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IDS World Market Thur 5th March 09


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South African House Prices Decline for Third Month

 

March 5 (Bloomberg) -- South African house prices fell for a third month in February, declining 1.3 percent from a year ago, said Absa Group Ltd., the country?s biggest mortgage lender.

 

Nominal house prices dropped to 950,800 ($91,878), the Johannesburg-based lender said in an e-mailed statement today. Prices fell a revised 0.9 percent in January.

 

South Africa?s economy, the biggest on the continent, will probably expand 0.5 percent this year, Absa said, compared with 3.1 percent in 2008. Mining companies and manufacturers are cutting jobs, which may further undermine consumer spending, pushing nominal house prices down between 3 percent and 4 percent this year, the lender said.

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ES down 20 pernts from D high. It was a pretty powerful one. I expect it to keep on giving.

 

 

Posted last night M2M.

 

I will post any Up Divies today.

 

I added to swing short Quads at an inopportune time yesterday but it's paying off now!

 

Bears :ph34r:

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BOE starting the ball rolling with its stated intention to print ... can the other central banks be far behind?

 

Deflationists has been on top lately. Will the hyper-inflationists get their day in the sun? Gold sorta teasing after bouncing off $900.

 

 

http://www.marketwatch.com/news/story/ecb-...mp;siteid=yhoof

 

The move comes after the Bank of England cut its key lending rate to 0.5% and announced a program of "quantitative easing" -- purchasing assets to effectively print money in a bid to prevent a deflationary spiral

 

 

LONDON (MarketWatch) -- The Bank of England on Thursday cut its key lending rate nearly to zero and announced it would launch an unprecedented program to effectively print money by buying up to 75 billion pounds ($105.8 billion) in assets from financial institutions in a bid to ramp up spending and prevent a deflationary spiral.

The nine-member Monetary Policy Committee cut the bank rate from 1% to 0.5%, the lowest level in the central bank's 300-year-plus history. The rate cut was widely anticipated and could be the final reduction in a series of cuts that have slashed the key lending rate from 5% since October.

In a statement, the MPC said the bank would buy a total of 75 billion pounds in assets over the next three months. The majority of purchases will be government bonds, or gilts, the BOE said.

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Back to personal instruction manual for management of large debt laden cooperation who's stock price falls below 10 bucks...

 

1.) buy your own companys stock - check

2.) appear on CNBS and say everything is gonna be ok... check (right now)

 

GE Follow Up: General Electric CFO, on Crapvision, discusses recent speculation about GE Capital

"Reiterates that the company has an incredibly strong liquidity position. Says there are no triggers that would put sudden strain on short term cash"

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