Sean O’Grady: Fall in house prices is cause for celebration (Independent)
Why the long faces? House prices have fallen at their fastest rate since 1992 - good.
Australian economy vulnerable: IMF (The Age)
Australia is warned that it could hit by the financial tsunami swamping the US.
Goldman Says Sell Fannie, Freddie; Lehman Says Buy (Update2) (Bloomberg.com)
April 8 (Bloomberg) — Fannie Mae and Freddie Mac shares will tumble to $16 or less, Goldman Sachs Group Inc. says. At Lehman Brothers Holdings Inc., analysts are telling their clients the shares will soar to $45 or more.
The Battle Raging Between Inflation and Deflation
It is a “leveraged planet,” says the New York Times . It explains that an ounce of leverage in Manhattan is likely to turn into a pound of credit in Dubai… which could quite possibly fall as a ton of debt on someone’s head in Norway. Norwegian fishermen were surprised when they discovered that they were taking losses from US subprime mortgage debt. So were German dentists. But that’s just the way globalization works. We have nothing against it, but neither would we mind if there were less of