Saturday, December 29, 2007

As the beat goes on...

Dollar Falls Versus Euro for Sixth Day as New Home Sales Drop : The dollar dropped against the euro for a sixth day, the longest decline since October, after a U.S. government report showed sales of new homes fell to a 12-year low last month.

Defaults moving beyond sub-prime: Thought the mortgage meltdown was just a sub-prime affair? Think again. There's another time bomb waiting to explode, experts say: risky loans made to people with good credit.

Blame abounds for housing bust: This year's housing bust is shaping up to be one of historic proportions. Sales and construction have sunk to levels not seen since the 1990 savings and loan crisis, while foreclosures and price drops are the largest since the Great Depression — and expected to get worse next year.

Housing prices are headed way down: The cold, hard truth is that foreclosures are serving only to hasten the painful process of shifting housing prices back to a level the market can sustain. Prices must and will fall. Everywhere. Probably 25% to 30% from their peak.

U.S. Troops to Head to Pakistan: Beginning early next year, U.S. Special Forces are expected to vastly expand their presence in Pakistan, as part of an effort to train and support indigenous counter-insurgency forces and clandestine counterterrorism units, according to defense officials involved with the planning.

Wars Cost $15 Billion a Month, GOP Senator Says: The latest estimate of the growing costs of the wars in Iraq and Afghanistan and the worldwide battle against terrorism -- nearly $15 billion a month -- came last week from one of the Senate's leading proponents of a continued U.S. military presence in Iraq.

Ron Paul: 'We're getting ready to bomb Iran': Despite a recent National Intelligence Estimate finding that Iran has halted its nuclear weapons program, libertarian-leaning GOP presidential contender Rep. Ron Paul (R-TX) says there is still "a great possibility" of US military action against the country.

'Israel has megaton nuclear bombs' : A Washington-based military think tank has revealed that Israel has produced nuclear weapons with 'a yield of one megaton'.


No comments: