regardless of any official announcement of recessions, US businesses have been behaving as they normally do during recessions
The middle class is hurting, the working class is hurting, and the only barrier between that hurt and the expression of anger in the streets is a sense of patriotic duty.
official figures show that the economy has not improved compared to the year 2000, the stock market is more over valued than in 2000, the actual value of the stock market is lower than the top of 2000, and our work is worth less than it was in 2000.
tongue in cheek commentary about the current liquidity crisis
With gold about to retest the previous high and the Dow Jones average at less than 200 points from the previous high, I will look at two different scenarios and their possible implications for the consumer market.
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If politicians and regulators keep looking the wrong way (wherever but Wall Street) for culprits, there will be very little that can be done to avoid this.
As I pointed out yesterday, the administration is using the current crisis to strengthen Wall Street's position in the biggest land-grabbing scheme since the XIX Century. Although it's hard to analyze what Bush actually wants to do (he only said he was going to do something in th …
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Just one day before Senator Obama gave his misguided opinion on the mortgage mess another Democratic hopeful had come to the fore with his own opinion.
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According to an AP article dated August 29, Federal Reserve Chairman Ben Bernanke proposed the most creative solution to the foreclosure crisis to date: "Let's do it all over again." Of course those are not his words, God forbid a Fed Chairman to speak clearly! Instead, he …
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I think it's very brave from a politician to come out and declare that the government should do something because, from his point of view "our government failed to provide the regulatory scrutiny that could have prevented this crisis."
The drive of the banks to concentrate ownership of real estate in the hands of the few
Are you ready to live as a renter in the cul-de-sac you used to own?
he main interest of the banks is to charge their customers the higher interest possible in any given market. Nothing new there. What is amazing, is that now the press is paying so much attention to this issue and creating a new blame game.
My concern is that, at this juncture, banks have a real interest in liquidating bad loans and transferring those loans to lower risk borrowers, that's why they are not making any real effort to salvage bad loans and are forcing foreclosures of risky loans that may harm their ac …
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Bernanke's creative solution: Let's do it again
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