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Stocks


45 Percent of Global Wealth Destroyed in Last 18 Months

by John P.

money-burningThis is a fascinating report from Megan Davies and Walden Siew of Reuter’s. Thanks to Jacques Snyman for sharing the link over on Facebook.

45 percent of world’s wealth destroyed: Blackstone CEO

NEW YORK (Reuters) – Private equity company Blackstone Group LP (BX.N) CEO Stephen Schwarzman said on Tuesday that up to 45 percent of the world’s wealth has been destroyed by the global credit crisis.

“Between 40 and 45 percent of the world’s wealth has been destroyed in little less than a year and a half,” Schwarzman told an audience at the Japan Society. “This is absolutely unprecedented in our lifetime.”

So, if your 401k is suffering, well… join the club! The whole world is in this one together, and that means we all have to get together and work our way out if it.
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Depressing Financial News Abounds – Are We Headed for a Depression?

November 20, 2008

I told you guys we were in a recession back in March, but now I fear we could move from a recession straight into a depression. Things could get really bad… Let’s examine shall we? In economics, a depression is a sustained, long downturn in one or more economies. It is more severe than a [...]

Financial Crisis? Ha! Warren Buffett is Buying Stock NOW!

October 17, 2008

Wow! The New York Times hit a home run today with this editorial column from Warren Buffett. So, for all of you guys who are feeling scared and wondering what to do with the economy in the toilet right now, you might want to listen to one of the richest men ever to walk the [...]

News Flash: Dow Jones Loses 780 Points …or… The Sky is Falling!

September 30, 2008

Damn! Why has everyone lost their freakin mind lately? Basically every where we turn the economic indicators are going absolutely insane! Let’s recap some of the horrible things that have been going on lately, shall we? Yes. We shall… Before we get started, I would just like to send out a big “I told you [...]

Exactly 9 Years Ago Today: Fannie Mae Eases Credit To Aid Mortgage Lending

September 30, 2008

This is sickening. Thanks to Jimbeau for passing along this little piece of financial history. If you wonder why the economy is completely in the crapper right now, well here is a contributor to the problem. Nine years ago today the New York Times issued this report. Let’s be clear, although the report gives some [...]

Stock Exchange Record Setting Downturn

February 27, 2007

Today the New York Stock Exchange had a record setting day… in a very bad way. Without warning and in a period spanning just one minute, the market lost a combined $60 Billion in just the top 30 blue chip companies. That’s with a “B” folks. The Associated Press said the following: Stocks Have Worst [...]

The Importance Of Retirement Planning

November 6, 2006

Nitroglycerin is volatile. So are markets, all markets. Always have been, always will be. In 2000 the stock market took a nose dive, just as it has, on average, every 7 years since they opened the doors of the NYSE. Spinach farmers can tell you a thing or two about volatility with the recent food [...]