GeeknRolla ? Gowalla To Hire UK Team, Duedil Wins Startup Competition

This year's European startup conference GeeknRolla has become a platform for news, as startups launched and speakers broke news direct from the stage. Duedil, the business reputation startup, secured first prize in the startup competition, and an on-the-day announcement from DFJ Esprit that it would award the winner a �50,000 no strings investment in the form of a convertible note. This would convert into its next funding round at the price of the next round. That kind of announcement is more common in Silicon Valley, so to have the deal announced literally within a couple of hours of Duedil's pitch on stage was real news for a European event. Let's hope we see more of that kind of fast action in the rest of the year. They also won a crack at a year's worth of Windows Azure hosting, �5,000 in free legal advice form Orrick and free premium job advertisements for a year on CoderStack (normally �120 per ad per month). Not a bad result for a 3 minute pitch.

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Who You Gonna Call: 6 Phone Calls to Lower Your Monthly Bills & Expenses

I don’t like calling companies that supply my home services. Nor do I like pressing ten buttons just to get to the right machine and ten more to get to the right person. I don’t like getting put on hold, and I certainly don’t like being treated rudely by strangers when I’m the customer. However, [...]

Who You Gonna Call: 6 Phone Calls to Lower Your Monthly Bills & Expenses is a post from the Money Crashers personal finance blog.

Source: http://www.moneycrashers.com/phone-calls-lower-monthly-bills-payments/

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Mohamed El-Erian Explains The Simple Reason Why PIMCO Sold All Of Its US Treasuries

PIMCO's Mohamed El-Erian says his firm sold out of its U.S. treasury position because it has no idea who will be buying the investment at current prices after the end of QE2.

"Who will buy at these prices? If you can't identify a buyer, you don't want to own the investment," he said at today's Reuters Newsmaker event.

This clarifies a bit Bill Gross' earlier comments on the matter, where he said he didn't know who would be buying the investment after QE2.

El-Erian said PIMCO felt, "there was better value elsewhere," in other investments similar to treasuries.

He did caution that the problem with treasuries could escalate if the U.S. doesn't get its fiscal situation in order in three to four years.

Don't miss: The 8 shocks that could slam the global economy >

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See Also:

• Bill Gross: Without A Gigantic Reform Of Entitlements, America Will Default
• Nail This Chart On Your Wall To Remind You Who's Most Upset When The US Dollar Weakens

Source: http://feedproxy.google.com/~r/TheMoneyGame/~3/M9VetgK-RdY/el-erian-pimco-treasuries-2011-3

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May I Rent Your Lawn Mower? Sharing Meets Web 2.0

Fueled by the recession and environmental concern about waste, dozens of websites offer a scalable platform for renting or sharing goods across a community.

Something Is Technically Wrong With Twitter

Hey Erick, I have a question for Jack Dorsey. What's up with Twitter? As I'm sure you've noticed, Twitter is down (for some users), so in true TechCrunch tradition we need to celebrate the downtime with a post. Sorry, did we say downtime?

Source: http://feedproxy.google.com/~r/Techcrunch/~3/KmaXCLoHO5o/

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Early Irish Stress Test Details Show 3 Banks Need A Total Of $12.7 Billion

Results of Ireland's banking sector stress tests are being leaked, and it doesn't look good for Bank of Ireland.

Bank of Ireland will be in need of as much as €5 billion ($7 billion) in support, according to Bloomberg's Margaret Brennan.

She also says, citing another Bloomberg reporter Julie Hyman's twitter feed, that three banks overall will need support for a total of $12.7 billion.

The two other financial institutions are Irish Life and Permanent and EBS Building Society. The former needs €3 billion while the latter needs €1 billion, according to Bloomberg.

