It has been a few months since I’ve done a thorough analysis of the California housing and economic situation. Given the current changes I think it warrants another close look. The last article I did regarding California with an in depth perspective laid out 10 reasons why I thought California would not face a housing […]
The story of Jdimytai Damour, the Wal-Mart temporary employee who was trampled to death is a sickening verdict on the consumerism disease plaguing this nation. The worker was trampled to death as rabid shoppers broke down the door at 5:00am in New York. Other Wal-Mart employees tried to help Mr. Damour but the crowd kept […]
The economy is once again in full delusional mode with consumer confidence earlier in the week hitting an all time record low and GDP contracting. But guess what? You wouldn’t know that by looking at the stock market. The S & P 500 for the week is up 8% and there has been no good […]
Congratulations! We are now the future proud owners of $700 $810 billion in the most toxic, putrid, rancid, and horrific mortgages that humankind has ever encountered. On Friday as the Congress went through their Broadway-like charade of actually debating and acting like they care about middle America, the bill which was just rejected on Monday […]
You may recall that in the distant past (Monday) the House of Representatives voted in a decent margin to say no to the housing bailout bill. So after a 777 point market smack down, economic fear mongering, and polling politicians found out that Americans don’t like the sound of the word “bailout.” So from now […]
Instead of the House of Representatives sending in a nice sealed envelope a candy gram to Hank Paulson of $700 billion, they instead decided to listen to the people and did a reverse bailout wiping out $1.2 trillion in stock market wealth. Go figure. The House of Representatives actually listened to the massive uprising against […]
“I’m shocked, shocked to find that gambling is going on in here!” -Captain Renault, Casablanca
Many of our elected officials were “shocked” and astounded to realize that the entire economy has turned into a glorified casino. Ironically, the quote above comes from Casablanca which translated into English means Whitehouse. How appropriate given the circumstances. How the […]
Housing is nowhere near a bottom. Housing is nowhere near a bottom. Did you get that? The lovely media spin machine has been digesting recent reports from housing pundits about the decline in overall inventory. The pundit’s explanation is simple. Inventory is going down because sales are increasing therefore things are fantastic! This not only […]
Given the recent positive reading for GDP, some are now doubting that we will even face a recession. This of course is a misnomer and most average Americans realize that our country finds itself in a very tenuous situation. It is very easy to brush off the current talk of economic malaise as simply another […]
Ben Bernanke is spending some quality time in Jackson Hole Wyoming. In his prepared speech, Federal Chairman Ben Bernanke talked about “reducing systemic risk.” The problem however is that as the credit crisis has rippled throughout the economy the mystique of the Federal Reserve has diminished greatly. The former Federal Chairman Alan Greenspan still had […]
