World News 01 01 08

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width="100%" BGCOLOR="#FFFFFF" TEXT="#080000"> <div> <FONT SIZE="2" COLOR="#000000" FACE="Arial" ><B>News and Music Free Radio Stations RadioZX</B></FONT>     |     <A HREF="index.htm" TARGET="_top" TITLE="News and Music Free Radio Stations Radio">home</A>                              back to  <A HREF="news.htm" TARGET="_top" TITLE="News">News</A></div> <DIV ALIGN="LEFT"></DIV> <div> <I><B>World News 01 01 08</B></I></div> <div> <B>CLOSE THE CENTRAL BANK</B></div> <div> <A HREF="index_the_house_of_cards_comes_tumbling_down.htm" TARGET="_top" TITLE="News and Music Free Radio Stations Radio"><B><IMG SRC="beaa8990.jpg" border=0 width="424" height="153" ALT="CLOSE THE CENTERAL BANK US Dallor showing thr US Flag" ALIGN="BOTTOM" HSPACE="0" VSPACE="0"></B></A></div> <div> <B>We're on the verge of a Bear Market of epic proportions</B></div> <div> <B>RadioZX Editor</B></div> <div> Mighty Quinn</div> <div> 01-01-2008</div> <div> This week, investors will be looking for signs that inflation is under control. If prices accelerate, the Federal Reserve may bump rates back up. The market is also hoping that readings on durable goods demand, the housing market and consumer spending power will show that the economy isn't heading for recession.</div> <bR> <div> <B><IMG SRC="bc344d00.png" border=0 width="324" height="464" ALT="Bear Market" ALIGN="LEFT" HSPACE="6" VSPACE="0">The credit bubble is just starting to unwind!</B></div> <div> We are headed for hard times as we end an optimistic era of too much liquidity, too much leverage and too much financial engineering slowly and inevitably deflates.</div> <bR> <div> Fear about the subprime-lending crisis propelled a run on one of England's banks last week.</div> <bR> <div> <B>When was the last time you saw a bank run?</B></div> <div> Unless you're old enough to remember the Great Depression, the answer is probably never. But a lot of worried savers in England got an up-close-and-personal look at a bank run last week.</div> <bR> <div> Fearing that the subprime-mortgage mess was about to swallow their savings, over three days depositors pulled $6 billion out of the bank. The run started to taper off only after the British government stepped in..</div> <bR> <div> <B>Could that happen in the U.S.?</B></div> <div> Let's analyze the red flags and assess the dangers.</div> <bR> <div> <B>Countrywide Financial,</B> may fall, if the truth comes out about, cooking the books (too much financial engineering), and the risky lending practices that have struck mortgage lenders such as <B>Accredited Home Lenders</B>, <B>Countrywide Financial</B>, and <B>Novastar Financial</B></div> <bR> <div> The U.S. practice of bundling together first and second mortgages to enable a purchaser to put zero down seem, well, conservative.</div> <bR> <div> Mortgages for 100% of a home's value -- let alone 125% mortgages -- stand a good chance of going bad when home prices start to fall. And that's exactly what has happened in both the United States and the United Kingdom.</div> <bR> <div> Countrywide isn't out of danger, even after <B>Bank of America</B> invested $2 billion in the company, but that deal does increase the odds that Countrywide will be able to tap other sources of capital if it continues to have problems securing financing in the commercial-paper market.</div> <bR> <div> The companies facing the biggest funding problems are those, like Novastar Financial, that don't have banks at all.</div> <bR> <div> Other possible trouble spots are companies such as <B>E*Trade Financial</B> that dabble in banking and mortgage lending but where neither activity is a core competency. E*Trade announced Sept. 17 that it would exit the wholesale-mortgage business.</div> <bR> <div> Besides economic data, Wall Street will be watching out for profit warnings from companies ahead of October's flood of third-quarter earnings.</div> <bR> <div> Investors are a bit nervous about how corporate America fared during August's stock market volatility and credit tightness, but they are optimistic at this point, particularly given that international growth (the buying & selling of Chinese Junk) is a big source of income for many companies.