A banking system in crisis after the collapse of a housing bubble. An economy hemorrhaging jobs. A market-oriented government struggling to stem the panic. Sound familiar? 

It does to Sweden. The country was so far in the hole in 1992 — after years of imprudent regulation, short-sighted economic policy and the end of its property boom — that its banking system was, for all practical purposes, insolvent.

But Sweden took a different course than the one now being proposed by the United States Treasury. And Swedish officials say there are lessons from their own nightmare that Washington may be missing.

Read Carter Dougherty's full report in his NY Times article on "Stopping A Financial Crisis, The Swedish Way."

You may want to take a look at the 2008 Annual Outlook published by the Wachovia Economics Group in December 2007.  The report forecasts "The outlook for the national economy continues to depend upon how well the consumer navigates through four major headwinds: the housing slump, rising energy costs, a tightening credit environment, and a weakening job market."

I am certain that Wachovia didn't have a lock on an economic crystal ball.  So, how did we get caught with our proverbial pants down?

You can download it here in pdf format.  

 

With America on the verge of financial crisis, people are thinking seriously about pulling their deposits out of their local banks.  Most of us think the term "deposits" mean funds that you deliver to the bank for safekeeping, but for nearly 200 years, the courts have sanctioned an interpretation of the term "deposits" to mean a loan to your bank.

Combine that fact with the latest headlines you’re reading about big name banks needing bailouts and you have a rude awakening of just how unsafe your bank may be.

Get expert, informed, and independent information on what you can do to protect your money, right now.

Elliott Wave International, the world’s largest market forecasting firm, has just released a free report, Discover the Top 100 Safest U.S. Banks.

• - The Top 100 Safest U.S. banks (two for each state)
• - How you can choose a safe bank.
• - Five incredibly risky banking conditions.
• - How even the FDIC can't really guarantee your money.
• - Tips on international safe banking.

I just put a Squidoo lens up for folks to document their Forex scam experiences. 

The page is called "How To Lose All Your Money in the Forex Market" and it was a lot of fun putting it together.   

Check it out if you get a chance and add your horror story.  

By the way, there's also a poll where you can vote for the "Worst Person in the Forex World."

Click here to visit my Squidoo lens. 

 

I watched "History's Hidden Engine" (twice) over the weekend and was totally captivated by its implications. The film is the result of more than three years of research and creativity by filmmaker David Edmond Moore. Moore traveled to North America to capture the insights of 17 brilliant minds, then wove them into this film. In just 59 minutes and with the help of pop songs, news footage and cultural images, this documentary shows how social mood drives trends in movies, music, fashion, finance, economics, politics, the media, war and more.

The film begins by revealing an interesting correlation between trends in fashion, movies, and music and economic trends in the stock market. It concludes by shedding eye-opening light on Elliott Wave principles, Fibonacci theory, fractals and herding - all subject areas which experienced traders know affect trading.

"History's Hidden Engine" is 59 minutes long but I think it is well worth spending an hour to gain a unique perspective that might help you improve your trading.

The film is available through the Socionomics Institute and you can watch it for free on their website.