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Making Home Affordable, has raised false hopes among people who s…
CHESSNOID random noid musings | January 2nd 2010 by CHESSNOID
I just finished reading a New York Times articles about how the government’s efforts to help the housing crisis may actually be making it worse. I think at this point, most people will recognize that the start of this recession was mainly due read more
American Express Recent Experiences on Credit Card Limit Reductio…
CHESSNOID random noid musings | December 30th 2009 by CHESSNOID
I don’t have any new American Express credit card blog posts but I still get many comments on the old posts. Unfortunately, many of those comments are buried because the posts are so old. It’s funny that based on the comments and freque read more
Top 10 Scams and Rip-Offs of 2009
CHESSNOID random noid musings | December 30th 2009 by CHESSNOID
I just received an email from the Better Business Bureau about the top 10 scams. During an economic downturn, scammers try to take advantage of people under extra stress in their lives. Anyways, it is a good list to go over. I still get the read more
Robert Shiller Thinks Housing Double-Dip Possible
Boom2Bust.com | December 29th 2009 by Christopher E. Hill
Robert Shiller, the Yale economics professor who predicted the U.S. housing bust, appeared on the Wall Street Journal’s “News Hub” today and talked about his outlook for the U.S. housing market. From the MarketWatch website: A lot of analysts read more
Strategic Default: Morgan Stanley Gives Properties Back to the Le…
CHESSNOID random noid musings | December 27th 2009 by CHESSNOID
I think this article is a great example of why individuals need to view their real estate transactions as investments. Does it make sense to hold on to a house that you purchased at the top of the market boom and hold on to it for 15 years just to read more
81 Year Old Lawrence Rickman tells the Credit Card company to sho…
CHESSNOID random noid musings | December 24th 2009 by CHESSNOID
The credit card companies are at war with consumers. They have taken preemptive action to keep its profits from turning to losses. The credit card companies have rushed to change all fixed rate cards to variable rates to basically expose a loopho read more
U.S. Mortgage, Foreclosure Pain Grows In Third Quarter
Boom2Bust.com | December 24th 2009 by Christopher E. Hill
I keep on hearing the mainstream media talking about a “housing recovery.” However, the constant stream of miserable housing data, like that found in a Los Angeles Times piece on Tuesday, makes me wonder about the MSM’s claim. Jim Puzzangh read more
Las Vegas Woman Victim of Foreclosure Mistake has her home Trashe…
CHESSNOID random noid musings | December 21st 2009 by CHESSNOID
With so many foreclosures taking place in America, I am surprised this doesn’t happen more often. Fortunately, it doesn’t happen often but when it does happen I think there should be severe punishments for that company. A lady who was read more
CBS 60 Minutes: Wilmington’s Long Recession
CHESSNOID random noid musings | December 21st 2009 by CHESSNOID
When I watch videos like this on 60 Minutes, I realize the Great Recession that has been declared over by many economists is wrong. They may take some reports to rationalize that things are better, but when you see all the people still hurting and read more
Bloomberg: Luxury Homeowners Defaulting at Twice the Rate of the…
Fund my Mutual Fund | December 20th 2009 by TraderMark
Since the current "market" in housing is so misconstrued with artifical interest rates, $8000 (or $6500 for repeat buyers) handouts, HAMP programs, bailouts, 3.5% down (haha) FHA loans to almost anyone who breathes up to the $730K range, and the like read more
Ron Paul: Bernanke is World’s Greatest Counterfeiter 12.16.2009
CHESSNOID random noid musings | December 19th 2009 by CHESSNOID
It’s funny to me that people still believe that Bernanke has done a good job. The media makes it sound like he saved the world, when he actually contributed to the global recession. He was nominated by our former President who has also failed read more
2009 Bank Closures Update 140 Year To Date
CHESSNOID random noid musings | December 19th 2009 by CHESSNOID
Every Friday after 5 pm, the FDIC comes in like a ninja in the night and starts taking over failed banks. This last Friday it was very busy as it took over 7 failed banks bringing the total to 140 year to date. The bank closures are a contradicti read more
Daily Show Jon Stewart: Clusterf@#k To The Poorhouse – Flight D…
CHESSNOID random noid musings | December 17th 2009 by CHESSNOID
The post of the title says it all. Enjoy! The Daily Show With Jon Stewart Mon – Thurs 11p / 10c read more
Why Does Our Current Congress Suck?
