Recent Posts
Recent Posts Tagged With 'bailout'
US Housing Foreclosures and Recovery
Foreclosures in the United States have not stopped. It is still increasing and there is a shadow inventory of bank REOs sitting empty and not for sale. This is probably due to accounting rules of mark to market. Regardless, the efforts of keepi...
How high will gold go? part 2
I purchased gold ETFs near the beginning of the year instead of jumping back into stocks. This was more of a defensive move because I was worried about the US dollar and the crazy deficits we were and are still incurring. I think many others share...
More Rooms Than Guests
I know the Dubai Debt Debacle was the biggest news on the stock markets yesterday and then it is Black Friday. I am not sure how big of an effect they will have on the US economy. On top of unemployment and foreclosures, I think the commercial si...
Peter Schiff video Gold, Geithner, Roubini, the Fed, Housing * 11.20.2009
I do like his analysis on the overall economy. If you don’t like economics, then this will be very boring for you. If you like economics like I do I think you will appreciate his views. At about the 3 minute mark, Schiff starts to talk abou...
Bankruptcy filings in federal courts jumped by more than one-third this year
The public record on the number of bankruptcies is on the rise which corresponds to increase of credit card delinquencies. Even though we have reports that say delinquency is going down from the credit card companies, it is obvious they are being...
Judge Erases $525,000 Mortgage in Long Island
This is just one of the stories where the big banks lose and the little guy wins. I thought it was worth sharing. This is an example of a bailed out bank just being evil. We should have never bailed out any banks with Taxpayer money and this ...
Credit Card Delinquency Getting Better And Worse
As always different sources try to spin the same stories as good and bad. According to Transunion the delinquency has improved. They base that on the data they collect (which they don’t do very accurately). Just pull up your credit report...
Housing Crisis 2009: A Foreclosure On Every Block
The recession will continue to get worse until the housing issue is dealt with and resolved. The housing bust was the giant domino that put our economy into the worse recession since the Great Depression. Now that foreclosures have worsened, bo...
2009 YTD 123 Bank Closures 11.14.2009
It seems that the pace of bank closures are increasing as we get closer to the end of the year. These are not just single banks but chains of bank representing many branch locations. We are up to 123 officially closed banks taken over by the FD...
FOX is anti-Obama and anti-Democrat..who gives a crap?
For the most part, when it comes to politics these shows are against the current Obama administration, the House, and the Senate (both of which are currently Democratic majority). We all know this because during the Bush administration, this media ...
Bank failures top 106 on 10.23.2009
Everyone who watches how many banks are being shuttered for failure was expecting number 99 today. So it was a big surprise, at least to me that the FDIC announced 7 bank closings. Each bank of course represents multiple branches. That is 7 ban...
Ron Paul video: Wall Street Gains, Main Street Pains
Bailed out banks are paying out record $140 BILLION in BONUS. “Wall Street pulls the strings in Washington” 10/20/2009 Ron Paul talks Economics on CNN American Morning ...
President Obama Stimulus Jobs
Our government has spent some big bucks to get this economy restarted. Originally, the claims that Obama and his economic advisers made earlier this year to get this stimulus package passed was that it would create or save 2 million, 3 million, and...
What are the true number of foreclosures?
The Dow crossed the 10,000 mark and companies are profitable. Yet, the economy doesn’t seem to reflect this. The economists have declared the recession is over, but other than stocks going up from their lows there is not much to demonstrate t...
Where are the 4 or 5 million jobs promised by the Obama administration?
Our country is undergoing many changes right now. I don’t like Bush or Obama’s actions to date because it has not helped the majority of Americans. At first I felt like an anti Bush blog and now I am an anti Obama blog. All for go...
Ron Paul on The Daily Show with Jon Stewart
Ron Paul promoting his book “End the Fed”. This video is pretty good and Jon Stewart allows him to speak and answer the questions. Enjoy! Ron Paul on The Daily Show with Jon Stewart...
Predictions vs forecasts on the economy and the housing recession
The economy is at a turning point. There are predictions that the economy might get better because of home prices falling slower than before. I know many economist are grasping at the positive spins on all the report and that is why these predict...
HBO Bill Maher, Michael Moore, and facing reality on blind support for Obama
Michael Moore has a new movie out that looks very interesting. It looks like it will be another high quality documentary. I saw him doing the rounds this weekend. First on the Larry King show and then next on the Bill Maher show. I was actu...
Foreclosures taking over 18 months now? Wow.
The banks have so much in losses (even though they are manipulating numbers for investor purposes) that they can’t even foreclose on properties that are in default. In normal times, banks would file a notice of default (NOD) after 3 months of...
Jon Stewart video on One Year Anniversary of Lehman collapse
This is timely and kind of funny. After the corrupt bailouts, then what? Enjoy! The Daily Show With Jon Stewart Mon – Thurs 11p / 10c One Year Anniversary of Lehman Brothers Collapse www.thedailyshow.com Daily Show Full Episo...
Will “pay czar” Kenneth Feinberg do his job?
So we have the CEO talking about an employee making a bailed out company making $100 million bonus as too much. I agree with him. If this for profit company wasn’t rescued by the American taxpayer money, then I wouldn’t care. Howeve...
Credit card defaults on the rise
It’s funny how the news media continue to report the economy is better, and yet all the other information coming out is bad. A good indicator of how people are doing is the rate of delinquency on credit cards. Right now they are at extremel...
August deficit marks record 11 consecutive months of deficits
Good news, the budget deficit shrank! Just kidding. We continue to break records no matter how positive the main stream media tries to present it. The Obama administration has surpassed the Bush administration in its record deficit spendin...
Ron Paul: Government Solutions Lack Understanding
The latest speech from Ron Paul is just more common sense on the current political and economic situations in America. It makes no difference if you are Democrat, Republican, or Independent (like me), his viewpoints make sense. If we put most of th...
Taxpayers can expect losses not profits from Obama’s bailouts!
The truth behind most of our government bailouts of companies is that they were run poorly before the recession. I am talking about the bailed out companies, but that statement could also apply to our current government. Our government committed ...
Wow! Treasury says millions more foreclosures coming.
It’s ironic to hear a government agency be forthright with the truth. Many bloggers have been discussing the tsunami of foreclosures on the way which will translate into more bank losses. WASHINGTON (Reuters) - Only 12 percent of U.S. homeown...
Latest Ron Paul video on Auditing the Fed 09.06.2009
9.7% unemployment rate means 15 million people are unemployed
When the Obama team put the $787 billion stimulus package into play, they had forecast unemployment would top out at 8% by the end of this year. Many economists and experts agreed and they were all wrong. This is no different when our Federal Reser...
VP Biden is a good cheerleader!
It doesn’t matter if things are better or worse for our Vice President Biden, he will choose to stay focused on the positive side of a situation. If it doesn’t exist, then he will simply make it up. We have had a few economists and ex...
More credit card limit reductions and cancellations on the way
This isn’t new information to those already affected by it, but as the economy continues with higher unemployment and ever increasing foreclosures, more consumers will become the new profiled customer to be cut off. We have new laws tha...