Don't miss: How Ireland got into this mess >

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See Also:

• Get Ready, Ireland's Banks Are Going To Need Another $39 Billion
• Shares In Irish Life Taken Off The Exchange As Government Takeover Looks Imminent
• ECB Prepares For The Worst, Loads Up Fund With More Than ?60 Billion To Support Ireland's Banks

Source: http://feedproxy.google.com/~r/TheMoneyGame/~3/WaS0G5rT5UQ/ireland-stress-test-preview-2011-3

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EverFi Acquires Online Course For Substance Abuse Prevention Outside The Classroom

Washington D.C.-based startup EverFi has acquired Outside The Classroom, the provider of the largest online alcohol prevention course AlcoholEdu. Founded in 2000, Outside The Classroom's online curriculum focuses on alcohol prevention in America?s youth. Its online products, AlcoholEdu for College and AlcoholEdu for High School, are used in hundreds of high schools and over five-hundred college campuses. More than 3 million students to date have taken AlcoholEdu.

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Starwood Preferred Guest Credit Card Review ? Travel Rewards Card from American Express

Among the frequent traveler community there is one credit card that has obtained almost mythical status, the Starwood Preferred Guest credit card from American Express. Let’s look at all the details of this card, and then you might understand why nearly all of the top collectors of frequent flyer miles use this card wherever it [...]

Starwood Preferred Guest Credit Card Review – Travel Rewards Card from American Express is a post from the Money Crashers personal finance blog.

Source: http://www.moneycrashers.com/starwood-preferred-guest-credit-card-review-amex/

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The Second Cluster Of Startups Ascend From AngelPad

Last August, we broke the news that a new startup incubator was about to launch that was run by seven ex-Googlers, AngelPad. By November, the initial class of eight startups were ready to launch. Today, barely four months later, class number two is ready to be unveiled. And this time there are thirteen of them. At this rate, to quote the best line in Jaws, they're "gonna need a bigger boat". The fact that the class was whittled down to even thirteen is impressive, as the AngelPad team had several hundred applications to go through this time, co-founder Thomas Korte tells us. And while many in the initial class also featured fellow ex-Googlers, this group is more diversified (though the Google blood still runs deep with a number of them).

Source: http://feedproxy.google.com/~r/Techcrunch/~3/dlNZDmF1ekU/

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Join Us On Twitter For a Chat About Millionaires, Friday March 25th at 4PM EST

How do millionaires get that much money? Where did they start? Do they even have that much cash, or is it all in assets? I’ve got a thousand questions I’d ask a millionaire if I had the chance and I’m sure you have some questions of your own, too. This Friday, we will be holding [...]

Join Us On Twitter For a Chat About Millionaires, Friday March 25th at 4PM EST is a post from the Money Crashers personal finance blog.

Source: http://www.moneycrashers.com/twitter-chat-and-chance-to-win/

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New Mint Tool Helps You Find Mortgage Savings

At Mint, we?ve always been committed to helping you pay off your debt and save more by showing you where your money goes and finding financial products with better terms for you; from credit cards to high-yield savings accounts. Now, we can even help you find a mortgage with a lower rate, thanks to the ...

Source: http://feedproxy.google.com/~r/MyMint/~3/P4mvCdZ41Co/

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Acer Releases Dual-Screen Iconia ?Touchbook?

It is rare to find a device that is both baffling and compelling. We've been talking about the Acer Iconia for a while now and this dual-screened tablet or "Touchbook" is now available and shipping in the US next month. It runs a Core i5 chip, Windows 7, and has two 14-inch screens made of high-strength Gorilla Glass that allow for typing, multi-touch, and gestures.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/xPYDgN0_cx4/

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Should You Invest in Japanese Funds?

We all sincerely hope for a quick Japanese recovery. But should you invest in Japan funds? Why that may not be such a good idea for the buy-and-hold investor.

New vs. Used Car ? 6 Benefits of Buying a Slightly Used Car for Cheap

Other than your home, your car might be the most expensive purchase that you ever make. I love nice cars, but I also try to manage my finances responsibly. As a result, I have reluctantly come to the conclusion that a new car is an unnecessary expense. Sure, you can find overpriced used cars and [...]

New vs. Used Car – 6 Benefits of Buying a Slightly Used Car for Cheap is a post from the Money Crashers personal finance blog.

Source: http://www.moneycrashers.com/benefits-of-buying-a-slightly-used-car/

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Google?s Android Bear-Hug Comes To LG: New LG/Nexus Tablets Coming Soon?

