EconomicCrisis.US

Nation’s top financial forecaster inspired by outdoors, exercise Friday, October 31, 2008
Joel Naroff was visiting Arizona in September 2005 when he had an epiphany. Phoenix-area Realtors were looking for home prices in the metropolitan area to surge about 40 percent for a second year.

“That was an indication to me that the market had gotten out of control,” he recalls.
Naroff’s concern about a housing bubble paid off three years later: He’s the top forecaster of the U.S. economy in a period that included the start of the global credit crisis, according to data compiled by Bloomberg. Naroff, 59, was the most accurate for his combined predictions for Gross Domestic Product, unemployment, the Consumer Price Index and the Federal Reserve’s benchmark interest rate.
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The Federal Reserve is extending a helping hand to the central banks in four emerging-market countries as it takes its efforts to unfreeze money markets on the road. The Fed is opening four $30 billion liquidity swap facilities with the central banks of Brazil, Mexico, South Korea and Singapore until April 30, giving each country access to dollars at close to the same rates that G-7 countries enjoyed until the credit crunch turned into a credit crisis. European Union countries received unlimited access to dollars on Oct. 13.
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Deutsche Bank today reported steep falls in pre-tax and net profits and a further series of writedowns in the third quarter as the collapse of US investment bank Lehman Brothers last month sent the global banking sector into freefall.

It warned of further trading losses in the current quarter on top of the €1.3bn (£1bn) recorded in the third quarter despite some early signs of loosening in credit markets following co-ordinated government intervention. It dropped a big hint it would cut this year’s dividend but insisted it had no need to raise capital from the state.
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What does it take to get a part time job? Shouldn’t the agony of spilling out your soul on a structured application be enough? Apparently not. With the country and the world suffering from the set backs of the failure on Wall Street, employers aren’t able to hire people due to the lack of money. But, because some big shots messed up on wall street, I must suffer the consequences? Living in the city is far from cheap. Corporate America is set on making money, so why don’t they give people a chance to help them out?
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