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Thursday, June 14, 2007

Whoo-Hoo

First quarter prime loans entering foreclosure hit all-time high.

Mortgage losses are beginning to show up on the books of financial firms.

PPI was a surprise at .9 for May, but if you look at crude good/import prices the picture looks a lot worse. Going through the tables shows that pricing can't be passed along to consumers, so profits are going to take a hit.

Import prices
are still rising and even accelerating.

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