Every few months Google embraces another CE company. It began with HTC and G1, giving that manufacturer resources and manpower enough to produce a powerful entrant in the smartphone race. It continued with Motorola for the Droid and has cycled through to Samsung for a brief period. This bear hug essentially gives the manufacturer access to Google's engineers and pre-release code and leaves everyone else out in the street, waiting for a software update. Now Google has set its sights on LG and, if rumor is correct, it means a Nexus S tablet is on its way from LG running a pitch perfect version of Honeycomb. It also means that anyone with a 2.x Android Tablet, the Gal Tabs included, will be severely disappointed. Think of this action by Google as akin to training one athlete in a race to an Olympic level and then pitting her against amateurs. The amateurs could still win, but it's going to be tough.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/9UZ92ydk2uU/

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What Is a Fixed Income Annuity ? Definition, Pros and Cons

Have you been looking for a way to invest your money with relatively low risk, but with a higher return than the interest rates of CDs offered by banks and credit unions? Look no further than fixed annuities. For decades, fixed annuities have provided a secure form of savings for millions of conservative investors on [...]

What Is a Fixed Income Annuity – Definition, Pros and Cons is a post from the Money Crashers personal finance blog.

Source: http://www.moneycrashers.com/what-is-fixed-income-annuity-definition-pros-cons/

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GARY SHILLING: And Now House Prices Will Drop Another 20%

Last October, when everyone was jubilant about the housing "recovery," Gary Shilling of A. Gary Shilling & Co., predicted that house prices would fall another 20%.

In the five months since, house prices have resumed their decline. 

In his most recent research note, Gary sticks by his "20%" decline prediction.  We've included a summary and updated charts from his argument below.

(Gary is offering a special discount on his research service for Business Insider readers. To learn more, please visit Gary's web site or call 1-888-346-7444. Please mention Business Insider.)

Housing: Great Expectations vs. Reality

Last spring, many believed that not only was the housing collapse over but that a robust rebound was underway. Investors were crowding into foreclosed house sales and bidding up prices in California, often the bellwether state for new trends.

The tax credit of up to $8,000 for new homebuyers that expired in April spurred buyers and promised to kick-start housing activity nationwide. TheHomeAffordable Modification Program was trumpeted by the Administration to help 3 million to 4 million homeowners with underwater mortgages by paying lenders to reduce monthly payments to manageable size and then paying homeowners to continue to make those payments.

But then a funny—or not so funny—thing happened on the way to housing recovery...

Yes, with mortgage rates so low, houses look "cheap."

With low mortgage rates and collapsed house prices, the National Association of Realtors’ Housing Affordability Index has leaped to all-time highs.

But when you don't have a job, old measures of "affordability" no longer apply...

It’s also become clear that the NAR’s Housing Affordability Index in the earlier post-World War II years is not relevant to today’s conditions. Back then, unemployment rates were usually much lower than now (Chart 7, page 4) and the current threats of layoffs, wage and benefit cuts and being forced into part-time jobs were almost nonexistent. Who ventures into homeownership if he doesn’t know the size of his next paycheck or even if he’ll have one?

Also, with almost a quarter of all homeowners with mortgages under water with their mortgage principals exceeding the value of their houses, many can’t sell their existing abodes even if they wanted to buy other houses.

Unemployment is declining, but job growth has hardly been robust

Mortgages delinquent 30 days, many of which will probably end in foreclosure, have risen lately. They peaked in the first quarter of 2009 at 3.77%, then fell to 3.31% at the end of 2009, but have since risen to 3.51%, according to Tom Lawler.

He goes on to observe that 30-day delinquencies are linked to initial claims for unemployment insurance, which fell last year but subsequently leveled off and are now rising (Chart 15). Also, the delinquencies are rising as weak borrowers with modified loans again miss payments. Fitch Rating believes that 65% to 75% of mortgages modified under HAMP will redefault within 12 months.

