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Prime mortgages get hit, dashing recovery prospects

posted by warrenbuffet 1384 days ago in USD, Special, Housing made popular 1383 days ago

More borrowers with good credit are defaulting on their home loans, and that's going to make it even harder for the staggering housing market to recover.

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U.K. July House Prices Drop as Loan Squeeze Locks Out Buyers

posted by warrenbuffet 1384 days ago in GBP, Fundamental, Housing

U.K. house prices fell in July as the squeeze on credit locked out buyers and brought the property market to a ``virtual standstill,'' the Royal Institution of Chartered Surveyors said.

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China Inflation Cools, Allowing More Growth Measures

posted by warrenbuffet 1384 days ago in JPY, Fundamental, Inflation

China's inflation cooled to the slowest pace in 10 months, giving the government more room to restrain the yuan's advance and bolster economic growth.

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Australian Dollar Extends Slide to 11th Day; NZD Drops

posted by warrenbuffet 1384 days ago in AUD, NZD, Inflation

Australia's dollar fell for an 11th day, the longest losing streak since 1975, after commodity prices slumped and as traders added to bets that the central bank will cut interest rates. New Zealand's dollar dropped.

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Gold, Platinum Lead Commodities Into Bear Market

posted by warrenbuffet 1384 days ago in Metals

Gold, platinum and silver plunged to their lowest in more than seven months, leading commodities into a bear market, on concern a spreading global economic slowdown will reduce demand for raw materials.

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The Eurozone - That Sinking Feeling?

posted by warrenbuffet 1395 days ago in EUR, Fundamental, GDP made popular 1395 days ago

One need not be well versed in the art of reading entrails or posses any other kind of unworldly powers to see that the Eurozone economy may be about to head off over the cliff. Now, just as the Q1 GDP figure was something of a technical glitch d

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The GDP Debate: Did A Recession Start in 2007?

posted by warrenbuffet 1395 days ago in USD, Fundamental, GDP made popular 1395 days ago

The government today released its annual revisions to GDP data for the past three years. And among the changes is this turnabout: The economy contracted slightly in the fourth quarter of 2007.

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European Inflation Quickened to 16-Year High in July

posted by warrenbuffet 1395 days ago in EUR, Fundamental, Inflation made popular 1395 days ago

Inflation in Europe accelerated to the fastest pace in more than 16 years in July, restricting the European Central Bank's room to bolster the economy even as unemployment starts to increase.

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U.K. House Prices Fell, Confidence Dropped in July

posted by warrenbuffet 1395 days ago in GBP, Fundamental, Housing made popular 1395 days ago

U.K. house prices declined the most in almost two decades in July and consumer confidence fell to a record low as the economy edged closer to a recession.

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U.S. Initial Jobless Claims Rise to Five-Year High

posted by warrenbuffet 1395 days ago in USD, Fundamental, Employment made popular 1395 days ago

The number of Americans filing first-time claims for unemployment benefits unexpectedly rose last week, reaching the highest level in more than five years.

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US economy gains traction in spring; shrank year end

posted by warrenbuffet 1395 days ago in USD, Fundamental, GDP made popular 1395 days ago

Economic growth picked up in the second quarter as tax rebates energized consumers. The rebound followed a treacherous patch where the economy jolted into reverse at the end of 2007.

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Paulson: Many foreclosures can't be helped

posted by warrenbuffet 1418 days ago in USD, Housing made popular 1417 days ago

Treasury secretary says many who bought homes they couldn't afford may lose them; praises industry group for helping some homeowners hang on.

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