Golem XIV

Canada and Australia

Two, countries that are hovering on the sidelines of a property and bank crash are Australia and Canada. It is an under-reported fact that the Canadian banks already got $75 Billion (canadian dollars) bail out over a year ago. That $75 Billion was given to Canada’s commercial banks in exchange for mortgages. To be specific …

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Bank Cannibalism

What are the banks going to do next. Only a brave or foolhardy man would try to guess. I am not brave. The big banks are facing potentially crippling loses on Second Lien and Heloc loans as well as on Option ARM’s, each of which would be enough to bankrupt them. Taken together, not one …

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Time is money

The stock market has risen 3000 points on the DOW and 2000 on the FTSE. So why don’t I believe the experts when they say the recession is over and the recovery has started? One simple phrase will suffice – “Time is money”. When you’re making money time is on your side. The more time …

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Debt spiral

If the Greek government manages to sell it’s long awaited bond offering of 3-5 Billion Euros of 10 year debt there will be a sigh of relief. Crisis averted will be the cry. And of course it will be. For to have a no-bid would certainly force the crisis. Germany would be under intense pressure …

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