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Economy - Economics USA

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MISH: Global Economic Analysis

ECB emergency funding is tapped. Banana Republic charges were leveled at the US and UK. The US dollar is at all time lows. Short term commercial paper in Canada is frozen for 7 years. Commodity prices are soaring. Countrywide Financial is delaying th

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MISH: Global Economic Analysis

A pension fund is suing Moody's and the SEC is launching a conflict of interest investigation. The SEC wants to separate rating & advisory functions. But the real problem is the SEC's creation of a Nationally Recognized Statistical Rating Org

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MISH: Global Economic Analysis

Gary North wrote an article suggesting the Fed is deflating. Base Money was used for his claim as M2 and M3 are flawed measures that contain credit transactions. The distinction between printing and credit is paramount. But M2 and M3 are not useless

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www.thestreet.com

The binge of mindless mortgage (and other forms of) borrowing abetted by generous strangers and central bankers abroad, by legions of unscrupulous mortgage lenders in the U.S. who fed the machine of packagers of credit on Wall Street and, most import

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Mish Shedlock

Homebuilder SPF canceled its small dividend and announced a convertible debt offering that encouraged shorting. This is an act of pure desperation. Lennar reported a disastrous quarter with sales down 44%, more job cuts, and a loss per share of $3.25

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Dr. Housing Bubble

There is a great article that was published in the O.C. Register talking to a BofA analyst, Robert Lacoursiere discussing the future of the mortgage correction. The chart provided on the site provides a disturbing picture.

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There is a great article that was published in the O.C. Register talking to a BofA analyst, Robert Lacouriere discussing the future of the mortgage correction. The chart provided on the site provides a disturbing picture.

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Mish Shedlock

The "All Real Estate Is Local mantra died with a national housing bust so it's time for a new mantra: "All Recessions Are Local". Florida and Michigan are both in recession. California is headed there. Foreclosures are soaring and

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Mish Shedlock

GM workers went on strike after negotiations broke down over job security. GM and the UAW had reached tentative agreement over health care issues but GM refused to budge on other issues. GM management seems determined to break the UAW in a game of al

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MIsh Shedlock

One of the Fed's missions is price stability. It flunked. But it keeps adding more missions. China resorted to price controls. The Bank of England wants covert actions. These are signs of instability everywhere. The US of course has its own secre

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