View more at Business Insider

See Also:

• The World's 15 Biggest Economies And The Risks They Face
• The 10 Economic Risks Stoking Fear Around The World Right Now
• Here's Proof That February's Disastrous New Home Sales Number Was Just A Weather Issue

Source: http://feedproxy.google.com/~r/TheMoneyGame/~3/rU4K6HldLZg/gary-shilling-house-prices-2011-3

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Friends Don?t Let Friends Get Into Finance

After having been a tech executive for many years, I needed to take a break, and I wanted to give back to society. Duke University engineering dean Kristina Johnson gave me a great spiel about how the school?s Masters of Engineering Management program churns out great engineers, and how engineers solve the world?s problems. She said that I could make a big impact by teaching engineering students about the real world and encouraging them to become entrepreneurs. I felt so excited that I joined the university without even asking for a proper salary. That was in 2005. I was shocked?and upset?when the majority of my students became investment bankers or management consultants after they graduated. Hardly any became engineers. Why would they, when they had huge student loans, and Goldman Sachs was offering them twice as much as engineering companies did? So when the investment banks tanked in 2008, I cheered because engineering had become sexy again for engineering grads (read my BusinessWeek column). But thanks to the hundred-billion-dollar taxpayer bailouts, investment banks recovered and went back to their old, greedy ways. And they began offering even more money to engineering grads (and themselves).

Source: http://feedproxy.google.com/~r/Techcrunch/~3/Cz4Y1nAeH4I/

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Color?s Totally Public Photo Swapping Service Has A Public Office To Match

Stroll through downtown Palo Alto right now, and there's a chance you'll pass by one of the most buzzed-about startups in the Valley: Color, the new photo-swapping service that raised $41 million pre-launch and has been met with waves of hype and backlash. Color's office is pretty nondescript from the outside ? that is, until you notice the handwritten note that's hanging on the door. Color CEO Bill Nguyen, who sold Lala to Apple in 2009 before starting Color, has written a letter to passersby inviting them to come inside and check out the office�?�where they'll actually be able to submit ideas for the product. Here's the full text:

"What is Color? We are an open social network for your iPhone and Android.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/acGOJ9A28wo/

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RIM Buys Developer Of HTML5 Mobile App Testing Platform TinyHippos

Research In Motion has made another acquisition-mobile development company TinyHippos. In an announcement on both RIM's development blog and TinyHippos blog, the BlackBerry manufacturer said that it bought the Waterloo-based development team (RIM is also based in Waterloo) for their extensive experience in web and mobile widget/web development. Terms of the deal are not disclosed. TinyHippos develops Ripple, a multi-platform mobile environment emulator that runs in a web browser and is custom-tailored to HTML5 mobile application testing (we've embedded a demo video below). It essentially allows developers to "look under the hood" of mobile applications to see how the apps are performing in a variety of mobile environments.

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The Unofficial Problem Bank List Just Rose Again And Is Now At 985

Note: this is an unofficial list of Problem Banks compiled only from public sources.

Here is the unofficial problem bank list for Mar 25, 2011.

Changes and comments from surferdude808:

The Unofficial Problem Bank List continued to climb as the FDIC released its actions for February 2011. This week, there were eight additions and five removals, which leaves the list with 985 institutions with assets of $431.1 billion.

The removals include the failed The Bank of Commerce, Wood Dale, IL ($163 million); one action termination against First Bank, Williamstown, NJ ($212 million); and three sales to private investors by West Michigan Community Bank, Hudsonville, MI ($123 million); Treaty Oak Bank, Austin, TX ($110 million Ticker: TOAK); and Community State Bank, Austin, TX ($21 million).

Among the eight additions are Plumas Bank, Quincy, CA ($483 million Ticker: PLBC); Country Bank, Aledo, IL ($213 million); and First Financial Bank, Bessemer, AL ($205 million).

Other changes include the issuance of seven and termination of one Prompt Corrective Order. The FDIC terminated the PCA order against Seattle Bank, Seattle, WA and issued orders against The Village Bank, Saint George, UT ($209 million); First Heritage Bank, Snohomish, WA ($179 million); Summit Bank, Prescott, AZ ($81 million); and four subsidiaries of Capitol Bancorp (Ticker: CBCR): Michigan Commerce Bank, Ann Arbor, MI ($934 million); Bank of Las Vegas, Las Vegas, NV ($375 million); Sunrise Bank of Arizona, Phoenix, AZ ($353 million); and Central Arizona Bank, Casa Grande, AZ ($76 million). Perhaps the FDIC is moving from forbearing to closure on Capitol Bancorp. Surprisingly, the FDIC has not enforced cross guaranty against Capital Bancorp when their subsidiaries have failed and they have allowed them to sell-off 12 subsidiaries.

