RARE Flash Alert from the Harry Schulz Newsletter - 'Good Luck To Us All'

----- Original Message ----- From: PD To: Sent: Thursday, July 03, 2008 7:16 PM Subject: FW: RARE Flash Alert From the Harry Schulz Newsletter - "Good luck to us all"   I just got this and thought I should pass it along ASAP!   This just posted (7/3 @3:35PM)on Jim Sinclair's site, http://www.jsmineset.com/ Jim, I thought this would be of interest as I know you and Uncle Harry have close ties and philosophies. Its timing coincides perfectly with your recent admonitions to the community. Good grief! Well, just in time for a pleasant holiday, I have received something in the mail that I’ve never gotten before in 30 years of receiving the Harry Schultz Letter.. » read more

GM shares fall below $10 for first time since 1954

Wednesday July 2, 6:20 pm ET GM shares give up gains posted on better-than-expected US sales, hit new low below $10 mark NEW YORK (AP) -- Shares of General Motors Corp. plunged Wednesday to close below $10 for the first time in more than half a century, on worries about the company's cash needs and speculation about a possible GM shares fell $1.77, or 15.1 percent, to close at $9.98.. » read more

L.A., Miami Home Foreclosure Rates More Than Double (Update1)

July 2 (Bloomberg) -- New foreclosures almost quadrupled in Los Angeles and doubled in Miami in the second quarter, with as much as $5 billion worth of loans going bad in L.A. alone, the online real estate data company PropertyShark.com reported. The number of homes scheduled for auction in Los Angeles rose 14,505 compared with 3,797 in the same period a year earlier, PropertyShark said in a report distributed by e-mail.. » read more

Dow Jones breaks Great Depression record for poor performance (with video)

July 1, 2008 It is a downtrodden Dow Jones that opens this morning, teetering on the edge of Bear Market Territory. "We'll see what happens in the first half-hour on Monday," one trader told ABC News. It doesn't matter what happens on Wall Street. In Chula Vista, Calif. residents there won't see fireworks.. » read more

China Warns US Economy On Brink Of Collapse Over Massive Dollar Outflow

July 1, 2008 China’s State Administration of Foreign Exchange (SAFE) is warning today that an ‘unprecedented’ inflow of money from Western Nations has increased their foreign reserves to nearly $1.8 trillion, of which billions cannot be explained. This news comes at the same time that reports in the United States are stating: “United Nations sources report that there has been a sudden rush in requests for foreign exchange wire transfer requests from New York City banks. The sudden demand for transferring funds abroad has resulted in a 24 to 48-hour processing delay due to the sheer volume of requests. Foreign employees at the United Nations are transferring their money from accounts at the United Nations Federal Credit Union (UNFCU) and other New York City banks, both domestic and foreign-owned, and the move has been sudden.. » read more

Manhattan Office Vacancy Rates Climb to Two-Year High (Update3)

July 1 (Bloomberg) -- Manhattan's office vacancy rate rose to its highest level since 2006 in the second quarter as financial firms, beset by losses, fired workers and reduced their office space, real estate brokerage Cushman & Wakefield Inc. said. Vacancies in the most expensive U.S. office market rose to 7.. » read more

World Economy May Be AT "Tipping Point"

July 1, 2008 The world economy is already experiencing the worst financial market turbulence in the postwar period and could be on the edge of something much worse. That is the analysis made in the annual report of the Bank for International Settlements, published yesterday. The BIS, often known as the central bankers’ bank, has been warning of the dangers contained in the build-up of credit and the development of new and highly complex financial instruments over the past decade. Now it says “the unsustainable has run its course.” The report insisted that the subprime crisis in the United States was only the trigger for the financial crisis, not its ultimate cause.. » read more

CBS: Report predicts $7/gallon gas 6/27/08 (video)

une 27, 2008  A new energy report predicts that oil will cost $200 a barrel in two years. If that happens, gas would go up to $7 a gallon. CBS News' Priya David reports on the huge impact that would have on American lives. This video is from CBS Evening News, broadcast June 26, 2008.   TO VIEW THIS VIDEO CLICK ON:   youtube.. » read more

China's Gas Price Conundrum (video)

Posted 7/1/08 China's subsidized fuel prices worked miracles in the past, but because they hurt energy stocks, they are now a major policy concern. TO VIEW THIS VIDEO CLICK ON: video.on.nytimes.com/?fr_ story=28530d69c138903434657c 85ad8204060d602e2d. » read more

Global Markets Reel After First-half Carnage

June 27, 2008 Global equities were on Friday heading for their worst first-half performance in 26 years after a week in which oil surged to a record and there were renewed worries about the health of the financial system and ­global growth. A high of $142.99 a barrel for oil sparked a tumble in Asian markets and selling in Europe and New York. The Dow Jones Industrial Average on Friday closed just shy of 20 per cent below its record high set in October and is on cusp of entering an official bear market. Fears of inflation and slower growth caused by higher energy costs are weighing on equities.. » read more

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