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Print enough money and boost the price level enough, and the insolvency problem goes away without the risks entailed by putting the government in the investment and commercial banking business.
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Defaults on privately insured U.S. mortgages rose 35 percent in November to a record, an industry report today showed, adding to evidence the U.S. housing slump is deepening.
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Losses arising from America’s housing recession could triple over the next few years and they represent the greatest threat to growth in the United States, one of the world’s leading economists has told The Times.
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A study was released today detailing the best and worst of economic news and indicators for 2007. A decidedly mixed bag, it has something for optimists and pessimists alike. Particularly, the pessimists.
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Professor Roubini says, "If you have a $200bn loss, that reduced your capital by $200bn, you have to reduce your lending by 10 times as much," he explains.
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SYDNEY (Reuters) - The dollar skidded to fresh lows on Monday as speculation of more U.S. interest rate cuts enhanced the euro's yield advantage, while the yen benefited from a reluctance to hold risky positions over the holidays.
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The problem for Citigroup and other lenders is that housing is just the first of the tsunamis that is going to hit shore. An implosion in commercial real estate, sharply rising unemployment....
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GAO says: "To close the fiscal gap under Baseline Extended would require action today equal to about a 23 percent increase in revenue or reduction in programmatic spending. . ."Under our Alternative simulation [much more realistic], waiting
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Citigroup is not considering asset sales because it wants to, it is so capital impaired that it is forced to. The same can be said for a reduction in force. 20,000 jobs (assuming the number is correct) is quite a lot. Where are those who are let go g
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On the heels of a December 28th, 2007 AP report that confirms Ron Paul's exclusion from the Fox News roundtable discussion of January 6th, 2008, the same kinds of energetic Ron Paul supporters who engineered the November 5th 2007 $4.3 million fun
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Consumer Survey on Payment Delinquencies Shows More Falling Behind What does the latest survey say, how accurate is it, and what are the implications looking ahead?
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Citigroup Inc., Goldman Sachs Group Inc., Morgan Stanley and JPMorgan Chase & Co. are offering discounts of as much as 10 cents on the dollar to clear a $231 billion backlog of high-yield bonds and loans. "The market can absorb all of these deal
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"It is our view that 2008 is probably going to be a very drastic year for the group,'' Barron, a senior research analyst at the Wayzata, Minnesota-based brokerage, said in an interview on Bloomberg Radio.
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This graph shows New Home Sales vs. Recessions for the last 35 years. This is what we call Cliff Diving!
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Sales of new homes plunged last month to their lowest level in more than 12 years, a grim testament to the problems plaguing the housing sector.
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One victim is Centro Properties Group, the fifth-largest owner of shopping centers in the U.S. The Australian real-estate company saw its share price fall by 90% in two days last week...
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Denmark Bank predicts Ron Paul presidency, U.S. depression Denmark based Saxo Bank predicts Ron Paul presidency in 2008. According to Pravda.Ru, the bank predicts Paul will be the next president and that the U.S. economy will plunge into a depress
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Right now the spread is indicating that the fear of default is very high. Higher than in August. And higher than after 911.
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After the peak in December 1989, prices in Los Angeles fell 41.4% over about 7 years, in real terms (adjusted for inflation). (Note: using the OFHEO series, real prices declined 34% in LA in the early '90s).
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Falling home values and rising property taxes in many parts of the country are generating the loudest complaints about property levies since the 1970s, forcing state and local officials to address the outcry even as the housing-market slump eats into
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Americans are falling behind on their credit card payments at an alarming rate, sending delinquencies and defaults surging by double-digit percentages in the last year and prompting warnings of worse to come.
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This is the commercial real estate domino effect. If one key player backs out of a commercial real estate development, then they all do: "Lowe's backed off, and then Kohl's ...
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A major real estate broker shut its door just days before Christmas, leaving 350 agents without a home, and about 20 salaried employees without a job.
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Fox Business News tees it up for Peter Schiff author of "Crash Proof", Yaron Brook from the Ayn Rand Institute, Victoria Barrett associate editor for Forbes Magazine, and Gary Kaltbaum of garyk.com.
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Americans are falling behind on their credit card payments at an alarming rate, sending delinquencies and defaults surging by double-digit percentages in the last year and prompting warnings of worse to come.
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A $1+ trillion mortgage loss number is possible if it becomes socially acceptable for the middle class to walk away from their upside down mortgages. And that doesn't include losses in CRE, corporate debt...
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After a slow and stumbling start, Washington is scrambling to try to prevent the unfolding mortgage crisis from pushing the country into recession during an election year. The government will need to do more to avert a financial disaster.
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Right now the spread is indicating that "fear" is very high
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By the early part of 2007, loans were sometimes made for 120% of a property's value. Who would be so crazy as to lend more than the property is worth. Anyone who believes in perpetual-motion-machines...
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Back in August, when the sale of Chrysler to Cerberus was closed, the investment banks were unable to sell $10 billion in debt and had to take the debt on their balance sheets.
