Steve Jobs Great Video about Life

Steve Jobs Great Video about Life

Market crash 'could hit within weeks', warn bankers

A more severe crash than the one triggered by the collapse of Lehman Brothers could be on the way, according to alarm signals in the credit markets.

Insurance on the debt of several major European banks has now hit historic levels, higher even than those recorded during financial crisis caused by the US financial group's implosion nearly three years ago.

Credit default swaps on the bonds of Royal Bank of Scotland, BNP Paribas, Deutsche Bank and Intesa Sanpaolo, among others, flashed warning signals on Wednesday. Credit default swaps (CDS) on RBS were trading at 343.54 basis points, meaning the annual cost to insure £10m of the state-backed lender's bonds against default is now £343,540.

"The problem is a shortage of liquidity – that is what is causing the problems with the banks. It feels exactly as it felt in 2008," said one senior London-based bank executive.

"I think we are heading for a market shock in September or October that will match anything we have ever seen before," said a senior credit banker at a major European bank.

Technical Aspects about the markets

Banned US Commercial about the national debt

Everyone must remember buckle your safety Belt while Driving.

After Owning 300 Billion, Greece become the most powerful country in Europe. Holding Everyone Ramson

Spokes, meet stick. According to Reuters, Greece will seek approval from euro zone finance ministers on Sunday to agree to some changes in a mid-term austerity plan that parliament is expected to pass, the country's new finance minister said on Friday. And so the scramble for concessions begins. First Greece will demand a scrapping of all retirement age hike requirements, then public sector cuts, then everything else in the mid-term plan, until the second bailout is effectively without conditions. And now that Merkel has effectively thrown in the towel to her, and the CDU's, political reign by agreeing with the ECB's and France's demands, a move which will be brutalized by Der Spiegel in T minus 5 minutes, the fact that Europe blinked to Greece's bluff, just may mean that every demand out of Greece will be met. Or not. If the Troica tells Greece to go to hell, this could be the end of the bailout package.

Let Not forget about Joplin. Try to Help if you are nearby.

150 Economists Sign Letter Against Increase Of US Debt

Following last night's largely irrelevant and extremely theatrical vote for a clean debt ceiling hike, this morning 150 economists (of which those belonging to Ivy League institutions can be counted on one finger... the middle one) have signed a letter warning that "a debt limit increase without spending cuts and budget reform will destroy American jobs." Luckily, since a clean debt ceiling hike will have no impact on the BLS birth/death model, there is no reason to bother Paul Krugman with the fact that ever more of his peers think that those calling for endless fiscal largesse are now a part of the problem, and not the solution. From the letter: "An increase in the national debt limit that is not accompanied by significant spending cuts and budget reforms to address our government’s spending addiction will harm private- sector job creation in America. It is critical that any debt limit legislation enacted by Congress include spending cuts and reforms that are greater than the accompanying increase in debt authority being granted to the president. We will not succeed in balancing the federal budget and overcoming the challenges of our debt until we succeed in committing ourselves to government policies that allow our economy to grow. An increase in the national debt limit that is not accompanied by significant spending cuts and budget reforms would harm private-sector job growth and represent a tremendous setback in the effort to deal with our national debt." The full list of signatories is below. Among them are Nobel prize winner and Euro scourge Robert Mundell, John Taylor, Alan Meltzer, Douglas Holtz-Eakin, as well as former U.S. Secretary of State George P. Shultz, and many more. Suddenly the idea of buying US CDS does not seem so outlandish.

Everyone need to be more careful on China roads. Female Road Bullies everywhere

If someone never gives way on China road, this may be what happen shows on the video Starting from 1.15 onwards in the video.

Average people need to continue their Living even with all the fightings.Love to visit his restaurant one day.

Through heavy bombardment and mercenaries roaming the streets,this small restaurant keeps an open door. In a city that's looks almost devoid of life, this restaurant encourages other small business to start working again too.

From investors point of View, Now is the best time to invest in Libya if Gaddafi Regime is not around.
Libya with 6.4 million people and 41.5 Billion barrel of Sweet Crude oil with production cost of $1 per barrel. If they do not follow the path of Nigeria or other oil rich countries that mismanage their oil wealth or has a corrupted Government.
Libya may become a great nation too. The eatery owner just shows Libyan Know what they need to do to become great again.

Monday, May. 11, 1987 The Great Bond Bombshell

It started as a mistake, by all signs an honest one, but it grew into a Wall Street disaster. A 36-year-old senior bond trader at Merrill Lynch apparently lost his cool last month when rising interest rates started rapidly eroding the value of his $900 million portfolio. Instead of liquidating the securities and taking the loss, as most of his colleagues on Wall Street were doing, the Merrill Lynch trader seemingly gambled on a go-for-broke strategy. Without his employer's permission, he plunged in deeper, buying up $800 million more of the securities in the hope that an interest-rate turnaround would bring enough profits to bail out all his losses. His wager failed spectacularly. When Merrill Lynch announced the episode last week, the firm estimated its losses at $250 million, possibly the largest single trading deficit in Wall Street history.



The financial community was stunned at not only the immensity of the loss but also the identity of the trader: Howard Rubin, the head of Merrill Lynch's trading desk for mortgage-backed securities. Rubin, who has been fired but not charged with any criminal wrongdoing, was a respected trader and is a Harvard Business School graduate. Said Stephen Joseph, a senior trader at Drexel Burnham Lambert: "It's really strange. He has a great reputation."



But Rubin was apparently dealing in one of the tricky, relatively untested new types of securities. The bonds that tripped up Merrill Lynch are interest-only/principal-only securities, known as IOPOs. Investment houses create them by buying mortgage-backed bonds -- typically those issued by the Government National Mortgage Association, or Ginnie Mae -- and then splitting the securities into two parts, one that pays interest and another whose price rises or falls with the resale value of the bond. Rubin was selling the interest-paying bonds and hanging on to the principal securities, which lost value rapidly as interest rates rose.



The incident prompted questions about Merrill Lynch's internal supervision. The firm claimed it had put a closer watch on Rubin at least a year earlier, after assessing him as talented but riskprone. Last week the company began an in-house probe and fired a second trader, who had allegedly failed to disclose investments and lost $10 million. Meanwhile, colleagues began looking for hints in Rubin's background about why he took such a plunge. According to one account, the trader had been a devoted blackjack player before his business-school days.

Very Sad Video. Just watch from 3.45 onward.

If you are in Tokyo, You shall not Panic.

Japan Big EarthQuake

The Latest Middle East Show in Town

Lunatic Muammar Gaddafi - Zenga Zenga Song

Is She/He on Drugs? His/Her Speech sounds like an lunatic.

Shall we Start preparing for Global Food Riots?

There will be riots if the makets allow to crash?

By the End Of March, Euro will cease to exist

The next administration might not stick to the arrangement, according to Soros, the 80-year-old investor who became renowned in the early 1990s after betting against the pound. National elections in Ireland will probably take place in March, with the ruling Fianna Fail party trailing the opposition Fine Gael by 17 percentage points in the latest opinion poll.




‘Politically Unacceptable’



That next government “is bound to repudiate the current arrangements,” Soros said in his Dec. 14 article for the FT. Soros called the protection of senior bank bondholders “politically unacceptable’,’ and said interest rates charged on rescue packages should be lowered to avert the risk “that the euro may destroy the political and social cohesion of the EU.” Ireland will pay an average 5.8 percent interest rate on the aid.