This is THE MOST POWERFUL expose I have ever heard on the Federal Reserve ->it will blow you away<-[ED] containing an amazing sermon given in Sept 2003 by Pastor Rod Parsley at Breakthrough Church in Columbus Ohio. This powerful presentation by Pasto
The cause of the current economic problems is very simple: Bad economics. Instead of closely examining the monetary theory that got us into this mess economists have started playing the blame game. Alan Greenspan blamed Wall Street irrational for mak
"I do not have historical data, [but] it would be reasonable to assume the percentage of REOs and SSs is unprecedented....
Bank of America Corp., the second- biggest U.S. bank, said it may not guarantee $38.1 billion of Countrywide Financial Corp.'s debt after taking over the mortgage lender, increasing the likelihood of a default.
Repeating what I said last month, virtually no one can possibly believe this data. The data is so bad, I doubt those at the BLS even believe it. But that is what their model says so that is what they report.
The Federal Reserve announced Friday that it will expand a series of efforts to deal with the global credit crisis, in coordination with European central banks. The Fed said it was boosting the amount of emergency reserves it supplies to U.S. banks
Economics professor: "If they stop lending us money, we’re going to have to repay that debt ourselves. We would either have to cut spending … or we’d have to raise taxes, or the United States government would have to go into default.”
Sprint Nextel Corp., the U.S. wireless company that lost more than a million contract customers last year, had its credit rating cut to junk by Standard & Poor's.
The chairman of the Federal Reserve has suggested that Congress revisit the issue of government subsidies to student loan providers. Recent student loan market problems stem from many causes, including cuts made in lender subsidies.
A Washington think tank is warning that housing prices are falling at an accelerating level, destroying wealth at a pace that will cost the average homeowner $85,000 in lost wealth this year alone.
General Motors Corp. reported a large first-quarter loss Wednesday, a net loss of $3.3 billion, or $5.74 per share. That was much wider than the $42 million, or 7 cents a share, loss from continuing operations it reported in the same period last year
Due to the sheer exotic nature of many ALT-A loans, such as the Pay Option ARM, the crisis will likely be that much more devastating. -Best, Mr Mortgage
Paying for gasoline easily tops the list of economic woes facing families in the United States, according to a survey on how changes in the economy have affected people's lives. [And food is harve$ted and tran$ported u$ing what? Ga$.]
Mish has included a print out of the CME Futures market for home prices in major markets across the country. The current betting on the Las Vegas market is for it to fall 46.3% from its peak in August 2006, and to hit bottom in November 2010.
A group of traders from around the country, united by a common determination to bring the illegalities committed by the Fed and the Treasury to light, converged on NYC on Friday, April 25 2008 to protest. Watch the fun!
But maybe not in the way you think. Check out the 2 companies coming to South Carolina... "Get ready for the incoming tsunami of trade...I want children in Orangeburg County to know that when they finish high school or college, they can stay at
What does this mean? It means the ’Months Supply’ figures released by NAR each month with the Existing Home Sales figures, which the press and market love to get so hot and bothered over, are highly suspect
Now that prices are falling, if Case-Shiller is a more accurate reflection of actual prices than OFHEO (as I believe), then the Fed might be underestimating the drag on consumer spending from falling prices.
The number was 112 percent above a year ago. Nevada, California and Arizona had the highest rates.
Setting aside farmland to produce biofuels like ethanol may be partly to blame for driving up world food prices, US Secretary of State Condoleezza Rice said Monday.
``I don't think we're anywhere near a bottom in housing,'' Broad told Bloomberg TV at the Milken Institute Conference. ``We're going to have a big inventory of unsold, unoccupied homes that's going to take three or four years
The Japanese, who own $586.6 billion, or 12% of US government debt, had their worst quarter in Treasuries this decade, losing 7% in the first 3 months of the year as the dollar fell to the lowest since 1995 versus the yen. Foreign investors recoil fr
The median price for an existing home in Monterey county was -46.22% when compared to the peak price two years ago. The High Desert was -37.09%, and Sacramento was -34.48%.
I don't want to alarm anybody, but maybe it's time for Americans to start stockpiling food. You've seen the TV footage of food riots in parts of the developing world. Yes, they're a long way away from the U.S. But most foodstuffs oper
"[The Fed] will be between a rock and hard place. And we're not over-worrying about credit. But [simultaneously], we need to start worrying about the real sector," he said.
Headlines notwithstanding, this was not a "bailout" in the most widely understood sense of the word. Bear Stearns lasted barely a full trading day between the Fed’s action and the announcement of the acquisition by JPMorgan at $2 (later rai
The Reuters/University of Michigan sentiment index decreased to 62.6, from 69.5 the previous month. The measure was down from a preliminary estimate of 63.2 issued on April 11.
Sales of new homes plunged in March to the lowest level in 16 1/2 years as housing slumped further at the start of the spring sales season. The median price of a new home in March compared to a year ago fell by the largest amount in nearly four decad
I don't want to alarm anybody, but maybe it's time for Americans to start stockpiling food. No, this is not a drill. You've seen the TV footage of food riots in parts of the developing world. Yes, they're a long way away from th
The price of oil is likely to hit 150 dollars (Canadian, US) a barrel by 2010 and soar to 225 dollars a barrel by 2012 as supply becomes increasingly tight, a Canadian bank said Thursday.