Robert Shiller has finally gone off the deep end. He wants to condemn millions of US guaranteed mortgages from the bankster mafia. Shiller: My colleague…
I have annotated the press release’s key comments including the bold highlighting of certain sections. Press Release- Federal Reserve Bank of St. Louis ST. LOUIS…
CHICAGO (MarketWatch)—An increasing number of homeowners who are underwater on their mortgage are selling their homes by short sale, and that could become an even…
Jan 9 (Reuters) – The Federal Reserve has launched a potentially controversial push to revive the battered U.S. housing market, calling on other government officials to act after largely exhausting its own tools to support the fragile economic recovery…
Gross’ PIMCO makes a big move into mortgages
October 12, 2011 – By Jennifer Ablan
NEW YORK (Reuters) – Bill Gross, manager of the world’s largest bond fund, ramped up buying of mortgage-backed securities in September on the likelihood the Federa…
SEPTEMBER 5, 2011, 1:26 P.M. ET.
Europe Stocks Slammed; Germany Drops More Than 5%
By Barbara Kollmeyer and Toby Anderson
European stocks plunged Monday and the euro tumbled, as investors piled into safe-haven assets amid rising fears over Europe’s …
The austerity and debt reduction storyline being sold by the MSM is a crock. The total amount of mortgage debt outstanding peaked at $14.6 trillion in 2008. The total amount of consumer debt (credit cards, auto loans, student, boats) outstanding pea…
The major problem with the economy is that consumers are not spending as a result of the record household debt built up over the last few decades. Until this huge amount of debt is pared down to more normal levels, fiscal and monetary policy can d…
Let us start with the facts:
· At 8.8% almost three years after the onset of the global financial crisis, America’s unemployment rate remains stubbornly (and unusually) high;
· Rather than reflecting job creation, much of the improveme…
There is risk that the FIRE economy will resume. Remember that we’re in the middle of bizzaro world here as far as finance and credit origination go.
Although we have the same issues as we had in the 1930s, this isn’t the 1930s and the United State…