American Funds 1yr, 5yr, 10yr & lifetime returns
The American Fund 7.26, 11.38, 8.03, 11.78
Capital World Growth 20.55, 23.19, 12.75, 14.72
Growth Fund of America 14.45, 16.74, 10.96, 15.31
Income Fund of America 7.90, 13.79, 8.41, 12.51
New Economies 17.60, 18.83, 8.04, 12.47
from a much earlier post in this thread
The American Fund 7.26, 11.38, 8.03, 11.78
Capital World Growth 20.55, 23.19, 12.75, 14.72
Growth Fund of America 14.45, 16.74, 10.96, 15.31
Income Fund of America 7.90, 13.79, 8.41, 12.51
New Economies 17.60, 18.83, 8.04, 12.47
from a much earlier post in this thread
Senate Votes to Help Strapped Homeowners
Friday December 14, 12:18 pm ET
By Jesse J. Holland, Associated Press Writer <table border="0" cellpadding="0" cellspacing="0" height="4"><tbody><tr><td height="4">
</td></tr></tbody></table>Senate Passes Bill Aimed at Helping Homeowners Caught in Mortgage Crisis
WASHINGTON (AP) -- The thousands of Americans facing foreclosure because of the ballooning interest rates on their subprime mortgages would get help from the federal government under legislation overwhelmingly approved by senators Friday.
The legislation, approved 93-1 :lol:, is the Senate's first attempt to address the looming subprime mortgage crisis through stand-alone legislation. Sen. Jon Kyl, R-Ariz., was the lone senator to vote no.
The bill would allow the Federal Housing Administration to back refinanced loans for tens of thousands of borrowers who are delinquent on payments because their mortgages are resetting to sharply higher rates from low initial "teaser" levels.
An estimated 2 million to 2.5 million adjustable-rate mortgages are scheduled to "reset" this year and next, jumping from low "teaser" rates for the first two or three years to much steeper rates that could cost borrowers their homes.
The wave of resets could crest during the presidential and congressional election campaigns next year, and the issue has brought politically charged debate in recent weeks over possible responses by the government.
The legislation will help the Federal Housing Administration "be a source of salvation for those families who were tricked into unaffordable loans," said Sen. Charles Schumer, D-N.Y.
:nohead:
President Bush last week announced an agreement with mortgage companies to freeze interest rates for certain subprime mortgages for five years. Democrats in Congress, however, criticized the White House plans as being too limited.
The Senate bill raises the maximum mortgage the FHA can insure in high-cost areas from $362,790 to $417,000 -- the same level as loans backed by Fannie Mae and Freddie Mac.
The FHA currently insures 3.7 million mortgages, but critics say the size of mortgages the government agency can back is often too small to attract borrowers in expensive areas such as California and the Northeast. As a result, FHA's share of the single-family mortgage market has dropped to about 4 percent, down from 19 percent more than 10 years ago.
The House passed similar legislation back in September. The two chambers must now come to an agreement on the legislation before sending it to the White House for approval.
Friday December 14, 12:18 pm ET
By Jesse J. Holland, Associated Press Writer <table border="0" cellpadding="0" cellspacing="0" height="4"><tbody><tr><td height="4">
</td></tr></tbody></table>Senate Passes Bill Aimed at Helping Homeowners Caught in Mortgage Crisis
WASHINGTON (AP) -- The thousands of Americans facing foreclosure because of the ballooning interest rates on their subprime mortgages would get help from the federal government under legislation overwhelmingly approved by senators Friday.
The legislation, approved 93-1 :lol:, is the Senate's first attempt to address the looming subprime mortgage crisis through stand-alone legislation. Sen. Jon Kyl, R-Ariz., was the lone senator to vote no.
The bill would allow the Federal Housing Administration to back refinanced loans for tens of thousands of borrowers who are delinquent on payments because their mortgages are resetting to sharply higher rates from low initial "teaser" levels.
An estimated 2 million to 2.5 million adjustable-rate mortgages are scheduled to "reset" this year and next, jumping from low "teaser" rates for the first two or three years to much steeper rates that could cost borrowers their homes.
The wave of resets could crest during the presidential and congressional election campaigns next year, and the issue has brought politically charged debate in recent weeks over possible responses by the government.
The legislation will help the Federal Housing Administration "be a source of salvation for those families who were tricked into unaffordable loans," said Sen. Charles Schumer, D-N.Y.
:nohead:
President Bush last week announced an agreement with mortgage companies to freeze interest rates for certain subprime mortgages for five years. Democrats in Congress, however, criticized the White House plans as being too limited.
The Senate bill raises the maximum mortgage the FHA can insure in high-cost areas from $362,790 to $417,000 -- the same level as loans backed by Fannie Mae and Freddie Mac.
