Countrywide Taps Into $11.5 Billion Credit Line
Countrywide (CFC) taps into $11.5 Billion credit line, see http://biz.yahoo.com/rb/070816/countrywide_liquidity.html?.v=11. CFC has plumbed new lows since today's first post, and, is making a market rally difficult right now.
Gold is down more than -$20 and silver is down -$1.38 right now. Welcome to deflation. Many of the incredibly clueless gold writers who are always bullish thought the mortgage/credit crisis was good for gold. The inflationary real estate/mortgage/credit boom from 2002 through 2005 was good for gold. This bust is obviously deflationary, which is bearish for gold. It's pretty basic that gold is a hedge against/does well in inflationary economic cycles.
....... http://www.JoeFRocks.com/ .
Gold is down more than -$20 and silver is down -$1.38 right now. Welcome to deflation. Many of the incredibly clueless gold writers who are always bullish thought the mortgage/credit crisis was good for gold. The inflationary real estate/mortgage/credit boom from 2002 through 2005 was good for gold. This bust is obviously deflationary, which is bearish for gold. It's pretty basic that gold is a hedge against/does well in inflationary economic cycles.
....... http://www.JoeFRocks.com/ .
Labels: Gold, Gold Stocks, HUI, NEM, Silver, Silver Stocks, SPX, XAU
posted by Joe Ferrazzano at
9:20 AM
