Congress Proposes Cram-Downs As New Mortgage Solution
The plight of homeowners delinquent on their mortgages has been the focus of much debate lately. There have generally been two major lines of thinking: -The best course is to let free market principles apply. If homeowners [...]
Job Losses Continue – “Unprecedented Economic Conditions”
Job losses continue to dominate the headlines in 2009. Logitech To Slash 15% Of Work Force ZURICH (Reuters) — Logitech International SA, the world’s largest computer-mouse maker, said it plans to cut 15% of its workforce and [...]
Fed’s Asset Purchases Continue To Expand
The $8 Trillion Dollar Bailout NEW YORK (CNNMoney.com) — Sitting down? It’s time to tally up the federal government’s bailout tab. There was $29 billion for Bear Stearns, $345 billion for Citigroup. The Federal Reserve put up [...]
Home Ownership Turns Into Nightmare For Many
The government’s obsession with making everyone a homeowner, regardless of qualification, has resulted in misery for millions and trillions in financial losses. Here’s another example of our failed social experiment. Housing Push For Hispanics Spawns Wave of [...]
Stay Long SSO & DIA
My initial assessment on December 3rd that the world had run of sellers has been a win so far – see Breathless Hysteria Overdone? I am maintaining my long positions in SSO and DIA. Although not quite [...]
The Risk Of Higher Mortgage Rates
Mortgage rates again ticked higher Friday as the treasury market continued its sell off. Most of the good news may already be priced into the treasury market that mortgage rates are based on. Reasons why mortgage rates [...]
The Good News About Retail Sales
Business Week reports bad news that is actually good news. The Economy That Stole Christmas It was just as bad as experts had feared—and maybe even worse. Retail sales for the Nov. 1-Dec. 24 season sagged between [...]
Promises That Cannot Be Kept
Did Bernard Madoff run the biggest Ponzi scheme of all time, or does this honor actually belong to the US Government? Is Social Security A Ponzi Scheme? In the aftermath of the Madoff implosion, quite a few [...]
The Terminal Debt Trap
US Could Be Facing Debt “Time Bomb” This Year WASHINGTON – With President-elect Barack Obama and congressional Democrats considering a massive spending package aimed at pulling the nation out of recession, the national debt is projected to [...]
