The comments by the chairman of the Federal Reserve came in his most eagerly awaited speech, for months, with markets growing increasingly concerned about the weak economy and chronically high unemployment.
The solution is to jump start the housing market by changing foreclosure laws in such a way that it becomes attractive to bail out the foreclosed by harnessing their support.
The current system has worked so long as foreclosures were always at aro
They’re morally blind money addicts who believe they’re “God’s chosen.” AA would say: They haven’t “bottomed,” won’t recover from their disease till a disaster hits, with another market meltdown and the “Great Depression 2.” Then maybe they’ll “quit
Notice that the number of births started declining a number of years before the Great Depression started. Many families in the 1920s were under severe stress long before the economy collapsed. By 1933 births were down by almost 23%...
The co-creator of the Case-Shiller Home Price Index said he is worried that housing prices could decline for another five years. He noted that Japan saw land prices decline for 15 consecutive years up to 2006.
"It was 80 percent credit cards before we started, but it's now about 50/50," said Kent Black. "Non-locals still tend to pay with credit cards, but we've seen a marked increase in cash payments from the local customers."
The too-big-to-fails, rather than being whittled down to size, have grown even bigger, circumventing antitrust laws; and they are being allowed to carry on pretty much as before. The Federal Reserve, rather than being called on the carpet, has been g
U.S. Rep. Ron Paul , R-Tex., plans to introduce a new bill next year that will allow for an audit of US gold reserves, he told Kitco News in an exclusive interview.
Paul dropped the news in the interview, indicating that the bill still does not h
Average Real Weekly Earnings, (read: incomes adjusted for inflation), are below what what what they were in 1973. Income wise the average American family is worse off now than they were 37 years (4 decades) ago.
Investors will face defaults on government bonds given the burden of aging populations and the difficulty of securing more tax revenue, according to Morgan Stanley. “Governments will impose a loss on some of their stakeholders,”
New home sales fell in July to the lowest level on record as the housing market continued to suffer from the end of the homebuyer tax credit boost. This is after yesterday's report of a 27.2% decline in sales of existing homes.
The amount consumers owed on their credit cards in this year's second quarter dropped to the lowest level in more than eight years as cardholders continued to pay off balances in the uncertain economy.
The Dow Jones Industrial Average will lose about half of its value over the next couple of years as it follows a Nikkei-like pattern of several sharp rallies in an overall decline, according to Charles Nenner, founder and president of Charles Nenner
In fact, we could see a situation where another 4 to 5 million jobs could be shed in the United States — and in the three sectors that were, and remain, the most affected by the housing crisis and financial collapse.
One day, when nothing much is going on in the markets, but general nervousness is running like a low-grade fever, there will be a commodities burp: A slight but sudden rise in the price of a necessary commodity, such as oil.
Although having one of every 10 willing workers out of a job is a grim statistic, the figure is much higher when discouraged workers are included in the count. That brings the broader unemployment rate to nearly 1 in 5.
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