Goldman's Complete Economic Outlook From Now Through 2012

Ominous Bear Flag Pattern Suggests S&P 500 At 1,000

Talk of a possible Greek debt default grew louder as the day wore on Friday, with several euro zone officials commenting that they expect a default over the weekend. Naturally, the markets didn’t respond positively to the news. Combine that with the terror alerts in New York City and Washington, D.C., this weekend for the [...]

Source: http://www.forbes.com/sites/greatspeculations/2011/09/09/ominous-bear-flag-pattern-portends-sp-500-at-1000/

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Google To Hit $600 Again As Product Shake Up Signals CultureShift

With a new hardware business and litigation problems to deal with, the company might not be as encouraged to foster innovation and non-conformism as it has in the past. We currently have a price estimate near $600 for Google stock, which is roughly 10% above the current market price.

Source: http://www.forbes.com/sites/greatspeculations/2011/09/09/google-to-hit-600-again-as-product-shake-up-signals-cultureshift/

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Remembering The Wall Street Employees Killed On 9/11


9/11 new yorker cover

The terrorist attack on New York ten years ago today impacted financial companies harder than most.

Some, like Oppenheimer Funds, escaped unscathed through the blind luck of being located on a lower floor.

Most, however, lost beloved employees.

CNNMoney put together a firm-by-firm analysis of the impact.

Lehman Brothers

Victims: 1

Bank of America

Victims: 3

IQ Financial Systems

Victims: 4

See the rest of the story at Business Insider

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Source: http://feedproxy.google.com/~r/businessinsider/~3/tS0H0gAP1WU/twin-towers-financial-firms-2011-9

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What We Just Learned About Facebook's Secret Music Project


katy perry at facebook 400

We still know next to nothing about Facebook's new music service, beyond that it will partner with Spotify, MOG, and Rdio to make it happen.

Facebook is expected to unveil the music service at its f8 conference on September 22.

TechCrunch has dug up a few new details:

You'll be able to "scrobble" songs, meaning tracks you listen to will automatically be added to your profile.

There will be seamless integration between the different music services. If you see a playlist or track posted from one service, you'll be able to click and play it in your own. That means it won't matter if you're a Spotify, MOG, or Rdio user.

Read more details on TechCrunch >

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Join the conversation about this story »

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Source: http://feedproxy.google.com/~r/businessinsider/~3/eDSSygOtdUM/facebook-music-scrobbling-2011-9

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The Decade After

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After the Sept. 11 attacks, Osama bin Laden vowed to bleed "America to the point of bankruptcy, Allah willing." If that was the plan, it didn't work. The years immediately following the attacks barely showed a blip of stagnation. A year out, unemployment was a calm 5.7%. Gross domestic product rose swiftly, as did consumer spending. Stocks regained pre-crisis levels within two months. Above all, the human toll of the nearly 3,000 who perished was unspeakable. And the cost of two ensuing wars is in the trillions. But in terms of our ability to innovate, produce, and achieve, bin Laden's goal of bleeding the nation bankrupt never stood a chance.  

Still, 9/11 changed how people think, particularly about risk. Here are a few lessons I've thought about lately.

There's a history of things that never happened
Hours after Pearl Harbor was attacked in 1941, the U.S. military planted mines in San Francisco Bay. Trenches were dug along the West Coast. President Roosevelt allegedly discussed a land invasion reaching as far inland as Chicago. The thought that Japan would follow up with an even greater attack on the mainland wasn't if, but when.

A similar attitude prevailed after 9/11. Everyone from policymakers to intelligence officials to lay Americans warned that an impending second attack was nearly certain. The media even gave it a name: The Age of Terror.

Save for the anthrax episode, we've so far avoided it in America -- and thank goodness.

Looking back, there's something to be said about feelings of inevitability that never come to pass. The fact that we experienced a terrorist attack that no one expected, and then avoided one that everyone did expect, is a strong lesson in how unpredictable the future is.

Emotion trumps rationality
In the year after 9/11, air travel fell and car travel jumped. Understandably, people suddenly thought planes were more dangerous than cars.

