shanghai bc 23:51 GMT December 23, 2007
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Season's greetings to all..
Doha 23:00 GMT December 23, 2007
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what is the eurusd trend in 2008 ?
austin mw 22:40 GMT December 23, 2007
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Overdue credit card debt surging
Sun, Dec 23 2007, 19:28 GMT
http://www.afxnews.com
SAN FRANCISCO (AP) - Americans are falling behind on their credit card payments at an alarming rate, sending delinquencies and defaults surging by double-digit percentages in the last year and prompting warnings of worse to come.
An Associated Press analysis of financial data from the country's largest card issuers also found that the greatest rise was among accounts more than 90 days in arrears.
Experts say these signs of the deterioration of finances of many households are partly a byproduct of the subprime mortgage crisis and could spell more trouble ahead for an already sputtering economy.
"Debt eventually leaks into other areas, whether it starts with the mortgage and goes to the credit card or vice versa," said Cliff Tan, a visiting scholar at Stanford University and an expert on credit risk. "We're starting to see leaks now."
The value of credit card accounts at least 30 days late jumped 26 percent to $17.3 billion in October from a year earlier at 17 large credit card trusts examined by the AP. That represented more than 4 percent of the total outstanding principal balances owed to the trusts on credit cards that were issued by banks such as Bank of America and Capital One and for retailers like Home Depot and Wal-Mart.
Florida Crom 21:37 GMT December 23, 2007
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Jkt Rick 18:15 GMT December 23, 2007
> isnt it interesting <
Its not interesting. its a Must. We drive cars - U can drive bikes.
We fight in Iraq, U eat our hamburgers and watch ur stupid tv shows with your greedy mullahs.
And remember : for each drop of american blood someone has to pay. It doesnt matter in what currency or valuables, but it has and will be a lot and till the end of times. Iraquis had oil all the time. What were their benefits from that? Killing each other? Now they are lucky that someone is teaching them how to use gifts they never deserved, and how to live desent lifes they never were able.
lkwd jj 21:28 GMT December 23, 2007
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very nice vahid. are those cee em cee charts?
Maribor 21:17 GMT December 23, 2007
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Jkt Rick 18:15 GMT December 23, 2007
Re cheap oil coming out Iraq: how do you explain cheap oil in USA in time before Iraq invasion?
I guess you know more than write unfounded people's comments.
USA BAY 20:57 GMT December 23, 2007
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Toronto Vahid Chaychi
Thanks for the report, liked it.
Syd 19:44 GMT December 23, 2007
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Toronto Vahid Chaychi good stuff
USA Skeptic 18:42 GMT December 23, 2007
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take your political crap to the politcial forum
Jkt Rick 18:30 GMT December 23, 2007
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in india the price of oil is heavily subsidized from $1.80 or there would be riots. its cheap in australia because of the strength of the carry trade dollar.
Jkt Rick 18:15 GMT December 23, 2007
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isnt it interesting that The US pays the lowest amount for petrol, only 70 cents a litre....while UK and europe its over $2.20 a liter, India and australia is around $1.30 a litre. people say its because the USA has cheaper refining costs but we know its all coming from iraq.
Jkt Rick 18:09 GMT December 23, 2007
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i meant HALIFAX.
Jkt Rick 18:08 GMT December 23, 2007
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Haifa
ANYONE other than bush IS GOOD FOR THE DOLLAR.
isr jweb 18:06 GMT December 23, 2007
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nice work toronto, very clear and simple (maybe you should name it - forex made simple) looks to be seen if it really works.. till then have good luck.
isr jweb 15:25 GMT December 23, 2007
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still waiting for the 1.45 tomorrow as sam promised
Halifax CB 15:19 GMT December 23, 2007
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Jkt Rick 10:32 GMT December 23, 2007
And you think the current list of most-likelies offers much chance of improvement? LOL...
Jkt Rick 10:32 GMT December 23, 2007
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theres good news for the dollar...its going to be 2008 soon, and only 11 months more before bush the censored leaves office.
Syd 05:09 GMT December 23, 2007
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If greed is good who foots the bill?
But the pleasure she will enjoy from the gift-giving will not last long. After bringing a little bit of joy with Jo Malone candles, White Company linens, Louis Vuitton purses and the Smythson diaries, the familiar envelopes and their nasty little return PO box numbers will arrive, always quicker than expected. Then she must make sense of those little computerised receipts crumpled in the corner of that lovely leather handbag.
And suddenly the depressing news items of global recession, falling house prices and a credit crunch, penetrate. Her whole life is a fraud. She is actually one of the 4.4m people in the UK still paying off last Christmas through her credit cards, and she has just done it all again.
She has no real money, only the ability to obtain credit at an enormous add-on cost.
http://www.theherald.co.uk/news/focus/display.var.1923266.0.If_greed
_is_good_who_foots_the_bill.php
Syd 04:54 GMT December 23, 2007
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Bank expected to cut rate four times next year
THE Bank of England is likely to slash interest rates four times next year in response to a sharp slowdown in growth, economists say.
The first cut could come as early as next month, analysts believe, following the monetary policy committee’s unanimous decision to cut Bank rate from 5.75% to 5.5% this month. Four cuts would take the rate to 4.5%, the level at which the Bank started to raise rates in August last year.
The prediction of four rate cuts next year comes in new reports from the Centre for Economics and Business Research (CEBR) and BNP Paribas. Both expect weak growth to outweigh the Bank’s worries about the inflationary impact of dearer food and energy.
http://business.timesonline.co.uk/tol/business/economics/
article3086883.ece
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