So far, there's little indication the financial crisis is subsiding.

The euro and British pound fell against the dollar, and money market rates climbed early Monday in Europe as banks hoarded cash.

The euro and British pound fell about 1 cent versus the dollar to $1.3610 and $1.7568, respectively, early Monday as traders sensed both the European Central Bank and Bank of England, along with national governments, will have to take monetary and policy actions to address the crisis.

The London interbank offered rate, or LIBOR -- the rate banks charge each other for overnight dollar loan, increased 37 basis points to 2.37%. The Euribor, a similar rate for the euro, rose 1 basis point to 5.35%, an all-time high.

Currency Trader Andrew Resnick told BloggingStocks Monday, currency, credit and stock markets in Europe all indicate the financial crisis will impact many of the economies in the euro zone.

"Germany's decision to guarantee all private German bank accounts kind of spooked the currency market, and drove the euro and pound lower. It's a good, defensive action, but it prompted people to ask 'how deep is the problem in Europe?'" Resnick said. "We're going to need more action to address the crisis from both the European Union and the central banks of Europe to boost liquidity."

Just call it an endorsement of a collective security policy where 'you go first.'

That was how one economist characterized the G-7 group of finance ministers' stance toward the U.S. Treasury Department's proposed $700 billion intervention to stabilize the financial system.

In a conference call statement, the G-7 - - Germany, the United Kingdom, France, Japan, Italy, Canada, along with the U.S. - - said, "We strongly welcome the extraordinary actions taken by the United States to enhance the stability of financial markets and address credit concerns, especially through its plan to implement a program to remove illiquid assets that are destabilizing financial institutions," The Wall Street Journal reported Monday(subscription required.)

However, none of the other six G-7 members will adopt a program similar to the U.S.'s, German Finance Minister Peer Steinbrueck told reporters in Berlin after the call, Bloomberg News reported Monday.

Economist Peter Dawson told BloggingStocks Monday the G-7's stance is half-hearted, in his interpretation. "In its general statement, the G-7 is on-board with the [U.S] Treasury's program but [German Finance Minister Peer] Steinbrueck's comments are disappointing. Steinbrueck, or another G-7 representative should have followed up with 'and we stand ready to assist the United States and other nations with fiscal measures to support the above goals, if needed, etc.,' " Dawson said. "Right now, the G-7's tone is 'go forth U.S., but we're not getting in the pool right now, the water's too cold.' Given the G-7's complicity in causing the problem and their systemic interest, a more-engaged statement should have been issued regarding fiscal policy options."

Cites AIG's 'interconnectedness'

For example, Dawson said the G-7's corporate involvement in American International Group's (NYSE: AIG) is evidence item 'A' for stronger G-7 involvement. "G-7 companies, banks, and institutional investors benefited from AIG's credit default swaps and related products, and would be hurt by a systemic failure. Since they are parties to the problem, they should also bear some of the costs of the reforms and bailout," Dawson said. "But right now their stance is 'Go ahead U.S. We back your spending your money, but not ours.' That's an inadequate response from our G-7 associates."

"While watching the Olympics, I couldn't thinking about the investment opportunities of the various countries participating in the games," says exchange-traded fund expert Carl Delfeld.

Recognizing that this is not a "scientific" approach nor a primary basis for seriously determining one's asset allocation the editor of Around the World with ETFs speculates, "While it is admittedly a stretch, let's consider what an ETF porfolio of the top ten countries in the Beijing Olympics medal count would look like."

"I hope that while watching the Olympic games many investors were also reminded at how the world is changing and why they need a global portfolio to capture value and growth around the world.

"The U.S. did remarkably well across the board underscoring its role as the world's leading investment destination. China surged to win the most gold and reach the symbolic level of 100 medals.

"Quite an achievement that punctuates China's growing heft. With the Shanghai Composite down 55% this year, it has come down to earth and is interesting from a valuation perspective.

"Next comes Russia with a performance fueled by a strong Olympian tradition and petro dollars but perhaps a bit overshadowed by the Georgian fiasco. I will take a pass on this one even though it is off 36% since just May.

One way investors/readers could characterize the current environment is as a world filled with concerns.

Concern about the U.S. housing sector. Concern about declining U.S. disposable income. Concerning about slowing GDP growth in Europe and Asia. Concern about the Yankees not winning the American League pennant.

