Commercial real estate sales volumes were down 75-80% in March, by both count and dollar volume, compared to their levels a year earlier.
“...forces that enabled and even egged on consumers to save less and spend more — easy credit and skyrocketing asset values — could be permanently altered [!] by the financial crisis that spun the economy into recession.” (May 9, 2009)
As Governor Schwarzenegger was in the Rose Garden basking in the Obama glow of new auto emission and fuel mileage standards, the voters of California were rejecting his proposals to "solve" the California economic crisis. It is the end of
But regulators worry that banks trying to get out of TARP are overestimating their prospects and could be forced to return for more money if the economy falls off a cliff.
The Obama administration is considering creation of a regulatory commission to protect consumers of financial products such as credit cards and mortgages. There was a discussion of the proposal at a dinner at the Treasury Department attended by Treas
Rodney Ringler is an unemployed blue collar male without a college degree. He's hardly alone. Men like him have been the main victims of the current recession in the United States.
Click on any county to get a real picture of the US economy.
Nonsense from Alan Blinder & Mike Norman, YouTube clips of Congressman Alan Grayson (a long-time Euro Pacific Capital client) grilling Fed officials, and victory for capitalism in India.
Many of CFP’s readers probably have felt what I am now feeling. Something just seems fundamentally wrong, and it’s unnerving.
The WSJ analysis showed that about two-thirds of the banks, under the "more adverse" scenario, will be below the "level considered comfortable by regulators" without raising additional capital.
Banks that have not taken bailout money are sound, secure, and have practiced safe lending practices all along. They are well capitalized and have very little exposure to the sub-prime mess. As of last count, there have been 555 banks in the United
Our trust should be in princes. After all, Austin Goolsbee, an economic adviser to the president, assures us that Obama will be on the lookout for both bubbles and busts.
Now that earnings season is all but over, Ron looks at a few charts that are revealing of the extent of the damage done to corporate profitability. It is, in a word, breathtaking:
Unless the system is cleaned out of losses, "the way communism collapsed, capitalism will collapse."
"Our nation's system of retirement security is imperiled, headed for a serious train wreck. That wreck is not merely waiting to happen; we are running on a dangerous track that is leading directly to a serious crash that will disable major p
This Stock of the Day chart does so, showing just how unprecedented the profit destruction has been:
Cards issued by retail stores or banks - law-enforcement officials prefer to call them "stored-value cards" - can bring hundreds of thousands of dollars across borders. Difficult to track and often unreadable by law enforcement, the cards a
The total collapse of the economy is eminent. All those who know enough to open their eyes agree. The question that needs answered is, "is there a FIX?". Can anything feasable be done that will not disrupt society totally? Current proposals
All financial transactions involving the firearms training facility -- from accepting payment for classes to paying staff and vendors -- must take place through a court-appointed administrator.
Ameriprise Financial, one of six life insurers offered federal bailout funds, said it is turning down the money. Prudential, which also was granted preliminary approval for taxpayer capital, signaled that it hasn't decided whether to accept the a
I am writting as I have to other websites and newspapers in regards what to do about helping those in foreclosure or getting all those out of debt. It is time to stop sending OUR Money to the Banks and others as stimulous money and give US OUR MONEY.Read Letter
U.S. credit card defaults rose in April to record highs, with Citigroup and Wells Fargo posting double digit loss rates ...
Consumer prices were flat in April, while industrial production fell by the smallest amount in six months - further evidence that the recession's grip is slowly easing.
General Motors Corp. on Friday told about 1,100 dealers, or nearly 20 percent of its U.S. network, that they will be fired by the automaker late next year because their sales are weak.
Joe Scarborough on Morning Joe: Interview with Ron Paul. Joe is talking about his new book, “The Last Best Hope”. And how Joe is “STUNNED” about a warning Ron Paul had made in Banking committee so he reprinted it in its entirety. “The special p
The embattled California governor, whose ratings in opinion polls have been hemorrhaging, is now turning to a potentially even more unpopular stance: he’s threatening to sell off the state’s public landmarks to close a sizable budget gap.
Six major insurance companies have received preliminary approval to get billions of dollars in fresh capital as part of the government’s financial rescue program, a Treasury Department spokesman confirmed.
California Gov. Arnold Schwarzenegger proposed harsh measures to tackle a budget shortfall of at least $15.4 billion, including deep spending cuts for schools and health programs and the elimination of 5,000 state jobs. Schwarzenegger warned the budg
To save our economy from destruction and from the eventual holocaust of run away inflation, we the people must take the money-supply function back from the government.