CHESSNOID random noid musings | December 17th 2009 by CHESSNOID
Most of our elected politicians claim they are trying to make things better for most Americans. Why is it they always have actions that contradict their words and promises. All you have to do is follow the money. Lobbyists giving certain politi read more
USA Today: Home Buyers are Focusing on Smaller Homes
Fund my Mutual Fund | December 17th 2009 by TraderMark
This was a trend we noted in summer 2008 [Jun 7, 2008: Staycations and the Shrinking Home] ... The houses themselves are being radically downsized to meet buyers' budgets. At the peak of the last boom, in 2006, KB's customers craved cathedral ceili read more
November Credit Card Delinquency Up
CHESSNOID random noid musings | December 15th 2009 by CHESSNOID
Do you find it odd that banks are paying back TARP, unemployment supposedly went down from 10.3% to 10%, and GDP expanded by 3.5% and yet the credit card delinquency is still rising? At least for the credit card companies who are not cooking the bo read more
Rolling Stone’s Matt Taibbi: Obama’s Big Sellout
CHESSNOID random noid musings | December 14th 2009 by CHESSNOID
This writer puts together a very cohesive view of Wall Street and all the back room deals made with our government. Taibbi offers insight to why corrupt banks were able to get bailout funds from the taxpayers. Watch his video below. Below is an art read more
How Do You Get A Loan Modification?
CHESSNOID random noid musings | December 10th 2009 by CHESSNOID
The banks are still breaking foreclosure records and the inventory is growing. I have heard references that it costs the banks between $30,000 to $50,000 per foreclosure. That is a lot of money just to take back a house. So why don’t the read more
7.1 Million Foreclosures 2008-2009
CHESSNOID random noid musings | December 10th 2009 by CHESSNOID
That’s how many foreclosures the United States has had which is bigger than the population of most countries. Many media outlets are trying to focus on the positive that there are less foreclosures now than July 2009 (the truth is we had mo read more
WSJ: House Flipping Making a Comeback
Fund my Mutual Fund | December 9th 2009 by TraderMark
Good news folks; one of the foundations of economic prosperity in the 2000s - manufacturing products other countries want house flipping - is making a comeback as trillions of free money is borrowed / printed, and thrown into the system. read more
“Mish” Shedlock: unemployment rate will be over 10% all the w…
CHESSNOID random noid musings | December 8th 2009 by CHESSNOID
This is very bearish news and if it proves to be true, I recommend preparing for the worse. We have only had 10% unemployment for 2 months officially, so if it maintains double digits for 5 years, things are going to be rough for everyone in every read more
Meredith Whitney latest video on the economy 12.08.2009
CHESSNOID random noid musings | December 8th 2009 by CHESSNOID
This is the latest Meredith Whitney video I could find with her assessment on the current economy. I have to agree with her. She has been accurate with her previous forecasts and based on what she says here it looks like more bad news up ahead. read more
The Obama Home Affordable Modification Program (HAMP)
CHESSNOID random noid musings | December 8th 2009 by CHESSNOID
I think the idea and the intent is good. The execution is terrible. I sincerely think Obama needs to surround himself with more hands-on result oriented people than academic professors on his economic team. Bernanke (there is no recession), G read more
Quotes For The Week
Boom2Bust.com | December 7th 2009 by Christopher E. Hill
Well, I’m not a great believer in Chinese economic statistics. I mean, they’ve learned one thing from the U.S.— how to massage and doctor economic statistics. So I don’t take that on face value… I suppose that a lot of governments wi read more
Are Debtors Revolting Against the Bailed Out Banks and Credit Car…
CHESSNOID random noid musings | December 6th 2009 by CHESSNOID
Awhile back, I saw this video from Rockerchic4God and posted her video here on my blog. I will repost her video below so you can listen to her explanation of why she has decided to withhold her payments from her credit card company. In a nutshell read more
NYT: Why Many of the New Home Loan Modifications Fail
Fund my Mutual Fund | December 6th 2009 by TraderMark
It is so dispiriting to see so much wasted money to support the Ponzi economy and all its subsets such as housing. Rather than allowing the market to clear, albeit painfully but in much more quick fashion, we are borrowing & printing countl read more
CNBC Reporter: Home Prices Not Improving Overall
Boom2Bust.com | December 4th 2009 by Christopher E. Hill
If the housing Pollyannas think they can depend on CNBC for bullish housing news, they might want to reconsider. From CNBC’s Diana Olick on Wednesday: I know recent monthly data has everyone thinking that the freefall in home prices is over. I don& read more
Wall Street Cheers Unemployment Numbers
CHESSNOID random noid musings | December 4th 2009 by CHESSNOID
The unemployment number went down which should be a good thing no matter what. Right? The question is how accurate are the numbers and which reports are they reporting. Just a week ago, the TV media showed how crowded the stores were for Black read more
Senator Jim Bunning: failures of Federal Reserve Chairman Ben Ber…
CHESSNOID random noid musings | December 3rd 2009 by CHESSNOID
I do hope we have enough senators like Senator Bunning with courage to do the right thing for the American people and get rid of the establishment that created this financial debacle we are in. Senator Bunning knows Bernanke is a failure in the rea read more
The Federal Reserve, 0% interest rates, and the housing crisis.
CHESSNOID random noid musings | December 3rd 2009 by CHESSNOID
The same economist Brian Wesbury, chief economist at First Trust, has another video on his views on the Federal Reserve, the origin of the housing crisis, and the weaknesses he sees with the Fed’s chairman Bernanke. The more I listen to this read more
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