Not only is there nothing Bernanke can do to prevent further meltdown in housing and erosion of the economy, but if there was he wouldn’t know what to do. From this AP article:
One of the suggestions Bernanke made was for mortgage and other financial companies to reduce the amount of the loan to provide relief [...]
Tagged with: economy, government
Posted under: Money Stuff
Stunning jump in foreclosures
The Fed cuts interest rates by 0.75%, markets around the globe take big hits over night and Heath Ledger dies; what else could possibly go wrong? How about a 421.2% increase in the number of foreclosures in California over last year during the 4th quarter. Default notices were up too. Some might [...]
Tagged with: economy
Posted under: Political Stuff
There’s always a first for everything so I’m going to link to the New York Times:
Drop Foreseen in Median Price of U.S. Homes
I don’t really consider myself a pessimist, but I do pride myself on looking at the facts and coming to my own conclusions. To me the outlook of the housing market and the [...]
Tagged with: economy, foreclosure, loans, spending
Posted under: Money Stuff
Everyone is talking about gas prices, but why, I don’t see anything out of the ordinary happening. Supply is down and demand is at record levels. Pull out your remedial economics thinking cap and figure out what that means, you’re right HIGHER PRICES! People who simply believe gas prices are high because the evil oil [...]
Tagged with: cars, economy, government, taxes
Posted under: Political Stuff