Government warns of “catastrophic” U.S. quake in New Madrid Seismic Zone
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David V. sent this: Argentine Stocks Threatened as Biggest Holders Seized.
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There is an old saying on Wall Street: “Nobody beats the bear.” That was recently proven out by Warren Buffett, the legendary manager of Berkshire Hathaway. Because of some bad trading decisions, the company’s share value has declined $23 billion since September 17th. Buffett’s company had a value over $55 billion, but now they’re down to just over $32 billion. That is still quite a nest egg, and they’ve still made a pile of money for their stockholders in the past 42 years. OBTW, stocks may be down, but it looks like the gold bull may be resuming his charge. The analysts quoted by Bloomberg seem to agree: Gold Surges Amid Deflation Concern; Silver, Platinum Rebound
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Reader B.H. mentioned that the USDA now has a rural loan program for middle to low income families that offers “zero down” or “low down” loans. The goal of the program is to get people to move to rural areas. The loans can be for new construction, remodels and even manufactured homes or multi-family units. I’m adverse to debt, but if you must get a mortgage, then get a low interest one, and pay it off as quickly as possible!
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Another Day of Dollar-based Dreariness from The Economatrix: Citigroup’s Troubles Will Not Sleep — EU’s Superbank EIB in Perilous Waters — Brutal US Share Sell-Off as Oil Drops — How the Oil Collapse Changes Everything — Freddie Suspends Foreclosure Sales Temporarily — The Global Financial System is Coming to an End Here are a couple of quotes: “There are going to be stock market rallies within this bear market, and that will be the time for those still holding and hoping to get out before the bear really begins to claw in 2009.” And, “Before this secular Bear Market is over, we are going to new lows in all indices, more than 3,500 banks will close, unemployment will surge, there will be violence in the streets and people will kill you to get what you have.” — Silver in Crisis — How Low Can the Dow Go? — Stocks Rally as Obama Picks Geithner to Head Treasury — ‘Unprecedented” Biotech Bankruptcies Erupt as Global Crisis Curbs Funding — GMAC Applies For Bank Status, TARP Funds — Traditional Pensions: Are They At Risk?