O.K., that last item was a purely subjective, parochial one, but you get the point: there's concern that global economic conditions are worsening, not improving.

Europe's GDP is latest focal point

Further, while emerging markets in Asia, led by China and India, have been the growth story of the decade, the region really sending a chill up economists' -- business executives' -- spines is Europe, so says economist Glen Langan.

"Up through July we had seen weakness in Italy, Greece, Spain, and Portugal, and the investment community's response was one of 'no big deal, they are not the major growth regions, anyway,'" Langan said. "But now there's signs of slowing in Germany, France, and the United Kingdom, and nearly every demand-side indicator is in retreat. It's a pronounced psychological shift, no question."

The need to fulfill promises of increased aid for Africa, and a general agreement between the United States and Russia on an approach to Iran's nuclear program took center stage as leaders from the Group of Eight industrial nations met Monday in Japan, The Associated Press reported.

President Bush, attending his last summit as a sitting U.S. president, underscored the importance of providing aid for Africa, calling on wealthy nations to provide mosquito netting and other aid to prevent needless deaths, the AP reported.

Basic items - - even equipment as basic as mosquito netting - - can reduce mortality rates in sections of Africa. Mosquito netting prevents children and others from dieing of bites from disease-carrying mosquitoes.

In 2005 the G-8 pledged to increase global aid to $130 billion, and increase assistance to Africa to $50 billion. ONE, a nonpartisan group working to end extreme poverty, predicted that the U.S. and the United Kingdom will meet their commitments, while France, Italy, Germany and Canada are off the mark, Bloomberg News reported Monday.

Increased global food aid likely

Economist Glen Langan, whose specializations include agricultural economics, said increased aid for food and agricultural development will likely be announced by G-8 leaders at the summit, or soon thereafter, due to the rising cost of food's impact on poorer nations. "The aid will be targeted to meeting basic needs first, but with an eye toward directing some funds to self-sustaining agriculture," Langan said, adding that Africa "has the potential to achieve food production gains greater than South America."

American drivers, weighed-down by record-high gasoline prices, may have an unlikely ally as they seek policy responses to address the nation's current energy problems. The Associated Press reports that European drivers are joining them in fighting for lower energy costs

Drivers of private and commercial vehicles have staged protests and related demonstrations in France, Germany, Spain, and Portugal, among other European countries, as drivers deal with prices that have rocketed to the $8-10 per gallon range. In France, last week, more than 200 farmers and truck drivers blocked a fuel depot in Villette-de-Vienne, The New York Times reported.

The four-year rise in oil prices that has reduced U.S. disposable income has not exempted Europe. Given higher per gallon taxes across much of the continent, Europe may become the first major economic region in the world to see an average $10 per gallon gasoline price, if current trends continue. Taxes in Europe comprise 40-60% of the price of a gallon of gasoline, according to U.S. Energy Information Administration data; in the United States taxes account for about 12% of gasoline's retail price.

Could ECB President Jean-Claude Trichet be compelled to modify his legendary hawkish stance regarding inflation?

He might, if sentiment against the ECB inflation target continues to mount. Bloomberg News Tuesday quoted London-based Morgan Stanley co-chief economist Joachim Fels as concluding that the ECB's goal of lowering inflation below 2% as unachievable and not credible. "The ECB's keeping up a fiction," Fels said, adding that the ECB should adjust the target.

As part of an effort to jump-start a U.S. economy slowed to a crawl by the nation's worst housing recession in more than 15 years, and to prevent a global economic slowdown, the U.S. Federal Reserve has cut short-term interest rates by 325 basis points to 2% in the past year. Further, to stave off a potential regional and global slowdown, the Bank of England has cut its key rate three times to 5%.

Those business executives, economists, and investors/traders who had hoped G-7 economic leaders meeting in Washington over the weekend would take efforts to stem the U.S. dollar's decline may be left feeling slightly disappointed.

Finance chiefs from the G-7 notched-up their rhetoric on the dollar, but provided little substantial evidence they'll take actions -- monetary or fiscal -- to stem the dollar's slide, Bloomberg News reported Sunday night.

