US Depression intensifies - Bank of America Corp., the biggest U.S. lender, faces a 10 percent jump in uncollectible loans to $7.6 billion
Sanla Pau Louiski
Jul. 6, 2009

Bank of America received $45 billion in U.S. rescue funds plus a U.S. guarantee of $118 billion in assets. But it may not be sufficient to continue the staggering losses for another year.

Bank of America Corp. is facing a 10 percent jump in bad loans to $7.6 billion as the bank reports second-quarter earnings. Credit Suisse says the bad loan amount is rising very fast.

Bank of AMeirca can survive because of increased reveue in trade-related revenue and banking fees. The trade-related revenue of $4.8 billion and investment banking fees of $1.4 billion are big pluses.

US Depression intensifies - Bank of America Corp., the biggest U.S. lender, faces a 10 percent jump in uncollectible loans to $7.6 billion
Sanla Pau Louiski
Bank of America received $45 billion in U.S. rescue funds plus a U.S. guarantee of $118 billion in assets. But it may not be sufficient to continue the staggering losses for another year.
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U.S. service industries from retailers to homebuilders contracted last month at the slowest pace last month
Peter Oberois
The trend is encouraging but the problem is that it is typical of bear markets and secular longterm economic depressions.
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Chinese economic boom is headed for gloom because it is now based on gains from property and stocks lacking domestic consumer growth
Sam Adelton
China has failed to promote domestic consumption to make up for weak global demand. China has failed to boost domestic consumption by increasing household income and not just through gains from property and stocks.
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India refueses to trust American dollar as the reserve currency – china and Russia push forward the alternative to American financial dominance
Praful Lodha
India is slowly expressing its deep concern over trusting American global financial leadership. India has now joined hands with Russia and China in looking for an alternate to American Dollar as the reserve currency.
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US Job report confirms depression and bear market
Peter Oberois
Employers cut a larger-than-expected 467,000 workers, driving the unemployment rate up to a 26-year high of 9.5 percent.
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US real estate markets in deep trouble - Mortgage applications in the U.S. falling very fast
Karen Zuba
This is very serious. The whole premises of Obama Administration is that refinancing and new loans will boost the real estate market which in turn will boost the overall economy.
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473,000 drop in the ADP Employer Services shows real trouble in US employment market – where will Dow be in the next six months?
Karen Zuba
What is the net impact on US equities? According to econometric and quantitative models, the stock market can tank 50% from the current levels in the enxt six to twelve months.
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Signs of severe bear market in US and global stocks imminent – the divergence in regional banks, homebuilders and of transportation companies
Peter Oberois
The bear market is live and well. It is ready to pound any time. Smaller banks in the lost 26 percent since climbing to a four-month peak in early May, while home builders tumbled 30 percent.
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