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Archive for the ‘Housing Market’ Category

The “Fundamentals” Of A McBush Presidency

Monday, September 22nd, 2008

Every now and then, one encounters words of utter clarity. Such is the case with Paul Krugman's observations in the aftermath of John McCain's infamous statement, "The fundamentals of our economy are strong". From The New York Times: Aha. I'm gathering, from my reading here and there, that most people don't know ...

Defrosting The Denial - The Bitter Bite Of 700 Billion Deaths

Monday, September 22nd, 2008

Conventional wisdom would suggest that Americans should be heartened by the plan to stabilize the struggling financial industry. We Americans like action as it soothes the angst created by a stock market in free fall, a housing industry in the tank, a shrinking supply of job prospects, and a general ...

Financial Meltdown: Math & The Myth Of Fiscal Responsibility

Friday, September 19th, 2008

While the details haven't been disclosed, it appears that the powers that be are considering a plan to bail out Wall Street...in a big way...on the backs of the American taxpayer. Troubling as this sounds, it may be the only viable solution. Regardless of the eventual solution, one thing is ...

Making millions and billions off the working poor.

Saturday, August 9th, 2008

Businessweek's Brian Grow and Keith Epstein did an in depth article on the corporations that prey upon our nations poor, specifically the working poor. The title of their article (listen to the podcast here): The Poverty Business . There is quite a lot of money to be made off ...

Socialism Is Evil! (Unless You Need A Corporate Bail-Out)

Wednesday, July 16th, 2008

"Ours is a system of corporate socialism, where companies capitalize their profits and socialize their losses...in effect, they tax you for their accidents, bungling, boondoggles, and mismanagement, just like a government. We should be able to dis-elect them." - Ralph Nader Conservatives hate socialism. We know this is true because they tell ...

Putting The Fannie Mae & Freddie Mac Situation In Context

Friday, July 11th, 2008

Today, the stock market reacted negatively to speculation that the U.S. government could be forced to bail out the nations two largest sources of mortgage funding, Fannie Mae and Freddie Mac. Of the 12 trillion in mortgage debt, the two giants account for slightly less than 50 percent...a full 5 ...

The Bush Legacy: A Bad Case Of “ED” Or A Royal Screwing?

Friday, June 6th, 2008

Today, President Bush, in the following video clip, tells us that we face "turbulence in the housing market and slow growth for our overall economy". At the same time, the number of U.S. homeowners in foreclosure or delinquent on their mortgage payments is nearly nine percent, unemployment jumped a full ...

Upside Down and No End in Sight

Wednesday, April 30th, 2008

  My Sister-in-law is in the market to buy a house. Via Bloomberg: About half of recent subprime and Alt-A borrowers may soon owe more on their mortgages than their houses are worth or hold minimal equity, putting $800 billion of debt at greater risk of default, according to Barclays Capital. Subprime loans ...

Yes, the Mortgage Meltdown IS your Problem

Saturday, April 26th, 2008

Sure it’s fun to sit there all smug and superior and think “why didn’t that stupid shit read the fine print?” or “I’m not gonna bail out some greedy irresponsible $#!%&*$#& who bought a house he couldn’t afford.” The foreclosure tsunami has been wrecking neighborhoods all across the country. And it ...

The Sub-Prime Demographic Shift

Tuesday, April 22nd, 2008

  Focusing on the foreclosures shows only part of the sub-prime fiasco's effect on our country. Yes, we'll have displaced people, a swelling poverty base, and an overall loss of consumer wealth. It will impact our businesses, manufacturing sectors and economic stability. Rising food and gas costs (along with housing costs) ...

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