In the news the dollar has hit an all time low against the euro, not that it has ever gone past the euro since it has been introduced in 2002 . For the first time in almost 30 years the dollar reached parity with the Canadian dollar. I know your'e thinking what does this have to do with me well for businesses that do business outside of the U.S. are being indirectly affected. The dollar was usually always stable but now recently htta has not been the case.African American CEO of Merril Lynch stepped down from his position Stan Oneil, on Oct 30,2007 because he had lost a tremendous amount during his tenure at the company.
As the subprime crisis of all the bad loans that were made in the recent years continues there are a number of forclosures on the market. Analyst say that these numbers will only grow as there are a number of interest only or ARM mortgages that are due to reset to their default rates. As of right now there are over 2 million homes that are on sale in the housing market. There are actually more homes for sale than needed. In other words demand is less than supply. So you know what that means. That means that homes prices are going to begin to fall in which they already are. Georgia has the highest rate of foreclosures in the U.S. why I really don't know but I will soon do some research to find out!
In the stock market as of Friday Nov 9,2007 it seems as if every one os in somekind of frantic selling off their stocks. Almost all of the bluechip stocks tumbled. Google for example started off on 2006 at about $200 Now it is at a whopping $663. On fri Google stock went down $29 thats ok I would put my money on them anyday they have proven time and time again that they are maximizing shareholder wealth. This is a good stock with potential as they are about to enter the mobil phone market sometime next year.
And China has banned all exports of the date rape drug tainted toys. Damn! It seems that every other weak there is something that they are recalling. As a kid growing up everything that I had that said Made In China on it seemed to be very cheap and of less quality. Now the low quality of all products made in China are finally coming to light! buy stuff that is made in America, China is sending crap quality products here in large quantities in a rush to get that money!
A word to the wise one good investment would be to go to the CNNMoney.com page and look up the IPO's For those that don't know what an IPO is It stands fro Initial Public Offering. It is when companies start going public and start selling shares of their company. Well Visa just hit the market check it out! new IPO's always start low and eventually of they are a good company then they will surely grow like Gogle for instance. Visa to me is a strong name to stand behind Check it out!!!!