With the passage of another quarter, it is time to update the transition matrix. The Unofficial Problem Bank List debuted on August 7, 2009 with 389 institutions with assets of $276.3 billion (see table). Over the past 19 months, 176 institutions have been removed from the original list with 120 due to failure, 40 due to action termination, and 16 due to unassisted merger. Almost 31 percent of the 389 institutions on the original list have failed, which is substantially higher than the 12 percent figure usually cited by the media as the failure rate for institutions on the FDIC Problem Bank List. Failed bank assets have totaled $166.6 billion or 60 percent of the $276.3 billion on the original list.

Since the publication of the original list, another 940 institutions have been added. However, only 772 of those 940 additions remain on the current list as 168 institutions have been removed in the interim. Of the 168 interim removals, 119 were due to failure, 32 were due to unassisted merger, 15 from action termination, and two from voluntary liquidation. In total, 1,329 institutions have made an appearance on the Unofficial Problem Bank List and 239 or 18.0 percent have failed. Of the 344 total removals, failure is the primary form of exit (239 or 69.5 percent) while only 55 or 16.0 percent have been rehabilitated. The average asset size of removals because of failure is $1.04 billion. Currently, the average asset size of institutions on the current list is $438 million versus $710 million on the original list.

 

Unofficial Problem Bank List
Change Summary
		Number of Institutions	Assets ($Thousands)
Start (8/7/2009)		389	276,313,429
Subtractions
	Action Terminated	40	(5,853,210)
	Unassisted Merger	16	(2,478,895)
	Voluntary Liquidation	0	-
	Failures	120	(166,633,042)
	Asset Change		(16,154,143)
Still on List at 7/02/2010		213	85,194,139
Additions		772	345,874,340
End (12/31/2010)		985	431,068,479
Interperiod Deletions1
	Action Terminated	15	15,245,458
	Unassisted Merger	32	26,763,786
	Voluntary Liquidation	2	833,567
	Failures	119	81,716,210
	Total	168	124,559,021
1Institution not on 8/7/2009 or 3/25/2011 list but appeared on a list between these dates.

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See Also:

• The "Birthday House" Scenario That's Crushing American Homeowners
• Fed Gov. Richard Fisher Sees Signs Of "Speculative Excess," Warns Of Intoxication On Ambrosia Of Cheap Capital
• No Signs Of Recovery For The U.S. Housing Market

Source: http://feedproxy.google.com/~r/TheMoneyGame/~3/2FjcVzY9Sgk/unofficial-problem-bank-list-march-2011-3

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Now You Can Shop For Shoes From Anywhere With The Zappos Android App

There is no doubt that mobile commerce is heating up. The market is expected to be a multi-billion dollar sector in 2011 and eBay, Amazon and many other online retailers are launching designated apps for smartphone platforms. Zappos has furthered its footprint in m-commerce with the launch of an Android app. Similar to the online retailer's iPhone and iPad apps, you can search, browse, read reviews, share, and buy shoes, handbags, clothing, jewelry and more via the app. Purchasers get the same benefits of shopping on Zappos.com, including a 365-day return policy and 24-7 customer support. Of course, Zappos is known for its customer service and has a dedicated team covering support for mobile sales.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/oCMYIAEL_Oc/

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Search Is Google?s Castle, Everything Else Is A Moat

Google is moving in many directions?mobile, browsers, productivity apps, operating systems, social. At first glance, it may seem like it is trying ever so hard to move beyond its giant one-trick pony: search. What people keep forgetting is that it is a pretty good trick. Benchmark Capital VC Bill Gurley reminds us how good this trick is in an excellent post that looks at Google's market expansion strategy not as one of a series of aggressive offensives, but rather a highly defensive strategy. Warren Buffet famously describes the best businesses as "economic castles protected by unbreachable ?moats.?" Search is Google's economic castle (perhaps with other forms of online advertising such as display thrown in there), and everything else is a moat trying to protect that castle. Android is a moat. The Chrome browser is a moat. The Chrome OS is a moat. Google Apps is a moat. These are all free products, subsidized by search profits, that are intended to protect the economic castle that is search.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/lscHk0Hpzwc/

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THE MARKET'S RISE CONTINUES: Here's What You Need To Know (SPY, ORCL, RIMM)

The market continued to rise today, disregarding the weak consumer sentiment number and various crises around the world.

