01 janvier 2009
Mes Meilleurs Voeux pour cette année 2009 !
Markets Limp Into 2009 After a Bruising Year
source: The New-York Times
There was almost no place to hide from the crash of 2008.
Commodity Boom Turns Bust in 2008 as Worldwide Economy Crumbles
source: Bloomberg
“Macroeconomically, we’re in a free fall,” said John Brynjolfsson, the managing director and chief investment officer at hedge fund Armored Wolf LLC in Aliso Viejo, California. “That’s a complete destruction in industrial production and demand, and this is likely to keep pressure on the commodity sector in general.”
Dubai Bonds Signal Economic “Depression,” ING Says (Update1)
source: Bloomberg
Dec. 31 (Bloomberg) -- Dubai’s corporate bonds have fallen
to a level where they are pricing in an economic “depression,”
according to ING Investment Management’s head of fixed income.
The yield on the three-year Islamic
bond issued by Nakheel Development Ltd., which is building three
palm-shaped islands in the Persian Gulf, soared to 32 percent,
from 5 percent in January.
How to prevent the Great Depression of 2009
source: Financial Times (Economist Forum)
For much of the post-war period, the US Federal Reserve has been
relatively successful at combating recessions by lowering the interest
rate to stimulate aggregate demand. The policy was unavailable in the
1930s because the interest rate on treasury securities was already near
zero, just as it is today. It is this fact that makes the current
crisis more like the Great Depression than any other of the post-war
recession
A logical extension of this idea is to pick an indexed basket of
securities: one candidate in the US might be the S&P 500, and to
control its price by buying and selling blocks of shares on the open
market.
et pourquoi pas les maisons ????
It's Time To Pay The Bills
source: The Washington Post
The Great Depression seared some life lessons into my parents'
generation. My father hasn't had a mortgage in decades, even though his
children keep telling him about the tax advantages. He buys store-label
brands, clips the "sale" coupons out of the newspaper and wears
well-mended suits he bought 50 years ago.
That's what I hope Obama will teach our kids in this new year: talking not of rescue, but of shared sacrifice; reminding us that bills come due and have to be paid; ending the bizarre period of national denial that is Bailout America.
New year nightmare brings spectre of 1930s-style depression to eurozone
source: The Guardian
If the eurozone and the rest of Europe ended 2008 on a fearful note,
2009 is shaping up to confirm the worst nightmares of the EU-27's 500
million citizens. The spectre of a 1930s-style depression is foremost
in many people's minds. Analysts are forecasting an economic
contraction of as much as 3% despite the likelihood of the European
Central Bank (ECB) cutting interest rates close to zero during the year.
When you have such an economic depression, such social despair, all it
takes is a match," said Laurent Fabius, former socialist premier of
France.
Slump is worst since 1930s - veteran estate agent
source: Walesonline
THE current economic slump will be worse than the Great Depression of the 1930s, a South Wales estate agent has warned.
I’ve been saying for a long time that the bubble had to burst.
People were taking out mortgages more than 10 times their annual salary
– which they just couldn’t afford.
“In the 1930s people mainly rented property anyway, which was more affordable than it is today, so there wasn’t this risk of lots of people losing their homes and having negative equity. The banks have been deviant. They have been very greedy.”
440 retailers to go bust in first four months of the year, analysts predict
source: Telegraph
"It has been the most challenging time for retailers for at least 30 years, trading conditions are very tough and the collapses we've seen so far are just the tip of the iceberg. At the moment there is too much space in the market and not enough demand. Many retailers are either making no margin or losing money. We anticipate that January will be the toughest for 30 years."
Almost 3,000 home owners falling into negative equity every day
source: Telegraph
More than half a million households start the year living in a home worth less than the loan they took out to pay for it.
This number could surpass the 1.7m total reached in the early 1990s by the end of this year.
Mr Boulger said that although most mortgage companies had the right to force their customers to repay their loans in circumstances of dire emergency - a so-called "armageddon clause" - he added that they were unlikely to trigger it because a household has slipped into negative equity.