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His warning that a strong wave of food inflation is heading towards the world economy was met by nods from agriculture traders, food industry executives and western’s government officials at the USDA’s annual Agricultural Outlook Forum.
The national average for self-serve, regular, unleaded gas was $3.1011 per gallon on February 22, up 15.88 cents from two weeks earlier, and up 75.24 cents from a year ago, tracking a rise in crude oil prices.
The attempt to blame the free market for this mess is galling. The blame lies with Congress, the Fed, and the SEC. If the Fed had not reduced interest rates to 1% and held them there, the bubble would never has gotten as big.
Warren Buffett, had warned years before that "derivatives," whose value was balanced loosely on the real assets underneath, were the equivalent of "financial weapons of mass destruction."
The Bush Administration was wrong about the benefits of the war and it was wrong about the costs of the war. The president and his advisers expected a quick, inexpensive conflict. Instead, we have a war that is costing more than anyone could have ima
Three communities in the southwest Valley top the devaluation list: Buckeye valuations plummeted nearly 25 percent, Avondale dropped nearly 22 percent and Goodyear fell 20 percent.
Three communities in the southwest Valley top the devaluation list: Buckeye valuations plummeted nearly 25 percent, Avondale dropped nearly 22 percent and Goodyear fell 20 percent.
Five months ago, the Ellicott City home was appraised at $560,000; the lender says it is now worth $469,000. "I told them, you guys are wrong," Nancy Corazzi said. "They said, 'sorry, this is what we're doing....
The proposal warns that up to $739 billion in mortgages are at "moderate to high risk" of defaulting over the next five years and that millions of families could lose their homes.
Vacant homes are a negative externality for the neighbors; from unkempt yards, mosquito infected pools, fire hazards, and trespassers squatting in the homes ( aka "bando", a homeless person living in....
GMAC lost $2.33 billion in 2007, hurt by a $4.35 billion loss at ResCap that reflected rising customer defaults, lower loan volume, and write-downs. ResCap is the largest independent U.S. mortgage lender after....
Not since the Depression has a larger share of Americans owed more on their homes than they are worth. With the collapse of the housing boom, nearly 8.8 million homeowners, or 10.3 percent are underwater.
Wallace points out that the market for the exotic financial instruments has leaped, by some measures, from $1trillion to $45 trillion - about twice the size of the entire United States stock market.
Nelson forecasts a likely surplus of 22 million large-lot homes (houses built on a sixth of an acre or more) by 2025—that’s roughly 40 percent of the large-lot homes in existence today.
One in nine homes in the city of 100,000 residents is either in foreclosure or in the preliminary stages. Many neighborhoods have homes with dying lawns and broken windows.
SalesTraq, a research company that tracks the Las Vegas housing market, reported Monday that 2,177 homes were repossessed in January, surpassing the 1,962 sales in the new and existing home markets.
(Bloomberg) -- Bill Gross, manager of the world's biggest bond fund, said the U.S. federal budget deficit will widen to as much as $800 billion during the next presidential administration.
Where is Spending Slowing? Nearly every consumer category we looked at in the survey scored lower than a year ago in terms of spending going forward – led by restaurant spending....
Hundreds of auctions have failed this month, sending borrowing costs as high as 20 percent because dealers from Goldman Sachs Group Inc. to Citigroup Inc.,stopped using their own capital to support the sales.
"The market is full of rumors of unwinding of CDOs, and the price action suggests that people believe the rumors, It sort of has that Armageddon feel, and the market is feeding on itself."
In a scene likely to be played out in states and municipalities nationwide, things are starting to implode in California at the state level, the county level, and the city level.
The US, however, is a debtor. It must keep the trust of foreigners. Should it fail to do so, the inflationary solution becomes probable. This is quite enough to explain why gold costs $920 an ounce.
Americans from Main Street to Wall Street may have to live with less debt. Banks and investors are now becoming much tougher when it comes to handing out credit...If this continues, economists see potential widespread ramifications for the economy:
The city of Vallejo is on the brink of becoming the first California city ever to declare bankruptcy, City Council members said Tuesday. Vallejo may run out of cash as early as March, council member Stephanie Gomes said. [the first domino]
Even with single family starts at the lowest level since the '91 recession, when you look at inventories and new home sales, the builders are still starting too many homes....
As such, these reported 16 percent declines in Southern California real estate prices are a mere down payment as to what is going to happen.
As such, these reported 16 percent declines in Southern California real estate prices are a mere down payment as to what is going to happen.
"I would tell audiences that we were facing not a bubble but a froth - lots of small, local bubbles that never grew to a scale that could threaten the health of the overall economy." Alan Greenspan, The Age of Turbulence. He was wrong.
Sara Lee Corp, the second-largest U.S. breadmaker, said it would raise bread prices during the April-June period, its fourth price increase in the past year and a half, as it copes with soaring wheat costs.
US banks have been quietly borrowing massive amounts of money from the Federal Reserve in recent weeks by using a new measure the Fed introduced two months ago to help ease the credit crunch.
