Friday, 24 April 2009

Prudent Bear

Quotable

“We are looking at the worst set of macroeconomic conditions since the Great Depression.  I don’t know where the bottom is… The most dangerous part in my judgment is what is going on in the housing world, where we’re now running foreclosures at the rate of two million a year, where nine million homes, according to the government, just slightly under nine million homes, have either no equity in them or negative equity.  That will go up to 15 million if housing prices continue to go down this year as they’ve done last year.” 

Mort Zuckerman, co-founder of Boston Properties, quoted by Bloomberg, March 12, 2008


Commentary

Credit Bubble Bulletin

by Doug Noland | Apr 17

Capitalism's Greatest Vulnerability

Financial stocks have joined the industrials, retailers, homebuilders and technology stocks in an increasingly broad-based market rally.

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The Bear's Lair

by Martin Hutchinson | Apr 20

The Changing Recessionary Alphabet

The alphabet soup of possible shapes for this recession is now clarifying somewhat.

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Featured Commentary

by Gordon Ringoen | Mar 20

Bailouts are Wrong-Headed

The real problem is that the supply/ demand theory is just about totally wrong. This same theory that did not allow the experts to foresee the financial bubble developing is not going to show us the way out of our dilemma.

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Guest Commentary

by Satyajit Das | Apr 13

Credit Default Swaps: Problem Child of the Global Financial Crisis

Credit default swaps (CDS) are complex and powerful financial instruments that frequently have unforeseen consequences for market participants and the financial system.

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Posted by Britannia Radio at 19:39