Dec - 1st
Frugal times?
Posted at 12:09 pm | Filed Under The Economy, Real Estate
I hope that Americans are finally realizing that we can’t continue living beyond our means. Maybe, this financial crisis will bring some positive change to our country. This article in the New York Times shows you how Americans have been spending money they don’t have and how some of them are changing their ways.
Meet the […]
Nov - 25th
Bailout of the day: 800 billion to buy mortgage-backed securities
Posted at 3:03 pm | Filed Under Politics, Bailout News, The Economy
You didn’t think we were going to go one single day without a bailout, did you? Of course, the Federal Government never fails to disappoint us and it is once again throwing money at the problem trying to re-inflate the housing and credit bubbles.
According to Bloomberg:
Nov. 25 (Bloomberg) — The Federal Reserve took two […]
Nov - 25th
S&P/Case-Shiller Home Price Index shows more home price declines
Posted at 10:46 am | Filed Under Bailout News, Politics, California Housing Crash, Florida Housing Crash, The Economy, Real Estate
Home prices across the US kept declining even before October when things got really really bad. That according to the S&P/Case-Shiller report released today. Here are the numbers:
Nov - 24th
Another day, another bailout
Posted at 10:55 am | Filed Under Bailout News, The Economy, Real Estate
The Federal Government keeps trying to stop the inevitable but bailing out yet another financial institution.
According to CNBC:
The U.S. government has agreed to guarantee over $300 billion of Citigroup’s troubled assets — loans and securities backed by residential and commercial real estate and other such assets — with conditions attached. These conditions are being […]
Nov - 24th
Peter Schiff Was Right 2006 - 2007
Posted at 7:41 am | Filed Under Bailout News, Politics, California Housing Crash, Florida Housing Crash, The Economy, Real Estate
I remember when the media used to make fun of this guy. Well, he turned out to be right.
Nov - 22nd
California’s Unemployment Rate Increases To 8.2 Percent
Posted at 12:26 pm | Filed Under Politics, California Housing Crash, The Economy, Real Estate
California’s unemployment rates keep raising. According to the EDD:
SACRAMENTO – California’s unemployment rate was 8.2 percent in October, and nonfarm payroll jobs declined by 26,400 during the month, according to data released today by the California Employment Development Department (EDD) from two separate surveys.
The U.S. unemployment rate also increased in October to 6.5 percent.
In September, […]
Nov - 22nd
The FDIC takes over 3 more banks on Friday
Posted at 12:24 pm | Filed Under Politics, Bailout News, California Housing Crash, The Economy, Real Estate
More banks keep going under, now is the turn for Downey Savings & Loan Association of Newport Beach and PFF Bank & Trust of Pomona, both in California. The FDIC also took over Community Bank of Loganville, GA.
In its news release, the FDIC said the following:
U.S. Bank, National Association, Minneapolis, MN, acquired the banking operations, […]
Nov - 21st
Not everybody should be a homeowner
Posted at 6:28 pm | Filed Under Politics, The Economy, Real Estate
This is one of the smartest statements anybody has made in a long time and you can read the whole article on the San Francisco Chronicle web site.
The hard fact is, at any given time, no more than about 50 percent of the American population should own their own homes, at the very most. Everyone […]
Nov - 21st
Help us STOP the Auto Makers Bailout!
Posted at 7:31 am | Filed Under Politics, Bailout News, The Economy
I received this from Dick Armey today. Let’s help them out.
Since the 1970s, Detroit’s Big Three auto makers have failed to keep
up in the competitive auto industry. High labor costs and inflexible
work rules, as well as a failure to overcome negative consumer sentiments have combined to bring the Detroit-based auto manufacturers to their knees. Now […]
Nov - 21st
The fall of the American Empire - Part II
Posted at 1:04 am | Filed Under Politics, The Economy
Sad but true. America won’t be the super power forever and it might not take too long for us to witness the fall of the American Empire.
According to Reuters:
WASHINGTON, Nov 20 (Reuters) - U.S. economic and political clout will decline over the next two decades and the world will be more dangerous, with food […]
