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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (51668)	6/23/2009 2:07:29 PM
From: elmatador	Read Replies (1) \| Respond to of 217588

Brazil May Boost Foreign Currency Reserves To $300 Bln -Report SAO PAULO (Dow Jones)--The Brazilian government is studying a possible increase in its foreign currency reserves to $300 billion by next year, local newspaper Folha de Sao Paulo reported Tuesday. According to the report, citing an unnamed source at the Finance Ministry, the government may accelerate the purchase of dollars on the foreign exchange market, thus supporting the U.S. dollar and building reserves at the same time. Currently, Brazilian foreign exchange reserves are $206 billion. Reserves began to grow consistently after the Central Bank of Brazil started holding daily auctions to purchase dollars from the spot market in October 2005. Reserves stood at about $53.8 billion at the end of 2005. On Tuesday, the Brazilian real closed at BRL2.0255 a dollar, compared with BRL2.3130 to the dollar at the end of 2008. -By Rogerio Jelmayer, Dow Jones Newswires; 5511-2847-4521; rogerio.jelmayer@dowjones.com

To: TobagoJack who wrote (51668)	6/23/2009 9:37:45 PM
From: Maurice Winn	3 Recommendations Read Replies (1) \| Respond to of 217588

Speaking of residential and commercial real estate, to save you walking around, have a look at Reggie Middleton's report from Brooklyn. boombustblog.com I have seen such a thing once, which was Auckland in 1989 when we returned to find the skyline covered in cranes and for sale and for lease signs on vast numbers of commercial buildings. That was 18 months after the October crash which was bigger in NZ than anywhere. It took a decade to come right and that was only enabled because NZ is trivially insignificant compared with the global economy. When the global economy does what NZ did in the mid to late 1980s, there is no externality to lean on. In summary, Reggie shows swarms of large condo buildings with no customers and still under construction [most of them]. His point is that there are no customers [at any sort of price the investors were hoping for]. Mqurice