Saturday, October 17, 2009

FINALLY! Zero Percent Financing Available on 2009 and 2010 Lamborghini Murciélagos

‘Tis the season to buy a Murciélago with zero-percent financing. Lamborghini of America introduced a new Lamborghini Retail Finance Plan that allows customers to buy a Lamborghini Murciélago LP640-4 at zero percent for 60 months.

With the new financing deal, Lamborghini hopes to allow more automotive enthusiasts to get behind the wheel of one of the rarest and fastest cars on the plant. Purchasing a car that has a base price of more than $350,000 normally requires some serious wealth. Now, all it requires is a solid credit score, although we’d still recommend a serious amount of wealth behind your name. (more)

Silver taking a breather

Having flirted briefly with the $18.00/oz level silver is now taking a well earned breather. Although the demand for silver differs from gold the influence of gold is still enormous. However, gold has broken through to record territory and is currently engaged in an inverse battle with the once almighty dollar, so indirectly silver is also a dollar ‘play’.

Todays pull back in silver prices can be attributed to the mini rally, if we can call it that, by the dollar. The dollar had dropped down to touch 75.2 before heading north to trade at 75.7, however the rally lacked any meaningful strength and the dollar is now heading down again to trade at 75.4, as we write, on the dollar index, which compares it to a basket of other currencies. (more)

S&P 500 Index Due for ‘Stiff Correction’: Technical Analysis

The U.S. Standard & Poor’s 500 Index may be due for a “stiff” slump as it approaches a resistance level in coming weeks, according to Nader Naeimi, a strategist at AMP Capital Markets, which holds assets worth $75 billion.

The U.S. index’s 62 percent rally from its March low has brought it close to 1,121.4, which Naeimi says represents the 50 percent level Fibonacci analysts identify as a key resistance point. The performance of the index, which closed at 1,096.56 yesterday, is also diverging from measures of price and breadth momentum, pointing to a deeper “correction” than those that have occurred since the rally began, the strategist said.

“The divergences have started to build up over the past few weeks,” said Sydney-based Naeimi, whose firm went to “overweight” from “underweight” stocks in March. “The new highs the index is making aren’t being confirmed by the measures of momentum. The next push higher is likely to extend those divergences, which suggests we’ll see a deeper correction that lasts several weeks or longer, rather than just days.” (more)

Britain is in danger of going bust, warns EU

Britian's economy was consigned to a list of those at 'high risk' yesterday because of the spiralling national debt.

The European Commission issued a humiliating warning that the worsening budget deficit poses 'serious concerns' that the country will be unable to meet future spending commitments, such as pensions.

The growing number of elderly people threatens to make debt unsustainable and has led to the UK economy being ranked alongside nations such as Latvia, Greece and Romania.

The warning plunged the Government into a furious row with Brussels, as Treasury officials said it called into question the EC's ability to carry out 'credible economic analysis'. (more)

Dollar May Drop 20% More, Harvard’s Ferguson Says

The dollar will extend its drop versus the euro over the next two to five years, falling as much as 20 percent to an all-time low under a widening U.S. budget deficit, Harvard University’s Professor Niall Ferguson said.

Policy makers favor the dollar’s slide as a means of supporting a recovery from the worst economic slump since the Great Depression even as they voice support for a strong greenback, Ferguson said in an interview on Bloomberg Radio.

A weak dollar is “the simplest solution to most of America’s problems right now,” said Ferguson, author of “The Ascent of Money: A Financial History of the World.” “We are likely to see 1 percent to 2 percent growth unless exports take off, and that’s what everyone in Washington is quietly hoping: If the dollar keeps sliding, then maybe we can get some traction on exports.” (more)

Recession Will Be 'Full-Blown Depression': Strategist

This global recession will turn into a "full-blown depression," Nicu Harajchi, CEO of N1 Asset Management, said Friday, adding that global stimulus hasn't come down to Main Street.

Wall Street is making money, while consumers aren't, Harajchi told CNBC.

"We have seen the G20 coming out with cross border capital injections of $5 trillion this year… But a lot of this money hasn't really come down to Main Street," he said.

"When it comes down to corporate America, corporate Europe or even in Asia, in Japan, we are not seeing Main Street making any money," he said. "Consumers are losing their jobs. They are struggling with their mortgages, with their credit. And we are just seeing this continuing." (more)

Federal Deficit Hits All-Time High $1.42 Trillion

The federal budget deficit has surged to an all-time high of $1.42 trillion as the recession caused tax revenues to plunge while the government was spending massive amounts to stabilize the financial system and jump-start the economy.

The imbalance for the budget year ended Sept. 30, more than tripled last year's record. The Obama administration projects deficits will total $9.1 trillion over the next decade unless corrective action is taken.

As a portion of the economy, the budget deficit stood at 10 percent, the highest since World War II, according to government data released Friday. (more)

World Financial Report, Oct 16, 2009

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The Economist (October 17th - October 23rd 2009)

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Foreign Policy - November/December 2009

Foreign Policy explores the issues, people and agendas that shape the political world. These pages bring you unsurpassed depth and political insights on global trends in economy and security issues. You can check out reviews of important books not published in English. Leading foreign journalists from around the world share their insights and expertise. Foreign Policy is a hit with policymakers, business leaders and scholars.

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Business Week (26/10/2009)

* The hard sell. How retailers are fighting for the hearts & minds of the new consumer.

* Inside the business war against tax reform.

* Michael Dell's. Extreme makeover.

* The spectre haunting GE.

* What happens if the dollar crashes.

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