Lok Sang Ho

Countrywide / Bank of America REOs Fall to February 2007 Levels

What does REO stand for? Why are lender owned properties called REOs?

Friday's Jobs Report: Key Variables to Watch

Chinese factories are closing and migrant workers are returning home. Imports are declining faster than exports. If the Yuan and the Yen should rise more, China and Japan cannot afford to import because though the currencies could exchange for more US dollars high unemployment means that they cannot place big orders for American goods like what they used to do. Remember how many Boeing planes China ordered just a couple of years ago. And remember that Japan has been running a trade deficit for months.

Wall Street Breakfast: Must-Know News

The prognosis is quite positive in 2009 as the Fed and the Federal Government both adopt aggressive measures to contain the crisis. The approach adopted by the FDIC is yet another example of sealing further losses that I have commented on previously. This is working and will prevent the economy from an otherwise quite possible downward spin as portrayed by Roubini and others.