First, the scoreboard:

• Dow up 0.41%
• NASDAQ up 0.24%
• S&P 500 up 0.32%

Now, the headlines:

• Overnight in Asia, markets performed well, with the Nikkei and Hang Seng up over 1%. The situation at Fukushima seemed to worsen, as authorities reported increasing radiation fears and widened their evacuation zone.

• European markets were barely in the green, after few surprises from the European Union conference. German Chancellor Angela Merkel did force a reduction in the initial capital for the region's new bailout fund. German banks' significant exposure to Ireland's banks was also revealed. 

• Overnight, strong earnings out of Oracle gave the U.S. market the impetus to open higher. A weak report out of RIMM was largely ignored by the market, though its shares were down over 11%.

• The earnings news was followed on by an as expected GDP report, and a weaker than expected consumer sentiment number. Data in the consumer sentiment report indicated that rising oil prices are starting to get consumers worried about inflation.

• The early afternoon saw the wires battered with a series of comments from Fed leaders, the most notable from Philadelphia President Charles Plosser. His plan for the Fed to move away from policy stimulus involves raising rates to 2.5% over a 12 months. These and other hawkish comments sent gold lower and the dollar higher.

• Protests continued in earnest throughout the Middle East, with Syria the hottest locale today. Pro-regime protesters attacked Al-Jazeera for showing footage of the slaughter of protesters by the government.

• Don't miss: 15 facts about Starbucks that will blow your mind >

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See Also:

• ANOTHER BLOCKBUSTER DAY FOR STOCKS: Here's What You Need To Know
• MARKETS GO NOWHERE ON DAY WHEN NOTHING HAPPENS: Here's What You Need To Know
• ANOTHER GREAT DAY FOR STOCKS: Here's What You Need To Know

Source: http://feedproxy.google.com/~r/TheMoneyGame/~3/-5843CPXe0o/closing-bell-march-25-2011-3

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HOWARD DAVIDOWITZ: We're At The Edge Of A Dollar Crisis, The DOW Could Fall 6,000 Points

There's a distinct possibility the U.S. stock market could plunge as much as 6,000 points if the U.S. continues to rack up record amounts of debt, causing the dollar to lose its reserve currency status, says Daily Ticker favorite Howard Davidowitz. (See video below)

"The dollar has never been at greater risk," he tells Henry in the accompanying clip. Davidowitz is confident that if Washington doesn't cool its spending habits, interest rates will spike and inflation will soar. Look at the value of the dollar, and the crisis is already brewing, with foreigners and sovereign nations diversifying away from dollar-denominated assets, he says.

What's an investor to do in this scenario?

Buy hard assets, he suggests. Davidowitz says investors should own physical gold, silver and diamonds. He also thinks land is a winning bet, even suggesting young adults buy and work farmland. "I think investment in farmland with water on it is a great investment. Finance will be less important," in the future, he says.

Admittedly, Davidowitz missed the V-shaped recovery in stocks. However, he was not invested in stocks ahead of the crash. Instead, he bought high-yielding bonds three years ago. He's now diversifying out of that trade, worried about higher interest rates. The bonds he does own are short-term corporates. And, he does own some dividend-paying blue-chip stocks.

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See Also:

• HOWARD DAVIDOWITZ: Obama Doesn't Have A Clue -- Here's How I Would Fix The Country If I Were President
• STOP THE DENIAL: Inflation Is Accelerating, Consumers Are Getting Squeezed
• KRUGMAN: See? Keynes And I Were Right. Austerity Is A Terrible Idea

Source: http://feedproxy.google.com/~r/TheMoneyGame/~3/vvy1eVgwjZY/howard-davidowitz-dollar-crisis-dow-6000

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