Every part of the sector – from multifamily apartment buildings to retail shopping centers, suburban office buildings, industrial facilities, and hotels – has accumulated a huge amount of defaulted or nonperforming paper. It’s an impossible, swaying
That’s right, the next train wreck will be in commercial real estate. Couldn’t be worse than last year’s residential market crash? That remains to be seen. But it’s coming soon, probably as early as the second quarter of next year, and there’s nothin
When the financial system blows up and credit is sucked down a capital-hole, the economy goes into a downward spiral. Businesses slash inventory and lay off workers, workers have to cut back on spending and credit. That creates less demand for produc
In this dark firmament, however, one bright star shines. The sole state to actually gain jobs is an unlikely candidate for the distinction: North Dakota. North Dakota is also one of only two states expected to meet their budgets in 2010. (The other i
A broad U.S. stocks rally sent the Dow industrials to a 13-month high on Monday, after the Group of 20 pledged to keep aid flowing to the world economy, strengthening investors' desire for risk. The agreement by G20 finance ministers and central
Governments are running breathtaking deficits…and accumulating alarming debts. Japan has a national debt of nearly 200% of its GDP. Where did that debt come from? It came from 20 years of trying to buy its way out of a slump with borrowed money.
Healthcare for the American "livestock" - Jacob Sullum from Reason Magazine joins the show in the 2nd hour to share his view about the Nationalization of America's Healthcare Industry.
To put these numbers into perspective, a savings of 2.43 percentage points in one quarter amounts to $1.2 billion in saved interest costs on $203 billion. That's over 40% of its third-quarter earnings. (I'm speaking of Goldman Sachs)
MISH WRITES; Congressman Ron Paul offers an opinion on the front cover to which I certainly concur: "Goyette does a great job explaining why America faces a looming financial crisis and outlines commonsense strategies for individuals to protect them
The dollar will get "utterly destroyed" and become "virtually worthless", said Damon Vickers, chief investment officer of Nine Points Capital Partners.
(Article is from July but still relevant) So what’s wrong with Goldman posting $3.44 billion in second-quarter profits?
China hopes the USA will keep its deficit to an appropriate size to ensure stability in the US dollar. The Chinese expressed concern massive US deficit spending and near-zero interest rates would erode the value of China's huge US bond holdings.
Stock market volatility is back, a signal to some experts that the powerful rally that started in early March may be coming to an end. The Dow Jones industrial average rose or fell more than 100 points in seven of the past 12 trading days, capped by
Are you prepared for the dollar meltdown? A currency crisis is not a pleasant event. The economic dislocations can be severe and often they usher in powerful and dangerous new political events. But you can take steps to profit and protect yourself
"If statistics went back so far, the measure would almost certainly be at its highest level since the Great Depression," reporter David Leonhardt wrote in Friday's edition of The New York Times.
Today's release of the October jobs report showed the loss of another 190,000 jobs had pushed the official unemployment rate to 10.2%, only the second time since the Great Depression that unemployment was quoted in double digits
If I offered to give you $1.00 for very 90 cents you gave me in return, you would buy as many dollars from me as you could. The Fed operates the same way.
Freddie Mac's losses narrowed to $6.3 billion in the third quarter, but the government-controlled mortgage finance company didn't need a federal cash infusion. The McLean, Va.-based company has received about $51 billion since it was seized by federa
Regulators on Friday shut banks in Georgia, Michigan, Minnesota, Missouri, and California, bringing the number of bank failures this year to 120 amid the struggling economy and a cascade of defaults on loans. The Federal Deposit Insurance Corp. to
Join Charles Goyette for a number of important interviews about the coming currency crisis! The market price of both gold and oil confirm the dollar crisis. Now learn how a monetary crisis unfolds and how to protect yourself and your family from it
Central banks with trillions of dollars in reserves that are already stepping up euro and yen purchases will likely continue doing so in coming years, driven by worries over the stability of the greenback. A record U.S. budget gap and the rise of dyn
[The true U6 unemployment rate is 20%.] The U.S. jobless rate [U3] unexpectedly jumped to a 26-1/2-year high of 10.2 percent last month, adding to pressure on the Obama administration to do more to tackle unemployment even as signs of recovery mount.
Government officials put trillions of taxpayer dollars on the line to guarantee risky bank assets — a strategy that could cause permanent and costly market distortions, a government watchdog says. At the peak of the financial crisis, taxpayer money g
"The Reserve Bank of India (RBI) has concluded the purchase of 200 metric tonnes of gold from the International Monetary Fund (IMF), under the IMF’s limited gold sales programme. This was done as part of the Reserve Bank’s foreign exchange reserves m
Just as the housing sector appears to be recovering, gathering problems in the commercial real estate market threaten to become a new drag on the economy. This year smaller lenders and community banks are going bust at an alarming rate because of t
North Dakota is the only state in the Union to own its own bank. The Bank of North Dakota (BND) was established by the state legislature in 1919, specifically to free farmers and small businessmen from the clutches of out-of-state bankers and railroa
A glimpse inside sheds light on how one of Wall Street's proudest and most prestigious firms helped create a market for junk mortgages, contributing to the economic morass that's cost millions of Americans their jobs and their homes.
House Financial Services Committee chairman Barney Frank, under fire (being lobbied) from some fellow Democrats and consumer groups for carving out what they call loopholes in legislation designed to prevent another economic meltdown, said in a lette
The bill, costing $24 billion, would provide every American running out of unemployment insurance benefits this year with an additional 14 weeks. The out-of-work in states with jobless rates at >8.5% would get 6 more weeks on top of that.
A couple weeks ago, I had my TV tuned to a business show that loves to give predictions on the markets and the economy. On that day, one of the program’s regular guests declared it was time to “short” gold, that it had reached its top, and that the p