Filed under: Alan Greenspan, central bank, China, Credit Crisis, DEBT, ECB, Economic Collapse, economic depression, Economy, european central bank, Federal Reserve, gas prices, gas tax, global economy, gold, Goldman Sachs, Great Depression, Greenback, housing market, Inflation, interest rate cut, interest rate cuts, job market, john paulson, Northern Rock, Oil, Petrol, rate cut, Stock Market, subprime, subprime lending, unemployment, US Economy, US Treasury, Wall Street, Yen
Greenspan joins firm that made billions betting against the housing market
Reuters
January 15, 2008
Hedge fund manager John Paulson, who earned billions of dollars last year by betting against the housing market, said on Tuesday that former Federal Reserve board chairman Alan Greenspan will advise his firm.
Greenspan, whose words can still move financial markets, will advise Paulson on the global economy for an undisclosed amount of money, the hedge fund said in a statement.
By joining the New York-based fund, Greenspan becomes the latest former Washington insider to work in the fast growing $2 trillion hedge fund industry. Former Treasury Secretaries Lawrence Summers and John Snow provide advice to D.E. Shaw and Cerberus.
Goldman Sachs Hints at $1000 Gold and $135 Oil
24/7 Wallstreet
January 16, 2008
Goldman Sachs is RAISING ITS 2008 GOLD FORECASTS factoring for a recession in the U.S. in both Q2 and Q3 2008, leading to a weaker U.S. Dollar target of $1.51/Euro (up from $1.35) over the next six months. The prior $800/ounce gold target is now put at an average of $915/ounce for all of 2008, with an exit 2008 commodity price of $850 (up from $825 prior). The call is based on support from investment demand, purchases from emerging market central banks, and the ongoing declining mine supplies.
Goldman Sachs is also raising its 2009 and 2010 gold prices:
2009 prices are now expected to be $870/ounce (up from $852);
2010 prices are now expected to be $940/ounce (up from $907);
Near-term Goldman Sachs notes a possibility of a spike past $1,000.00 that could be the effect of further credit events and increases in oil prices.
http://money.cnn.com/200..llar.ap/index.htm?postversion=2008011605
Shares in freefall as recession hits
http://www.financemarkets.c..s-in-freefall-as-recession-hits/
ECB warns crashing dollar may stop Fed cuts
http://www.telegr..14/bcnfedcut114.xml&CMP=ILC-mostviewedbox
Top economist blames Fed for sub-prime crisis
http://www.telegraph.co.u..=/money/2008/01/13/ccschwartz113.xml
Inflation Up by Largest Amount in 17 Years
http://www.foxbusiness.com/mar..se-03-december_438734_3.html
Citigroup May Write Down Up To $24 Billion, Lay Off 20,000 Workers
http://www.cnbc.com/id/22639976/
Wall Street braces for more losses
http://money.cnn.com/..m?postversion=2008011608
Shadow spreads across the US economy
http://www.theaustralian.new..197,23046413-5015025,00.html
Transit Panel Urges Gas Tax Increase
http://news.aol.com/story/_a/tran..rease/n20080115033009990021
Bankers Throw In Towel On Northern Rock
http://www.telegraph.co.u..oney/2008/01/12/cnnrock112.xml
“U.S. Economy Screwed”: Henry Blodget
http://www.alleyinsider.com/2008/01/us-economy-screwedexperts.html
Largest Saudi Bank Urges Dollar Depeg
http://www.ft.com/cms..ac.html?nclick_check=1
Crisis may make 1929 look a ‘walk in the park’
Wholesale Prices Up 6.7% In 2007
Breaking phase ahead for the global financial system in 2008
Traders betting oil will hit $200 a barrel in 2008
Gold Futures Rise to Record $900.10
Weaker dollar likely to push gold over $1,000-mark
noworldsystem.com 