</div> <DIV ALIGN="LEFT"></DIV> <div> <IMG SRC="bf3d1d90.jpg" border=0 width="721" height="473" ALT="John Trumbull painting 0" ALIGN="BOTTOM" HSPACE="0" VSPACE="0"></div> <div> In <FONT SIZE="2" COLOR="#0000FF" FACE="Arial" >John Trumbull's</FONT> painting <FONT SIZE="2" COLOR="#0000FF" FACE="Arial" ><I>Declaration of Independence</I></FONT>, the <FONT SIZE="2" COLOR="#0000FF" FACE="Arial" >five-man drafting committee</FONT> is presenting its work to the Continental Congress. <B>Jefferson is the tall figure in the center</B> laying the Declaration on the desk.</div> <bR> <div> John Trumbull<FONT SIZE="2" COLOR="#000000" FACE="Arial" >'s (June 6, 1756 – November 10, 1843) famous painting is usually incorrectly identified as a depiction of the signing of the Declaration. What the painting actually depicts is the five-man drafting committee presenting their work to the Congress. Trumbull's painting can also be found on the back of the U.S. </FONT>$2 bill.</div> <bR> <div> Thomas Jefferson (April 13, 1743 – July 4, 1826) was the third <FONT SIZE="2" COLOR="#0000FF" FACE="Arial" >President of the United States</FONT> (1801–1809)</div> <bR> <div> THE PRINCIPAL AUTHOR OF THE DECLARATION OF INDEPENDENCE</div> <div> (1776), and one of the most influential <FONT SIZE="2" COLOR="#0000FF" FACE="Arial" >Founding Fathers</FONT> for his promotion of the ideals of <FONT SIZE="2" COLOR="#0000FF" FACE="Arial" >republicanism in the United States</FONT>.</div> <bR> <div> Major events during his presidency include the <FONT SIZE="2" COLOR="#0000FF" FACE="Arial" >Louisiana Purchase</FONT> (1803) and the <FONT SIZE="2" COLOR="#0000FF" FACE="Arial" >Lewis and Clark Expedition</FONT> (1804–1806).</div> <bR> <div> As a political philosopher, Jefferson was a man of the <FONT SIZE="2" COLOR="#0000FF" FACE="Arial" >Enlightenment</FONT> and knew many intellectual leaders in Britain and France. He idealized the independent <FONT SIZE="2" COLOR="#0000FF" FACE="Arial" >yeoman farmer</FONT> as exemplar of <FONT SIZE="2" COLOR="#0000FF" FACE="Arial" >republican</FONT> virtues, distrusted cities and financiers, and favored states' rights and a strictly limited federal government.</div> <bR> <div> Jefferson supported the <FONT SIZE="2" COLOR="#0000FF" FACE="Arial" >separation of church and state</FONT> and was the author of the <FONT SIZE="2" COLOR="#0000FF" FACE="Arial" >Virginia Statute for Religious Freedom</FONT> (1779, 1786). He was the <FONT SIZE="2" COLOR="#0000FF" FACE="Arial" >eponym</FONT> of <FONT SIZE="2" COLOR="#0000FF" FACE="Arial" >Jeffersonian democracy</FONT> and the co-founder and leader of the <FONT SIZE="2" COLOR="#0000FF" FACE="Arial" >Democratic-Republican Party</FONT>, which dominated <FONT SIZE="2" COLOR="#0000FF" FACE="Arial" >American politics</FONT> for a quarter-century.</div> <bR> <div> In 1780, he joined Benjamin Franklin's <FONT SIZE="2" COLOR="#0000FF" FACE="Arial" >American Philosophical Society</FONT>. He served as president of the society from 1797 to 1815.</div> <bR> <div> Jefferson served as the wartime <FONT SIZE="2" COLOR="#0000FF" FACE="Arial" >Governor of Virginia</FONT> (1779–1781), first <FONT SIZE="2" COLOR="#0000FF" FACE="Arial" >United States Secretary of State</FONT> (1789–1793) and second <FONT SIZE="2" COLOR="#0000FF" FACE="Arial" >Vice President</FONT> (1797–1801).</div> <bR> <div> A <FONT SIZE="2" COLOR="#0000FF" FACE="Arial" >polymath</FONT>, Jefferson achieved distinction as, among other things, a <FONT SIZE="2" COLOR="#0000FF" FACE="Arial" >horticulturist</FONT>, <FONT SIZE="2" COLOR="#0000FF" FACE="Arial" >statesman</FONT>, <FONT SIZE="2" COLOR="#0000FF" FACE="Arial" >architect</FONT>, <FONT SIZE="2" COLOR="#0000FF" FACE="Arial" >archaeologist</FONT>, <FONT SIZE="2" COLOR="#0000FF" FACE="Arial" >paleontologist</FONT>, <FONT SIZE="2" COLOR="#0000FF" FACE="Arial" >author</FONT>, <FONT SIZE="2" COLOR="#0000FF" FACE="Arial" >inventor</FONT> and founder of the <FONT SIZE="2" COLOR="#0000FF" FACE="Arial" >University of Virginia</FONT>.</div> <div> When President <FONT SIZE="2" COLOR="#0000FF" FACE="Arial" >John F. Kennedy</FONT> welcomed forty-nine <FONT SIZE="2" COLOR="#0000FF" FACE="Arial" >Nobel Prize</FONT> winners to the <FONT SIZE="2" COLOR="#0000FF" FACE="Arial" >White House</FONT> in 1962 he said, "I think this is the most extraordinary collection of talent and of human knowledge that has ever been gathered together at the White House – with the possible exception of when Thomas Jefferson dined alone."</div> <bR> <div> <B>P.S.</B> we predicted the Dot com Crash 8 months in advance.</div> <div> From the Editors of <FONT SIZE="2" COLOR="#CC0000" FACE="Amaze" >RadioZX</FONT></div> <div> We assume no liability for composition errors</div> </td> </tr></table></body>