The FHA currently insures 3.7 million mortgages, but critics say the size of mortgages the government agency can back is often too small to attract borrowers in expensive areas such as California and the Northeast. As a result, FHA's share of the single-family mortgage market has dropped to about 4 percent, down from 19 percent more than 10 years ago.
The House passed similar legislation back in September. The two chambers must now come to an agreement on the legislation before sending it to the White House for approval.
remember the good ol days of 6 months into the housing crises people saying it will bottom soon and be contained, now its late 2009 for now at least
----------------------------------------------------------------
http://biz.yahoo.com/ap/071214/fannie_mae_shareholders.html
Fannie CEO: Housing Trouble Until 2009
Friday December 14, 1:27 pm ET
By Marcy Gordon, AP Business Writer
Fannie Mae Chief Executive Says Company Is in Strong Position to Weather Housing Turbulence
WASHINGTON (AP) -- Fannie Mae's CEO told shareholders Friday he does not expect a housing market recovery until late 2009, "at the earliest," and that the mortgage-finance company is strong enough to ride out the downturn.
----------------------------------------------------------------
http://biz.yahoo.com/ap/071214/fannie_mae_shareholders.html
Fannie CEO: Housing Trouble Until 2009
Friday December 14, 1:27 pm ET
By Marcy Gordon, AP Business Writer
Fannie Mae Chief Executive Says Company Is in Strong Position to Weather Housing Turbulence
WASHINGTON (AP) -- Fannie Mae's CEO told shareholders Friday he does not expect a housing market recovery until late 2009, "at the earliest," and that the mortgage-finance company is strong enough to ride out the downturn.
"Don't bottom fish"
Peter Lynch
Man it's tempting to try for some of these beaten down financials but it was also tempting 3 months ago when they were at 52 week lows. Now they are at much lower 52 week lows.
CCRT and DFS are looking good but I guess I will wait it out some more.
Peter Lynch
Man it's tempting to try for some of these beaten down financials but it was also tempting 3 months ago when they were at 52 week lows. Now they are at much lower 52 week lows.
CCRT and DFS are looking good but I guess I will wait it out some more.
ron paul gonna be on mad money tonight that should be awesome
:lol:
PBS
Interview on NOW Check local listings
CNBC
Mad Money with Jim Cramer 6:00 PM / 11:00 PM ET
Red Lion Hotel and Casino, 2065 Idaho Street, Elko, NV 89801
Meeting with Elko County Republicans 7:00 PM - 8:30 PM
:lol:
PBS
Interview on NOW Check local listings
CNBC
Mad Money with Jim Cramer 6:00 PM / 11:00 PM ET
Red Lion Hotel and Casino, 2065 Idaho Street, Elko, NV 89801
Meeting with Elko County Republicans 7:00 PM - 8:30 PM
Elko, Nevada?
There must be alot of gold and silver fans there, since alot of mining is going on in that part of the country.
Looking forward to seeing Ron Paul on tonights show.
www.teaparty07.com
www.ronpaul2008.com
:chest:
There must be alot of gold and silver fans there, since alot of mining is going on in that part of the country.
Looking forward to seeing Ron Paul on tonights show.
www.teaparty07.com
www.ronpaul2008.com
:chest:
Tiznow, its been a good week with your AMZN short call.
Its leading the market on its way down this afternoon.
down 5 bucks since i entered
arty:i'll probably pick out some other froth after we set a lower low, followed by a bear shake come back giving bulls hope again
on that bear shake amzn came back to pretty much its october high so looked juicy, plus its p/e is insane
China's wealthiest investors set for gold spree
China's wealthiest investors are on the brink of ploughing as much as $68 billion
into gold markets as they take profits from roaring share prices and steer clear of
property, a top fund manager and bullion bull says.
Wang Weilie, a pale, bespectacled 40-something who manages over 1 billion yuan
($135 million) on the Shanghai Gold Exchange on behalf of himself and clients, says
the so-called "Zhejiang clique" are ready to pounce after Beijing opens up spot
market bullion trading and a futures contract launches early next year.
China's wealthiest investors are on the brink of ploughing as much as $68 billion
into gold markets as they take profits from roaring share prices and steer clear of
property, a top fund manager and bullion bull says.
Wang Weilie, a pale, bespectacled 40-something who manages over 1 billion yuan
($135 million) on the Shanghai Gold Exchange on behalf of himself and clients, says
the so-called "Zhejiang clique" are ready to pounce after Beijing opens up spot
market bullion trading and a futures contract launches early next year.
After amassing an estimated 3 trillion yuan ($400 billion) from investing in red-hot real
estate and stock markets which have risen five-fold in the past two years, the
wealthy group from eastern China is looking for the next sure bet. Wang says that's
gold, and expects the amount of Chinese capital invested in the bullion market to
soar 100-fold to some 500 billion yuan ($67.5 billion) in the next two years -- a
sum that could catapult China ahead of India as the world's top buyer.