But statistically, the opposite is true. German professor Gerd Gigerenzer estimates that the increase in automobile travel in the year after 9/11 resulted in 1,595 more traffic fatalities than would have otherwise occurred. In other words, more than half as many people died attempting to avoid another 9/11 than died in the actual attack. Add in the impact that stress had on our health, and the reaction to 9/11 may have been more deadly than the attack itself. "People jump from the frying pan into the fire," Gigerenzer said.

In his book The Science of Fear, Daniel Gardner takes it a step further. He notes that if there were a 9/11 every month for an entire year, the odds that you'd be killed by terrorists are one in 7,750. By comparison, the annual odds of dying in a traffic accident are one in 6,498.

There's an important lesson about risk in there that can apply to other sides of your life, including investing. Like those reacting to the fear of another terrorist attack, investors seeking to avoid perceived risk often put themselves in greater actual risk. In the 1980s, those who bought gold in an attempt to safeguard and preserve their assets from inflation ended up losing the vast majority of their money. While attempting to protect their wealth, untold amounts have been lost by those cashing out when markets sink, only to miss the rebound that invariably follows. Risk can be an ironic foe.

"History doesn't crawl; it leaps."
Nassim Taleb made this point in his book The Black Swan. Societies "go from fracture to fracture, with a few vibrations in between," he wrote. "Yet we like to believe in the predictable, small incremental progression." This is the basis of Taleb's black swans: The unexpected shapes our lives in ways that the expected can't fathom.  

I've spent some time digging through archives in search of a 10-year economic forecast that fared accurate in hindsight -- or was accurate for the right reasons. No luck yet. In 1980, many worried that the world would soon run out of oil. Very few predicted the looming collapse of the Soviet Union. In 1990, most thought the housing slump resigned the economy to mediocrity. Almost none predicted an impending Internet boom. In 2000, most predicted that the national debt would be paid off within a decade. None knew Lehman Brothers would go bankrupt. None knew that a group of terrorists was plotting to strike America.

Most of what was expected to shape the past 30 years never happened, and what did shape the past 30 years was never expected. That's how it's always been, and the same will be true going forward. The events that will have the greatest impact on the next 30 years simply cannot be predicted today, will hit quickly, and will come out of nowhere. Sept. 11 reinforced that point. History doesn't crawl; it leaps.

Onward
The day after the attacks, Motley Fool co-founder David Gardner penned an article titled "The Day After." "I heard many say on Tuesday, 'The world will be forever changed,'" he wrote. "No more this. No more that. I certainly hope not. But this Wednesday morning I hear even more saying: 'Let's show them the spirit of America. Business as usual. If you stop doing, acting, creating, you've done just what the terrorists would like.'"

Sept. 11 did forever change the world. It took almost 3,000 Americans. It changed how we think. It changed how we plan. But it did not, as David wrote 10 years ago, stop us from doing, acting, and creating. Pause today to remember and honor the victims of the attack -- and the enduring spirit of America.

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Source: http://www.fool.com/investing/general/2011/09/11/the-decade-after.aspx

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Are You Thinking ?I Need a Loan??

Times are tough all over and if you are one of the many people that are telling yourself, ?I must get financial help to get through this,? you are not alone. When money is tight and you are stuck between a rock and a hard place, you do have several options that will hopefully be [...]

Source: http://www.legaldebthelponline.com/2011/09/10/are-you-thinking-%e2%80%9ci-need-a-loan%e2%80%9d/

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Why Choose Financial Coaching?

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It is not a rare thing for someone to have trouble with their finances, especially in today's uncertain economy. Some people's debt has even gotten so out of control that they are almost drowning in it.

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Source: http://ezinearticles.com/6544079

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Poor Credit Consolidation - Can Improve Your Credit Rating

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Is it that poor credit is an issue for you? Bringing together your current debts with a consolidation loan will supply a good deal more than just saving you cash every month.

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Source: http://ezinearticles.com/6539189

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