éviter
une dépression mondiale, une dévaluation progressive et contrôlée est
très probable", juge-t-il.
e-Commerce : malgré la déflation, Internet reste un canal de référence pour Noël
source: NetEco
Les volumes sont en croissance, mais la déflation est très forte; jusqu'à 30% voir plus, sur certaines familles de produits comme les appareils photo numériques et les GPS », confirme Patrick Jacquemin, directeur général délégué du site rueducommerce.fr. D'après une étude TNS/Sofres pour eBay, 49% des sondés auraient, en effet, l'intention de réduire leur budget-cadeau.
La récession se propage, comme ses conséquences
source: Challenges
En France, le fabricant de semi-conducteurs STMicroelectronics s'attend désormais à une baisse de son chiffre d'affaires au quatrième trimestre par rapport au précédent. Dans le même secteur, les taïwanais TSMC et UMC, les deux principaux sous-traitants mondiaux de la fabrication de puces, prévoient de réduire leurs coûts de 20% et s'attendent à une forte baisse d'activité, a-t-on appris de sources du secteur.
Le Japon, deuxième économie mondiale, a annoncé une forte baisse de sa production industrielle en octobre (-3,1%) et un recul de 3,8% de la consommation des ménages par rapport à l'an dernier.
Face à la crise, la BCE s'apprête à baisser de nouveau ses taux
source: AFP
FRANCFORT (AFP) — Face à la récession en zone euro et un ralentissement
brutal de l'inflation, la Banque centrale européenne va une nouvelle
fois abaisser ses taux directeurs, et, gravité de la crise oblige,
peut-être même de façon plus agressive qu'à son habitude.
Les grands indicateurs économiques plongent à des vitesses record,
l'inflation chute et le chômage remonte en flèche dans la zone euro",
énumère-t-il.