"We all agreed that upside room on stocks was limited, as was upside on property
prices. But the gold price has only increased minimally, even after 20 years of
China's reform and market opening," Wang told Reuters during a lunch with three
business partners in Lujiazui, Shanghai's financial hub.
Coupled with inflation and global economic uncertainty, the redirection of Chinese
capital towards domestic gold contracts will help spot prices more than double, says
Wang, who says he once cornered two-thirds of the Chinese gold forward contract.
"Spot gold prices will hit $2,000 in coming years," he said. Spot gold touched a 28-
year high of $845.40 per ounce in early November, nearly doubling over three
years amid a flood of investment in the commodities complex -- much of it driven
by China's growing demand for raw materials to fuel its economy.
Wang expects more than 15 percent of the capital currently invested in China's
stock market to move to gold trading. China's total market capitalization peaked at
about 35 trillion yuan in October, exceeding the country's gross domestic product.
The main stock index tumbled nearly 20 percent last month while Beijing has
continued tightening controls over the property sector to limit price gains.
got gold? :chest:
China's wealthiest investors are on the brink of ploughing as much as $68 billion
into gold markets as they take profits from roaring share prices and steer clear of
property, a top fund manager and bullion bull says.
Wang Weilie, a pale, bespectacled 40-something who manages over 1 billion yuan
($135 million) on the Shanghai Gold Exchange on behalf of himself and clients, says
the so-called "Zhejiang clique" are ready to pounce after Beijing opens up spot
market bullion trading and a futures contract launches early next year.
China's wealthiest investors are on the brink of ploughing as much as $68 billion
into gold markets as they take profits from roaring share prices and steer clear of
property, a top fund manager and bullion bull says.
Wang Weilie, a pale, bespectacled 40-something who manages over 1 billion yuan
($135 million) on the Shanghai Gold Exchange on behalf of himself and clients, says
the so-called "Zhejiang clique" are ready to pounce after Beijing opens up spot
market bullion trading and a futures contract launches early next year.
After amassing an estimated 3 trillion yuan ($400 billion) from investing in red-hot real
estate and stock markets which have risen five-fold in the past two years, the
wealthy group from eastern China is looking for the next sure bet. Wang says that's
gold, and expects the amount of Chinese capital invested in the bullion market to
soar 100-fold to some 500 billion yuan ($67.5 billion) in the next two years -- a
sum that could catapult China ahead of India as the world's top buyer.
"We all agreed that upside room on stocks was limited, as was upside on property
prices. But the gold price has only increased minimally, even after 20 years of
China's reform and market opening," Wang told Reuters during a lunch with three
business partners in Lujiazui, Shanghai's financial hub.
Coupled with inflation and global economic uncertainty, the redirection of Chinese
capital towards domestic gold contracts will help spot prices more than double, says
Wang, who says he once cornered two-thirds of the Chinese gold forward contract.
"Spot gold prices will hit $2,000 in coming years," he said. Spot gold touched a 28-
year high of $845.40 per ounce in early November, nearly doubling over three
years amid a flood of investment in the commodities complex -- much of it driven
by China's growing demand for raw materials to fuel its economy.
Wang expects more than 15 percent of the capital currently invested in China's
stock market to move to gold trading. China's total market capitalization peaked at
about 35 trillion yuan in October, exceeding the country's gross domestic product.
The main stock index tumbled nearly 20 percent last month while Beijing has
continued tightening controls over the property sector to limit price gains.
got gold? :chest:
They can still influence the gold price.
Even the threat of a large sell-off depresses gold quite quickly, even though they now only hold about 20%
http://en.wikipedia.org/wiki/Official_gold_reserves
Even the threat of a large sell-off depresses gold quite quickly, even though they now only hold about 20%
http://en.wikipedia.org/wiki/Official_gold_reserves
wait until the Chinese Central Bank gets wise and starts trading in their dollars for gold...word gets out spot price will jump $50 in a day....jmho
a couple years ago, Russia sent the head of their CB to a gold conference put on by GATA....dude was so impressed a week later the spot price of gold took off and rose by $100 within a couple months - later attributed to Russian buying. They are still buying heavily to this day.
BTW - that same Russian official recently quoted GATA in a speech about monetary policies
(GATA is a US based group formed to combat the supression of gold prices by the cartel)
http://www.gata.org/taxonomy/term/2
a couple years ago, Russia sent the head of their CB to a gold conference put on by GATA....dude was so impressed a week later the spot price of gold took off and rose by $100 within a couple months - later attributed to Russian buying. They are still buying heavily to this day.
BTW - that same Russian official recently quoted GATA in a speech about monetary policies
(GATA is a US based group formed to combat the supression of gold prices by the cartel)
http://www.gata.org/taxonomy/term/2
