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[This is why the government MUST seize your gold...again!] Gold, silver, platinum and palladium may be the best-performing financial assets this year as inflation and slowing growth erode the value of the world's major currencies, bonds and stock
"I would say [expansion] is off for at least a couple of years until I see a light at the end of the tunnel," said Hernandez, who employs about 40 people. "I feel the environment in Arizona has become so anti-entrepreneurial. If I coul
Nobel economics laureate Joseph Stiglitz, author of a new book that claims the Iraq war will cost the U.S. more than $3 trillion, said the final tally is likely to climb much higher than that. "It's much more like five trillion. We were tryi
If we were to give up Iraq with the third largest oil reserves in the world to the control of an Al Qaida regime or to the control of Iran, don’t you think $200 a barrel oil would have a cost to the American economy?
The United Technologies Corporation made an unsolicited $3 billion bid for Diebold, one of the largest makers of automated teller and voting machines.
In recent months the undeclared war in Iraq seems not to have been on the minds of most Americans. News of the violence and deprivation which ordinary Iraqis are forced to deal with on a daily basis rarely makes it to the front pages. Instead, we rea
Mortgage foreclosure notices are going out so fast that in some states the number of new foreclosure proceedings each month is greater than the number of homes sold that month.
Total January General Fund revenue collections were $849.3 million, or (16.1)% below January of last year. This amount was $(226.2) million below the forecast based on the June enacted state budget.
Here’s why new home prices will be headed down for awhile– Inventory(195,000) is at level not seen in 35 years, and more houses keep on coming:
Simple explanation
On a monthly basis housing prices currently are dropping at a rate that when annualized will make even the most hardened real estate veterans' jaw drop. Phoenix -41.88%, Los Angeles -36.96%, Vegas -35%...
"The new status isn't how much you've got, but your ability to show what you don't spend," says futureist Watts Wacker, who advises businesses on trends.
In the final analysis the Fed undershoots, overshoots, and blows serial bubbles. It matters not whether this is by accident or by design. The end result is the same: wealth concentration in the hands of the banks....
Honeywell Aerospace said Wednesday that it is eliminating 420 manufacturing jobs at its north Phoenix facility and plans to move the jobs to Indonesia and Malaysia starting in the third quarter.
The US House voted to repeal $18 billion in tax breaks for big oil companies to help pay for developing renewable energy sources. The bill extends tax credits for producing energy from wind, solar, geothermal, cellulosic ethanol, biofuels and other r
Fannie Mae said it lost nearly $3.6 billion in the fourth quarter of 2007 as home-loan delinquencies mounted and the company preserved cash in anticipation of further losses. Shares of Fannie fell by more than 5%. The quarterly loss at Fannie, the la
Ben Bernanke signaled that the Federal Reserve is likely to cut interest rates again next month. The Fed has cut rates five times since last summer, taking rates down from 5.25% at the beginning of August to the current level of 3%.
Gasoline prices, which for months lagged the big run-up in the price of oil, are suddenly rising quickly, with some experts fearing they could hit $4 a gallon by spring. Diesel is hitting new records daily and oil closed at an all-time high on Tuesda
Over the last 45 years New Home Sales have never fallen off a cliff like they have over the past 48 months. This chart should wake people up to how severe and prolonged the recession could be.
Wells Fargo has named nearly every California county a “Severely Distressed Market” which requires LTV reductions of 5% for any conforming loan over 75% LTV and also eliminates financing over 75% LTV....
"For the first third of the year foreclosures were up 2,100 percent," Green said. "It's insane."
The housing report showed the median price of a new home decreased to $216,000 from $254,400 a year earlier.
The housing report showed the median price of a new home decreased to $216,000 from $254,400 a year earlier.
Oil prices broke through a new intraday high of $102 a barrel Wednesday as a slide in the U.S. dollar prompted investors to pump more money into energy futures as a hedge against inflation.
The potential economic fallout from housing may be far from over. That’s bad news for the economy at large. Once widely viewed as a well contained problem, economists are now worried that housing could stimulate a wide range of damage to the economy
As consumer and wholesale prices climb, home values continue to slump. House prices in 20 U.S. metropolitan areas fell in December by 9.1 percent from a year before, the most in the 20-year history of the S&P/Case-Shiller index, a private report show
The number of homes facing foreclosure jumped 57 percent in January compared to a year ago, with lenders increasingly forced to take possession of homes they couldn't unload at auctions, a mortgage research firm said.
No good news today on the economic front. Consumer confidence plunged, the wholesale inflation rate soared, the number of homes being foreclosed jumped, home prices fell sharply and a report predicts big increases in health care costs.
Sacramento's year-to-year 28.3 percent decline was the third-largest in the state, behind Santa Barbara County at 46.5 percent and North Santa Barbara County at 29.7 percent.
The quarterly drop in prices of existing single-family homes quickened to 5.4 percent in the final three months of last year from 1.8 percent drop in the third quarter, according to the S&P/Case-Shiller National Index....
