Global economy

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Overview

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Currently (mid-2007), a collapsing bubble in the US real-estate market seems to be having severe international effects.

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Reference

  • Rank Order - Current account balance: a list of countries and their bank balances; as of 2008-03-11, the US was at the bottom (nearly negative $750 billion), with Spain a distant runner-up

Filed Links

version 2

  • 2009-02-25 [Talk|Index] Japan exports drop 46% in January § “Japan's exports plunged 45.7% in January compared with a year ago to hit the lowest figure in 10 years, official figures have shown.”
  • 2008-01-22 [Talk|Index] To Some, the Widening Crisis Seems Driven by Fear, Not Facts § [2]“Mr. Yardeni warned, however, that in a time of panic and fear, less attention is paid to fundamentals, like a fairly tight United States job market and strong growth and the extraordinary buildup of foreign exchange reserves in emerging markets. The result is panic selling and the prospect of a global recession. “People are creating the financial violence that they hoped to avoid,” he said.”
  • 2008-01-22 [Talk|Index] Fed Makes Emergency 0.75% Rate Cut § [2]“The Federal Reserve, responding to an international stock sell-off and the likelihood of a sharp drop in America on Tuesday morning, cut its benchmark interest rate by three-quarters of a percentage point. ... The Japanese stock market dropped 5.7 percent, for the worst two-day loss in 17 years, while the Australian stock market tumbled 7.1 percent, its worst single-day loss in nearly two decades. The Shanghai market lost 7.2 percent while the Hang Seng index in Hong Kong plummeted 8.7 percent. .. "At this stage, you can say there is panic selling in the market," said Kwong Man Bun, the chief operating officer of KGI Asia Ltd., a large Asian futures broker. "We don't think the Hang Seng index has found its bottom yet; the index will continue to go down and will only find its bottom when external markets – namely, the U.S. market – stabilize."”
  • 2008-01-22 [Talk|Index] Asian markets plunge for second day § [2]by Lindsay Whipp in Tokyo and Andrew Wood in Hong Kong: “Stocks plummeted across Asia for a second day on Tuesday on unrelenting fears that the US, Asia's most important trading partner, is heading into recession.”
  • 2008-01-21 [Talk|Index] World's Largest Bond Insurers Collapsing! § [2]by Martin D. Weiss Ph.D.: “Ambac and MBIA, the two largest bond insurers in the world, are careening toward collapse. .. Barring a miraculous rescue, their demise could promptly deliver a massive blow to the U.S. bond market ... severely damage America's already shaken big banks ... and largely trash the net worth of millions of investors.”
  • 2008-01-21 [Talk|Index] Stocks Plunge Worldwide on Fears of a U.S. Recession § [2]“Fears that the United States is in a recession reverberated around the world on Monday, sending stock markets from Frankfurt to Bombay into a tailspin and puncturing the hopes of many investors that Europe and Asia will be able to sidestep an American downturn.”
  • 2007-12-23 [Talk|Index] Crisis may make 1929 look a 'walk in the park' § “As central banks continue to splash their cash over the system, so far to little effect, Ambrose Evans-Pritchard argues things are rapidly spiralling out of their control”

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