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POPSGoldman Sachs Banksters Knew and Bet on Meltdown Filthy lucre on the backs of investors and then got Bailout money from taxpayers too, with the help of their "insider" (and Treasury Secretary) Timothy Geithner. (It helps to have pals in high places.--see Goldman-Geithner connections )
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POPSOn Complexity, Chaos & Collapse The size of the financial sector must be reduced. It's original purposes have been perverted. Its very size is a measure of it dysfunction. They have confused their self-serving maps of the territory for the territory itself.
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POPSIt's About Spain Today, Tomorrow....the US? Banks in Spain are manipulating the housing market by artificially shoring up excess demand. Are we to believe that buying 110,000 homes was an investment made for returns? I hope I don't hear a echo of this thinking in the U.S. Sadly, hopes do not dictate reality.
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POPSNew FHA Foreclosures Jump As FHA continues to offer loans with little money down, and as home prices continued to decline from last year, its no surprise that delinquencies and foreclosures from newly originated FHA loans (last 12 months) are increasing.
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POPSHalf Of US Homeowners Will Be Underwater By 2011 NOW: 14 Million Underwater NEXT YEAR: 25 Million The three bars on the left show three estimates for the number of underwater households at the end of Q1. The two bars on the right show two estimates for next year. DB takes a much more dour view than President Obama's favorite economist, Mark Zandi at Economy.com. Source: Deutsche Bank
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POPSAbout half of U.S. mortgages seen underwater by 2011 Housing has been crazy here too. Prices all over the shop but rising despite all that is happening. Banks still milking home loans to the max. We did it on one income and 2 kids. Now they can't with 2 incomes and both kids in childcare. Don't think we had as much to spend though. And the house wasn't real flash, a home though.
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POPSHousing Sales Up for the First Time in 3 Years Alas, more bad news for conservative Republicans and Libertarians. It seems that those Obama administration financial incentives for home purchases have increased housing sales for the first time in three years. Funny how those government investments in the economy that aren't supposed to stimulate the economy actually do.
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POPSModular homes Modular Homes Network is a national modular homes network including modular home builders, manufacturers and floorplans. We supply information about the modular home industry and construction of system built homes.
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POPSSprott: "It's The Real Economy, Stupid" Anything that starts with "We are now in the early stages of a depression" is a must read. (Sprott Asset Management pdf file) via Zero Hedge http://zerohedge.blogspot.com/2009/07/sprott-its-real-economy-stupid.html US Housing Market Failure: The annual pace of new home sales is now 342,000, a whopping 32.8% below the rate in May 2008. At the current sales pace, there is 10.2 months worth of inventory overhang sitting on the market, dragging down prices and encouraging potential buyers to wait it out as prices deflate... New home sales are down 73% from the all time high of 1,283,000 new homes sold in 2005 (mild recession?)... Rail Car Loadings Suffering: For the first 26 weeks of 2009, US railroads reported cumulative volume of 6,806,892 carloads, down 19.2% from 2008. Stock Market ...at the end of June 2009, the S&P 500 traded at an inflation adjusted P/E ratio of 16.08 And now the Democrats want to destroy healthcare by
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POPSGoldman Sachs - Scams & Bubbles
John McCain insisted that ending the moratorium on offshore drilling would be "very helpful in the short term," while Barack Obama in typical liberal-arts yuppie style argued that federal investment in hybrid cars was the way out. But it was all a lie. While the global supply of oil will eventually dry up, the shortterm flow has actually been increasing. In the six months before prices spiked, according to the U.S. Energy Information Administration, the world oil supply rose from 85.24 million barrels a day to 85.72 million. Over the same period, world oil demand dropped from 86.82 million barrels a day to 86.07 million. Not only was the shortterm supply of oil rising, the demand for it was falling — which, in classic economic terms, should have brought prices at the pump down. So what caused the huge spike in oil prices? but the root cause had almost everything to do with the behavior of a few powerful actors determined to turn the once solid market into a speculative casino.
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