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Bitcoin Cash: $ USD
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If we stop attempting to bypass the creative destruction of capitalism, we will finally be able to bring about a recovery built on a solid foundation instead of the quicksand underlying the 2003-7"recovery"....
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In fact, real estate is quickly becoming the leper at the birthday party; everyone is staying away. That means that prices will fall -- and more rapidly than anyone imagined. The blood is in the water.
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The Chinese government's apparent rejection of a planned multi-billion-dollar investment in Citigroup Inc. by state-owned China Development Bank suggests there may be limits to Beijing's....
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Cash strapped consumers are increasingly turning to charge cards and home equity lines to support consumption. Some Debt Trends Are Good. This Isn’t One of Them. The trend towards treating credit card like ATMs is not going to end well for either the
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The percentage of option ARMs with payments behind by at least 60 days in California is in double digits in the Inland Empire, San Diego County, Santa Barbara County, Sacramento, Salinas and Modesto....
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"It's anarchy," said the chief executive of WSL Strategic Retail. "Americans cannot control the big things such as oil prices, falling home values, mortgage costs and rising property taxes, so they want to control the small things
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The Chicago Tribune is telling a story that's happening about 60 minutes from where I live, in booming Will County Illinois where miles and miles of cornfields were turned into miles and miles of houses. It had to end and so it did. Now many are
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The US is at risk of losing its top-notch triple-A credit rating within a decade unless it takes radical action to curb soaring healthcare and social security spending, Moody's, the credit rating agency, said yesterday.
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Furthermore, we can be 100% sure why home prices are falling: Psychology of lenders and borrowers changed dramatically and there is a mammoth supply of housing relative to demand.
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If prices decline an additional 10% in 2008, the number of homeowners with no equity will rise to 10.7 million.
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"The low purchase price suggests to us that Bank of America is being paid for taking risk in a deteriorating mortgage environment and that losses in Countrywide's mortgage book may be greater than we estimated," investment bank Morgan S
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Gold futures rose above $900 an ounce for the first time Friday, as high oil prices, a weak dollar and fears of a U.S. recession led uneasy investors to keep buying the precious metal. An ounce of gold for February delivery on the New York Mercantile
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Farm Wars
The U.S. is about to be flooded with Chinese textiles that are so cheap, that our local manufacturers simply will not be able to compete.
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For the Fed to admit the problems it did on Thursday is a further admission that things are going to get worse. It's risky to apply messages to any stock market action, but perhaps that is the message behind "the finger". Euphoria over
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That's how much Morgan Stanley Real Estate paid for an 80 percent stake in the 32 communities, 60 percent less than the price at which the properties were valued just two months earlier.
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"... and his whole captive form folded in the flag of Ahab, went down with his ship". He may not be dismasted by the Islamic whale, yet like his neo-conservative friends, he may spit his last breath at them.
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M1 has not grown one dollar since the Fed first eased the discount rate last summer and the YOY pace is running at 1.4%.
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Goldman Sachs on Wednesday said it expects the U.S. economy to drop into recession this year, prompting the Federal Reserve to slash benchmark lending rates to 2.5 percent by the third quarter.
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Still, when adjusted for inflation, gold remains far short of the jaw-dropping levels of 28 years ago. An ounce of gold at $875 in 1980 would be worth $2,115 to $2,200 today.
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The interest expense for December alone was a whopping $106 billion.
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U.S. consumers will pay record prices for gasoline this spring, with national monthly pump costs peaking near $3.50 per gallon when the busy driving season begins, the government's top energy forecasting agency said.
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Mr Bush convened the so-called Plunge Protection Team for its first known meeting in the Oval Office. The black arts unit - officially the President's Working Group on Financial Markets....
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"Central banking is perhaps the most brilliant scam ever perpetrated, and the U.S. Federal Reserve stands as the most successful of all central banks in history. The Fed is able to transfer wealth away from the people who earned it, and into the
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This Ponzi scheme of repetitive bubble blowing is imploding now. History shows that once confidence is lost in the Ponzi scheme by either the lenders or borrowers, it is all over. Well guess what: It's all over.
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"I hope by the end of this year all of my assets will be out of the U.S. dollar,'' Rogers said. "The dollar is a currency that's terribly flawed and it's going to be under duress for many years to come.''
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It's a safe bet that several of the companies above will go bankrupt or be taken into receivership. The amount of capital destroyed already has been immense.
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There was finally some dose of reality in the December jobs report. But as weak as the headline number was (and it was very weak), the details were even worse.
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NEW DELHI - In yet another troubling sign for the greenback, at least one of the seven wonders of the world is now off limits if you have only U.S. currency in your pocket.
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More steps by Congress and the Bush administration are likely needed to stabilize the imploding U.S. housing market, a senior White House official said, as more signs of distress appear. Early last month, President George W. Bush unveiled a plan t
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This past December, the United States settled a trade dispute with Canada, Europe, and Japan over the recently enacted Unlawful Internet Gambling Enforcement Act. The problem is that the law carves out exemptions for some forms of gambling, such as
