Debt Trap Mass Exodus
• Michael Shedlock / MishThe Allure of no debt is compelling. The public has finally figured that out and a mass exodus from the debt trap has just begun. Psychology has changed and all attempts by Bernanke will fail....
Contents Pages by Subject
Economy - Economics USA
The Government We Choose for You
• Bloody Mary BreakfastWith the ouster of South African President Thabo Mbeki, three free-market fellows see hope for Ben Bernanke's model economy, Zimbabwe. [Heritage Foundation, AEI, and CATO see an opportunity for government intervention]
Arizona: Residential Bust Leading to CRE Bust
• CalculatedRisk.blogspot.comRetail sales, which rose 16 percent in 2006, are dropping. Dennis Hoffman, an economics professor at Arizona state University, said he had never seen such a sharp turnabout in 25 years....
Housing Bubble What's The Trouble?
• Michael Shedlock / MishWith 15.6 months of inventory, I sure am relieved to find out New Jersey home prices haven't crashed yet. Given that 38%-65% off simply isn't crash level, I am now figuring 85% off is the minimum....
Deal revives Chrysler output
• Detroit Free PressThe company has struggled financially because of the rising price of oil to make plastic. In 2006, Plastech, which has 7,700 employees, posted losses of $73 million, after recording a profit of $25 million in 2005.
Banks Put Stranglehold On Credit
• Michael Shedlock / MishIf lending standards loosen headed into a hurricane force consumer led recession, banks are fools.
U.S. Service Sector Slows Down; Stocks Plunge
• APLingering hopes that the U.S. economy might avert a recession withered Tuesday after the nation's service sector — its banks, travel companies, contractors and stores, among others — shrank for the first time in five years.
Sometimes You Have to Call it as You See It
• LiveLeakI'm sure this gets a chuckle, a "no kidding," and maybe even a honk before passing drivers tune back in to the All Brittney, All Day channel.
What the BLEEP do you know?
• www.youtube.comInformative video of exactly how the BORG operates. The Government steals the money first from you and borrows from the Bank at the same time, to give it to their Business buddies in the Military - Industrial complex ( who are the Neo - CONs) to fig
GMAC posts $724 Million Loss as Home Loans Sour
• Bloomberg.comProfit at GMAC's auto finance unit declined 77 percent to $137 million because of reduced gains from the sale of contracts signed with car buyers. Income at the insurance business dropped 91 percent...
GMAC posts $724 Million Loss as Home Loans Sour
• Bloomberg.comProfit at GMAC's auto finance unit declined 77 percent to $137 million because of reduced gains from the sale of contracts signed with car buyers. Income at the insurance business dropped 91 percent
Bubble Economy Endgame
• Michael Shedlock / MishIn the end, one factor alone is going to seal the fate. That factor is called the psychology of deflation. Simply put, the Fed can't force consumers or businesses to borrow or banks to lend.
CDO Ratings to Plunge
• Bloomberg.comRatings firms are responding to criticism that they failed to react quickly enough as rising defaults on subprime mortgages in the U.S. caused a plunge in the value of CDOs, securities that package other debt.
U.S. job losses raise recession worries
• Christain Science MonitorIn a worrisome sign, America's job market may be freezing up even in areas far removed from housing or mortgage loans. In January, stagnation in the economy's giant service sector helped cause the first monthly decline in jobs in over four ye
Bush Sends Congress $3.1 Trillion Budget With Big Increases for Defense
• FOX NewsPresident Bush sent the nation's first-ever $3 trillion budget proposal to Congress, contending that the spending blueprint will fulfill his chief responsibility to keep America safe. [PS: Bush was the first with a $2 trillion budget too. Nice le
Tax Rebates May be a "Roll of the Dice"
• Money.CNN.comWith the U.S. government getting ready to return $600 to individuals and $1,200 to couples as part of an economic stimulus plan, many analysts expect a jackpot payout for casinos....
Strong Evidence of Imminent Slump in CRE Investment
• CalculatedRisk.blogspot.comOf particular interest is the record increase in tighter lending standards for Commercial Real Estate (CRE) loans.
Fallout From U.S. Slowdown Hits Canada
• Michael Shedlock / MishIn spite of the supposition that "there has never been a better opportunity to purchase household furniture" it seems there is no profit in the liquidation business.
Overhang of LBO Debt
• Michael Shedlock / MishIt was changing attitudes that sunk home prices. Now attitudes are impacting LBOs in a major way. This is just the beginning of the unwinding of attitudes towards both consumption and risk.
Citigroup's Strange New Definition of "High Risk"
• Michael Shedlock / MishCREDIT card customers who pay off their balance each month are as much risk from being cut off by their lender as those that have lost control of their spiraling debts.
FT: Leveraged loan market in "disarray"
• Calculatedrisk.blogspot.com“The market is in total disarray,” said the head of debt capital markets at one major Wall Street firm. Another senior banker involved in the deal added: “The last 10 days have been the worst ever.
What Will You Do With Your Gold?
• Gary North via LewRockwell.comSo, trust me when I tell you that you will not sell your precious metals during the mania. In a mania, buyers think, "It will cost more tomorrow. I must buy today." Most would-be sellers think the same thing. They refuse to sell. Only a few
San Diego Real Estate: Short Sales Above 50% of the Market
• CalculatedRisk.blogspot.comI called one of the top agents in San Diego yesterday, and she told me that the housing market is steadily getting worse with the flood of REOs.
Phoenix Real Estate: It has not been this bad in a long time
• HousingDoom.comEven if sales manage to rise up to 3000, that still leaves Phoenix with 18 months of inventory on the market.
Phoenix Real Estate: It has not been this bad in a long time
• HousingDoom.comEven if sales manage to rise up to 3000, that still leaves Phoenix with 18 months of inventory on the market.
Jim Rogers on the Future of the U.S. Economy and China
• CommonSenseForecaster.blogspot.com"I'm extremely worried." He says. "I have been for a while, But I just see things getting much worse this time around than I expected." To Rogers, a longtime Fed Critic, Bernanke's decision to ride....
Google results leave Wall St. Shocked
• Telegraph.co.ukGoogle sparked fears that the slowdown in the mainstream US economy is trickling in to the new media economy after the internet giant disappointed investors with profits and sales below expectations.
Countrywide And Chase Shut Off The Cash Spigot
• Michael Shedlock / MishThe 70% rule will put a dead halt to MEW and HELOC extraction for nearly all of Los Angeles, Orange and Imperial counties. Anyone needing cash out financing to pay the bills in those counties is simply out of luck.
The Ron Paul Economy
• The NationThe little man who wasn't there at the Republican TV debates is Ron Paul, the short-of-stature libertarian physician and Congressman. The debate moderators, who are threatening to become the ruin of electoral politics in the United States, almost
Jobless Claims Spike, Spending Slows, More Rate Cuts Coming
• Michael Shedlock / MishBernanke now appears hell bent on matching Japan's ZIRP (Zero Interest Rate Policy) in a misguided attempt to prevent deflation, a deflation that I might add is badly needed.
Watch Streaming Broadcast Live:
LRN.fm
DLive
Live Chat
Telegram
Telegram
