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Bacillus
Wall Street
It will affect the economy of our mortgage crisis in the United States
Could be worse. Investors six American hedge funds lost almost all (amounting
to billions of dollars), because it does not buy those securities - bonds,
secured risky mortgage loans. One only Sowood Capital Vaile nearly $ 2 billion
A few years ago, the money in the United States worth very little and one in
five mortgage borrowers issued, which in normal circumstances, no one would
venture to give even on TV. Today porridge accounted rashlebyvat: Loan bankruptcy of hundreds of thousands of homeowners and tens of Remortgage brokers,and finally hit on hedge funds, nedootsenivshim scale of the risks. Last week,
news of this, and dragged down world markets.
"I think the correction correct, we return to normal conditions - Reuters
said Michel Pereti, Bad Credit Mortgage
investbanka Bear Stearns. - Personally, I expect that the market will recover
in III quarter." It looks like a good mini in a bad game: Bear Stearns
will have to write off a couple of billion dollars invested in the failed hedge
funds. Unlike Pereti billionaire investor Jim Rogers, who made his status on
the fact that even in 1999 put in the coming Mortgages boom, nothing good from the stock market does not wait and sells shares. "This is one of the
biggest financial bubble in history - he told Bloomberg. - and the worst bubble
- in the real estate market because for the first time to buy a house those who
had no money at all. we still long this will not vychistim."
AMERICAN INFECTION
In recent years, investors have grown accustomed to the fact that the rapid growth of Credit markets, and if interrupted, it briefly. With the MSCI Index in 2001rose 3 times, the RTS index - at 10. But the longer the boom lasts, the more
often the question arises: when it will end? Markets nervous, trying to
recognize a signal indicating the beginning of the end. In spring 2006.
Exchange experienced two very unpleasant correction. The drop, which began last
week, is very similar to the third call. At the speed it was the most
significant development since the last recession in in 2001
But not only the stock market puts antirekordy. In July, the level of business
confidence in the American construction fell to the lowest in in 1991, when the
U.S. economy experienced a recession. Infection with the financial market
extends to other sectors of the American Bad Credit. In II quarter sales of 53retail chains rose by only 2.3% - this is the lowest rate in four years (in II
quarter in 2006 sales to retailers increased 4%). Very bad signal, given that
private consumption provides the huge share of economic growth in the United
States. On the deterioration of its performance report transportation,
engineering and chemical companies - they blame in all subcontractors,
builders, in July drop in the production of 6.6%. One of the world's largest
manufacturers of construction equipment, Caterpillar, said the fall in profit
for quarter II at 21%. Charles Holliday, CEO of the largest chemical
corporation DuPont, reported that the company's profits will be Mortgage lessthan expected and the situation is unlikely to improve until the stabilization
of the real estate market. Holliday believes that will have to wait at least a
year.
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