"We continue to monitor exchange markets closely, and cooperate as appropriate,'' the G-7 said, Bloomberg News reported, with U.S. Treasury Secretary Henry Paulson adding that the G-7 statement on currencies "reflects market developments and changes in the markets." The G-7 then pledged to implement further monetary and fiscal policies "as appropriate,'' without providing specific details.

No substantive action on dollar

Economist Peter Dawson told BloggingStocks Monday the G-7 statement by the United States, the United Kingdom, Germany, Japan, France, Italy, and Canada amounted to a statement against currency rate volatility, not a substantive effort to bolster the dollar. He added that G-7 representatives, in his interpretation, appeared more concerned about maintaining financial market liquidity due to the ongoing credit slump, than about the dollar's value.

Many investors use moving averages, and more specifically, moving average "crossovers," where one suddenly starts trading above or below the other, to try and gauge which way a market may be headed.

Among technical analysts, one combination has often been seen as a good pointer to prospective long-term trends.

The bullish version is called a "golden cross." That is when the price of a security rises above its short-term average (traditionally, the 50-day moving average), which is also above its long-term average (traditionally, the 200-day moving average).

Many investors might not immediately recognize the name Ingersoll-Rand (NYSE:IR) but most would recognize its products. Headquartered in Bermuda to take advantage of corporate tax savings, Ingersoll-Rand celebrated its 100th year anniversary of listing on the New York Stock Exchange in October 2006. In a recent interview in NYSE Magazine, CEO Herbert Henkel stated that Ingersoll-Rand reported revenues of well over $10 billion in 2006, with operating profits in excess of $1.5 billion. Profit margins are currently approximately 13.6%. Ingersoll-Rand has transformed itself from a supplier for construction and mining industries into a diversified industrial manufacturer in five business sectors.

1. Climate-control technology through its Thermo-King brand. Sales in this sector totaled $90-$100 million in 2006.

2. Compact vehicle technologies including Club golf carts.

3. Construction technologies, specifically the Bobcat skid-steer loader.

4. Industrial technologies, including fix-it services offered through its Hussman International unit. Fix-it service revenues accounts for 21% of total company revenue, just over $2 billion in 2006. CEO Henkel forecasts this sector will grow to over 30% of total company revenue within 5 years.

5. Security technologies, specifically its Schlage locks brand. This sector accounts for 20% of total company revenues.

Ingersoll-Rand is pursuing an ambitious strategy to expand into global emerging markets, especially India, China and Russia, where sales are forecast to grow 20-25% per year for the next few years. In India, Ingersoll-Rand has introduced Thermo King refrigeration units on trucks, thus helping to reduce fresh food harvest loss from 60% to 5%. Ingersoll-Rand is spending $175 million to build a manufacturing plant in the Czech Republic in order to expand in the southern Europe market. Ingersoll-Rand spent approximately $400 million in acquisitions in 2006, including security-device makers in India, China and Italy.

In the news recently, Swedish truck maker Volvo announced it agreed to buy Ingersoll-Rand's road construction equipment division for $1.3 billion. This would allow Volvo to expand its base of operations in the U.S. The Ingersoll-Rand division generated $850 million in revenue in 2006. Shares of Ingersoll-Rand stock closed unchanged on 6 March at $42.99.

Awww, dawg, it's straight-up whack! Wall Street has just totally "dissed" the company. Wait, is this the stocks blog? Sorry. I just got carried away with Jim Cramer's latest rant. He's discussing World Wrestling Entertainment, Inc. (NYSE: WWE), a stock was down for a while. Yet its yield is over 5%.

Cramer interviewed chairman and "third-generation promoter" Vince McMahon on video conference. Cramer asked about WWE's international prospects, and McMahon said that his company's entertainment may be the biggest US export. McMahon said national attendance was actually down at events but the international audience more than makes up for it. Cramer asked McMahon about two movies, McMahon said they have some downside protection and they keep their own intellectual products. He said Spain, Italy, Portugal, Philippines are all growing after recent launches. Cramer said that the future seems brighter than the past and Cramer thinks the dead-money past performance is about to change. He said you should even do a "Mo'm-Back" and buy it before this changes.

Oddly enough, Cramer didn't ask any guidance questions or real financial questions. Maybe that, too, would be whack. WWE traded up 3.2% today, so we'll have to see how it performs on Friday.